Document:

exv4w3

Exhibit 4.3

Execution Version

REGISTRATION RIGHTS AGREEMENT

by and among

Aviv Healthcare Properties Limited Partnership

Aviv Healthcare Capital Corporation

Aviv REIT, Inc.

and the other Guarantors party hereto

and

Merrill Lynch, Pierce, Fenner & Smith Incorporated

as the Representative of the several Initial Purchasers

Dated as of April 5, 2011

 

 

REGISTRATION RIGHTS AGREEMENT

     This Registration Rights Agreement (this “Agreement”) is made and entered into as of April 5,
2011, by and among Aviv Healthcare Properties Limited Partnership, a Delaware limited partnership,
and Aviv Healthcare Capital Corporation, a Delaware corporation (collectively, the “Issuers”), Aviv
REIT, Inc., a Maryland corporation (“Aviv REIT”), and the other guarantors party hereto
(collectively, with Aviv REIT, the “Guarantors”), and Merrill Lynch, Pierce, Fenner & Smith
Incorporated, on behalf of itself and as representative of the Initial Purchasers listed on
Schedule A to the Purchase Agreement (as defined below) (collectively, the “Initial Purchasers”),
each of whom has agreed to purchase pursuant to the Purchase Agreement the Issuers’ 7 3/4% Senior
Notes due 2019 (the “Initial Notes") fully and unconditionally guaranteed by the Guarantors (the
"Guarantees”). The Initial Notes and the Guarantees attached thereto are herein collectively
referred to as the “Initial Securities.”

     This Agreement is made pursuant to the Purchase Agreement, dated March 22, 2011 (the “Purchase
Agreement”), among the Issuers, the Guarantors and Merrill Lynch, Pierce, Fenner & Smith
Incorporated, on behalf of itself and as representative of the Initial Purchasers, (i) for the
benefit of the Initial Purchasers and (ii) for the benefit of the holders from time to time of the
Initial Securities, including the Initial Purchasers. In order to induce the Initial Purchasers to
purchase the Initial Securities, the Issuers have agreed to provide the registration rights set
forth in this Agreement. The execution and delivery of this Agreement is a condition to the
obligations of the Initial Purchasers set forth in Section 5(h) of the Purchase Agreement.

     The parties hereby agree as follows:

     SECTION 1. Definitions. As used in this Agreement, the following capitalized terms shall have
the following meanings:

     Additional Interest: As defined in Section 5 hereof.

     Advice: As
defined in Section 6(c) hereof.

     Affiliate: As defined in Rule 405 under the Securities Act.

     Agreement: As defined in the preamble hereto.

     Aviv REIT: As defined in the preamble hereto.

     Broker-Dealer: Any broker or dealer registered under the Exchange Act.

     Business Day: Any day other than a Saturday, Sunday or U.S. federal holiday or a day on which
banking institutions or trust companies located in New York, New York are authorized or obligated
to be closed.

     Class Securities: The securities issued pursuant to the Purchase Agreement and that certain
purchase agreement, dated January 27, 2011, among the Issuers, the Guarantors, and

 

 

Merrill Lynch, Pierce, Fenner & Smith Incorporated, on behalf of itself and as representative of
the listed on Schedule A thereto.

     Closing Date: The date of this Agreement.

     Commission: The Securities and Exchange Commission.

     Consummate: A registered Exchange Offer shall be deemed “Consummated” for purposes of this
Agreement upon the occurrence of (i) the filing and effectiveness under the Securities Act of the
Exchange Offer Registration Statement relating to the Exchange Securities to be issued in the
Exchange Offer, (ii) the maintenance of such Registration Statement continuously effective and the
keeping of the Exchange Offer open for a period not less than the minimum period required pursuant
to Section 3(b) hereof, and (iii) the delivery by the Issuers to the registrar under the Indenture
of Exchange Securities in the same aggregate principal amount as the aggregate principal amount of
Initial Securities that were properly tendered and not withdrawn by Holders thereof pursuant to the
Exchange Offer.

     Consummation Deadline: As defined in Section 3(b) hereof.

     Exchange Act: The Securities Exchange Act of 1934, as amended.

     Exchange Offer: The registration by the Issuers under the Securities Act of the Exchange
Securities pursuant to a Registration Statement pursuant to which the Issuers offer the Holders of
all outstanding Transfer Restricted Securities the opportunity to exchange all such outstanding
Transfer Restricted Securities held by such Holders for Exchange Securities in an aggregate
principal amount equal to the aggregate principal amount of the Transfer Restricted Securities that
were properly tendered and not withdrawn in such exchange offer by such Holders.

     Exchange Offer Registration Statement: The Registration Statement relating to the Exchange
Offer, including the related Prospectus.

     Exchange Securities: The 7 3/4% Senior Notes due 2019, of the same class under the Indenture as
the Initial Notes, and the Guarantees attached thereto, to be issued to Holders in exchange for
Transfer Restricted Securities pursuant to this Agreement and the Exchange Offer.

     FINRA: The Financial Industry Regulatory Authority, Inc.

     Guarantees: As defined in the preamble hereto.

     Guarantors: As
defined in the preamble hereto.

     Holder: As defined in Section 2(b) hereof.

     Indemnified Holder: As defined in Section 8(a) hereof.

     Indenture: The Indenture, dated as of February 4, 2011, by and among the Issuers, the
Guarantors and The Bank of New York Mellon Trust Company, N.A., as trustee (the “Trustee”),

2

 

as supplemented by the first supplemental indenture, dated as of March 22, 2011, pursuant to which
the Securities are to be issued, as such Indenture is amended or supplemented from time to time in
accordance with the terms thereof.

     Initial Notes: As defined in the preamble hereto.

     Initial Placement: The issuance and sale by the Issuers of the Initial Securities to the
Initial Purchasers pursuant to the Purchase Agreement.

     Initial Purchasers: As defined in the preamble hereto.

     Initial Securities: As defined in the preamble hereto.

     Issuers: As defined in the preamble hereto.

     Person: An individual, partnership, corporation, limited liability company, trust,
unincorporated organization or other legal entity, or a government or agency or political
subdivision thereof.

     Prospectus: The prospectus included in a Registration Statement (or deemed a part of any Shelf
Registration Statement), as amended or supplemented by any prospectus supplement and by all other
amendments thereto, including post-effective amendments, and all material incorporated by reference
into such Prospectus and, in respect of any Shelf Registration Statement, including for the
avoidance of doubt any “issuer free writing prospectus” within the meaning of Rule 433 under the
Securities Act.

     Purchase Agreement: As defined in the preamble hereto.

     Registration Default: As defined in Section 5 hereof.

     Registration Statement: Any registration statement of the Issuers relating to (a) an offering
of Exchange Securities pursuant to an Exchange Offer or (b) the registration for resale of Transfer
Restricted Securities pursuant to the Shelf Registration Statement, which is filed pursuant to the
provisions of this Agreement, in each case, including the Prospectus included therein, all
amendments and supplements thereto (including post-effective amendments) and all exhibits and
material incorporated by reference therein.

     Securities: The Initial Securities and the Exchange Securities.

     Securities Act: The Securities Act of 1933, as amended.

     Shelf Registration Statement: As defined in Section 4(a) hereof.

     Shelf Suspension Period: As defined in Section 6(c) hereof.

     Transfer Restricted Securities: Each Initial Security, until the earliest to occur of (a) the
date on which such Initial Security is exchanged in the Exchange Offer for an Exchange Security

3

 

entitled to be resold to the public by the Holder thereof without complying with the prospectus
delivery requirements of the Securities Act, (b) the date on which such Initial Security has been
effectively registered under the Securities Act and disposed of in accordance with a Shelf
Registration Statement, (c) the date on which such Initial Security is distributed to the public by
a Broker-Dealer pursuant to the “Plan of Distribution” contemplated by the Exchange Offer
Registration Statement (including delivery of the Prospectus contained therein), (d) the date on
which such Initial Security is distributed to the public pursuant to Rule 144 under the Securities
Act and (e) the date on which such Initial Security ceases to be outstanding under the terms of the
Indenture.

     Trust Indenture Act: The Trust Indenture Act of 1939, as amended.

     Underwritten Registration or Underwritten Offering: A registration in which securities of the
Issuers are sold to an underwriter for reoffering to the public.

     SECTION 2. Securities Subject to this Agreement.

     (a) Transfer Restricted Securities. The Securities entitled to the benefits of this Agreement
are the Transfer Restricted Securities.

     (b) Holders of Transfer Restricted Securities. A Person is deemed to be a holder of Transfer
Restricted Securities (each, a “Holder”) whenever such Person owns Transfer Restricted Securities.

     SECTION 3. Registered Exchange Offer.

     (a) Unless the Exchange Offer shall not be permissible under applicable law or Commission
policy, each of the Issuers and the Guarantors shall (i) cause to be filed with the Commission as
soon as practicable after the Closing Date, but in no event later than May 20, 2011, a Registration
Statement under the Securities Act relating to the Exchange Securities and the Exchange Offer, (ii)
use its reasonable best efforts to cause such Registration Statement to become effective on or
prior to September 2, 2011 and (iii) upon the effectiveness of such Registration Statement,
commence the Exchange Offer. The Exchange Offer Registration Statement shall be on the appropriate
form permitting registration of the Exchange Securities to be offered in exchange for the Transfer
Restricted Securities and to permit resales of Initial Securities held by Broker-Dealers as
contemplated by Section 3(c) hereof.

     (b) The Issuers and the Guarantors shall cause the Exchange Offer Registration Statement to be
effective continuously and shall keep the Exchange Offer open for a period of not less than the
minimum period required under applicable federal and state securities laws to Consummate the
Exchange Offer; provided, however, that in no event shall such period be less than 30 days after
the date notice of the Exchange Offer is mailed to the Holders. The Issuers shall cause the
Exchange Offer to comply with all applicable federal and state securities laws. No securities other
than the Class Securities shall be included in the Exchange Offer Registration Statement. The
Issuers shall use their reasonable best efforts to cause the Exchange Offer to be Consummated no
event later than October 3, 2011 (the “Consummation Deadline”).

4

 

     (c) The Issuers shall indicate in a “Plan of Distribution” section contained in the Prospectus
forming a part of the Exchange Offer Registration Statement that any Broker-Dealer who holds
Initial Securities that are Transfer Restricted Securities and that were acquired for its own
account as a result of market-making activities or other trading activities (other than Transfer
Restricted Securities acquired directly from the Issuers), may exchange such Initial Securities
pursuant to the Exchange Offer; however, such Broker-Dealer may be deemed to be an “underwriter”
within the meaning of the Securities Act and must, therefore, deliver a prospectus meeting the
requirements of the Securities Act in connection with any resales of the Exchange Securities
received by such Broker-Dealer in the Exchange Offer, which prospectus delivery requirement may be
satisfied by the delivery by such Broker-Dealer of the Prospectus contained in the Exchange Offer
Registration Statement. Such “Plan of Distribution” section shall also contain all other
information with respect to such resales by Broker-Dealers that the Commission may require in order
to permit such resales pursuant thereto, but such “Plan of Distribution” shall not name any such
Broker-Dealer or disclose the amount of Initial Securities held by any such Broker-Dealer except to
the extent required by the Commission.

     Each of the Issuers and the Guarantors shall use its reasonable best efforts to keep the
Exchange Offer Registration Statement continuously effective, supplemented and amended as required
by the provisions of Section 6(c) hereof to the extent necessary to ensure that it is available for
resales of Initial Securities acquired by Broker-Dealers for their own accounts as a result of
market-making activities or other trading activities, and to ensure that it conforms with the
requirements of this Agreement, the Securities Act and the policies, rules and regulations of the
Commission as announced from time to time, for a period ending on the earlier of (i) 180 days from
the date on which the Exchange Offer Registration Statement is declared effective and (ii) the date
on which a Broker-Dealer is no longer required to deliver a prospectus in connection with
market-making or other trading activities.

     The Issuers shall provide sufficient copies of the latest version of such Prospectus to
Broker-Dealers promptly upon request at any time during such 180-day period (or shorter period as
provided in the preceding paragraph) in order to facilitate such resales.

     SECTION 4. Shelf Registration.

     (a) Shelf Registration. If (i) the Issuers are not required to file an Exchange Offer
Registration Statement or to Consummate the Exchange Offer because the Exchange Offer is not
permitted by applicable law or Commission policy, (ii) for any reason the Exchange Offer is not
Consummated by the Consummation Deadline or (iii) with respect to any Holder of Transfer Restricted
Securities, such Holder notifies the Issuers that (A) such Holder is prohibited by applicable law
or Commission policy from participating in the Exchange Offer, (B) such Holder may not resell the
Exchange Securities acquired by it in the Exchange Offer to the public without delivering a
prospectus and that the Prospectus contained in the Exchange Offer Registration Statement is not
appropriate or available for such resales by such Holder, (C) such Holder is a Broker-Dealer and
holds Initial Securities acquired directly from the Issuers or one of their Affiliates, or (D) such
Holder is an Initial Purchaser and holds Initial Securities that have not been resold and that such
Holder acquired directly from the Issuers or one of their Affiliates, then, upon such Holder’s
request, the Issuers and the Guarantors shall:

5

 

     (x) cause, as promptly as practicable, to be filed a shelf registration statement
pursuant to Rule 415 under the Securities Act, which may be an amendment to the Exchange
Offer Registration Statement (in either event, the “Shelf Registration Statement”), and
which Shelf Registration Statement shall provide for resales of all Transfer Restricted
Securities the Holders of which shall have provided the information required pursuant to
Section 4(b) hereof; and

     (y) use their reasonable best efforts to cause such Shelf Registration Statement to be
declared effective by the Commission (1) in the case of clause 4(a)(i) above, by the 90th
day (or if such 90th day is not a Business Day, the next succeeding Business Day) after the
date on which the Issuers determine that they are not permitted to file the Exchange Offer
Registration Statement or Consummate the Exchange Offer, but in any event not earlier than
the September 2, 2011, (2) in the case of clause 4(a)(ii) above, by the 90th day after the
Consummation Deadline (or if such 90th day is not a Business Day, the next succeeding
Business Day), and (3) in the case of clause 4(a)(iii) above, by the 90th day (or if such
90th is not a Business Day, the next succeeding Business Day) after the date on which the
Issuers receive notice from a Holder of Transfer Restricted Securities but in any event,
not later than the September 2, 2011.

     Each of the Issuers and the Guarantors shall use its reasonable best efforts to keep such
Shelf Registration Statement continuously effective, supplemented and amended as required by the
provisions of Sections 6(b) and (c) hereof to the extent necessary to ensure that it is available
for resales of Initial Securities by the Holders of Transfer Restricted Securities entitled to the
benefit of this Section 4(a), and to ensure that it conforms with the requirements of this
Agreement, the Securities Act and the policies, rules and regulations of the Commission as
announced from time to time, for a period of at least two years following the effective date of
such Shelf Registration Statement (or such shorter period that will terminate when all the Initial
Securities covered by such Shelf Registration Statement have been sold pursuant to such Shelf
Registration Statement or are otherwise no longer Transfer Restricted Securities).

     (b) Provision by Holders of Certain Information in Connection with the Shelf Registration
Statement. No Holder of Transfer Restricted Securities may include any of its Transfer Restricted
Securities in any Shelf Registration Statement pursuant to this Agreement unless and until such
Holder furnishes to the Issuers in writing, within 20 Business Days after receipt of a request
therefor, such information as the Issuers may reasonably request for use in connection with any
Shelf Registration Statement or Prospectus or preliminary Prospectus included therein. Each Holder
as to which any Shelf Registration Statement is being effected agrees to furnish promptly to the
Issuers all information required to be disclosed in order to make the information previously
furnished to the Issuers by such Holder not materially misleading.

     SECTION 5. Additional Interest. The Issuers and the Initial Purchasers agree that the Holders
will suffer damages if the Issuers and the Guarantors fail to fulfill their obligations under
Section 3 or Section 4 hereof and that it would not be feasible to ascertain the extent of such
damages with precision. Accordingly, the Issuers agree that, if (i) any of the Registration
Statements required by this Agreement is not filed with the Commission on or prior to the date
specified for such filing in this Agreement, (ii) any of such Registration Statements has not been

6

 

declared effective by the Commission on or prior to the date specified for such effectiveness in
this Agreement, (iii) the Exchange Offer has not been Consummated by the Consummation Deadline or
(iv) the Shelf Registration Statement is filed and declared effective but thereafter ceases to be
effective or fails to be usable for its intended purpose without being succeeded immediately by a
post-effective amendment to such Shelf Registration Statement that cures such failure and that is
itself immediately declared effective (each such event referred to in clauses (i) through (iv), a
"Registration Default”), the Issuers shall pay, as liquidated damages for such Registration
Default, additional interest (“Additional Interest”) that shall accrue on the Transfer Restricted
Securities over and above the interest set forth in the title of the Transfer Restricted Securities
at the rate of 0.25% per annum during the 90-day period immediately following the occurrence of any
Registration Default. The amount of Additional Interest shall increase by 0.25% per annum at the
end of each subsequent 90-day period until all Registration Defaults are cured, but in no event
shall the aggregate amount of such Additional Interest exceed 1.00% per annum. Notwithstanding the
foregoing, in no event will Additional Interest accrue under more than one of the foregoing clauses
(i) through (iv) at any one time. Any such Additional Interest on the relevant Transfer Restricted
Securities shall be the exclusive monetary remedy available to the Holders of such Transfer
Restricted Securities for any Registration Default, and a Registration Default shall not constitute
a default under the Indenture. Following the cure of all Registration Defaults relating to any
particular Transfer Restricted Securities, the interest rate borne by the relevant Transfer
Restricted Securities will be reduced to the original interest rate borne by such Transfer
Restricted Securities; provided, however, that if after any such reduction in interest rate, a
different Registration Default occurs, the interest rate borne by the relevant Transfer Restricted
Securities shall again be increased pursuant to the foregoing provisions.

     All obligations of the Issuers and the Guarantors set forth in the preceding paragraph that
are outstanding with respect to any Transfer Restricted Security at the time such security ceases
to be a Transfer Restricted Security shall survive until such time as all such obligations with
respect to such security shall have been satisfied in full.

     SECTION 6. Registration Procedures.

     (a) Exchange Offer Registration Statement. In connection with the Exchange Offer, the Issuers
and the Guarantors shall comply with all of the provisions of Section 6(c) hereof and shall use
their reasonable best efforts to effect such exchange to permit the sale of Transfer Restricted
Securities being sold in accordance with the intended method or methods of distribution thereof.

     (i) As a condition to its participation in the Exchange Offer pursuant to the terms of
this Agreement, each Holder of Transfer Restricted Securities shall furnish, upon the
request of the Issuers, prior to the Consummation thereof, a written representation to the
Issuers (which may be contained in the letter of transmittal contemplated by the Exchange
Offer Registration Statement) to the effect that (A) it is not an Affiliate of the Issuers,
(B) it is not engaged in, and does not intend to engage in, and has no arrangement or
understanding with any Person to participate in, a distribution of the Exchange Securities
to be issued in the Exchange Offer and (C) it is acquiring the Exchange Securities in its
ordinary course of business. In addition, all such Holders of Transfer

7

 

Restricted Securities shall otherwise cooperate in the Issuers’ preparations for the
Exchange Offer. Each Holder hereby acknowledges and agrees that any Broker-Dealer and any
such Holder using the Exchange Offer to participate in a distribution of the Exchange
Securities to be acquired in the Exchange Offer (1) could not under Commission policy as in
effect on the date of this Agreement rely on the position of the Commission enunciated in
Morgan Stanley and Co., Inc. (available June 5, 1991) and Exxon Capital
Holdings Corporation (available May 13, 1988), as interpreted in the Commission’s
letter to Shearman & Sterling dated July 2, 1993, and similar no-action letters, and (2)
must comply with the registration and prospectus delivery requirements of the Securities
Act in connection with a secondary resale transaction and that such a secondary resale
transaction should be covered by an effective registration statement containing the selling
security holder information required by Item 507 or 508, as applicable, of Regulation S-K
if the resales are of Exchange Securities obtained by such Holder in exchange for Initial
Securities acquired by such Holder directly from the Issuers.

     (b) Shelf Registration Statement. In connection with the Shelf Registration
Statement, each of the Issuers and the Guarantors shall comply with all the provisions of Section
6(c) hereof and shall use its reasonable best efforts to effect such registration to permit the
sale of the Transfer Restricted Securities being sold in accordance with the intended method or
methods of distribution thereof, and pursuant thereto each of the Issuers and the Guarantors will
prepare and file with the Commission a Registration Statement relating to the registration on any
appropriate form under the Securities Act, which form shall be available for the sale of the
Transfer Restricted Securities in accordance with the intended method or methods of distribution
thereof.

     (c) General Provisions. In connection with any Registration Statement and any Prospectus
required by this Agreement to permit the sale or resale of Transfer Restricted Securities
(including, without limitation, any Registration Statement and the related Prospectus required to
permit resales of Initial Securities by Broker-Dealers), each of the Issuers and the Guarantors
shall:

     (i) use its reasonable best efforts to keep such Registration Statement continuously
effective and provide all requisite financial statements (including, if required by the
Securities Act or any regulation thereunder, financial statements of the Guarantors) for
the period specified in Section 3 or 4 hereof, as applicable; upon the occurrence of any
event that would cause any such Registration Statement or the Prospectus contained therein
(A) to contain an untrue statement of a material fact or omit to state a material fact
required to be stated therein or necessary in order to make the statements therein (with
respect to the Prospectus, in the light of the circumstances under which they were made)
not misleading, or (B) not to be effective and usable for resale of Transfer Restricted
Securities during the period required by this Agreement, the Issuers shall file promptly an
appropriate amendment to such Registration Statement, in the case of clause (A), correcting
any such misstatement or omission, and, in the case of either clause (A) or (B), use its
reasonable best efforts to cause such amendment to be declared

8

 

effective and such Registration Statement and the related Prospectus to become usable for their
intended purpose(s) as soon as practicable thereafter;

     (ii) prepare and file with the Commission such amendments and post-effective amendments to the
applicable Registration Statement as may be necessary to keep the Registration Statement effective
for the applicable period set forth in Section 3 or 4 hereof, as applicable, or such shorter period
as will terminate when all Transfer Restricted Securities covered by such Registration Statement
have been sold or otherwise cease to be Transfer Restricted Securities; cause the Prospectus to be
supplemented by any required Prospectus supplement, and as so supplemented to be filed pursuant to
Rule 424 under the Securities Act, and to comply fully with the applicable provisions of Rules 424
and 430A under the Securities Act in a timely manner; and comply with the provisions of the
Securities Act with respect to the disposition of all securities covered by such Registration
Statement during the applicable period in accordance with the intended method or methods of
distribution by the sellers thereof set forth in such Registration Statement or supplement to the
Prospectus;

     (iii) advise the underwriter(s), if any, and selling Holders named in a Shelf Registration
Statement promptly and, if requested by such Persons, to confirm such advice in writing, (A) when
the Prospectus or any Prospectus supplement or post-effective amendment has been filed, and, with
respect to any Registration Statement or any post-effective amendment thereto, when the same has
become effective, (B) of any request by the Commission for amendments to the Registration Statement
or amendments or supplements to the Prospectus or for additional information relating thereto, (C)
of the issuance by the Commission of any stop order suspending the effectiveness of the
Registration Statement under the Securities Act or of the suspension by any state securities
commission of the qualification of the Transfer Restricted Securities for offering or sale in any
jurisdiction, or the initiation of any proceeding for any of the preceding purposes, (D) of the
existence of any fact or the happening of any event that causes the Registration Statement, the
Prospectus, any amendment or supplement thereto, or any document incorporated by reference therein
to contain an untrue statement of a material fact, or that requires the making of any additions to
or changes in the Registration Statement or the Prospectus in order to state a material fact
required to be stated therein or necessary to make the statements therein (with respect to the
Prospectus, in the light of the circumstances under which they were made) not misleading; and if at
any time the Commission shall issue any stop order suspending the effectiveness of the Registration
Statement, or any state securities commission or other regulatory authority shall issue an order
suspending the qualification or exemption from qualification of the Transfer Restricted Securities
under state securities or blue sky laws, each of the Issuers and the Guarantors shall use its
reasonable best efforts to obtain the withdrawal or lifting of such order at the earliest possible
time;

     (iv) furnish without charge to each of the Initial Purchasers, each selling Holder named in
any Shelf Registration Statement, and each of the underwriter(s), if any, before filing with the
Commission, copies of any Shelf Registration Statement or any Prospectus included therein or any
amendments or supplements to any such Shelf

9

 

Registration Statement or Prospectus (including all documents incorporated by reference after the
initial filing of such Shelf Registration Statement), which documents will be subject to the review
and comment of not more than one counsel to such Holders and underwriter(s) in connection with such
sale, if any, for a period of time not to exceed five Business Days, and the Issuers will not file
any such Shelf Registration Statement or Prospectus or any amendment or supplement to any such
Shelf Registration Statement or Prospectus (including all such documents incorporated by reference)
to which an Initial Purchaser of Transfer Restricted Securities covered by such Shelf Registration
Statement or the underwriter(s), if any, shall reasonably object in writing within five Business
Days after the receipt thereof (such objection to be deemed timely made upon confirmation of
telecopy transmission within such period). The objection of an Initial Purchaser or underwriter, if
any, shall be deemed to be reasonable if such Shelf Registration Statement, amendment, Prospectus
or supplement, as applicable, as proposed to be filed, contains an untrue statement of a material
fact or omits to state a material fact required to be stated therein or necessary in order to make
the statements therein (with respect to the Prospectus, in the light of the circumstances under
which they were made) not misleading;

     (v) in the case of a Shelf Registration Statement, make available at reasonable times for
inspection by the Initial Purchasers, the managing underwriter(s), if any, participating in any
disposition pursuant to such Shelf Registration Statement and not more than one law firm or
accounting firm retained by such Initial Purchasers or any of the underwriter(s), all financial and
other records, pertinent corporate documents and properties of each of the Issuers and the
Guarantors as shall be reasonably requested to enable them to exercise any applicable due diligence
responsibilities, and cause the Issuers’ and the Guarantors’ officers, directors and employees to
supply all information reasonably requested by any such Holder, underwriter, attorney or accountant
in connection with such Shelf Registration Statement or any post-effective amendment thereto
subsequent to the filing thereof and prior to its effectiveness and to participate in meetings with
investors to the extent requested by the managing underwriter(s), if any;

     (vi) if requested by any selling Holders or the underwriter(s), if any, promptly incorporate
in any Shelf Registration Statement or Prospectus, pursuant to a supplement or post-effective
amendment if necessary, such information as such selling Holders and underwriter(s), if any, may
reasonably request to have included therein, including, without limitation, information relating
to the “Plan of Distribution” of the Transfer Restricted Securities, information with respect to
the principal amount of Transfer Restricted Securities being sold to such underwriter(s), the
purchase price being paid therefor and any other terms of the offering of the Transfer Restricted
Securities to be sold in such offering; and make all required filings of such Prospectus
supplement or post-effective amendment as soon as practicable after the Issuers are notified of
the matters to be incorporated in such Prospectus supplement or post-effective amendment;

     (vii) in the case of a Shelf Registration Statement, upon written request, furnish to each
Initial Purchaser, each selling Holder and each of the underwriter(s), if any, without charge, at
least one copy of the Shelf Registration Statement, as first filed with

10

 

the Commission, and of each amendment thereto, including financial statements and schedules,
all documents incorporated by reference therein and all exhibits (including exhibits
incorporated therein by reference);

     (viii) deliver to each selling Holder and each of the underwriter(s), if any, without charge,
as many copies of the Prospectus (including each preliminary prospectus) and any amendment or
supplement thereto as such Persons reasonably may request; each of the Issuers and the Guarantors
hereby consents to the use of the Prospectus and any amendment or supplement thereto by each of the
selling Holders and each of the underwriter(s), if any, in connection with the offering and the
sale of the Transfer Restricted Securities covered by the Prospectus or any amendment or supplement
thereto;

     (ix) in the case of a Shelf Registration Statement, enter into such agreements (including an
underwriting agreement), and make such representations and warranties, and take all such other
reasonable actions in connection therewith in order to expedite or facilitate the disposition of
the Transfer Restricted Securities pursuant to such Shelf Registration Statement, all to such
extent as may be reasonably requested by any Initial Purchaser or by any Holder of Transfer
Restricted Securities or underwriter in connection with any sale or resale pursuant to such Shelf
Registration Statement; and whether or not an underwriting agreement is entered into and whether or
not the registration is an Underwritten Registration, each of the Issuers and the Guarantors shall:

     (A) furnish to each Initial Purchaser, each selling Holder and each underwriter,
if any, in such substance and scope as they may request and as are customarily made by
issuers to underwriters in primary underwritten offerings, upon the effectiveness of
the Shelf Registration Statement:

     (1) a certificate, dated the date of effectiveness of the Shelf Registration
Statement, signed by (y) the Chairman, Chief Executive Officer and President of
Aviv REIT and (z) a Chief Financial or Accounting Officer of Aviv REIT, on behalf
of each Issuer and Guarantor, confirming, as of the date thereof, the matters set
forth in paragraphs (i), (ii) and (iii) of Section 5(g) of the Purchase Agreement
and such other matters as such parties may reasonably request;

     (2) an opinion or opinions, dated the date of effectiveness of the Shelf
Registration Statement, of counsel for the Issuers and the Guarantors, covering
matters similar to those set forth in the opinions delivered pursuant to
Sections 5(c), 5(d) and 5(e) of the Purchase Agreement; and

     (3) a customary comfort letter, dated the date of effectiveness of the Shelf
Registration Statement, from the Issuers’ independent accountants, in the customary
form and covering matters of the type customarily requested to be covered in
comfort letters by underwriters in connection with primary underwritten offerings,
and covering or affirming

11

 

matters similar to those set forth in the comfort letters delivered pursuant to
Section 5(a) of the Purchase Agreement, without exception;

     (B) set forth in full or incorporate by reference in the underwriting agreement, if
any, the indemnification provisions and procedures of Section 8 hereof with respect to
all parties to be indemnified pursuant to said Section; and

     (C) deliver such other documents and certificates as may be reasonably requested by
such parties to evidence compliance with Section 6(c)(ix)(A) hereof and with any customary
conditions contained in the underwriting agreement or other agreement entered into by the
Issuers or any of the Guarantors pursuant to this Section 6(c)(ix), if any;

     (x) prior to any public offering of Transfer Restricted Securities, reasonably cooperate with
the selling Holders, the underwriter(s), if any, and their respective counsel in connection with
the registration and qualification of the Transfer Restricted Securities under the state securities
or blue sky laws of such jurisdictions as the selling Holders or underwriter(s), if any, may
reasonably request and do any and all other reasonable acts or things necessary or advisable to
enable the disposition in such jurisdictions of the Transfer Restricted Securities covered by the
Shelf Registration Statement; provided, however, that none of the Issuers or the Guarantors shall
be required to register or qualify as a foreign corporation or other entity where it is not then so
qualified or to take any action that would subject it to the service of process in suits or to
taxation, other than as to matters and transactions relating to the Registration Statement, in any
jurisdiction where it is not then so subject;

     (xi) issue, upon the request of any Holder who is an Initial Purchaser holding Initial
Securities that have not been resold and that such Holder acquired directly from the Issuers or
one of their Affiliates and are covered by the Shelf Registration Statement, Exchange Securities
having an aggregate principal amount equal to the aggregate principal amount of Initial Securities
surrendered to the Issuers by such Holder in exchange therefor or being sold by such Holder; such
Exchange Securities to be registered in the name of such Holder or in the name of the purchaser(s)
of such Securities, as the case may be; in return, the Initial Securities held by such Holder
shall be surrendered to the Issuers for cancellation;

     (xii) cooperate with the selling Holders and the underwriter(s), if any, to facilitate the
timely preparation and delivery of certificates representing Transfer Restricted Securities to be
sold and not bearing any restrictive legends; and enable such Transfer Restricted Securities to be
in such denominations and registered in such names as the Holders or the underwriter(s), if any,
may request at least two Business Days prior to any sale of Transfer Restricted Securities made by
such Holders or underwriter(s);

     (xiii) if any fact or event contemplated by Section 6(c)(iii)(D) hereof shall exist or have
occurred, prepare a supplement or post-effective amendment to the Registration Statement or related
Prospectus or any document incorporated therein by reference or file

12

 

any other required document so that, as thereafter delivered to the purchasers of Transfer
Restricted Securities, the Prospectus will not contain an untrue statement of a material
fact or omit to state any material fact necessary in order to make the statements therein,
in the light of the circumstances in which they were made, not misleading;

     (xiv) provide a CUSIP number for all Securities not later than the effective date of
the Registration Statement covering such Securities and provide the Trustee under the
Indenture with printed certificates for such Securities which are in a form eligible for
deposit with The Depository Trust Company and take all other action necessary to ensure
that all such Securities are eligible for deposit with The Depository Trust Company;

     (xv) cooperate and assist in any filings required to be made with FINRA and in the
performance of any due diligence investigation by any underwriter (including any “qualified
independent underwriter”) that is required to be retained in accordance with the rules and
regulations of FINRA;

     (xvi) otherwise use its reasonable best efforts to comply with all applicable rules
and regulations of the Commission, and make generally available to its security holders, as
soon as practicable, a consolidated earnings statement meeting the requirements of Rule 158
under the Securities Act (which need not be audited) for the twelve-month period (A)
commencing at the end of any fiscal quarter in which Transfer Restricted Securities are
sold to underwriters in a firm commitment or best efforts Underwritten Offering or (B) if
not sold to underwriters in such an offering, beginning with the first month of the
Issuers’ first fiscal quarter commencing after the effective date of the Registration
Statement;

     (xvii) cause the Indenture to be qualified under the Trust Indenture Act not later
than the effective date of the first Registration Statement required by this Agreement,
and, in connection therewith, cooperate with the Trustee and the Holders of Securities to
effect such changes to the Indenture as may be required for such Indenture to be so
qualified in accordance with the terms of the Trust Indenture Act; and to execute and use
its reasonable best efforts to cause the Trustee to execute, all documents that may be
required to effect such changes and all other forms and documents required to be filed with
the Commission to enable such Indenture to be so qualified in a timely manner; and

     (xviii) if not otherwise available on the Commission’s EDGAR system, provide promptly
to each Holder upon request each document filed with the Commission pursuant to the
requirements of Section 13 or Section 15 of the Exchange Act.

     Notwithstanding the foregoing, the Issuers will have the ability to suspend the offering and
sale under a Shelf Registration Statement or the time period in which such Shelf Registration
Statement is required to be filed (the “Shelf Suspension Period”), if the Board of Directors of
Aviv REIT determines, in its reasonable business judgment, that the continued effectiveness and use
of the Shelf Registration Statement or the filing thereof would require the disclosure of
confidential information or interfere with any financing, acquisition, reorganization or other
material transaction involving the Issuers or any of the Guarantors. A Shelf Suspension Period

13

 

shall commence on and include the date that the Issuers give notice that the Shelf Registration
Statement is no longer effective, the Prospectus included therein is no longer usable for offers
and sales of Transfer Restricted Securities covered by such Registration Statement, or the time
period in which the Shelf Registration Statement is required to be filed has been suspended, and
continue until holders of such Transfer Restricted Securities either (i) receive the copies of the
supplemented or amended Prospectus contemplated by Section 6(c) above, (ii) are advised in writing
by Aviv REIT that use of the Prospectus may be resumed, or (iii) are advised in writing by Aviv
REIT that the time period in which the Shelf Registration Statement is required to be filed is no
longer suspended. The Issuers will not be permitted to exercise their rights under this paragraph
more than twice in any twelve-month period, and any such suspensions may not exceed 60 consecutive
days.

     Each Holder agrees by acquisition of a Transfer Restricted Security that, upon receipt of any
notice from the Issuers of the existence of any fact of the kind described in Section 6(c)(iii)(D)
hereof or of any Shelf Suspension Period, such Holder will forthwith discontinue disposition of
Transfer Restricted Securities pursuant to the applicable Registration Statement until such
Holder’s receipt of the copies of the supplemented or amended Prospectus contemplated by Section
6(c)(xiii) hereof, or until it is advised in writing (the “Advice”) by the Issuers that the use of
the Prospectus may be resumed, and has received copies of any additional or supplemental filings
that are incorporated by reference in the Prospectus. If so directed by the Issuers, each Holder
will deliver to the Issuers (at the Issuers’ expense) all copies, other than permanent file copies
then in such Holder’s possession, of the Prospectus covering such Transfer Restricted Securities
that was current at the time of receipt of such notice. In the event the Issuers shall give any
such notice, the time period regarding the effectiveness of such Registration Statement set forth
in Section 3 or 4 hereof, as applicable, shall be extended by the number of days during the period
from and including the date of the giving of such notice pursuant to Section 6(c)(iii)(D) hereof or
notice of any Shelf Suspension Period to and including the date when each selling Holder covered by
such Registration Statement shall have received the copies of the supplemented or amended
Prospectus contemplated by Section 6(c)(xiii) hereof or shall have received the Advice; provided,
however, that no such extension shall be taken into account in determining whether Additional
Interest is due pursuant to Section 5 hereof or the amount of such Additional Interest, it being
agreed that the Issuers’ option to suspend use of a Registration Statement pursuant to this
paragraph shall be treated as a Registration Default for purposes of Section 5 hereof.

     SECTION 7. Registration Expenses.

     (a) All expenses incident to the Issuers’ and the Guarantors’ performance of or compliance
with this Agreement will be borne by the Issuers and the Guarantors, jointly and severally,
regardless of whether a Registration Statement becomes effective, including, without limitation:
(i) all registration and filing fees and expenses (including filings made by any Initial Purchaser
or Holder with FINRA (and, if applicable, the reasonable fees and expenses of any “qualified
independent underwriter” and its counsel that may be required by the rules and regulations of
FINRA)); (ii) all fees and expenses of compliance with federal securities and state securities or
blue sky laws; (iii) all expenses of printing (including printing certificates for the Exchange
Securities to be issued in the Exchange Offer and printing of Prospectuses), messenger

14

 

and delivery services and telephone; (iv) all fees and disbursements of counsel for the Issuers,
the Guarantors and, subject to Section 7(b) hereof, one counsel for the Holders of Transfer
Restricted Securities; (v) all application and filing fees in connection with listing the Exchange
Securities on a securities exchange or automated quotation system pursuant to the requirements
thereof; (vi) all fees and disbursements of independent certified public accountants of the Issuers
and the Guarantors (including the expenses of any special audit and comfort letters required by or
incident to such performance); and (vii) all fees and expenses of the exchange agent and the
Trustee, including the fees and disbursements of their counsel.

     Each of the Issuers and the Guarantors will, in any event, bear its internal expenses
(including, without limitation, all salaries and expenses of its officers and employees performing
legal or accounting duties), the expenses of any annual audit and the fees and expenses of any
Person, including special experts, retained by the Issuers or the Guarantors.

     (b) In connection with any Registration Statement required by this Agreement (including,
without limitation, the Exchange Offer Registration Statement and the Shelf Registration
Statement), the Issuers and the Guarantors, jointly and severally, will reimburse the Initial
Purchasers and the Holders of Transfer Restricted Securities being tendered in the Exchange Offer
and/or resold pursuant to the “Plan of Distribution” contained in the Exchange Offer Registration
Statement or registered pursuant to the Shelf Registration Statement, as applicable, for the
reasonable fees and disbursements of not more than one counsel, who shall be Cravath, Swaine &
Moore LLP, or such other counsel as may be chosen by the Holders of a majority in principal amount
of the Transfer Restricted Securities for whose benefit such Registration Statement is being
prepared.

     SECTION 8. Indemnification.

     (a) The Issuers and the Guarantors, jointly and severally, agree to indemnify and hold
harmless (i) each Holder, (ii) each Person, if any, who controls (within the meaning of Section 15
of the Securities Act or Section 20 of the Exchange Act) any Holder (any of the Persons referred to
in this clause (ii) being hereinafter referred to as a “controlling person”) and (iii) the
respective officers, directors, partners, employees, representatives and agents of any Holder or
any such controlling person (any Person referred to in clause (i), (ii) or (iii) may hereinafter be
referred to as an “Indemnified Holder”), to the fullest extent lawful, from and against any and all
losses, claims, damages, liabilities, judgments, actions and expenses (including, without
limitation, and as incurred, reimbursement of all reasonable costs of investigating, preparing,
pursuing, settling, compromising, paying or defending any claim or action, or any investigation or
proceeding by any governmental agency or body, commenced or threatened, including the reasonable
fees and expenses of counsel to any Indemnified Holder), joint or several, directly or indirectly
caused by, related to, based upon, arising out of or in connection with (1) any untrue statement or
alleged untrue statement of a material fact contained in any Registration Statement (including any
amendment or supplement thereto) or any omission or alleged omission to state therein a material
fact required to be stated therein or necessary in order to make the statements therein not
misleading or (2) any untrue statement or alleged untrue statement of a material fact contained in
any Prospectus (including any amendment or supplement thereto) or any omission or alleged omission to state a
material fact necessary in order to make the statements therein, in

15

 

the light of the circumstances under which they were made, not misleading, in each case except
insofar as such losses, claims, damages, liabilities, judgments, actions or expenses are caused by
an untrue statement or omission or alleged untrue statement or omission that is made in reliance
upon and in conformity with information relating to any of the Holders furnished in writing to the
Issuers by any of the Holders expressly for use therein. This indemnity agreement shall be in
addition to any liability which the Issuers or any of the Guarantors may otherwise have.

     In case any action or proceeding (including any governmental or regulatory investigation or
proceeding) shall be brought or asserted against any of the Indemnified Holders with respect to
which indemnity may be sought against the Issuers or the Guarantors, such Indemnified Holder (or
the Indemnified Holder controlled by such controlling person) shall promptly notify the Issuers and
the Guarantors in writing; provided, however, that the failure to give such notice shall not
relieve any of the Issuers or the Guarantors of its obligations pursuant to this Agreement except
to the extent that it has been materially prejudiced by such failure. Such Indemnified Holder shall
have the right to employ its own counsel in any such action and the reasonable fees and expenses of
such counsel shall be paid, as incurred, by the Issuers and the Guarantors, (regardless of whether
it is ultimately determined that an Indemnified Holder is not entitled to indemnification
hereunder; provided, however, that such fees and expenses of counsel shall not be payable insofar
as it is determined that an Indemnified Holder is not entitled to indemnification because such
action or proceeding arose from an untrue statement or omission or alleged untrue statement or
omission that is made in reliance upon and in conformity with information relating to any of the
Holders furnished in writing to the Issuers by any of the Holders expressly for use therein). The
Issuers and the Guarantors shall not, in connection with any one such action or proceeding or
separate but substantially similar or related actions or proceedings in the same jurisdiction
arising out of the same general allegations or circumstances, be liable for the reasonable fees and
expenses of more than one separate firm of attorneys (in addition to any local counsel) at any time
for such Indemnified Holders, which firm shall be designated by the Holders. The Issuers and the
Guarantors shall be liable for any settlement of any such action or proceeding effected with the
Issuers’ and the Guarantors’ prior written consent, which consent shall not be withheld
unreasonably, and each of the Issuers and the Guarantors agrees to indemnify and hold harmless any
Indemnified Holder from and against any loss, claim, damage, liability or expense by reason of any
settlement of any action effected with the written consent of the Issuers and the Guarantors. The
Issuers and the Guarantors shall not, without the prior written consent of each Indemnified Holder,
settle or compromise or consent to the entry of judgment in or otherwise seek to terminate any
pending or threatened action, claim, litigation or proceeding in respect of which indemnification
or contribution may be sought hereunder (whether or not any Indemnified Holder is a party thereto),
unless such settlement, compromise, consent or termination includes an unconditional release of
each Indemnified Holder from all liability arising out of such action, claim, litigation or
proceeding.

     (b) Each Holder of Transfer Restricted Securities agrees, severally and not jointly, to
indemnify and hold harmless the Issuers, the Guarantors and their respective directors and officers
who sign a Registration Statement, and any Person controlling (within the meaning of Section 15 of
the Securities Act or Section 20 of the Exchange Act) the Issuers or any of the Guarantors, and the respective officers, directors, partners,
employees, representatives and agents

16

 

of each such Person, to the same extent as the foregoing indemnity from the Issuers and the
Guarantors to each of the Indemnified Holders, but only with respect to claims and actions based on
information relating to such Holder furnished in writing by such Holder expressly for use in any
Registration Statement. In case any action or proceeding shall be brought against the Issuers, the
Guarantors or their respective directors or officers or any such controlling person in respect of
which indemnity may be sought against a Holder of Transfer Restricted Securities, such Holder shall
have the rights and duties given to the Issuers and the Guarantors, and the Issuers, the
Guarantors, their respective directors and officers and such controlling person shall have the
rights and duties given to each Holder by the preceding paragraph.

     (c) If the indemnification provided for in this Section 8 is unavailable to an indemnified
party under Section 8(a) or (b) hereof (other than by reason of exceptions provided in those
Sections) in respect of any losses, claims, damages, liabilities, judgments, actions or expenses
referred to therein, then each applicable indemnifying party, in lieu of indemnifying such
indemnified party, shall contribute to the amount paid or payable by such indemnified party as a
result of such losses, claims, damages, liabilities or expenses in such proportion as is
appropriate to reflect the relative benefits received by the Issuers and the Guarantors, on the one
hand, and the Holders, on the other hand, from the Initial Placement (which in the case of the
Issuers and the Guarantors shall be deemed to be equal to the total gross proceeds to the Issuers
and the Guarantors from the Initial Placement), the amount of Additional Interest which did not
become payable pursuant to Section 5 hereof as a result of the filing of the Registration Statement
resulting in such losses, claims, damages, liabilities, judgments actions or expenses, and such
Registration Statement, or if such allocation is not permitted by applicable law, the relative
fault of the Issuers and the Guarantors, on the one hand, and the Holders, on the other hand, in
connection with the statements or omissions which resulted in such losses, claims, damages,
liabilities or expenses, as well as any other relevant equitable considerations. The relative fault
of the Issuers and the Guarantors on the one hand and of the Indemnified Holder on the other shall
be determined by reference to, among other things, whether the untrue or alleged untrue statement
of a material fact or the omission or alleged omission to state a material fact relates to
information supplied by the Issuers or any of the Guarantors, on the one hand, or the Indemnified
Holders, on the other hand, and the parties’ relative intent, knowledge, access to information and
opportunity to correct or prevent such statement or omission. The amount paid or payable by a party
as a result of the losses, claims, damages, liabilities and expenses referred to above shall be
deemed to include, subject to the limitations set forth in the second paragraph of Section 8(a)
hereof, any legal or other fees or expenses reasonably incurred by such party in connection with
investigating or defending any action or claim.

     The Issuers, the Guarantors and each Holder of Transfer Restricted Securities agree that it
would not be just and equitable if contribution pursuant to this Section 8(c) were determined by
pro rata allocation (even if the Holders were treated as one entity for such purpose) or by any
other method of allocation which does not take account of the equitable considerations referred to
in the immediately preceding paragraph. The amount paid or payable by an indemnified party as a
result of the losses, claims, damages, liabilities or expenses referred to in the immediately
preceding paragraph shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably
incurred by such indemnified party in connection with

17

 

investigating or defending any such action or claim. Notwithstanding the provisions of this Section
8, none of the Holders (and its related Indemnified Holders) shall be required to contribute, in
the aggregate, any amount in excess of the amount by which the total discount received by such
Holder with respect to the Initial Securities exceeds the amount of any damages which such Holder
has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission
or alleged omission. No Person guilty of fraudulent misrepresentation (within the meaning of
Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not
guilty of such fraudulent misrepresentation. The Holders’ obligations to contribute pursuant to
this Section 8(c) are several in proportion to the respective principal amount of Initial
Securities held by each of the Holders hereunder and not joint.

     SECTION 9. Rule 144A. Each of the Issuers and the Guarantors hereby agrees with each Holder,
for so long as any Transfer Restricted Securities remain outstanding, to make available to any
Holder or beneficial owner of Transfer Restricted Securities in connection with any sale thereof
and any prospective purchaser of such Transfer Restricted Securities from such Holder or beneficial
owner, the information required by Rule 144A(d)(4) under the Securities Act in order to permit
resales of such Transfer Restricted Securities pursuant to Rule 144A under the Securities Act.

     SECTION 10. Participation in Underwritten Registrations. No Holder may participate in any
Underwritten Registration hereunder unless such Holder (a) agrees to sell such Holder’s Transfer
Restricted Securities on the basis provided in any underwriting arrangements approved by the
Persons entitled hereunder to approve such arrangements and (b) completes and executes all
reasonable questionnaires, powers of attorney, indemnities, underwriting agreements, lock-up
letters and other documents required under the terms of such underwriting arrangements.

     SECTION 11. Selection of Underwriters. The Holders of Transfer Restricted Securities covered
by the Shelf Registration Statement who desire to do so may sell such Transfer Restricted
Securities in an Underwritten Offering. In any such Underwritten Offering, the investment banker(s)
and managing underwriter(s) that will administer such offering will be selected by the Holders of a
majority in aggregate principal amount of the Transfer Restricted Securities included in such
offering; provided, however, that such investment banker(s) and managing underwriter(s) must be
reasonably satisfactory to the Issuers.

     SECTION 12. Miscellaneous.

     (a) Remedies. Each of the Issuers and the Guarantors hereby agrees that monetary damages would
not be adequate compensation for any loss incurred by reason of a breach by it of the provisions of
this Agreement and hereby agree to waive the defense in any action for specific performance that a
remedy at law would be adequate.

     (b) No Inconsistent Agreements. Each of the Issuers and the Guarantors will not on or after
the date of this Agreement enter into any agreement with respect to its securities that is
inconsistent with the rights granted to the Holders in this Agreement or otherwise conflicts with
the provisions hereof. The rights granted to the Holders hereunder do not in any way conflict

18

 

with and are not inconsistent with the rights granted to the holders of the Issuers’ or any of the
Guarantors’ securities under any agreement in effect on the date hereof.

     (c) Adjustments Affecting the Securities. The Issuers will not take any action, or permit any
change to occur, with respect to the Securities that would materially and adversely affect the
ability of the Holders to Consummate any Exchange Offer.

     (d) Amendments and Waivers. The provisions of this Agreement may not be amended, modified or
supplemented, and waivers or consents to or departures from the provisions hereof may not be given
unless the Issuers have (i) in the case of Section 5 hereof and this Section 12(d)(i), obtained the
written consent of Holders of all outstanding Transfer Restricted Securities and (ii) in the case
of all other provisions hereof, obtained the written consent of Holders of a majority of the
outstanding principal amount of Transfer Restricted Securities (excluding any Transfer Restricted
Securities held by the Issuers or their Affiliates). Notwithstanding the foregoing, a waiver or
consent to departure from the provisions hereof that relates exclusively to the rights of Holders
whose securities are being tendered pursuant to the Exchange Offer and that does not affect
directly or indirectly the rights of other Holders whose securities are not being tendered pursuant
to such Exchange Offer may be given by the Holders of a majority of the outstanding principal
amount of Transfer Restricted Securities being tendered or registered; provided, however, that,
with respect to any matter that directly or indirectly affects the rights of any Initial Purchaser
hereunder, the Issuers shall obtain the written consent of each such Initial Purchaser with respect
to which such amendment, qualification, supplement, waiver, consent or departure is to be
effective.

     (e) Notices. All notices and other communications provided for or permitted hereunder shall be
made in writing by hand-delivery, first-class mail (registered or certified, return receipt
requested), telex, telecopier, or air courier guaranteeing overnight delivery:

     (i) if to a Holder, at the address set forth on the records of the Registrar under the
Indenture, with a copy to the Registrar under the Indenture; and

     (ii) if to the Issuers or the Guarantors:

Aviv Healthcare Properties Limited Partnership

Aviv Healthcare Capital Corporation

c/o Aviv REIT, Inc.

303 West Madison Street, Suite 2400

Chicago, IL 60606

Telecopier No.: (312) 855-1684

Attention: Craig M. Bernfield, Chief Executive Officer

With a copy to:

Sidley Austin LLP One

South Dearborn Street

Chicago, IL 60603

19

 

Telecopier No.: (312) 853-7036

Attention: Robert L. Verigan

     All such notices and communications shall be deemed to have been duly given: at the time
delivered by hand, if personally delivered; five Business Days after being deposited in the mail,
postage prepaid, if mailed; when answered back, if telexed; when receipt acknowledged, if
telecopied; and on the next Business Day, if timely delivered to an air courier guaranteeing
overnight delivery.

     Copies of all such notices, demands or other communications shall be concurrently delivered by
the Person giving the same to the Trustee at the address specified in the Indenture.

     (f) Successors and Assigns. This Agreement shall inure to the benefit of and be binding upon
the successors and assigns of each of the parties, including, without limitation, and without the
need for an express assignment, subsequent Holders of Transfer Restricted Securities; provided,
however, that this Agreement shall not inure to the benefit of or be binding upon a successor or
assign of a Holder unless and to the extent such successor or assign acquired Transfer Restricted
Securities from such Holder.

     (g) Counterparts. This Agreement may be executed in any number of counterparts and by the
parties hereto in separate counterparts, each of which when so executed shall be deemed to be an
original and all of which taken together shall constitute one and the same agreement.

     (h) Headings. The headings in this Agreement are for convenience of reference only and shall
not limit or otherwise affect the meaning hereof.

     (i) Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE
LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO THE CONFLICTS OF LAW RULES THEREOF.

     (j) Severability. In the event that any one or more of the provisions contained herein, or the
application thereof in any circumstance, is held invalid, illegal or unenforceable, the validity,
legality and enforceability of any such provision in every other respect and of the remaining
provisions contained herein shall not be affected or impaired thereby.

     (k) Entire Agreement. This Agreement is intended by the parties as a final expression of their
agreement and intended to be a complete and exclusive statement of the agreement and understanding
of the parties hereto in respect of the subject matter contained herein. There are no restrictions,
promises, warranties or undertakings, other than those set forth or referred to herein with respect
to the registration rights granted by the Issuers with respect to the Transfer Restricted
Securities. This Agreement supersedes all prior agreements and understandings between the parties
with respect to such subject matter.

*           *           *

20

 

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

	 	 	 	 	 
	 	AVIV HEALTHCARE PROPERTIES LIMITED PARTNERSHIP

 	 
	 	By:  	Aviv REIT, Inc., its general partner
 	 
	 	 	 
	 	By:  	/s/ Craig M. Bernfield
 	 
	 	 	Name:  	Craig M. Bernfield  	 
	 	 	Title:  	President and Chief Executive Officer 	 
	 
	 	AVIV HEALTHCARE CAPITAL CORPORATION

 	 
	 	By:  	/s/ Craig M. Bernfield
 	 
	 	 	Name:  	Craig M. Bernfield 	 
	 	 	Title:  	President and Chief Executive
Officer 	 
	 
	 	AVIV REIT, INC.

 	 
	 	By:  	/s/ Craig M. Bernfield
 	 
	 	 	Name:  	Craig M. Bernfield  	 
	 	 	Title:  	President and Chief Executive Officer 	 
	 
	 	AVIV OP LIMITED PARTNER, L.L.C. and 
AVIV ASSET MANAGEMENT, L.L.C.,

as Guarantors

 	 
	 	By:  	Aviv Healthcare Properties Limited Partnership, their sole member
 	 
	 	 	 
	 	By:  	Aviv REIT, Inc., its general partner
 	 
	 	 	 
	 	By:  	/s/ Craig M. Bernfield
 	 
	 	 	Name:  	Craig M. Bernfield 	 
	 	 	Title:  	President and Chief Executive Officer 	 
	 

Registration Rights Agreement

 

 

	 	 	 	 	 
	 	AVIV HEALTHCARE PROPERTIES OPERATING PARTNERSHIP I, L.P.,

as Guarantor

 	 
	 	By:  	Aviv Healthcare Properties Limited Partnership, its general partner
 	 
	 	 	 
	 	By:  	Aviv REIT, Inc., its general partner
 	 
	 	 	 
	 	By:  	/s/ Craig M. Bernfield
 	 
	 	 	Name:  	Craig M. Bernfield  	 
	 	 	Title:  	President and Chief Executive Officer 	 
	 
	 	AVIV FINANCING I, L.L.C., 

AVIV FINANCING II, L.L.C.,

AVIV FINANCING III, L.L.C., 

AVIV FINANCING IV, L.L.C. and 

AVIV FINANCING V, L.L.C., 

as Guarantors

 	 
	 	By:  	Aviv Healthcare Properties Operating Partnership I, L.P., their sole member
 	 
	 	 	 
	 	By:  	Aviv Healthcare Properties Limited Partnership, its general partner
 	 
	 	 	 
	 	By:  	Aviv REIT, Inc., its general partner
 	 
	 	 	 
	 	By:  	/s/ Craig M. Bernfield
 	 
	 	 	Name:  	Craig M. Bernfield  	 
	 	 	Title:  	President and Chief Executive Officer 	 
	 

Registration Rights Agreement

 

 

	 	 	 	 	 
	 	The entities listed on
Schedule I hereto,

as Guarantors

 	 
	 	By:  	Aviv Financing I, L.L.C., their sole member
 	 
	 	 	 
	 	By:  	Aviv Healthcare Properties Operating Partnership I, L.P., its sole member
 	 
	 	 	 
	 	By:  	Aviv Healthcare Properties Limited Partnership, its general partner
 	 
	 	 	 
	 	By:  	Aviv REIT, Inc., its general partner
 	 
	 	 	 
	 	By:  	/s/ Craig M. Bernfield
 	 
	 	 	Name:  	Craig M. Bernfield 	 
	 	 	Title:  	President and Chief Executive
Officer 	 
	 
	 	The entities listed on Schedule II hereto,

as Guarantors

 	 
	 	By:  	Aviv Financing II, L.L.C., their sole member
 	 
	 	 	 
	 	By:  	Aviv Healthcare Properties Operating Partnership I, L.P., its sole member
 	 
	 	 	 
	 	By:  	Aviv Healthcare Properties Limited Partnership, its general partner
 	 
	 	 	 
	 	By:  	Aviv REIT, Inc., its general partner
 	 
	 	 	 
	 	By:  	/s/ Craig M. Bernfield
 	 
	 	 	Name:  	Craig M. Bernfield 	 
	 	 	Title:  	President and Chief Executive
Officer 	 
	 

Registration Rights Agreement

 

 

	 	 	 	 	 
	 	The entities listed on Schedule III hereto,

as Guarantors

 	 
	 	By:  	Aviv Financing IV, L.L.C., their sole member
 	 
	 	 	 
	 	By:  	Aviv Healthcare Properties Operating Partnership I, L.P., its sole member
 	 
	 	 	 
	 	By:  	Aviv Healthcare Properties Limited Partnership, its general partner
 	 
	 	 	 
	 	By:  	Aviv REIT, Inc., its general partner
 	 
	 	 	 
	 	By:  	/s/ Craig M. Bernfield
 	 
	 	 	Name:  	Craig M. Bernfield  	 
	 	 	Title:  	President and Chief Executive Officer 	 
	 

Registration Rights Agreement

 

 

     The foregoing Registration Rights Agreement is hereby confirmed and accepted as of the date first
above written:

MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED

Acting on behalf of itself and as the Representative of the several Initial Purchasers

	 	 	 	 	 
	 	 	 
	By:  	/s/ Sam Baruch
 	 	 
	 	Name:  	Sam Baruch 	 	 
	 	Title:  	Director 	 	 
	 

 

 

Schedule I

Subsidiaries of Aviv Financing I, L.L.C.

Alamogordo Aviv, L.L.C.

Arma Yates, L.L.C.

Aviv Liberty, L.L.C.

Avon Ohio, L.L.C.

Benton Harbor, L.L.C.

BHG Aviv, L.L.C.

Bonham Texas, L.L.C.

California Aviv Two, L.L.C.

California Aviv, L.L.C.

Chenal Arkansas, L.L.C.

Chippewa Valley, L.L.C.

Clayton Associates, L.L.C.

Columbia View Associates, L.L.C.

Columbus Texas Aviv, L.L.C.

Columbus Western Avenue, L.L.C.

Commerce Nursing Homes, L.L.C.

Denison Texas, L.L.C.

Falfurrias Texas, L.L.C.

Florence Heights Associates, L.L.C.

Freewater Oregon, L.L.C.

Fullerton California, L.L.C.

Great Bend Property, L.L.C.

Heritage Monterey Associates, L.L.C.

Highland Leasehold, L.L.C.

Hobbs Associates, L.L.C.

Hot Springs Aviv, L.L.C.

Houston Texas Aviv, L.L.C.

Hutchinson Kansas, L.L.C.

Karan Associates, L.L.C.

Manor Associates, L.L.C.

Massachusetts Nursing Homes, L.L.C.

Missouri Regency Associates, L.L.C.

Mt. Vernon Texas, L.L.C.

Newtown ALF Property, L.L.C.

N.M. Bloomfield Three Plus One Limited Company

N.M. Espanola Three Plus One Limited Company

N.M. Lordsburg Three Plus One Limited Company

N.M. Silver City Three Plus One Limited Company

Omaha Associates, L.L.C.

Orange ALF Property, L.L.C.

Peabody Associates, L.L.C.

Raton Property Limited Company

Red Rocks, L.L.C.

 

 

Riverside Nursing Home Associates, L.L.C.

Santa Ana-Bartlett, L.L.C.

Savoy/Bonham Venture, L.L.C.

Skyview Associates, L.L.C.

Tujunga, L.L.C.

VRB Aviv, L.L.C.

Washington-Oregon Associates, L.L.C.

Wheeler Healthcare Associates, L.L.C.

Willis Texas Aviv, L.L.C.

Yuba Aviv, L.L.C.

 

 

Schedule II

Subsidiaries of Aviv Financing II, L.L.C.

Arkansas Aviv, L.L.C.

Aviv Foothills, L.L.C.

Belleville Illinois, L.L.C.

Bellingham II Associates, L.L.C.

Camas Associates, L.L.C.

Chatham Aviv, L.L.C.

Clarkston Care, L.L.C.

Colonial Madison Associates, L.L.C.

CR Aviv, L.L.C.

Effingham Associates, L.L.C.

Elite Mattoon, L.L.C.

Elite Yorkville, L.L.C.

Fountain Associates, L.L.C.

Four Fountains Aviv, L.L.C.

Giltex Care, L.L.C.

HHM Aviv, L.L.C.

Hidden Acres Property, L.L.C.

Idaho Associates, L.L.C.

Karan Associates Two, L.L.C.

KB Northwest Associates, L.L.C.

Mansfield Aviv, L.L.C.

Minnesota Associates, L.L.C.

Monterey Park Leasehold Mortgage, L.L.C.

Northridge Arkansas, L.L.C.

Norwalk ALF Property, L.L.C.

Oakland Nursing Homes, L.L.C.

October Associates, L.L.C.

Ogden Associates, L.L.C.

Ohio Aviv, L.L.C.

Oregon Associates, L.L.C.

Prescott Arkansas, L.L.C.

Salem Associates, L.L.C.

San Juan NH Property, L.L.C.

Santa Fe Missouri Associates, L.L.C.

Searcy Aviv, L.L.C.

Skagit Aviv, L.L.C.

Southeast Missouri Property, L.L.C.

Star City Arkansas, L.L.C.

Sun-Mesa Properties, L.L.C.

Wellington Leasehold, L.L.C.

West Pearl Street, L.L.C.

Woodland Arkansas, L.L.C.

 

 

Xion, L.L.C.

 

 

Schedule III

Subsidiaries of Aviv Financing IV, L.L.C.

Burton NH Property, L.L.C.

Casa/Sierra California Associates, L.L.C.

Kingsville Texas, L.L.C.

Missouri Associates, L.L.C.

Montana Associates, L.L.C.

Orange, L.L.C.

Pomona Vista, L.L.C.

Richland Washington, L.L.C.

Rose Baldwin Park Property, L.L.C.

Watauga Associates, L.L.C.exv10w1

Exhibit 10.1

EXECUTION COPY

 

Loan Nos. 07-0004357

07-0014357

CREDIT AGREEMENT

Dated as of September 17, 2010

among

AVIV FINANCING I, L.L.C., as the Parent Borrower,

THE OTHER BORROWERS LISTED ON SCHEDULE 1.01 ATTACHED HERETO

as Borrowers,

GENERAL ELECTRIC CAPITAL CORPORATION,

as Administrative Agent and a Lender,

and

THE OTHER FINANCIAL INSTITUTIONS WHO ARE OR HEREAFTER

BECOME PARTIES TO THIS CREDIT AGREEMENT,

as Lenders

with

GENERAL ELECTRIC CAPITAL CORPORATION,

as Sole Lead Arranger and Book-Running Manager,

and

PRIVATE BANK,

as Co Documentation Agent,

 

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	Page	 
	ARTICLE I DEFINITIONS AND ACCOUNTING TERMS
	 	 	1	 
	 
	 	 	 	 
	1.01. Defined Terms
	 	 	1	 
	1.02. Interpretive Provisions
	 	 	32	 
	1.03. Accounting Terms
	 	 	33	 
	1.04. Rounding
	 	 	33	 
	1.05. References to Agreements and Laws
	 	 	33	 
	1.06. Times of Day
	 	 	34	 
	 
	 	 	 	 
	ARTICLE II COMMITMENTS AND ADVANCES
	 	 	34	 
	 
	 	 	 	 
	2.01. Commitments
	 	 	34	 
	2.02. Advances of the Revolving Loans
	 	 	34	 
	2.03. Repayment of the Loans
	 	 	35	 
	2.04. Prepayments
	 	 	36	 
	2.05. Interest
	 	 	37	 
	2.06. Fees and Expenses
	 	 	38	 
	2.07. Termination or Reduction of Commitments
	 	 	39	 
	2.08. Computation of Interest
	 	 	39	 
	2.09. Payments Generally
	 	 	39	 
	2.10. Sharing of Payments
	 	 	41	 
	2.11. Evidence of Debt
	 	 	41	 
	2.12. Joint and Several Liability of the Borrowers
	 	 	42	 
	2.13. Appointment of Parent Borrower as Legal Representative for Credit Parties
	 	 	46	 
	2.14. Defaulting Lenders
	 	 	46	 
	2.15. Extension of Maturity Date
	 	 	47	 
	 
	 	 	 	 
	ARTICLE III TAXES, YIELD PROTECTION AND ILLEGALITY
	 	 	48	 
	 
	 	 	 	 
	3.01. Taxes
	 	 	48	 
	3.02. Illegality
	 	 	51	 
	3.03. Inability to Determine Rates
	 	 	51	 
	3.04. Increased Cost and Reduced Return; Capital Adequacy; Reserves
	 	 	52	 
	3.05. Funding Losses
	 	 	53	 
	3.06. Matters Applicable to all Requests for Compensation
	 	 	53	 

i

 

TABLE OF CONTENTS

(continued)

	 	 	 	 	 
	 	 	Page	 
	3.07. Survival
	 	 	54	 
	 
	 	 	 	 
	ARTICLE IV CONDITIONS PRECEDENT TO ADVANCES
	 	 	54	 
	 
	 	 	 	 
	4.01. Conditions to Initial Advance
	 	 	54	 
	4.02. Conditions to all Extensions of Credit
	 	 	58	 
	4.03. Conditions to Extensions of Credit for Acquisition Projects and
Renovation Projects 
	 	 	58	 
	 
	 	 	 	 
	ARTICLE V REPRESENTATIONS AND WARRANTIES
	 	 	60	 
	 
	 	 	 	 
	5.01. Financial Statements; No Material Adverse Effect; No Internal Control Event
	 	 	60	 
	5.02. Existence, Qualification and Power
	 	 	61	 
	5.03. Authorization; No Contravention
	 	 	61	 
	5.04. Binding Effect
	 	 	61	 
	5.05. Litigation
	 	 	61	 
	5.06. Compliance with ERISA
	 	 	62	 
	5.07. Environmental Matters
	 	 	62	 
	5.08. Margin Regulations; Investment Company Act
	 	 	63	 
	5.09. Compliance with Laws
	 	 	63	 
	5.10. Ownership of Property; Liens
	 	 	64	 
	5.11. Corporate Structure; Capital Stock, Etc.
	 	 	64	 
	5.12. Real Property Assets; Leases
	 	 	64	 
	5.13. Material Contracts; Additional Contractual Obligations
	 	 	65	 
	5.14. Investments
	 	 	65	 
	5.15. Solvency
	 	 	66	 
	5.16. Taxes
	 	 	66	 
	5.17. Insurance
	 	 	66	 
	5.18. No Default
	 	 	66	 
	5.19. Healthcare; Facility Representations and Warranties
	 	 	66	 
	5.20. Disclosure
	 	 	68	 
	5.21. Governmental Authorizations; Other Consents
	 	 	68	 
	5.22. Anti-Terrorism Laws
	 	 	68	 
	5.23. Collateral Documents
	 	 	68	 

ii 

 

TABLE OF CONTENTS

(continued)

	 	 	 	 	 
	 	 	Page	 
	ARTICLE VI AFFIRMATIVE COVENANTS
	 	 	69	 
	 
	 	 	 	 
	6.01. Financial Statements
	 	 	69	 
	6.02. Certificates; Other Information
	 	 	70	 
	6.03. Preservation of Existence and Franchises
	 	 	72	 
	6.04. Books and Records
	 	 	72	 
	6.05. Compliance with Law
	 	 	72	 
	6.06. Payment of Obligations
	 	 	73	 
	6.07. Insurance
	 	 	73	 
	6.08. Maintenance of Property
	 	 	73	 
	6.09. Visit and Inspections
	 	 	73	 
	6.10. Use of Proceeds
	 	 	74	 
	6.11. Financial Covenants
	 	 	74	 
	6.12. Environmental Matters
	 	 	75	 
	6.13. [Intentionally Omitted.]
	 	 	75	 
	6.14. Covenant to Guarantee Obligations and Give Security
	 	 	75	 
	6.15. Further Assurances
	 	 	76	 
	6.16. Compliance With Material Contracts
	 	 	76	 
	6.17. Appraisals
	 	 	77	 
	6.18. Facility Leases
	 	 	77	 
	6.19. Anti-Terrorism Laws
	 	 	77	 
	6.20. Health Care Covenants
	 	 	77	 
	6.21. Use and Application of Insurance Proceeds
	 	 	78	 
	6.22. Condemnation Awards
	 	 	79	 
	 
	 	 	 	 
	ARTICLE VII NEGATIVE COVENANTS
	 	 	79	 
	 
	 	 	 	 
	7.01. Liens
	 	 	80	 
	7.02. Indebtedness
	 	 	80	 
	7.03. Investments
	 	 	81	 
	7.04. Fundamental Changes
	 	 	82	 
	7.05. Dispositions
	 	 	82	 
	7.06. Business Activities
	 	 	82	 
	7.07. Transactions with Affiliates and Insiders
	 	 	83	 

iii 

 

TABLE OF CONTENTS

(continued)

	 	 	 	 	 
	 	 	Page	 
	7.08. Organization Documents; Fiscal Year
	 	 	83	 
	7.09. Ownership of Subsidiaries
	 	 	83	 
	7.10. No Further Negative Pledges
	 	 	83	 
	7.11. Limitation on Restricted Actions
	 	 	84	 
	7.12. Accounting Changes
	 	 	84	 
	 
	 	 	 	 
	ARTICLE VIII EVENTS OF DEFAULT AND REMEDIES
	 	 	84	 
	 
	 	 	 	 
	8.01. Events of Default
	 	 	84	 
	8.02. Remedies Upon Event of Default
	 	 	87	 
	8.03. Application of Funds
	 	 	87	 
	8.04. Administrative Agent’s Right to Perform the Obligations
	 	 	88	 
	 
	 	 	 	 
	ARTICLE IX ADMINISTRATIVE AGENT
	 	 	89	 
	 
	 	 	 	 
	9.01. Appointment and Authorization of Administrative Agent
	 	 	89	 
	9.02. Delegation of Duties
	 	 	89	 
	9.03. Liability of Administrative Agent
	 	 	89	 
	9.04. Reliance by Administrative Agent
	 	 	90	 
	9.05. Notice of Default
	 	 	90	 
	9.06. Credit Decision; Disclosure of Confidential Information by
Administrative Agent 
	 	 	91	 
	9.07. Indemnification of Administrative Agent
	 	 	91	 
	9.08. Administrative Agent in its Individual Capacity
	 	 	92	 
	9.09. Successor Administrative Agent
	 	 	92	 
	9.10. Administrative Agent May File Proofs of Claim
	 	 	93	 
	9.11. Collateral and Guaranty Matters
	 	 	94	 
	9.12. Substitutions/Releases/Additions of Real Property Assets
	 	 	94	 
	9.13. Releases of Real Property Assets upon Repayment from Bond Financing
	 	 	97	 
	9.14. Releases of Unimproved Properties
	 	 	97	 
	9.15. Like-Kind Exchanges
	 	 	98	 
	 
	 	 	 	 
	ARTICLE X MISCELLANEOUS
	 	 	98	 
	 
	 	 	 	 
	10.01. Amendments, Etc.
	 	 	98	 
	10.02. Notices and Other Communications; Facsimile Copies
	 	 	99	 
	10.03. No Waiver; Cumulative Remedies
	 	 	102	 

iv 

 

TABLE OF CONTENTS

(continued)

	 	 	 	 	 
	 	 	Page	 
	10.04. Expenses; Indemnity; Damage Waiver 
	 	 	102	 
	10.05. Payments Set Aside 
	 	 	104	 
	10.06. Successors and Assigns 
	 	 	105	 
	10.07. Treatment of Certain Information; Confidentiality 
	 	 	107	 
	10.08. Set off 
	 	 	108	 
	10.09. Interest Rate Limitation 
	 	 	109	 
	10.10. Counterparts; Integration; Effectiveness 
	 	 	109	 
	10.11. Survival of Representations and Warranties 
	 	 	109	 
	10.12. Severability 
	 	 	109	 
	10.13. Replacement of Lenders 
	 	 	110	 
	10.14. No Advisory or Fiduciary Responsibility 
	 	 	110	 
	10.15. Source of Funds 
	 	 	111	 
	10.16. GOVERNING LAW 
	 	 	111	 
	10.17. WAIVER OF RIGHT TO TRIAL BY JURY 
	 	 	112	 
	10.18. No Conflict 
	 	 	112	 
	10.19. USA Patriot Act Notice 
	 	 	112	 
	10.20. Entire Agreement 
	 	 	113	 
	10.21. California Real Property Assets 
	 	 	113	 

SCHEDULES

	 	 	 

	1.01

	 	List of Borrowers
	2.03

	 	Amortization Schedule
	2.07

	 	Lenders, Commitments and Commitment Percentages
	2.12

	 	Loan Allocations Among Borrowers
	5.01(b)

	 	Sale, Transfer or other Disposition or Purchase or other Acquisition
	5.11

	 	Corporate Structure; Capital Stock
	5.12

	 	Real Property Asset Matters
	5.13

	 	Material Contracts; Contracts Subject to Assignment of Claims Act
	5.17

	 	Insurance Summary
	5.19

	 	Healthcare Disclosures
	5.22

	 	Patriot Act Information
	7.01

	 	Liens
	7.02

	 	Borrower’s Indebtedness
	7.03

	 	Investments
	9.12

	 	Allocated Loan Values
	10.02

	 	Notice Addresses

v 

 

TABLE OF CONTENTS

(continued)

	 	 	 	 	 
	 	 	 	 	Page
	EXHIBITS
	 	 
	 
	 	 	 	 
	A

	 	Form of Loan Borrowing Notice	 	 
	B

	 	Form of Revolving Loan Note	 	 
	C

	 	Form of Compliance Certificate	 	 
	D

	 	Form of Assignment and Assumption	 	 
	E

	 	Form of Borrower Joinder Agreement	 	 
	F

	 	Form of Term Loan Note	 	 
	G

	 	Form of Agreement of Principal	 	 
	H

	 	Form of Security Agreement	 	 
	I

	 	Form of Request for Extension	 	 

vi 

 

CREDIT AGREEMENT

     This CREDIT AGREEMENT (as amended, modified, restated or supplemented from time to time, this
“Credit Agreement” or this “Agreement”) is entered into as of September 17, 2010 by and among
GENERAL ELECTRIC CAPITAL CORPORATION, a Delaware corporation (in its individual capacity,
“GECC” and in its capacity as agent for the Lenders, together with its successors,
“Administrative Agent”), the financial institutions other than GECC who are or hereafter become
parties to this Agreement (together with GECC, individually, a “Lender”, and collectively, the
“Lenders”, as the context may require), AVIV FINANCING I, L.L.C., a Delaware limited liability
company (together with its successors, the “Parent Borrower”) and THE OTHER BORROWERS LISTED ON
SCHEDULE 1.01 ATTACHED HERETO (each of the foregoing entities and each of the entities from time to
time executing a Borrower Joinder Agreement pursuant to Section 6.14(a) hereof shall be
hereinafter referred to individually as “Borrower” and collectively as the “Borrowers”).

     WHEREAS, the Borrowers have requested the Lenders to provide term and revolving credit
facilities to Borrowers in an amount of $505,000,000.00 for the purposes of refinancing certain
existing debt and for the purposes hereinafter set forth; and

     WHEREAS, the Lenders have agreed to provide the credit facilities to the Borrowers, subject to
the terms and conditions set forth herein.

     NOW, THEREFORE, in consideration of these premises and the mutual covenants and agreements
contained herein, the receipt and sufficiency of which are hereby acknowledged, the parties hereto
covenant and agree as follows:

ARTICLE I

DEFINITIONS AND ACCOUNTING TERMS

1.01. Defined Terms.

     As used in this Credit Agreement, the following terms have the meanings set forth below:

     “Acquisition” means the purchase or acquisition by any Person of (a) more than 50% of
the Capital Stock with ordinary voting power of another Person or (b) all or any substantial
portion of the property (other than Capital Stock) of another Person, whether or not involving a
merger or consolidation with such other Person.

     “Acquisition Project” means the Acquisition of an additional Real Property Asset which
for clarity may include Acquisitions from Affiliates so long as all the applicable conditions in
Section 4.03 are met.

     “Administrative Agent” means General Electric Capital Corporation in its capacity as
administrative agent for the Lenders under any of the Credit Documents, or any successor
administrative agent.

 

 

     “Administrative Agent’s Office” means the Administrative Agent’s address and, as
appropriate, account as set forth on Schedule 10.02, or such other address or account as
the Administrative Agent may from time to time notify the Borrowers and the Lenders.

     “Administrative Questionnaire” means an Administrative Questionnaire in a form
supplied by the Administrative Agent.

     “Advance shall mean amounts advanced by the Lenders (or any of them, as applicable) to
or for the benefit of the Borrowers pursuant to Article 2 hereof on the occasion of any
borrowing and having the same Interest Period and Loan Borrowing Notice or other borrowing
hereunder; and “Advances” shall mean more than one Advance.

     “Affiliate” means, with respect to any Person, another Person that directly, or
indirectly through one or more intermediaries, Controls or is Controlled by or is under common
Control with the Person specified.

     “Agent-Related Persons” means the Administrative Agent, together with its Affiliates,
and the officers, directors, employees, agents and attorneys-in-fact of such Persons and
Affiliates.

     “Aggregate Commitments” means the Commitments of all the Lenders.

     “Aggregate Revolving Commitments” means the Revolving Commitments of all the Lenders.

     “Agreement” has the meaning provided in the introductory paragraph hereof.

     “Agreement of Principal” means the Agreement of Principal in the form of Exhibit G
dated as of the date hereof executed by Aviv, as amended, supplemented or otherwise modified from
time to time.

     “Allocable Amount” has the meaning provided in Section 2.12(i).

     “Allocated Loan Value” shall be (a) for each Real Property Asset owned or leased by
the Borrowers on the Closing Date, the amount set forth for such Real Property Asset on
Schedule 9.12, (b) for each Real Property Asset acquired as an Acquisition Project after
the Closing Date, the amount of the Advance made in accordance with Section 4.03 for such Real
Property Asset and (c) for each Real Property Asset owned or leased by the Borrowers on the Closing
Date which is subsequently renovated through a Renovation Project, the sum of (i) the amount set
forth for such Real Property Asset on Schedule 9.12 as of the Closing Date plus (ii) the
aggregate amount of Advances made to renovate such Real Property Asset in accordance with Section
4.03, in each case, as such Schedule is subsequently updated pursuant to the terms hereof through
the delivery of each Compliance Certificate hereunder or as otherwise may be amended from time to
time as provided in this Agreement.

     “Applicable Percentage” means 4.50%.

2

 

     “Approved Fund” means any Fund that is administered or managed by (a) a Lender, (b) an
Affiliate of a Lender or (c) an entity or an Affiliate of an entity that administers or manages a
Lender.

     “Assignee Group” means two or more Eligible Assignees that are Affiliates of one
another or two or more Approved Funds managed by the same investment advisor.

     “Assignment and Assumption” means an assignment and assumption entered into by a
Lender and an Eligible Assignee (with the consent of any party whose consent is required by
Section 10.06(b)), and accepted by the Administrative Agent, in substantially the form of
Exhibit D or any other form approved by the Administrative Agent and, if such assignment and
assumption requires their consent, the Borrowers.

     “Assignment of Leases” means an assignment of leases, rents and profits to the
Administrative Agent with respect to the applicable Borrower’s interests in a Real Property Asset
(which assignment may be contained within the related Mortgage Instrument); provided that
each such Assignment of Leases shall, subject to the terms and conditions of the applicable
underlying lease, directly assign to the Administrative Agent the applicable Borrower’s interest in
the following: (a) all existing and future leases, subleases, tenancies, licenses, occupancy
agreements or agreements to lease all or any portion of such Real Property Asset (including,
without limitation, any applicable Facility Operating Lease), whether written or oral or for a
definite period or month-to-month, together with any extensions, renewals, amendments,
modifications or replacements thereof, and any options, rights of first refusal, pledges, security
agreements and guarantees of any tenant’s obligations under any lease or sublease now or hereafter
in effect with respect to the Real Property Asset (individually, for the purposes of this
definition, a “Lease” and collectively, the “Leases”); and (b) all rents (including, without
limitation, base rents, minimum rents, additional rents, percentage rents, parking, maintenance and
deficiency rents and payments which are characterized under the terms of the applicable Lease as
payments of interest and/or principal with respect to the applicable Real Property Asset), security
deposits (to the extent assignable, in whatever form, including cash and letters of credit), tenant
escrows, income, receipts, revenues, reserves, issues and profits of the Real Property Asset from
time to time accruing, including, without limitation, (i) all rights to receive payments arising
under, derived from or relating to any Lease, (ii) all lump sum payments for the cancellation or
termination of any Lease, the waiver of any term thereof, or the exercise of any right of first
refusal, call option, put option or option to purchase, and (iii) the return of any insurance
premiums or ad valorem tax payments made in advance and subsequently refunded. In furtherance (and
not limitation) of the foregoing, each Assignment of Leases shall assign to the Administrative
Agent any and all of the applicable Borrower’s rights to collect or receive any payments with
respect to the applicable Real Property Asset. Finally, each Assignment of Leases shall, in any
case, be in form and substance reasonably satisfactory to the Administrative Agent in its
discretion and suitable for recording in the applicable jurisdiction; and “Assignments of Leases”
means a collective reference to each such Assignment of Leases.

     “Attorney Costs” means and includes all reasonable and documented fees, expenses and
disbursements of any law firm or other external counsel.

3

 

     “Attributable Principal Amount” means (a) in the case of Capital Leases, the amount of
capital lease obligations determined in accordance with GAAP, (b) in the case of Synthetic Leases,
an amount determined by capitalization of the remaining lease payments thereunder as if it were a
capital lease determined in accordance with GAAP, (c) in the case of Securitization Transactions,
the outstanding principal amount of such financing, after taking into account reserve amounts and
making appropriate adjustments, determined by the Administrative Agent in its reasonable judgment
and (d) in the case of Sale and Leaseback Transactions, the present value (discounted in accordance
with GAAP at the debt rate implied in the applicable lease) of the obligations of the lessee for
rental payments during the term of such lease.

     “Audited Financial Statements” means the audited consolidated balance sheet of Aviv
and its consolidated Subsidiaries as of December 31, 2009 and December 31, 2008 and the
consolidated statements of earnings, partners’ equity and cash flows for the fiscal years ended
December 31, 2009, December 31, 2008 and December 31, 2007 of Aviv, and its consolidated
Subsidiaries, including the notes thereto.

     “Available Renovation Commitment” shall mean, as of any date, the amount by which (a)
$25,000,000 exceeds (b) the sum of the Revolving Loans then outstanding made for the purpose of
Renovation Projects.

     “Available Revolving Loan Commitment” shall mean, as of any date, the amount by which
(a) the Revolving Loan Commitment in effect on such date exceeds (b) the sum of the Revolving Loans
then outstanding.

     “Aviv” means Aviv Healthcare Properties Limited Partnership, a Delaware limited
partnership.

     “Award” has the meaning provided in 6.22.

     “Bankruptcy Event” means, with respect to any Person, the occurrence of any of the
following: (a) the entry of a decree or order for relief by a court or governmental agency in an
involuntary case under any applicable Debtor Relief Law or any other bankruptcy, insolvency or
other similar law now or hereafter in effect, or the appointment by a court or governmental agency
of a receiver, liquidator, assignee, custodian, trustee, sequestrator (or similar official) of such
Person or for any substantial part of its property or the ordering of the winding up or liquidation
of its affairs by a court or governmental agency and such decree, order or appointment is not
vacated or discharged within ninety (90) days of its filing; or (b) the commencement against such
Person of an involuntary case under any applicable Debtor Relief Law or any other bankruptcy,
insolvency or other similar law now or hereafter in effect, or of any case, proceeding or other
action for the appointment of a receiver, liquidator, assignee, custodian, trustee, sequestrator
(or similar official) of such Person or for any substantial part of its property or for the winding
up or liquidation of its affairs, and such involuntary case or other case, proceeding or other
action shall remain undismissed for a period of ninety (90) consecutive days, or the repossession
or seizure by a creditor of such Person of a substantial part of its property; or (c) such Person
shall commence a voluntary case under any applicable Debtor Relief Law or any other bankruptcy,
insolvency or other similar law now or hereafter in effect, or consent to the entry of an order for
relief in an involuntary case under any such law, or consent to

4

 

the appointment of or the taking possession by a receiver, liquidator, assignee, creditor in
possession, custodian, trustee, sequestrator (or similar official) of such Person or for any
substantial part of its property or make any general assignment for the benefit of creditors; or
(d) the filing of a petition by such Person seeking to take advantage of any Debtor Relief Law or
any other applicable Law, domestic or foreign, relating to bankruptcy, insolvency, reorganization,
winding-up, or composition or adjustment of debts, or (e) such Person shall fail to contest in a
timely and appropriate manner (and if not dismissed within ninety (90) days or shall consent to any
petition filed against it in an involuntary case under such bankruptcy laws or other applicable Law
or consent to any proceeding or action relating to any bankruptcy, insolvency, reorganization,
winding-up, or composition or adjustment of debts with respect to its assets or existence, or (f)
such Person shall admit in writing, or such Person’s financial statements shall reflect, an
inability to pay its debts generally as they become due.

     “Base Rate” means for any day a fluctuating rate per annum equal to the rate of
interest in effect for such day as publicly announced from time to time by the Base Rate Bank as
its “prime rate,” The “prime rate” is a rate set by the Base Rate Bank based upon various factors
including Base Rate Bank’s costs and desired return, general economic conditions and other factors,
and is used as a reference point for pricing some loans, which may be priced at, above, or below
such announced rate. Any change in the prime rate announced by Base Rate Bank shall take effect at
the opening of business on the day specified in the public announcement of such change.

     “Base Rate Bank” means Bank of America, N.A.

     “Base Rate Loan” means a Loan that bears interest based on the Base Rate.

     “Bernfield Designee” means the Person designated by Craig M. Bernfield by written
notice to the Administrative Agent and approved by the Administrative Agent, which approval shall
not be unreasonably withheld, conditioned or delayed.

     “Bernfield Disabling Event” means, with respect to Craig M. Bernfield, his death,
total physical disability or entry by a court of competent jurisdiction adjudicating Craig M.
Bernfield incompetent to manage his Person or his estate (unless and until such time as he recovers
from total physical disability or such adjudication of incompetence is reversed or revoked).

     “Bond Financing” means a bond, high yield or other financing transaction pursuant to
which Aviv or its Affiliates (excluding the Borrowers) raises capital.

     “Borrower” and “Borrowers” shall have the meanings given to such terms in the
introductory paragraph hereof.

     “Borrower Representative” has the meaning provided in Section 2.13 hereof.

     “Borrower Joinder Agreement” means a joinder agreement in the form of Exhibit E to be
executed by each new Subsidiary of the Parent Borrower that is required to become a Borrower in
accordance with Section 6.14(a) hereof.

     “Borrower Materials” has the meaning specified in Section 6.02.

5

 

     “Borrowing” means a borrowing consisting of simultaneous Loans of the same type.

     “Business” or “Businesses” means, at any time, a collective reference to the
businesses operated by the respective Credit Parties, as applicable, at such time.

     “Business Day” means any day other than a Saturday, Sunday or other day on which
commercial banks are authorized to close under the Laws of, or are in fact closed in, the State of
Illinois, New York or the state where the Administrative Agent’s Office is located and, if such day
relates to determining the Eurodollar Rate hereunder, means any such day on which dealings in
Dollar deposits are conducted by and between banks in the London interbank eurodollar market.

     “Capital Expenditures” means all expenditures which, in accordance with GAAP, would be
required to be capitalized and shown on the consolidated balance sheet of the Consolidated Borrower
Parties, including expenditures in respect of Capital Leases, but excluding expenditures made in
connection with the replacement, substitution or restoration of assets to the extent financed (a)
from insurance proceeds (or other similar recoveries) paid on account of the loss of or damage to
the assets being replaced or restored, (b) with awards of compensation arising from the taking by
eminent domain or condemnation of the assets being replaced, (c) with payments from Eligible
Tenants, or (d) with judgments or awards from legal proceedings.

     “Capital Lease” means, with respect to any Person, any lease of (or other agreement
conveying the right to use) any real or personal property by such Person that, in conformity with
GAAP, is accounted for as a capital lease on the balance sheet of such Person.

     “Capital Stock” means (a) in the case of a corporation, capital stock, (b) in the case
of an association or business entity, any and all shares, interests, participations, rights or
other equivalents (however designated) of capital stock, (c) in the case of a partnership,
partnership interests (whether general or limited), (d) in the case of a limited liability company,
membership interests and (e) any other interest or participation that confers on a Person the right
to receive a share of the profits and losses of, or distributions of assets of, the issuing Person.

     “Cash Equivalents” means (a) securities issued or directly and fully guaranteed or
insured by (i) the United States or any agency or instrumentality thereof (provided that the full
faith and credit of the United States is pledged in support thereof) having maturities of not more
than twelve months from the date of acquisition, (b) time deposits and certificates of deposit of
(i) any Lender, (ii) any domestic commercial bank of recognized standing having capital and surplus
in excess of $500,000,000 or (iii) any bank whose short-term commercial paper rating from S&P is at
least A-1 or the equivalent thereof or from Moody’s is at least P-1 or the equivalent thereof (each
an “Approved Bank”), in each case with maturities of not more than two hundred seventy (270) days
from the date of acquisition, (c) commercial paper and variable or fixed rate notes issued by any
Approved Bank (or by the parent company thereof) or any variable rate notes issued by, or
guaranteed by, any domestic corporation rated A-1 (or the equivalent thereof) or better by S&P or
P-1 (or the equivalent thereof) or better by Moody’s and maturing within six months of the date of
acquisition, (d) repurchase agreements entered into by any Person with a bank or trust company
(including any of the Lenders) or recognized securities dealer having

6

 

capital and surplus in excess of $500,000,000 for direct obligations issued by or fully
guaranteed by the United States in which such Person shall have a perfected first priority security
interest (subject to no other Liens) and having, on the date of purchase thereof, a fair market
value of at least 100% of the amount of the repurchase obligations and (e) Investments (classified
in accordance with GAAP as current assets) in money market investment programs registered under the
Investment Company Act of 1940, as amended, that are administered by reputable financial
institutions having capital of at least $500,000,000 and the portfolios of which are limited to
Investments of the character described in the foregoing subclauses hereof.

     “Casualty” has the meaning specified in Section 6.21.

     “Change of Control” means the occurrence of any of the following events: (a) any
Person or two or more Persons acting in concert, other than Permitted Holders, shall have acquired
beneficial ownership, directly or indirectly, of, or shall have acquired by contract or otherwise,
control over, voting stock of the Parent Borrower (or other securities convertible into such voting
stock) representing thirty-five percent (35%) or more of the combined voting power of all voting
stock of the Parent Borrower, (b) during any period of up to twenty-four (24) consecutive months,
commencing after the Closing Date, individuals who at the beginning of such twenty-four (24) month
period were directors of the REIT Party (together with any new director (x) whose election by the
REIT Party’s Board of Directors was approved by a vote of a majority of the directors then still in
office who either were directors at the beginning of such period or whose election or nomination
for election was previously so approved or (y) who was nominated for election by the REIT Party’s
shareholders) cease for any reason to constitute a majority of the directors of the REIT Party then
in office, (c) the Parent Borrower shall fail to own (directly or indirectly) 100% of the Capital
Stock of the entities which are Borrowers from time to time under the Credit Agreement or (d) other
than as a result of an IPO of the REIT Party or any successor to the REIT Party, Day-to-day
Management Control of the Borrowers shall fail to be vested in Craig M. Bernfield or the Bernfield
Designee; provided, however, that upon the occurrence of a Triggering Event, a
Change of Control shall not be deemed to have occurred under this clause (d) if LG controls the
Board of Directors of the REIT Party and the REIT Party employs a Qualified Healthcare Executive to
control day-to-day management of the Borrowers within six (6) months after such Triggering Event.
As used herein, “beneficial ownership” shall have the meaning provided in Rule 13d-3 of the
Securities and Exchange Commission under the Securities Exchange Act of 1934.

     “Closing Date” means the date hereof.

     “CMS” means the Centers for Medicare & Medicaid Services, the federal agency
responsible for administering the Medicare, Medicaid, SCHIP (State Children’s Health Insurance),
HIPAA, CLIA (Clinical Laboratory Improvement Amendments), and any other federal health-related
programs affecting the operation of the Real Property Assets.

     “Collateral” means a collective reference to all real and personal property (including
without limitation, the Real Property Assets) of the Borrowers with respect to which Liens in favor
of the Administrative Agent are either executed, identified or purported to be granted pursuant to
and in accordance with the terms of the Collateral Documents.

7

 

     “Collateral Documents” means a collective reference to the Mortgage Instruments, the
Security Agreement, the Assignments of Leases (if requested), and any UCC financing statements
securing payment hereunder, or any other documents securing the Obligations under this Credit
Agreement or any other Credit Document.

     “Commitment Percentage” shall mean, with respect to any Lender for any Commitment, or
once funded, for any Loan, the percentage equivalent of the ratio which such Lender’s portion of
such Commitment and/or Loan bears to the aggregate amount of such Commitment and/or Loan (as each
may be adjusted from time to time as provided herein); and “Commitment Percentages” shall
mean, with respect to any Commitment, or once funded, for any Loan, the Commitment Ratios of all of
the Lenders with respect to such Commitment and/or Loan. As of the Agreement Date, the Commitment
Ratios of the Lenders party to this Agreement are as set forth on Schedule 5 attached
thereto.

     “Commitments” shall mean, collectively, the Revolving Loan Commitment and the Term
Loan Commitment, and “Commitment” shall mean any one of the foregoing Commitments.

     “Compliance Certificate” means a certificate substantially in the form of Exhibit C;
provided, that each such Compliance Certificate shall, in any case, include (without
limitation): (a) an updated version of Schedules 5.11, 5.12, 5.13 and
5.17, along with a summary of changes made to such schedules since the previous delivery
thereof; provided, further, that upon the delivery of such updated schedules, then
Schedule 5.11, Schedule 5.12, Schedule 5.13 and Schedule 5.17 shall
each be deemed to have been amended and restated to read in accordance with the applicable updated
schedule and the representations and warranties with respect thereto shall apply to such amended
and restated schedules and (b) supporting documents and materials reasonably required by the
Administrative Agent for the evidencing of the calculations and certifications made in connection
therewith.

     “CON” has the meaning provided in Section 6.20.

     “Condemnation” has the meaning provided in Section 6.22.

     “Consolidated Aviv Parties” means Aviv and its Consolidated Aviv Subsidiaries, as
determined in accordance with GAAP.

     “Consolidated Aviv Subsidiaries” means at any date any Subsidiary or other entity the
accounts of which would be consolidated with those of Aviv in its consolidated financial statements
if such statements were prepared as of such date.

     “Consolidated Borrower Parties” means the Parent Borrower and its Consolidated
Subsidiaries, as determined in accordance with GAAP.

     “Consolidated EBITDA (Aviv)” means, for the Consolidated Aviv Parties for any period,
the sum of (a) net income of the Consolidated Aviv Parties, in each case, excluding non-cash
expenses related to stock-based incentive compensation programs and any non-recurring or
extraordinary gains and losses and expense and/or increase resulting in change of fair value from
derivatives, plus (b) an amount which, in the determination of net income for such fiscal
quarter pursuant to clause (a) above, has been deducted for or in connection with (i) Consolidated

8

 

Interest Expense of the Consolidated Aviv Parties (plus, amortization of deferred financing
costs, to the extent included in the determination of Consolidated Interest Expense of the
Consolidated Aviv Parties per GAAP), (ii) income taxes, (iii) depreciation and amortization
(including deferred financing costs) and (iv) any non-recurring fees and expenses related to this
Agreement and the transactions contemplated hereby, any Acquisition Project, any Renovation Project
or any Release or similar transaction permitted hereunder and whether or not such transactions
close, all determined in accordance with GAAP.

     “Consolidated EBITDA (Borrowers)” means, for the Consolidated Borrower Parties for any
period, the sum of (a) net income of the Consolidated Borrower Parties, in each case, excluding
non-cash expenses related to stock-based incentive compensation programs and any non-recurring or
extraordinary gains and losses and expense and/or increase resulting in change of fair value from
derivatives, plus (b) an amount which, in the determination of net income for such fiscal
quarter pursuant to clause (a) above, has been deducted for or in connection with (i) Consolidated
Interest Expense of the Consolidated Borrower Parties (plus, amortization of deferred financing
costs, to the extent included in the determination of Consolidated Interest Expense of the
Consolidated Borrower Parties per GAAP), (ii) income taxes, (iii) depreciation and amortization
(including deferred financing costs) and (iv) any non-recurring fees and expenses related to this
Agreement and the transactions contemplated hereby, any Acquisition Project, any Renovation Project
or any Release or similar transaction permitted hereunder and whether or not such transactions
close, all determined in accordance with GAAP.

     “Consolidated Interest Expense” means, for any Person (or consolidated group of
Persons), for the most recently ended fiscal quarter for which financial information has been
delivered to the Administrative Agent pursuant to the terms of this Credit Agreement, all interest
expense and letter of credit fee expense, on a consolidated basis in accordance with GAAP during
such period, annualized; provided, that interest expenses shall, in any event, (a) include
the interest component under Capital Leases and the implied interest component under Securitization
Transactions and (b) exclude the amortization of any deferred financing fees.

     “Contract Rate” means (a) the Eurodollar Rate plus the Applicable Percentage or (b) if
the provisions of Section 3.02 or Section 3.03 apply and Borrowers elect to request
Borrowings using the Base Rate, in which event it shall mean the Base Rate plus the Applicable
Percentage; provided that in no event would use of the Base Rate plus Applicable Percentage
increase or decrease the Lender’s rate of return over what it would have received at the Eurodollar
Rate plus the Applicable Percentage.

     “Contractual Obligation” means, as to any Person, any provision of any security issued
by such Person or of any agreement, instrument or other undertaking to which such Person is a party
or by which it or any of its property is bound.

     “Control” means the possession, directly or indirectly, of the power to direct or
cause the direction of the management or policies of a Person, whether through the ability to
exercise voting power, by contract or otherwise. “Controlling” and “Controlled” have meanings
correlative thereto. Without limiting the generality of the foregoing, a Person shall be deemed to
be Controlled by another Person if such other Person possesses, directly or indirectly, power to

9

 

vote twenty-five percent (25%) or more of the securities having ordinary voting power for the
election of directors, managing general partners or the equivalent.

     “Credit Agreement” has the meaning given to such term in the introductory paragraph
hereof.

     “Credit Documents” means this Credit Agreement, the Collateral Documents, the Notes,
the Agreement of Principal, the Borrower Joinder Agreement, the Hazardous Materials Indemnity
Agreement, Secured Swap Contracts and the Compliance Certificates.

     “Credit Party” means, as of any date, the Borrowers, the Borrowers’ Representative and
their respective Subsidiaries; and “Credit Parties” means a collective reference to each of
them.

     “Daily Unused Fee” means, for any day during the Revolving Commitment Period, an
amount equal to (a) one percent (1%) per annum multiplied by (b) the amount by which the
Aggregate Revolving Commitments exceed the sum of the Outstanding Amount of Revolving Loans under
the Revolving Loan Commitment as of the beginning of such day.

     “Day-to-day Management Control” means, with respect to the Borrowers, any Person for
so long as such Person either (1) controls the Board of Directors of the REIT Party, or (2) holds a
management position with the REIT Party or Aviv with authority, including shared authority with
other members of management, to direct day-to-day management of the Borrowers.

     “Debt Service” shall mean, for any Person for any period, the amount of all scheduled
principal payments due and owing and Consolidated Interest Expense in respect of Funded Debt of
such Person and all payments paid (net of receipts) under Swap Contracts related to such Funded
Debt.

     “Debt Service Coverage Ratio (Aviv Parties)” means the ratio of (i) Consolidated
EBITDA for the most recently completed two fiscal quarter period, to (ii) Debt Service for the
Consolidated Aviv Parties due during the same period.

     “Debt Service Coverage Ratio (Borrower Parties)” means the ratio of (i) Rental Revenue
for the most recently completed two fiscal quarter period, to (ii) Debt Service for the
Consolidated Borrower Parties during the same period.

     “Debt Service Coverage Ratio (Facility Operations)” means the ratio of: (i) combined
EBITDAR of the Operating Tenants, to the extent attributable to the Real Property Assets, for the
most recently completed two fiscal quarter period, to (ii) all required cash Consolidated Interest
Expense due during the same period plus all required payments of principal on the Loans due
during the same period.

     “Debt Yield (Aviv Parties)” means the ratio, expressed as a percentage, as of any date
of determination, of (a) Consolidated EBITDA (Aviv) for the most recently completed two fiscal
quarter period times 2, to (b) the average daily outstanding principal balance of the Loans
during the same period.

10

 

     “Debt Yield (Borrower Parties)” means the ratio, expressed as a percentage, as of any
date of determination, of (a) Rental Revenue for the most recently completed two fiscal quarter
period times 2, to (b) the average daily outstanding principal balance of the Loans during
the same period.

     “Debtor Relief Laws” means the Bankruptcy Code of the United States, and all other
liquidation, conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium,
rearrangement, receivership, insolvency, reorganization, or similar debtor relief Laws of the
United States or other applicable jurisdictions from time to time in effect and affecting the
rights of creditors generally.

     “Default” means any event, act or condition that, with notice, the passage of time, or
both, would constitute an Event of Default.

     “Default Rate” means an interest rate equal to (a) the Base Rate plus (b) the
Applicable Percentage, if any, applicable to Base Rate Loans plus (c) two percent (2%) per annum;
provided, however, that with respect to a Eurodollar Loan, the Default Rate shall be an
interest rate equal to the interest rate (including any Applicable Percentage) otherwise applicable
to such Loan plus two percent (2%) per annum, in each case to the fullest extent permitted by
applicable Law.

     “Defaulting Lender” means any Lender that (a) has failed to fund any portion of the
Advances required to be funded by it hereunder within one Business Day of the date required to be
funded by it hereunder and has not cured such failure prior to the date of determination, (b) has
notified the Borrowers or the Administrative Agent that it does not intend to comply with its
funding obligations or has made a public statement to that effect with respect to its funding
obligations hereunder, (c) has otherwise failed to pay over to the Administrative Agent or any
other Lender any other amount required to be paid by it hereunder within one Business Day of the
date when due, unless the subject of a good faith dispute, and has not cured such failure prior to
the date of determination, or (d) has, or has a direct or indirect parent company that has, (i)
become the subject of a proceeding under any Debtor Relief Law, (ii) had a receiver, conservator,
trustee, administrator, assignee for the benefit of creditors or similar Person charged with
reorganization or liquidation of its business or a custodian appointed for it, or (iii) taken any
action in furtherance of, or indicated its consent to, approval of or acquiescence in any such
proceeding or appointment; provided, that, a Lender which becomes a Defaulting
Lender solely under this clause (d) shall (1) not be a Defaulting Lender solely as a result of its
direct or indirect parent company being a Defaulting Lender under this clause (d) if such Lender
can continue to act in the ordinary course of business with respect to its duties hereunder in its
capacity as Lender and (2) no longer be a Defaulting Lender under such clause (d) upon the earlier
to occur of: (A) the dismissal of such bankruptcy proceeding and (B) the entry of an order of the
court having jurisdiction over such proceeding which permits such Lender to continue to act in the
ordinary course of business with respect to its duties hereunder in its capacity as Lender,
provided further that a Lender shall not be a Defaulting Lender solely by virtue of the
ownership or acquisition of any equity interest in that Lender or any direct or indirect parent
company thereof by a Governmental Authority.

11

 

     “Disposition” or “Dispose” means the sale, transfer or other disposition
(including any Sale and Leaseback Transaction) of any property by any Person, including any sale,
assignment, transfer or other disposal, with or without recourse, of any notes or accounts
receivable or any rights and claims associated therewith.

     “Distribution Coverage Ratio” means for the most recently completed four fiscal
quarter period, an amount equal to the following for such period: (i) Consolidated EBITDA
(Borrowers) less (a) Capital Expenditures that are not financed by any debt and (b) distributions
to equityholders of the Borrowers (excluding previous year non-distributable funds that would
otherwise have been distributed by Borrowers but for the restrictions contained in this Agreement)
divided by (ii) all required cash Consolidated Interest Expense of the Borrowers plus required
periodic scheduled amortization payments of principal on the Loans.

     “Dollar” or “$” means the lawful currency of the United States.

     “EBITDAR” means, for any period, the combined unaudited financial results as reported
periodically by the Operating Tenants of the Healthcare Facilities calculated as net income for
such period plus, to the extent deducted in determining such net income, interest expense,
rent expense paid to any Borrower, income tax expense, depreciation and amortization for such
period, excluding any other non-recurring or extraordinary gains or losses as reported by the
Operating Tenants.

     “Eligibility Requirements” means with respect to any Person, that such Person: (a) has
total assets (in name or under management) in excess of $600,000,000 and (except with respect to a
pension advisory firm or similar fiduciary) capital/statutory surplus or shareholder’s equity of
$250,000,000, (b) is regularly engaged in the business of making or owning commercial real estate
loans or operating commercial mortgage properties and (c) is approved by (i) the Administrative
Agent (such approval not to be unreasonably withheld or delayed), and (ii) unless an Event of
Default has occurred and is continuing, the Borrower Representative (each such approval not to be
unreasonably withheld or delayed).

     “Eligible Assignee” means (a) a Lender; (b) an Affiliate of a Lender; (c) an Approved
Fund; and (d) any other Person (other than a natural person) approved by (i) the Administrative
Agent (such approval not to be unreasonably withheld or delayed), and (ii) unless an Event of
Default has occurred and is continuing, the Borrower Representative (each such approval not to be
unreasonably withheld or delayed); provided that notwithstanding the foregoing, “Eligible
Assignee” shall not include Aviv or any of Aviv’s Affiliates or Subsidiaries.

     “Eligible Lease” means, at any time, a lease (a) under which a Borrower is the lessee
or holds equivalent rights and is the fee owner of the improvements or has a valid lease in
existing improvements located thereon, (b) that on the date of acquisition has a remaining term of
not less than thirty (30) years, (c) under which any required rental payment, principal or interest
payment or other payment due under such lease from such Borrower to the ground lessor is not more
than sixty (60) days past due and any required rental payment, principal or interest payment or
other payment due to such Borrower under any sublease of the applicable real property lessor is not
more than sixty (60) days past due, (d) where no party to such lease is subject to a then
continuing Bankruptcy Event, (e) such ground lease (or a related document executed by the

12

 

applicable ground lessor) contains customary provisions protective of any lender to the lessee
and (f) where the Borrower’s interest in the underlying Real Property Asset or the lease is not
subject to (i) any Lien other than Permitted Liens and other encumbrances acceptable to the
Administrative Agent and the Required Lenders, in their discretion, or (ii) any Negative Pledge.
The Eligible Leases on the Closing Date are set forth on Schedule 5.12.

     “Eligible Tenant” means an Operating Tenant (a) which is set forth on Schedule
5.12 hereto on the Closing Date; (b) for whom the Administrative Agent shall have received (A)
a written request from the Borrower Representative requesting the approval of all Tenant Background
Information with respect to such Operating Tenant or prospective Operating Tenant as an “Eligible
Tenant,” (B) a certification from the Borrower Representative that on a pro forma basis, such
proposed Operating Tenant represents less than or equal to 10% of Rental Revenue and (C) all Tenant
Background Information which the Administrative Agent shall have fifteen (15) Business Days from
such date to complete its review but shall endeavor to complete within ten (10) Business Days or
(c) which has been consented to by the Administrative Agent, such consent not to be unreasonably
withheld. If the Administrative Agent has not responded to the Borrower’s request within fifteen
(15) Business Days after the Borrower has submitted the required Tenant Background Information,
then the Tenant Background Information review shall be deemed to be satisfactory for such Operating
Tenant.

     “Environmental Laws” means any and all federal, state, local, and foreign statutes,
laws, regulations, ordinances, rules, judgments, orders, decrees, permits, concessions, grants,
franchises, licenses, agreements or governmental restrictions relating to pollution and the
protection of the environment or the release of any Hazardous Substances into the environment,
including those related to wastes, air emissions and discharges to waste or public systems.

     “Equity Interests” means, with respect to any Person, all of the shares of capital
stock of (or other ownership or profit interests in) such Person, all of the warrants, options or
other rights for the purchase or acquisition from such Person of shares of capital stock of (or
other ownership or profit interests in) such Person, all of the securities convertible into or
exchangeable for shares of capital stock of (or other ownership or profit interests in) such Person
or warrants, rights or options for the purchase or acquisition from such Person of such shares (or
such other interests), and all of the other ownership or profit interests in such Person (including
partnership, member or trust interests therein), whether voting or nonvoting, and whether or not
such shares, warrants, options, rights or other interests are outstanding on any date of
determination.

     “Equity Investment” means the equity investment made on the Closing Date as required
pursuant to Section 4.01(m).

     “ERISA” means the Employee Retirement Income Security Act of 1974, as amended.

     “ERISA Affiliate” means any trade or business (whether or not incorporated) under
common control with Aviv within the meaning of Section 414(b) or (c) of the Internal Revenue Code
(and Sections 414(m) and (o) of the Internal Revenue Code for purposes of provisions relating to
Section 412 of the Internal Revenue Code).

13

 

     “ERISA Event” means (a) a Reportable Event with respect to a Pension Plan; (b) a
withdrawal by Aviv or any ERISA Affiliate from a Pension Plan subject to Section 4063 of ERISA
during a plan year in which it was a substantial employer (as defined in Section 4001(a)(2) of
ERISA) or a cessation of operations that is treated as such a withdrawal under Section 4062(e) of
ERISA; (c) a complete or partial withdrawal by Aviv or any ERISA Affiliate from a Multiemployer
Plan or notification that a Multiemployer Plan is in reorganization; (d) the filing of a notice of
intent to terminate, the treatment of a Plan amendment as a termination under Sections 4041 or
4041A of ERISA, or the commencement of proceedings by the PBGC to terminate a Pension Plan or
Multiemployer Plan; (e) an event or condition that could reasonably be expected to constitute
grounds under Section 4042 of ERISA for the termination of, or the appointment of a trustee to
administer, any Pension Plan or Multiemployer Plan; or (f) the imposition of any liability by a
Governmental Authority under Title IV of ERISA, other than for PBGC premiums due but not delinquent
under Section 4007 of ERISA, upon Aviv or any ERISA Affiliate.

     “Eurodollar Base Rate” means:

     (a) For any Interest Period, the rate determined by the Administrative Agent to be the
offered rate for deposits of Dollars for the applicable Interest Period that appears on Reuters
Screen LIBOR01 Page as of 11:00 a.m. (London, England time) on the second full Business Day next
preceding the first day of each Interest Period. In the event that such rate does not appear on
the Reuters Screen LIBOR01 page at such time, the “Eurodollar Base Rate” shall be determined by
reference to such other comparable publicly available service for displaying the offered rate for
deposit in Dollars in the London interbank market as may be selected by the Administrative Agent
and, in the absence of availability, such other method to determine such offered rate as may be
selected by the Administrative Agent in its sole discretion.

     (b) Notwithstanding the foregoing, for purposes of this Agreement, the Eurodollar Base
Rate shall in no event be less than 1.25% per annum at any time.

     “Eurodollar Rate” means for any Interest Period, a rate per annum determined by the
Administrative Agent pursuant to the following formula:

	 	 	 	 

	Eurodollar Rate =

	 	Eurodollar Base Rate	 
	 	1.00 — Eurodollar Reserve Percentage	 

     “Eurodollar Reserve Percentage” means, for any day during any Interest Period, the
reserve percentage (expressed as a decimal, carried out to five decimal places) in effect on such
day, whether or not applicable to any Lender, under regulations issued from time to time by the FRB
for determining the maximum reserve requirement (including any emergency, supplemental or other
marginal reserve requirement) with respect to Eurocurrency funding (currently referred to as
“Eurocurrency liabilities”). The Eurodollar Rate shall be adjusted automatically as of the
effective date of any change in the Eurodollar Reserve Percentage.

     “Event of Acceleration” means any of the events or conditions set forth in
Sections 8.01(f), (g) or (j) with respect to Aviv, the Parent Borrower or
any other two or more Borrowers.

14

 

     “Event of Default” has the meaning provided in Section 8.01.

     “Excluded Taxes” means, with respect to the Administrative Agent, any Lender or any
other recipient of any payment to be made by or on account of any obligation of any Borrower
hereunder, (a) taxes imposed on or measured by its overall net income (however denominated), and
franchise taxes imposed on it (in lieu of net income taxes), imposed on any Lender as a result of a
present or former connection between such Lender and the jurisdiction of the Governmental Authority
imposing such tax or any political subdivision or taxing authority thereof or therein (other than
such connection arising solely from any Lender having executed, delivered or performed its
obligations or received a payment under, or enforced, any Credit Document) , (b) any branch profits
taxes imposed by the United States or any similar tax imposed by any other jurisdiction in which
any Borrower is located, (c) any backup withholding tax that is required by the Internal Revenue
Code to be withheld from amounts payable to a Lender that has failed to comply with clause (A) of
Section 3.01(e)(ii), (d) in the case of a Foreign Lender (other than an assignee pursuant
to a request by any Borrower under Section 10.13), any United States withholding tax that
(i) is required to be imposed on amounts payable to such Foreign Lender pursuant to the Laws in
force at the time such Foreign Lender becomes a party hereto (or designates a new Lending Office)
or (ii) is attributable to such Foreign Lender’s failure or inability (other than as a result of a
change in Law after the date such Foreign Lender becomes party to this Agreement) to comply with
clause (B) of Section 3.01(e)(ii), except to the extent that such Foreign Lender (or its
assignor, if any) was entitled, at the time of designation of a new Lending Office (or assignment),
to receive additional amounts from the Borrowers with respect to such withholding tax pursuant to
Section 3.01(a)(ii) or (iii), and (e) taxes imposed by sections 1471 through 1474
of the Internal Revenue Code, and any current or future regulations or official interpretations
thereof.

     “Extension of Credit” means with respect to any Lender, collectively, all Advances and
Loans made by such Lender.

     “Facility Operating Leases” means each lease or master lease with respect to any Real
Property Asset from the applicable Borrower as lessor, to an Eligible Tenant, which, in the
reasonable judgment of the Administrative Agent, is substantially a triple net lease such that such
Eligible Tenant is required to pay all taxes, utilities, insurance, maintenance, casualty insurance
payments and other expenses with respect to the subject Real Property Asset (whether in the form of
reimbursements or additional rent) in addition to the base rental payments required thereunder such
that net operating income for such Real Property Asset (before non-cash items) equals the base rent
paid thereunder, as the foregoing may be amended and extended from time to time after the Closing
Date in accordance with and subject to the terms of this Agreement and, if required, the Facility
Operating Lease SNDA applicable thereto.

     “Federal Funds Rate” means, for any day, the rate per annum equal to the weighted
average of the rates on overnight federal funds transactions with members of the Federal Reserve
System arranged by federal funds brokers on such day, as published by the Federal Reserve Bank of
New York on the Business Day immediately succeeding such day; provided that (a) if such day
is not a Business Day, the Federal Funds Rate for such day shall be such rate on such transactions
on the immediately preceding Business Day as so published on the immediately succeeding Business
Day, and (b) if no such rate is so published on such immediately succeeding Business Day, the
Federal Funds Rate for such day shall be the average rate (rounded upward, if

15

 

necessary, to the next 1/100th of 1%) charged to Bank of America on such day on
such transactions as determined by the Administrative Agent.

     “Flood Hazard Property” has the meaning provided in the definition of “Real Property
Asset Deliverables” contained in this Section 1.01.

     “Foreign Lender” means any Lender that is organized under the Laws of a jurisdiction
other than that in which any Borrower is resident for tax purposes. For purposes of this
definition, the United States, each State thereof and the District of Columbia shall be deemed to
constitute a single jurisdiction.

     “FRB” means the Board of Governors of the Federal Reserve System of the United States.

     “Fund” means any Person (other than a natural person) engaged in making, purchasing,
holding or otherwise investing in commercial loans and similar extensions of credit in the ordinary
course of its business.

     “Funded Debt” means, as to any Person (or consolidated group of Persons) at a
particular time, without duplication, all of the following, whether or not included as indebtedness
or liabilities in accordance with GAAP:

     (a) all obligations for borrowed money, whether current or long-term (including the
Obligations hereunder), and all obligations evidenced by bonds, debentures, notes, loan agreements
or other similar instruments;

     (b) all purchase money indebtedness (including indebtedness and obligations in respect of
conditional sales and title retention arrangements, except for customary conditional sales and
title retention arrangements with suppliers that are entered into in the ordinary course of
business) and all indebtedness and obligations in respect of the deferred purchase price of
property or services (other than trade accounts payable incurred in the ordinary course of business
and payable on customary trade terms);

     (c) all direct obligations under letters of credit (including standby and commercial),
bankers’ acceptances and similar instruments (including bank guaranties, surety bonds, comfort
letters, keep-well agreements and capital maintenance agreements) to the extent such instruments or
agreements support financial, rather than performance, obligations;

     (d) the Attributable Principal Amount of Capital Leases and Synthetic Leases;

     (e) the Attributable Principal Amount of Securitization Transactions;

     (f) all preferred stock and comparable equity interests providing for mandatory
redemption, sinking fund or other like payments;

     (g) Support Obligations in respect of Funded Debt of another Person (other than Persons in
such group, if applicable); and

16

 

     (h) Funded Debt of any partnership or joint venture or other similar entity in which such
Person is a general partner or joint venturer, and, as such, has personal liability for such
obligations, but only to the extent there is recourse to such Person (or, if applicable, any Person
in such consolidated group) for payment thereof.

     For purposes hereof, the amount of Funded Debt shall be determined based on (i) the
outstanding principal amount in the case of borrowed money indebtedness under clause (a), (ii) the
outstanding purchase money indebtedness and the deferred purchase obligations under clause (b),
(iii) the maximum amount available to be drawn in the case of letter of credit obligations and the
other obligations under clause (c), and (iv) the amount of Funded Debt that is the subject of the
Support Obligations in the case of Support Obligations under clause (g). For purposes of
clarification, “Funded Debt” of Persons constituting a consolidated group shall not include
inter-company indebtedness of such Persons, general accounts payable of such Persons which arise in
the ordinary course of business, accrued expenses of such Persons incurred in the ordinary course
of business or minority interests in joint ventures or limited partnerships (except to the extent
set forth in clause (h) above).

     “GAAP” means generally accepted accounting principles in effect in the United States
as set forth in the opinions and pronouncements of the Accounting Principles Board and the American
Institute of Certified Public Accountants and statements and pronouncements of the Financial
Accounting Standards Board from time to time applied on a consistent basis, subject to the
provisions of Section 1.03.

     “Governmental Authority” means any nation or government, any state or other political
subdivision thereof, and any agency, authority, instrumentality, regulatory body, court,
administrative tribunal, central bank or other entity exercising executive, legislative, judicial,
taxing, regulatory or administrative powers or functions of or pertaining to government.

     “Guarantor” means Aviv as party to the Agreement of Principal and Hazardous Materials
Indemnity Agreement.

     “Hazardous Materials Indemnity Agreement” means that certain Hazardous Materials
Indemnity Agreement by Borrowers and Aviv for the benefit of the Lenders dated as of the date
hereof in the form and substance satisfactory to the Administrative Agent, as amended,
supplemented, restated or otherwise modified from time to time.

     “Hazardous Substance” means any toxic or hazardous substance, including petroleum and
its derivatives regulated under the Environmental Laws.

     “Healthcare Facilities” means any skilled nursing facilities, mentally and
developmentally disabled facilities, rehab hospitals, long term acute care facilities, intermediate
care facilities for the mentally disabled, medical office buildings, domestic assisted living
facilities, independent living facilities or Alzheimer’s care facilities and any ancillary
businesses that are incidental to the foregoing.

     “Healthcare Laws” has the meaning provided in Section 5.19(a).

17

 

     “HIPAA” means the Health Insurance Portability and Accountability Act of 1996 and the
related regulations set forth at 45 CFR Parts 160 and 164.

     “HUD” means the U.S. Department of Housing and Urban Development and any successor
thereto.

     “HUD Subsidiary” means an entity identified on Schedule 5.12 as owning a Real
Property Asset encumbered by a loan from HUD.

     “Indebtedness” means, as to any Person at a particular time, without duplication, all
of the following, whether or not included as indebtedness or liabilities in accordance with GAAP:

     (a) all Funded Debt;

     (b) all contingent obligations under letters of credit (including standby and commercial),
bankers’ acceptances and similar instruments (including bank guaranties, surety bonds, comfort
letters, keep-well agreements and capital maintenance agreements) to the extent such instruments or
agreements support financial, rather than performance, obligations;

     (c) net obligations under any Swap Contract;

     (d) Support Obligations in respect of Indebtedness of another Person; and

     (e) Indebtedness of any partnership or joint venture or other similar entity in which such
Person is a general partner or joint venturer, and, as such, has personal liability for such
obligations, but only to the extent there is recourse to such Person for payment thereof.

For purposes hereof, the amount of Indebtedness shall be determined based on Swap Termination Value
in the case of net obligations under Swap Contracts under clause (c) and based on the outstanding
principal amount of the Indebtedness that is the subject of the Support Obligations in the case of
Support Obligations under clause (d).

     “Indemnified Liabilities” has the meaning provided in Section 10.04(b).

     “Indemnified Taxes” means Taxes other than Excluded Taxes.

     “Indemnitees” has the meaning provided in Section 10.06.

     “Information” has the meaning specified in Section 10.07.

     “Interest Period” means each period commencing on the first day of a calendar month
and ending on the date three months thereafter, provided that:

     (a) any Interest Period that would otherwise end on a day that is not a Business Day shall
be extended to the immediately succeeding Business Day unless such Business Day falls in another
calendar month, in which case such Interest Period shall end on the immediately preceding Business
Day;

18

 

     (b) any Interest Period that begins on the last Business Day of a calendar month (or on a
day for which there is no numerically corresponding day in the calendar month at the end of such
Interest Period) shall end on the last Business Day of the calendar month at the end of such
Interest Period; and

     (c) no Interest Period shall extend beyond the Maturity Date.

     “Internal Control Event” means a material weakness in, or fraud that involves
management or other employees who have a significant role in, the Borrower’s internal controls over
financial reporting, in each case as described in the Securities Laws if such event could
reasonably be expected to have a Material Adverse Effect.

     “Internal Revenue Code” means the Internal Revenue Code of 1986, as amended.

     “Investment” means, as to any Person, any direct or indirect acquisition or investment
by such Person, whether by means of (a) the purchase or other acquisition of Capital Stock of
another Person, (b) a loan, advance or capital contribution to, guaranty or assumption of debt of,
or purchase or other acquisition of any other debt or equity participation or interest in, another
Person, including any partnership or joint venture interest in such other Person, or (c) the
purchase or other acquisition (in one transaction or a series of transactions) of assets of another
Person that constitute a business unit. For purposes of covenant compliance, the amount of any
Investment shall be the amount actually invested, without adjustment for subsequent increases or
decreases in the value of such Investment.

     “Involuntary Disposition” means any loss of, damage to or destruction of, or any
condemnation or other taking for public use of, any property of the Borrowers.

     “IPO” means an initial public offering of shares of common stock registered under the
Securities Laws.

     “IRS” means the United States Internal Revenue Service.

     “Joint Commission” has the meaning given to such term in Section 5.19(b).

     “Laws” means, collectively, all international, foreign, federal, state and local
statutes, treaties, rules, guidelines, regulations, ordinances, codes and administrative or
judicial precedents or authorities, including the interpretation or administration thereof by any
Governmental Authority charged with the enforcement, interpretation or administration thereof, and
all applicable administrative orders, directed duties, requests, licenses, authorizations and
permits of, and agreements with, any Governmental Authority, in each case whether or not having the
force of law.

     “Lender” means (a) each of the Persons identified as a “Lender” on the signature pages
hereto and each Person who joins as a Lender pursuant to the terms hereof, together with their
respective successors and assigns and (b) solely for the purpose of obtaining the benefit of the
Liens granted to the Administrative Agent for the benefit of the Lenders under the Collateral
Documents, a Person to whom any Obligations in respect of a Secured Swap Contract are owed. For
avoidance of doubt, any Person to whom any Obligations in respect of a Secured Swap

19

 

Contract are owed and which does not hold any Loans or Commitments shall not be entitled to
any other rights as a “Lender” under this Agreement.

     “Lending Office” means, as to any Lender, the office or offices of such Lender set
forth in such Lender’s Administrative Questionnaire or such other office or offices as a Lender may
from time to time notify the Borrowers and the Administrative Agent.

     “LG” means LG Aviv L.P., a Delaware limited partnership, or any other investment fund
that is an Affiliate of Lindsay Goldberg LLC.

     “Licenses” has the meaning provided in Section 5.19(b)(i).

     “Lien” means any mortgage, deed of trust, deed to secured debt, pledge, hypothecation,
assignment, deposit arrangement, encumbrance, lien (statutory or other), charge, or preference,
priority or other security interest or preferential arrangement of any kind or nature whatsoever
(including any conditional sale or other title retention agreement, and any financing lease having
substantially the same economic effect as any of the foregoing).

     “Loan Borrowing Notice” means a notice of a Borrowing, which, if in writing, shall be
substantially in the form of Exhibit A.

     “Loans” shall mean, collectively, the Revolving Loans and Term Loans.

     “Material Adverse Effect” means (a) a material adverse change in, or a material
adverse effect on, the operations, business, assets, properties, liabilities (actual or
contingent), performance, condition (financial or otherwise) or prospects of the Credit Parties,
taken as a whole, (b) a material impairment of the material rights and remedies of the
Administrative Agent or any Lender under any Credit Document, or of the ability of the Credit
Parties, taken as a whole, to perform its material obligations under any Credit Document to which
it is a party, or (c) a material adverse effect upon a substantial portion of the Collateral or a
material adverse affect upon the legality, validity, binding effect or enforceability against any
Credit Party of this Credit Agreement, the Notes, the Agreement of Principal or the Hazardous
Materials Indemnity Agreement.

     “Material Contract” means, any agreement the breach, nonperformance or cancellation of
which could reasonably be expected to have a Material Adverse Effect; provided that
Facility Operating Leases shall not be considered Material Contracts under this Agreement.

     “Maturity Date” shall mean September 17, 2015, or such earlier date as payment of the
Loans shall be due (whether by acceleration or otherwise), or any later date to which the same may
be extended in accordance with the terms of Section 2.15 of this Agreement.

     “Medicaid” means the medical assistance programs administered by state agencies and
approved by CMS pursuant to the terms of Title XIX of the Social Security Act, codified at 42
U.S.C. §§ 1396 et seq. and related regulations.

     “Medical Services” means medical and health care services provided to a Person,
including, but not limited to, medical and health care services provided to a Person which are

20

 

covered by a policy of insurance, and includes, without limitation, physician services, nurse
and therapist services, dental services, hospital services, skilled nursing facility services,
comprehensive outpatient rehabilitation services, home health care services, residential and
out-patient behavioral healthcare services, and medicine or health care equipment provided to a
Person for a necessary or specifically requested valid and proper medical or health purpose.

     “Medicare” means the program of health benefits for the aged and disabled administered
by CMS pursuant to the terms of Title XVIII of the Social Security Act, codified at 42 U.S.C. §§
1395 et seq. and related regulations.

     “Moody’s” means Moody’s Investors Service, Inc. and any successor thereto.

     “Mortgage Instrument” means, for any Real Property Asset, a first lien priority fee or
leasehold mortgage, deed of trust or deed to secure debt in favor of the Administrative Agent (for
the benefit of the Lenders) with respect to such Real Property Asset. Each Mortgage Instrument
shall be in form and substance satisfactory to the Administrative Agent and suitable for recording
in the applicable jurisdiction.

     “Mortgage Policies” shall have the meaning assigned to such term in the definition of
“Real Property Asset Deliverables” contained in this Section 1.01.

     “Multiemployer Plan” means any employee benefit plan of the type described in Section
4001(a)(3) of ERISA, to which Aviv or any ERISA Affiliate makes or is obligated to make
contributions, or during the preceding five plan years, has made or been obligated to make
contributions.

     “Negative Pledge” means any agreement (other than this Credit Agreement or any other
Credit Document) that in whole or in part prohibits the creation of any Lien on any assets of a
Person.

     “Notes” shall mean, collectively, the Revolving Loan Notes and the Term Loan Notes.

     “Obligations” means, without duplication, (a) all advances to, and debts, liabilities,
obligations, covenants and duties of, any Credit Party arising under any Credit Document or
otherwise with respect to any Loan, whether direct or indirect (including those acquired by
assumption), absolute or contingent, due or to become due, now existing or hereafter arising and
including interest and fees that accrue after the commencement by or against any Credit Party under
any Debtor Relief Laws naming such Person as the debtor in such proceeding, regardless of whether
such interest and fees are allowed claims in such proceeding and (b) all obligations under any
Secured Swap Contract of any Credit Party to which a Secured Swap Counterparty is a party.

     “Operating Tenant” means any Person who is a lessee with respect to the Facility
Operating Leases or any other lease of an entire Real Property Asset held by any Borrower as lessor
or as an assignee of the lessor thereunder.

     “Organization Documents” means, (a) with respect to any corporation, the certificate
or articles of incorporation and the bylaws (or equivalent or comparable constitutive documents

21

 

with respect to any non-U.S. jurisdiction); (b) with respect to any limited liability company,
the certificate or articles of formation or organization and operating agreement; and (c) with
respect to any partnership, joint venture, trust or other form of business entity, the partnership,
joint venture or other applicable agreement of formation or organization and any agreement,
instrument, filing or notice with respect thereto filed in connection with its formation or
organization with the applicable Governmental Authority in the jurisdiction of its formation or
organization and, if applicable, any certificate or articles of formation or organization of such
entity.

     “Other Taxes” means all present or future stamp or documentary taxes or any other
excise or property taxes, charges or similar levies arising from any payment made hereunder or
under any other Credit Document or from the execution, delivery or enforcement of, or otherwise
with respect to, this Credit Agreement or any other Credit Document.

     “Outstanding Amount” means the aggregate outstanding principal amount of the Loans
after giving effect to any Borrowings and prepayments or repayments of the Loans, as the case may
be, occurring on such date.

     “Overpaying Borrower” has the meaning provided in Section 2.12(j).

     “Overpayment Amount” has the meaning provided in Section 2.12(j).

     “Parent Borrower” has the meaning specified in the introductory paragraph hereto.

     “Participant” has the meaning provided in Section 10.06(d).

     “Patriot Act” — Means the USA Patriot Act, Pub. L. No. 107-56 et seq.

     “Payment Date” has the meaning provided in Section 2.03(a)(i)(B), and is the
date that a regularly scheduled payment of interest is due.

     “PBGC” means the Pension Benefit Guaranty Corporation.

     “Pension Plan” means any “employee pension benefit plan” (as such term is defined in
Section 3(2) of ERISA), other than a Multiemployer Plan, that is subject to Title IV of ERISA and
is sponsored or maintained by Aviv or any ERISA Affiliate or to which Aviv or any ERISA Affiliate
contributes or has an obligation to contribute, or in the case of a multiple employer or other plan
described in Section 4064(a) of ERISA, has made contributions at any time during the immediately
preceding five plan years.

     “Permitted Fund Manager” means any Person that on the date of determination is (i) a
nationally-recognized manager of investment funds investing in debt or equity interests relating to
commercial real estate, (ii) investing through a fund with committed capital of at least
$250,000,000 and (iii) not subject to any case, proceeding or other action under any existing or
future law of any jurisdiction relating to bankruptcy, insolvency, reorganization or relief of
debtors.

22

 

     “Permitted Holders” means LG Aviv L.P. (or any other investment fund that is an
Affiliate of Lindsay Goldberg LLC) and the other holders or potential holders party to the
documents evidencing the Equity Investment on the Closing Date and any other direct or indirect
limited partner of Aviv existing as of the Closing Date and other holders resulting from
participation in an employee compensation plan.

     “Permitted Liens” means, as to any Person: (a) Liens securing taxes, assessments and
other charges or levies imposed by any Governmental Authority (excluding any Lien imposed pursuant
to any of the provisions of ERISA), in each case, (i) which are not yet due and payable or (ii)
which are not required to be paid in accordance with Section 6.06(a); (b) Liens evidencing
the claims of materialmen, mechanics, carders, warehousemen or landlords for labor, materials,
supplies or rentals, in each case, incurred in the ordinary course of business and which are not at
the time required to be paid or discharged; provided, that with respect to any Real
Property Asset, no exception is taken therefor in the related Mortgage Policy or such Mortgage
Policy otherwise affirmatively insures over such Liens in form and substance satisfactory to the
Administrative Agent or otherwise contests in accordance with Section 7.01; (c) Liens
consisting of deposits or pledges made, in the ordinary course of business, in connection with, or
to secure payment of, obligations under workmen’s compensation, unemployment insurance or similar
applicable Laws; (d) zoning restrictions, easements, rights-of-way, covenants, reservations and
other rights, restrictions or encumbrances of record on the use of Real Property Assets, which do
not materially detract from the value of such property or materially impair the use thereof for the
business of such Person; (e) Liens in existence as of the Closing Date as set forth on Schedule
7.01 and, with respect to the Real Property Assets, as set forth on the Mortgage Policies (or
updates thereto) delivered in connection herewith; (f) Liens, if any, securing the Obligations in
favor of the Administrative Agent for the benefit of the Lenders; (g) Liens arising pursuant to
leases or subleases of immaterial portions of any Real Property Asset owned by any of the Borrowers
granted to others not interfering in any material respect with such Real Property Asset or the
business of the applicable Borrower; (h) liens created by or resulting from any litigation or legal
proceeding that does not constitute an Event of Default which is being contested in good faith in
accordance with Section 7.01; (i) additional Liens so long as the principal amount of
Indebtedness and other obligations secured thereby does not exceed $3,000,000 in the aggregate for
all Borrowers at any one time outstanding; (j) Liens of the HUD Loans in accordance herewith and
(k) Liens and encumbrances accepted or permitted in writing by the Administrative Agent.

     “Person” means any natural person, corporation, limited liability company, trust,
joint venture, association, company, partnership, Governmental Authority or other entity.

     “Plan” means any “employee benefit plan” (as such term is defined in Section 3(3) of
ERISA) established by Aviv or, with respect to any such plan that is subject to Section 412 of the
Internal Revenue Code or Title IV of ERISA, any ERISA Affiliate.

     “Platform” has the meaning specified in Section 6.02.

     “Prepayment Premium” means (a) one percent (1%) of the outstanding amount of the Loans
for the period from the Closing Date through and including the third anniversary of the Closing
Date and (b) zero, at all times thereafter.

23

 

     “Prohibited Person” means any Person (i) listed in the annex to, or who is otherwise
subject to the provisions of, Executive Order No. 13224 on Terrorist Financing, effective September
24, 2001, and relating to Blocking Property and Prohibiting Transactions With Persons Who Commit,
Threaten to Commit, or Support Terrorism (the “Executive Order”); (ii) that is owned or
controlled by, or acting for or on behalf of, any person or entity that is listed in the annex to,
or is otherwise subject to the provisions, of the Executive Order; (iii) with whom a Person is
prohibited from dealing or otherwise engaging in any transaction by any terrorism or money
laundering Law, including the Executive Order; (iv) who commits, threatens or conspires to commit
or supports “terrorism” as defined in the Executive Order; (v) that is named as a “specially
designated national and blocked person” on the most current list published by the U.S. Treasury
Department Office of Foreign Assets Control at its official website or at any replacement website
or other replacement official publication of such list; or who is an Affiliate of a Person listed
in clauses (i) — (v) above.

     “Qualified Healthcare Executive” means a reputable individual or management company
with executive experience managing a healthcare property management company.

     “Qualified Transferee” means one or more of the following:

          (a) a real estate investment trust, bank, saving and loan association, investment bank,
insurance company, trust company, commercial credit corporation, pension plan, pension fund or
pension advisory firm, mutual fund, government entity or plan, provided that any such Person
referred to in this clause (a) satisfies the Eligibility Requirements;

          (b) investment company, money management firm or “qualified institutional buyer” within
the meaning of Rule 144A under the Securities Act of 1933, as amended, or an institutional
“accredited investor” within the meaning of Regulation D under the Securities Act of 1933, as
amended, provided that any such Person referred to in this clause (b) satisfies the Eligibility
Requirements;

          (c) an institution substantially similar to any of the foregoing entities described in
clauses (a) or (b) that satisfies the Eligibility Requirements;

          (d) any entity directly or indirectly which controls, is controlled by, or is under common
control with, any of the entities described in clauses (a), (b) or (c) above, provided that any
such Person referred to in this clause (d) satisfies the Eligibility Requirements; or

          (e) an investment fund, limited liability company, limited partnership or general
partnership where a Permitted Fund Manager or an entity that is otherwise a Qualified Transferee
under clauses (a), (b), (c) or (d) of this definition acts as the general partner, managing member
or fund manager and at least 50% of the equity interests in such investment vehicle are owned,
directly or indirectly, by one or more entities that otherwise are described in (a), (b), (c) or
(d) of this definition, provided that any such Person referred to in this clause (e) satisfies the
Eligibility Requirements.

     “Real Property Asset” means, a parcel of real or leasehold property, together with all
improvements (if any) thereon (including all tangible personal property owned by the person

24

 

owning
such real or leasehold property) owned in fee simple or leased pursuant to an Eligible
Lease by any Borrower; “Real Property Assets” means a collective reference to each Real
Property Asset. Each parcel of real property identified on Schedule 5.12 is a Real
Property Asset, other than the Unimproved Properties, which shall be deemed not to be Real Property
Assets.

     “Real Property Asset Deliverables” means, with respect to any Real Property Asset, a
collective reference to each of the following (with each such item to be in form and substance
reasonably acceptable to the Administrative Agent and delivered to the Administrative Agent with
reasonably sufficient notice to allow review of same) unless otherwise waived by the Administrative
Agent in its reasonable discretion:

     (a) a fully executed and notarized Mortgage Instrument with respect to such Real Property
Asset and a related legal opinion from special local counsel to the Borrowers opining as to the
propriety of the form of such documents for recording in the applicable jurisdiction and such other
matters as may be reasonably required by the Administrative Agent;

     (b) a fully executed copy of any Facility Operating Lease applicable to such Real Property
Asset, together with an estoppel certificate from the applicable Eligible Tenant and, to the extent
required under the terms of the Facility Operating Lease, a subordination, non-disturbance and
attornment agreement with respect to such Facility Operating Lease (the “Facility Operating Lease
SNDA”), the form of such Facility Operating Lease SNDA shall be as required under the Facility
Operating Lease or, if no form is prescribed under the terms of the Facility Operating Lease, then
such other form as is reasonably acceptable to the applicable Borrower, the applicable Eligible
Tenant and the Administrative Agent;

     (c) in the case of a Real Property Asset which constitutes a ground leasehold interest,
evidence that (i) the applicable lease, a memorandum of lease with respect thereto, or other
evidence of such lease in form and substance reasonably satisfactory to the Administrative Agent,
has been properly recorded in all places to the extent necessary or desirable, in the reasonable
judgment of the Administrative Agent, so as to enable the Mortgage Instrument encumbering such
leasehold interest to effectively create a valid and enforceable first priority lien (subject to
Permitted Liens and required landlord consents) on such ground leasehold interest in favor of the
Administrative Agent (or such other Person as may be required or desired under local law) for the
benefit of Lenders and (ii) such lease qualifies as an Eligible Lease hereunder, together with such
estoppels, waivers, consents and/or agreements from the lessor under such Eligible Lease as are
required by the terms thereof or otherwise reasonably requested by the Administrative Agent;
provided, that, no more than 7 such ground leaseholds shall exist at any time;

     (d) maps or plats of an as-built survey of the site constituting the Real Property Asset
sufficient in all cases to delete the standard survey exception from the applicable Mortgage
Policy;

     (e) a FIRREA-compliant MAI appraisal, commissioned, reviewed and approved by the
Administrative Agent (or otherwise acceptable to the Administrative Agent, in its discretion) with
respect to such Real Property Asset;

25

 

     (f) reasonable evidence as to the compliance of such Real Property Asset and the
improvements related thereto with applicable zoning and use requirements; zoning letters or an
appropriate zoning endorsement to the Applicable Mortgage Policy shall be deemed reasonably
satisfactory evidence of compliance;

     (g) an ALTA mortgagee title insurance policy (or its equivalent in non-ALTA jurisdictions)
with respect to the applicable Real Property Asset (each, a “Mortgage Policy” and collectively, the
“Mortgage Policies”), assuring the Administrative Agent that the Mortgage Instrument creates a
valid and enforceable first priority mortgage lien on the applicable Real Property Asset in an
amount equal to its Allocated Loan Value, free and clear of all defects and encumbrances except
Permitted Liens, which Mortgage Policy shall (i) be in an amount acceptable to the Administrative
Agent, (ii) be from an insurance company reasonably acceptable to the Administrative Agent (it
being agreed that Chicago Title Insurance Company is acceptable to the Administrative Agent), (iii)
include such available endorsements and reinsurance as the Administrative Agent may reasonably
require and (iv) otherwise satisfy the reasonable title insurance requirements of the
Administrative Agent;

     (h) evidence as to whether the applicable Real Property Asset is in an area designated by
the Federal Emergency Management Agency as having special flood or mud slide hazards (a “Flood
Hazard Property”) and if such Real Property Asset is a Flood Hazard Property, (i) the applicable
Borrower’s written acknowledgment of receipt of written notification from the Administrative Agent
(A) as to the fact that such Real Property Asset is a Flood Hazard Property and (B) as to whether
the community in which each such Flood Hazard Property is located is participating in the National
Flood Insurance Program and (ii) copies of insurance policies or certificates of insurance
evidencing flood insurance reasonably satisfactory to the Administrative Agent and naming the
Administrative Agent as sole loss payee on behalf of the Lenders under a standard mortgagee
endorsement;

     (i) copies of any material subleases which would be required to be disclosed on Part V of
Schedule 5.12 hereof with respect to such Real Property Asset;

     (j) reasonable evidence that the Operating Tenant under the applicable Facility Operating
Lease is an Eligible Tenant;

     (k) a Phase I environmental assessment and, if reasonably required by the Administrative
Agent, a Phase II environmental assessment, from an environmental consultant acceptable to the
Administrative Agent, dated as of a date reasonably acceptable to the Administrative Agent and
indicating that, as of such date, no Hazardous Substances or other conditions on, under or with
respect to the applicable Real Property Asset constitute a violation of any Environmental Laws and
that, in any case, no commercially unreasonable amount of any Hazardous Substances are located on
or under such Real Property Asset;

     (l) a current engineering report or architect’s certificate with respect to such Real
Property Asset, covering, among other matters, inspection of heating and cooling systems, roof and
structural details and showing no failure of compliance with building plans and specifications,
applicable legal requirements (including requirements of the Americans with Disabilities Act) and
fire, safety and health standards (the “Property Condition Report”

26

 

whether one or more), which shall, if reasonably requested by Administrative Agent, also
include an assessment of such Real Property Asset’s tolerance for earthquake and seismic activity;

     (m) if required by the Administrative Agent and to the extent available, certificates of
occupancy for each such Real Property Asset or evidence of the issuance thereof; and

     (n) reasonable evidence of insurance coverage with respect to such Real Property Asset
meeting the requirements set forth herein and establishing the Administrative Agent as loss payee,
as required pursuant to the terms hereof.

     “Register” has the meaning provided in Section 10.06(c).

     “REIT” means a real estate investment trust as defined in Sections 856-860 of the
Internal Revenue Code.

     “REIT Party” means, Aviv REIT, Inc., a Maryland corporation.

     “Related Parties” means, with respect to any Person, such Person’s Affiliates and the
partners, directors, officers, employees, agents and advisors of such Person and of such Person’s
Affiliates.

     “Release Price” has the meaning provided in Section 9.12.

     “Release Project” has the meaning provided in Section 9.12.

     “Renovation Project” means the renovation of a Real Property Asset subsequent to the
Closing Date, whether to a currently owned Real Property Asset or as part of an Acquisition of a
Real Property Asset, including any acquisition which includes material amounts for replacement or
refurbishment of any furniture, fixtures or equipment in the Real Property Asset.

     “Rental Revenue” means all cash amounts collected by the Consolidated Borrower Parties
relating to the Real Property Assets (which shall include (i) rental income characterized for
accounting purposes as interest on or repayments of loans for tenant improvements but excluding any
notes payable for past due rent and any rent for any Real Property Asset for any time it is
operated by any Credit Party or Affiliate as a Short Term Operator and (ii) accrued rental
reasonably acceptable to the Administrative Agent for assets transitioned in the most recently
completed twelve (12) month period provided that with respect to any ground leased Real Property
Asset, all such cash amounts collected shall be net of any rental payments required to be paid by
Aviv or the Borrowers under any such ground lease) for the period in question (and if none
specified, then for the most recently completed four fiscal quarter period, as determined under
GAAP (excluding any straight lining of rent), but excluding (a) nonrecurring income and
non-property related income and any notes payable (as determined by Administrative Agent in its
reasonable discretion) and income from tenants and/or residents that is classified as “bad debt”
under generally accepted accounting principles, (b) other revenue for such period not to exceed ten
percent (10%) of the amounts included in clause (a) above for laundry, vending, parking and other
occupancy payments (but excluding late fees and interest income) based upon collections for such
period; and (c) amounts during any such restoration under Section 6.21.

27

 

     “Reportable Event” means any of the events set forth in Section 4043(c) of ERISA,
other than events for which the thirty-day notice period has been waived.

     “Request for Extension” means a request for extension of the Maturity Date in
substantially the form of Exhibit I attached hereto.

     “Required Lenders” means, as of any date of determination, two or more unaffiliated
Lenders the total of whose Loans and unused Commitments exceeds 50% of the outstanding Loans and
unused Commitments of all Lenders entitled to vote hereunder; provided that the Loans and
unused Commitments held or deemed held by, any Defaulting Lender shall be excluded for purposes of
making a determination of Required Lenders.

     “Responsible Officer” means the chief executive officer, president, chief operating
officer, secretary and chief financial officer of the Parent Borrower. Any document delivered
hereunder that is signed by a Responsible Officer of a Credit Party shall be conclusively presumed
to have been authorized by all necessary corporate, partnership and/or other action on the part of
such Credit Party and such Responsible Officer shall be conclusively presumed to have acted on
behalf of such Credit Party.

     “Revolving Commitment Period” means the period from and including the Closing Date to
the earlier of (a) the Revolving Commitment Termination Date or (b) the date on which the Revolving
Loan Commitment shall have been terminated as provided herein.

     “Revolving Commitment Termination Date” means September 17, 2013.

     “Revolving Loan Commitment” shall mean the several obligations of the Lenders to fund
their respective portions of the Revolving Loans to the Borrower in accordance with their
respective Revolving Loan Commitment Ratios in the aggregate sum of up to $100,000,000.00, pursuant
to the terms hereof, as such obligations may be reduced from time to time, pursuant to the terms
hereof.

     “Revolving Loan Commitment Ratio” shall mean with respect to any Lender with an
obligation to fund under the Revolving Loan Commitment, the percentage equivalent of the ratio
which such Lender’s portion of the Revolving Loan Commitment bears to the aggregate amount of the
Revolving Loan Commitment (as each may be adjusted from time to time as provided herein); and
“Revolving Loan Commitment Ratios” means, with respect to the Revolving Loan Commitment,
Revolving Loan Commitment Ratios of all the Lenders with respect to the Revolving Loan Commitment.
As of the Closing Date, the Revolving Loan Commitment Ratios of the Lenders party to this Agreement
(together with the dollar amount of their respective portion of the Revolving Loan Commitment) are
as set forth on Schedule 5 attached hereto.

     “Revolving Loans” shall mean those amounts advanced by the Lenders to the Borrower
under the Revolving Loan Commitment not to exceed the amount of the Revolving Loan Commitment at
any time and evidenced by the Revolving Loan Notes.

     “Revolving Loan Note” shall mean each of those certain Revolving Loan Notes, dated as
of the Closing Date, in the aggregate original principal amount not to exceed $100,000,000.00, and
issued in the amount of its Revolving Loan Commitment to each of the Lenders who

28

 

requests such a Revolving Loan Note by the Borrower and any other promissory note issued by
the Borrower to evidence the Revolving Loans pursuant to this Agreement, each substantially in the
form of Exhibit B attached hereto, and any extensions, renewals, or amendments to, or
replacements of, the forgoing.

     “S&P” means Standard & Poor’s Ratings Services, a division of The McGraw-Hill
Companies, Inc. and any successor thereto.

     “Sale and Leaseback Transaction” means, with respect to any Credit Party, any
arrangement, directly or indirectly, with any person whereby such Credit Party shall sell or
transfer any property, real or personal, used or useful in its business, whether now owned or
hereafter acquired, and thereafter rent or lease such property or other property that it intends to
use for substantially the same purpose or purposes as the property being sold or transferred.

     “Sarbanes-Oxley” means the Sarbanes-Oxley Act of 2002.

     “SEC” means the Securities and Exchange Commission, or any Governmental Authority
succeeding to any of its principal functions.

     “Secured Pari Swap Contract” means a Secured Swap Contract with a Secured Swap
Counterparty the obligations under which are secured pari passu with the Obligations hereunder

     “Secured Subordinated Swap Contract” means a Secured Swap Contract with a Secured Swap
Counterparty the payment obligations under which and Liens securing are fully subordinated to the
Obligations (excluding Secured Subordinated Swap Contracts) hereunder pursuant to a subordination
agreement in form and substance reasonably satisfactory to the Administrative Agent.

     “Secured Swap Contract” means any Swap Contract that (a) has been entered into with a
Secured Swap Counterparty, (b) in the case of a Swap Contract not entered into with or provided or
arranged by the Administrative Agent or an Affiliate of the Administrative Agent, is expressly
identified as being a “Secured Swap Contract” hereunder in a joint notice from such Credit Party
and such Person delivered to the Administrative Agent reasonably promptly after the execution of
such Swap Contract and (c) meets the requirements of Section 7.02(d).

     “Secured Swap Counterparty” means (a) a Person who has entered into a Swap Contract
with a Credit Party if such Swap Contract was provided or arranged by the Administrative Agent or
an Affiliate of the Administrative Agent, and any assignee of such Person or (b) a Lender or an
Affiliate of a Lender who has entered into a Swap Contract with a Credit Party (or a Person who was
a Lender or an Affiliate of a Lender at the time of execution and delivery of the Swap Contract).

     “Securities Laws” means the Securities Act of 1933, the Securities Exchange Act of
1934, Sarbanes-Oxley and the applicable accounting and auditing principles, rules, standards and
practices promulgated, approved or incorporated by the SEC or the Public Company Accounting
Oversight Board, as each of the foregoing may be amended and in effect on any applicable date
hereunder.

29

 

     “Securitization Transaction” means any financing or factoring or similar transaction
(or series of such transactions) entered by any member of the Consolidated Borrower Parties
pursuant to which such member of the Consolidated Borrower Parties may sell, convey or otherwise
transfer, or grant a security interest in, accounts, payments, receivables, rights to future lease
payments or residuals or similar rights to payment (the “Securitization Receivables”) to a
special purpose subsidiary or affiliate (a “Securitization Subsidiary”) or any other
Person.

     “Security Agreement” means the security agreement dated as of the date hereof in the
form of Exhibit H, as amended, supplemented, restated or otherwise modified from time to time.

     “Short Term Operator” means any Credit Party which due to exigent circumstances
becomes the operator of any Real Property Asset provided that such operation shall not continue for
more than nine months from its inception and shall impact no more than 3 Real Property Assets at
any time or as otherwise reasonably acceptable to the Administrative Agent.

     “Solvent” means, with respect to any person on a particular date, that on such date
(a) the fair value of the property of such Person is greater than the total amount of liabilities,
including, without limitation, contingent liabilities, of such Person, (b) the present fair
saleable value of the assets of such Person is not less than the amount that will be required to
pay the probable liability of such Person on its debts as they become absolute and matured, (c)
such Person is able to realize upon its assets and pay its debts and other liabilities, contingent
obligations and other commitments as they mature, (d) such Person does not intend to, and does not
believe that it will, incur debts or liabilities beyond such Person’s ability to pay as such debts
and liabilities mature, and (e) such Person is not engaged in a business or a transaction, and is
not about to engage in a business or a transaction, for which such Person’s property would
constitute unreasonably small capital after giving due consideration to the prevailing practice in
the industry in which such Person is engaged. In computing the amount of contingent liabilities at
any time, it is intended that such liabilities will be computed at the amount which, in light of
all the facts and circumstances existing at such time, represents the amount that can reasonably be
expected to become an actual or matured liability.

     “State Regulator” means the applicable state department of health or other applicable
state regulatory agency with jurisdiction over the Borrower, the Eligible Tenants or the Real
Property Assets with respect to the Healthcare Laws affecting the maintenance, use or operation of
the Real Property Assets or the provision of services to the occupants of the Real Property Assets.

     “Subsidiary” of a Person means a corporation, partnership, joint venture, limited
liability company or other business entity of which a majority of the shares of securities or other
interests having ordinary voting power for the election of directors or other governing body (other
than securities or interests having such power only by reason of the happening of a contingency)
are at the time beneficially owned, or the management of which is otherwise controlled, directly,
or indirectly through one or more intermediaries, or both, by such Person. Unless otherwise
provided, “Subsidiary” shall refer to a Subsidiary of the Parent Borrower and shall include
all of the Borrowers.

30

 

     “Support Obligations” means, as to any Person, (a) any obligation, contingent or
otherwise, of such Person guaranteeing or having the economic effect of guaranteeing any
Indebtedness or other obligation payable or performable by another Person (the “primary obligor”)
in any manner, whether directly or indirectly, and including any obligation of such Person, direct
or indirect, (i) to purchase or pay (or advance or supply funds for the purchase or payment of)
such Indebtedness or other obligation, (ii) to purchase or lease property, securities or services
for the purpose of assuring the obligee in respect of such Indebtedness or other obligation of the
payment or performance of such Indebtedness or other obligation, (iii) to maintain working capital,
equity capital or any other financial statement condition or liquidity or level of income or cash
flow of the primary obligor so as to enable the primary obligor to pay such Indebtedness or other
obligation, or (iv) entered into for the purpose of assuring in any other manner the obligee in
respect of such Indebtedness or other obligation of the payment or performance thereof or to
protect such obligee against loss in respect thereof (in whole or in part), or (b) any Lien on any
assets of such Person securing any Indebtedness or other obligation of any other Person, whether or
not such Indebtedness or other obligation is assumed by such Person. The amount of any Support
Obligations shall be deemed to be an amount equal to the stated or determinable amount of the
related primary obligation, or portion thereof, in respect of which such Support Obligation is made
or, if not stated or determinable, the maximum reasonably anticipated liability in respect thereof
as determined by the guaranteeing Person in good faith.

     “Swap Contract” means (a) any and all rate swap transactions, basis swaps, credit
derivative transactions, forward rate transactions, commodity swaps, commodity options, forward
commodity contracts, equity or equity index swaps or options, bond or bond price or bond index
swaps or options or forward bond or forward bond price or forward bond index transactions, interest
rate options, forward foreign exchange transactions, cap transactions, floor transactions, collar
transactions, currency swap transactions, cross-currency rate swap transactions, currency options,
spot contracts, or any other similar transactions or any combination of any of the foregoing
(including any options to enter into any of the foregoing), whether or not any such transaction is
governed by or subject to any master agreement, and (b) any and all transactions of any kind, and
the related confirmations, that are subject to the terms and conditions of, or governed by, any
form of master agreement published by the International Swaps and Derivatives Association, Inc.,
any International Foreign Exchange Master Agreement, or any other master agreement (any such master
agreement, together with any related schedules, a “Master Agreement”), including any such
obligations or liabilities under any Master Agreement.

     “Swap Termination Value” means, in respect of any one or more Swap Contracts, after
taking into account the effect of any legally enforceable netting agreement relating to such Swap
Contracts, (a) for any date on or after the date such Swap Contracts have been closed out and
termination values determined in accordance therewith, such termination values, and (b) for any
date prior to the date referenced in clause (a), the amounts determined as the mark-to-market
values for such Swap Contracts, as determined based upon one or more mid-market or other readily
available quotations provided by any recognized dealer in such Swap Contracts (which may include a
Lender or any Affiliate of a Lender).

31

 

     “Synthetic Lease” means any synthetic lease, tax retention operating lease,
off-balance sheet loan or similar off-balance sheet financing arrangement that is considered
borrowed money indebtedness for tax purposes but is classified as an operating lease under GAAP.

     “Taxes” means all present or future taxes, levies, imposts, duties, deductions,
withholdings (including backup withholding), assessments, fees or other charges imposed by any
Governmental Authority, including any interest, additions to tax or penalties applicable thereto.

     “Tenant Background Information” means standard background checks and due diligence
related to compliance with the Bank Secrecy Act, the Patriot Act and any other federally regulated
customer due diligence requirements that may be or become applicable to any tenant or potential
tenant.

     “Term Loan Commitment” shall mean the several obligations of the Lenders to fund their
respective portions of the Term Loans to the Borrower on the Closing Date as set forth in
Section 2.01(b) hereof, in accordance with their respective Term Loan Commitment Ratios in
the aggregate sum of $405,000,000.00, pursuant to the terms hereof.

     “Term Loan Commitment Ratios” shall mean the percentages in which the Lenders are
severally bound to fund their respective portions of Advances to the Borrower under the Term Loan
Commitment, which are set forth (together with dollar amounts) as of the Agreement Date on
Schedule 5 attached hereto.

     “Term Loans” shall mean, collectively, the amounts advanced by the Lenders to the
Borrower under the Term Loan Commitment, not to exceed the amount of the Term Loan Commitment and
evidenced by the Term Loan Notes, as applicable.

     “Term Loan Note” shall mean each of those certain Term Loan Notes, dated as of the
Closing Date, in the aggregate original principal amount not to exceed $405,000,000.00, and issued
in the amount of its Term Loan Commitment to each of the Lenders who requests such a Term Loan Note
by the Borrower and any other promissory note issued by the Borrower to evidence the Term Loans
pursuant to this Agreement, each substantially in the form of Exhibit F attached hereto,
and any extensions, renewals, or amendments to, or replacements of, the forgoing.

     “Threshold Amount” means $3,000,000.

     “Triggering Event” means the occurrence of either of the following events: (a)
following a Bernfield Disabling Event, the Day-to-day Management Control of the Borrowers not being
vested in the Bernfield Designee or (b) LG being vested with the right to replace Craig M.
Bernfield and the Bernfield Designee.

     “Unfunded Pension Liability” means the excess of a Pension Plan’s benefit liabilities
under Section 4001(a)(16) of ERISA, over the current value of that Pension Plan’s assets,
determined in accordance with the assumptions used for funding the Pension Plan pursuant to Section
412 of the Internal Revenue Code for the applicable plan year.

32

 

     “Unimproved Property(ies)” shall mean the four (4) unimproved parcels of real estate
identified as such on Schedule 5.12.

     “United States” or “U.S.” means the United States of America.

     “Unused Fee” shall have the meaning provided in Section 2.06(a).

	1.02.	 	Interpretive Provisions.

     With reference to this Credit Agreement and each other Credit Document, unless otherwise
provided herein or in such other Credit Document:

     (a) The meanings of defined terms are equally applicable to the singular and plural forms
of the defined terms.

     (b) (i) The words “herein,” “hereto,” “hereof” and “hereunder” and words of similar
import when used in any Credit Document shall refer to such Credit Document as a whole and not to
any particular provision thereof.

     (ii) Unless otherwise provided or required by context, Article, Section, Exhibit and
Schedule references are to the Credit Document in which such reference appears.

     (iii) The term “including” is by way of example and not limitation.

     (iv) The term “documents” includes any and all instruments, documents, agreements,
certificates, notices, reports, financial statements and other writings, however evidenced,
whether in physical or electronic form.

     (c) In the computation of periods of time from a specified date to a later specified date,
the word “from” means “from and including”; the words “to” and “until” each mean “to but
excluding”; and the word “through” means “to and including.”

     (d) Section headings herein and in the other Credit Documents are included for convenience
of reference only and shall not affect the interpretation of this Credit Agreement or any other
Credit Document.

1.03. Accounting Terms.

     (a) All accounting terms not specifically or completely defined herein shall be construed
in conformity with, and all financial data (including financial ratios and other financial
calculations) required to be submitted pursuant to this Credit Agreement shall be prepared in
conformity with, GAAP applied on a consistent basis, as in effect from time to time, except as
otherwise specifically prescribed herein.

     (b) The Parent Borrower will provide a written summary of material changes in GAAP or in
the consistent application thereof with each annual and quarterly Compliance Certificate delivered
in accordance with Section 6.02(a). If at any time any change in GAAP or

33

 

in the consistent
application thereof would affect the computation of any financial ratio or requirement
set forth in any Credit Document, and either the Parent Borrower or the Required Lenders shall
so request, the Administrative Agent and the Borrowers shall negotiate in good faith to amend such
ratio or requirement to preserve the original intent thereof in light of such change in GAAP
(subject to the approval of the Required Lenders); provided that, until so amended,
such ratio or requirement shall continue to be computed in accordance with GAAP prior to such
change therein.

1.04. Rounding.

     Any financial ratios required to be maintained by the Credit Parties pursuant to this Credit
Agreement shall be calculated by dividing the appropriate component by the other component,
carrying the result to one place more than the number of places by which such ratio is expressed
herein and rounding the result up or down to the nearest number (with a rounding-up if there is no
nearest number).

1.05. References to Agreements and Laws.

     Unless otherwise expressly provided herein, (a) references to Organization Documents,
agreements (including the Credit Documents) and other contractual instruments shall be deemed to
include all subsequent amendments, restatements, extensions, supplements and other modifications
thereto, but only to the extent that such amendments, restatements, extensions, supplements and
other modifications are not prohibited by any Credit Document; and (b) references to any Law shall
include all statutory and regulatory provisions consolidating, amending, replacing, supplementing
or interpreting such Law.

1.06. Times of Day.

     Unless otherwise provided, all references herein to times of day shall be references to
Central time (daylight or standard, as applicable).

ARTICLE II

COMMITMENTS AND ADVANCES

2.01. Commitments.

     (a) Revolving Loans. The Lenders who issued the Revolving Loan Commitment agree,
severally, in accordance with their respective Revolving Loan Commitment Ratios and not jointly,
upon the terms and subject to the conditions of this Agreement to lend and relend to the Borrowers,
from the Closing Date until the Revolving Commitment Termination Date amounts which do not exceed,
in the aggregate, at the time of any Advance under the Revolving Loan Commitment the amount of the
Available Revolving Loan Commitment as then in effect. Subject to the terms and conditions hereof,
Advances under the Revolving Loan Commitment may be repaid and reborrowed from time to time on a
revolving basis.

     (b) Term Loan. The Lenders who issued the Term Loan Commitment agree, severally,
in accordance with their respective Term Loan Commitment Ratios, and not jointly, upon the terms
and subject to the conditions of this Agreement, to lend to the Borrowers on the

34

 

Closing
Date an amount which does not exceed in the aggregate the Term Loan Commitment. Once repaid,
Advances under the Term Loan Commitment may not be reborrowed.

2.02. Advances of the Revolving Loans.

     (a) Each Advance of the Revolving Loans shall be made upon the Borrower Representative’s
irrevocable Loan Borrowing Notice to the Administrative Agent, which may be given by telephone.
Each such notice must be received by the Administrative Agent not later than 11:00 a.m., three (3)
Business Days prior to the requested date of any Advance. Each telephonic notice pursuant to this
Section 2.02(a) must be confirmed promptly by delivery to the Administrative Agent of a
written Loan Borrowing Notice, appropriately completed and signed by a Responsible Officer. Each
Borrowing shall be in a principal amount of not less than $1,000,000 and there shall be no more
than one (1) Borrowing per month. Each Loan Borrowing Notice (whether telephonic or written) shall
specify (i) the requested date of such Borrowing (which shall be a Business Day) and (ii) the
principal amount of Advances to be borrowed.

     (b) Following receipt of a Loan Borrowing Notice, the Administrative Agent shall promptly
notify each Lender of the amount of its Commitment Percentage of the applicable Advance. Each
Lender shall make the amount of its Advance available to the Administrative Agent in immediately
available funds at the Administrative Agent’s Office not later than 2:00 p.m. on the Business Day
specified in the applicable Loan Borrowing Notice; provided that Lender shall have
received the Loan Borrowing Notice no less than two (2) Business Days prior to the Business Day
specified in the applicable Loan Borrowing Notice. Upon satisfaction of the applicable conditions
set forth in Sections 4.02 and 4.03 (and, if such Borrowing is the initial Advance,
Section 4.01), the Administrative Agent shall make all funds so received available to the
party referenced in the applicable Loan Borrowing Notice in like funds as received by the
Administrative Agent either by (i) crediting the account of the applicable party on the books of
the Administrative Agent with the amount of such funds or (ii) wire transfer of such funds, in each
case in accordance with instructions provided to (and reasonably acceptable to) the Administrative
Agent by the Borrower Representative.

2.03. Repayment of the Loans.

     The Loans shall be payable as follows:

     (a) Interest and Principal Payments.

     (i) Term Loan.

     (A) The Borrowers shall pay a payment of interest only on the Closing Date
for the period from the date hereof through the last day of the current month
computed at the Contract Rate.

     (B) Commencing on November 1, 2010, and continuing on the first (1st) day
of each calendar month thereafter (each such date a “Payment Date”), the Borrowers
shall pay interest only in arrears computed at the Contract Rate on the outstanding
principal balance of the Loan.

35

 

     (C) Commencing on November 1, 2010, and continuing on each Payment Date
thereafter through and including the Payment Date immediately prior to the Maturity
Date, the Borrowers shall pay installments of principal and interest on the Term
Loan in the amounts set forth in the amortization schedule attached hereto as Part 1
of Schedule 2.03, which payment schedule is based on a twenty-five (25) year
amortization schedule. Each of such payments shall be applied (A) to the payment of
interest computed at the Contract Rate and (B) the balance applied toward reduction
of the principal sum.

     (ii) Revolving Loans.

     (A) The Borrowers shall pay a payment of interest only on the Closing Date
for the period from the date hereof through the last day of the current month
computed at the Contract Rate.

     (B) On each Payment Date, the Borrowers shall pay interest only in arrears
computed at the Contract Rate on the outstanding principal balance of the Loan.

     (C) Commencing on the Revolving Commitment Termination Date, and continuing
on each Payment Date thereafter through and including the Payment Date immediately
prior to the Maturity Date, the Borrowers shall pay installments of principal and
interest on the Revolving Loans in the amounts set forth in the amortization
schedule to be provided by the Administrative Agent on the Revolving Commitment
Termination Date and included thereafter as Part 2 of Schedule 2.03, which
payment schedule will be based on a twenty-five (25) year amortization schedule.
Each of such payments shall be applied (A) to the payment of interest computed at
the Contract Rate and (B) the balance applied toward reduction of the principal sum.

     (b) Replacement Amortization Schedules. After giving effect to any voluntary
prepayments hereunder (other than as a result of the Bond Financing), the Borrower
Representative shall have the right to receive an updated amortization schedule twice during the
term hereof upon request to the Administrative Agent which payment schedule will be based on a
twenty-five (25) year amortization schedule and included thereafter as Parts 1 and/or 2, of
Schedule 2.03, as applicable.

     (c) Maturity. On the Maturity Date, the Borrower shall pay to the Lender all
outstanding principal, accrued and unpaid interest, default interest, late charges and any and all
other Obligations due under the Credit Documents.

2.04. Prepayments.

     (a) Revolving Loans.

     (i) Voluntary Prepayments. Once fully funded, the Revolving Loans may be
repaid in whole, but not in part, without any Prepayment Premium or penalty, provided that
(i) notice thereof must be received by 11:00 a.m. by the Administrative Agent at least

36

 

three (3) Business Days prior to the date of prepayment, and (ii) any such prepayment
shall be accompanied by all accrued and unpaid interest on the Revolving Loans and breakage
amounts, if any, under Section 3.05. Each such notice of voluntary repayment
hereunder shall be irrevocable and shall specify the Revolving Loans are to be prepaid. The
Administrative Agent will give prompt notice to the applicable Lenders of any prepayment on
the Revolving Loans and the Lender’s interest therein.

     (ii) Mandatory Prepayment. If at any date, the aggregate principal amount
of the Obligations outstanding under the Revolving Loans shall exceed the Available
Revolving Loan Commitment for such date, Borrowers shall within thirty (30) days after such
determination, make a prepayment on the Loan in an amount equal to such excess.

     (iii) Application. Prepayments on the Revolving Loans will be paid by the
Administrative Agent to the Lenders ratably in accordance with their respective interests
therein.

     (b) Term Loan.

     (i) Voluntary Prepayments. The Term Loan may be repaid in whole, or in
part, provided that (i) notice thereof must be received by 11:00 a.m. by the Administrative
Agent at least three (3) Business Days prior to the date of prepayment, and (ii) any such
prepayment shall be accompanied by all accrued and unpaid interest on the Term Loan, the
applicable Prepayment Premium, if any, and breakage amounts, if any, under Section
3.05. Each such notice of voluntary prepayment hereunder shall be irrevocable and shall
specify the Term Loan is to be prepaid. Prepayments on the Term Loan under this Section
2.04(b)(i) shall be applied to prepay the Term Loan as determined by the Administrative
Agent is its reasonable discretion. The Administrative Agent will give prompt notice to the
applicable Lenders of any prepayment on the Term Loan and the Lender’s interest therein. No
amounts of principal paid on the Term Loan may be reborrowed, and any prepayment of the Term
Loan shall be deemed to permanently reduce the Term Loan Commitment for each Lender and in
the aggregate.

     (ii) Prepayment Due to Casualty, Condemnation or Dispositions. In the
event of a prepayment resulting from Lender’s application of insurance or condemnation
proceeds pursuant to Section 6.21, Section 6.22 or Section 7.05
hereof, respectively, no Prepayment Premium shall be imposed.

     (c) Character of Prepayment Premium. The Prepayment Premium does not constitute a
penalty, but rather represents the reasonable estimate, agreed to between the Borrower and the
Lenders, of fair compensation for the loss that may be sustained by the Lenders due to the payment
of the Obligations under the Term Loan prior to the Maturity Date.

     (d) Prepayment from Bond Financing. Prior to [___________], 2013, the Loans may
be repaid, without Prepayment Premium or penalty, by up to $250,000,000 from the proceeds of the
Bond Financing, provided that (i) notice thereof must be received by 11:00 a.m. by the
Administrative Agent at least three (3) Business Days prior to the date of prepayment, and (ii) any
such prepayment shall be accompanied by all accrued and unpaid interest on the Loans being

37

 

prepaid and breakage amounts, if any, under Section 3.05. Each such notice of
voluntary repayment hereunder shall be irrevocable and shall specify the Loans to be prepaid.
Prepayments on the Loans from the Bond Financing shall be applied (i) first, to repay the
Revolving Credit Facility (until the revolving loan balance is zero) and (ii) second, to the Term
Loan to the remaining installments thereof on a pro rata basis until paid in full. After
application of the proceeds of the Bond Financing, the Borrower Representative shall have the right
to receive an updated amortization schedule (in addition to those under Section 2.03(b) above) upon
request to the Administrative Agent which payment schedule will be based on a twenty-five (25)
year amortization schedule and included thereafter as Part 1 of Schedule 2.03. The
Administrative Agent will give prompt notice to the applicable Lenders of any prepayment on the
Loans and the Lender’s interest therein.

2.05. Interest.

     (a) Subject to the provisions of subsection (b) below, the Loans and all Advances
thereunder shall bear interest on the outstanding principal amount thereof at a rate per annum
equal to the Contract Rate.

     (b) If any amount payable by the Borrowers under any Credit Document is not paid when due
(without regard to any applicable grace periods), whether at stated maturity, by acceleration or
otherwise, such amount shall thereafter bear interest at a fluctuating interest rate per annum at
all times equal to the Default Rate to the fullest extent permitted by applicable Law.
Furthermore, upon the written request of the Required Lenders, while any Event of Default exists,
the Borrowers shall pay interest on the principal amount of all outstanding Obligations hereunder
at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest
extent permitted by applicable Law. Accrued and unpaid interest on past due amounts (including
interest on past due interest) shall be due and payable upon demand.

     (c) In addition to the application of the Default Rate of interest to past due amounts
hereunder, if Borrower fails to pay any installment of interest or principal within five (5) days
after the date on which the same is due, Borrowers shall pay to Administrative Agent a late charge
on such past due amount, as liquidated damages and not as a penalty, equal to five percent (5%) of
such amount, but not in excess of the maximum amount of interest allowed by applicable Law. The
foregoing late charge is intended to compensate Administrative Agent and Lenders for the expenses
incident to handling any such delinquent payment and for the losses incurred by Administrative
Agent and Lenders as a result of such delinquent payment. Borrowers agree that, considering all of
the circumstances existing on the date this Agreement is executed, the late charge represents a
reasonable estimate of the costs and losses Administrative Agent and Lenders will incur by reason
of late payment. Borrowers, Administrative Agent and Lenders further agree that proof of actual
losses would be costly, inconvenient, impracticable and extremely difficult to fix. Acceptance of
the late charge shall not constitute a waiver of the Default or Event of Default arising from the
past due installment, and shall not prevent Administrative Agent from exercising any other rights
or remedies available to Administrative Agent with respect to such Default or Event of Default.

     (d) Interest on each Loan shall be due and payable in arrears on each Interest Payment
Date applicable thereto and at such other times as may be specified herein. Interest

38

 

hereunder
shall be due and payable in accordance with the terms hereof before and after judgment, and
before and after the commencement of any proceeding under any Debtor Relief Law.

2.06. Fees and Expenses.

     (a) Unused Fee. From and after the Closing Date, the Borrowers agree to pay the
Administrative Agent for the ratable benefit of the Lenders an unused fee (the “Unused Fee”) for
each calendar month (or portion thereof) in an amount equal to the sum of the Daily Unused Fees
incurred during such period. The Unused Fee shall accrue at all times during the Revolving
Commitment Period, including periods during which the conditions to Advances in Section
4.02 may not be met, and shall be payable monthly in arrears on each Payment Date, commencing
with the first such date to occur after the Closing Date, and ending on the Revolving Commitment
Termination Date; provided, that (i) no Unused Fee shall accrue on the Revolving Loan
Commitment of a Defaulting Lender so long as such Lender shall be a Defaulting Lender and (ii) any
Unused Fee accrued with respect to the Revolving Loan Commitment of a Defaulting Lender during the
period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not
be payable by the Borrower so long as such Lender shall be a Defaulting Lender. The Administrative
Agent shall distribute the Unused Fee to the Lenders pro rata in accordance with the respective
Commitment Ratios of the Lenders. The Unused Fee shall be fully earned when paid and shall not be
refundable for any reason whatsoever.

     (b) Administrative Agent’s Fees. The Borrowers agree to pay the Administrative
Agent such fees as provided in the Administrative Agent’s Fee Letter or as may be otherwise agreed
by the Administrative Agent and the Borrowers from time to time.

     (c) Other Fees. On the Closing Date, the Borrowers shall pay to Administrative
Agent (for the ratable benefit of the Lenders) a commitment fee equal to one percent (1%) of the
Aggregate Commitments. Such fees shall be fully earned when paid and shall not be refundable for
any reason whatsoever.

2.07. Termination or Reduction of Commitments.

     The Commitments hereunder may be permanently reduced in whole or in part by notice from the
Borrower Representative to the Administrative Agent; provided that (i) any such notice
thereof must be received by 11:00 a.m. at least five (5) Business Days prior to the date of
reduction or termination and any such prepayment, if any, shall be in a minimum principal amount of
$5,000,000 and integral multiples of $1,000,000 in excess thereof; and (ii) the Commitments may not
be reduced to an amount less than the Revolving Obligations then outstanding. The Administrative
Agent will give prompt notice to the Lenders of any such reduction in Commitments. Any reduction
of the Aggregate Commitments shall be applied to the Commitment of each Lender according to its
Revolving Commitment Percentage thereof. All commitment or other fees accrued until the effective
date of any termination of the Aggregate Commitments shall be paid on the effective date of such
termination. In connection with any such decrease in the Commitments, Schedule 2.07 shall
be revised to reflect the modified Commitments and Commitment Percentages of the Lenders.

39

 

2.08. Computation of Interest.

     All computations of fees and interest shall be made on the basis of a 360-day year and actual
days elapsed (which results in more fees or interest, as applicable, being paid than if computed on
the basis of a 365-day year).

2.09. Payments Generally.

     (a) All payments to be made by the Borrowers shall be made without condition or deduction
for any counterclaim, defense, recoupment or setoff. Except as otherwise expressly provided
herein, all payments by the Borrowers hereunder shall be made to the Administrative Agent, for the
account of the Lenders to which such payment is owed, at the Administrative Agent’s Office in
Dollars and in immediately available funds not later than 2:00 p.m. on the date specified herein.
The Administrative Agent will promptly distribute to each Lender its Commitment Percentage (or
other applicable share as provided herein) of such payment in like funds as received by wire
transfer to such Lender’s Lending Office. All payments received by the Administrative Agent after
2:00 p.m. shall be deemed received on the immediately succeeding Business Day and any applicable
interest or fee shall continue to accrue.

     (b) If any payment to be made by the Borrowers shall come due on a day other than a
Business Day, payment shall be made on the next following Business Day, and such extension of time
shall be reflected in computing interest or fees, as the case may be.

     (c) Unless any Lender has notified the Administrative Agent, prior to the date any payment
is required to be made by it to the Administrative Agent hereunder, that such Lender will not make
such payment, the Administrative Agent may assume that such Lender has timely made such payment and
may (but shall not be so required to), in reliance thereon, make available a corresponding amount
to the Person entitled thereto. If and to the extent that such payment was not in fact made to the
Administrative Agent in immediately available funds, then if any Lender failed to make such
payment, such Lender shall forthwith on demand pay to the Administrative Agent the amount thereof
in immediately available funds, together with interest thereon for the period from the date such
amount was made available by the Administrative Agent to the Borrowers to the date such amount is
recovered by the Administrative Agent (the “Compensation Period”) at a rate per annum equal to the
Federal Funds Rate from time to time in effect. If such Lender pays such amount to the
Administrative Agent, then such amount shall constitute such Lender’s Advance included in the
applicable Borrowing. If such Lender does not pay such amount forthwith upon the Administrative
Agent’s demand therefor, the Administrative Agent may make a demand therefor upon the Borrowers,
and the Borrowers shall pay such amount to the Administrative Agent, together with interest thereon
for the Compensation Period at a rate per annum equal to the rate of interest applicable to the
applicable Borrowing. Nothing herein shall be deemed to relieve any Lender from its obligation to
fulfill its Commitment or to prejudice any rights that the Administrative Agent or the Borrowers
may have against any Lender as a result of any default by such Lender hereunder.

A notice of the Administrative Agent to any Lender with respect to any amount owing under this
subsection (c) shall be conclusive, absent manifest error.

40

 

     (d) If any Lender makes available to the Administrative Agent funds for any Advance to be
made by such Lender as provided in the foregoing provisions of this Article II, and such funds are
not made available to the Borrowers by the Administrative Agent because the conditions to the
applicable Advance set forth in Section 4.02 are not satisfied or waived in accordance with
the terms hereof or for any other reason, the Administrative Agent shall return such funds (in like
funds as received from such Lender) to such Lender within one (1) Business Day, without interest.

     (e) The obligations of the Lenders hereunder to make Loans and to fund Advances are
several and not joint. The failure of any Lender to make any Advance or to fund any such
participation or to make a payment under Section 10.04(c) on any date required hereunder
shall not relieve any other Lender of its corresponding obligation to do so on such date, nor
relieve Borrowers from any obligations hereunder to the Lenders which fulfill such obligations and
no Lender shall be responsible for the failure of any other Lender to so make its Loan, to purchase
its participation or to make its payment under Section 10.04(c).

     (f) Nothing herein shall be deemed to obligate any Lender to obtain the funds for any Loan
in any particular place or manner or to constitute a representation by any Lender that it has
obtained or will obtain the funds for any Loan in any particular place or manner.

     (g) If at any time insufficient funds are received by or are available to the
Administrative Agent to pay fully all amounts of principal, interest and fees then due hereunder,
such funds shall be applied (i) first, toward costs and expenses (including Attorney Costs and
amounts payable under Article III) incurred by the Administrative Agent and each Lender, (ii)
second, toward repayment of interest and fees then due hereunder, ratably among the parties
entitled thereto in accordance with the amounts of interest and fees then due to such parties, and
(iii) third, toward repayment of principal then due hereunder, ratably among the parties entitled
thereto in accordance with the amounts of principal then due to such parties.

2.10. Sharing of Payments.

     If any Lender shall obtain on account of the Advances made by it, any payment (whether
voluntary, involuntary, through the exercise of any right of set-off, or otherwise, but excluding
any payments made to a Lender in error by the Administrative Agent (which such payments shall be
returned by the Lender to the Administrative Agent immediately upon such Lender’s obtaining
knowledge that such payment was made in error)) in excess of its ratable share (or other share
contemplated hereunder) thereof, such Lender shall immediately (a) notify the Administrative Agent
of such fact, and (b) purchase from the other Lenders such participations in the Advances made by
them as shall be necessary to cause such purchasing Lender to share the excess payment in respect
of such Advances or such participations, as the case may be, pro rata with each of them;
provided, however, that if all or any portion of such excess payment is thereafter
recovered from the purchasing Lender under any of the circumstances described in Section
10.06 (including pursuant to any settlement entered into by the purchasing Lender in its
discretion), such purchase shall to that extent be rescinded and each other Lender shall repay to
the purchasing Lender the purchase price paid therefor, together with an amount equal to such
paying Lender’s ratable share (according to the proportion of (i) the amount of such paying
Lender’s required repayment to (ii) the total amount so recovered from the purchasing Lender) of

41

 

any interest or other amount paid or payable by the purchasing Lender in respect of the total
amount so recovered, without further interest thereon. The Borrowers agree that any Lender so
purchasing a participation from another Lender may, to the fullest extent permitted by law,
exercise all its rights of payment (including the right of set-off, but subject to Section
10.08) with respect to such participation as fully as if such Lender were the direct creditor
of the Borrowers in the amount of such participation. The Administrative Agent will keep records
(which shall be conclusive and binding in the absence of manifest error) of participations
purchased under this Section and will in each case notify the Lenders following any such purchases
or repayments. Each Lender that purchases a participation pursuant to this Section shall from and
after such purchase have the right to give all notices, requests, demands, directions and other
communications under this Credit Agreement with respect to the portion of the Obligations purchased
to the same extent as though the purchasing Lender were the original owner of the Obligations
purchased.

2.11. Evidence of Debt.

     The Loans made by each Lender shall be evidenced by one or more accounts or records maintained
by such Lender and by the Administrative Agent in the ordinary course of business. The accounts or
records maintained by the Administrative Agent and each Lender shall be conclusive absent manifest
error of the amount of the Loans made by the Lenders to the Borrowers and the interest and payments
thereon. Any failure to so record or any error in doing so shall not, however, limit or otherwise
affect the obligation of the Borrowers hereunder to pay any amount owing with respect to the
Obligations. In the event of any conflict between the accounts and records maintained by any
Lender and the accounts and records of the Administrative Agent in respect of such matters, the
accounts and records of the Administrative Agent shall control in the absence of manifest error.
The Borrowers shall execute and deliver to the Administrative Agent a Note for each Lender
requesting a Note, which Note shall evidence such Lender’s Loans in addition to such accounts or
records. Each Lender may attach schedules to its Note and endorse thereon the date, amount and
maturity of its Loans and payments with respect thereto.

2.12. Joint and Several Liability of the Borrowers.

     (a) Each of the Borrowers is accepting joint and several liability hereunder in
consideration of the financial accommodation to be provided by the Lenders under this Credit
Agreement, for the mutual benefit, directly and indirectly, of each of the Borrowers and in
consideration of the undertakings of each of the Borrowers to accept joint and several liability
for the obligations of each of them.

     (b) Each Borrower hereby agrees such Borrower is, and each such Borrower’s successors and
assigns are, jointly and severally liable for, and hereby absolutely and unconditionally guarantees
to Administrative Agent and Lenders and their respective successors and assigns, the full and
prompt payment (whether at stated maturity, by acceleration or otherwise) and performance of, all
of the Obligations arising under this Credit Agreement and the other Credit Documents, it being the
intention of the parties hereto that all the Obligations shall be the joint and several obligations
of each of the Borrowers without preferences or distinction among them. Each Borrower agrees that
its guaranty obligation hereunder is a

42

 

continuing guaranty of payment and performance and not of collection, that its obligations
under this Section 2.12 shall not be discharged until payment and performance, in full, of
the Obligations has occurred, and that its obligations under this Section 2.12 shall be
absolute and unconditional.

     (c) If and to the extent that any of the Borrowers shall fail to make any payment with
respect to any of the Obligations hereunder as and when due or to perform any of such Obligations
in accordance with the terms thereof, then in each such event, the other Borrowers will make such
payment with respect to, or perform, such Obligation.

     (d) The guaranty obligations of each Borrower under the provisions of this Section
2.12 constitute full recourse obligations of such Borrower, enforceable against it to the full
extent of its properties and assets, irrespective of the validity, regularity or enforceability of
this Credit Agreement or any other circumstances whatsoever, including without limitation, the
following:

     (i) the genuineness, validity, regularity, enforceability or any future amendment
of, or change in, this Credit Agreement, any other Credit Document or any other agreement,
document or instrument to which any other Borrower is or may become a party;

     (ii) the absence of any action to enforce this Credit Agreement (including this
Section 2.12) or any other Credit Document or the waiver or consent by
Administrative Agent and Lenders with respect to any of the provisions thereof;

     (iii) the existence, value or condition of, or failure to perfect any Lien or any
security for the Obligations or any action, or the absence of any action, by Administrative
Agent and Lenders in respect thereof (including the release of any such security);

     (iv) the insolvency of any other Borrower;

     (v) the institution of any proceeding under the Federal Bankruptcy Code, or any
similar proceeding, by or against a Borrower or Administrative Agent’s election in any such
proceeding of the application of Section 1111(b)(2) of the Federal Bankruptcy Code;

     (vi) any borrowing or grant of a security interest by any Borrower as
debtor-in-possession, under Section 364 of the Federal Bankruptcy Code;

     (vii) the disallowance, under Section 502 of the Federal Bankruptcy Code, of all or
any portion of Administrative Agent’s claim(s) for repayment of any of the Obligations; or

     (viii) any other action or circumstances that might otherwise constitute a legal or
equitable discharge or defense of a surety or guarantor other than the payment and
performance, in full, of the Obligations.

43

 

Each Borrower shall be regarded, and shall be in the same position, as principal debtor with
respect to the Obligations guaranteed hereunder.

     (e) Except as otherwise expressly provided herein, each Borrower hereby waives notice of
acceptance of its joint and several liability, notice of occurrence of any Default or Event of
Default (except to the extent notice is expressly required to be given pursuant to the terms of
this Credit Agreement), or of any demand for any payment under this Credit Agreement (except to the
extent demand is expressly required to be given pursuant to the terms of this Credit Agreement),
notice of any action at any time taken or omitted by the Administrative Agent or any Lender under
or in respect of any of the Obligations hereunder, except as expressly provided herein, any
requirement of diligence and, generally, all demands, notices and other formalities of every kind
in connection with this Credit Agreement, except as expressly provided herein. Each Borrower
hereby assents to, and waives notice of, any extension or postponement of the time for the payment
of any of the Obligations hereunder, the acceptance of any partial payment thereon, any waiver,
consent or other action or acquiescence by the Lenders at any time or times in respect of any
default by any Borrower in the performance or satisfaction of any term, covenant, condition or
provision of this Credit Agreement, any and all other indulgences whatsoever by the Lenders in
respect of any of the Obligations hereunder, and the taking, addition, substitution or release, in
whole or in part, at any time or times, of any security for any of such Obligations or the
addition, substitution or release, in whole or in part, of any Borrower. Without limiting the
generality of the foregoing, each Borrower assents to any other action or delay in acting or any
failure to act on the part of the Lender, including, without limitation, any failure strictly or
diligently to assert any right or to pursue any remedy or to comply fully with applicable laws or
regulations thereunder which might, but for the provisions of this Section 2.12, afford
grounds for terminating, discharging or relieving such Borrower, in whole or in part, from any of
its obligations under this Section 2.12, it being the intention of each Borrower that, so
long as any of the Obligations hereunder remain unsatisfied, the obligations of such Borrower under
this Section 2.12 shall not be discharged except by performance and then only to the extent
of such performance. The obligations of each Borrower under this Section 2.12 shall not be
diminished or rendered unenforceable by any winding up, reorganization, arrangement, liquidation,
reconstruction or similar proceeding with respect to any Borrower or any Lender. The joint and
several liability of the Borrowers hereunder shall continue in full force and effect
notwithstanding any absorption, merger, amalgamation or any other change whatsoever in the name,
membership, constitution or place of formation of any Borrower or any Lender.

     (f) Notwithstanding anything to the contrary in this Agreement or in any other Credit
Document, and except as set forth in Section 2.12(j) with respect to any obligations to
another Borrower, each Borrower hereby expressly and irrevocably subordinates to payment of the
Obligations any and all rights at law or in equity to subrogation, reimbursement, exoneration,
contribution, indemnification or set off and any and all defenses available to a surety, guarantor
or accommodation co-obligor until the Obligations are indefeasibly paid in full in cash. Each
Borrower acknowledges and agrees that this subordination is intended to benefit Administrative
Agent and Lenders and shall not limit or otherwise affect such Borrower’s liability hereunder or
the enforceability of this Section 2.12, and that Administrative Agent, Lenders and their
respective successors and assigns are intended third party beneficiaries of the waivers and
agreements set forth in this Section 2.12.

44

 

     (g) If Administrative Agent or any Lender may, under applicable Law, proceed to realize
its benefits under any of the Credit Documents giving Administrative Agent or such Lender a Lien
upon any Collateral, whether owned by any Borrower or by any other Person,
either by judicial foreclosure or by non-judicial sale or enforcement, Administrative Agent or
any Lender may, at its sole option, determine which of its remedies or rights it may pursue without
affecting any of its rights and remedies under this Section 2.12. If, in the exercise of
any of its rights and remedies, Administrative Agent or any Lender shall forfeit any of its rights
or remedies, including its right to enter a deficiency judgment against any Borrower or any other
Person, whether because of any applicable Laws pertaining to “election of remedies” or the like,
each Borrower hereby consents to such action by Administrative Agent or such Lender and waives any
claim based upon such action, even if such action by Administrative Agent or such Lender shall
result in a full or partial loss of any rights of subrogation that each Borrower might otherwise
have had but for such action by Administrative Agent or such Lender. Any election of remedies that
results in the denial or impairment of the right of Administrative Agent or any Lender to seek a
deficiency judgment against any Borrower shall not impair any other Borrower’s obligation to pay
the full amount of the Obligations. In the event Administrative Agent or any Lender shall bid at
any foreclosure or trustee’s sale or at any private sale permitted by law or the Credit Documents,
Administrative Agent or such Lender may bid all or less than the amount of the Obligations and the
amount of such bid need not be paid by Administrative Agent or such Lender but shall be credited
against the Obligations.

     (h) The provisions of this Section 2.12 are made for the benefit of the
Administrative Agent, the Lenders and their respective successors and assigns, and may be enforced
by any such Person from time to time against any of the Borrowers as often as occasion therefor may
arise and without requirement on the part of any Lender first to marshal any of its claims or to
exercise any of its rights against any of the other Borrowers or to exhaust any remedies available
to it against any of the other Borrowers or to resort to any other source or means of obtaining
payment of any of the Obligations or to elect any other remedy. The provisions of this Section
2.12 shall remain in effect until all the Obligations hereunder shall have been paid in full or
otherwise fully satisfied. If at any time, any payment, or any part thereof, made in respect of
any of the Obligations, is rescinded or must otherwise be restored or returned by the Lenders upon
the insolvency, bankruptcy or reorganization of any of the Borrowers, or otherwise, the provisions
of this Section 2.12 will forthwith be reinstated and in effect as though such payment had
not been made.

     (i) Each Borrower’s liability under this Section 2.12 shall be limited to an
amount not to exceed as of any date of determination the greater of the following:

     (i) the amount of the Loan allocated to each Borrower as set forth on Schedule
2.12 hereto (the “Allocable Amount”); and

     (ii) the amount that could be claimed by Administrative Agent and any Lender from
such Borrower under this Section 2.12 without rendering such claim voidable or
avoidable under Section 548 of Chapter 11 of the Bankruptcy Code or under any applicable
state Uniform Fraudulent Transfer Act, Uniform Fraudulent Conveyance Act or similar statute
or common law after taking into account, among other things, such

45

 

Borrower’s right of
contribution and indemnification from each other Borrower under Section 2.12(j)
below.

     (j) Contribution with Respect to Guaranty Obligations.

     (i) To the extent that any Borrower (the “Overpaying Borrower”) incurs (i) any
payment in excess of its Allocable Amount, or (ii) a loss of its Collateral due to the
foreclosure (or other realization by lenders) of, or the delivery of deeds in lieu of
foreclosure relating to it Collateral, and the value of such Collateral exceeded its
Allocable Share (the “Overpayment Amount”), then such Overpaying Borrower shall be entitled,
after indefeasible payment in full and the satisfaction of all Obligations to Lenders under
the Credit Agreement, to contribution from each of the benefited Borrowers, on a pro rata
basis, for the amounts so paid, advanced or benefited, in an amount equal to the difference
between the Overpayment Amount and such benefited Borrower’s then current Allocable Amount.
Any such contribution payments shall be made within ten (10) Business Days after demand
therefor.

     (ii) This Section 2.12(j) is intended only to define the relative rights of
Borrowers and nothing set forth in this Section 2.12(j) is intended to or shall
impair the obligations of Borrowers, jointly and severally, to pay any amounts as and when
the same shall become due and payable in accordance with the terms of this Agreement,
including Section 2.12(a) above. Nothing contained in this Section 2.12(j)
shall limit the liability of any Borrower to pay all or any part of the Loan made directly
or indirectly to that Borrower and accrued interest, fees and expenses with respect thereto
for which such Borrower shall be primarily liable.

     (iii) The parties hereto acknowledge that the rights of contribution and
indemnification hereunder shall constitute assets of the Borrower to which such contribution
and indemnification is owing.

     (iv) The rights of the indemnifying Borrowers against other Borrowers under this
Section 2.12(j) shall be exercisable only upon the full and indefeasible payment of
the Obligations.

     (k) The liability of Borrowers under this Section 2.12 is in addition to and shall
be cumulative with all liabilities of each Borrower to Agent and Lender under this Agreement and
the other Credit Documents to which such Borrower is a party or in respect of any Obligations or
obligation of the other Borrower, without any limitation as to amount, unless the instrument or
agreement evidencing or creating such other liability specifically provides to the contrary.

2.13. Appointment of Parent Borrower as Legal Representative for Credit Parties.

     Each of the Credit Parties hereby appoints the Parent Borrower to act as its exclusive legal
representative for all purposes under this Credit Agreement and the other Credit Documents
(including, without limitation, with respect to all matters related to Borrowings and the repayment
of Loans as described in Article II and Article III hereof) (in such capacity, the
“Borrower Representative”). Each of the Credit Parties acknowledges and agrees that (a) the
Borrower Representative may execute such documents on behalf of all the Credit Parties as
the

46

 

Borrower Representative deems appropriate in its reasonable discretion and each Credit Party shall
be bound by and obligated by all of the terms of any such document executed by the
Borrower Representative on its behalf, (b) any notice or other communication delivered by the
Administrative Agent or any Lender hereunder to the Borrower Representative shall be deemed to have
been delivered to each of the Credit Parties and (c) the Administrative Agent and each of the
Lenders shall accept (and shall be permitted to rely on) any document or agreement executed by the
Borrower Representative on behalf of the Credit Parties (or any of them). The Borrowers must act
through the Borrower Representative for all purposes under this Credit Agreement and the other
Credit Documents. Notwithstanding anything contained herein to the contrary, to the extent any
provision in this Credit Agreement requires any Credit Party to interact in any manner with the
Administrative Agent or the Lenders, such Credit Party shall do so through the Borrower
Representative.

2.14. Defaulting Lenders.

     (a) Adjustments. Notwithstanding anything to the contrary contained in this
Agreement, if any Lender becomes a Defaulting Lender, then, until such time as that Lender is no
longer a Defaulting Lender, to the extent permitted by applicable Law:

     (i) Waivers and Amendments. That Defaulting Lender’s right to approve or
disapprove any amendment, waiver or consent with respect to this Agreement shall be
restricted as set forth in Section 10.01.

     (ii) Reallocation of Payments. Any payment of principal, interest, fees or
other amounts received by the Administrative Agent for the account of that Defaulting Lender
(whether voluntary or mandatory, at maturity, pursuant to Article VIII or otherwise,
and including any amounts made available to the Administrative Agent by that Defaulting
Lender pursuant to Section 10.06), shall be applied at such time or times as may be
determined by the Administrative Agent as follows; provided that this
section shall only be deemed to apply to a Defaulting Lender that has achieved such status
solely as a result of the failure to fund its obligations hereunder and not for any other
reason: first, to the payment of any amounts owing by that Defaulting Lender to the
Administrative Agent hereunder; second, as the Borrower Representative may request (so long
as no Default or Event of Default exists), to the funding of any Loan in respect of which
that Defaulting Lender has failed to fund its portion thereof as required by this Agreement,
as determined by the Administrative Agent; third, to the payment of any amounts owing to the
Lenders, as a result of any judgment of a court of competent jurisdiction obtained by any
Lender against that Defaulting Lender as a result of that Defaulting Lender’s breach of its
obligations under this Agreement; and fourth, to that Defaulting Lender or as otherwise
directed by a court of competent jurisdiction. Any payments, prepayments or other amounts
paid or payable to a Defaulting Lender that are applied (or held) to pay amounts owed by a
Defaulting Lender shall be deemed paid to and redirected by that Defaulting Lender, and each
Lender irrevocably consents hereto.

     (b) Defaulting Lender Cure. Upon cure by a Defaulting Lender of the circumstances
by which it became a Defaulting Lender, the Administrative Agent will so notify the parties hereto,
whereupon that Lender will, to the extent applicable, purchase that portion of outstanding

47

 

Advances
of the other Lenders or take such other actions as the Administrative Agent may determine to be
necessary to cause the Advances (in the aggregate) to be held on a pro rata basis
by the Lenders in accordance with their applicable Commitment Percentages; provided
that no adjustments will be made retroactively with respect to fees accrued or payments made by or
on behalf of the Borrowers while that Lender was a Defaulting Lender; and provided,
further, that except to the extent otherwise expressly agreed by the affected parties, no
change hereunder from Defaulting Lender to Lender will constitute a waiver or release of any claim
of any party hereunder arising from that Lender’s having been a Defaulting Lender.

2.15. Extension of Maturity Date.

     Subject to, and upon the Borrowers’ satisfaction of, the conditions set forth in this
Section 2.15 and the other provisions of this Agreement (such date the “Extension Effective
Date”), Administrative Agent shall extend the Maturity Date of this Agreement by an additional year
(each a “Maturity Date Extension”), with no more than two (2) such Maturity Date Extensions
occurring during the term of this Agreement, subject to the following conditions for each such
Maturity Date Extension:

     (a) No Default shall have occurred and be continuing under any of the Credit Documents on
the Extension Effective Date;

     (b) The Borrowers shall have on or before the Extension Effective Date delivered to the
Administrative Agent for the ratable benefit of the Lenders a fee equal to one-quarter percent
(0.25%) of the outstanding balance of the Loan, which fee shall be non-refundable and shall be
deemed fully earned upon receipt;

     (c) If not previously authorized by resolutions satisfactory to the Administrative Agent,
the Borrowers shall have delivered to the Administrative Agent true, correct and complete copies of
duly adopted resolutions of each Borrower authorizing each respective Borrower to extend the
Maturity Date;

     (d) The Consolidated Borrower Parties shall have achieved a Debt Service Coverage Ratio
(Borrower Parties) of at least 1.50:1.00 for the most recently completed two (2) fiscal quarter
period ending prior to the Extension Effective Date;

     (e) The Consolidated Borrower Parties shall have achieved a Debt Yield (Borrower Parties)
not less than eighteen percent (18%) for the most recently completed two (2) fiscal quarter period
ending prior to the Extension Effective Date;

     (f) The Borrowers shall have paid Administrative Agent’s reasonable costs and expenses in
connection with the requested Maturity Date Extension; and

     (g) The Borrowers shall give notice of their desire to extend the Maturity Date in the
form of a Request for Extension attached hereto as Exhibit I on or prior to the date that is not
less than sixty (60) days or more than six (6) months prior to the then effective Maturity Date.
Following receipt of a Request for Extension, the Administrative Agent shall promptly notify each
Lender of such request. Upon acceptance by the Administrative Agent of the Request for Extension
evidencing that each of the conditions set forth in this Section 2.15 have been

48

 

satisfied,
the Extension Effective Date shall occur and the Maturity Date Extension shall be effective.

ARTICLE III

TAXES, YIELD PROTECTION AND ILLEGALITY

3.01. Taxes.

     (a) Payments Free of Taxes. Any and all payments by or on account of any
obligation of the Credit Parties hereunder or under any other Credit Document shall be made free
and clear of and without reduction or withholding for any Indemnified Taxes or Other Taxes,
provided that if any Credit Party shall be required by applicable law to deduct any
Indemnified Taxes (including any Other Taxes) from such payments, then (i) the sum payable shall be
increased as necessary so that after making all required deductions (including deductions
applicable to additional sums payable under this Section) the Administrative Agent or any Lender,
as the case may be, receives an amount equal to the sum it would have received had no such
deductions been made, (ii) such Credit Party shall make such deductions and (iii) such Credit Party
shall timely pay the full amount deducted to the relevant Governmental Authority in accordance with
applicable law.

     (b) Payment of Other Taxes by the Credit Parties. Without limiting the provisions
of subsection (a) above, the Credit Parties shall timely pay any Other Taxes to the relevant
Governmental Authority in accordance with applicable law.

     (c) Indemnification by the Credit Parties. The Credit Parties shall indemnify the
Administrative Agent and each Lender, within 10 days after demand therefor, for the full amount of
any Indemnified Taxes or Other Taxes (including Indemnified Taxes or Other Taxes imposed or
asserted on or attributable to amounts payable under this Section) paid by the Administrative Agent
or such Lender, as the case may be, and any penalties, interest and reasonable expenses arising
therefrom or with respect thereto, except for any interest, penalties, or expenses caused by the
failure of the Administrative Agent or a Lender, as the case may be, to pay any such Indemnified
Taxes or Other Taxes when due. A reasonably detailed certificate as to the amount of such payment
or liability delivered to any Borrower by a Lender (with a copy to the Administrative Agent), or by
the Administrative Agent on its own behalf or on behalf of a Lender, shall be conclusive absent
manifest error. Notwithstanding anything herein to the contrary, the Administrative Agent and the
Lenders shall not be indemnified for any Indemnified Taxes or Other Taxes hereunder unless such
Administrative Agent or Lender shall make written demand on the Borrowers for such reimbursement no
later than 180 days after the earlier of (i) the date on which the relevant Governmental Authority
makes written demand upon the Administrative Agent or Lender for payment of such Indemnified Taxes
or Other Taxes, and (ii) the date on which such Administrative Agent or Lender has made payment of
such Indemnified Taxes or Other Taxes; provided that if the Indemnified Taxes or Other Taxes
imposed or asserted giving rise to such claims are retroactive, then the 180-day period referred to
above shall be extended to include the period of retroactive effect thereof.

     (d) Evidence of Payments. As soon as practicable after any payment of Indemnified
Taxes or Other Taxes by any Credit Party to a Governmental Authority, the Borrower

49

 

Representative
shall deliver to the Administrative Agent the original or a certified copy of a receipt issued by
such Governmental Authority evidencing such payment, a copy of the return
reporting such payment or other evidence of such payment reasonably satisfactory to the
Administrative Agent.

     (e) Status of Lenders. (i) Each Lender shall deliver to the Borrower
Representative and to the Administrative Agent, at the time or times prescribed by applicable laws
or when reasonably requested by the Borrower Representative or the Administrative Agent, such
properly completed and executed documentation prescribed by applicable Laws or by the taxing
authorities of any jurisdiction and such other reasonably requested information as will permit the
Borrower Representative or the Administrative Agent, as the case may be, to determine (A) whether
or not payments made hereunder or under any other Credit Document are subject to Taxes, (B) if
applicable, the required rate of withholding or deduction, and (C) such Lender’s entitlement to any
available exemption from, or reduction of, applicable Taxes in respect of all payments to be made
to such Lender by the Borrowers pursuant to this Agreement or otherwise to establish such Lender’s
status for withholding tax purposes in the applicable jurisdiction.

     (ii) Without limiting the generality of the foregoing, if such Borrower is resident
for tax purposes in the United States,

     (A) any Lender that is a “United States person” within the meaning of
Section 7701(a)(30) of the Internal Revenue Code shall deliver to the Borrower
Representative and the Administrative Agent executed originals of Internal Revenue
Service Form W-9 or such other documentation or information prescribed by applicable
laws or reasonably requested by the Borrower Representative or the Administrative
Agent as will enable the Borrower Representative or the Administrative Agent, as the
case may be, to determine that such Lender is not subject to backup withholding or
information reporting requirements; and

     (B) each Foreign Lender that is entitled under the Internal Revenue Code or
any applicable treaty to an exemption from or reduction of withholding tax with
respect to payments hereunder or under any other Credit Document shall deliver to
the Borrower Representative and the Administrative Agent (in such number of copies
as shall be requested by the recipient) on or prior to the date on which such
Foreign Lender becomes a Lender under this Agreement (and from time to time
thereafter upon the request of the Borrower Representative or the Administrative
Agent, but only if such Foreign Lender is legally entitled to do so), whichever of
the following is applicable:

     (I) executed originals of Internal Revenue Service Form W-8BEN
claiming eligibility for benefits of an income tax treaty to which the
United States is a party,

     (II) executed originals of Internal Revenue Service Form W-8ECI,

50

 

     (III) executed originals of Internal Revenue Service Form W-8IMY
and all required supporting documentation,

     (IV) in the case of a Foreign Lender claiming the benefits of the
exemption for portfolio interest under section 881(c) of the Internal
Revenue Code, (x) a certificate to the effect that such Foreign Lender is
not (A) a “bank” within the meaning of section 881(c)(3)(A) of the Internal
Revenue Code, (B) a “10 percent shareholder” of the Borrower within the
meaning of section 881(c)(3)(B) of the Internal Revenue Code, or (C) a
“controlled foreign corporation” described in section 881(c)(3)(C) of the
Internal Revenue Code and (y) duly completed copies of Internal Revenue
Service Form W-8BEN, or

     (V) executed originals of any other form prescribed by applicable
laws as a basis for claiming exemption from or a reduction in United States
Federal withholding tax duly completed together with such supplementary
documentation as may be prescribed by applicable law to permit such Borrower
or the Administrative Agent to determine the withholding or deduction
required to be made.

     (iii) Each Lender shall promptly (A) notify the Borrower Representative and the
Administrative Agent of any change in circumstances which would modify or render invalid any
claimed exemption or reduction, and (B) take such steps as shall not be materially
disadvantageous to it, in the reasonable judgment of such Lender, and as may be reasonably
necessary (including the re-designation of its Lending Office) to avoid any requirement of
applicable Laws of any jurisdiction that the Borrower or the Administrative Agent make any
withholding or deduction for taxes from amounts payable to such Lender.

     (f) Refunds of Indemnified Taxes or Other Taxes. If the Administrative Agent or a
Lender determines, in its reasonable discretion, that it has received a refund or credit of any
Indemnified Taxes or Other Taxes as to which it has been indemnified by the Borrowers or with
respect to which the Borrowers have paid additional amounts pursuant to this Section 3.01,
it shall pay over such refund or credit to the Borrower (but only to the extent of indemnity
payments made, or additional amounts paid, by the Borrowers under this Section 3.01 with
respect to the Indemnified Taxes or Other Taxes giving rise to such refund or credit), net of all
reasonable out-of-pocket expenses of the Administrative Agent or such Lender, as the case may be,
and without interest (other than any interest paid by the relevant Governmental Authority with
respect to such refund or credit); provided, that the Borrower, upon the request of the
Administrative Agent or such Lender, as the case may be, agrees to repay the amount paid over to
the Borrower (plus any penalties, interest or other charges imposed by the relevant Governmental
Authority) to the Administrative Agent or such Lender, as the case may be, in the event it is
required to repay such refund or credit to such Governmental Authority. This Section shall not be
construed to require the Administrative Agent or any Lender to make available its tax returns (or
any other information relating to its Taxes which it deems confidential) to the Borrower.

51

 

3.02. Illegality.

     If any Lender determines that any Law has made it unlawful, or that any Governmental Authority
has asserted that it is unlawful, for any Lender or its applicable Lending Office to make, maintain
or fund its Extension of Credit using the Eurodollar Rate, or to determine or charge interest rates
based upon the Eurodollar Rate, then, on notice thereof by such Lender to the Borrowers through the
Administrative Agent, any obligation of such Lender to continue its Extension of Credit or make
Advances at the Eurodollar Rate shall be suspended until such Lender notifies the Administrative
Agent and the Borrowers that the circumstances giving rise to such determination no longer exist.
Upon receipt of such notice, the Borrowers shall either (a) agree to substitute the Base Rate for
the Eurodollar Base Rate on the outstanding Extension of Credit or (b) upon demand from such Lender
(with a copy to the Administrative Agent), prepay such Lender’s Extension of Credit on the last day
of the Interest Period therefor, if such Lender may lawfully continue to maintain its Extension of
Credit to such day, or immediately, if such Lender may not lawfully continue to maintain its
Extension of Credit. Upon any such prepayment or substitution of the Base Rate, the Borrowers
shall also pay accrued interest on the amount so prepaid or converted. Each Lender agrees to
designate a different Lending Office if such designation will avoid the need for such notice and
will not, in the good faith judgment of such Lender, otherwise be materially disadvantageous to
such Lender.

3.03. Inability to Determine Rates.

     If the Required Lenders determine that for any reason adequate and reasonable means do not
exist for determining the Eurodollar Rate with respect to a proposed Advance under the Loan, or
that the Eurodollar Rate for any requested proposed Advance does not adequately and fairly reflect
the cost to such Lenders of funding such Advance, the Administrative Agent will promptly so notify
the Parent Borrower and each Lender. Thereafter, the obligation of the Lenders to make further
Advances or maintain the Extensions of Credit using the Eurodollar Rate shall be suspended until
the Administrative Agent (upon the instruction of the Required Lenders) revokes such notice. Upon
receipt of such notice, the Borrowers may revoke any pending request for a Borrowing at the
Eurodollar Rate or may substitute a request for a Borrowing using the Base Rate.

3.04. Increased Cost and Reduced Return; Capital Adequacy; Reserves.

     (a) If any Lender determines that as a result of the introduction of or any change in or
in the interpretation of any Law, or such Lender’s compliance therewith, there shall be any
increase in the cost to such Lender of agreeing to make or making, funding or maintaining the
Loans, or a reduction in the amount received or receivable by such Lender in connection with any of
the foregoing (excluding for purposes of this subsection (a) any such increased costs or reduction
in amount resulting from (i) Taxes (as to which Section 3.01 shall govern) and (ii) reserve
requirements contemplated by Section 3.04(c)), then from time to time upon demand of such
Lender (with a copy of such demand to the Administrative Agent), the Borrowers shall pay to such
Lender such additional amounts as will compensate such Lender for such increased cost or reduction.

52

 

     (b) If any Lender determines that the introduction of any Law regarding capital adequacy
or any change therein or in the interpretation thereof, or compliance by such Lender (or its
Lending Office) therewith, has the effect of reducing the rate of return on the capital of such
Lender or any corporation controlling such Lender as a consequence of such Lender’s obligations
hereunder (taking into consideration its policies with respect to capital adequacy and such
Lender’s desired return on capital), then from time to time upon demand of such Lender (with a copy
of such demand to the Administrative Agent), the Borrowers shall pay to such Lender such additional
amounts as will compensate such Lender for such reduction. The Borrowers shall not be required to
pay such additional amounts unless such amounts are the result of requirements imposed generally on
lenders similar to such Lenders and not the result of some specific reserve or similar requirement
imposed on such Lender as a result of such Lender’s special circumstances.

     (c) The Borrowers shall pay to each Lender, as long as such Lender shall be required to
maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency
funds or deposits (currently known as “Eurocurrency liabilities”), additional interest on the
unpaid principal amount of the Advances made by such Lender under the Loan equal to the actual
costs of such reserves allocated to such portion of the Loan by such Lender (as determined by such
Lender in good faith, which determination shall be conclusive), which shall be due and payable on
each date on which interest is payable on the Loan, provided the Borrowers shall have received at
least fifteen (15) days’ prior written notice (with a copy to the Administrative Agent) of such
additional interest from such Lender. If a Lender fails to give notice fifteen (15) days prior to
the relevant Payment Date, such additional interest shall be due and payable fifteen (15) days from
receipt of such notice.

     (d) The Borrowers shall not be required to compensate any Lender pursuant to this Section
for any increased costs or reductions incurred more than 180 days prior to the date that such
Lender notifies the Borrowers of the introduction of or change in or in the interpretation of Law
giving rise to such increased costs or reductions and of such Lender’s intention to claim
compensation therefor; provided that, if the introduction of or change in or in the
interpretation of Law giving rise to such increased costs or reductions is retroactive, then the
180-day period referred to above shall be extended to include the period of retroactive effect
thereof.

3.05. Funding Losses.

     Upon demand of any Lender (with a copy to the Administrative Agent) from time to time, the
Borrowers shall promptly compensate such Lender for and hold such Lender harmless from any loss,
cost or expense incurred by it as a result of:

     (a) any payment or prepayment of all or any portion of the Loan on a day other than the
last day of the Interest Period for the Loan or portion thereof (whether voluntary, mandatory,
automatic, by reason of acceleration, or otherwise);

     (b) any failure by the Borrowers (for a reason other than the failure of such Lender to
make an Advance) to prepay or borrow any Advance on the date or in the amount notified by the
Borrowers; or

53

 

     (c) any assignment of any portion of the Loan on a day other than the last day of the
Interest Period therefor as a result of a request by the Borrowers pursuant to Section
10.13;

including any loss of anticipated profits and any loss or expense arising from the liquidation or
reemployment of funds obtained by it to maintain the Loan or portion thereof or from fees payable
to terminate the deposits from which such funds were obtained. The Borrowers shall also pay any
customary administrative fees charged by such Lender in connection with the foregoing.

     For purposes of calculating amounts payable by the Borrowers to the Lenders under this
Section 3.05, each Lender shall be deemed to have funded each Advance made by it at the
Eurodollar Base Rate used in determining the Eurodollar Rate for such Advance by a matching deposit
or other borrowing in the London interbank eurodollar market for a comparable amount and for a
comparable period, whether or not such Advance was in fact so funded.

3.06. Matters Applicable to all Requests for Compensation.

     (a) A certificate of the Administrative Agent or any Lender claiming compensation under
this Article III and setting forth the additional amount or amounts to be paid to it hereunder
shall be conclusive in the absence of manifest error. In determining such amount, the
Administrative Agent or such Lender may use any reasonable averaging and attribution methods.

     (b) Upon any Lender’s making a claim for compensation under Section 3.01 or
3.04, the Borrowers may replace such Lender in accordance with Section 10.13.

     Each Lender shall promptly notify the Borrower Representative and the Administrative Agent of
any event of which it has knowledge which will result in obligations of Borrower to pay any amounts
pursuant to Article III, and will use reasonable commercial efforts available to it (and not, in
such Lender’s reasonable judgment, otherwise disadvantageous to such Lender) to mitigate or avoid
any such obligations by the Borrowers.

3.07. Survival.

     All of the Borrowers’ obligations under this Article III shall survive termination of the
Aggregate Commitments and repayment of all other Obligations hereunder.

ARTICLE IV

CONDITIONS PRECEDENT TO ADVANCES

     The obligation of each Lender to make Advances hereunder is subject to satisfaction of the
following conditions precedent:

4.01. Conditions to Initial Advance.

     The obligation of the Lenders to make the initial Advance hereunder is subject to the
satisfaction of such of the following conditions in all material respects on or prior to the
Closing Date as shall not have been expressly waived in writing by the Administrative Agent.

54

 

     (a) Credit Documents, Organization Documents, Etc. The Administrative Agent’s
receipt of the following, each of which shall be originals or facsimiles (followed promptly by
originals) unless otherwise specified, each properly executed by a Responsible Officer, each dated
the Closing Date (or, in the case of certificates of governmental officials, a recent date before
the Closing Date) and each in form and substance satisfactory to the Administrative Agent and its
legal counsel:

     (i) executed counterparts of this Credit Agreement and the other Credit Documents;

     (ii) a Note executed by the Borrowers in favor of each Lender requesting a Note;

     (iii) copies of the Organization Documents of each Borrower certified to be true
and complete as of a recent date by the appropriate Governmental Authority of the state or
other jurisdiction of its incorporation or organization, where applicable, and certified by
a Responsible Officer to be true and correct as of the Closing Date;

     (iv) such certificates of resolutions or other action, incumbency certificates
and/or other certificates of Responsible Officers of each Credit Party as the Administrative
Agent may require evidencing the identity, authority and capacity of each Responsible
Officer thereof authorized to act as a Responsible Officer in connection with this Credit
Agreement and the other Credit Documents to which such Credit Party is a party; and

     (v) such documents and certifications as the Administrative Agent may reasonably
require to evidence that the Borrowers are duly organized or formed, and are validly
existing, in good standing and qualified to engage in business in (A) the jurisdiction of
their incorporation or organization and (B) each jurisdiction where their ownership, lease
or operation of properties or the conduct of their business requires such qualification.

     (b) Opinions of Counsel. The Administrative Agent shall have received, in each
case dated as of the Closing Date and in form and substance reasonably satisfactory to the
Administrative Agent:

     (i) a legal opinion of counsel for the Credit Parties addressed to the
Administrative Agent and the Lenders;

     (ii) a legal opinion of special local counsel for the Borrowers for the states in
which each Real Property Asset is located and for any other state in which any Credit Party
is organized, in each case addressed to the Administrative Agent, its counsel and the
Lenders.

     (c) Personal Property Collateral. The Administrative Agent shall have received
(in each case in form and substance reasonably satisfactory to the Administrative Agent):

55

 

     (i) searches of Uniform Commercial Code filings in the state of organization of
each Borrower or where a filing would need to be made in order to perfect the Administrative
Agent’s security interest in the tangible personal property Collateral for the benefit of
the Lenders, copies of the financing statements on file in such jurisdictions and evidence
that no Liens exist other than Permitted Liens;

     (ii) UCC financing statements for each appropriate jurisdiction as is necessary, in
the Administrative Agent’s sole discretion, to perfect the Administrative Agent’s security
interest in the Collateral for the benefit of the Lenders;

     (iii) duly executed notices of grant of security interest as are necessary, in the
Administrative Agent’s sole discretion, to perfect the Administrative Agent’s security
interest in the Collateral for the benefit of the Lenders;

     (iv) all instruments and chattel paper in the possession of any of the Borrowers,
together with allonges or assignments as may be necessary or appropriate to perfect the
Administrative Agent’s security interest in the Collateral for the benefit of the Lenders;

     (v) duly executed consents as are necessary, in the Administrative Agent’s sole
discretion, to perfect the Administrative Agent’s security interest in the Collateral for
the benefit of the Lenders;

     (vi) in the case of any tangible personal property Collateral located at a premises
leased by a Borrower, such estoppel letters, consents and waivers from the landlords on such
real property as may be required by the Administrative Agent; and

     (vii) a copy of each Material Contract.

     (d) Real Property Collateral (Real Property Assets). The Administrative Agent
shall have received, in form and substance reasonably satisfactory to the Administrative Agent,
each of the Real Property Asset Deliverables with respect to each Real Property Asset set forth on
Schedule 5.12 attached hereto.

     (e) Property and Liability Insurance. The Administrative Agent shall have
received copies of all insurance policies or certificates thereof held by (or for the benefit of)
the Borrowers and Eligible Tenants with respect to the Real Property Assets of the Borrowers, each
such policy shall name the Administrative Agent (on behalf of the Lenders) as an additional insured
or sole loss payee under a standard mortgagee endorsement, as applicable and each provider of any
such insurance shall agree, by endorsement upon the policy or policies issued by it or by
independent instruments furnished to the Administrative Agent, that it will give the Administrative
Agent thirty (30) days prior written notice before any such policy or policies shall be canceled.

     (f) Officer’s Certificates. The Administrative Agent shall have received a
certificate or certificates executed by a Responsible Officer as of the Closing Date, in a form
satisfactory to the Administrative Agent, stating that (i) each Borrower is in compliance with all
existing financial obligations (whether pursuant to the terms and conditions of this Credit
Agreement or

56

 

otherwise) and the Consolidated Aviv Parties are in compliance with the financial
covenants set
forth in Sections 6.11(c) and (d) of this Agreement except when the failure in
either such instance to so comply would not reasonably be expected to have a Material Adverse
Effect, (ii) all governmental, shareholder and third party consents and approvals, if any, with
respect to the Credit Documents and the transactions contemplated thereby have been obtained, (iii)
no action, suit, investigation or proceeding is pending or threatened in any court or before any
arbitrator or governmental instrumentality that purports to affect any Consolidated Borrower Party
or any transaction contemplated by the Credit Documents, if such action, suit, investigation or
proceeding could reasonably be expected to have a Material Adverse Effect, (iv) immediately prior
to and following the transactions contemplated herein, the Credit Parties taken as a whole shall be
Solvent, and (v) immediately after the execution of this Credit Agreement and the other Credit
Documents, (A) no Default or Event of Default exists and (B) all representations and warranties
contained herein and in the other Credit Documents are true and correct in all material respects.

     (g) Financial Statements. Receipt by the Administrative Agent and the Lenders of
(i) Audited Financial Statements and (ii) unaudited financial statements of the Consolidated
Borrower Parties for the fiscal quarter ended March 31, 2010.

     (h) Opening Compliance Certificate. Receipt by the Administrative Agent of a
Compliance Certificate as of the Closing Date signed by a Responsible Officer and including (i) pro
forma calculations for the latest fiscal quarter based on the amounts set forth in the unaudited
financial statements and taking into account any Advances made or requested hereunder as of such
date and (ii) pro forma calculations of all financial covenants contained herein.

     (i) Consents/Approvals. The Credit Parties shall have received all approvals,
consents and waivers, and shall have made or given all necessary filings and notices as shall be
required to consummate the transactions contemplated hereby without the occurrence of any default
under, conflict with or violation of (i) any applicable Law or (ii) any agreement, document or
instrument to which any Credit Party is a party or by which any of them or their respective
properties is bound, except for such approvals, consents, waivers, filings and notices the receipt,
making or giving of which (or, with respect to approvals and consents, the failure to obtain of
which) would not be reasonably likely to have a Material Adverse Effect.

     (j) Material Adverse Change. No material adverse change shall have occurred since
December 31, 2009 in the condition (financial or otherwise), business, assets, operations, or
management of (i) Aviv and its Consolidated Subsidiaries taken as a whole, or (ii) the Borrowers
taken as a whole.

     (k) Litigation. There shall not exist any pending or threatened action, suit,
investigation or proceeding against any Credit Party that could reasonably be expected to have a
Material Adverse Effect or could otherwise materially and adversely effect the transactions set
forth herein or contemplated hereby.

     (l) Financial Calculations. Calculations certified by a Responsible Officer
evidencing that, after giving pro forma effect to the Loans and transactions contemplated herein,
(A) the Debt Service Coverage Ratio (Borrower Parties) is equal to or equal to or greater than 1.50
to

57

 

1.00, (B) the Debt Yield (Borrower Parties) is equal to or equal to or greater than 17.25%, (C)
the Debt Service Coverage Ratio (Aviv Parties) is equal to or equal to or greater than 1.25 to
1.00, (D) the Debt Yield (Aviv Parties) is equal to or equal to or greater than 17.25%, and (E) the
Rental Revenue of the Consolidated Borrower Parties is sufficient to provide a minimum Debt Yield
(Borrower Parties) of 18.5%.

     (m) Equity Investment. Evidence of the acquisition by LG of a direct equity
interest in Aviv in exchange for a direct or indirect investment in Aviv totaling at least
$200,000,000, on terms and conditions reasonably satisfactory to the Administrative Agent, which
investment may include the acquisition by LG of outstanding direct or indirect equity interests in
Aviv from existing holders;

     (n) Fees and Expenses. Payment by the Credit Parties to the Administrative Agent
of all reasonable out-of-pocket fees and expenses relating to the preparation, execution and
delivery of this Credit Agreement and the other Credit Documents which are due and payable on the
Closing Date, including, without limitation, payment to the Administrative Agent of the reasonable
and documented Attorney Costs, consultants’ fees, travel expenses incurred by the Administrative
Agent and all reasonable out-of-pocket fees and expenses associated with the due diligence done in
connection with and the preparation of documentation with respect to the Real Property Assets or
other Collateral incurred by the Administrative Agent.

     (o) Other. Receipt by the Administrative Agent of such other documents,
instruments, agreements or information as reasonably requested by the Administrative Agent,
including, but not limited to, additional legal opinions, contribution agreements, corporate
resolutions, indemnifications, information regarding litigation, tax, accounting, labor, insurance,
pension liabilities (actual or contingent), real estate leases, Material Contracts, debt
agreements, property ownership, property management agreements, corporate organizational structure,
and contingent liabilities of the Credit Parties.

     Without limiting the generality of the provisions of the last paragraph of Section
9.04, for purposes of determining compliance with the conditions specified in this Section
4.01, each Lender that has signed this Agreement shall be deemed to have consented to, approved
or accepted or to be satisfied with, each document or other matter required thereunder to be
consented to or approved by or acceptable or satisfactory to a Lender.

     (p) All of the conditions in Section 4.02 shall have been satisfied.

4.02. Conditions to all Extensions of Credit.

     The obligation of any Lender to make any Advance hereunder is subject to the satisfaction of
such of the following conditions on or prior to the proposed date of the making of such Advance:

     (a) The Administrative Agent shall receive the applicable Loan Borrowing Notice;

     (b) No Default shall have occurred and be continuing immediately before the making of such
Advance and no Default shall exist immediately thereafter;

58

 

     (c) The representations and warranties of the Credit Parties made in or pursuant to the
Credit Documents shall (i) with respect to representations and warranties that contain a
materiality qualification, be true and correct and (ii) with respect to representations and
warranties that do not contain a materiality qualification, be true and correct in all material
respects, in each case on and as of the date of such Advance as if made on and as of such date
except for any representation or warranty made as of an earlier date, which representation and
warranty shall remain true and correct as of such earlier date; and

     (d) Immediately following the making of such Advance the sum of the outstanding principal
balance of the Revolving Obligations shall not exceed the Available Revolving Loan Commitment on
such date.

The making of such Advance under this Section 4.02 shall be deemed to be a representation
and warranty by the Borrowers on the date thereof as to the facts specified in clauses (b), (c),
and (d) of this Section.

4.03. Conditions to Extensions of Credit for Acquisition Projects and Renovation
Projects.

     The obligation of any Lender to make an Advance for any Acquisition Project or Renovation
Project hereunder is subject to the reasonable satisfaction of such of the following conditions, as
applicable, on or prior to the proposed date of the making of such Advance:

     (a) The Administrative Agent shall receive (i) not less than ten (10) Business Days prior
to the date of such requested Advance, a reasonably satisfactory description of the Acquisition
Project or Renovation Project and (ii) the applicable Loan Borrowing Notice and, with respect to
the initial Advance, the conditions set forth in Section 4.02 shall have been met as of the date of
such Advance;

     (b) Immediately following the making of such Advance, the Rental Revenue of the
Consolidated Borrower Parties both before and after giving effect to the Acquisition of such
Acquisition Project on a pro forma basis is sufficient to provide a minimum Debt Yield (Borrower
Parties) of 18%;

     (c) The amount of the Advance shall not exceed (i) for Acquisition Projects, 70% of the
lower of total acquisition costs or appraised value, as applicable, plus reasonable third party
commissions and other third party transaction costs and fees for such Acquisition Project and (ii)
for Renovation Projects, 70% of the total renovation costs plus reasonable third party commissions
and other third party transaction costs and fees for such Renovation Project;

     (d) The Administrative Agent shall receive a copy of the executed Facility Operating
Lease with the Eligible Tenant for such Acquisition Project;

     (e) With respect to an Acquisition Project, the Administrative Agent shall have received,
in form and substance reasonably satisfactory to the Administrative Agent, each of the Real
Property Asset Deliverables with respect to each Real Property Asset being acquired;

59

 

     (f) Immediately following the making of such Advance, the sum of the outstanding principal
balance of the Revolving Obligations shall not exceed the Available Revolving Loan Commitment on
such date; and

     (g) With respect to any Renovation Project:

	 	(1)	 	The amount of the Advance for any Renovation Project shall
not exceed the Available Renovation Commitment on such date; and

	 	(2)	 	The Administrative Agent shall have been provided, on or
before the date the Loan Borrowing Notice is submitted, copies of invoices,
lien waivers, applications for payments, canceled checks, or other evidence of
payment of amounts due and payable by Borrowers in connection with such
Renovation Project;

	 	(3)	 	The Administrative Agent shall have received an endorsement
to the Mortgage Policy insuring (or confirming, as applicable) the priority of
the Mortgage Instrument with respect to such Advance and indicating that no
intervening Liens exist (other than Permitted Liens) against a Real Property
Asset being renovated which have not been insured over with title insurance;
and

	 	(4)	 	Such Advances shall be utilized to pay the actual costs of
the Renovation Project as portions of same are completed and, at Administrative
Agent’s option, Advances shall be made directly to the architect, contractor,
supplier or other third party.

The making of such Advance under this Section 4.03 shall be deemed to be a representation
and warranty by the Borrowers on the date thereof as to the facts specified in clause (c) of
Section 4.03 for an Advance for a Renovation Project and clauses (b), (c), and (d) of this
Section 4.03 for an Advance for an Acquisition Project.

ARTICLE V

REPRESENTATIONS AND WARRANTIES

     The Credit Parties hereby represent and warrant to each of the Administrative Agent and each
of the Lenders that:

5.01. Financial Statements; No Material Adverse Effect; No Internal Control Event.

     (a) The Audited Financial Statements (i) were prepared in accordance with GAAP
consistently applied throughout the period covered thereby, except as otherwise expressly noted
therein; (ii) fairly present the financial condition of the Consolidated Borrower Parties as of the
date thereof and their results of operations for the period covered thereby in accordance with GAAP
consistently applied throughout the period covered thereby, except as otherwise expressly noted
therein; and (iii) show all material indebtedness and other liabilities, direct or contingent, of
the Consolidated Borrower Parties as of the date thereof, including liabilities for taxes, material
commitments and Indebtedness.

60

 

     (b) During the period from December 31, 2009 to and including the Closing Date, and as set
forth on Schedule 5.01(b) there has been no sale, transfer or other disposition by any
Consolidated Borrower Party of any material part of the business or property of the Consolidated
Borrower Parties, taken as a whole, and no purchase or other acquisition by any of them of any
business or property (including any Capital Stock of any other Person) material in relation to the
consolidated financial condition of the Consolidated Borrower Parties, taken as a whole, in each
case, which is not reflected in the foregoing financial statements or in the notes thereto and has
not otherwise been disclosed in writing to the Administrative Agent on or prior to the Closing
Date.

     (c) The financial statements delivered pursuant to Section 6.01(a) and (b)
have been prepared in accordance with GAAP (as may otherwise be permitted under Section
6.01(a) and (b), it being understood that certain specific information provided
pursuant to such sections may not be prepared in accordance with GAAP to the extent GAAP is not
applicable to such information) and present fairly (on the basis disclosed in the footnotes to such
financial statements) the consolidated financial condition, results of operations and cash flows of
the Consolidated Borrower Parties as of such date and for such periods.

     (d) Since December 31, 2009, there has been no event or circumstance, either individually
or in the aggregate, that has had or could reasonably be expected to have a Material Adverse
Effect.

     (e) Since the date of the Audited Financial Statements, no Internal Control Event has
occurred.

5.02. Existence, Qualification and Power.

     Each of the Credit Parties (a) is duly organized or formed, validly existing and, as
applicable, in good standing under the Laws of the jurisdiction of its incorporation or
organization, (b) has all requisite power and authority and all requisite governmental licenses,
authorizations, consents and approvals necessary to (i) own or lease its assets and carry on its
business and (ii) execute, deliver and perform its obligations under the Credit Documents to which
it is a party, and (c) is duly qualified and is licensed and, as applicable, in good standing under
the Laws of each jurisdiction where its ownership, lease or operation of properties or the conduct
of its business requires such qualification or license; except in each case referred to in clause
(b)(i) or (c), to the extent that failure to do so could not reasonably be expected to have a
Material Adverse Effect.

5.03. Authorization; No Contravention.

     The execution, delivery and performance by each Credit Party of each Credit Document to which
such Person is party, have been duly authorized by all necessary corporate or other organizational
action, and do not and will not (a) contravene the terms of any of such Person’s Organization
Documents; (b) conflict with or result in any breach or contravention of, or the creation of any
Lien under, or require any payment to be made under (i) any Contractual Obligation to which such
Person is a party or affecting such Person or the properties of such Person or any of its
Subsidiaries or (ii) any order, injunction, writ or decree of any Governmental

61

 

Authority or any arbitral award to which such Person or its property is subject, except to the
extent, in the case of each of clauses (i) and (ii), that failure to so comply could not reasonably
be expected to have a Material Adverse Effect; or (c) violate any Law except to the extent that
violation thereof could not reasonably be expected to have a Material Adverse Effect.

5.04. Binding Effect.

     This Credit Agreement has been, and each other Credit Document, when delivered hereunder, will
have been, duly executed and delivered by each Credit Party that is party thereto. This Credit
Agreement constitutes, and each other Credit Document when so delivered will constitute, a legal,
valid and binding obligation of such Credit Party, enforceable against each Credit Party that is
party thereto in accordance with its terms, subject to applicable bankruptcy, insolvency,
reorganization, moratorium or other laws affecting creditor’s rights generally and subject to
general principals of equity, regardless of whether considered in a proceeding in equity or at law.

5.05. Litigation.

     There are no actions, suits, proceedings, claims or disputes pending or, to the knowledge of
any Credit Party after due and diligent investigation, threatened or contemplated, at law, in
equity, in arbitration or before any Governmental Authority, by or against any Credit Party or
against any of its properties or revenues that (a) purport to affect or pertain to the legal
effectiveness or enforceability of this Credit Agreement or any other Credit Document, or any of
the transactions contemplated hereby, or (b) either individually or in the aggregate, could
reasonably be expected to have a Material Adverse Effect.

5.06. Compliance with ERISA.

     (a) Each Plan is in compliance in all material respects with the applicable provisions of
ERISA, the Code and other Federal or state Laws. Each Plan that is intended to qualify under
Section 401(a) of the Code has received a favorable determination letter from the IRS or an
application for such a letter is currently being processed by the IRS with respect thereto and, to
the knowledge of the Credit Parties, nothing has occurred which would prevent, or cause the loss
of, such qualification. Aviv and each ERISA Affiliate have made all required contributions to each
Plan subject to Section 412 of the Code, and no application for a funding waiver or an extension of
any amortization period pursuant to Section 412 of the Code has been made with respect to any Plan.

     (b) There are no pending or, to the knowledge of the Credit Parties, threatened claims,
actions or lawsuits, or action by any Governmental Authority, with respect to any Plan that could
reasonably be expected to have a Material Adverse Effect. There has been no prohibited transaction
or violation of the fiduciary responsibility rules under ERISA with respect to any Plan that has
resulted or could reasonably be expected to result in a Material Adverse Effect.

     (c) To the knowledge of a Responsible Officer, (i) no ERISA Event has occurred or is
reasonably expected to occur; (ii) no Pension Plan has any Unfunded Pension Liability; (iii)
neither Aviv nor any ERISA Affiliate has incurred, or reasonably expects to incur, any liability

62

 

under Title IV of ERISA with respect to any Pension Plan (other than premiums due and not
delinquent under Section 4007 of ERISA); (iv) neither Aviv nor any ERISA Affiliate has
incurred, or reasonably expects to incur, any liability (and no event has occurred which, with the
giving of notice under Section 4219 of ERISA, would result in such liability) under Sections 4201
or 4243 of ERISA with respect to a Multiemployer Plan; and (v) neither Aviv nor any ERISA Affiliate
has engaged in a transaction that could be subject to Sections 4069 or 4212(c) of ERISA.

5.07. Environmental Matters.

     Except as could not reasonably be expected to have a Material Adverse Effect:

     (a) To the knowledge of the Responsible Officers of the Credit Parties, each of the Real
Property Assets and all operations with respect to each of the Real Property Assets are in
compliance with all applicable Environmental Laws in all material respects and there are no
conditions relating to the Real Property Assets or the Businesses of the Borrowers that are likely
to give rise to liability to any Borrower under any applicable Environmental Laws.

     (b) To the knowledge of the Responsible Officers of the Credit Parties, none of the Real
Property Assets owned by the Borrowers contains, or has previously contained, any Hazardous
Substances at, on or under such property in amounts or concentrations that constitutes a violation
of, or could give rise to liability of any Borrowers under, applicable Environmental Laws.

     (c) No Credit Party has received any written or verbal notice of, or inquiry from any
Governmental Authority regarding, any violation, alleged violation, non-compliance, liability or
potential liability regarding environmental matters or compliance with Environmental Laws with
regard to any of the Real Property Assets owned by the Borrowers or the Businesses of the
Borrowers, nor does any Responsible Officer have knowledge or reason to believe that any such
notice will be received or is being threatened.

     (d) No Credit Party has generated, treated, stored or disposed of Hazardous Substances at,
on or under any of the Real Property Assets owned by the Borrowers in violation of, or in a manner
that could give rise to liability under, any applicable Environmental Law. To the knowledge of the
Responsible Officers of the Credit Parties, Hazardous Substances have not been transported or
disposed of from the Real Property Assets owned by the Borrowers, in each case by or on behalf of
any Borrower, in violation of, or in a manner that is likely to give rise to liability under, any
applicable Environmental Law.

     (e) To the knowledge of the Responsible Officers of the Credit Parties, no judicial
proceeding or governmental or administrative action is pending or threatened, under any
Environmental Law to which any Borrower is or will be named as a party, nor are there any consent
decrees or other decrees, consent orders, administrative orders or other orders, or other
administrative or judicial requirements outstanding under any Environmental Law with respect to the
Borrowers, the Real Property Assets or the Businesses of the Borrowers.

63

 

5.08. Margin Regulations; Investment Company Act; Business Loan.

     (a) No Credit Party is engaged or will engage, principally or as one of its important
activities, in the business of purchasing or carrying margin stock (within the meaning of
Regulation U issued by the FRB), or extending credit for the purpose of purchasing or carrying
margin stock and no part of the proceeds of the Loans will be used, directly or indirectly, for the
purpose of purchasing or carrying any margin stock.

     (b) None of the Credit Parties (i) is or is required to be registered as an “investment
company” under the Investment Company Act of 1940 or (ii) is subject to regulation under any other
Law which limits its ability to incur the Obligations.

     (c) The proceeds of the Loans have been and shall be used solely for business purposes and
in furtherance of the regular business affairs of the Borrowers, each Loan constitutes a “business
loan” as that term is defined in, and for all purposes of, 815 ILCS 205/4(c), and each Loan
constitutes a “loan secured by real estate” within the purview and operation of 815 ILCS 205/4(l).

5.09. Compliance with Laws.

     (a) Each Credit Party is in compliance in all material respects with the requirements of
all Laws and all orders, writs, injunctions and decrees applicable to it or to its properties,
except in such instances in which (a) such requirement of Law or order, writ, injunction or decree
is being contested in good faith by appropriate proceedings diligently conducted or (b) the failure
to comply therewith, either individually or in the aggregate, could not reasonably be expected to
have a Material Adverse Effect.

     (b) To the knowledge of the Responsible Officers of the Credit Parties, each of the Real
Property Assets, and the uses of the Real Property Assets, are in compliance in all material
respects with the requirements of all Laws and all orders, writs, injunctions and decrees
applicable to the Real Property Assets (including, without limitation, building and zoning laws and
Healthcare Laws), except in such instances in which (i) such requirement of Law or order, writ,
injunction or decree is being contested in good faith by appropriate proceedings diligently
conducted or (ii) the failure to comply therewith, either individually or in the aggregate, could
not reasonably be expected to have a Material Adverse Effect.

5.10. Ownership of Property; Liens.

     Each Borrower has good record and insurable title in fee simple to, or valid leasehold
interests in, all real property necessary or used in the ordinary conduct of its business
(including, in any case, each of the Real Property Assets), except for such defects in title as
could not, individually or in the aggregate, reasonably be expected to have a Material Adverse
Effect. The property of the Borrowers is subject to no Liens, other than Permitted Liens.

5.11. Corporate Structure; Capital Stock, Etc.

     As of the Closing Date and with respect to the Credit Parties only, as of each date on which
such schedule is subsequently updated pursuant to the terms hereof through the delivery of

64

 

a Compliance Certificate, Schedule 5.11 correctly sets forth the corporate structure
of Aviv and each of its Subsidiaries (including each of the Credit Parties), as well as the entity
and ownership structure of the Credit Parties and the correct legal name, tax identification number
and the jurisdiction of formation of the Credit Parties. Also included on Schedule 5.11 is
a listing of the number of shares of each class of Capital Stock outstanding with respect to each
Borrower, the Persons holding equity interests in such Borrowers, their percentage equity or voting
interest in the Borrowers and the number and effect, if exercised, of all outstanding options,
warrants, rights of conversion or purchase and all other similar rights with respect thereto.
Except as set forth on Schedule 5.11, as of the Closing Date: (i) no Borrower has issued to
any third party any securities convertible into any equity interest in such Borrower, or any
options, warrants or other rights to acquire any securities convertible into any such equity
interest, and (ii) the outstanding Capital Stock of each Borrower is owned by the Persons indicated
on Schedule 5.11, is validly issued, fully paid and non-assessable, and is free and clear
of all Liens, warrants, options and rights of others of any kind whatsoever. Each Person owning a
Real Property Asset is a Borrower hereunder.

5.12. Real Property Assets; Leases.

     (a) Schedule 5.12 (as updated pursuant to the terms hereof through the delivery of
a Compliance Certificate) is a true and complete list of (i) the street address of each Real
Property Asset, (ii) the Borrower which owns each such Real Property Asset, (iii) the Facility
Operating Leases to which each such Real Property Asset is subject, together with the applicable
Eligible Tenant and the termination date of such Facility Operating Lease, (iv) the name and
address of the applicable Eligible Tenant and (v) if other than a fee interest correctly sets forth
leasehold interest held by each Borrower in its respective Real Property Asset and properly
identifies the Eligible Leases which are ground Leases in existence as of the date hereof with
respect to the Real Property Assets, together with the ground lessor(s) and the remaining term of
the Eligible Leases and there is no other ground lease affecting the Real Property Assets. Each
parcel of real property identified on Part I of Schedule 5.12 is a Real Property Asset
which is subject to a first priority lien (subject to Permitted Liens) in favor of the
Administrative Agent (for the benefit of the Lenders) pursuant to a properly-recorded Mortgage
Instrument.

     (b) Part II of Schedule 5.12 as of the Closing Date (as updated upon request of
the Administrative Agent but so long as no Event of Default exists, not more than once per year)
properly sets forth the names and addresses of all Eligible Tenants with respect to the Real
Property Assets who are, to the knowledge of any Responsible Officer, (i) delinquent in paying any
franchise, business, intangible, personal property taxes or real estate taxes due beyond the later
of the applicable grace period with respect thereto, if any, and sixty (60) days and/or (ii) the
subject of any Bankruptcy Event.

     (c) To the knowledge of the Responsible Officers, Part III of Schedule 5.12 as of
the Closing Date (as updated upon request of the Administrative Agent but so long as no Event of
Default exists, not more than once per year) properly sets forth all material subleases (excluding
commercial leases) with respect to the Facility Operating Leases relating to any of the Real
Property Assets, together with the applicable tenant with respect thereto, the remaining term of
the sublease and whether or not such tenant is current on payments due thereunder.

65

 

     (d) To the knowledge of the Responsible Officers, each of the facilities located on the
Real Property Assets owned by the Borrowers complies with the requirements of Section 6.08
of this Agreement. To the knowledge of the Responsible Officers of the Credit Parties, no
condemnation or condemnation proceeding has been instituted and remained undismissed for a period
in excess of thirty (30) consecutive days, in each case, with respect to a material portion of any
Real Property Asset listed as a Real Property Asset on Part I of Schedule 5.12. To the
knowledge of the Responsible Officers of the Credit Parties, no material casualty event has
occurred with respect to the improvements located on any Real Property Asset listed on Part I of
Schedule 5.12 which has not been (or, if applicable) will not be able to be fully
remediated with available insurance proceeds.

     (e) To the knowledge of the Responsible Officers, no required rental payment, principal or
interest payment, payments of real property taxes or payments of premiums on insurance policies
payable to the Borrowers with respect to any Real Property Asset is past due beyond the later of
the applicable grace period with respect thereto, if any, and sixty (60) days to the extent that,
individually or in the aggregate, could reasonably be expected to result in a Material Adverse
Effect.

5.13. Material Contracts; Additional Contractual Obligations.

     Schedule 5.13 (as updated pursuant to the terms hereof through the delivery of a
Compliance Certificate) is a true, correct and complete listing of all Material Contracts as of the
Closing Date (other than those set forth on Part IV of Schedule 5.12). No event of
default, or event or condition which with the giving of notice, the lapse of time, a determination
of materiality, the satisfaction of any other condition or any combination of the foregoing, would
constitute such an event of default, exists with respect to any such Material Contract that could
reasonably be expected to have a Material Adverse Effect.

5.14. Investments.

     All Investments of each Borrower are Investments permitted pursuant to Section 7.03.

5.15. Solvency.

     The Credit Parties are Solvent on a consolidated basis.

5.16. Taxes.

     The Credit Parties have filed all Federal, material state and other material tax returns and
reports required to be filed, and have paid all Federal, state and other material taxes,
assessments, fees and other governmental charges levied or imposed upon them or their properties
(including all Real Property Assets), income or assets otherwise due and payable, or caused them to
be paid except those (a) which are being contested in good faith by appropriate proceedings
diligently conducted and for which adequate reserves have been provided in accordance with GAAP or
(b) which the failure to pay, discharge or insure over could not reasonably be expected to result
in a Material Adverse Effect. To the knowledge of the Responsible Officers of the Credit Parties,
there is no proposed tax assessment against any Credit Party that would, if made, have a Material
Adverse Effect. No Credit Party is party to any tax sharing agreement.

66

 

5.17. Insurance.

     All insurance coverage of the Borrowers and all insurance coverage of the Eligible Tenants
with respect to the Real Property Assets of the Borrowers, in each case, as in existence as of the
Closing Date and as of each date on which such schedule is subsequently updated pursuant to the
terms hereof through the delivery of a Compliance Certificate, is described on the certificates
delivered to the Administrative Agent and summarized on Schedule 5.17 attached hereto.

5.18. No Default.

     (a) No Credit Party is in default after all applicable notice and cure periods under or
with respect to any Contractual Obligation that individually or in the aggregate could reasonably
be expected to have a Material Adverse Effect.

     (b) No Default under this Agreement has occurred and is continuing as of the date hereof.

5.19. Healthcare; Facility Representations and Warranties.

     (a) Compliance With Healthcare Laws. Without limiting the generality of
Section 5.09 hereof or any other representation or warranty made herein, no Credit Party
and, to the knowledge of the Responsible Officers, no Eligible Tenant, is in material violation of
any applicable statutes, laws, ordinances, rules and regulations of any Governmental Authority with
respect to regulatory matters primarily relating to patient healthcare (including without
limitation Section 1128B of the Social Security Act, as amended, 42 U.S.C. Section 1320a-7b
(Criminal Penalties Involving Medicare or State Health Care Programs), commonly referred to as the
“Federal Anti-Kickback Statute,” Section 1877 of the Social Security Act, as amended, 42 U.S.C.
Section 1395nn (Prohibition Against Certain Referrals), commonly referred to as “Stark Statute,”
HIPAA and Civil Monetary Penalties Law, 42 U.S.C. § 1320a-7a) (collectively, “Healthcare Laws”)
where such violation would result in a Material Adverse Effect. Except as otherwise set forth on
Schedule 5.19, the Borrowers and, to the knowledge of the Responsible Officers of the
Credit Parties, each of the Eligible Tenants, have maintained in all material respects all records
required to be maintained by the Joint Commission on Accreditation of Healthcare Organizations, the
Food and Drug Administration, Drug Enforcement Agency and State Boards of Pharmacy and the federal
and state Medicare and Medicaid programs as required by the Healthcare Laws and, to the knowledge
of the Responsible Officers, there are no notices of material violations of the Healthcare Laws
with respect to the Credit Parties, any Eligible Tenant, any material operating subtenant or any of
the Real Property Assets.

     (b) Licenses, Permits, and Certifications.

     (i) To the knowledge of the Responsible Officers of the Credit Parties, each
Eligible Tenant has such permits, licenses, franchises, certificates and other approvals or
authorizations (collectively, the “Licenses”) of Governmental Authorities as are necessary
under applicable law or regulations to own its properties and to conduct its business and to
receive reimbursement under the applicable Medicare and Medicaid programs with which such
Eligible Tenant participates (including without limitation such

67

 

permits as are required under such federal, state and other health care laws, and under
similar licensure laws and such insurance laws and regulations, as are applicable thereto),
if the failure to obtain such permits, licenses, franchises, certificates and other
approvals or authorizations could reasonably be expected to result in a Material Adverse
Effect. Notwithstanding the foregoing, no Borrower is the owner of any licenses or permits
required for the provision of Medical Services at any of the Real Property Assets except as
a Short Term Operator.

     (ii) To the knowledge of the Responsible Officers of the Credit Parties, each
Eligible Tenant has all Medicare, Medicaid and related agency supplier billing number(s) and
related documentation necessary to receive reimbursement from the applicable Medicare and/or
Medicaid programs with which such Eligible Tenant participates for any Medical Service
furnished by such Person if the failure to obtain billing number(s) or related documentation
could reasonably be expected to result in a Material Adverse Effect. Except as set forth on
Schedule 5.19, to the knowledge of the Responsible Officers, each Eligible Tenant
that participates in the Medicare program meets Medicare’s Conditions for Participation and
no Eligible Tenant is currently subject to exclusion, suspension, revocation, renewal or
denial of its Medicare and/or Medicaid certification, supplier billing number(s), or
Medicare and/or Medicaid participation agreement(s).

     (iii) Except as set forth on Schedule 5.19, to the knowledge of the
Responsible Officers, each of the facilities located on the Real Property Assets owned by
the Borrowers are currently accredited by the Joint Commission (formerly the Joint
Commission on Accreditation of Healthcare Organizations (“Joint Commission”)) or any other
required Governmental Authority and is duly licensed to operate in the manner currently
operated, as required under applicable Laws. In addition, except as set forth on
Schedule 5.19, to the knowledge of the Responsible Officers of the Credit Parties,
each such facility is in compliance in all material respects with the applicable provisions
of every Law of any Governmental Authority having jurisdiction over the operation thereof,
including, without limitation, Healthcare Laws and fire safety codes.

     (c) Medical Services. No Credit Party is in the business of providing Medical
Services except as a Short Term Operator.

5.20. Disclosure.

     Each Credit Party has disclosed to the Administrative Agent and the Lenders all agreements,
instruments and corporate or other restrictions to which it or any of its Subsidiaries is subject,
and all other matters known to it, that, individually or in the aggregate, could reasonably be
expected to result in a Material Adverse Effect. No report, financial statement, certificate or
other information furnished (whether in writing or orally) by or on behalf of any Credit Party to
the Administrative Agent or any Lender in connection with the transactions contemplated hereby and
the negotiation of this Agreement or delivered hereunder or under any other Credit Document (in
each case, as modified or supplemented by other information so furnished) contains any material
misstatement of fact or omits to state any material fact necessary to make the statements therein,
in the light of the circumstances under which they were made, not misleading; provided
that, with respect to projected financial information, the Credit

68

 

Parties represent only that such information was prepared in good faith based upon assumptions
believed to be reasonable at the time.

5.21. Governmental Authorizations; Other Consents.

     Except for the filings, recordings and other actions necessary to create and perfect the Liens
and security interests contemplated hereunder and under the other Credit Documents, no approval,
consent, exemption, authorization, or other action by, or notice to, or filing with, any
Governmental Authority or any other Person is necessary or required in connection with the
execution, delivery or performance by, or enforcement against, any Credit Party of this Credit
Agreement or any other Credit Document.

5.22. Anti-Terrorism Laws.

     Neither any Credit Party nor any of its Subsidiaries is an “enemy” or an “ally of the enemy”
within the meaning of Section 2 of the Trading with the Enemy Act of the United States of America
(50 U.S.C. App. §§ 1 et seq.) (the “Trading with the Enemy Act”), as amended. Neither any Credit
Party nor any of its Subsidiaries is in violation of (a) the Trading with the Enemy Act, as
amended, (b) any of the foreign assets control regulations of the United States Treasury Department
(31 CFR, Subtitle B, Chapter V, as amended) or any enabling legislation or executive order relating
thereto or (c) the Patriot Act. Set forth on Schedule 5.22 is the exact legal name of each
Credit Party, the state of incorporation or organization, the chief executive office, the principal
place of business, the jurisdictions in which the Credit Parties are qualified to do business, the
federal tax identification number and organization identification number of each of the Credit
Parties as of the Closing Date (and for the four (4) months prior to the Closing Date).

5.23. Collateral Documents.

     The Collateral Documents create valid security interests in, and Liens on, the Collateral
purported to be covered thereby, which security interests and Liens are currently perfected
security interests and Liens, prior to all other Liens other than Permitted Liens which by
operation of law or contract would have priority over the Liens securing the Obligations and Liens
which are being contested pursuant to the terms of this Agreement, provided that if any
statement in this Section 5.23 is untrue, no Event of Default shall be deemed to have
occurred so long as, within three (3) Business Days after so requested in writing by the
Administrative Agent, the applicable Borrower executes and delivers to the Administrative Agent any
reasonable documentation or takes such reasonable actions as requested by the Administrative Agent
which are necessary to cure such defect, including bonding or insuring over any such Liens.

ARTICLE VI

AFFIRMATIVE COVENANTS

     The Credit Parties hereby covenant and agree with the Administrative Agent and each Lender
that until the Obligations (other than indemnification obligations and other contingent obligations
for which no claim has been asserted), together with interest, fees and other

69

 

obligations hereunder, have been paid in full and the Revolving Commitments hereunder shall
have terminated:

6.01. Financial Statements.

     The Borrowers shall deliver to the Administrative Agent (and the Administrative Agent shall
disseminate such information pursuant to the terms of Section 6.02 hereof), in form and
detail reasonably satisfactory to the Administrative Agent:

     (a) as soon as available, but in any event within ninety (90) days after the end of each
fiscal year of Aviv, (i) a consolidated balance sheet of the Consolidated Borrower Parties as at
the end of such fiscal year, and the related consolidated statements of earnings, an Aged
Delinquencies Monthly Rent report for each Borrower, partners’ equity and cash flows for such
fiscal year, and (ii) a consolidated balance sheet of the Consolidated Aviv Parties as at the end
of such fiscal year and the related statement of earnings, partners’ equity and cash flows for such
fiscal year setting forth in each case in comparative form the figures for the previous fiscal
year, all in reasonable detail and prepared in accordance with GAAP, audited and accompanied by a
report and opinion of an independent accounting firm of nationally recognized standing reasonably
acceptable to the Administrative Agent (the Administrative Agent hereby agrees that any of the “Big
Four” accounting firms are hereby approved), which report and opinion shall be prepared in
accordance with generally accepted auditing standards and shall not be subject to any “going
concern” or like qualification or exception or any qualification or exception as to the scope of
such audit; and

     (b) as soon as available, but in any event within sixty (60) days after the end of each of
the first three (3) fiscal quarters and within ninety (90) days after the end of the fourth fiscal
quarter of each fiscal year of Aviv, (i) a consolidated balance sheet of the Consolidated Borrower
Parties as at the end of such fiscal quarter, and the related consolidated statements of earnings,
an Aged Delinquencies Monthly Rent report for each Borrower, partners’ equity and cash flows for
such fiscal quarter and (ii) a consolidated balance sheet of the Consolidated Aviv Parties as at
the end of such fiscal quarter, and the related consolidated statements of earnings, partners’
equity and cash flows for such fiscal quarter and in each case for the portion of Aviv’s fiscal
year then ended, setting forth in each case in comparative form the figures for the corresponding
fiscal quarter of the previous fiscal year and the corresponding portion of the previous fiscal
year, all in reasonable detail and certified by a Responsible Officer as fairly presenting the
financial condition, results of operations, shareholders’ equity and cash flows of the Consolidated
Borrower Parties or Consolidated Aviv Parties, as applicable, in accordance with GAAP, subject only
to normal year-end audit adjustments and the absence of footnotes; provided, that the
Administrative Agent hereby agrees that unaudited financial statements of Aviv in form similar to
that delivered as part of the unaudited financial statements delivered as part of Section
4.01 shall satisfy the requirements of this Section 6.01(b).

6.02. Certificates; Other Information.

     The Borrowers shall deliver to the Administrative Agent (and the Administrative Agent shall
disseminate such information pursuant to the terms of this Section 6.02), in form and
detail reasonably satisfactory to the Administrative Agent:

70

 

     (a) concurrently with the delivery of the financial statements referred to in Sections
6.01(a) and (b), a duly completed Compliance Certificate signed by a Responsible
Officer as to the Consolidated Borrower Parties and an officer of the REIT Party as to the
Consolidated Aviv Parties;

     (b) as soon as available, but in any event within sixty (60) days after the end of each
fiscal quarter of Aviv, with respect to the statements and calculations from the respective
Eligible Tenants for each of the Real Property Assets, the information specified on Exhibit
6.02(b) for the prior fiscal quarter and such other material reports and information reasonably
requested by the Administrative Agent, but excluding (unless otherwise requested by the
Administrative Agent) reports of so-called Medicare, Medicaid or Licensure surveys of the
healthcare facilities and correspondence with any Governmental Authority regarding such surveys;
and

     (c) within thirty (30) days after the end of each fiscal year of Aviv, beginning with the
fiscal year ending December 31, 2009, an annual operating forecast of Aviv containing, among other
things, pro forma financial statements for the then current fiscal year;

     (d) promptly after any written request by the Administrative Agent, copies of any final
detailed audit reports or management letters submitted to the board of directors by the independent
accountants of Aviv (or the audit committee of the board of directors of Aviv) in respect of Aviv
(and, to the extent any such reports, letters or recommendations are prepared separately for any
one or more of the Borrowers, such Borrower(s)) by independent accountants in connection with the
accounts or books of Aviv (or such Borrower(s)) or any audit of Aviv (or such Borrower(s));

     (e) promptly after the same are available and to the extent the Borrowers are part of a
public entity subject to SEC reporting requirements, (i) copies of each annual report, proxy or
financial statement or other report or communication sent to the stockholders of Aviv, and copies
of all annual, regular, periodic and special reports and registration statements which Aviv may
file or be required to file with the SEC under Section 13 or 15(d) of the Securities Exchange Act
of 1934 or to a holder of any Indebtedness owed by Aviv in its capacity as such holder and not
otherwise required to be delivered to the Administrative Agent pursuant hereto and (ii) upon the
written request of the Administrative Agent, all reports and other written information (other than
non-material information) to and from the United States Environmental Protection Agency, or any
state or local agency responsible for environmental matters, the United States Occupational Health
and Safety Administration, or any state or local agency responsible for health and safety matters,
or any successor agencies or authorities concerning environmental, health or safety matters;

     (f) promptly upon receipt thereof, a copy of any other final report or “management letter”
submitted by independent accountants to the REIT Party, Aviv or any Credit Party in connection with
any annual, interim or special audit of the books of Aviv (or any such Credit Party(ies));

     (g) promptly upon any Responsible Officer, becoming aware thereof, notice of (i) any
matter that has resulted or could reasonably be expected to result in a Material Adverse Effect,

71

 

(ii) any other Default or Event of Default and (iii) the occurrence of any Internal Control
Event; and

     (h) promptly, such additional information regarding the business, financial or corporate
affairs of the Borrowers, or compliance with the terms of the Credit Documents, as the
Administrative Agent or any Lender (through the Administrative Agent) may from time to time
reasonably request.

     Documents required to be delivered pursuant to Section 6.01(a) or (b) or
Section 6.02(b), (c), (d) or (e)(i) may be delivered electronically
and if so delivered, shall be deemed to have been delivered on the date (i) on which the Credit
Parties post such documents, or provides a link thereto on Aviv’s website on the Internet at the
website address listed on Schedule 10.02 or delivered to the Administrative Agent from time
to time; or (ii) on which such documents are posted on the Credit Parties’ behalf on an Internet or
intranet website, if any, to which each Lender and the Administrative Agent have access (whether a
commercial, third-party website or whether sponsored by the Administrative Agent); provided
that: (A) the Borrowers shall deliver paper copies of such documents to the Administrative Agent or
any Lender that requests the Borrowers to deliver such paper copies until a written request to
cease delivering paper copies is given by the Administrative Agent or such Lender and (B) the
Borrowers shall notify the Administrative Agent and each Lender (by telecopier or electronic mail)
of the posting of any such documents and provide to the Administrative Agent by electronic mail
electronic versions (i.e., soft copies) of such documents. Notwithstanding anything contained
herein, in every instance the Borrowers shall be required to provide paper copies of the Compliance
Certificates required by Section 6.02(a) to the Administrative Agent. Except for such
Compliance Certificates, the Administrative Agent shall have no obligation to request the delivery
or to maintain copies of the documents referred to above, and in any event shall have no
responsibility to monitor compliance by the Credit Parties with any such request for delivery, and
each Lender shall be solely responsible for requesting delivery to it or maintaining its copies of
such documents. The Borrowers’ obligation to deliver any notices or documentation to any Lender
pursuant to this section shall be conditioned upon such Lender providing (on Schedule 10.02 or
otherwise) an accurate mailing address to the Borrowers.

     The Credit Parties hereby acknowledge that (x) the Administrative Agent will make available to
the Lenders materials and/or information provided by or on behalf of the Credit Parties hereunder
(collectively, the “Borrower Materials”) by posting the Borrower Materials on IntraLinks or another
similar electronic system (the “Platform”) and (y) certain of the Lenders (each, a “Public Lender”)
may have personnel who do not wish to receive material non-public information with respect to the
Credit Parties or their Affiliates, or the respective securities of any of the foregoing, and who
may be engaged in investment and other market-related activities with respect to such Person’s
securities. Each of the Credit Parties hereby agrees that (ww) all Borrower Materials that are to
be made available to Public Lenders shall be clearly and conspicuously marked “PUBLIC” which, at a
minimum, shall mean that the word “PUBLIC” shall appear prominently on the first page thereof (xx)
by marking Borrower Materials “PUBLIC,” the Credit Parties shall be deemed to have authorized the
Administrative Agent and the Lenders to treat such Borrower Materials as not containing any
material non-public information with respect to the Credit Parties or their securities for purposes
of United States federal and state securities laws (provided, however, that to the
extent such Borrower Materials

72

 

constitute Information, they shall be treated as set forth in Section 10.07); (yy) all
Borrower Materials marked “PUBLIC” are permitted to be made available through a portion of the
Platform designated as “Public Investor;” and (zz) the Administrative Agent shall be entitled to
treat any Borrower Materials that are not marked “PUBLIC” as being suitable only for posting on a
portion of the Platform not marked as “Public Investor.” Notwithstanding the foregoing, the Credit
Parties shall be under no obligation to mark any Borrower Materials “PUBLIC”, and if any Borrower
Materials are not stamped “PUBLIC”, such Borrower Materials shall be deemed to be private. Each
Lender shall have open and free access to the Platform, and Administrative Agent shall promptly
post all materials and notices received from Borrower and/or any material notices delivered by
Administrative Agent to Borrowers (including without limitation any notices of any Event of
Default) to the Platform.

6.03. Preservation of Existence and Franchises.

     Each Credit Party will do all things necessary to preserve and keep in full force and effect
its existence, rights, franchises and authority. Each Credit Party shall remain qualified and in
good standing in each jurisdiction in which it is required to so qualify.

6.04. Books and Records.

     Each Credit Party will maintain proper books of record and account, in which full, true and
correct entries in conformity with GAAP consistently applied shall be made of all financial
transactions and matters involving the assets and business of such Credit Party.

6.05. Compliance with Law.

     Each Credit Party will comply in all material respects with the requirements of all Laws and
all orders, writs, injunctions and decrees (including, without limitation, building and zoning laws
and all Healthcare Laws) applicable to it or to its business or property (including, without
limitation, each Real Property Asset owned by any Borrower), except in such instances in which (a)
such requirement of Law or order, writ, injunction or decree is being contested in good faith by
appropriate proceedings diligently conducted; or (b) the failure to comply therewith could not
reasonably be expected to have a Material Adverse Effect.

6.06. Payment of Obligations.

     Each Credit Party will pay, discharge or insure over (or cause to be paid, discharged or
insured over) (a) all tax liabilities, assessments and governmental charges or levies upon it or
its properties or assets (including, without limitation, each Real Property Asset owned by any
Borrower), unless (i) the same are being contested in good faith by appropriate proceedings
diligently conducted and adequate reserves in accordance with GAAP are being maintained by such
Credit Party or (ii) failure to pay, discharge or insure over could not reasonably be expected to
result in a Material Adverse Effect and (b) all lawful claims which, if unpaid, would by law become
a Lien (other than a Permitted Lien) upon its property, subject to rights of contest as set forth
in Section 7.01; provided, in each case, subject to Borrower’s right to contest in
good faith by appropriate legal proceeding and with reasonable diligence the validity of such
payment unless the failure to make any such payment could give rise to an immediate right to
foreclosure on a Lien securing such amounts in respect of any Real Property Assets.

73

 

6.07. Insurance.

     In addition to the requirements of any of the other Credit Documents, the Credit Parties shall
maintain, or with respect to any Real Property Asset leased by a Borrower to an Eligible Tenant,
cause the applicable Eligible Tenant, to maintain, with financially sound and reputable insurance
companies not Affiliates of any Credit Party, insurance with respect to its properties and business
against loss or damage of the kinds customarily insured against by Persons engaged in the same or
similar business, of such types and in such amounts required under the terms of the Facility
Operating Leases. The Administrative Agent shall be named as loss payee or mortgagee, as its
interest may appear, and/or additional insured with respect to any insurance procured with respect
to the Real Property Assets and each provider of any such insurance shall agree, by endorsement
upon the policy or policies issued by it or by independent instruments furnished to the
Administrative Agent, that it will give the Administrative Agent thirty (30) days prior written
notice before any such policy or policies shall be canceled.

6.08. Maintenance of Property.

     In addition to the requirements of any of the other Credit Documents, the Borrowers shall
protect and preserve, or cause to be protected and preserved all Real Property Assets so as to
maintain, or cause to be maintained, in good working order and condition all Real Property Assets,
ordinary wear and tear, casualty and condemnation excepted. No Borrower owns any material
intellectual property.

6.09. Visit and Inspections.

     Each Credit Party shall permit the Administrative Agent to inspect such Borrower’s properties
and operations at all reasonable times with reasonable notice (which notice shall also be provided
to the Lenders) (or at any time without notice if an Event of Default exists); provided,
however, prior to an Event of Default, no more than one inspection per property per fiscal
year shall be conducted by the Administrative Agent (but after any such Event of Default, there
shall be no such limitation on the number of inspections during any fiscal year); provided,
further, that during any such inspection, (a) an officer or representative of Aviv or
Borrowers and (b) representatives of the Lenders, will be permitted to accompany the Administrative
Agent or any representative thereof.

6.10. Use of Proceeds.

     The Borrowers shall use the proceeds of the initial Borrowing solely to repay existing
indebtedness, fees and expenses related to this Agreement and the Equity Investment and all
Extensions of Credit for Revolving Loans shall be used for purposes not in contravention of any Law
or of any Credit Document and limited to the financing of Acquisition Projects and Renovation
Projects (it being understood and agreed that no Borrower shall use such proceeds, whether directly
or indirectly, and whether immediately, incidentally or ultimately, to purchase or carry margin
stock (within the meaning of Regulation U of the FRB) or to extend credit to others for the purpose
of purchasing or carrying margin stock or to refund indebtedness originally incurred for such
purpose).

74

 

6.11. Financial Covenants.

     (a) Consolidated Debt Yield (Borrower Parties). The Consolidated Borrower Parties
shall cause the Debt Yield (Borrower Parties), as of any date of calculation, to be equal to or
greater than 17.25%.

     (b) Consolidated Debt Service Coverage Ratio (Borrower Parties). The
Consolidated Borrower Parties shall cause the Debt Service Coverage Ratio (Borrower Parties), as of
any date of calculation, to be equal to or greater than 1.50 to 1.00.

     (c) Consolidated Debt Yield (Aviv Parties). The Consolidated Aviv Parties shall
cause the Debt Yield (Aviv Parties), as of any date of calculation, to be equal to or greater than
17.25%.

     (d) Consolidated Debt Service Coverage Ratio (Aviv Parties). The Consolidated
Aviv Parties shall cause the Debt Service Coverage Ratio (Aviv Parties), as of any date of
calculation, to be equal to or greater than 1.25 to 1.00.

     (e) Minimum Debt Service Coverage Ratio (Facility Operations). Borrower shall
cause the Debt Service Coverage Ratio (Facility Operations), as of any date of calculation, to be
equal to or greater than 1.50:1.00.

     (f) Minimum Distribution Coverage Ratio. The Borrowers shall not permit the
Distribution Coverage Ratio to be less than 1.10:1.00; provided that, notwithstanding
anything contained herein or the other Credit Documents to the contrary, in all events the
Borrowers shall be permitted (i) to distribute such amounts sufficient for the REIT Party to pay
its entity-level taxes and (ii) distribute such other amounts as are necessary to maintain the REIT
status of the REIT Party and the Borrowers shall not be deemed to be out of compliance with the
Distribution Coverage Ratio as a result of the distributions permitted under clauses (i) and (ii)
above.

6.12. Environmental Matters.

     (a) Each of the Credit Parties shall comply or shall cause the Eligible Tenants to comply
in all material respects with all Environmental Laws in respect of the Real Property Assets. The
Credit Parties shall promptly take (or cause the Eligible Tenant to take) all actions reasonably
necessary to prevent the imposition of any Liens on any of the Real Property Assets arising out of
or related to any Environmental Laws.

     (b) In respect of any Real Property Asset, each Credit Party shall comply in all material
respects with the provisions of the Hazardous Materials Indemnity Agreement.

6.13. [Intentionally Omitted.]

6.14. Covenant to Guarantee Obligations and Give Security.

     (a) Upon the acquisition, incorporation or other creation of any direct or indirect
Subsidiary of Parent Borrower which owns or is to own a Real Property Asset, the Credit Parties
shall (i) cause such Subsidiary to become a Borrower hereunder through the execution and

75

 

delivery to the Administrative Agent of a Borrower Joinder Agreement on or before the earlier
of (A) the date on which a Real Property Asset is acquired by such Subsidiary and (B) the deadline
for the delivery of the next Compliance Certificate pursuant to Section 6.02(a), and (ii)
cause such Subsidiary to deliver such other documentation as the Administrative Agent may
reasonably request, within fifteen (15) days of such request, in connection with the foregoing,
including, without limitation, certified resolutions and other organizational and authorizing
documents of such Subsidiary, favorable opinions of counsel to such Subsidiary (which shall cover,
among other things, the legality, validity, binding effect and enforceability of the documentation
referred to above), all in form, content and scope reasonably satisfactory to the Administrative
Agent. Notwithstanding the foregoing, no such Subsidiary may become a Borrower in accordance with
the terms of this clause (a) unless and until the Lenders have received from the Borrowers any such
documentation and other information requested by the Administrative Agent or any Lender pursuant to
Section 10.19.

     (b) The Borrowers shall at all times subject all Real Property Assets and all of their
respective personal property to first priority Liens (subject in any case to Permitted Liens) in
favor of the Administrative Agent to secure the Obligations pursuant to the terms and conditions of
the Credit Documents and deliver all Real Property Asset Deliverables (and any updates to any of
the information or materials delivered as a portion thereof) and such other documentation as the
Administrative Agent shall reasonably request, all in form, content and scope reasonably
satisfactory to the Administrative Agent. In furtherance of the Borrowers’ obligations under this
Section 6.14, each of the Borrowers hereby agree that they shall, from time to time, at
their own expense, promptly execute, deliver, file and/or record all further instruments and
documents, and take all further action, that may be necessary, or that the Administrative Agent may
reasonably request (including, without limitation, the procurement of landlord consents with
respect to the assignment of the applicable Borrower’s interests in any Real Property Assets), in
order to (a) properly evidence the Borrowers’ Obligations hereunder or under any Credit Document or
(b) perfect, continue and protect the Liens and security interests granted or purported to be
granted by any Collateral Documents and to enable the Administrative Agent to exercise and enforce
its rights and remedies hereunder and under any other Credit Document with respect to any
Collateral. The applicable Borrower(s) shall promptly deliver to the Administrative Agent a copy
of each such instrument and evidence of its proper filing or recording, as necessary.

6.15. Further Assurances.

     Each Credit Party shall, promptly upon request by the Administrative Agent, or any Lender
through the Administrative Agent, (a) correct any material defect or error that may be discovered
in any Credit Document or in the execution, acknowledgment, filing or recordation thereof, and (b)
do, execute, acknowledge, deliver, record, re-record, file, re-file, register and re-register any
and all such further acts, deeds, certificates, assurances and other instruments as the
Administrative Agent, or any Lender through the Administrative Agent, may reasonably require from
time to time in order to (i) carry out more effectively the purposes of the Credit Documents, (ii)
to the fullest extent permitted by applicable law, subject any Credit Party’s or any of its
Subsidiaries’ properties, assets, rights or interests to the Liens now or hereafter intended to be
covered by any of the Collateral Documents, (iii) perfect and maintain the validity, effectiveness
and priority of any of the Collateral Documents and any of the Liens intended to be created
thereunder and (iv) assure, convey, grant, assign, transfer, preserve, protect and confirm more

76

 

effectively unto the Administrative Agent the rights granted or now or hereafter intended to
be granted to the Administrative Agent under any Credit Document or under any other instrument
executed in connection with any Credit Document to which any Credit Party is or is to be a party.

6.16. Compliance With Material Contracts.

     To the extent the failure to do so could reasonably be expected to result in a Material
Adverse Effect, each Credit Party shall perform and observe all the terms and provisions of each
Material Contract to be performed or observed by it, maintain each such Material Contract in full
force and effect, enforce each such Material Contract in accordance with its terms, take all such
action to such end as may be from time to time requested by the Administrative Agent and, upon
request of the Administrative Agent, make to each other party to each such Material Contract such
demands and requests for information and reports or for action as any Credit Party is entitled to
make under such Material Contract.

6.17. Appraisals.

     The Credit Parties agree that the Administrative Agent shall have the right, at its own
expense, prior to the Maturity Date, to request appraisals, and if requested by the Required
Lenders, Administrative Agent shall request appraisals, with respect to the Real Property Assets,
that the Administrative Agent shall engage all appraisers with respect to such appraisals;
provided, however, that after the occurrence and during the continuance of an Event of
Default, the Credit Parties shall pay or reimburse to the Administrative Agent all reasonable and
documented costs and expenses associated therewith to the extent required by and subject to the
provisions of Section 10.04 hereof.

6.18. Facility Leases.

     The Borrowers shall, and shall cause each Eligible Tenant to, perform and observe all the
material terms and provisions of each Facility Operating Lease to be performed or observed by it.

6.19. Anti-Terrorism Laws.

     None of the Credit Parties nor any of their respective Affiliates (a) will conduct any
business or will engage in any transaction or dealing with any Prohibited Person, including making
or receiving any contribution of funds, goods or services to or for the benefit of any Prohibited
Person, (b) will deal in, or will engage in any transaction relating to, any property or interests
in property blocked pursuant to the Executive Order; or (c) will engage in or will conspire to
engage in any transaction that evades or avoids, or has the purpose of evading or avoiding, or
attempts to violate, any of the prohibitions set forth in the Executive Order or the Patriot Act.
The Borrower covenants and agrees to execute and/or deliver to Administrative Agent any
certification or other evidence reasonably requested from time to time by Administrative Agent,
confirming the Borrower’s compliance with this Section including, without limitation, any
documentation which is necessary for ongoing compliance with any anti-money laundering Laws
applicable to any Lender.

77

 

6.20. Health Care Covenants.

     Without limiting the generality of the provisions of Section 6.05, the Borrower hereby
represents, covenants and agrees as follows:

     (a) If and to the extent required under applicable Laws, Borrower shall cause each
Eligible Tenant to maintain in full force and effect a valid certificate of need (“CON”) or similar
certificate, license, or approval issued by the State Regulator for the requisite number of
Licensed Beds in the Real Property Assets, and a provider agreement or other required documentation
of approved provider status for each provider payment or reimbursement program with which such
Eligible Tenant participates, if applicable. Borrower shall cause each Eligible Tenant to operate
the Real Property Assets in a manner such that the Licenses shall remain in full force and effect.
True and complete copies of the Licenses have been delivered to Lender.

     (b) The Licenses:

     (i) Are not now and will not be transferred to any location other than the
applicable Real Property Asset; and

     (ii) Shall continue in full force and effect throughout the term of the Loan and
will remain free from restrictions or known conflicts, and shall not be provisional,
probationary or restricted in any manner, which would materially impair the use or operation
of the applicable Real Property Asset as a skilled nursing facility.

     (c) Borrower shall not do, and shall not permit any Eligible Tenant to do (or suffer to be
done), any of the following with respect to the Real Property Assets:

     (i) Rescind, withdraw, revoke, or amend the number of Licensed Beds permitted under
the Licenses or otherwise amend the Licenses in such a manner that results in a Material
Adverse Effect or otherwise diminish or impair the nature, tenor or scope of the Licenses
which could reasonably be expected to materially impair the use or operation of the
applicable Real Property Asset as a skilled nursing facility;

     (ii) Amend or otherwise change the number of Licensed Beds approved by the State
Regulator in such a manner that results or could reasonably be expected to result in a
Material Adverse Effect or otherwise diminishes or impairs the use or operation of the
applicable Real Property Asset as a skilled nursing facility; or

     (iii) Replace or transfer all or any part of any Real Property Asset’s Licensed
Beds to another site or location other than another Real Property Asset;

6.21. Use and Application of Insurance Proceeds.

     (a) Notice. If any Real Property Asset shall be damaged or destroyed, in whole or
a substantial part, by fire or other casualty (a “Casualty”), the Borrowers shall give prompt
notice thereof to the Administrative Agent.

78

 

     (b) Application of Insurance Proceeds. Following a Casualty, the Administrative
Agent shall pay the insurance proceeds to Borrowers to apply toward the rebuilding and restoration
of the improvements on the affected Real Property Asset, provided that (A) at all times
during such restoration no Event of Default exists; (B) the applicable Borrower promptly commences
and is diligently pursuing the settlement of the insurance claim and the restoration of the Real
Property Asset (or requires the applicable Operating Tenant to do so); and (C) the affected Real
Property Asset after the restoration will be in compliance with and permitted under all applicable
Laws, including zoning, building and land use laws, rules, regulations and ordinances;
provided, further that the Administrative Agent shall determine in its sole discretion
whether to pay the insurance proceeds to Borrowers to apply toward the rebuilding and restoration
of the improvements on the affected Real Property Asset if an Event of Default would exist if the
Rental Revenue associated with such Real Property Asset were excluded from the calculation of the
financial covenants hereunder during the period of any such restoration or repair. So long as an
Event of Default exists, however, the insurance proceeds shall be paid to the Administrative Agent
and if the applicable Facility Operating Lease is not terminated as a result of the Casualty, the
Administrative Agent shall make such insurance proceeds available to the Eligible Tenant on the
same terms and conditions as set forth in the applicable Facility Operating Lease. In the event
the applicable Facility Operating Lease is terminated and an Event of Default exists, then, in the
Administrative Agent’s reasonable discretion, the Administrative Agent may apply any insurance
proceeds it may receive to Obligations owing under the Credit Documents in such order and manner as
the Administrative Agent in its sole discretion determines, or allow all or a portion of such
proceeds to be used for the restoration of the affected Real Property Asset.

6.22. Condemnation Awards.

     To the extent a Borrower receives written notice thereof, the Borrower shall promptly give the
Administrative Agent written notice of the actual or threatened commencement of any condemnation or
eminent domain proceeding affecting all or any substantial portion of a Real Property Asset (a
“Condemnation”) and shall deliver to the Administrative Agent copies of any and all papers served
in connection with such Condemnation. Following the occurrence of a Condemnation, so long as an
Event of Default does not exist, the Borrower shall be entitled to receive any award or
compensation (an “Award”) paid in connection with the Condemnation and decide whether or not (and
to what extent) to restore, repair, replace or rebuild the affected Real Property Asset. Upon the
written request of the Administrative Agent, the applicable Borrower shall keep the Administrative
Agent informed of the progress of the Condemnation proceedings, including delivering to the
Administrative Agent documents which are reasonably necessary for the Administrative Agent be
properly informed. So long as no Event of Default exists, the applicable Borrower may settle such
Condemnation in such manner and for such amount as Borrower determines is acceptable in its
reasonable judgment. So long as an Event of Default exists, however, without the Administrative
Agent’s prior consent, the Borrower (a) shall not agree to any Award, and (b) shall not take any
action or fail to take any action which would cause the Award to be determined and all Awards for
the taking or purchase in lieu of condemnation of any Real Property Asset or any part thereof in
such circumstances shall be assigned and paid to the Administrative Agent. If the applicable
Facility Operating Lease is not terminated, then, to the extent the Administrative Agent receives
the Award, the Administrative Agent shall make such Award available to the applicable Eligible
Tenant under the terms and

79

 

conditions of its Facility Operating Lease. Anything herein to the contrary notwithstanding,
if an Event of Default exists and the applicable Facility Operating Lease is terminated, the
Administrative Agent is authorized to adjust such Award without the consent of the Borrower and to
collect such Award in the name of the Administrative Agent and the Borrower. In such event and in
the Administrative Agent’s reasonable discretion, the Administrative Agent may apply any such Award
it may receive to Obligations owing under the Credit Documents in such order and manner as the
Administrative Agent in its sole discretion determines, or allow all or a portion of such Award to
be used for the restoration of the affected Real Property Asset.

ARTICLE VII

NEGATIVE COVENANTS

     The Credit Parties hereby covenant and agree with the Administrative Agent and each Lender
that until the Obligations (other than indemnification obligations and other contingent obligations
for which no claim has been asserted), together with interest, fees and other obligations
hereunder, have been paid in full and the Revolving Commitments hereunder shall have terminated:

7.01. Liens.

     With the exception of Permitted Liens, no Borrower shall, at any time, create, incur, assume
or suffer to exist any Lien upon any of its property, assets or revenues, whether now owned or
hereafter acquired, or sign or file or suffer to exist under the Uniform Commercial Code of any
jurisdiction a financing statement that names any Borrower as debtor, or assign any accounts or
other right to receive income (provided, however, that Borrowers shall have the
right to contest in good faith by appropriate legal proceeding and with reasonable diligence the
validity of any such Lien provided that Borrowers (a) deposit with Administrative Agent, in cash,
an amount equal to the Lien plus any interest and penalties which in Administrative Agent’s
reasonable judgment may accrue thereon during such contest, or (b) delivers to Administrative Agent
(i) an endorsement to the applicable title policy insuring over the exception created by the Lien
or (ii) evidence that such Lien has been bonded over in form and substance acceptable to
Administrative Agent in its reasonable discretion, within twenty (20) days of written notice by
Administrative Agent to Borrowers of the existence of the Lien). No Lien shall be created upon the
Capital Stock of Parent Borrower or any other Borrower.

7.02. Indebtedness.

     No Borrower shall create, incur, assume or suffer to exist any Indebtedness, except:

     (a) Indebtedness under the Credit Documents;

     (b) Indebtedness of the Borrowers set forth in Schedule 7.02 (and renewals,
refinancings and extensions thereof); provided that (i) the amount of such Indebtedness is
not increased at the time of such refinancing, refunding, renewal or extension except by an amount
equal to a reasonable premium or other reasonable amount paid, and fees and expenses reasonably
incurred, in connection with such refinancing and by an amount equal to any existing commitments
unutilized thereunder and capitalized interest or reserves relating thereto and (ii) the terms
relating to principal amount, amortization, maturity, collateral (if any) and

80

 

subordination (if any), and other material terms taken as a whole, of any such refinancing,
refunding, renewing or extending Indebtedness, and of any agreement entered into and of any
instrument issued in connection therewith, are no less favorable in any material respect to the
Borrowers or the Lenders than the terms of any agreement or instrument governing the Indebtedness
being refinanced, refunded, renewed or extended and the interest rate applicable to any such
refinancing, refunding, renewing or extending Indebtedness does not exceed the then applicable
market interest rate;

     (c) unsecured intercompany Indebtedness of any Borrower to any Credit Party;
provided, that such Indebtedness be expressly subordinated in all respects to the
Obligations on terms reasonably acceptable to the Administrative Agent;

     (d) obligations (contingent or otherwise) of any Borrower or any Subsidiary thereof
existing or arising under any Swap Contract to the extent the same is solely to mitigate the risks
associated with a rise in the Contract Rate hereunder, provided that (i) such obligations
are (or were) entered into by such Person in the ordinary course of business for the purpose of
directly mitigating risks associated with liabilities, commitments, investments, assets, or
property held or reasonably anticipated by such Person, or changes in the value of securities
issued by such Person, and not for purposes of speculation or taking a “market view;” (ii) such
Swap Contract is otherwise in form and substance reasonably satisfactory to the Administrative
Agent, (iii) the aggregate Indebtedness covered by all Secured Pari Swap Contracts does not exceed
$200,000,000, (iv) payment of the obligations under all Secured Subordinated Swap Contracts are
subordinated to the payment of the Obligations (excluding Secured Subordinated Swap Contracts) on
terms satisfactory to the Administrative Agent, (iii) the aggregate Indebtedness covered by all
Secured Pari Swap Contracts does not exceed $200,000,000, (iv) payment of the obligations under all
Secured Subordinated Swap Contracts is subordinated to the payment of, and the Liens securing the
Obligations (excluding Secured Subordinated Swap Contracts) on terms reasonably satisfactory to the
Administrative Agent, and (v) the aggregate Indebtedness covered by all Secured Swap Contracts does
not exceed the aggregate Loans and Commitments hereunder;

     (e) obligations (contingent or otherwise) of any Borrower or any Subsidiary thereof
existing or arising under any Support Obligations of any Credit Party, provided that such
obligations (i) are (or were) entered into by such Person in the ordinary course of business and
(ii) are expressly subordinated in all respects to the Obligations on terms reasonably acceptable
to the Administrative Agent.

     (f) trade payables or other Indebtedness incurred in the ordinary course of business;

     (g) other unsecured Indebtedness in an aggregate principal amount not to exceed $2,500,000
in the aggregate for all Borrowers at any one time outstanding; and

     (h) Guarantees with respect to Indebtedness permitted under clauses (a) through (g) of
this Section 7.02.

7.03. Investments.

     No Borrower shall make any Investments, except:

81

 

     (a) Investments held by any Borrower in the form of cash or Cash Equivalents;

     (b) Investment in any other Credit Party;

     (c) Investments constituting bank deposits made in the ordinary course of business;

     (d) Investments made from funds that could otherwise be distributed from Borrowers
pursuant to the terms of this Credit Agreement;

     (e) Investment constituting Indebtedness that is otherwise permitted hereunder;

     (f) Investments existing as of the Closing Date and set forth in Schedule 7.03;

     (g) Guarantees permitted by Section 7.02;

     (h) acquisitions of personal property in the ordinary course of business to the extent
required to continue to operate the Borrowers’ Businesses in the manner in which they are currently
being operated;

     (i) Investments as contemplated in Section 9.12;

     (j) Investments in Real Property Assets funded with Advances hereunder and/or 100% equity
proceeds in each case subject to the rights of Section 4.03;

     (k) providing tenant improvement loans to Eligible Tenants;

     (l) providing working capital loans to Eligible Tenants so long as the obligation of the
Eligible Tenant to make payments on such loan is subordinated to such Eligible Tenant’s obligation
to make rental payments under its Facility Operating Leases on terms and conditions reasonably
satisfactory to the Administrative Agent; and

     (m) Investments of a nature not contemplated in the foregoing clauses in an amount not to
exceed $2,500,000 in the aggregate for all Borrowers at any time outstanding.

7.04. Fundamental Changes.

     No Credit Party shall merge, dissolve, liquidate, consolidate with or into another Person;
except that so long as no Default exists or would result therefrom, (a) any Borrower may merge or
consolidate with any other Borrower (or any Person which then becomes a Borrower) and (b) any
Consolidated Borrower Party which is not a Credit Party may be merged or consolidated with or into
any Credit Party provided that such Credit Party shall be the continuing or surviving corporation.

7.05. Dispositions.

     The Borrowers shall not make any sale, transfer or other Disposition of (i) any Real Property
Asset, except to the extent permitted pursuant to Section 9.11, 9.12, 9.13,
9.14 or 9.15 hereof; or (ii) any other material assets of the Borrowers unless (A)
such sale, transfer or other disposition is (1) performed in the ordinary course of the Borrowers’
Business or (2) of assets

82

 

that are obsolete, worn out or no longer useful in the Borrower’s Business or (B) the
consideration paid in connection with such other material assets (1) is in cash or Cash
Equivalents, (2) is in an amount not less than the fair market value of the Property disposed of
and (3) does not exceed, in the aggregate during any calendar year (for the all Borrowers and all
such sales, leases, transfers or other dispositions) $500,000. To the extent no Default or Event
of Default has occurred and is continuing, the Administrative Agent shall release any Lien upon any
property sold, leased, transferred or otherwise disposed of in accordance with the provisions of
this Section 7.05. Except in connection with a transaction permitted by Section 9.11,
9.12, 9.13, 9.14 and 9.15, the Parent Borrower shall not, in any
case, transfer, sell, lease, pledge or otherwise dispose of the Capital Stock of the Borrowers held
by it without the prior written consent of the Administrative Agent (which consent may be granted
or withheld in the sole discretion of the Administrative Agent).

7.06. Business Activities.

     No Borrower shall engage in any business activities other than (a) owning, developing,
managing and providing secured financing for real and personal property and similar interests in
leasehold properties which are owned by or net leased to healthcare operators for use as Healthcare
Facilities as a Short Term Operator, (b) providing tenant improvement and working capital loans to
Eligible Tenants or (c) any business activities that are similar, reasonably related, incidental,
ancillary or complementary thereto. Notwithstanding anything contained in this Agreement to the
contrary, no provision of this Agreement shall prohibit the direct and indirect owners of the
Parent Borrower from consummating a public offering of the Capital Securities or from issuing
Capital Securities of the direct and indirect owners of the Parent Borrower to any Person or
otherwise becoming a publicly traded entity and such actions shall not constitute a Default or
Event of Default, provided that the Borrowers are in compliance with the applicable terms
of this Agreement, including the financial covenants set forth in Section 6.11, and the
Consolidated Aviv Parties are in compliance with the financial covenant set forth in Section
6.11(d).

7.07. Transactions with Affiliates and Insiders.

     No Borrower shall, at any time, enter into any transaction of any kind with any Affiliate of
any Borrower, whether or not in the ordinary course of business, other than on fair and reasonable
terms substantially as favorable to such Borrower as would be obtainable by such Borrower at the
time in a comparable arm’s length transaction with a Person other than an Affiliate;
provided that this Section 7.07 shall not prohibit (a) loans and other transactions
by and among the Credit Parties to the extent permitted under this Article VII; (b) any
dividend or distribution not prohibited by Section 6.11(f); (c) the issuance of Equity
Interests not prohibited under this Agreement; (d) the making of any expense reimbursement and
employment, severance and compensation arrangements entered into by any Credit Party with their
respective directors, officers, employees, members of management and consultants in the ordinary
course of business; and (e) the payment of reasonable and customary fees paid to, and indemnities
provided on behalf of, officers, directors, employees or consultants of the Credit Parties or any
direct or indirect parent companies of the Credit Parties.

83

 

7.08. Organization Documents; Fiscal Year.

     No Credit Party shall (a) without the approval of the Administrative Agent in its reasonable
discretion amend, modify or change its organization documents other than minor, technical
amendments not adverse to the Lenders or (b) without the approval of the Administrative Agent
change its fiscal year.

7.09. Ownership of Subsidiaries.

     Except as otherwise permitted under the provisions of this Credit Agreement, (a) no Borrower
shall own any Capital Stock of any other entity; (b) Aviv shall own, directly or indirectly, a
majority of the Capital Stock of the Parent Borrower; (c) no Person other than the Parent Borrower
shall own any Capital Stock of the Borrowers; and (d) no Borrower shall permit, create, incur,
assume or suffer to exist any Lien on any Capital Stock of any Borrower.

7.10. No Further Negative Pledges.

     No Borrower will enter into, assume or become subject to any Negative Pledges or agreement
prohibiting or otherwise restricting the existence of any Lien upon any of its property in favor of
the Administrative Agent (for the benefit of the Lenders) for the purpose of securing the
Obligations, whether now owned or hereafter acquired, or requiring the grant of any security for
any obligation if such property is given as security for the Obligations, except (a) in connection
with any Permitted Lien or any document or instrument governing any Permitted Lien, provided that
any such restriction contained therein relates only to the asset or assets subject to such
Permitted Lien, and (b) pursuant to customary restrictions and conditions contained in any
agreement relating to the sale of any property permitted under Section 7.05, pending the
consummation of such sale.

7.11. Limitation on Restricted Actions.

     The Borrowers will not directly or indirectly, create or otherwise cause or suffer to exist or
become effective any encumbrance or restriction on the ability of any such Person to (a) pay
dividends or make any other distributions to Aviv on its Capital Stock or with respect to any other
interest or participation in, or measured by, its profits, (b) pay any Indebtedness or other
obligation owed to any Credit Party, (c) make loans or advances to any Credit Party, (d) sell,
lease or transfer any of its properties or assets to any Credit Party, or (e) act as a Borrower and
pledge its assets pursuant to the Credit Documents or any renewals, refinancings, exchanges,
refundings or extension thereof, except (in respect of any of the matters referred to in clauses
(a)-(d) above) for such encumbrances or restrictions existing under or by reason of (i) this Credit
Agreement and the other Credit Documents, (ii) applicable Law, (iii) any Lien or any documentation
or instrument governing any Lien permitted under Section 7.01 provided that any such
restriction contained therein relates only to the asset or assets subject to such Lien, (v)
customary restrictions and conditions contained in any agreement relating to the sale of any Real
Property Assets permitted under Section 7.05, pending the consummation of such sale or (vi)
customary restrictions and conditions contained in any joint ownership agreement such as a
partnership agreement or joint venture agreement.

84

 

7.12. Accounting Changes.

     No Borrower shall make any change in (a) accounting policies or reporting practices, except as
required by GAAP, or (b) fiscal year.

ARTICLE VIII

EVENTS OF DEFAULT AND REMEDIES

8.01. Events of Default.

     Any of the following shall constitute an Event of Default (“Event of Default”):

     (a) Non Payment. The Borrowers or any other Credit Party fails to pay (i) when
and as required to be paid herein, any amount of principal of any Loan, (ii) within three (3)
Business Days after the same becomes due, any interest on any Loan or any fee due hereunder, or
(iii) within five (5) Business Days after the earlier of (A) a Responsible Officer becoming aware
that the same has become due or (B) written notice from the Administrative Agent to the Borrowers,
any other fee payable herein or any other amount payable herein or under any other Credit Document
becomes due; or

     (b) Specific Covenants. The Borrowers (or Credit Parties, as applicable) fail to
perform or observe any term, covenant or agreement contained in any of Sections 6.03, 6.07
(provided that with respect to property level insurance provided by Eligible Tenants such failure
relates to two or more Real Property Assets), 6.10, 6.11, 6.14, or ArticleVII; or

     (c) Other Defaults. (i) The Borrowers (or Credit Parties, as applicable) fail to
perform or observe any term, covenant or agreement contained in any of Sections 6.01 or
6.02 and such failure continues for five (5) days or (ii) any Credit Party fails to perform
or observe any other covenant or agreement (not specified in subsection (a), (b) or (c)(i) above)
contained in any Credit Document on its part to be performed or observed and such failure continues
for thirty (30) days after the earlier of (i) a Responsible Officer becoming aware of such default
or (ii) written notice thereof by the Administrative Agent to the Borrower Representative (or, if
such failure cannot be reasonably cured within such period, sixty (60) days, so long as the
applicable Credit Party has diligently commenced such cure and is diligently pursuing completion
thereof); or

     (d) Representations and Warranties. Any representation, warranty, certification
or statement of fact made or deemed made by the Credit Parties and contained in this Credit
Agreement, in any other Credit Document, or in any document delivered in connection herewith or
therewith shall be incorrect or misleading in any material respect when made or deemed made
provided that an Event of Default will not exist under this Section 8.01(d) if any
representations and warranties which are made on Advances subsequent to the Closing Date are
incorrect or misleading if, within ten (10) Business Days after the occurrence thereof, the
Borrowers cure or correct the facts or circumstances which cause such representations and
warranties to be incorrect or misleading; or

     (e) Cross Default. (i) Any Credit Party (A) fails to perform or observe (beyond
the applicable grace or cure period with respect thereto, if any) any Contractual Obligation if
such

85

 

failure could reasonably be expected to have a Material Adverse Effect, or (B) fails to make
any payment when due (whether by scheduled maturity, required prepayment, acceleration, demand, or
otherwise and beyond the applicable grace or cure period with respect thereto, if any) in respect
of any Indebtedness (other than Indebtedness hereunder and Indebtedness under Swap Contracts) or
otherwise fails to observe or perform any other agreement or condition relating to any such
Indebtedness or contained in any instrument or agreement evidencing, securing or relating thereto,
or any other event occurs, the effect of which default or other event is to cause, or to permit the
holder or holders of such Indebtedness (or a trustee or agent on behalf of such holder or holders)
to cause, with the giving of notice if required, such Indebtedness to be demanded or to become due
or to be repurchased, prepaid, defeased or redeemed (automatically or otherwise), or an offer to
repurchase, prepay, defease or redeem such Indebtedness to be made, prior to its stated maturity,
or cash collateral in respect thereof to be demanded, in each case to the extent such Indebtedness
or other obligation is in an amount (including undrawn committed or available amounts and including
amounts owing to all creditors under any combined or syndicated credit arrangement) if any such
failure or default individually or in the aggregate could reasonably be expected to have a Material
Adverse Effect; (ii) Indebtedness (other than Indebtedness hereunder and Indebtedness under Swap
Contracts) of any Credit Party in an aggregate principal amount of more than $2,500,000 is
accelerated or (iii) there occurs under any Swap Contract an Early Termination Date (as defined in
such Swap Contract) resulting from (A) any event of default which occurs and is continuing under
such Swap Contract as to which a Borrower is the Defaulting Party (as defined in such Swap
Contract) after expiration of any applicable grace or cure periods or (B) any Termination Event (as
so defined) where all Transactions (as so defined) are Affected Transactions (as so defined) under
such Swap Contract as to which a Borrower is an Affected Party (as so defined) and, in either
event, the Swap Termination Value owed by such Borrower as a result thereof could reasonably be
expected to have a Material Adverse Effect; or

     (f) Insolvency Proceedings, Etc. Aviv, the Parent Borrower or any other two or
more Borrowers institutes or consents to the institution of any proceeding under any Debtor Relief
Law, or makes an assignment for the benefit of creditors; or applies for or consents to the
appointment of any receiver, trustee, custodian, conservator, liquidator, rehabilitator or similar
officer for it or for all or any material part of its properties; or any receiver, trustee,
custodian, conservator, liquidator, rehabilitator or similar officer is appointed without the
application or consent of such Credit Party Person and the appointment continues undischarged or
unstayed for ninety (90) calendar days; or any proceeding under any Debtor Relief Law relating to
any Credit Party or Aviv or to all or any material part of its property is instituted without the
consent of such Credit Party Person and continues undismissed or unstayed for ninety (90) calendar
days, or an order for relief is entered in any such proceeding; or

     (g) Inability to Pay Debts; Attachment. (i) Aviv, the Parent Borrower or any
other two or more Borrowers becomes unable or admits in writing its inability or fails generally to
pay its debts as they become due, or (ii) any writ or warrant of attachment or execution or similar
process is issued or levied against all or any material part of the properties of any of Aviv, the
Parent Borrower or any other two or more Borrowers and is not released, vacated or fully bonded
within ninety (90) days after its issue or levy; or

86

 

     (h) Judgments. There is entered against any Credit Party (i) any one or more
final judgments or orders for the payment of money in an aggregate amount (as to all such judgments
or orders) if any judgment individually or in the aggregate could reasonably be expected to have a
Material Adverse Effect; (to the extent not covered by independent third party insurance as to
which the insurer has been notified of the claim and does not dispute coverage), or (ii) any one or
more non monetary final judgments that have, or could reasonably be expected to have, individually
or in the aggregate, a Material Adverse Effect and, in either case, (A) enforcement proceedings are
commenced by any creditor upon such judgment or order, or (B) there is a period of ten (10)
consecutive days during which a stay of enforcement of such judgment, by reason of a pending appeal
or otherwise, is not in effect; or

     (i) ERISA. (i) An ERISA Event occurs with respect to a Pension Plan or
Multiemployer Plan which has resulted or could reasonably be expected to result in liability of a
Credit Party under Title IV of ERISA to the Pension Plan, Multiemployer Plan or the PBGC in an
aggregate amount in excess of the Threshold Amount, or (ii) a Credit Party or any ERISA Affiliate
fails to pay when due, after the expiration of any applicable grace period, any installment payment
with respect to its withdrawal liability under Section 4201 of ERISA under a Multiemployer Plan in
an aggregate amount in excess of the Threshold Amount; or

     (j) Invalidity of Credit Documents; Agreement of Principal. (i) Any Credit
Document, at any time after its execution and delivery and for any reason other than as expressly
permitted hereunder or as a result of satisfaction in full of all the Obligations or as a result of
the Administrative Agent’s failure to record and/or file where and/or when appropriate any
Collateral Documents or any continuation statements, ceases to be in full force and effect; or any
Credit Party contests in any manner the validity or enforceability of any Credit Document; or any
Credit Party denies that it has any or further liability or obligation under any Credit Document,
or purports to revoke, terminate or rescind any Credit Document; (ii) the Agreement of Principal or
Hazardous Materials Indemnity Agreement shall cease to be in full force and effect, or any
Guarantor hereunder shall deny or disaffirm such Guarantor’s obligations under such Agreement of
Principal or such Hazardous Materials Indemnity Agreement, or any Guarantor shall default in the
due performance or observance of any term, covenant or agreement on its part to be performed or
observed pursuant to the Agreement of Principal or Hazardous Materials Indemnity Agreement; or
(iii) any Lien shall fail to be a first priority, perfected Lien on a material portion of the
Collateral, taken as a whole; provided that if any event occurs under in this Section
8.01(j), no Event of Default shall be deemed to have occurred so long as, within three (3) Business
Days after a request from the Administrative Agent, the Borrowers execute and deliver to the
Administrative Agent any reasonable documentation requested by the Administrative Agent which is
necessary to cure such defect; or

     (k) Change of Control. There occurs any Change of Control.

8.02. Remedies Upon Event of Default.

     If any Event of Default occurs and is continuing, the Administrative Agent shall, at the
request of, or may, with the consent of, the Required Lenders, take any or all of the following
actions:

87

 

     (a) declare the commitment of each Lender to make Advances to be terminated, whereupon
such commitments and obligation shall be terminated;

     (b) declare the unpaid principal amount of all Loans, all interest accrued and unpaid
thereon, and all other amounts owing or payable hereunder or under any other Credit Document (other
than Secured Swap Contracts) to be immediately due and payable, without presentment, demand,
protest or other notice of any kind, all of which are hereby expressly waived by the Borrowers; and

     (c) exercise on behalf of itself and the Lenders all rights and remedies available to it
and the Lenders under the Credit Documents or applicable law;

provided, however, that upon the occurrence of an Event of Acceleration, the obligation of each
Lender to make Advances shall automatically terminate, the unpaid principal amount of the Loan and
all interest and other amounts as aforesaid shall automatically become due and payable without
further act of the Administrative Agent or any Lender.

8.03. Application of Funds.

     After the exercise of remedies in accordance with the provisions of Section 8.02 (or
after the Loans have automatically become immediately due and payable as set forth in the proviso
to Section 8.02), any amounts received on account of the Obligations shall be applied by
the Administrative Agent in the following order:

     First, to payment of that portion of the Obligations constituting fees, indemnities,
expenses and other amounts (including Attorney Costs and amounts payable under Article III)
payable to the Administrative Agent in its capacity as such or incurred by Administrative Agent in
the exercise of its rights and remedies under this Agreement;

     Second, to payment of that portion of the Obligations constituting fees, indemnities
and other amounts (other than principal and interest) payable to the Lenders (including Attorney
Costs and amounts payable under Article III), ratably among the Lenders in proportion to
the amounts described in this clause Second payable to them;

     Third, to payment of that portion of the Obligations constituting accrued and unpaid
interest on the Loans and fees, premiums and scheduled periodic payments, and any interest accrued
thereon, due under any Secured Pari Swap Contract, ratably among the Lenders and, in the case of
such Secured Pari Swap Contracts, the applicable Secured Swap Counterparties in proportion to the
respective amounts described in this clause Third payable to them;

     Fourth, to (a) payment of that portion of the Obligations constituting unpaid
principal of the Loan, (b) payment of breakage, termination or other payments, and any interest
accrued thereon, due under any Secured Pari Swap Contract, and (c) payments of amounts due under
any Treasury Management Agreement between any Credit Party and any Lender, or any Affiliate of a
Lender, ratably among such parties in proportion to the respective amounts described in this clause
Fourth held by them;

88

 

     Fifth, to payment of that portion of the Obligations constituting any interest, due
under any Secured Subordinated Swap Contract, ratably among the applicable Secured Swap
Counterparties in proportion to the respective amounts described in this clause Fifth payable to
them;

     Sixth, to payment of breakage, termination or other payments, and any interest accrued
thereon, due under any Secured Subordinated Swap Contract, ratably among such parties in proportion
to the respective amounts described in this clause Sixth held by them;

     Last, the balance, if any, after all of the Obligations have been indefeasibly paid in
full, to the Borrowers or as otherwise required by Law.

8.04. Administrative Agent’s Right to Perform the Obligations.

     Upon the occurrence of an Event of Default and during continuation thereof, then, without
waiving or releasing any other right, remedy or recourse the Administrative Agent or Lenders may
have because of such Event of Default, the Administrative Agent may (but shall not be obligated to)
make such payment or perform any act required of the Borrowers under this Agreement for the account
of and at the expense of the Borrowers, and shall have the right to enter upon the Real Property
Assets for such purpose and to take all such action thereon and with respect to the Real Property
Assets as it may deem necessary or appropriate. The Borrowers shall indemnify, defend and hold the
Administrative Agent and Lenders harmless from and against any and all losses, liabilities, claims,
damages, expenses, obligations, penalties, actions, judgments, suits, costs, or disbursements of
any kind or nature whatsoever, including reasonable attorneys’ fees, incurred or accruing by reason
of any acts performed by the Administrative Agent pursuant to the provisions of this Section
8.04, including those arising from the joint, concurrent, or comparative negligence of the
Administrative Agent, except as a result of the Administrative Agent’s and/or Lenders’ gross
negligence or willful misconduct. All sums paid by the Administrative Agent pursuant to this
Section 8.04, and all other sums expended by the Administrative Agent to which it shall be
entitled to be indemnified pursuant to this Section 8.04, together with interest thereon at
the Default Rate from the date of such payment or expenditure until paid, shall constitute
additions to the Obligations, shall be secured by the Credit Documents and shall be paid by the
Borrowers to the Administrative Agent upon demand.

ARTICLE IX

ADMINISTRATIVE AGENT

9.01. Appointment and Authorization of Administrative Agent.

     Each Lender hereby irrevocably appoints, designates and authorizes the Administrative Agent to
take such action on its behalf under the provisions of this Credit Agreement and each other Credit
Document and to exercise such powers and perform such duties as are expressly delegated to it by
the terms of this Credit Agreement or any other Credit Document, together with such powers as are
reasonably incidental thereto. Notwithstanding any provision to the contrary contained elsewhere
herein or in any other Credit Document, the Administrative Agent shall not have any duties or
responsibilities, except those expressly set forth herein, nor shall the Administrative Agent have
or be deemed to have any fiduciary relationship with any Lender or

89

 

participant, and no implied covenants, functions, responsibilities, duties, obligations or
liabilities shall be read into this Credit Agreement or any other Credit Document or otherwise
exist against the Administrative Agent. Without limiting the generality of the foregoing sentence,
the use of the term “agent” herein and in the other Credit Documents with reference to the
Administrative Agent is not intended to connote any fiduciary or other implied (or express)
obligations arising under agency doctrine of any applicable Law. Instead, such term is used merely
as a matter of market custom, and is intended to create or reflect only an administrative
relationship between independent contracting parties.

9.02. Delegation of Duties.

     The Administrative Agent may execute any of its duties under this Credit Agreement or any
other Credit Document by or through agents, employees or attorneys-in-fact and shall be entitled to
advice of counsel and other consultants or experts concerning all matters pertaining to such
duties. The Administrative Agent shall not be responsible for the negligence or misconduct of any
agent or attorney-in-fact that it selects in the absence of gross negligence or willful misconduct.

9.03. Liability of Administrative Agent.

     No Agent-Related Person shall (a) be liable for any action taken or omitted to be taken by any
of them under or in connection with this Credit Agreement or any other Credit Document or the
transactions contemplated hereby (except for its own gross negligence or willful misconduct in
connection with its duties expressly set forth herein), or (b) be responsible in any manner to any
Lender or participant for any recital, statement, representation or warranty made by any Credit
Party or any officer thereof, contained herein or in any other Credit Document, or in any
certificate, report, statement or other document referred to or provided for in, or received by the
Administrative Agent under or in connection with, this Credit Agreement or any other Credit
Document, or the validity, effectiveness, genuineness, enforceability or sufficiency of this Credit
Agreement or any other Credit Document, or for any failure of any Credit Party or any other party
to any Credit Document to perform its obligations hereunder or thereunder. No Agent-Related Person
shall be under any obligation to any Lender or participant to ascertain or to inquire as to the
observance or performance of any of the agreements contained in, or conditions of, this Credit
Agreement or any other Credit Document, or to inspect the properties, books or records of any
Credit Party or any Affiliate thereof.

9.04. Reliance by Administrative Agent.

     (a) The Administrative Agent shall be entitled to rely, and shall be fully protected in
relying, upon any writing, communication, signature, resolution, representation, notice, consent,
certificate, affidavit, letter, telegram, facsimile, telex or telephone message, electronic mail
message, statement or other document or conversation believed by it to be genuine and correct and
to have been signed, sent or made by the proper Person or Persons, and upon advice and statements
of legal counsel (including counsel to any Credit Party), independent accountants and other experts
selected by the Administrative Agent. The Administrative Agent shall be fully justified in failing
or refusing to take any action under any Credit Document unless it shall first receive such advice
or concurrence of the Required Lenders as it deems appropriate and, if it so

90

 

requests, it shall first be indemnified to its satisfaction by the Lenders against any and all
liability and expense that may be incurred by it by reason of taking or continuing to take any such
action. The Administrative Agent shall in all cases be fully protected in acting, or in refraining
from acting, under this Credit Agreement or any other Credit Document in accordance with a request
or consent of the Required Lenders (or such greater number of Lenders as may be expressly required
hereby in any instance) and such request and any action taken or failure to act pursuant thereto
shall be binding upon all the Lenders.

     (b) For purposes of determining compliance with the conditions specified in Section
4.01, each Lender that has signed this Credit Agreement shall be deemed to have consented to,
approved or accepted or to be satisfied with, each document or other matter required thereunder to
be consented to or approved by or acceptable or satisfactory to a Lender unless the Administrative
Agent shall have received notice from such Lender prior to the proposed Closing Date specifying its
objection thereto.

9.05. Notice of Default.

     The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of
any Default or Event of Default, except with respect to defaults in the payment of principal,
interest and fees required to be paid to the Administrative Agent for the account of the Lenders,
unless the Administrative Agent shall have received written notice from a Lender or any Borrower
referring to this Credit Agreement, describing such Default or Event of Default and stating that
such notice is a “notice of default.” The Administrative Agent will notify the Lenders promptly of
its receipt of any such notice and/or upon learning that there is a Default or Event of Default.
The Administrative Agent shall take such action with respect to such Default or Event of Default as
may be directed by the Required Lenders in accordance herewith; provided, however, that
unless and until the Administrative Agent has received any such direction, the Administrative Agent
may (but shall not be obligated to) take such action, or refrain from taking such action, with
respect to such Default or Event of Default as it shall deem advisable or in the best interest of
the Lenders.

9.06. Credit Decision; Disclosure of Confidential Information by Administrative Agent.

     Each Lender acknowledges that no Agent-Related Person has made any representation or warranty
to it, and that no act by the Administrative Agent hereafter taken, including any consent to and
acceptance of any assignment or review of the affairs of any Credit Party or any Affiliate thereof,
shall be deemed to constitute any representation or warranty by any Agent-Related Person to any
Lender as to any matter, including whether Agent-Related Persons have disclosed material
information in their possession (in each case, except to the extent the Administrative Agent has
confirmed to any Lender in writing the satisfaction of conditions to funding as of the Closing
Date). Each Lender represents to the Administrative Agent that it has, independently and without
reliance upon any Agent-Related Person and based on such documents and information as it has deemed
appropriate, made its own appraisal of and investigation into the business, prospects, operations,
property, financial and other condition and creditworthiness of the Credit Parties and their
respective Subsidiaries, and all applicable bank or other regulatory Laws relating to the
transactions contemplated hereby, and made its own decision to enter into this Credit Agreement and
to extend credit to the Borrowers and the other Credit Parties

91

 

hereunder. Each Lender also represents that it will, independently and without reliance upon
any Agent-Related Person and based on such documents and information as it shall deem appropriate
at the time, continue to make its own credit analysis, appraisals and decisions in taking or not
taking action under this Credit Agreement and the other Credit Documents, and to make such
investigations as it deems necessary to inform itself as to the business, prospects, operations,
property, financial and other condition and creditworthiness of the Borrowers and the other Credit
Parties. Except for notices, reports and other documents expressly required to be furnished to the
Lenders by the Administrative Agent herein, the Administrative Agent shall not have any duty or
responsibility to provide any Lender with any credit or other information concerning the business,
prospects, operations, property, financial and other condition or creditworthiness of any of the
Credit Parties or any of their respective Affiliates that may come into the possession of any
Agent-Related Person.

9.07. Indemnification of Administrative Agent.

     Whether or not the transactions contemplated hereby are consummated, the Lenders shall
indemnify upon demand each Agent-Related Person (to the extent not reimbursed by or on behalf of
any Credit Party and without limiting the obligation of any Credit Party to do so), pro rata, and
hold harmless each Agent-Related Person from and against any and all Indemnified Liabilities
incurred by it; provided, however, that no Lender shall be liable for the payment to any
Agent-Related Person of any portion of such Indemnified Liabilities to the extent determined in a
final, nonappealable judgment by a court of competent jurisdiction to have resulted from such
Agent-Related Person’s own gross negligence or willful misconduct; provided, however, that
no action taken in accordance with the directions of the Required Lenders shall be deemed to
constitute gross negligence or willful misconduct for purposes of this Section. Without limitation
of the foregoing, each Lender shall reimburse the Administrative Agent upon demand for its ratable
share of any costs or out-of-pocket expenses (including Attorney Costs) incurred by the
Administrative Agent in connection with the preparation, execution, delivery, administration,
modification, amendment or enforcement (whether through negotiations, legal proceedings or
otherwise) of, or legal advice in respect of rights or responsibilities under, this Credit
Agreement, any other Credit Document, or any document contemplated by or referred to herein, to the
extent that the Administrative Agent is not reimbursed for such expenses by or on behalf of the
Borrowers or any other Credit Party. The undertaking in this Section shall survive termination of
the Aggregate Commitments, the payment of all other Obligations and the resignation of the
Administrative Agent.

9.08. Administrative Agent in its Individual Capacity.

     GECC and its Affiliates may make loans to, issue letters of credit for the account of, accept
deposits from, acquire equity interests in and generally engage in any kind of banking, trust,
financial advisory, underwriting or other business with each of the Credit Parties and their
respective Affiliates as though GECC were not the Administrative Agent hereunder and without notice
to or consent of the Lenders. The Lenders acknowledge that, pursuant to such activities, GECC or
its Affiliates may receive information regarding any Credit Party or its Affiliates (including
information that may be subject to confidentiality obligations in favor of such Credit Party or
such Affiliate) and acknowledge that the Administrative Agent shall be under no obligation to
provide such information to them. With respect to its Extension of Credit, GECC

92

 

shall have the same rights and powers under this Credit Agreement as any other Lender and may
exercise such rights and powers as though it were not the Administrative Agent, and the terms
“Lender” and “Lenders” include GECC in its individual capacity.

9.09. Successor Administrative Agent.

     The Administrative Agent may resign as Administrative Agent “for cause” upon thirty (30) days’
notice to the Lenders and the Borrower Representative. If the Administrative Agent resigns or is
replaced as set forth below under this Credit Agreement, the Required Lenders shall appoint from
among the Lenders a successor administrative agent for the Lenders, which successor administrative
agent shall be consented to by the Borrower Representative at all times other than during the
existence of an Event of Default (which consent of the Borrower Representative shall not be
unreasonably withheld or delayed). If no successor administrative agent is appointed prior to the
effective date of the resignation of the Administrative Agent, the Administrative Agent may
appoint, after consulting with the Lenders and the Borrower Representative, a successor
administrative agent from among the Lenders. Upon the acceptance of its appointment as successor
administrative agent hereunder, the Person acting as such successor administrative agent shall
succeed to all the rights, powers and duties of the retiring Administrative Agent and the term
“Administrative Agent” thereafter shall mean such successor administrative agent and the retiring
Administrative Agent’s appointment, powers and duties as Administrative Agent shall be terminated
without any other or further act or deed on the part of such retiring Administrative Agent or any
other Lender. After any retiring Administrative Agent’s resignation hereunder as Administrative
Agent, the provisions of this Article IX and Sections 10.04 and 10.05 shall
inure to its benefit as to any actions taken or omitted to be taken by it while it was
Administrative Agent under this Credit Agreement. If no successor administrative agent has
accepted appointment as Administrative Agent by the date thirty (30) days following a retiring
Administrative Agent’s notice of resignation, the retiring Administrative Agent’s resignation shall
nevertheless thereupon become effective and the Lenders shall perform all of the duties of the
Administrative Agent hereunder until such time, if any, as the Required Lenders appoint a successor
agent as provided for above. For purposes of this Section 9.09, “for cause” shall mean (a)
to the extent required by any legislative or regulatory authority purporting to have jurisdiction
over it (including any self-regulatory authority, such as the National Association of Insurance
Commissioners), (b) to the extent required by applicable laws or regulations or (c) to the extent
required as a corporate policy matter.

     Notwithstanding the foregoing, Administrative Agent may be removed as Administrative Agent
upon the request of all the Lenders (other than Affiliates of Administrative Agent) if (a) it has
committed actions constituting gross negligence or willful misconduct under this Agreement or (b)
fails to hold any portion of the Aggregate Loan Commitments.

9.10. Administrative Agent May File Proofs of Claim.

     In case of the pendency of any receivership, insolvency, liquidation, bankruptcy,
reorganization, arrangement, adjustment, composition or other judicial proceeding relative to any
Credit Party, the Administrative Agent (irrespective of whether the principal of the Loan shall
then be due and payable as herein expressed or by declaration or otherwise and irrespective of

93

 

whether the Administrative Agent shall have made any demand on the Borrowers) shall be
entitled and empowered, by intervention in such proceeding or otherwise:

     (a) to file and prove a claim for the whole amount of the principal and interest owing and
unpaid in respect of the Loan and all other Obligations (other than obligations under Swap
Contracts to which the Administrative Agent is not a party) that are owing and unpaid and to file
such other documents as may be necessary or advisable in order to have the claims of the Lenders
and the Administrative Agent (including any claim for the reasonable compensation, expenses,
disbursements and advances of the Lenders and the Administrative Agent and their respective agents
and counsel and all other amounts due the Lenders and the Administrative Agent under Section
2.06 and 10.04) allowed in such judicial proceeding; and

     (b) to collect and receive any monies or other property payable or deliverable on any such
claims and to distribute the same;

and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official
in any such judicial proceeding is hereby authorized by each Lender to make such payments to the
Administrative Agent and, in the event that the Administrative Agent shall consent to the making of
such payments directly to the Lenders, to pay to the Administrative Agent any amount due for the
reasonable compensation, expenses, disbursements and advances of the Administrative Agent and its
agents and counsel, and any other amounts due the Administrative Agent under Sections 2.06
and 10.04.

     Nothing contained herein shall be deemed to authorize the Administrative Agent to authorize or
consent to or accept or adopt on behalf of any Lender any plan of reorganization, arrangement,
adjustment or composition affecting the Obligations or the rights of any Lender or to authorize the
Administrative Agent to vote in respect of the claim of any Lender in any such proceeding.

9.11. Collateral and Guaranty Matters.

     The Lenders irrevocably authorize the Administrative Agent and the Administrative Agent shall,
release any guarantor from its obligations under its guaranty or any Lien granted to or held by the
Administrative Agent under any Credit Document (i) upon termination of the Aggregate Revolving
Commitments and payment in full of all Obligations (other than contingent indemnification
obligations), (ii) on any property (including equity interests) that is transferred or to be
transferred as part of or in connection with any Disposition permitted hereunder or under any other
Credit Document (including in connection with the Bond Financing), any Involuntary Disposition or
any release or replacement of any Real Property Asset permitted in accordance with Section
9.12, 9.13, 9.14 and 9.15 or (iii) as approved in accordance with
Section 10.01.

     Upon request by the Administrative Agent at any time, the Required Lenders will confirm in
writing the Administrative Agent’s authority to release its interest in particular types or items
of property, or to release any Guarantor from its obligations under the Guaranty, pursuant to this
Section 9.11.

94

 

9.12. Substitutions/Releases/Additions of Real Property Assets.

     (a) The Borrowers may substitute for existing Real Property Assets constituting
Collateral, real property assets not constituting Collateral (each a “New Real Property Asset”)
from the Liens and security interests of the Administrative Agent hereunder and under the
Collateral Documents relating thereto and all Obligations hereunder and under the Collateral
Documents so long as no such substitution (which substitution may consist of one or more Real
Property Assets and one or more New Real Property Assets) under this Section 9.12(a) is
made more often than two (2) times in any twelve (12) month period and each of the following
conditions is satisfied:

     (i) the applicable Borrower shall deliver to the Administrative Agent, not less
than five (5) Business Days prior to the date of such requested substitution a written
request for substitution of the applicable Real Property Asset and a reasonably satisfactory
description of the New Real Property Asset;

     (ii) a Responsible Officer or the applicable Borrower shall deliver, together with
such request for release, a pro forma Compliance Certificate showing that, on a pro forma
basis, the Debt Yield (Borrower Parties) after giving effect to the substitution is equal to
or greater than the Debt Yield (Borrower Parties) immediately prior to giving effect to such
substitution; provided, that Borrowers may deliver any item or items specified in
Section 9.12(c) hereof in order to satisfy the requirement set forth in this
Section 9.12(a)(ii);

     (iii) a Responsible Officer or any Borrower shall certify in writing to the
Administrative Agent that no Default or Event of Default shall exist immediately after
giving effect to the applicable substitution;

     (iv) the Administrative Agent shall have received evidence, acceptable to it in its
reasonable discretion that the matters set forth in such request, Compliance Certificate and
certification are true and correct in all material respects, and, to the extent all such
conditions to substitution are satisfied, the Administrative Agent will, at the Borrowers’
expense, within five (5) Business Days of the satisfaction of the conditions set forth in
this Section 9.12(a), deliver to the applicable Borrower such documentation as is
reasonably necessary to evidence the release of the Administrative Agent’s security
interest, if any, in the released Real Property Asset(s) and release from all other
Obligations all at the reasonable cost and expense of such applicable Borrower;

     (v) the Administrative Agent shall have received, in form and substance reasonably
satisfactory to the Administrative Agent, each of the Real Property Asset Deliverables with
respect to each New Real Property Asset(s) and a copy of the executed lease with the
Eligible Tenant for each such New Real Property Asset(s) and if the owner of such New Real
Property Asset is not then a Borrower, an executed Borrower Joinder Agreement; and

95

 

     (vi) unless otherwise approved by the Required Lenders, no more than $25,000,000 of
the Real Property Assets (determined based on the most recent appraisals available) may be
substituted in any single substitution transaction.

     If the applicable Borrower satisfies the terms of this Section 9.12(a), then the
Lenders shall provide a Release and/or termination of security interest for the Real Property
Assets and/or equity interests in such Borrower being released hereunder as part of the
substitution.

     (b) The Borrowers may release (each of the following shall be referred to herein as a
“Release”) any one or more Real Property Assets and/or equity interest of a Borrower (any such Real
Property Asset for which a Release is obtained being referred to herein as a “Release Project” and
collectively, the “Release Projects”) from the Liens and security interests of the Administrative
Agent hereunder and under the Collateral Documents relating thereto and all Obligations hereunder
and under the Collateral Documents (for the avoidance of doubt, Releases may be accomplished by a
disposition of a Real Property Asset or disposition of equity interests in a Borrower) so long as
(i) no less than four (4) Real Property Assets remain subject to the Loan, (ii) the outstanding
balance of the Loan is not less than $25,000,000, and (iii) each of the following conditions is
satisfied:

     (A) the applicable Borrower shall deliver to the Administrative Agent, not less
than ten (10) Business Days prior to the date of such requested Release a written request
for Release of the applicable Real Property Asset;

     (B) the applicable Borrower shall deliver, together with such request for Release,
a pro forma Compliance Certificate showing that, on a pro forma basis, (1) the Debt Yield
(Borrower Parties) is equal to or greater than 18.5% after giving effect to the Release;
provided, that Borrowers may deliver any item or items specified in Section
9.12(c) hereof in order to satisfy the requirement set forth in this Section
9.12(b)(iii)(B)(1) and (2) the Debt Service Coverage Ratio (Borrower Parties) after
giving effect to such Release shall be equal to or greater than 1.50 to 1.00;

     (C) a Responsible Officer or any Borrower shall certify in writing to the
Administrative Agent that no Default or Event of Default shall exist immediately after
giving effect to the applicable Release; and

     (D) the amount to be paid by the Borrowers to the Administrative Agent for such
Release Project (any such amount a “Release Price”) shall be an amount equal to at least one
hundred and ten percent (110%) of the Allocated Loan Value of such Release Project (but the
“Release Price” for a Release obtained pursuant to a Bond Financing as specified in
Section 9.13 shall be only one hundred percent (100%) of the Allocated Loan Amount)
plus, to the extent applicable, (1) interest accrued and unpaid on the principal balance of
the Loan to and including the effective date of such Release and (2) the pro rata portion
of any Prepayment Premium, breakage amounts, if any, under Section 3.05 or any other
fee due with respect to such Release Project(s); provided, that there shall be no
Prepayment Premium due in connection with Releases obtained pursuant to Sections
9.12(a), 9.13 or 9.14;

96

 

     (E) the Borrowers shall have paid to the Administrative Agent the amounts set forth
in Section 9.12(b)(iii)(D) above as well as reasonable out-of-pocket fees and
expenses, including reasonable attorneys’ fees and expenses, incurred in connection with
such Release; and

     (F) the Administrative Agent shall have received evidence, acceptable to it in its
reasonable discretion that the matters set forth in such request, Compliance Certificate and
certification are true and correct in all material respects, and, to the extent all such
conditions to release are satisfied, the Administrative Agent will, at the Borrowers’
expense, promptly and in any event within five (5) Business Days of the satisfaction of the
conditions set forth in this Section 9.12(b), deliver to the applicable Borrower
such documentation as is reasonably necessary to evidence the release of the Administrative
Agent’s security interest, if any, in the Released Property and release from all other
Obligations all at the reasonable cost and expense of such applicable Borrower.

     (c) In the event that, (i) after giving effect to a substitution, the condition set forth
in Section 9.12(a)(ii) will not be satisfied or (ii) after giving effect to a Release, the
condition set forth in Section 9.12(b)(iii)(B)(1) or Section 9.12(b)(iii)(B)(2)
will not be satisfied, the Borrowers may take any one or more of the below actions in order to
satisfy the respective requirement set forth in Section 9.12(a)(ii), (b)(iii)(B)(1)
or (b)(iii)(B)(2), as applicable:

     (i) deposit cash collateral with the Administrative Agent in an amount sufficient
(for calculation purposes such deposited cash collateral shall be deemed to reduce the
outstanding balance of the Loans on such date) to comply with the Debt Yield (Borrower
Parties) requirement set forth in Section 9.12(a)(ii) or (b)(iii)(B)(1) or
the Debt Service Coverage Ratio (Borrower Parties) requirement set forth in Section
9.12(b)(iii)(B)(2), respectively; provided, that so long as no Default has
occurred and is continuing, the Administrative Agent shall release such cash collateral upon
the Consolidated Borrower Parties obtaining a Debt Yield (Borrower Parties) that meets the
requirements of Section 9.12(a)(ii) or (b)(iii)(B)(1) or obtaining a Debt
Service Coverage Ratio (Borrower Parties) that meets the requirements of Section
9.12(b)(iii)(B)(2), respectively; provided, further, that if a Event of Default
has occurred and is continuing, the Administrative Agent may (A) hold such cash collateral
even if the Consolidated Borrower Parties obtain a Debt Yield (Borrower Parties) that meets
the requirements of Section 9.12(a)(ii) or (b)(iii)(B)(1), respectively,
and/or (B) apply such cash collateral to prepay the Loans pursuant to Section 2.04
of this Agreement;

     (ii) add one or more Real Property Assets to the Collateral under this Loan
Agreement (each, an “Additional Collateral Property”) so long as the Administrative Agent
shall have received, in form and substance reasonably satisfactory to the Administrative
Agent and prior to the proposed substitution or Release set forth in Section 9.12(a)
or (b), respectively, each of the Real Property Asset Deliverables with respect to
each Additional Collateral Property and a copy of the executed lease with the Eligible
Tenant for each Additional Collateral Property; and/or

     (iii) prepay the Loan in part pursuant to the requirements set forth in this
Agreement in an amount sufficient to comply with (A) the Debt Yield (Borrower Parties)

97

 

requirement set forth in Section 9.12(a)(ii) or (b)(iii)(B)(1) or (B)
the Debt Service Coverage Ratio (Borrower Parties) requirement set forth in Section
9.12(b)(iii)(B)(2).

     (d) Whenever the Lenders are required to provide a Release (including a termination of a
security interest) under this Agreement, the Lenders shall endeavor to provide such Release
promptly and, to the extent the Release is being requested in connection with the permitted sale or
transfer of a Real Property Asset or the equity interest in a Borrower, provided the Administrative
Agent has received at least ten (10) Business Days prior written notice of the request for the
Release, the Lenders shall use reasonable efforts to coordinate the delivery of the Release with
the closing of such sale or transfer.

9.13. Releases of Real Property Assets upon Repayment from Bond Financing.

     Upon repayment of the Loans from the Bond Financing in accordance with Section 2.04(d) hereof,
the Borrowers shall have the right to obtain Releases from the Liens and security interests of the
Administrative Agent hereunder and under the Collateral Documents relating thereto and all
Obligations hereunder and under the Collateral Documents so long as (i) no less than four (4) Real
Property Assets remain subject to the Loan, (ii) the outstanding balance of the Loan is not less
than $25,000,000, and (iii) satisfaction of each of the conditions set forth in Section 9.12(b)
above.

9.14. Releases of Unimproved Properties.

     As of the Closing Date, certain of the Borrowers own the Unimproved Properties which will be
subject to Mortgage Instruments to secure the Obligations hereunder. Notwithstanding anything to
the contrary herein, upon the sale of or other transfer of all or any of the Unimproved
Properties, the Borrowers shall have the right to obtain Releases from the Liens and security
interests of the Administrative Agent hereunder and under the Collateral Documents relating thereto
and all Obligations hereunder and under the Collateral Documents without any requirements or other
conditions other than the sale of transfer of an Unimproved Property out of the applicable
Borrowers, including without any requirement to pay any Release Price or Prepayment Premium.

9.15. Like-Kind Exchanges.

     In connection with any Borrower’s sale of a Real Property Asset (or an Unimproved Property),
Borrower may structure the sale as a like-kind exchange for all or a portion of such Real Property
Asset (or an Unimproved Property), in one or more concurrent or delayed tax-deferred exchanges
which shall qualify under Section 1031 of the Internal Revenue Code (“1031 Exchange”). If a Real
Property Asset (or an Unimproved Property) is sold as part of a 1031 Exchange, Borrower may, in its
sole election, remain a Subsidiary of Parent Borrower after the sale and release of the Real
Property Asset (or an Unimproved Property) for so long as is reasonably required to complete the
1031 Exchange and Acquire a new Real Property Asset. The Lenders acknowledge that Yuba Aviv,
L.L.C. (“Yuba”) is in the process of completing a 1031 Exchange and will be a Borrower as of the
Closing Date, notwithstanding that Yuba will not own a Real Property Asset as of the Closing Date.

98

 

ARTICLE X

MISCELLANEOUS

10.01. Amendments, Etc.

     No amendment or waiver of any provision of this Credit Agreement or any other Credit Document
(other than Secured Swap Contracts), and no consent to any departure by the Borrower or any other
Credit Party therefrom, shall be effective unless in writing signed by the Required Lenders and the
Borrower or the applicable Credit Party, as the case may be, and acknowledged by the Administrative
Agent, and each such waiver or consent shall be effective only in the specific instance and for the
specific purpose for which given; provided, however, that no such amendment, waiver
or consent shall:

     (a) extend or increase the Commitment of any Lender (or reinstate any Commitment
terminated pursuant to Section 8.02) without the written consent of such Lender (except as
otherwise permitted or contemplated hereunder (including under Section 2.15));
provided, that any extension or increase in the Term Loan shall require the written consent
of each Lender (except as otherwise permitted or contemplated hereunder (including under
Section 2.15));

     (b) postpone any date fixed by this Credit Agreement or any other Credit Document for any
payment (excluding mandatory prepayments) of principal, interest, fees or other amounts due to the
Lenders (or any of them) hereunder or under any other Credit Document without the written consent
of each Lender;

     (c) reduce the principal of, or the rate of interest specified herein on, any Loan or any
fees or other amounts payable hereunder (including, without limitation, any prepayment fees) or
under any other Credit Document without the written consent of each Lender; provided,
however, that only the consent of the Required Lenders shall be necessary to amend the
definition of “Default Rate” or to waive any obligation of the Borrower to pay interest at the
Default Rate;

     (d) change Section 2.12 or Section 8.03 in a manner that would alter the
pro rata sharing of payments required thereby without the written consent of each Lender;

     (e) change any provision of this Section or the definition of “Required Lenders” or any
other provision hereof specifying the number or percentage of Lenders required to amend, waive or
otherwise modify any rights hereunder or make any determination or grant any consent hereunder
without the written consent of each Lender;

     (f) except as otherwise permitted or contemplated hereunder (including under Sections
9.11, 9.12, 9.13, 9.14 and 9.15), release Collateral
representing more than 10% of the aggregate Rental Revenue in any transaction or series of
transactions without the written consent of each Lender; or

     (g) release (i) Aviv from the Agreement of Principal or (ii) all or substantially all of
the value of any other guaranty without the written consent of each Lender, except to the extent
the release of any guarantor is permitted pursuant to Section 9.11 (in which case such
release may be made by the Administrative Agent acting alone);

99

 

and, provided further, that no amendment, waiver or consent shall, unless in writing and signed by
the Administrative Agent in addition to the Lenders required above, affect the rights or duties of
the Administrative Agent under this Credit Agreement or any other Credit Document. Notwithstanding
anything to the contrary herein, no Defaulting Lender shall have any right to approve or disapprove
any amendment, waiver or consent hereunder, except that (i) the Commitment of any Defaulting Lender
may not be increased or extended without the consent of such Lender, (ii) any waiver, amendment or
modification requiring the consent of all Lenders or each affected Lender that by its terms affects
any Defaulting Lender more adversely than other affected Lenders shall require the consent of such
Defaulting Lender, (iii) such Lender’s balance may not be forgiven without the consent of such
Lender, and (iv) the interest rate on the Loans cannot be reduced. No amendment, modification or
waiver of this Agreement or any Credit Document altering the ratable treatment of Obligations
arising under a Secured Pari Swap Contract resulting in such Obligations being junior in right of
payment to principal of the Loans or resulting in Obligations owing to any Secured Swap
Counterparty thereunder being unsecured (other than releases of Liens applicable to all Lenders and
otherwise permitted in accordance with the terms hereof), in each case in a manner adverse to any
Secured Swap Counterparty, shall be effective without the written consent of such Secured Swap
Counterparty or, in the case of a Secured Pari Swap Contract provided or arranged by the
Administrative Agent or an Affiliate thereof, the Administrative Agent. No amendment, modification
or waiver of this Agreement or any Credit Document altering the ratable treatment of Obligations
arising under a Secured Subordinated Swap Contract resulting in Obligations owing to any Secured
Swap Counterparty thereunder being unsecured (other than releases of Liens applicable to all
Lenders and otherwise permitted in accordance with the terms hereof), in each case in a manner
adverse to any Secured Swap Counterparty, shall be effective without the written consent of such
Secured Swap Counterparty or, in the case of a Secured Subordinated Swap Contract provided or
arranged by the Administrative Agent or an Affiliate thereof, the Administrative Agent. If, in
connection with any proposed amendment, waiver or consent requiring the consent of “each Lender” or
“each Lender directly affected thereby,” the consent of the Required Lenders is obtained, but the
consent of other necessary Lenders is not obtained (any such Lender whose consent is necessary but
not obtained being referred to herein as a “Non-Consenting Lender”), then the Borrower
Representative may elect to replace any such Non-Consenting Lender as a Lender party to this
Agreement pursuant to Section 10.13.

10.02. Notices and Other Communications; Facsimile Copies.

     (a) General. Unless otherwise expressly provided herein, all notices and other
communications provided for hereunder shall be in writing (including by facsimile transmission).
All such written notices shall be mailed certified or registered mail, faxed or delivered to the
applicable address, facsimile number or (subject to subsection (c) below) electronic mail address,
and all notices and other communications expressly permitted hereunder to be given by telephone
shall be made to the applicable telephone number, as follows:

     (i) if to any Borrower or the Administrative Agent, to the address, facsimile
number, electronic mail address or telephone number specified for such Person on Schedule
10.02 or to such other address, facsimile number, electronic mail address or telephone
number as shall be designated by such party in a notice to the other parties; and

100

 

     (ii) if to any other Lender, to the address, facsimile number, electronic mail
address or telephone number specified in its Administrative Questionnaire or to such other
address, facsimile number, electronic mail address or telephone number as shall be
designated by such party in a notice to any Borrower and the Administrative Agent.

Notices sent by hand or overnight courier service, or mailed by certified or registered mail, shall
be deemed to have been given when received; notices sent by facsimile shall be deemed to have been
given when sent (except that, if not given during normal business hours for the recipient, shall be
deemed to have been given at the opening of business on the next business day for the recipient).
Notices delivered through electronic communications to the extent provided in subsection (b) below,
shall be effective as provided in such subsection (b).

     (b) Electronic Communications. Notices and other communications to the Lenders
hereunder may be delivered or furnished by electronic communication (including e-mail and Internet
or intranet websites) pursuant to procedures approved by the Administrative Agent, provided that
the foregoing shall not apply to notices to any Lender pursuant to Article II if such Lender has
notified the Administrative Agent that it is incapable of receiving notices under such Article by
electronic communication. The Administrative Agent or the Borrower Representative may, in its
respective discretion, agree to accept notices and other communications to it hereunder by
electronic communications pursuant to procedures approved by it, provided that approval of such
procedures may be limited to particular notices or communications.

     Unless the Administrative Agent otherwise prescribes, (i) notices and other communications
sent to an e-mail address shall be deemed received upon the sender’s receipt of an acknowledgement
from the intended recipient (such as by the “return receipt requested” function, as available,
return e-mail or other written acknowledgement), provided that if such notice or other
communication is not sent during the normal business hours of the recipient, such notice or
communication shall be deemed to have been sent at the opening of business on the next business day
for the recipient, and (ii) notices or communications posted to an Internet or intranet website
shall be deemed received upon the deemed receipt by the intended recipient at its e-mail address as
described in the foregoing clause (i) of notification that such notice or communication is
available and identifying the website address therefor.

     (c) The Platform. THE PLATFORM IS PROVIDED “AS IS” AND “AS AVAILABLE.” THE AGENT
PARTIES (AS DEFINED BELOW) DO NOT WARRANT THE ACCURACY OR COMPLETENESS OF THE BORROWER MATERIALS OR
THE ADEQUACY OF THE PLATFORM, AND EXPRESSLY DISCLAIM LIABILITY FOR ERRORS IN OR OMISSIONS FROM THE
BORROWER MATERIALS. NO WARRANTY OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY, INCLUDING ANY WARRANTY
OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON INFRINGEMENT OF THIRD PARTY RIGHTS OR
FREEDOM FROM VIRUSES OR OTHER CODE DEFECTS, IS MADE BY ANY AGENT PARTY IN CONNECTION WITH THE
BORROWER MATERIALS OR THE PLATFORM. In no event shall the Administrative Agent or any of its
Related Parties (collectively, the “Agent Parties”) have any liability to the Credit Parties, any
Lender or any other Person for losses, claims, damages, liabilities or expenses of any kind
(whether in tort, contract or otherwise) arising out of the Credit Parties’ or the Administrative
Agent’s transmission of Borrower Materials through the Internet, except to the

101

 

extent that such losses, claims, damages, liabilities or expenses are determined by a court of
competent jurisdiction by a final and nonappealable judgment to have resulted from the gross
negligence or willful misconduct of such Agent Party; provided, however, that in no
event shall any Agent Party have any liability to the Credit Parties, any Lender or any other
Person for indirect, special, incidental, consequential or punitive damages (as opposed to direct
or actual damages).

     (d) Change of Address, Etc. Each of the Credit Parties and the Administrative
Agent may change its address, telecopier or telephone number for notices and other communications
hereunder by notice to the other parties hereto. Each other Lender may change its address,
telecopier or telephone number for notices and other communications hereunder by notice to the
Borrower Representative and the Administrative Agent. In addition, each Lender agrees to notify
the Administrative Agent from time to time to ensure that the Administrative Agent has on record
(i) an effective address, contact name, telephone number, telecopier number and electronic mail
address to which notices and other communications may be sent and (ii) accurate wire instructions
for such Lender. Furthermore, each Public Lender agrees to cause at least one individual at or on
behalf of such Public Lender to at all times have selected the “Private Side Information” or
similar designation on the content declaration screen of the Platform in order to enable such
Public Lender or its delegate, in accordance with such Public Lender’s compliance procedures and
applicable Law, including United States Federal and state securities Laws, to make reference to
Borrower Materials that are not made available through the “Public Side Information” portion of the
Platform and that may contain material non-public information with respect to the Credit Parties or
its securities for purposes of United States Federal or state securities laws.

     (e) Reliance by Administrative Agent and Lenders. The Administrative Agent and
the Lenders shall be entitled to rely and act upon any notices (including telephonic Loan Borrowing
Notices) purportedly given by or on behalf of the Borrowers even if (i) such notices were not made
in a manner specified herein, were incomplete or were not preceded or followed by any other form of
notice specified herein, or (ii) the terms thereof, as understood by the recipient, varied from any
confirmation thereof. The Borrowers shall indemnify each Agent-Related Person and each Lender from
all losses, costs, expenses and liabilities resulting from the reliance by such Person on each
notice purportedly given by or on behalf of the Borrowers. All telephonic notices to and other
communications with the Administrative Agent may be recorded by the Administrative Agent, and each
of the parties hereto hereby consents to such recording.

     (f) Effectiveness of Facsimile Documents and Signatures. Credit Documents may be
transmitted and/or signed by facsimile. The effectiveness of any such documents and signatures
shall, subject to applicable Law, have the same force and effect as manually-signed originals and
shall be binding on all Loan Parties, the Administrative Agent and the Lenders. The Administrative
Agent may also require that any such documents and signatures be confirmed by a manually-signed
original thereof; provided, however, that the failure to request or deliver the same shall
not limit the effectiveness of any facsimile document or signature.

     (g) Flood Law Notification. The Administrative Agent has adopted internal
policies and procedures that address requirements placed on federally regulated lenders under the

102

 

National Flood Insurance Reform Act of 1994 and related legislation (the “Flood Laws”). The
Administrative Agent will post on the applicable electronic platform (or otherwise distribute
to each Lender) documents that it receives in connection with the Flood Laws. However, the
Administrative Agent reminds each Lender and participant that, pursuant to the Flood Laws, each
federally regulated lender (whether acting as a Lender or participant) is responsible for assuring
its own compliance with the flood insurance requirements.

10.03. No Waiver; Cumulative Remedies.

     No failure by any Lender or the Administrative Agent to exercise, and no delay by any such
Person in exercising, any right, remedy, power or privilege hereunder shall operate as a waiver
thereof; nor shall any single or partial exercise of any right, remedy, power or privilege
hereunder preclude any other or further exercise thereof or the exercise of any other right,
remedy, power or privilege. The rights, remedies, powers and privileges herein provided are
cumulative and not exclusive of any rights, remedies, powers and privileges provided by law.

     Notwithstanding anything to the contrary contained herein or in any other Credit Document, the
authority to enforce rights and remedies hereunder and under the other Credit Documents against the
Credit Parties or any of them shall be vested exclusively in, and all actions and proceedings at
law in connection with such enforcement shall be instituted and maintained exclusively by, the
Administrative Agent in accordance with Section 8.02 for the benefit of all the Lenders;
provided, however, that the foregoing shall not prohibit (a) the Administrative
Agent from exercising on its own behalf the rights and remedies that inure to its benefit (solely
in its capacity as Administrative Agent) hereunder and under the other Credit Documents, (b) any
Lender from exercising setoff rights in accordance with Section 10.08 (subject to the terms
of Sections 2.10 and 10.21), or (c) any Lender from filing proofs of claim or
appearing and filing pleadings on its own behalf during the pendency of a proceeding relative to
any Credit Party under any Debtor Relief Law; and provided, further, that if at any
time there is no Person acting as Administrative Agent hereunder and under the other Credit
Documents, then (i) the Required Lenders shall have the rights otherwise ascribed to the
Administrative Agent pursuant to Section 8.02 and (ii) in addition to the matters set forth
in clauses (b) and (c) of the preceding proviso and subject to Section 2.10, any Lender
may, with the consent of the Required Lenders, enforce any rights and remedies available to it and
as authorized by the Required Lenders.

10.04. Expenses; Indemnity; Damage Waiver.

     (a) Costs and Expenses. The Credit Parties shall pay (i) all reasonable
out-of-pocket expenses incurred by the Administrative Agent and its Affiliates (including the
reasonable fees, charges and disbursements of external counsel for the Administrative Agent), in
connection with the syndication of the credit facilities provided for herein, the preparation,
negotiation, execution, delivery and administration of this Credit Agreement and the other Credit
Documents or any amendments, modifications or waivers of the provisions hereof or thereof (whether
or not the transactions contemplated hereby or thereby shall be consummated), and (ii) all out of
pocket expenses incurred by the Administrative Agent or any Lender (including the fees, charges and
disbursements of any external counsel for the Administrative Agent or any Lender), in connection
with the enforcement or protection of its rights (A) in connection with this Credit

103

 

Agreement and
the other Credit Documents, including its rights under this Section, or (B) in
connection with Loans made hereunder, including all such out-of-pocket expenses incurred
during any workout, restructuring or negotiations in respect of such Loans.

     (b) Indemnification by the Credit Parties. The Credit Parties shall indemnify the
Administrative Agent (and any sub-agent thereof), each Lender, and each Related Party of any of the
foregoing Persons (each such Person being called an “Indemnitee”) against, and hold each Indemnitee
harmless from, any and all losses, claims, damages, liabilities and related expenses (including the
fees, charges and disbursements of any counsel for any Indemnitee), incurred by any Indemnitee or
asserted against any Indemnitee by any third party or by any Borrower or any other Credit Party
arising out of, in connection with, or as a result of (i) the execution or delivery of this Credit
Agreement, any other Credit Document or any agreement or instrument contemplated hereby or thereby,
the performance by the parties hereto of their respective obligations hereunder or thereunder or
the consummation of the transactions contemplated hereby or thereby, or, in the case of the
Administrative Agent (and any sub-agent thereof) and its Related Parties only, the administration
of this Agreement and the other Credit Documents (including in respect of any matters addressed in
Section 3.01), (ii) any Loan or the use or proposed use of the proceeds therefrom, (iii)
any actual or alleged presence or release of Hazardous Materials on or from any property owned or
operated by any Credit Party, or any Environmental Liability related in any way to any Credit
Party, or (iv) any actual or prospective claim, litigation, investigation or proceeding relating to
any of the foregoing, whether based on contract, tort or any other theory, whether brought by a
third party or by any Borrower or any other Credit Party, and regardless of whether any Indemnitee
is a party thereto (all of the foregoing, collectively, the “Indemnified Liabilities”);
provided that such indemnity shall not, as to any Indemnitee, be available to the extent
that such losses, claims, damages, liabilities or related expenses (x) are determined by a court of
competent jurisdiction by final and nonappealable judgment to have resulted from the gross
negligence or willful misconduct of such Indemnitee or (y) result from a claim brought by any
Borrower or any other Credit Party against such Indemnitee for breach in bad faith of such
Indemnitee’s obligations hereunder or under any other Credit Document, if such Borrower or such
other Credit Party has obtained a final and nonappealable judgment in its favor on such claim as
determined by a court of competent jurisdiction.

     (c) Reimbursement by Lenders. To the extent that the Credit Parties for any
reason fail to indefeasibly pay any amount required under subsection (a) or (b) of this Section to
be paid by it to the Administrative Agent (or any sub-agent thereof), any Related Party of any of
the foregoing (and without limiting their obligation to do so), each Lender severally agrees to pay
to the Administrative Agent (or any such sub-agent) or such Related Party, as the case may be, such
Lender’s Commitment Percentage (determined as of the time that the applicable unreimbursed expense
or indemnity payment is sought) of such unpaid amount, provided that the unreimbursed
expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was
incurred by or asserted against the Administrative Agent (or any such sub-agent) in its capacity as
such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or
any such sub-agent) in connection with such capacity. The obligations of the Lenders under this
subsection (c) are subject to the provisions of Section 2.12(e).

104

 

     (d) Waiver of Consequential Damages, Etc. To the fullest extent permitted by
applicable law, the Credit Parties shall not assert, and hereby waives, any claim against any
Indemnitee, on any theory of liability, for special, indirect, consequential or punitive
damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result
of, this Credit Agreement, any other Credit Document or any agreement or instrument contemplated
hereby, the transactions contemplated hereby or thereby, any Loan or the use of the proceeds
thereof. No Indemnitee referred to in subsection (b) above shall be liable for any damages arising
from the use by unintended recipients of any information or other materials distributed to such
unintended recipients by such Indemnitee through telecommunications, electronic or other
information transmission systems in connection with this Agreement or the other Credit Documents or
the transactions contemplated hereby or thereby other than for direct or actual damages resulting
from the gross negligence or willful misconduct of such Indemnitee as determined by a final and
nonappealable judgment of a court of competent jurisdiction.

     (e) Payments. All amounts due under this Section shall be payable not later than
ten Business Days after demand therefor.

     (f) Survival. The agreements in this Section shall survive the resignation of the
Administrative Agent, the replacement of any Lender, the termination of the Aggregate Commitments
and the repayment, satisfaction or discharge of all the other Obligations.

10.05. Payments Set Aside.

     To the extent that any payment by or on behalf of the Borrowers is made to the Administrative
Agent or any Lender, or the Administrative Agent or any Lender exercises its right of set-off, and
such payment or the proceeds of such set-off or any part thereof is subsequently invalidated,
declared to be fraudulent or preferential, set aside or required (including pursuant to any
settlement entered into by the Administrative Agent or such Lender in its discretion) to be repaid
to a trustee, receiver or any other party, in connection with any proceeding under any Debtor
Relief Law or otherwise, then (a) to the extent of such recovery, the obligation or part thereof
originally intended to be satisfied shall be revived and continued in full force and effect as if
such payment had not been made or such set-off had not occurred, and (b) each Lender severally
agrees to pay to the Administrative Agent upon demand its applicable share of any amount so
recovered from or repaid by the Administrative Agent, plus interest thereon from the date of such
demand to the date such payment is made at a rate per annum equal to the Federal Funds Rate from
time to time in effect.

10.06. Successors and Assigns.

     (a) The provisions of this Credit Agreement shall be binding upon and inure to the benefit
of the parties hereto and their respective successors and assigns permitted hereby, except that no
Borrower may assign or otherwise transfer any of its rights or obligations hereunder without the
prior written consent of each Lender and no Lender may assign or otherwise transfer any of its
rights or obligations hereunder except that all or any portion of the Revolving Loan or the Term
Loan may assign or otherwise transfer (i) to an Eligible Assignee in accordance with the provisions
of subsection (b) of this Section, (ii) to a Qualified Transferee, (iii) by way of participation in
accordance with the provisions of subsection (d) of this Section, or (iv) by way

105

 

of pledge or
assignment of a security interest subject to the restrictions of subsection (f) or (i) of this
Section (and any other attempted assignment or transfer by any party hereto shall be null and
void). Nothing in this Credit Agreement, expressed or implied, shall be construed to confer
upon any Person (other than the parties hereto, their respective successors and assigns permitted
hereby, Participants to the extent provided in subsection (d) of this Section and, to the extent
expressly contemplated hereby, the “Indemnitees”) any legal or equitable right, remedy or claim
under or by reason of this Credit Agreement.

     (b) Any Lender may at any time assign to one or more Qualified Transferee or Eligible
Assignees all or a portion of its rights and obligations under this Credit Agreement (including all
or a portion of its Commitment and Loans at the time owing to it); provided that (i) except
in the case of an assignment of the entire remaining amount of the assigning Lender’s Commitment
and Loans at the time owing to it or in the case of an assignment to a Lender or an Affiliate of a
Lender or an Approved Fund with respect to a Lender, the aggregate amount of the Commitment (which
for this purpose includes the Loans outstanding thereunder) subject to each such assignment,
determined as of the date the Assignment and Assumption with respect to such assignment is
delivered to the Administrative Agent or, if “Trade Date” is specified in the Assignment and
Assumption, as of the Trade Date, shall not be less than $1,000,000 unless each of the
Administrative Agent and, so long as no Event of Default has occurred and is continuing, the
Borrower Representative otherwise consents (each such consent not to be unreasonably withheld or
delayed) provided, however, that concurrent assignments to members of an Assignee
Group and concurrent assignments from members of an Assignee Group to a single Eligible Assignee
(or to an Eligible Assignee and members of its Assignee Group) will be treated as a single
assignment for purposes of determining whether such minimum amount has been met; (ii) each partial
assignment shall be made as an assignment of a proportionate part of all the assigning Lender’s
rights and obligations under this Credit Agreement with respect to the Loans or the Commitment
assigned; (iii) any assignment of any unfunded Commitment must be approved by the Administrative
Agent (such approval not to be unreasonably withheld or delayed), unless the Person that is the
proposed assignee is itself a Lender (whether or not the proposed assignee would otherwise qualify
as an Eligible Assignee); and (iv) the parties to each assignment shall execute and deliver to the
Administrative Agent an Assignment and Assumption, together with a processing and recordation fee
in the amount of $3,500; provided, however, that the Administrative Agent may, in
its sole discretion, elect to waive such processing and recordation fee in the case of any
assignment. Subject to acceptance and recording thereof by the Administrative Agent pursuant to
subsection (c) of this Section, from and after the effective date specified in each Assignment and
Assumption, the Eligible Assignee or Qualified Transferee thereunder shall be a party to this
Credit Agreement and, to the extent of the interest assigned by such Assignment and Assumption,
have the rights and obligations of a Lender under this Credit Agreement, and the assigning Lender
thereunder shall, to the extent of the interest assigned by such Assignment and Assumption, be
released from its obligations under this Credit Agreement (and, in the case of an Assignment and
Assumption covering all of the assigning Lender’s rights and obligations under this Credit
Agreement, such Lender shall cease to be a party hereto but shall continue to be entitled to the
benefits of Sections 3.01, 3.04, 3.05, 10.04 and 10.05 with
respect to facts and circumstances occurring prior to the effective date of such assignment). Upon
request, the Borrowers (at their expense) shall execute and deliver a Note to the assignee Lender
and, if the assignor Lender retains a portion of the Loan, a Note to the assignor Lender. Any
assignment or transfer by a Lender of rights or obligations under this

106

 

Credit Agreement that does
not comply with this subsection shall be treated for purposes of this
Credit Agreement as a sale by such Lender of a participation in such rights and obligations in
accordance with subsection (d) of this Section.

     (c) The Administrative Agent, acting solely for this purpose as an agent of the Borrowers,
shall maintain at the Administrative Agent’s Office a copy of each Assignment and Assumption
delivered to it and a register for the recordation of the names and addresses of the Lenders, and
the Commitments of, and principal amounts of the Loans owing to each Lender pursuant to the terms
hereof from time to time (the “Register”). The entries in the Register shall be conclusive, and
the Borrowers, the Administrative Agent and the Lenders may treat each Person whose name is
recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of
this Agreement, notwithstanding notice to the contrary. The Register shall be available for
inspection by the Borrower Representative at any reasonable time and from time to time upon
reasonable prior notice.

     (d) Any Lender may at any time, without the consent of, or notice to, the Borrowers or the
Administrative Agent, sell participations to any Person (other than a natural person or the
Borrowers or any of the Borrowers’ Affiliates or Subsidiaries) (each, a “Participant”) in all or a
portion of such Lender’s rights and/or obligations under this Credit Agreement (including all or a
portion of its Commitment and/or the Loans owing to it); provided that (i) such Lender’s
obligations under this Credit Agreement shall remain unchanged, (ii) such Lender shall remain
solely responsible to the other parties hereto for the performance of such obligations and (iii)
the Borrowers, the Administrative Agent and the other Lenders shall continue to deal solely and
directly with such Lender in connection with such Lender’s rights and obligations under this Credit
Agreement. Any agreement or instrument pursuant to which a Lender sells such a participation shall
provide that such Lender shall retain the sole right to enforce this Credit Agreement and to
approve any amendment, modification or waiver of any provision of this Credit Agreement;
provided that such agreement or instrument may provide that such Lender will not, without
the consent of the Participant, agree to any amendment, waiver or other modification that extends
the time for, reduces the amount or alters the application of proceeds with respect to such
obligations and payments required therein that directly affects such Participant. Subject to
subsection (e) of this Section, the Borrowers agree that each Participant shall be entitled to the
benefits of Sections 3.01, 3.04 and 3.05 to the same extent as if it were a
Lender and had acquired its interest by assignment pursuant to subsection (b) of this Section. To
the extent permitted by law, each Participant also shall be entitled to the benefits of Section
10.08 as though it were a Lender, provided such Participant agrees to be subject to Section
2.10 as though it were a Lender. Each Lender that sells a participation shall, acting solely
for this purpose as an agent of the Borrower (in compliance with Section 5f.103-1(c) of the U.S.
Treasury Regulations), maintain a register on which it enters the name and address of each
Participant and the principal amounts (and stated interest) of each Commitment and or the Loans
under this Credit Agreement.

     (e) A Participant shall not be entitled to receive any greater payment under Section
3.01 or 3.04 than the applicable Lender would have been entitled to receive with
respect to the participation sold to such Participant. A Participant that would be a Foreign
Lender if it were a Lender shall not be entitled to the benefits of Section 3.01 unless the
Borrower

107

 

Representative is notified of the participation sold to such Participant and such
Participant agrees, for the benefit of the Borrowers, to comply with Section 3.01 as though
it were a Lender.

     (f) Any Lender may at any time pledge or assign a security interest in all or any portion
of its rights under this Credit Agreement (including under its Note, if any) to secure obligations
of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank;
provided that no such pledge or assignment shall release such Lender from any of its
obligations hereunder or substitute any such pledgee or assignee for such Lender as a party hereto.

     (g) Notwithstanding anything to the contrary contained herein, any Lender that is a Fund
may (without notice to or the consent of any of the parties hereto) create a security interest in
all or any portion of the Loans owing to it and the Note evidencing such Loans, if any, held by it
to the trustee for holders of obligations owed, or securities issued, by such Fund as security for
such obligations or securities, provided that unless and until such trustee actually becomes a
Lender in compliance with the other provisions of this Section 10.06, (i) no such pledge
shall release the pledging Lender from any of its obligations under the Credit Documents and (ii)
such trustee shall not be entitled to exercise any of the rights of a Lender under the Credit
Documents even though such trustee may have acquired ownership rights with respect to the pledged
interest through foreclosure or otherwise.

10.07. Treatment of Certain Information; Confidentiality.

     Each of the Administrative Agent and the Lenders agree to maintain the confidentiality of the
Information (as defined below), except that Information may be disclosed (a) to its Affiliates and
to its and its Affiliates’ respective partners, directors, officers, employees, agents, trustees,
advisors and representatives (it being understood that the Persons to whom such disclosure is made
will be informed of the confidential nature of such Information and instructed to keep such
Information confidential), (b) to the extent requested by any regulatory authority purporting to
have jurisdiction over it (including any self-regulatory authority, such as the National
Association of Insurance Commissioners), (c) to the extent required by applicable laws or
regulations or by any subpoena or similar legal process, (d) to any other party hereto, (e) in
connection with the exercise of any remedies hereunder or under any other Credit Document or any
action or proceeding relating to this Credit Agreement or any other Credit Document or the
enforcement of rights hereunder or thereunder, (f) subject to an agreement containing provisions
substantially the same as those of this Section, to (i) any assignee of or Participant in, or any
prospective assignee of or Participant in, any of its rights or obligations under this Credit
Agreement or (ii) any actual or prospective counterparty (or its advisors) to any swap or
derivative transaction relating to any Borrower and its obligations, (g) with the consent of the
Borrower Representative or (h) to the extent such Information (i) becomes publicly available other
than as a result of a breach of this Section by the disclosing person or (ii) becomes available to
the Administrative Agent, any Lender or any of their respective Affiliates on a nonconfidential
basis from a source other than the Credit Parties.

     For purposes of this Section, “Information” means all information received from any Credit
Party or any Subsidiary thereof relating to any Credit Party or any Subsidiary thereof or their
respective businesses, other than any such information that is available to the

108

 

Administrative
Agent or any Lender on a nonconfidential basis prior to disclosure by any Credit Party or any
Subsidiary thereof, provided that, in the case of information received from a Credit Party
or any such Subsidiary after the date hereof, such information is clearly identified at the
time of delivery as confidential. Any Person required to maintain the confidentiality of
Information as provided in this Section shall be considered to have complied with its obligation to
do so if such Person has exercised the same degree of care to maintain the confidentiality of such
Information as such Person would accord to its own confidential information.

     Each of the Administrative Agent and the Lenders acknowledge that (a) the Information may
include material non-public information concerning the Credit Parties, (b) it has developed
compliance procedures regarding the use of material non-public information and (c) it will handle
such material non-public information in accordance with applicable Law, including United States
Federal and state securities Laws.

10.08. Set off.

     Subject to the provisions of Section 10.21, if an Event of Default shall have occurred
and be continuing, each Lender and each of their respective Affiliates is hereby authorized at any
time and from time to time, to the fullest extent permitted by applicable law, to set off and apply
any and all deposits (general or special, time or demand, provisional or final, in whatever
currency) at any time held and other obligations (in whatever currency) at any time owing by such
Lender or any such Affiliate to or for the credit or the account of the Credit Parties against any
and all of the obligations of the Credit Parties now or hereafter existing under this Agreement or
any other Credit Document to such Lender, irrespective of whether or not such Lender shall have
made any demand under this Credit Agreement or any other Credit Document and although such
obligations of the Credit Parties may be contingent or unmatured or are owed to a branch or office
of such Lender different from the branch or office holding such deposit or obligated on such
indebtedness. The rights of each Lender and their respective Affiliates under this Section are in
addition to other rights and remedies (including other rights of setoff) that such Lender or their
respective Affiliates may have. Each Lender agrees to notify the Borrower Representative and the
Administrative Agent promptly after any such setoff and application, provided that the
failure to give such notice shall not affect the validity of such setoff and application.
Notwithstanding the provisions of this Section 10.08, if at any time any Lender or any of
their respective Affiliates maintains one or more deposit accounts for the Borrowers or any other
Credit Party into which Medicare and/or Medicaid receivables are deposited, such Person shall waive
the right of setoff set forth herein.

10.09. Interest Rate Limitation.

     Notwithstanding anything to the contrary contained in any Credit Document, the interest paid
or agreed to be paid under the Credit Documents shall not exceed the maximum rate of non-usurious
interest permitted by applicable Law (the “Maximum Rate”). If the Administrative Agent or any
Lender shall receive interest in an amount that exceeds the Maximum Rate, the excess interest shall
be applied to the principal of the Loans or, if it exceeds such unpaid principal, refunded to the
Borrowers. In determining whether the interest contracted for, charged, or received by the
Administrative Agent or a Lender exceeds the Maximum Rate, such Person may, to the extent permitted
by applicable Law, (a) characterize any payment that is not

109

 

principal as an expense, fee, or
premium rather than interest, (b) exclude voluntary prepayments and the effects thereof, and (c)
amortize, prorate, allocate, and spread in equal or unequal parts the total amount of interest
throughout the contemplated term of the Obligations hereunder.

10.10. Counterparts; Integration; Effectiveness.

     This Credit Agreement may be executed in counterparts (and by different parties hereto in
different counterparts), each of which shall constitute an original, but all of which when taken
together shall constitute a single contract. This Credit Agreement and the other Credit Documents
constitute the entire contract among the parties relating to the subject matter hereof and
supersede any and all previous agreements and understandings, oral or written, relating to the
subject matter hereof. Except as provided in Section 4.01, this Credit Agreement shall
become effective when it shall have been executed by the Administrative Agent and when the
Administrative Agent shall have received counterparts hereof that, when taken together, bear the
signatures of each of the other parties hereto. Delivery of an executed counterpart of a signature
page of this Credit Agreement by telecopy or other electronic imaging means shall be effective as
delivery of a manually executed counterpart of this Credit Agreement.

10.11. Survival of Representations and Warranties.

     All representations and warranties made hereunder and in any other Credit Document or other
document delivered pursuant hereto or thereto or in connection herewith or therewith shall survive
the execution and delivery hereof and thereof. Such representations and warranties have been or
will be relied upon by the Administrative Agent and each Lender, regardless of any investigation
made by the Administrative Agent or any Lender or on their behalf and notwithstanding that the
Administrative Agent or any Lender may have had notice or knowledge of any Default or Event of
Default existing at the time of any Borrowing, and shall continue in full force and effect as long
as the Loan or any other Obligation hereunder shall remain unpaid or unsatisfied.

10.12. Severability.

     If any provision of this Credit Agreement or the other Credit Documents is held to be illegal,
invalid or unenforceable, (a) the legality, validity and enforceability of the remaining provisions
of this Credit Agreement and the other Credit Documents shall not be affected or impaired thereby
and (b) the parties shall endeavor in good faith negotiations to replace the illegal, invalid or
unenforceable provisions with valid provisions the economic effect of which comes as close as
possible to that of the illegal, invalid or unenforceable provisions. The invalidity of a
provision in a particular jurisdiction shall not invalidate or render unenforceable such provision
in any other jurisdiction.

10.13. Replacement of Lenders.

     If any Lender requests compensation under Section 3.04, or if any Borrower is required
to pay any additional amount to any Lender or any Governmental Authority for the account of any
Lender pursuant to Section 3.01, or if any Lender can no longer make Eurodollar Loans under
Section 3.02 or if any Lender is a Defaulting Lender or if permitted pursuant to
Section 10.01 due to the existence of a Non-Consenting Lender, then the Borrower
Representative may,

110

 

at its sole expense and effort, upon notice to such Lender and the
Administrative Agent, require such Lender to assign and delegate, without recourse (in accordance
with and subject to the restrictions contained in, and consents required by, Section
10.06), all of its interests, rights and
obligations under this Credit Agreement and the related Credit Documents to an assignee that
shall assume such obligations (which assignee may be another Lender, if a Lender accepts such
assignment), provided that:

     (a) the Borrowers shall have paid to the Administrative Agent the assignment fee specified
in Section 10.06(b);

     (b) such Lender shall have received payment of an amount equal to the outstanding
principal of its Loans, accrued interest thereon, accrued fees and all other amounts payable to it
hereunder and under the other Credit Documents (including any amounts under Section 3.05)
from the assignee (to the extent of such outstanding principal and accrued interest and fees) or
the Borrowers (in the case of all other amounts);

     (c) in the case of any such assignment resulting from a claim for compensation under
Section 3.04 or payments required to be made pursuant to Section 3.01, such
assignment will result in a reduction in such compensation or payments thereafter; and

     (d) such assignment does not conflict with applicable Laws.

     A Lender shall not be required to make any such assignment or delegation if, prior thereto, as
a result of a waiver by such Lender or otherwise, the circumstances entitling the Borrower
Representative to require such assignment and delegation cease to apply.

10.14. No Advisory or Fiduciary Responsibility.

     In connection with all aspects of each transaction contemplated hereby, the Borrowers each
acknowledge and agree, and acknowledge their respective Affiliates’ understanding, that: (a) the
credit facility provided for hereunder and any related arranging or other services in connection
therewith (including in connection with any amendment, waiver or other modification hereof or of
any other Credit Document) are an arm’s-length commercial transaction between the Borrowers and
their respective Affiliates, on the one hand, and the Administrative Agent and the Lenders, on the
other hand, and each Borrower is capable of evaluating and understanding and understands and
accepts the terms, risks and conditions of the transactions contemplated hereby and by the other
Credit Documents (including any amendment, waiver or other modification hereof or thereof); (b) in
connection with the process leading to such transaction, the Administrative Agent and the Lenders
are and have been acting solely as principals and no such Person is the financial advisor, agent or
fiduciary, for the Borrowers or any of their respective Affiliates, stockholders, creditors or
employees or any other Person; (c) neither the Administrative Agent nor any Lender has assumed or
will assume an advisory, agency or fiduciary responsibility in favor of the Borrowers with respect
to any of the transactions contemplated hereby or the process leading thereto, including with
respect to any amendment, waiver or other modification hereof or of any other Credit Document
(irrespective of whether the Administrative Agent or any Lender has advised or is currently
advising the Borrowers or any of their respective Affiliates on other matters) and neither the
Administrative

111

 

Agent nor any Lender has any obligation to the Borrowers or any of their respective
Affiliates with respect to the transactions contemplated hereby except those obligations expressly
set forth herein and in the other Credit Documents; (d) the Administrative Agent, the Lenders and
their
respective Affiliates may be engaged in a broad range of transactions that involve interests
that differ from those of the Borrowers and their respective Affiliates, and neither the
Administrative Agent nor any Lender has any obligation to disclose any of such interests by virtue
of any advisory, agency or fiduciary relationship; and (e) neither the Administrative Agent nor any
Lender has provided and will not provide any legal, accounting, regulatory or tax advice with
respect to any of the transactions contemplated hereby (including any amendment, waiver or other
modification hereof or of any other Credit Document) and each Borrower has consulted its own legal,
accounting, regulatory and tax advisors to the extent it has deemed appropriate. Each Borrower
hereby waives and releases, to the fullest extent permitted by law, any claims that it may have
against the Administrative Agent or any Lender with respect to any breach or alleged breach of
agency or fiduciary duty.

10.15. Source of Funds.

     Each of the Lenders hereby represents and warrants to the Borrowers that, as to the source of
funds to be used by such Lender in connection with the financing hereunder, no part of such funds
constitutes assets of any “employee benefit plan” as defined in ERISA (or its related trust) or any
“plan” as defined in Section 4975 of the Internal Revenue Code.

10.16. GOVERNING LAW.

     (a) UNLESS OTHERWISE NOTED THEREIN TO THE CONTRARY, THIS AGREEMENT AND THE CREDIT
DOCUMENTS AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES THEREUNDER SHALL IN ALL RESPECTS BE
GOVERNED BY, AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF ILLINOIS
(WITHOUT GIVING EFFECT TO ILLINOIS’ PRINCIPLES OF CONFLICTS OF LAW) AND APPLICABLE UNITED STATES
FEDERAL LAW, EXCEPT FOR THOSE PROVISIONS IN THE CREDIT DOCUMENTS PERTAINING TO THE CREATION,
PERFECTION OR VALIDITY OF OR EXECUTION ON LIENS OR SECURITY INTERESTS ON PROPERTY LOCATED IN THE
STATE WHERE THE PROPERTY IS LOCATED, WHICH PROVISIONS SHALL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE WHERE THE PROPERTY IS LOCATED AND APPLICABLE UNITED STATES
FEDERAL LAW.

     (b) ANY LEGAL ACTION OR PROCEEDING WITH RESPECT TO THIS AGREEMENT OR ANY OTHER CREDIT
DOCUMENT MAY BE BROUGHT IN THE COURTS OF THE STATE OF ILLINOIS SITTING IN CHICAGO OR OF THE UNITED
STATES FOR THE NORTHERN DISTRICT OF SUCH STATE, AND BY EXECUTION AND DELIVERY OF THIS AGREEMENT,
THE BORROWERS, THE ADMINISTRATIVE Agent AND EACH LENDER CONSENTS, FOR ITSELF AND IN RESPECT OF ITS
PROPERTY, TO THE NON-EXCLUSIVE JURISDICTION OF THOSE COURTS. THE BORROWERS, THE ADMINISTRATIVE
AGENT AND EACH LENDER IRREVOCABLY WAIVES ANY OBJECTION, INCLUDING ANY OBJECTION TO THE LAYING OF
VENUE OR BASED ON THE GROUNDS OF FORUM NON CONVENIENS, WHICH IT

112

 

MAY NOW OR HEREAFTER HAVE TO THE
BRINGING OF ANY ACTION OR PROCEEDING IN SUCH JURISDICTION IN RESPECT OF ANY CREDIT DOCUMENT OR
OTHER DOCUMENT RELATED THERETO. THE BORROWERS, THE
ADMINISTRATIVE AGENT AND EACH LENDER WAIVES PERSONAL SERVICE OF ANY SUMMONS, COMPLAINT OR
OTHER PROCESS, WHICH MAY BE MADE BY ANY OTHER MEANS PERMITTED BY THE LAW OF SUCH STATE.

10.17. WAIVER OF RIGHT TO TRIAL BY JURY.

     EACH PARTY TO THIS AGREEMENT HEREBY EXPRESSLY WAIVES ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM,
DEMAND, ACTION OR CAUSE OF ACTION ARISING UNDER ANY CREDIT DOCUMENT OR IN ANY WAY CONNECTED WITH OR
RELATED OR INCIDENTAL TO THE DEALINGS OF THE PARTIES HERETO OR ANY OF THEM WITH RESPECT TO ANY
CREDIT DOCUMENT, OR THE TRANSACTIONS RELATED THERETO, IN EACH CASE WHETHER NOW EXISTING OR
HEREAFTER ARISING, AND WHETHER FOUNDED IN CONTRACT OR TORT OR OTHERWISE; AND EACH PARTY HEREBY
AGREES AND CONSENTS THAT ANY SUCH CLAIM, DEMAND, ACTION OR CAUSE OF ACTION SHALL BE DECIDED BY
COURT TRIAL WITHOUT A JURY, AND THAT ANY PARTY TO THIS AGREEMENT MAY FILE AN ORIGINAL COUNTERPART
OR A COPY OF THIS SECTION WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF THE SIGNATORIES
HERETO TO THE WAIVER OF THEIR RIGHT TO TRIAL BY JURY.

10.18. No Conflict.

     To the extent there is any conflict or inconsistency between the provisions hereof and the
provisions of any other Credit Document, this Credit Agreement shall control.

10.19. USA Patriot Act Notice.

     Each Lender and the Administrative Agent (for itself and not on behalf of any Lender) hereby
notifies the Borrowers that pursuant to the requirements of the USA Patriot Act (Title III of Pub.
L. 107-56 (signed into law October 26, 2001)) (the “Act”), it is required to obtain, verify and
record information that identifies the Borrowers (and to the extent applicable, the Parent), which
information includes the name and address of the respective Borrowers (and to the extent
applicable, the Parent) and other information that will allow such Lender or the Administrative
Agent, as applicable, to identify the Borrowers (and to the extent applicable, the Parent) in
accordance with the Act. The Borrowers shall, promptly following a request by the Administrative
Agent or any Lender, provide all documentation and other information that the Administrative Agent
or such Lender reasonably requests in order to comply with its ongoing obligations under applicable
“know your customer” and anti-money laundering rules and regulations, including the Act.

10.20. Entire Agreement.

     THIS CREDIT AGREEMENT AND THE OTHER CREDIT DOCUMENTS REPRESENT THE FINAL AGREEMENT AMONG THE
PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT

113

 

ORAL
AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS AMONG THE PARTIES.

10.21. California Real Property Assets.

     NOTWITHSTANDING ANYTHING TO THE CONTRARY CONTAINED HEREIN, AT ANY TIME THAT ANY OF THE
OBLIGATIONS SHALL BE SECURED BY REAL PROPERTY ASSETS LOCATED IN CALIFORNIA, NO LENDER SHALL
EXERCISE A RIGHT OF SETOFF, LENDER’S LIEN OR COUNTERCLAIM OR TAKE ANY COURT OR ADMINISTRATIVE
ACTION OR INSTITUTE ANY PROCEEDING TO ENFORCE ANY PROVISION OF THIS AGREEMENT OR ANY CREDIT
DOCUMENT UNLESS IT IS TAKEN WITH THE CONSENT OF THE REQUIRED LENDERS, IF SUCH SETOFF OR ACTION OR
PROCEEDING WOULD OR MIGHT (PURSUANT TO SECTIONS 580a, 580b, 580d AND 726 OF THE CALIFORNIA CODE OF
CIVIL PROCEDURE OR SECTION 2924 OF THE CALIFORNIA CIVIL CODE, IF APPLICABLE, OR OTHERWISE) AFFECT
OR IMPAIR THE VALIDITY, PRIORITY, OR ENFORCEABILITY OF THE LIENS GRANTED TO THE ADMINISTRATIVE
AGENT PURSUANT TO THE COLLATERAL DOCUMENTS OR THE ENFORCEABILITY OF THE OBLIGATIONS HEREUNDER, AND
ANY ATTEMPTED EXERCISE BY ANY LENDER OR ANY SUCH RIGHT WITHOUT OBTAINING SUCH CONSENT OF THE
PARTIES AS REQUIRED ABOVE, SHALL BE NULL AND VOID. THIS SECTION 10.21 SHALL BE SOLELY FOR
THE BENEFIT OF EACH OF THE LENDERS.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK -

SIGNATURE PAGES AND SCHEDULES AND EXHIBITS TO FOLLOW]

114

 

     IN WITNESS WHEREOF, the parties hereto have caused this Credit Agreement to be duly
executed as of the date first above written.

	 	 	 	 	 
	 	PARENT BORROWER:

AVIV FINANCING I, L.L.C.,

a Delaware limited liability company

 	 
	 	By:  	/s/ Craig M. Bernfield
 	 
	 	 	Name:  	 	 
	 	 	Its:Authorized Representative 	 
	 
	 	SUBSIDIARY BORROWERS: 

ALAMOGORDO AVIV, L.L.C.,

a New Mexico limited liability company

ARKANSAS AVIV, L.L.C.,

a Delaware limited liability company

AVIV FOOTHILLS, L.L.C.,

a Delaware limited liability company

AVIV LIBERTY, L.L.C.,

a Delaware limited liability company

AVON OHIO, L.L.C.,

a Delaware limited liability company

BELLEVILLE ILLINOIS, L.L.C.,

a Delaware limited liability company

BELLINGHAM II ASSOCIATES, L.L.C.,

a Delaware limited liability company

BENTON HARBOR, L.L.C.,

an Illinois limited liability company

BHG AVIV, L.L.C.,

a Delaware limited liability company

BONHAM TEXAS, L.L.C.,

a Delaware limited liability company

BURTON NH PROPERTY, L.L.C.,

a Delaware limited liability company

CALIFORNIA AVIV, L.L.C.,

a Delaware limited liability company

CALIFORNIA AVIV TWO, L.L.C.,

a Delaware limited liability company

CAMAS ASSOCIATES, L.L.C.,

a Delaware limited liability company

CASA/SIERRA CALIFORNIA ASSOCIATES,

L.L.C., a Delaware limited liability company

CHENAL ARKANSAS, L.L.C. ,

a Delaware limited liability company

 	 
	 	 	 

[AVIV — CREDIT AGREEMENT]

 

 

	 	 	 	 	 
	 	CHIPPEWA VALLEY, L.L.C.,

an Illinois limited liability company

CLARKSTON CARE, L.L.C.,

a Delaware limited liability company

CLAYTON ASSOCIATES, L.L.C.,

a New Mexico limited liability company

COLONIAL MADISON ASSOCIATES, L.L.C.,

a Delaware limited liability company

COLUMBIA VIEW ASSOCIATES, L.L.C.,

a Delaware limited liability company

COLUMBUS TEXAS AVIV, L.L.C.,

a Delaware limited liability company

COLUMBUS WESTERN AVENUE, L.L.C.,

a Delaware limited liability company

COMMERCE NURSING HOMES, L.L.C.,

an Illinois limited liability company

CR AVIV, L.L.C.,

a Delaware limited liability company

DENISON TEXAS, L.L.C.,

a Delaware limited liability company

EFFINGHAM ASSOCIATES, L.L.C.,

an Illinois limited liability company

ELITE MATTOON, L.L.C.,

a Delaware limited liability company

ELITE YORKVILLE, L.L.C.,

a Delaware limited liability company

FALFURRIAS TEXAS, L.L.C.,

a Delaware limited liability company

FLORENCE HEIGHTS ASSOCIATES, L.L.C.,

a Delaware limited liability company

FOUNTAIN ASSOCIATES, L.L.C.,

a Delaware limited liability company

FOUR FOUNTAINS AVIV, L.L.C.,

a Delaware limited liability company

FREEWATER OREGON, L.L.C.,

a Delaware limited liability company

FULLERTON CALIFORNIA, L.L.C.,

a Delaware limited liability company

GILTEX CARE, L.L.C.,

a Delaware limited liability company

HERITAGE MONTEREY ASSOCIATES,

L.L.C., an Illinois limited liability company

HHM AVIV, L.L.C.,

a Delaware limited liability company

HIGHLAND LEASEHOLD, L.L.C.,

a Delaware limited liability company 

 	 
	 	 	 

[AVIV — CREDIT AGREEMENT]

 

 

	 	 	 	 	 
	 	HOBBS ASSOCIATES, L.L.C.,

an Illinois limited liability company

HOT SPRINGS AVIV, L.L.C.,

a Delaware limited liability company

HOUSTON TEXAS AVIV, L.L.C.,

a Delaware limited liability company

HUTCHINSON KANSAS, L.L.C.,

a Delaware limited liability company

IDAHO ASSOCIATES, L.L.C.,

an Illinois limited liability company

KARAN ASSOCIATES, L.L.C.,

a Delaware limited liability company

KARAN ASSOCIATES TWO, L.L.C.,

a Delaware limited liability company

KB NORTHWEST ASSOCIATES, L.L.C.,

a Delaware limited liability company

KINGSVILLE TEXAS, L.L.C.,

a Delaware limited liability company

LITTLE ROCK AVIV, L.L.C.,

a Delaware limited liability company

MANOR ASSOCIATES, L.L.C.,

a Delaware limited liability company

MANSFIELD AVIV, L.L.C.,

a Delaware limited liability company

MASSACHUSETTS NURSING HOMES,

L.L.C., a Delaware limited liability company

MINNESOTA ASSOCIATES, L.L.C.,

a Delaware limited liability company

MISSOURI ASSOCIATES, L.L.C.,

a Delaware limited liability company

MISSOURI REGENCY ASSOCIATES, L.L.C.,

a Delaware limited liability company

MONTANA ASSOCIATES, L.L.C.,

an Illinois limited liability company

MT. VERNON TEXAS, L.L.C.,

a Delaware limited liability company

N.M. BLOOMFIELD THREE PLUS ONE

LIMITED COMPANY, a New Mexico limited

liability company

N.M. ESPANOLA THREE PLUS ONE LIMITED

COMPANY, a New Mexico limited liability company

N.M. LORDSBURG THREE PLUS ONE LIMITED

COMPANY, a New Mexico limited liability company

N.M. SILVER CITY THREE PLUS ONE LIMITED

COMPANY, a New Mexico limited liability company 

 	 
	 	 	 

[AVIV — CREDIT AGREEMENT]

 

 

	 	 	 	 	 
	 	NORTHRIDGE ARKANSAS, L.L.C., 

a Delaware limited liability company

OAKLAND NURSING HOMES, L.L.C.,

a Delaware limited liability company

OCTOBER ASSOCIATES, L.L.C.,

a Delaware limited liability company

OGDEN ASSOCIATES, L.L.C.,

a Delaware limited liability company

OHIO AVIV, L.L.C.,

a Delaware limited liability company

OMAHA ASSOCIATES, L.L.C.,

a Delaware limited liability company

ORANGE, L.L.C.,

an Illinois limited liability company

OREGON ASSOCIATES, L.L.C.,

a Delaware limited liability company

PEABODY ASSOCIATES, L.L.C.,

a Delaware limited liability company

POMONA VISTA L.L.C.,

an Illinois limited liability company

PRESCOTT ARKANSAS, L.L.C.,

a Delaware limited liability company

RATON PROPERTY LIMITED COMPANY,

a New Mexico limited liability company

RED ROCKS, L.L.C.,

an Illinois limited liability company

RICHLAND WASHINGTON, L.L.C.,

a Delaware limited liability company

RIVERSIDE NURSING HOME ASSOCIATES,

L.L.C., a Delaware limited liability company

ROSE BALDWIN PARK PROPERTY L.L.C.,

an Illinois limited liability company

SALEM ASSOCIATES, L.L.C.,

a Delaware limited liability company

SAN JUAN NH PROPERTY, L.L.C.,

a Delaware limited liability company

SANTA ANA-BARTLETT, L.L.C.,

an Illinois limited liability company

SANTA FE MISSOURI ASSOCIATES, L.L.C.,

an Illinois limited liability company

SAVOY/BONHAM VENTURE, L.L.C.,

a Delaware limited liability company

SEARCY AVIV, L.L.C.,

a Delaware limited liability company

SKYVIEW ASSOCIATES, L.L.C.,

a Delaware limited liability company 

 	 
	 	 	 

[AVIV — CREDIT AGREEMENT]

 

 

	 	 	 	 	 
	 	STAR CITY ARKANSAS, L.L.C.,

a Delaware limited liability company

SUN-MESA PROPERTIES, L.L.C.,

an Illinois limited liability company

TUJUNGA, L.L.C.,

a Delaware limited liability company

VRB AVIV, L.L.C.,

a Delaware limited liability company

WASHINGTON-OREGON ASSOCIATES,

L.L.C., an Illinois limited liability company

WATAUGA ASSOCIATES, L.L.C.,

an Illinois limited liability company

WEST PEARL STREET, L.L.C.,

a Delaware limited liability company

WHEELER HEALTHCARE ASSOCIATES,

L.L.C., a Texas limited liability company

WILLIS TEXAS AVIV, L.L.C.,

a Delaware limited liability company

WOODLAND ARKANSAS, L.L.C.,

a Delaware limited liability company

XION, L.L.C.,

an Illinois limited liability company

YUBA AVIV, L.L.C.,

a Delaware limited liability company
 	 

	 	 	 	 	 
	 	By:  	           AVIV FINANCING I, L.L.C.,
 	 
	 	 	a Delaware limited liability company 	 
	 	 	its sole member 	 
	 

					
	 	
 	 
	 	By:  	/s/ Craig M. Bernfield
 	 
	 	 	Name:  	 	 
	 	 	Its:                    Authorized Representative 	 
	 

[Signatures Continued on Next Page]

[AVIV — CREDIT AGREEMENT]

 

 

	 	 	 	 	 
	ADMINISTRATIVE AGENT:             	GENERAL ELECTRIC CAPITAL 

CORPORATION, as Administrative Agent 

 	 
	 	By:  	/s/ Dave Harper
 	 
	 	 	Dave Harper       	 
	 	 	Its Duly Authorized Signatory 	 
	 

[AVIV — CREDIT AGREEMENT]

 

 

	 	 	 	 	 
	LENDERS:             	GENERAL ELECTRIC CAPITAL 

CORPORATION, as a Lender

 	 
	 	By:  	/s/ Dave Harper
 	 
	 	 	Dave Harper 	 
	 	 	Its Duly Authorized Signatory 	 
	 

[AVIV — CREDIT AGREEMENT]

 

 

	 	 	 	 	 
	 	BANK LEUMI USA, as a Lender

 	 
	 	By:  	/s/ Cary Shinsako
 	 
	 	 	Cary Shinsako 	 
	 	 	First Vice President 	 
	 

[AVIV — CREDIT AGREEMENT]

 

 

	 	 	 	 	 
	 	BANK OF OKLAHOMA, NA, as a Lender

 	 
	 	By:  	/s/ Jessica Johnson
 	 
	 	 	Jessica Johnson 	 
	 	 	Assistant Vice President 	 
	 

[AVIV — CREDIT AGREEMENT]

 

 

	 	 	 	 	 
	 	BANCO POPULAR NORTH AMERICA, 

as a Lender

 	 
	 	By:  	/s/ David E. Varca
 	 
	 	 	David E. Varca 	 
	 	 	Vice President 	 
	 

[AVIV — CREDIT AGREEMENT]

 

 

	 	 	 	 	 
	 	CAPITALSOURCE BANK, a California

Industrial Bank, as a Lender 

 	 
	 	By:  	/s/ Alicia Cook
 	 
	 	 	Alicia Cook 	 
	 	 	Bank Officer 	 
	 

[AVIV — CREDIT AGREEMENT]

 

 

	 	 	 	 	 
	 	CIT BANK, as a Lender

 	 
	 	By:  	/s/ Ben Haslam
 	 
	 	 	Ben Haslam 	 
	 	 	Authorized Signatory 	 
	 

[AVIV — CREDIT AGREEMENT]

 

 

	 	 	 	 	 
	 	FIRSTMERIT BANK, N.A., as a Lender

 	 
	 	By:  	/s/ Matthew W. Hannam
 	 
	 	 	Matthew W. Hannam 	 
	 	 	Vice President 	 
	 

[AVIV — CREDIT AGREEMENT]

 

 

	 	 	 	 	 
	 	ISRAEL DISCOUNT BANK OF NEW 

YOURK, as a Lender 

 	 
	 	By:  	/s/ Kiyoun Kim
 	 
	 	 	Kiyoun Kim 	 
	 	 	Senior Vice President 	 
	 
	 	 	 
	 	By:  	             /s/ Daniel Burdekin
 	 
	 	 	Daniel Burdekin 	 
	 	 	Vice President 	 
	 

[AVIV — CREDIT AGREEMENT]

 

 

	 	 	 	 	 
	 	MB FINANCIAL BANK, N.A., as a Lender 

 	 
	 	By:  	/s/ Jack Sharp
 	 
	 	 	Jack Sharp       	 
	 	 	Senior Vice President 	 
	 

[AVIV — CREDIT AGREEMENT]

 

 

	 	 	 	 	 
	 	THE PRIVATEBANK AND TRUST 

COMPANY, as a Lender

 	 
	 	By:  	/s/ Amy K. Hallberg
 	 
	 	 	Amy K. Hallberg 	 
	 	 	Managing Director 	 
	 

[AVIV — CREDIT AGREEMENT]

 

 

	 	 	 	 	 
	 	ROYAL BANK OF CANADA, as a Lender

 	 
	 	By:  	/s/ Dan LePage
 	 
	 	 	Dan LePage       	 
	 	 	Authorized Signatory 	 
	 

[AVIV — CREDIT AGREEMENT]

 

 

EXHIBIT 6.02(b)

(a) For each Real Property Asset, a statement evidencing the consolidated and individual EBITDARM
and a statement evidencing the consolidated and individual EBITDA for the Real Property Assets for
the most recently completed four fiscal quarters reported on a quarterly basis and a trailing
twelve months basis.

(b) (i) For each Real Property Asset, an Operating Statement containing the following information
for the most recently completed four fiscal quarters reported on a quarterly basis and a trailing
twelve months basis, (ii) for Aviv, a consolidated Operating Statement containing the following
information for the most recently completed four fiscal quarters reported on a quarterly basis and
a trailing twelve months basis and (iii) for each Operating Tenant, a consolidated Operating
Statement containing the following information for each Real Property Asset held by such Operating
Tenant for the most recently completed four fiscal quarters reported on a quarterly basis and a
trailing twelve months basis:

Census & Occupancy

Licensed Beds

Operating Beds

Days in Period

Patient Days — Capacity

Payor Mix — Days &

Percent

Residential Care (RC)

Private

Other

Total Residential Days

Patient Days — Actual

Premium Mix

Occupancy %

Revenue

RC Private

RC Other

Private

Medicare

Medicaid

 

 

Ancillary

Other

Contractual Adjustments

Prior Year Adjustments

Total Revenue

Total Operating Expenses

EBITDARM

Less: Management Fee

EBITDAR

Less: Rent

EBITDA

Less: Depreciation &

Amortization

Less: Income Tax

Less: Interest

Net Income

Rent Coverage

Adjustments

Adjusted EBITDAR

(c) For each Real Property Asset, copies evidencing payment of real estate taxes and insurance
promptly upon receipt.

- 2 -

 

SCHEDULE 1.01

SUBSIDIARY BORROWERS

Alamogordo Aviv, L.L.C., a New Mexico limited liability company

Arkansas Aviv, L.L.C., a Delaware limited liability company

Aviv Foothills, L.L.C., a Delaware limited liability company

Aviv Liberty, L.L.C., a Delaware limited liability company

Avon Ohio, L.L.C., a Delaware limited liability company

Belleville Illinois, L.L.C., a Delaware limited liability company

Bellingham II Associates, L.L.C., a Delaware limited liability company

Benton Harbor, L.L.C., an Illinois limited liability company

BHG Aviv, L.L.C., a Delaware limited liability company

Bonham Texas, L.L.C., a Delaware limited liability company

Burton NH Property, L.L.C., a Delaware limited liability company

California Aviv Two, L.L.C., a Delaware limited liability company

California Aviv, L.L.C., a Delaware limited liability company

Camas Associates, L.L.C., a Delaware limited liability company

Casa/Sierra California Associates, L.L.C., a Delaware limited liability company

Chenal Arkansas, L.L.C., a Delaware limited liability company

Chippewa Valley, L.L.C., an Illinois limited liability company

Clarkston Care, L.L.C., a Delaware limited liability company

Clayton Associates, L.L.C., a New Mexico limited liability company

Colonial Madison Associates, L.L.C., a Delaware limited liability company

Columbia View Associates, L.L.C., a Delaware limited liability company

Columbus Texas Aviv, L.L.C., a Delaware limited liability company

Columbus Western Avenue, L.L.C., a Delaware limited liability company

Commerce Nursing Homes, L.L.C., an Illinois limited liability company

CR Aviv, L.L.C., a Delaware limited liability company

Denison Texas, L.L.C., a Delaware limited liability company

Effingham Associates, L.L.C., an Illinois limited liability company

Elite Mattoon, L.L.C., a Delaware limited liability company

Elite Yorkville, L.L.C., a Delaware limited liability company

Falfurrias Texas, L.L.C., a Delaware limited liability company

Florence Heights Associates, L.L.C., a Delaware limited liability company

Fountain Associates, L.L.C., a Delaware limited liability company

Four Fountains Aviv, L.L.C., a Delaware limited liability company

Freewater Oregon, L.L.C., a Delaware limited liability company

Fullerton California, L.L.C., a Delaware limited liability company

Giltex Care, L.L.C., a Delaware limited liability company

Heritage Monterey Associates, L.L.C., an Illinois limited liability company

HHM Aviv, L.L.C., a Delaware limited liability company

Highland Leasehold, L.L.C., a Delaware limited liability company

Hobbs Associates, L.L.C., an Illinois limited liability company

Hot Springs Aviv, L.L.C., a Delaware limited liability company

Houston Texas Aviv, L.L.C., a Delaware limited liability company

 

 

Hutchinson Kansas, L.L.C., a Delaware limited liability company

Idaho Associates, L.L.C., an Illinois limited liability company

Karan Associates Two, L.L.C., a Delaware limited liability company

Karan Associates, L.L.C., a Delaware limited liability company

KB Northwest Associates, L.L.C., a Delaware limited liability company

Kingsville Texas, L.L.C., a Delaware limited liability company

Little Rock Aviv, L.L.C., a Delaware limited liability company

Manor Associates, L.L.C., a Delaware limited liability company

Mansfield Aviv, L.L.C., a Delaware limited liability company

Massachusetts Nursing Homes, L.L.C., a Delaware limited liability company

Minnesota Associates, L.L.C., a Delaware limited liability company

Missouri Associates, L.L.C., a Delaware limited liability company

Missouri Regency Associates, L.L.C., a Delaware limited liability company

Montana Associates, L.L.C., an Illinois limited liability company

Mt. Vernon Texas, L.L.C., a Delaware limited liability company

N.M. Bloomfield Three Plus One Limited Company, a New Mexico limited liability company

N.M. Espanola Three Plus One Limited Company, a New Mexico limited liability company

N.M. Lordsburg Three Plus One Limited Company, a New Mexico limited liability company

N.M. Silver City Three Plus One Limited Company, a New Mexico limited liability company

Northridge Arkansas, L.L.C., a Delaware limited liability company

Oakland Nursing Homes, L.L.C., a Delaware limited liability company

October Associates, L.L.C., a Delaware limited liability company

Ogden Associates, L.L.C., a Delaware limited liability company

Ohio Aviv, L.L.C., a Delaware limited liability company

Omaha Associates, L.L.C., a Delaware limited liability company

Orange, L.L.C., an Illinois limited liability company

Oregon Associates, L.L.C., a Delaware limited liability company

Peabody Associates, L.L.C., a Delaware limited liability company

Pomona Vista L.L.C., an Illinois limited liability company

Prescott Arkansas, L.L.C., a Delaware limited liability company

Raton Property Limited Company, a New Mexico limited liability company

Red Rocks, L.L.C., an Illinois limited liability company

Richland Washington, L.L.C., a Delaware limited liability company

Riverside Nursing Home Associates, L.L.C., a Delaware limited liability company

Rose Baldwin Park Property L.L.C., an Illinois limited liability company

Salem Associates, L.L.C., a Delaware limited liability company

San Juan NH Property, L.L.C., a Delaware limited liability company

Santa Ana-Bartlett, L.L.C., an Illinois limited liability company

Santa Fe Missouri Associates, L.L.C., an Illinois limited liability company

Savoy/Bonham Venture, L.L.C., a Delaware limited liability company

Searcy Aviv, L.L.C., a Delaware limited liability company

Skyview Associates, L.L.C., a Delaware limited liability company

Star City Arkansas, L.L.C., a Delaware limited liability company

Sun-Mesa Properties, L.L.C., an Illinois limited liability company

Tujunga, L.L.C., a Delaware limited liability company

VRB Aviv, L.L.C., a Delaware limited liability company

 

 

Washington-Oregon Associates, L.L.C., an Illinois limited liability company

Watauga Associates, L.L.C., an Illinois limited liability company

West Pearl Street, L.L.C., a Delaware limited liability company

Wheeler Healthcare Associates, L.L.C., a Texas limited liability company

Willis Texas Aviv, L.L.C., a Delaware limited liability company

Woodland Arkansas, L.L.C., a Delaware limited liability company

Xion, L.L.C., an Illinois limited liability company

Yuba Aviv, L.L.C., a Delaware limited liability company

 

 

SCHEDULE 2.03

AMORTIZATION SCHEDULE — PART I

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Period	 	Date	 	 	Days	 	 	Ending Balance	 	 	Payment	 	 	Interest	 	 	Principal Payment	 
	0
	 	 	10/1/2010	 	 	 	 	 	 	$	405,000,000.00	 	 	 	 	 	 	 	 	 	 	 	 	 
	1
	 	 	11/1/2010	 	 	 	31	 	 	$	404,457,431.57	 	 	$	2,547,880.93	 	 	$	2,005,312.50	 	 	$	542,568.43	 
	2
	 	 	12/1/2010	 	 	 	30	 	 	$	403,847,575.83	 	 	$	2,547,880.93	 	 	$	1,938,025.19	 	 	$	609,855.74	 
	3
	 	 	1/1/2011	 	 	 	31	 	 	$	403,299,301.30	 	 	$	2,547,880.93	 	 	$	1,999,606.40	 	 	$	548,274.53	 
	4
	 	 	2/1/2011	 	 	 	31	 	 	$	402,748,312.05	 	 	$	2,547,880.93	 	 	$	1,996,891.68	 	 	$	550,989.25	 
	5
	 	 	3/1/2011	 	 	 	28	 	 	$	402,001,611.07	 	 	$	2,547,880.93	 	 	$	1,801,179.95	 	 	$	746,700.98	 
	6
	 	 	4/1/2011	 	 	 	31	 	 	$	401,444,196.45	 	 	$	2,547,880.93	 	 	$	1,990,466.31	 	 	$	557,414.62	 
	7
	 	 	5/1/2011	 	 	 	30	 	 	$	400,819,902.30	 	 	$	2,547,880.93	 	 	$	1,923,586.77	 	 	$	624,294.16	 
	8
	 	 	6/1/2011	 	 	 	31	 	 	$	400,256,636.58	 	 	$	2,547,880.93	 	 	$	1,984,615.21	 	 	$	563,265.72	 
	9
	 	 	7/1/2011	 	 	 	30	 	 	$	399,626,652.03	 	 	$	2,547,880.93	 	 	$	1,917,896.38	 	 	$	629,984.55	 
	10
	 	 	8/1/2011	 	 	 	31	 	 	$	399,057,478.07	 	 	$	2,547,880.93	 	 	$	1,978,706.96	 	 	$	569,173.97	 
	11
	 	 	9/1/2011	 	 	 	31	 	 	$	398,485,485.90	 	 	$	2,547,880.93	 	 	$	1,975,888.76	 	 	$	571,992.17	 
	12
	 	 	10/1/2011	 	 	 	30	 	 	$	397,847,014.59	 	 	$	2,547,880.93	 	 	$	1,909,409.62	 	 	$	638,471.31	 
	13
	 	 	11/1/2011	 	 	 	31	 	 	$	397,269,028.95	 	 	$	2,547,880.93	 	 	$	1,969,895.29	 	 	$	577,985.64	 
	14
	 	 	12/1/2011	 	 	 	30	 	 	$	396,624,728.78	 	 	$	2,547,880.93	 	 	$	1,903,580.76	 	 	$	644,300.17	 
	15
	 	 	1/1/2012	 	 	 	31	 	 	$	396,040,691.13	 	 	$	2,547,880.93	 	 	$	1,963,843.28	 	 	$	584,037.65	 
	16
	 	 	2/1/2012	 	 	 	31	 	 	$	395,453,761.67	 	 	$	2,547,880.93	 	 	$	1,960,951.48	 	 	$	586,929.45	 
	17
	 	 	3/1/2012	 	 	 	29	 	 	$	394,737,600.60	 	 	$	2,547,880.93	 	 	$	1,831,719.85	 	 	$	716,161.08	 
	18
	 	 	4/1/2012	 	 	 	31	 	 	$	394,144,219.04	 	 	$	2,547,880.93	 	 	$	1,954,499.37	 	 	$	593,381.56	 
	19
	 	 	5/1/2012	 	 	 	30	 	 	$	393,484,945.82	 	 	$	2,547,880.93	 	 	$	1,888,607.72	 	 	$	659,273.21	 
	20
	 	 	6/1/2012	 	 	 	31	 	 	$	392,885,361.88	 	 	$	2,547,880.93	 	 	$	1,948,296.99	 	 	$	599,583.94	 
	21
	 	 	7/1/2012	 	 	 	30	 	 	$	392,220,056.65	 	 	$	2,547,880.93	 	 	$	1,882,575.69	 	 	$	665,305.24	 
	22
	 	 	8/1/2012	 	 	 	31	 	 	$	391,614,209.75	 	 	$	2,547,880.93	 	 	$	1,942,034.03	 	 	$	605,846.90	 
	23
	 	 	9/1/2012	 	 	 	31	 	 	$	391,005,363.06	 	 	$	2,547,880.93	 	 	$	1,939,034.25	 	 	$	608,846.68	 
	24
	 	 	10/1/2012	 	 	 	30	 	 	$	390,331,049.50	 	 	$	2,547,880.93	 	 	$	1,873,567.36	 	 	$	674,313.57	 
	25
	 	 	11/1/2012	 	 	 	31	 	 	$	389,715,849.39	 	 	$	2,547,880.93	 	 	$	1,932,680.82	 	 	$	615,200.11	 
	26
	 	 	12/1/2012	 	 	 	30	 	 	$	389,035,356.90	 	 	$	2,547,880.93	 	 	$	1,867,388.44	 	 	$	680,492.49	 
	27
	 	 	1/1/2013	 	 	 	31	 	 	$	388,413,741.32	 	 	$	2,547,880.93	 	 	$	1,926,265.34	 	 	$	621,615.59	 
	28
	 	 	2/1/2013	 	 	 	31	 	 	$	387,789,047.87	 	 	$	2,547,880.93	 	 	$	1,923,187.48	 	 	$	624,693.45	 
	29
	 	 	3/1/2013	 	 	 	28	 	 	$	386,975,445.74	 	 	$	2,547,880.93	 	 	$	1,734,278.80	 	 	$	813,602.13	 
	30
	 	 	4/1/2013	 	 	 	31	 	 	$	386,343,630.73	 	 	$	2,547,880.93	 	 	$	1,916,065.92	 	 	$	631,815.01	 
	31
	 	 	5/1/2013	 	 	 	30	 	 	$	385,646,979.70	 	 	$	2,547,880.93	 	 	$	1,851,229.90	 	 	$	696,651.03	 
	32
	 	 	6/1/2013	 	 	 	31	 	 	$	385,008,586.94	 	 	$	2,547,880.93	 	 	$	1,909,488.17	 	 	$	638,392.76	 
	33
	 	 	7/1/2013	 	 	 	30	 	 	$	384,305,538.82	 	 	$	2,547,880.93	 	 	$	1,844,832.81	 	 	$	703,048.12	 
	34
	 	 	8/1/2013	 	 	 	31	 	 	$	383,660,504.06	 	 	$	2,547,880.93	 	 	$	1,902,846.17	 	 	$	645,034.76	 
	35
	 	 	9/1/2013	 	 	 	31	 	 	$	383,012,275.49	 	 	$	2,547,880.93	 	 	$	1,899,652.36	 	 	$	648,228.57	 
	36
	 	 	10/1/2013	 	 	 	30	 	 	$	382,299,661.72	 	 	$	2,547,880.93	 	 	$	1,835,267.15	 	 	$	712,613.78	 
	37
	 	 	11/1/2013	 	 	 	31	 	 	$	381,664,695.08	 	 	$	2,547,880.93	 	 	$	1,892,914.30	 	 	$	654,966.63	 
	38
	 	 	12/1/2013	 	 	 	30	 	 	$	380,925,528.32	 	 	$	2,547,880.93	 	 	$	1,828,714.16	 	 	$	719,166.77	 
	39
	 	 	1/1/2014	 	 	 	31	 	 	$	380,263,757.81	 	 	$	2,547,880.93	 	 	$	1,886,110.43	 	 	$	661,770.50	 
	40
	 	 	2/1/2014	 	 	 	31	 	 	$	379,598,710.63	 	 	$	2,547,880.93	 	 	$	1,882,833.75	 	 	$	665,047.18	 
	41
	 	 	3/1/2014	 	 	 	28	 	 	$	378,748,479.49	 	 	$	2,547,880.93	 	 	$	1,697,649.79	 	 	$	850,231.14	 
	42
	 	 	4/1/2014	 	 	 	31	 	 	$	378,075,929.57	 	 	$	2,547,880.93	 	 	$	1,875,331.01	 	 	$	672,549.92	 
	43
	 	 	5/1/2014	 	 	 	30	 	 	$	377,339,662.47	 	 	$	2,547,880.93	 	 	$	1,811,613.83	 	 	$	736,267.10	 
	44
	 	 	6/1/2014	 	 	 	31	 	 	$	376,660,136.95	 	 	$	2,547,880.93	 	 	$	1,868,355.41	 	 	$	679,525.52	 
	45
	 	 	7/1/2014	 	 	 	30	 	 	$	375,917,085.85	 	 	$	2,547,880.93	 	 	$	1,804,829.82	 	 	$	743,051.11	 

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Period	 	Date	 	 	Days	 	 	Ending Balance	 	 	Payment	 	 	Interest	 	 	Principal Payment	 
	46
	 	 	8/1/2014	 	 	 	31	 	 	$	375,230,516.60	 	 	$	2,547,880.93	 	 	$	1,861,311.68	 	 	$	686,569.25	 
	47
	 	 	9/1/2014	 	 	 	31	 	 	$	374,540,547.88	 	 	$	2,547,880.93	 	 	$	1,857,912.21	 	 	$	689,968.72	 
	48
	 	 	10/1/2014	 	 	 	30	 	 	$	373,787,340.41	 	 	$	2,547,880.93	 	 	$	1,794,673.46	 	 	$	753,207.47	 
	49
	 	 	11/1/2014	 	 	 	31	 	 	$	373,090,225.96	 	 	$	2,547,880.93	 	 	$	1,850,766.48	 	 	$	697,114.45	 
	50
	 	 	12/1/2014	 	 	 	30	 	 	$	372,330,069.03	 	 	$	2,547,880.93	 	 	$	1,787,724.00	 	 	$	760,156.93	 
	51
	 	 	1/1/2015	 	 	 	31	 	 	$	371,625,739.07	 	 	$	2,547,880.93	 	 	$	1,843,550.97	 	 	$	704,329.96	 
	52
	 	 	2/1/2015	 	 	 	31	 	 	$	370,917,921.69	 	 	$	2,547,880.93	 	 	$	1,840,063.56	 	 	$	707,817.37	 
	53
	 	 	3/1/2015	 	 	 	28	 	 	$	370,028,868.14	 	 	$	2,547,880.93	 	 	$	1,658,827.37	 	 	$	889,053.56	 
	54
	 	 	4/1/2015	 	 	 	31	 	 	$	369,313,144.03	 	 	$	2,547,880.93	 	 	$	1,832,156.83	 	 	$	715,724.10	 
	55
	 	 	5/1/2015	 	 	 	30	 	 	$	368,534,888.58	 	 	$	2,547,880.93	 	 	$	1,769,625.48	 	 	$	778,255.45	 
	56
	 	 	6/1/2015	 	 	 	31	 	 	$	367,811,767.21	 	 	$	2,547,880.93	 	 	$	1,824,759.55	 	 	$	723,121.38	 
	57
	 	 	7/1/2015	 	 	 	30	 	 	$	367,026,317.66	 	 	$	2,547,880.93	 	 	$	1,762,431.38	 	 	$	785,449.55	 
	58
	 	 	8/1/2015	 	 	 	31	 	 	$	366,295,726.76	 	 	$	2,547,880.93	 	 	$	1,817,290.03	 	 	$	730,590.90	 
	59
	 	 	9/1/2015	 	 	 	31	 	 	$	365,561,518.42	 	 	$	2,547,880.93	 	 	$	1,813,672.59	 	 	$	734,208.34	 
	60
	 	 	10/1/2015	 	 	 	30	 	 	$	364,765,286.44	 	 	$	2,547,880.93	 	 	$	1,751,648.94	 	 	$	796,231.99	 
	61
	 	 	11/1/2015	 	 	 	31	 	 	$	364,023,500.29	 	 	$	2,547,880.93	 	 	$	1,806,094.79	 	 	$	741,786.14	 
	62
	 	 	12/1/2015	 	 	 	30	 	 	$	363,219,898.63	 	 	$	2,547,880.93	 	 	$	1,744,279.27	 	 	$	803,601.66	 
	63
	 	 	1/1/2016	 	 	 	31	 	 	$	362,470,460.67	 	 	$	2,547,880.93	 	 	$	1,798,442.97	 	 	$	749,437.96	 
	64
	 	 	2/1/2016	 	 	 	31	 	 	$	361,717,311.96	 	 	$	2,547,880.93	 	 	$	1,794,732.21	 	 	$	753,148.72	 
	65
	 	 	3/1/2016	 	 	 	29	 	 	$	360,844,885.52	 	 	$	2,547,880.93	 	 	$	1,675,454.49	 	 	$	872,426.44	 
	66
	 	 	4/1/2016	 	 	 	31	 	 	$	360,083,687.95	 	 	$	2,547,880.93	 	 	$	1,786,683.36	 	 	$	761,197.57	 
	67
	 	 	5/1/2016	 	 	 	30	 	 	$	359,261,208.02	 	 	$	2,547,880.93	 	 	$	1,725,401.00	 	 	$	822,479.93	 
	68
	 	 	6/1/2016	 	 	 	31	 	 	$	358,492,169.04	 	 	$	2,547,880.93	 	 	$	1,778,841.95	 	 	$	769,038.98	 
	69
	 	 	7/1/2016	 	 	 	30	 	 	$	357,662,063.09	 	 	$	2,547,880.93	 	 	$	1,717,774.98	 	 	$	830,105.95	 
	70
	 	 	8/1/2016	 	 	 	31	 	 	$	356,885,106.13	 	 	$	2,547,880.93	 	 	$	1,770,923.97	 	 	$	776,956.96	 
	71
	 	 	9/1/2016	 	 	 	31	 	 	$	356,104,302.15	 	 	$	2,547,880.93	 	 	$	1,767,076.95	 	 	$	780,803.98	 
	72
	 	 	10/1/2016	 	 	 	30	 	 	$	355,262,754.33	 	 	$	2,547,880.93	 	 	$	1,706,333.11	 	 	$	841,547.82	 
	73
	 	 	11/1/2016	 	 	 	31	 	 	$	354,473,917.45	 	 	$	2,547,880.93	 	 	$	1,759,044.05	 	 	$	788,836.88	 
	74
	 	 	12/1/2016	 	 	 	30	 	 	$	353,624,557.38	 	 	$	2,547,880.93	 	 	$	1,698,520.85	 	 	$	849,360.08	 
	75
	 	 	1/1/2017	 	 	 	31	 	 	$	352,827,609.15	 	 	$	2,547,880.93	 	 	$	1,750,932.70	 	 	$	796,948.23	 
	76
	 	 	2/1/2017	 	 	 	31	 	 	$	352,026,714.93	 	 	$	2,547,880.93	 	 	$	1,746,986.70	 	 	$	800,894.23	 
	77
	 	 	3/1/2017	 	 	 	28	 	 	$	351,053,175.69	 	 	$	2,547,880.93	 	 	$	1,574,341.70	 	 	$	973,539.23	 
	78
	 	 	4/1/2017	 	 	 	31	 	 	$	350,243,495.56	 	 	$	2,547,880,93	 	 	$	1,738,200.79	 	 	$	809,680.14	 
	79
	 	 	5/1/2017	 	 	 	30	 	 	$	349,373,864.71	 	 	$	2,547,880.93	 	 	$	1,678,250.08	 	 	$	869,630.85	 
	80
	 	 	6/1/2017	 	 	 	31	 	 	$	348,555,869.65	 	 	$	2,547,880.93	 	 	$	1,729,885.87	 	 	$	817,995.06	 
	81
	 	 	7/1/2017	 	 	 	30	 	 	$	347,678,152.26	 	 	$	2,547,880.93	 	 	$	1,670,163.54	 	 	$	877,717.39	 
	82
	 	 	8/1/2017	 	 	 	31	 	 	$	346,851,761.07	 	 	$	2,547,880.93	 	 	$	1,721,489.74	 	 	$	826,391.19	 
	83
	 	 	9/1/2017	 	 	 	31	 	 	$	346,021,278.10	 	 	$	2,547,880.93	 	 	$	1,717,397.96	 	 	$	830,482.97	 
	84
	 	 	10/1/2017	 	 	 	30	 	 	$	345,131,415.79	 	 	$	2,547,880.93	 	 	$	1,658,018.62	 	 	$	889,862.31	 
	85
	 	 	11/1/2017	 	 	 	31	 	 	$	344,292,414.72	 	 	$	2,547,880.93	 	 	$	1,708,879.86	 	 	$	839,001.07	 
	86
	 	 	12/1/2017	 	 	 	30	 	 	$	343,394,268.28	 	 	$	2,547,880.93	 	 	$	1,649,734.49	 	 	$	898,146.44	 
	87
	 	 	1/1/2018	 	 	 	31	 	 	$	342,546,665.91	 	 	$	2,547,880.93	 	 	$	1,700,278.56	 	 	$	847,602.37	 
	88
	 	 	2/1/2018	 	 	 	31	 	 	$	341,694,866.74	 	 	$	2,547,880.93	 	 	$	1,696,081.76	 	 	$	851,799.17	 
	89
	 	 	3/1/2018	 	 	 	28	 	 	$	340,675,121.19	 	 	$	2,547,880.93	 	 	$	1,528,135.38	 	 	$	1,019,745.55	 
	90
	 	 	4/1/2018	 	 	 	31	 	 	$	339,814,055.27	 	 	$	2,547,880.93	 	 	$	1,686,815.01	 	 	$	861,065.92	 
	91
	 	 	5/1/2018	 	 	 	30	 	 	$	338,894,450.02	 	 	$	2,547,880.93	 	 	$	1,628,275.68	 	 	$	919,605.25	 
	92
	 	 	6/1/2018	 	 	 	31	 	 	$	338,024,567.30	 	 	$	2,547,880.93	 	 	$	1,677,998.21	 	 	$	869,882.72	 
	93
	 	 	7/1/2018	 	 	 	30	 	 	$	337,096,387.42	 	 	$	2,547,880.93	 	 	$	1,619,701.05	 	 	$	928,179.88	 
	94
	 	 	8/1/2018	 	 	 	31	 	 	$	336,217,601.80	 	 	$	2,547,880.93	 	 	$	1,669,095.31	 	 	$	878,785.62	 
	95
	 	 	9/1/2018	 	 	 	31	 	 	$	335,334,464.97	 	 	$	2,547,880.93	 	 	$	1,664,744.10	 	 	$	883,136.83	 

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Period	 	Date	 	 	Days	 	 	Ending Balance	 	 	Payment	 	 	Interest	 	 	Principal Payment	 
	96
	 	 	10/1/2018	 	 	 	30	 	 	$	334,393,395.02	 	 	$	2,547,880.93	 	 	$	1,606,810.98	 	 	$	941,069.95	 
	97
	 	 	11/1/2018	 	 	 	31	 	 	$	333,501,225.83	 	 	$	2,547,880.93	 	 	$	1,655,711.74	 	 	$	892,169.19	 
	98
	 	 	12/1/2018	 	 	 	30	 	 	$	332,551,371.60	 	 	$	2,547,880.93	 	 	$	1,598,026.71	 	 	$	949,854.22	 
	99
	 	 	1/1/2019	 	 	 	31	 	 	$	331,650,081.84	 	 	$	2,547,880.93	 	 	$	1,646,591.17	 	 	$	901,289.76	 
	86
	 	 	12/1/2017	 	 	 	30	 	 	$	343,394,268.28	 	 	$	2,547,880.93	 	 	$	1,649,734.49	 	 	$	898,146.44	 
	87
	 	 	1/1/2018	 	 	 	31	 	 	$	342,546,665.91	 	 	$	2,547,880.93	 	 	$	1,700,278.56	 	 	$	847,602.37	 
	88
	 	 	2/1/2018	 	 	 	31	 	 	$	341,694,866.74	 	 	$	2,547,880.93	 	 	$	1,696,081.76	 	 	$	851,799.17	 
	89
	 	 	3/1/2018	 	 	 	28	 	 	$	340,675,121.19	 	 	$	2,547,880.93	 	 	$	1,528,135.38	 	 	$	1,019,745.55	 
	90
	 	 	4/1/2018	 	 	 	31	 	 	$	339,814,055.27	 	 	$	2,547,880.93	 	 	$	1,686,815.01	 	 	$	861,065.92	 
	91
	 	 	5/1/2018	 	 	 	30	 	 	$	338,894,450.02	 	 	$	2,547,880.93	 	 	$	1,628,275.68	 	 	$	919,605.25	 
	92
	 	 	6/1/2018	 	 	 	31	 	 	$	338,024,567.30	 	 	$	2,547,880.93	 	 	$	1,677,998.21	 	 	$	869,882.72	 
	93
	 	 	7/1/2018	 	 	 	30	 	 	$	337,096,387.42	 	 	$	2,547,880.93	 	 	$	1,619,701.05	 	 	$	928,179.88	 
	94
	 	 	8/1/2018	 	 	 	31	 	 	$	336,217,601.80	 	 	$	2,547,880.93	 	 	$	1,669,095.31	 	 	$	878,785.62	 
	95
	 	 	9/1/2018	 	 	 	31	 	 	$	335,334,464.97	 	 	$	2,547,880.93	 	 	$	1,664,744.10	 	 	$	883,136.83	 
	96
	 	 	10/1/2018	 	 	 	30	 	 	$	334,393,395.02	 	 	$	2,547,880.93	 	 	$	1,606,810.98	 	 	$	941,069.95	 
	97
	 	 	11/1/2018	 	 	 	31	 	 	$	333,501,225.83	 	 	$	2,547,880.93	 	 	$	1,655,711.74	 	 	$	892,169.19	 
	98
	 	 	12/1/2018	 	 	 	30	 	 	$	332,551,371.60	 	 	$	2,547,880.93	 	 	$	1,598,026.71	 	 	$	949,854.22	 
	99
	 	 	1/1/2019	 	 	 	31	 	 	$	331,650,081.84	 	 	$	2,547,880.93	 	 	$	1,646,591.17	 	 	$	901,289.76	 
	100
	 	 	2/1/2019	 	 	 	31	 	 	$	330,744,329.44	 	 	$	2,547,880.93	 	 	$	1,642,128.53	 	 	$	905,752.40	 
	101
	 	 	3/1/2019	 	 	 	28	 	 	$	329,675,610.65	 	 	$	2,547,880.93	 	 	$	1,479,162.14	 	 	$	1,068,718.79	 
	102
	 	 	4/1/2019	 	 	 	31	 	 	$	328,760,081.88	 	 	$	2,547,880.93	 	 	$	1,632,352.16	 	 	$	915,528.77	 
	103
	 	 	5/1/2019	 	 	 	30	 	 	$	327,787,509.67	 	 	$	2,547,880.93	 	 	$	1,575,308.73	 	 	$	972,572.20	 
	104
	 	 	6/1/2019	 	 	 	31	 	 	$	326,862,632.17	 	 	$	2,547,880.93	 	 	$	1,623,003.43	 	 	$	924,877.50	 
	105
	 	 	7/1/2019	 	 	 	30	 	 	$	325,880,968.02	 	 	$	2,547,880.93	 	 	$	1,566,216.78	 	 	$	981,664.15	 
	106
	 	 	8/1/2019	 	 	 	31	 	 	$	324,946,650.50	 	 	$	2,547,880.93	 	 	$	1,613,563.40	 	 	$	934,317.53	 
	107
	 	 	9/1/2019	 	 	 	31	 	 	$	324,007,706.80	 	 	$	2,547,880.93	 	 	$	1,608,937.23	 	 	$	938,943.70	 
	108
	 	 	10/1/2019	 	 	 	30	 	 	$	323,012,362.80	 	 	$	2,547,880.93	 	 	$	1,552,536.93	 	 	$	995,344.00	 
	109
	 	 	11/1/2019	 	 	 	31	 	 	$	322,063,841.70	 	 	$	2,547,880.93	 	 	$	1,599,359.82	 	 	$	948,521.11	 
	110
	 	 	12/1/2019	 	 	 	30	 	 	$	321,059,183.34	 	 	$	2,547,880.93	 	 	$	1,543,222.57	 	 	$	1,004,658.36	 
	111
	 	 	1/1/2020	 	 	 	31	 	 	$	320,100,991.28	 	 	$	2,547,880.93	 	 	$	1,589,688.87	 	 	$	958,192.06	 
	112
	 	 	2/1/2020	 	 	 	31	 	 	$	319,138,054.84	 	 	$	2,547,880.93	 	 	$	1,584,944.49	 	 	$	962,936.44	 
	113
	 	 	3/1/2020	 	 	 	29	 	 	$	318,068,403.65	 	 	$	2,547,880.93	 	 	$	1,478,229.74	 	 	$	1,069,651.19	 
	114
	 	 	4/1/2020	 	 	 	31	 	 	$	317,095,403.08	 	 	$	2,547,880.93	 	 	$	1,574,880.36	 	 	$	973,000.57	 
	115
	 	 	5/1/2020	 	 	 	30	 	 	$	316,066,937.63	 	 	$	2,547,880.93	 	 	$	1,519,415.47	 	 	$	1,028,465.46	 
	116
	 	 	6/1/2020	 	 	 	31	 	 	$	315,084,027.02	 	 	$	2,547,880.93	 	 	$	1,564,970.32	 	 	$	982,910.61	 
	117
	 	 	7/1/2020	 	 	 	30	 	 	$	314,045,923.72	 	 	$	2,547,880.93	 	 	$	1,509,777.63	 	 	$	1,038,103.30	 
	118
	 	 	8/1/2020	 	 	 	31	 	 	$	313,053,006.29	 	 	$	2,547,880.93	 	 	$	1,554,963.50	 	 	$	992,917.43	 
	119
	 	 	9/1/2020	 	 	 	31	 	 	$	312,055,172.53	 	 	$	2,547,880.93	 	 	$	1,550,047.18	 	 	$	997,833.75	 
	120
	 	 	10/1/2020	 	 	 	30	 	 	$	311,002,555.97	 	 	$	2,547,880.93	 	 	$	1,495,264.37	 	 	$	1,052,616.56	 
	121
	 	 	11/1/2020	 	 	 	31	 	 	$	309,994,569.64	 	 	$	2,547,880.93	 	 	$	1,539,894.60	 	 	$	1,007,986.33	 
	122
	 	 	12/1/2020	 	 	 	30	 	 	$	308,932,079.36	 	 	$	2,547,880.93	 	 	$	1,485,390.65	 	 	$	1,062,490.28	 
	123
	 	 	1/1/2021	 	 	 	31	 	 	$	307,913,841.29	 	 	$	2,547,880.93	 	 	$	1,529,642.87	 	 	$	l,018,238,06	 
	124
	 	 	2/1/2021	 	 	 	31	 	 	$	306,890,561.54	 	 	$	2,547,880.93	 	 	$	1,524,601.17	 	 	$	1,023,279.76	 
	125
	 	 	3/1/2021	 	 	 	28	 	 	$	305,715,163.40	 	 	$	2,547,880.93	 	 	$	1,372,482.79	 	 	$	1,175,398.14	 
	126
	 	 	4/1/2021	 	 	 	31	 	 	$	304,680,997.13	 	 	$	2,547,880.93	 	 	$	1.513,714.66	 	 	$	1,034,166.27	 
	127
	 	 	5/1/2021	 	 	 	30	 	 	$	303,593,045.98	 	 	$	2,547,880.93	 	 	$	1,459,929.78	 	 	$	1,087,951.15	 
	128
	 	 	6/1/2021	 	 	 	31	 	 	$	302,548,372.28	 	 	$	2,547,880.93	 	 	$	1,503,207.23	 	 	$	1,044,673.70	 
	129
	 	 	7/1/2021	 	 	 	30	 	 	$	301,450,202.30	 	 	$	2,547,880.93	 	 	$	1,449,710.95	 	 	$	1,098,169.98	 
	130
	 	 	8/1/2021	 	 	 	31	 	 	$	300,394,918.55	 	 	$	2,547,880.93	 	 	$	1,492,597.18	 	 	$	1,055,283.75	 
	131
	 	 	9/1/2021	 	 	 	31	 	 	$	299,334,409.69	 	 	$	2,547,880.93	 	 	$	1,487,372.06	 	 	$	1,060,508.87	 

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Period	 	Date	 	 	Days	 	 	Ending Balance	 	 	Payment	 	 	Interest	 	 	Principal Payment	 
	132
	 	 	10/1/2021	 	 	 	30	 	 	$	298,220,839.47	 	 	$	2,547,880.93	 	 	$	1,434,310.71	 	 	$	1,113,570.22	 
	133
	 	 	11/1/2021	 	 	 	31	 	 	$	297,149,565.89	 	 	$	2,547,880.93	 	 	$	1,476,607.35	 	 	$	1,071,273.58	 
	134
	 	 	12/1/2021	 	 	 	30	 	 	$	296,025,526.63	 	 	$	2,547,880.93	 	 	$	1,423,841.67	 	 	$	1,124,039.26	 
	135
	 	 	1/1/2022	 	 	 	31	 	 	$	294,943,383.20	 	 	$	2,547,880.93	 	 	$	1,465,737.50	 	 	$	1,082,143.43	 
	136
	 	 	2/1/2022	 	 	 	31	 	 	$	293,855,881.66	 	 	$	2,547,880.93	 	 	$	1,460,379.39	 	 	$	1,087,501.54	 
	137
	 	 	3/1/2022	 	 	 	28	 	 	$	292,622,189.54	 	 	$	2,547,880.93	 	 	$	1,314,188.80	 	 	$	1,233,692.13	 
	138
	 	 	4/1/2022	 	 	 	31	 	 	$	291,523,194.87	 	 	$	2,547,880.93	 	 	$	1,448,886.26	 	 	$	1,098,994.67	 
	139
	 	 	5/1/2022	 	 	 	30	 	 	$	290,372,195.91	 	 	$	2,547,880.93	 	 	$	1,396,881.98	 	 	$	1,150,998.95	 
	140
	 	 	6/1/2022	 	 	 	31	 	 	$	289,262,060.65	 	 	$	2,547,880.93	 	 	$	1,437,745.66	 	 	$	1,110,135.27	 
	141
	 	 	7/1/2022	 	 	 	30	 	 	$	288,100,227.09	 	 	$	2,547,880.93	 	 	$	1,386,047.37	 	 	$	1,161,833.56	 
	142
	 	 	8/1/2022	 	 	 	31	 	 	$	286,978,842.42	 	 	$	2,547,880.93	 	 	$	1,426,496.26	 	 	$	1,121,384.67	 
	143
	 	 	9/1/2022	 	 	 	31	 	 	$	285,851,905.34	 	 	$	2,547,880.93	 	 	$	1,420,943.85	 	 	$	1,126,937.08	 
	144
	 	 	10/1/2022	 	 	 	30	 	 	$	284,673,731.46	 	 	$	2,547,880.93	 	 	$	1,369,707.05	 	 	$	1,178,173.88	 
	145
	 	 	11/1/2022	 	 	 	31	 	 	$	283,535,380.88	 	 	$	2,547,880.93	 	 	$	1,409,530.35	 	 	$	1,138,350.58	 
	146
	 	 	12/1/2022	 	 	 	30	 	 	$	282,346,106.99	 	 	$	2,547,880.93	 	 	$	1,358,607.03	 	 	$	1,189,273.90	 
	147
	 	 	1/1/2023	 	 	 	31	 	 	$	281,196,231.43	 	 	$	2,547,880.93	 	 	$	1,398,005.38	 	 	$	1,149,875.55	 
	148
	 	 	2/1/2023	 	 	 	31	 	 	$	280,040,662.40	 	 	$	2,547,880.93	 	 	$	1,392,311.90	 	 	$	1,155,569.03	 
	149
	 	 	3/1/2023	 	 	 	28	 	 	$	278,745,185.54	 	 	$	2,547,880.93	 	 	$	1,252,404.07	 	 	$	1,295,476.86	 
	150
	 	 	4/1/2023	 	 	 	31	 	 	$	277,577,480.43	 	 	$	2,547,880.93	 	 	$	1,380,175.81	 	 	$	1,167,705.12	 
	151
	 	 	5/1/2023	 	 	 	30	 	 	$	276,359,658.26	 	 	$	2,547,880.93	 	 	$	1,330,058.76	 	 	$	1,217,822.17	 
	152
	 	 	6/1/2023	 	 	 	31	 	 	$	275,180,141.47	 	 	$	2,547,880.93	 	 	$	1,368,364.14	 	 	$	1,179,516.79	 
	153
	 	 	7/1/2023	 	 	 	30	 	 	$	273,950,832.05	 	 	$	2,547,880.93	 	 	$	1,318,571.51	 	 	$	1,229,309.42	 
	154
	 	 	8/1/2023	 	 	 	31	 	 	$	272,759,388.23	 	 	$	2,547,880.93	 	 	$	1,356,437.11	 	 	$	1,191,443.82	 
	155
	 	 	9/1/2023	 	 	 	31	 	 	$	271,562,045.10	 	 	$	2,547,880.93	 	 	$	1,350,537.80	 	 	$	1,197,343.13	 
	156
	 	 	10/1/2023	 	 	 	30	 	 	$	270,315,398.97	 	 	$	2,547,880.93	 	 	$	1,301,234.80	 	 	$	1,246,646.13	 
	157
	 	 	11/1/2023	 	 	 	31	 	 	$	269,105,954.70	 	 	$	2,547,880.93	 	 	$	1,338,436.66	 	 	$	1,209,444.27	 
	158
	 	 	12/1/2023	 	 	 	30	 	 	$	267,847,539.80	 	 	$	2,547,880.93	 	 	$	1,289,466.03	 	 	$	1,258,414.90	 
	159
	 	 	1/1/2024	 	 	 	31	 	 	$	266,625,876.21	 	 	$	2,547,880.93	 	 	$	1,326,217.33	 	 	$	1,221,663.60	 
	160
	 	 	2/1/2024	 	 	 	31	 	 	$	265,398,163.68	 	 	$	2,547,880.93	 	 	$	1,320,168.40	 	 	$	1,227,712.53	 
	161
	 	 	3/1/2024	 	 	 	29	 	 	$	264,079,592.30	 	 	$	2,547,880.93	 	 	$	1,229,309.55	 	 	$	1,318,571.38	 
	162
	 	 	4/1/2024	 	 	 	31	 	 	$	262,839,272.13	 	 	$	2,547,880.93	 	 	$	1,307,560.76	 	 	$	1,240,320.17	 
	163
	 	 	5/1/2024	 	 	 	30	 	 	$	261,550,829.38	 	 	$	2,547,880.93	 	 	$	1,259,438.18	 	 	$	1,288,442.75	 
	164
	 	 	6/1/2024	 	 	 	31	 	 	$	260,297,988.32	 	 	$	2,547,880.93	 	 	$	1,295,039.87	 	 	$	1,252,841.06	 
	165
	 	 	7/1/2024	 	 	 	30	 	 	$	258,997,368.58	 	 	$	2,547,880.93	 	 	$	1,247,261.19	 	 	$	1,300,619.74	 
	166
	 	 	8/1/2024	 	 	 	31	 	 	$	257,731,884.34	 	 	$	2,547,880.93	 	 	$	1,282,396.69	 	 	$	1,265.484.24	 
	167
	 	 	9/1/2024	 	 	 	31	 	 	$	256,460,134.20	 	 	$	2,547,880.93	 	 	$	1,276,130.79	 	 	$	1,271,750.14	 
	168
	 	 	10/1/2024	 	 	 	30	 	 	$	255,141,124.75	 	 	$	2,547,880.93	 	 	$	1,228,871.48	 	 	$	1,319,009.45	 
	169
	 	 	11/1/2024	 	 	 	31	 	 	$	253,856,546.75	 	 	$	2,547,880.93	 	 	$	1,263,302.93	 	 	$	1,284,578.00	 
	170
	 	 	12/1/2024	 	 	 	30	 	 	$	252,525,061.77	 	 	$	2,547,880.93	 	 	$	1,216,395.95	 	 	$	1,331,484,98	 
	171
	 	 	1/1/2025	 	 	 	31	 	 	$	251,227,530.63	 	 	$	2,547,880.93	 	 	$	1,250,349.79	 	 	$	1,297,531.14	 
	172
	 	 	2/1/2025	 	 	 	31	 	 	$	249,923,574.90	 	 	$	2,547,880.93	 	 	$	1,243,925.20	 	 	$	1,303,955.73	 
	173
	 	 	3/1/2025	 	 	 	28	 	 	$	248,493,407.74	 	 	$	2,547,880.93	 	 	$	1,117,713.77	 	 	$	1,430,167.16	 
	174
	 	 	4/1/2025	 	 	 	31	 	 	$	247,175,914.30	 	 	$	2,547,880.93	 	 	$	1,230,387.50	 	 	$	1,317,493.43	 
	175
	 	 	5/1/2025	 	 	 	30	 	 	$	245,812,417.96	 	 	$	2,547,880.93	 	 	$	1,184,384.59	 	 	$	1,363,496.34	 
	176
	 	 	6/1/2025	 	 	 	31	 	 	$	244,481,649.91	 	 	$	2,547,880.93	 	 	$	1,217,112.88	 	 	$	1,330,768.05	 
	177
	 	 	7/1/2025	 	 	 	30	 	 	$	243,105,243.55	 	 	$	2,547,880.93	 	 	$	1,171,474.57	 	 	$	1,376,406.36	 
	178
	 	 	8/1/2025	 	 	 	31	 	 	$	241,761,071.22	 	 	$	2,547,880.93	 	 	$	1,203,708.60	 	 	$	1,344,172.33	 
	179
	 	 	9/1/2025	 	 	 	31	 	 	$	240,410,243.37	 	 	$	2,547,880.93	 	 	$	1,197,053.08	 	 	$	1,350,827.85	 
	180
	 	 	10/1/2025	 	 	 	30	 	 	$	239,014,328.19	 	 	$	2,547,880.93	 	 	$	1,151,965.75	 	 	$	1,395,915.18	 
	181
	 	 	11/1/2025	 	 	 	31	 	 	$	237,649,900.15	 	 	$	2.547.880.93	 	 	$	1,183,452.89	 	 	$	1,364,428.04	 

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Period	 	Date	 	Days	 	 	Ending Balance	 	 	Payment	 	 	Interest	 	 	Principal Payment	 
	182

	 	12/1/2025
	 	 	30	 	 	$	236,240,758.33	 	 	$	2,547,880.93	 	 	$	1,138,739.10	 	 	$	1,409,141.83	 
	183

	 	1/1/2026
	 	 	31	 	 	$	234,862,597.26	 	 	$	2,547,880.93	 	 	$	1,169,719.87	 	 	$	1,378,161.06	 
	184

	 	2/1/2026
	 	 	31	 	 	$	233,477,612.39	 	 	$	2,547,880.93	 	 	$	1,162,896.05	 	 	$	1,384,984.88	 
	185

	 	3/1/2026
	 	 	28	 	 	$	231,973,895.22	 	 	$	2,547,880.93	 	 	$	1,044,163.77	 	 	$	1,503,717.16	 
	186

	 	4/1/2026
	 	 	31	 	 	$	230,574,607.26	 	 	$	2,547,880.93	 	 	$	1,148,592.97	 	 	$	1,399,287.96	 
	187

	 	5/1/2026
	 	 	30	 	 	$	229,131,562.99	 	 	$	2,547,880.93	 	 	$	1,104,836.66	 	 	$	1,443,044.27	 
	188

	 	6/1/2026
	 	 	31	 	 	$	227,718,201.54	 	 	$	2,547,880.93	 	 	$	1,134,519.48	 	 	$	1,413,361.45	 
	189

	 	7/1/2026
	 	 	30	 	 	$	226,261,470.32	 	 	$	2,547,880.93	 	 	$	1,091,149.72	 	 	$	1,456,731.21	 
	190

	 	8/1/2026
	 	 	31	 	 	$	224,833,897.92	 	 	$	2,547,880.93	 	 	$	1,120,308.53	 	 	$	1,427,572.40	 
	191

	 	9/1/2026
	 	 	31	 	 	$	223,399,257.06	 	 	$	2,547,880.93	 	 	$	1,113,240.06	 	 	$	1,434,640.87	 
	192

	 	10/1/2026
	 	 	30	 	 	$	221,921,830.90	 	 	$	2,547,880.93	 	 	$	1,070,454.77	 	 	$	1,477,426.16	 
	193

	 	11/1/2026
	 	 	31	 	 	$	220,472,771.26	 	 	$	2,547,880.93	 	 	$	1,098,821.29	 	 	$	1,449,059.64	 
	194

	 	12/1/2026
	 	 	30	 	 	$	218,981,322.36	 	 	$	2,547,880.93	 	 	$	1,056,432.03	 	 	$	1,491,448.90	 
	195

	 	1/1/2027
	 	 	31	 	 	$	217,517,703.11	 	 	$	2,547,880.93	 	 	$	1,084,261.69	 	 	$	1,463,619.24	 
	196

	 	2/1/2027
	 	 	31	 	 	$	216,046,836.92	 	 	$	2,547,880.93	 	 	$	1,077,014.74	 	 	$	1,470,866.19	 
	197

	 	3/1/2027
	 	 	28	 	 	$	214,465,165.46	 	 	$	2,547,880.93	 	 	$	966,209.47	 	 	$	1,581,671.46	 
	198

	 	4/1/2027
	 	 	31	 	 	$	212,979,184.96	 	 	$	2,547,880.93	 	 	$	1,061,900.44	 	 	$	1,485,980.49	 
	199

	 	5/1/2027
	 	 	30	 	 	$	211,451,829.30	 	 	$	2,547,880.93	 	 	$	1,020,525.26	 	 	$	1,527,355.67	 
	200

	 	6/1/2027
	 	 	31	 	 	$	209,950,928.60	 	 	$	2,547,880.93	 	 	$	1,046,980.24	 	 	$	1,500,900.69	 
	201

	 	7/1/2027
	 	 	30	 	 	$	208,409,062.54	 	 	$	2,547,880.93	 	 	$	1,006,014.87	 	 	$	1,541,866.06	 
	202

	 	8/1/2027
	 	 	31	 	 	$	206,893,095.93	 	 	$	2,547,880.93	 	 	$	1,031,914.32	 	 	$	1,515,966.61	 
	203

	 	9/1/2027
	 	 	31	 	 	$	205,369,623.17	 	 	$	2,547,880.93	 	 	$	1,024,408.18	 	 	$	1,523,472.75	 
	204

	 	10/1/2027
	 	 	30	 	 	$	203,805,805.02	 	 	$	2,547,880.93	 	 	$	984,062.78	 	 	$	1,563,818.15	 
	205

	 	11/1/2027
	 	 	31	 	 	$	202,267,045.89	 	 	$	2,547,880.93	 	 	$	1,009,121.80	 	 	$	1,538,759.13	 
	206

	 	12/1/2027
	 	 	30	 	 	$	200,688,361.22	 	 	$	2,547,880.93	 	 	$	969,196.26	 	 	$	1,578,684.67	 
	207

	 	1/1/2028
	 	 	31	 	 	$	199,134,166.41	 	 	$	2,547,880.93	 	 	$	993,686.12	 	 	$	1,554,194.81	 
	208

	 	2/1/2028
	 	 	31	 	 	$	197,572,276.18	 	 	$	2,547,880.93	 	 	$	985,990.70	 	 	$	1,561,890.23	 
	209

	 	3/1/2028
	 	 	29	 	 	$	195,939,539.06	 	 	$	2,547,880.93	 	 	$	915,143.81	 	 	$	1,632,737.12	 
	210

	 	4/1/2028
	 	 	31	 	 	$	194,361,830.98	 	 	$	2,547,880.93	 	 	$	970,172.86	 	 	$	1,577,708.07	 
	211

	 	5/1/2028
	 	 	30	 	 	$	192,745,267.16	 	 	$	2,547,880.93	 	 	$	931,317.11	 	 	$	1,616,563.82	 
	212

	 	6/1/2028
	 	 	31	 	 	$	191,151,743.01	 	 	$	2,547,880.93	 	 	$	954,356.77	 	 	$	1,593,524.16	 
	213

	 	7/1/2028
	 	 	30	 	 	$	189,519,797.51	 	 	$	2,547,880.93	 	 	$	915,935.44	 	 	$	1,631,945.49	 
	214

	 	8/1/2028
	 	 	31	 	 	$	187,910,302.80	 	 	$	2,547,880.93	 	 	$	938,386.22	 	 	$	1,609,494.71	 
	215

	 	9/1/2028
	 	 	31	 	 	$	186,292,838.86	 	 	$	2,547,880.93	 	 	$	930,416.99	 	 	$	1,617,463.94	 
	216

	 	10/1/2028
	 	 	30	 	 	$	184,637,611.11	 	 	$	2,547,880.93	 	 	$	892,653.19	 	 	$	1,655,227.74	 
	217

	 	11/1/2028
	 	 	31	 	 	$	183,003,942.80	 	 	$	2,547,880.93	 	 	$	914,212.62	 	 	$	1,633.668.31	 
	218

	 	12/1/2028
	 	 	30	 	 	$	181,332,955.76	 	 	$	2,547,880.93	 	 	$	876,893.89	 	 	$	1,670,987.04	 
	219

	 	1/1/2029
	 	 	31	 	 	$	179,682,924.81	 	 	$	2,547,880.93	 	 	$	897,849.98	 	 	$	1,650,030.95	 
	220

	 	2/1/2029
	 	 	31	 	 	$	178,024,723.92	 	 	$	2,547,880.93	 	 	$	889,680.04	 	 	$	1,658,200.89	 
	221

	 	3/1/2029
	 	 	28	 	 	$	176,273,009.12	 	 	$	2,547,880.93	 	 	$	796,166.13	 	 	$	1,751,714.80	 
	222

	 	4/1/2029
	 	 	31	 	 	$	174,597,924.41	 	 	$	2,547,880.93	 	 	$	872,796.22	 	 	$	1,675,084.71	 
	223

	 	5/1/2029
	 	 	30	 	 	$	172,886,658.53	 	 	$	2,547,880.93	 	 	$	836,615.05	 	 	$	1,711,265.88	 
	224

	 	6/1/2029
	 	 	31	 	 	$	171,194,806.68	 	 	$	2,547,880.93	 	 	$	856,029.08	 	 	$	1,691,851.85	 
	225

	 	7/1/2029
	 	 	30	 	 	$	169,467,234.20	 	 	$	2,547,880.93	 	 	$	820,308.45	 	 	$	1,727,572.48	 
	226

	 	8/1/2029
	 	 	31	 	 	$	167,758,451.45	 	 	$	2,547,880.93	 	 	$	839,098.18	 	 	$	1,708,782.75	 
	227

	 	9/1/2029
	 	 	31	 	 	$	166,041,207.85	 	 	$	2,547,880.93	 	 	$	830,637.33	 	 	$	1,717,243.60	 
	228

	 	10/1/2029
	 	 	30	 	 	$	164,288,941.04	 	 	$	2,547,880.93	 	 	$	795,614.12	 	 	$	1,752,266.81	 
	229

	 	11/1/2029
	 	 	31	 	 	$	162,554,518.55	 	 	$	2,547,880.93	 	 	$	813,458.44	 	 	$	1,734,422.49	 
	230

	 	12/1/2029
	 	 	30	 	 	$	160,785,544.69	 	 	$	2,547,880.93	 	 	$	778,907.07	 	 	$	1,768,973.86	 
	231

	 	1/1/2030
	 	 	31	 	 	$	159,033,775.52	 	 	$	2,547,880.93	 	 	$	793,111.76	 	 	$	1,751,769.17	 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Period	 	Date	 	 	Days	 	 	Ending Balance	 	 	Payment	 	 	Interest	 	 	Principal Payment	 
	232
	 	 	2/1/2030	 	 	 	31	 	 	$	157,273,332.66	 	 	$	2,547,880.93	 	 	$	787,438.07	 	 	$	1,760,442.86	 
	233
	 	 	3/1/2030	 	 	 	28	 	 	$	155,428,813.02	 	 	$	2,547,880.93	 	 	$	703,361.29	 	 	$	1,844,519.64	 
	234
	 	 	4/1/2030	 	 	 	31	 	 	$	153,650,520.59	 	 	$	2,547,880.93	 	 	$	769,588.50	 	 	$	1,778,292.43	 
	235
	 	 	5/1/2030	 	 	 	30	 	 	$	151,838,881.74	 	 	$	2,547,880.93	 	 	$	736,242.08	 	 	$	1,811,638.85	 
	236
	 	 	6/1/2030	 	 	 	31	 	 	$	150,042,814.16	 	 	$	2,547,880.93	 	 	$	751,813.35	 	 	$	1,796,067.58	 
	237
	 	 	7/1/2030	 	 	 	30	 	 	$	148,213,888.38	 	 	$	2,547,880.93	 	 	$	718,955.15	 	 	$	1,828,925.78	 
	238
	 	 	8/1/2030	 	 	 	31	 	 	$	146,399,872.05	 	 	$	2,547,880.93	 	 	$	733,864,60	 	 	$	1,814,016.33	 
	239
	 	 	9/1/2030	 	 	 	31	 	 	$	144,576,873.82	 	 	$	2,547,880.93	 	 	$	724,882.70	 	 	$	1,822,998.23	 
	240
	 	 	10/1/2030	 	 	 	30	 	 	$	142,721,757.08	 	 	$	2,547,880.93	 	 	$	692,764.19	 	 	$	1,855,116.74	 
	241
	 	 	11/1/2030	 	 	 	31	 	 	$	140,880,547.07	 	 	$	2,547,880.93	 	 	$	706,670.92	 	 	$	1,841,210.01	 
	242
	 	 	12/1/2030	 	 	 	30	 	 	$	139,007,718.76	 	 	$	2,547,880.93	 	 	$	675,052.62	 	 	$	1,872,828.31	 
	243
	 	 	1/1/2031	 	 	 	31	 	 	$	137,148,119.10	 	 	$	2,547,880.93	 	 	$	688,281.27	 	 	$	1,859,599.66	 
	244
	 	 	2/1/2031	 	 	 	31	 	 	$	135,279,311.85	 	 	$	2,547,880.93	 	 	$	679,073.67	 	 	$	1,868,807.26	 
	245
	 	 	3/1/2031	 	 	 	28	 	 	$	133,336,430.06	 	 	$	2,547,880.93	 	 	$	604,999.14	 	 	$	1,942,881.79	 
	246
	 	 	4/1/2031	 	 	 	31	 	 	$	131,448,749.65	 	 	$	2,547,880.93	 	 	$	660,200.52	 	 	$	1,887,680.41	 
	247
	 	 	5/1/2031	 	 	 	30	 	 	$	129,530,727.31	 	 	$	2,547,880.93	 	 	$	629,858.59	 	 	$	1,918,022.34	 
	248
	 	 	6/1/2031	 	 	 	31	 	 	$	127,624,203.39	 	 	$	2,547,880.93	 	 	$	641,357.00	 	 	$	1,906,523.93	 
	249
	 	 	7/1/2031	 	 	 	30	 	 	$	125,687,855.10	 	 	$	2,547,880.93	 	 	$	611,532.64	 	 	$	1,936,348.29	 
	250
	 	 	8/1/2031	 	 	 	31	 	 	$	123,762,303.62	 	 	$	2,547,880.93	 	 	$	622,329.45	 	 	$	1,925,551.48	 
	251
	 	 	9/1/2031	 	 	 	31	 	 	$	121,827,217.98	 	 	$	2,547,880.93	 	 	$	612,795.29	 	 	$	1,935,085.64	 
	252
	 	 	10/1/2031	 	 	 	30	 	 	$	119,863,092.47	 	 	$	2,547,880.93	 	 	$	583,755.42	 	 	$	1,964,125.51	 
	253
	 	 	11/1/2031	 	 	 	31	 	 	$	117,908,700.32	 	 	$	2,547,880.93	 	 	$	593,488.78	 	 	$	1,954,392.15	 
	254
	 	 	12/1/2031	 	 	 	30	 	 	$	115,925,798.58	 	 	$	2,547,880.93	 	 	$	564,979.19	 	 	$	1,982,901.74	 
	255
	 	 	1/1/2032	 	 	 	31	 	 	$	113,951,911.36	 	 	$	2,547,880.93	 	 	$	573,993.71	 	 	$	1,973,887.22	 
	256
	 	 	2/1/2032	 	 	 	31	 	 	$	111,968,250.66	 	 	$	2,547,880.93	 	 	$	564,220.23	 	 	$	1,983,660.70	 
	257
	 	 	3/1/2032	 	 	 	29	 	 	$	109,939,000.45	 	 	$	2,547,880.93	 	 	$	518,630.72	 	 	$	2,029,250.21	 
	258
	 	 	4/1/2032	 	 	 	31	 	 	$	107,935,470.26	 	 	$	2,547,880.93	 	 	$	544,350.75	 	 	$	2,003,530.18	 
	259
	 	 	5/1/2032	 	 	 	30	 	 	$	105,904,780.13	 	 	$	2,547,880.93	 	 	$	517,190.80	 	 	$	2,030,690.13	 
	260
	 	 	6/1/2032	 	 	 	31	 	 	$	103,881,274.95	 	 	$	2,547,880.93	 	 	$	524,375.75	 	 	$	2,023,505.18	 
	261
	 	 	7/1/2032	 	 	 	30	 	 	$	101,831,158.46	 	 	$	2,547,880.93	 	 	$	497,764.44	 	 	$	2,050,116.49	 
	262
	 	 	8/1/2032	 	 	 	31	 	 	$	99,787,483.20	 	 	$	2,547,880.93	 	 	$	504,205.67	 	 	$	2,043,675.26	 
	263
	 	 	9/1/2032	 	 	 	31	 	 	$	97,733,688.91	 	 	$	2,547,880.93	 	 	$	494,086.64	 	 	$	2,053,794.29	 
	264
	 	 	10/1/2032	 	 	 	30	 	 	$	95,654,115.23	 	 	$	2,547,880.93	 	 	$	468,307.26	 	 	$	2,079,573.67	 
	265
	 	 	11/1/2032	 	 	 	31	 	 	$	93,579,855.03	 	 	$	2,547,880.93	 	 	$	473,620.72	 	 	$	2,074,260.21	 
	266
	 	 	12/1/2032	 	 	 	30	 	 	$	91,480,377.57	 	 	$	2,547,880.93	 	 	$	448,403.47	 	 	$	2,099,477.46	 
	267
	 	 	1/1/2033	 	 	 	31	 	 	$	89,385,451.57	 	 	$	2,547,880.93	 	 	$	452,954.93	 	 	$	2,094,926.00	 
	268
	 	 	2/1/2033	 	 	 	31	 	 	$	87,280,152.77	 	 	$	2,547,880.93	 	 	$	442,582.13	 	 	$	2,105,298.80	 
	269
	 	 	3/1/2033	 	 	 	28	 	 	$	85,122,608.08	 	 	$	2,547,880.93	 	 	$	390,336.24	 	 	$	2,157,544.69	 
	270
	 	 	4/1/2033	 	 	 	31	 	 	$	82,996,202.28	 	 	$	2,547,880.93	 	 	$	421,475.14	 	 	$	2,126,405.79	 
	271
	 	 	5/1/2033	 	 	 	30	 	 	$	80,846,011.49	 	 	$	2,547,880.93	 	 	$	397,690.14	 	 	$	2,150,190.79	 
	272
	 	 	6/1/2033	 	 	 	31	 	 	$	78,698,430.60	 	 	$	2,547,880.93	 	 	$	400,300.04	 	 	$	2,147,580.89	 
	273
	 	 	7/1/2033	 	 	 	30	 	 	$	76,527,646.32	 	 	$	2,547,880.93	 	 	$	377,096.65	 	 	$	2,170,784.28	 
	274
	 	 	8/1/2033	 	 	 	31	 	 	$	74,358,683.52	 	 	$	2,547,880.93	 	 	$	378,918.14	 	 	$	2,168,962.79	 
	275
	 	 	9/1/2033	 	 	 	31	 	 	$	72,178,981.35	 	 	$	2,547,880.93	 	 	$	368,178.76	 	 	$	2,179,702.17	 
	276
	 	 	10/1/2033	 	 	 	30	 	 	$	69,976,958.04	 	 	$	2,547,880.93	 	 	$	345,857.62	 	 	$	2,202,023.31	 
	277
	 	 	11/1/2033	 	 	 	31	 	 	$	67,775,560.25	 	 	$	2,547,880.93	 	 	$	346,483.13	 	 	$	2,201,397.80	 
	278
	 	 	12/1/2033	 	 	 	30	 	 	$	65,552,437.21	 	 	$	2,547,880.93	 	 	$	324,757.89	 	 	$	2,223,123.04	 
	279
	 	 	1/1/2034	 	 	 	31	 	 	$	63,329,131.89	 	 	$	2,547,880.93	 	 	$	324,575.61	 	 	$	2,223,305.32	 
	280
	 	 	2/1/2034	 	 	 	31	 	 	$	61,094,818.12	 	 	$	2,547,880.93	 	 	$	313,567.16	 	 	$	2,234,313.77	 
	281
	 	 	3/1/2034	 	 	 	28	 	 	$	58,820,166.79	 	 	$	2,547,880.93	 	 	$	273,229.60	 	 	$	2,274,651.33	 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Period	 	Date	 	 	Days	 	 	Ending Balance	 	 	Payment	 	 	Interest	 	 	Principal Payment	 
	282
	 	 	4/1/2034	 	 	 	31	 	 	$	56,563,527.38	 	 	$	2,547,880.93	 	 	$	291,241.52	 	 	$	2,256,639.41	 
	283
	 	 	5/1/2034	 	 	 	30	 	 	$	54,286,680.02	 	 	$	2,547,880.93	 	 	$	271,033.57	 	 	$	2,276,847.36	 
	284
	 	 	6/1/2034	 	 	 	31	 	 	$	52,007,593.55	 	 	$	2,547,880.93	 	 	$	268,794.46	 	 	$	2,279,086.47	 
	285
	 	 	7/1/2034	 	 	 	30	 	 	$	49,708,915.68	 	 	$	2,547,880.93	 	 	$	249,203.05	 	 	$	2,298,677.88	 
	286
	 	 	8/1/2034	 	 	 	31	 	 	$	47,407,162.92	 	 	$	2,547,880.93	 	 	$	246,128.17	 	 	$	2,301,752.76	 
	287
	 	 	9/1/2034	 	 	 	31	 	 	$	45,094,013.29	 	 	$	2,547,880.93	 	 	$	234,731.30	 	 	$	2,313,149.63	 
	288
	 	 	10/1/2034	 	 	 	30	 	 	$	42,762,207.84	 	 	$	2,547,880.93	 	 	$	216,075.48	 	 	$	2,331,805.45	 
	289
	 	 	11/1/2034	 	 	 	31	 	 	$	40,426,059.23	 	 	$	2,547,880.93	 	 	$	211,732.32	 	 	$	2,336,148.61	 
	290
	 	 	12/1/2034	 	 	 	30	 	 	$	38,071,886.50	 	 	$	2,547,880.93	 	 	$	193,708.20	 	 	$	2,354,372.73	 
	291
	 	 	1/1/2035	 	 	 	31	 	 	$	35,712,514.29	 	 	$	2,547,880.93	 	 	$	188,508.72	 	 	$	2,359,372.21	 
	292
	 	 	2/1/2035	 	 	 	31	 	 	$	33,341,459.90	 	 	$	2,547,880.93	 	 	$	176,826.55	 	 	$	2,371,054.38	 
	293
	 	 	3/1/2035	 	 	 	28	 	 	$	30,942,689.39	 	 	$	2,547,880.93	 	 	$	149,110.42	 	 	$	2,398,770.51	 
	294
	 	 	4/1/2035	 	 	 	31	 	 	$	28,548,017.75	 	 	$	2,547,880.93	 	 	$	153,209.29	 	 	$	2,394,671.64	 
	295
	 	 	5/1/2035	 	 	 	30	 	 	$	26,136,929.40	 	 	$	2,547,880.93	 	 	$	136,792.59	 	 	$	2,411,088.34	 
	296
	 	 	6/1/2035	 	 	 	31	 	 	$	23,718,462.58	 	 	$	2,547,880.93	 	 	$	129,414.10	 	 	$	2,418,466.83	 
	297
	 	 	7/1/2035	 	 	 	30	 	 	$	21,284,232.61	 	 	$	2,547,880.93	 	 	$	113,650.97	 	 	$	2,434,229.96	 
	298
	 	 	8/1/2035	 	 	 	31	 	 	$	18,841,738.20	 	 	$	2,547,880.93	 	 	$	105,386.51	 	 	$	2,442,494.42	 
	299
	 	 	9/1/2035	 	 	 	31	 	 	$	16,387,150.04	 	 	$	2,547,880.93	 	 	$	93,292.77	 	 	$	2,454,588.16	 
	300
	 	 	10/1/2035	 	 	 	30	 	 	$	13,917,790.87	 	 	$	2,547,880.93	 	 	$	78,521.76	 	 	$	2,469,359.17	 

 

 

SCHEDULE 2.07 

LENDER COMMITMENTS AND COMMITMENT PERCENTAGES

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Term	 	 	 	 	 	 	Revolver	 	 	 	 	 	 	Total	 
	 	 	Term	 	 	Commitment	 	 	Revolver	 	 	Commitment	 	 	Total	 	 	Commitment	 
	LENDER	 	Commitment	 	 	Percentage	 	 	Commitment	 	 	Percentage	 	 	Commitment	 	 	Percentage	 
	General Electric Capital Corporation
	 	$	240,594,059	 	 	 	59.40594	%	 	$	59,405,941	 	 	 	59.40594	%	 	$	300,000,000	 	 	 	59.40594	%
	The Private Bank and Trust Company
	 	$	24,059,406	 	 	 	5.94059	%	 	$	5,940,594	 	 	 	5.94059	%	 	$	30,000,000	 	 	 	5.94059	%
	CIT Bank
	 	$	24,059,406	 	 	 	5.94059	%	 	$	5,940,594	 	 	 	5.94059	%	 	$	30,000,000	 	 	 	5.94059	%
	Popular Community Bank
	 	$	21,653,465	 	 	 	5.34653	%	 	$	5,346,535	 	 	 	5.34653	%	 	$	27,000,000	 	 	 	5.34653	%
	Capital Source Bank
	 	$	18,445,545	 	 	 	4.55446	%	 	$	4,554,455	 	 	 	4.55446	%	 	$	23,000,000	 	 	 	4.55446	%
	MB Financial Bank, N.A.
	 	$	15,237,624	 	 	 	3.76238	%	 	$	3,762,376	 	 	 	3.76238	%	 	$	19,000,000	 	 	 	3.76238	%
	FirstMerit Bank
	 	$	15,237,624	 	 	 	3.76238	%	 	$	3,762,376	 	 	 	3.76238	%	 	$	19,000,000	 	 	 	3.76238	%
	Bank Leumi USA
	 	$	15,237,624	 	 	 	3.76238	%	 	$	3,762,376	 	 	 	3.76238	%	 	$	19,000,000	 	 	 	3.76238	%
	Israel Discount Bank of New York
	 	$	15,237,624	 	 	 	3.76238	%	 	$	3,762,376	 	 	 	3.76238	%	 	$	19,000,000	 	 	 	3.76238	%
	Bank of Oklahoma
	 	$	8,821,782	 	 	 	2.17822	%	 	$	2,178,218	 	 	 	2.17822	%	 	$	11,000,000	 	 	 	2.17822	%
	Royal Bank of Canada
	 	$	6,415,841	 	 	 	1.58416	%	 	$	1,584,159	 	 	 	1.58416	%	 	$	8,000,000	 	 	 	1.58416	%
	 	 	 
	 
	 	$	405,000,000	 	 	 	100	%	 	$	100,000,000	 	 	 	100	%	 	$	505,000,000	 	 	 	100	%

 

 

SCHEDULE 2.12

ALLOCABLE AMOUNTS

	 	 	 	 	 
	Borrower	 	Total	 
	Alamogordo Aviv, L.L.C., a New Mexico limited liability company
	 	$	4,713,267	 
	Arkansas Aviv, L.L.C., a Delaware limited liability company
	 	$	7,922,299	 
	Aviv Foothills, L.L.C., a Delaware limited liability company
	 	$	4,813,549	 
	Aviv Liberty, L.L.C., a Delaware limited liability company
	 	$	5,365,101	 
	Avon Ohio, L.L.C., a Delaware limited liability company
	 	$	3,309,315	 
	Belleville Illinois, L.L.C., a Delaware limited liability company
	 	$	5,014,114	 
	Bellingham II Associates, L.L.C., a Delaware limited liability company
	 	$	902,540	 
	Benton Harbor, L.L.C., an Illinois limited liability company
	 	$	2,657,480	 
	BHG Aviv, L.L.C., a Delaware limited liability company
	 	$	18,552,222	 
	Bonham Texas, L.L.C., a Delaware limited liability company
	 	$	1,303,670	 
	Burton NH Property, L.L.C., a Delaware limited liability company
	 	$	902,540	 
	California Aviv Two, L.L.C., a Delaware limited liability company
	 	$	9,827,663	 
	California Aviv, L.L.C., a Delaware limited liability company
	 	$	31,588,918	 
	Camas Associates, L.L.C., a Delaware limited liability company
	 	$	1,504,234	 
	Casa/Sierra California Associates, L.L.C., a Delaware limited liability company
	 	$	4,211,856	 
	Chenal Arkansas, L.L.C., a Delaware limited liability company
	 	$	4,362,279	 
	Chippewa Valley, L.L.C., an Illinois limited liability company
	 	$	5,314,961	 
	Clarkston Care, L.L.C., a Delaware limited liability company
	 	$	3,961,150	 
	Clayton Associates, L.L.C., a New Mexico limited liability company
	 	$	1,454,093	 
	Colonial Madison Associates, L.L.C., a Delaware limited liability company
	 	$	2,005,646	 
	Columbia View Associates, L.L.C., a Delaware limited liability company
	 	$	651,835	 
	Columbus Texas Aviv, L.L.C., a Delaware limited liability company
	 	$	260,734	 
	Columbus Western Avenue, L.L.C., a Delaware limited liability company
	 	$	1,253,528	 
	Commerce Nursing Homes, L.L.C., an Illinois limited liability company
	 	$	5,164,537	 
	CR Aviv, L.L.C., a Delaware limited liability company
	 	$	16,596,718	 
	Denison Texas, L.L.C., a Delaware limited liability company
	 	$	2,908,186	 
	Effingham Associates, L.L.C., an Illinois limited liability company
	 	$	4,161,714	 
	Elite Mattoon, L.L.C., a Delaware limited liability company
	 	$	1,153,246	 
	Elite Yorkville, L.L.C., a Delaware limited liability company
	 	$	1,554,375	 
	Falfurrias Texas, L.L.C., a Delaware limited liability company
	 	$	1,052,964	 
	Florence Heights Associates, L.L.C., a Delaware limited liability company
	 	$	551,553	 
	Fountain Associates, L.L.C., a Delaware limited liability company
	 	$	1,103,105	 
	Four Fountains Aviv, L.L.C., a Delaware limited liability company
	 	$	4,261,997	 
	Freewater Oregon, L.L.C., a Delaware limited liability company
	 	$	3,660,303	 
	Fullerton California, L.L.C., a Delaware limited liability company
	 	$	3,710,444	 
	Giltex Care, L.L.C., a Delaware limited liability company
	 	$	1,704,799	 
	Heritage Monterey Associates, L.L.C., an Illinois limited liability company
	 	$	8,624,276	 
	HHM Aviv, L.L.C., a Delaware limited liability company
	 	$	8,072,723	 
	Highland Leasehold, L.L.C., a Delaware limited liability company
	 	$	3,209,033	 
	Hobbs Associates, L.L.C., an Illinois limited liability company
	 	$	902,540	 
	Hot Springs Aviv, L.L.C., a Delaware limited liability company
	 	$	6,016,937	 
	Houston Texas Aviv, L.L.C., a Delaware limited liability company
	 	$	1,002,823	 
	Hutchinson Kansas, L.L.C., a Delaware limited liability company
	 	$	4,161,714	 
	Idaho Associates, L.L.C., an Illinois limited liability company
	 	$	6,117,220	 

 

 

	 	 	 	 	 
	Borrower	 	Total	 
	Karan Associates Two, L.L.C., a Delaware limited liability company
	 	$	7,270,465	 
	Karan Associates, L.L.C., a Delaware limited liability company
	 	$	18,502,078	 
	KB Northwest Associates, L.L.C., a Delaware limited liability company
	 	$	1,754,940	 
	Kingsville Texas, L.L.C., a Delaware limited liability company
	 	$	3,459,739	 
	Little Rock Aviv, L.L.C., a Delaware limited liability company
	 	$	902,540	 
	Manor Associates, L.L.C., a Delaware limited liability company
	 	$	4,312,138	 
	Mansfield Aviv, L.L.C., a Delaware limited liability company
	 	$	752,117	 
	Massachusetts Nursing Homes, L.L.C., a Delaware limited liability company
	 	$	11,316,854	 
	Minnesota Associates, L.L.C., a Delaware limited liability company
	 	$	3,359,456	 
	Missouri Associates, L.L.C., a Delaware limited liability company
	 	$	2,807,904	 
	Missouri Regency Associates, L.L.C., a Delaware limited liability company
	 	$	11,181,473	 
	Montana Associates, L.L.C., an Illinois limited liability company
	 	$	2,507,057	 
	Mt. Vernon Texas, L.L.C., a Delaware limited liability company
	 	$	110,311	 
	N.M. Bloomfield Three Plus One Limited Company, a New Mexico limited liability company
	 	$	3,008,468	 
	N.M. Espanola Three Plus One Limited Company, a New Mexico limited liability company
	 	$	4,312,138	 
	N.M. Lordsburg Three Plus One Limited Company, a New Mexico limited liability company
	 	$	701,976	 
	N.M. Silver City Three Plus One Limited Company, a New Mexico limited liability company
	 	$	3,560,021	 
	Northridge Arkansas, L.L.C., a Delaware limited liability company
	 	$	2,507,057	 
	Oakland Nursing Homes, L.L.C., a Delaware limited liability company
	 	$	2,406,775	 
	October Associates, L.L.C., a Delaware limited liability company
	 	$	235,663	 
	Ogden Associates, L.L.C., a Delaware limited liability company
	 	$	2,055,787	 
	Ohio Aviv, L.L.C., a Delaware limited liability company
	 	$	8,173,006	 
	Omaha Associates, L.L.C., a Delaware limited liability company
	 	$	7,471,030	 
	Orange, L.L.C., an Illinois limited liability company
	 	$	2,156,069	 
	Oregon Associates, L.L.C., a Delaware limited liability company
	 	$	2,406,775	 
	Peabody Associates, L.L.C., a Delaware limited liability company
	 	$	601,694	 
	Pomona Vista L.L.C., an Illinois limited liability company
	 	$	1,052,964	 
	Prescott Arkansas, L.L.C., a Delaware limited liability company
	 	$	902,540	 
	Raton Property Limited Company, a New Mexico limited liability company
	 	$	2,456,916	 
	Red Rocks, L.L.C., an Illinois limited liability company
	 	$	1,955,504	 
	Richland Washington, L.L.C., a Delaware limited liability company
	 	$	6,217,501	 
	Riverside Nursing Home Associates, L.L.C., a Delaware limited liability company
	 	$	1,303,670	 
	Rose Baldwin Park Property L.L.C., an Illinois limited liability company
	 	$	802,258	 
	Salem Associates, L.L.C., a Delaware limited liability company
	 	$	5,615,807	 
	San Juan NH Property, L.L.C., a Delaware limited liability company
	 	$	2,858,045	 
	Santa Ana-Bartlett, L.L.C., an Illinois limited liability company
	 	$	4,813,549	 
	Santa Fe Missouri Associates, L.L.C., an Illinois limited liability company
	 	$	2,456,916	 
	Savoy/Bonham Venture, L.L.C., a Delaware limited liability company
	 	$	1,153,246	 
	Searcy Aviv, L.L.C., a Delaware limited liability company
	 	$	9,276,110	 
	Skyview Associates, L.L.C., a Delaware limited liability company
	 	$	4,512,702	 
	Star City Arkansas, L.L.C., a Delaware limited liability company
	 	$	1,604,516	 
	Sun-Mesa Properties, L.L.C., an Illinois limited liability company
	 	$	10,078,369	 
	Tujunga, L.L.C., a Delaware limited liability company
	 	$	1,554,375	 
	VRB Aviv, L.L.C., a Delaware limited liability company
	 	$	11,382,038	 
	Washington-Oregon Associates, L.L.C., an Illinois limited liability company
	 	$	6,668,772	 
	Watauga Associates, L.L.C., an Illinois limited liability company
	 	$	3,259,174	 
	West Pearl Street, L.L.C., a Delaware limited liability company
	 	$	3,860,868	 

 

 

	 	 	 	 	 
	Borrower	 	Total	 
	Wheeler Healthcare Associates, L.L.C., a Texas limited liability company
	 	$	1,754,940	 
	Willis Texas Aviv, L.L.C., a Delaware limited liability company
	 	$	2,256,351	 
	Woodland Arkansas, L.L.C., a Delaware limited liability company
	 	$	1,554,375	 
	Xion, L.L.C., an Illinois limited liability company
	 	$	270,762	 
	Yuba Aviv, L.L.C., a Delaware limited liability company
	 	$	—	 
	Grand Total
	 	$	405,000,000	 

 

 

SCHEDULE 5.01(b)

DISPOSITIONS SINCE DECEMBER 31, 2009

	 	 	 	 	 
	Site No.	 	Selling Entity	 	Address of Sold Site
	Site 38

	 	Yuba Aviv, L.L.C., a Delaware limited liability company
	 	1220 Plumas Street, Yuba City, California
	Site 39

	 	Yuba Aviv, L.L.C., a Delaware limited liability company
	 	1617 Ramirez Street, Marysville, California

 

 

SCHEDULE 5.11

CORPORATE STRUCTURE; CAPITAL STOCK

	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	Outstanding
	 	 	 	 	 	 	 	 	 	 	Options, Warrants,
	 	 	 	 	 	 	 	 	 	 	Rights of
	 	 	 	 	 	 	% of Capital Stock	 	Persons Holding Equity or	 	Conversion of
	Borrower’s Legal Name	 	State of Formation	 	Tax ID	 	Outstanding	 	Voting Interests (%)	 	Purchase or Similar
	Aviv Financing I, L.L.C.
	 	DE	 	11-3747125	 	100%	 	Aviv Healthcare Properties Operating Partnership I LP (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Alamogordo Aviv, L.L.C.
	 	NM	 	27-0123540	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Arkansas Aviv, L.L.C.
	 	DE	 	30-0509615	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Aviv Foothills, L.L.C.
	 	DE	 	36-4572035	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Aviv Liberty, L.L.C.
	 	DE	 	36-4572034	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Avon Ohio, L.L.C.
	 	DE	 	36-4601433	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Belleville Illinois, L.L.C.
	 	DE	 	32-0188341	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Bellingham II Associates,
L.L.C.
	 	DE	 	11-3747130	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Benton Harbor, L.L.C.
	 	IL	 	36-4204807	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	BHG Aviv, L.L.C.
	 	DE	 	36-4601432	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Bonham Texas, L.L.C.
	 	DE	 	30-0358809	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Burton NH Property, L.L.C.
	 	DE	 	11-3714506	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	California Aviv Two, L.L.C.
	 	DE	 	26-4117080	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	California Aviv, L.L.C.
	 	DE	 	38-3786697	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Camas Associates, L.L.C.
	 	DE	 	36-4340182	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Casa/Sierra California
Associates, L.L.C.
	 	DE	 	36-4572017	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Chenal Arkansas, L.L.C.
	 	DE	 	04-3835270	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Chippewa Valley, L.L.C.
	 	IL	 	36-4065826	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Clarkston Care, L.L.C.
	 	DE	 	76-0802028	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Clayton Associates, L.L.C.
	 	NM	 	36-4572014	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Colonial Madison
Associates, L.L.C.
	 	DE	 	38-3741678	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Columbia View Associates,
L.L.C.
	 	DE	 	36-4204809	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Columbus Texas Aviv, L.L.C.
	 	DE	 	38-3735473	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Columbus Western Avenue,
L.L.C.
	 	DE	 	71-0960205	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Commerce Nursing Homes,
L.L.C.
	 	IL	 	36-4122632	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	CR Aviv, L.L.C.
	 	DE	 	20-5354773	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Denison Texas, L.L.C.
	 	DE	 	32-0173170	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Effingham Associates, L.L.C.
	 	IL	 	36-4150491	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.

 

 

	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	Outstanding
	 	 	 	 	 	 	 	 	 	 	Options, Warrants,
	 	 	 	 	 	 	 	 	 	 	Rights of
	 	 	 	 	 	 	% of Capital Stock	 	Persons Holding Equity or	 	Conversion of
	Borrower’s Legal Name	 	State of Formation	 	Tax ID	 	Outstanding	 	Voting Interests (%)	 	Purchase or Similar
	Elite Mattoon, L.L.C.
	 	DE	 	36-4454111	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Elite Yorkville, L.L.C.
	 	DE	 	36-4454114	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Falfurrias Texas, L.L.C.
	 	DE	 	61-1501714	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Florence Heights
Associates, L.L.C.
	 	DE	 	11-3747131	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Fountain Associates, L.L.C.
	 	DE	 	36-4572016	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Four Fountains Aviv, L.L.C.
	 	DE	 	36-4601434	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Freewater Oregon, L.L.C.
	 	DE	 	36-2280966	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Fullerton California, L.L.C.
	 	DE	 	36-4480527	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Giltex Care, L.L.C.
	 	DE	 	36-4572036	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Heritage Monterey
Associates, L.L.C.
	 	IL	 	36-4056688	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	HHM Aviv, L.L.C.
	 	DE	 	32-0205746	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Highland Leasehold, L.L.C.
	 	DE	 	20-2873499	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Hobbs Associates, L.L.C.
	 	IL	 	36-4177337	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Hot Springs Aviv, L.L.C.
	 	DE	 	30-0470700	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Houston Texas Aviv, L.L.C.
	 	DE	 	36-4587739	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Hutchinson Kansas, L.L.C.
	 	DE	 	51-0559326	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Idaho Associates, L.L.C.
	 	IL	 	36-4114446	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Karan Associates Two, L.L.C.
	 	DE	 	61-1514965	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Karan Associates, L.L.C.
	 	DE	 	11-3747208	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	KB Northwest Associates,
L.L.C.
	 	DE	 	36-4572025	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Kingsville Texas, L.L.C.
	 	DE	 	37-1522939	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Little Rock Aviv, L.L.C.
	 	DE	 	32-0267203	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Manor Associates, L.L.C.
	 	DE	 	36-4572020	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Mansfield Aviv, L.L.C.
	 	DE	 	32-0183852	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Massachusetts Nursing
Homes, L.L.C.
	 	DE	 	20-2873416	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Minnesota Associates, L.L.C.
	 	DE	 	36-4469552	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Missouri Associates, L.L.C.
	 	DE	 	36-4572033	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Missouri Regency
Associates, L.L.C.
	 	DE	 	36-4572031	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Montana Associates, L.L.C.
	 	IL	 	36-4149849	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Mt. Vernon Texas, L.L.C.
	 	DE	 	35-2270167	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	N.M. Bloomfield Three Plus
One Limited Company
	 	NM	 	74-2748292	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	N.M. Espanola Three Plus
One Limited Company
	 	NM	 	74-2748289	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.

 

 

	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	Outstanding
	 	 	 	 	 	 	 	 	 	 	Options, Warrants,
	 	 	 	 	 	 	 	 	 	 	Rights of
	 	 	 	 	 	 	% of Capital Stock	 	Persons Holding Equity or	 	Conversion of
	Borrower’s Legal Name	 	State of Formation	 	Tax ID	 	Outstanding	 	Voting Interests (%)	 	Purchase or Similar
	N.M. Lordsburg Three Plus
One Limited Company
	 	NM	 	74-2748286	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	N.M. Silver City Three Plus
One Limited Company
	 	NM	 	74-2748283	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Northridge Arkansas, L.L.C.
	 	DE	 	04-3835262	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Oakland Nursing Homes,
L.L.C.
	 	DE	 	36-4572018	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	October Associates, L.L.C.
	 	DE	 	36-4572030	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Ogden Associates, L.L.C.
	 	DE	 	36-4412291	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Ohio Aviv, L.L.C.
	 	DE	 	36-4597043	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Omaha Associates, L.L.C.
	 	DE	 	36-4572019	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Orange, L.L.C.
	 	IL	 	36-4095365	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Oregon Associates, L.L.C.
	 	DE	 	36-4572024	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Peabody Associates, L.L.C.
	 	DE	 	36-4572029	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Pomona Vista L.L.C.
	 	IL	 	36-4111095	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Prescott Arkansas, L.L.C.
	 	DE	 	04-3835264	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Raton Property Limited
Company
	 	NM	 	36-4111094	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Red Rocks, L.L.C.
	 	IL	 	36-4192351	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Richland Washington, L.L.C.
	 	DE	 	26-0081509	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Riverside Nursing Home
Associates, L.L.C.
	 	DE	 	36-4340184	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Rose Baldwin Park Property
L.L.C.
	 	IL	 	36-4111092	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Salem Associates, L.L.C.
	 	DE	 	36-4572028	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	San Juan NH Property, L.L.C.
	 	DE	 	11-3714511	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Santa Ana-Bartlett, L.L.C.
	 	IL	 	36-4212739	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Santa Fe Missouri
Associates, L.L.C.
	 	IL	 	36-4165126	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Savoy/Bonham Venture, L.L.C.
	 	DE	 	36-4572026	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Searcy Aviv, L.L.C.
	 	DE	 	38-3779442	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Skyview Associates, L.L.C.
	 	DE	 	36-4572023	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Star City Arkansas, L.L.C.
	 	DE	 	43-2089308	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Sun-Mesa Properties, L.L.C.
	 	IL	 	36-4047650	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Tujunga, L.L.C.
	 	DE	 	36-4389732	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	VRB Aviv, L.L.C.
	 	DE	 	76-0802032	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Washington-Oregon
Associates, L.L.C.
	 	IL	 	36-4192347	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Watauga Associates, L.L.C.
	 	IL	 	36-4163268	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	West Pearl Street, L.L.C.
	 	DE	 	81-0637081	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.

 

 

	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	Outstanding
	 	 	 	 	 	 	 	 	 	 	Options, Warrants,
	 	 	 	 	 	 	 	 	 	 	Rights of
	 	 	 	 	 	 	% of Capital Stock	 	Persons Holding Equity or	 	Conversion of
	Borrower’s Legal Name	 	State of Formation	 	Tax ID	 	Outstanding	 	Voting Interests (%)	 	Purchase or Similar
	Wheeler Healthcare
Associates, L.L.C.
	 	TX	 	74-2752353	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Willis Texas Aviv, L.L.C.
	 	DE	 	37-1522942	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Woodland Arkansas, L.L.C.
	 	DE	 	04-3835266	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Xion, L.L.C.
	 	IL	 	36-4062845	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.
	 
	 	 	 	 	 	 	 	 	 	 
	Yuba Aviv, L.L.C.
	 	DE	 	11-3750228	 	100%	 	Aviv Financing I, L.L.C. (100%)	 	None.

[Organizational Chart Follows]

 

 

Organizational Chart

 

 

 

 

Aviv

Financing I, L.L.C.

each listed

entity owned 100%

Alamogordo Aviv, L.L.C.

Arkansas Aviv, L.L.C.

Aviv Foothills, L.L.C.

Aviv Liberty, L.L.C.

Avon Ohio, L.L.C.

Belleville Illinois, L.L.C.

Bellingham II Associates, L.L.C.

Benton Harbor, L.L.C.

BHG Aviv, L.L.C.

Bonham Texas, L.L.C.

Burton NH Property, L.L.C.

California Aviv Two, L.L.C.

California Aviv, L.L.C.

Camas Associates, L.L.C.

Casa/Sierra California Associates, L.L.C.

Chenal Arkansas, L.L.C.

Chippewa Valley, L.L.C.

Clarkston Care, L.L.C.

Clayton Associates, L.L.C.

Colonial Madison Associates, L.L.C.

Columbia View Associates, L.L.C.

Columbus Texas Aviv, L.L.C

Columbus Western Avenue, L.L.C.

Commerce Nursing Homes, L.L.C.

CR Aviv, L.L.C.

Denison Texas, L.L.C.

Effingham Associates, L.L.C.

Elite Mattoon, L.L.C.

Elite Yorkville, L.L.C.

Falfurrias Texas, L.L.C.

Florence Heights Associates, L.L.C.

Fountain Associates, L.L.C.

Four Fountains Aviv, L.L.C.

Freewater Oregon, L.L.C.

Fullerton California, L.L.C.

Giltex Care, L.L.C.

Heritage Monterey Associates, L.L.C.

HHM Aviv, L.L.C.

Highland Leasehold, L.L.C.

Hobbs Associates, L.L.C.

Hot Springs Aviv, L.L.C.

Houston Texas Aviv, L.L.C.

Hutchinson Kansas, L.L.C.

Idaho Associates, L.L.C.

Karan Associates Two, L.L.C.

Karan Associates, L.L.C.

KB Northwest Associates, L.L.C

Kingsville Texas, L.L.C.

Little Rock Aviv, L.L.C.

Manor Associates, L.L.C.

Mansfield Aviv, L.L.C.

Massachusetts Nursing Homes, L.L.C.

Minnesota Associates, L.L.C.

Missouri Associates, L.L.C.

Missouri Regency Associates, L.L.C

Montana Associates, L.L.C.

Mt. Vernon Texas, L.L.C.

N.M. Bloomfield Three Plus One Limited Company

N.M. Espanola Three Plus One Limited Company

N.M. Lordsburg Three Plus One Limited Company

N.M. Silver City Three Plus One Limited Company

Northridge Arkansas, L.L.C.

Oakland Nursing Homes, L.L.C.

October Associates, L.L.C.

Ogden Associates, L.L.C.

Ohio Aviv, L.L.C.

Omaha Associates, L.L.C.

Orange, L.L.C.

Oregon Associates, L.L.C.

Peabody Associates, L.L.C.

Pomona Vista L.L.C.

Prescott Arkansas, L.L.C.

Raton Property Limited Company

Red Rocks, L.L.C.

Richland Washington, L.L.C

Riverside Nursing Home Associates, L.L.C.

Rose Baldwin Park Property L.L.C.

Salem Associates, L.L.C.

San Juan NH Property, L.L.C.

Santa Ana-Bartlett, L.L.C.

Santa Fe Missouri Associates, L.L.C

Savoy/Bonham Venture, L.L.C.

Searcy Aviv, L.L.C.

Skyview Associates, L.L.C.

Star City Arkansas, L.L.C.

Sun-Mesa Properties, L.L.C.

Tujunga, L.L.C.

VRB Aviv, L.L.C.

Washington-Oregon Associates, L.L.C.

Watauga Associates, L.L.C.

West Pearl Street L.L.C.

Wheeler Healthcare Associates, L.L.C.

Willis Texas Aviv, L.L.C.

Woodland Arkansas, L.L.C.

Xion, L.L.C.

Yuba Aviv, L.L.C.

SHEET 2

 

 

SCHEDULE 5.12

REAL PROPERTY ASSET MATTERS

	 	 	 

	Part I

	 	Real Property Assets
	Part II

	 	Delinquent Tenants
	Part III

	 	Material Sub-Leases

 

 

SCHEDULE 5.12

PART I — REAL PROPERTY ASSETS

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Real Property Asset	 	 	 	 	 	 	 	Facility Operating Lease	 	 
	Site No.	 	Address	 	Borrower/Owner1	 	Facility Operating Leases	 	Eligible Tenant2	 	Termination Date	 	Ground Leases
	1

	 	2911 Browns Lane, Jonesboro, AR
	 	Arkansas Aviv, L.L.C.
	 	1. Master Lease dated 10/17/08
	 	Skilcare Health Services, LLC
	 	10/31/2018
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Lease dated 1/5/09	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Second Amendment to Lease dated 8/13/2009	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Third Amendment to Lease dated 11/18/09	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Unconditional Guaranty of Lease dated 10/31/08	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	2

	 	1208 Highway 7 North, Hot Springs, AR
	 	Hot Springs Aviv, L.L.C.
	 	1. Lease dated 3/26/08
	 	Fountain Properties, LLC
	 	2/28/2038
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Lease dated 11/5/08	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Second Amendment to Lease dated 1/5/09	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Third Amendment to Lease dated 11/18/09	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Unconditional Guaranty of Lease dated 3/26/08	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	3

	 	505 East Victory, Star City, AR
	 	Star City Arkansas, L.L.C.
	 	1. Lease dated 9/30/05
	 	Star City Nursing Center, PLLC
	 	10/31/2015
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Lease dated 1/22/2010	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Unconditional Guaranty of Lease dated 9/30/05	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	4

	 	700 Manor Dr, Prescott, AR
	 	Prescott Arkansas, L.L.C.
	 	1. Lease dated 12/19/05
	 	KSJ, Inc.
	 	12/31/2015
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Lease dated 1/22/2010	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Unconditional Guaranty of Lease dated 12/19/05	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	5

	 	333 Melody Drive, Trumann, AR
	 	Arkansas Aviv, L.L.C.
	 	1. Master Lease dated 10/17/08
	 	Trumann Health Services, LLC
	 	10/31/2018
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Lease dated 1/5/09	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Second Amendment to Lease dated 8/13/2009	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Third Amendment to Lease dated 11/18/09	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Unconditional Guaranty of Lease dated 10/31/08	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	6

	 	800 Brookside Drive, Little Rock, AR
	 	Arkansas Aviv, L.L.C.
	 	1. Master Lease dated 10/17/08
	 	Brookside Health Services, LLC
	 	10/31/2018
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Lease dated 1/5/09	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Second Amendment to Lease dated 8/13/2009	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Third Amendment to Lease dated 11/18/09	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Unconditional Guaranty of Lease dated 10/31/08	 	 	 	 	 	 

 

			
	1	 	HUD Subsidiaries are noted with an asterisk.
	 
	2	 	Unless otherwise noted, the address of Eligible
Tenant is the Real Property Asset Address.

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Real Property Asset	 	 	 	 	 	 	 	Facility Operating Lease	 	 
	Site No.	 	Address	 	Borrower/Owner1	 	Facility Operating Leases	 	Eligible Tenant2	 	Termination Date	 	Ground Leases
	7

	 	8701 Riley Dr, Little Rock, AR
	 	Woodland Arkansas, L.L.C.
	 	1. Existing Lease dated 12/29/05
	 	Woodland Health, LLC
	 	2/28/2018
	 	N/A
	 

	 	 	 	 	 	2. New Lease dated 12/29/05	 	 	 	 	 	 
	 

	 	 	 	 	 	3. First Amendment to Existing Lease dated 4/14/08	 	 	 	 	 	 
	 

	 	 	 	 	 	4. First Amendment to New Lease dated 4/14/08	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Second Amendment to Existing Lease dated 11/5/08	 	 	 	 	 	 
	 

	 	 	 	 	 	6. Second Amendment to New Lease dated 11/5/08	 	 	 	 	 	 
	 

	 	 	 	 	 	7. Third Amendment to Existing Lease dated 1/5/09	 	 	 	 	 	 
	 

	 	 	 	 	 	8. Third Amendment to New Lease dated 1/5/09	 	 	 	 	 	 
	 

	 	 	 	 	 	9. Fourth Amendment to Existing Lease dated 11/18/09	 	 	 	 	 	 
	 

	 	 	 	 	 	10. Fourth Amendment to New Lease dated 11/18/09	 	 	 	 	 	 
	 

	 	 	 	 	 	11. Unconditional Guaranty of Lease dated 12/29/05	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	8

	 	#3 Chenal Heights Drive, Little Rock, AR
	 	Chenal Arkansas, L.L.C.
	 	1. Lease dated 12/29/05
	 	Chenal Health, LLC dba Chenal Heights Nursing and
	 	2/28/2018
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Lease dated 6/29/06
	 	Rehab	 	 	 	 
	 

	 	 	 	 	 	3. Second Amendment to Lease dated 2/7/08	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Third Amendment to Lease dated 4/14/08	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Fourth Amendment to Lease dated 11/5/08	 	 	 	 	 	 
	 

	 	 	 	 	 	6. Fifth Amendment to Lease dated 1/5/09	 	 	 	 	 	 
	 

	 	 	 	 	 	7. Sixth Amendment to Lease dated 11/18/09	 	 	 	 	 	 
	 

	 	 	 	 	 	8. Unconditional Guaranty of Lease dated 12/29/05	 	 	 	 	 	 

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Real Property Asset	 	 	 	 	 	 	 	Facility Operating Lease	 	 
	Site No.	 	Address	 	Borrower/Owner1	 	Facility Operating Leases	 	Eligible Tenant2	 	Termination Date	 	Ground Leases
	9

	 	2501 John Ashley Dr, North Little Rock, AR
	 	Northridge Arkansas, L.L.C.
	 	1. Existing Lease dated 12/29/05
	 	Northcare, LLC
	 	2/28/2018
	 	N/A
	 

	 	 	 	 	 	2. New Lease dated 12/29/05	 	 	 	 	 	 
	 

	 	 	 	 	 	3. First Amendment to Existing Lease dated 9/20/06	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Second Amendment to Existing Lease dated 12/26/07	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Third Amendment to Existing Lease dated 4/14/08	 	 	 	 	 	 
	 

	 	 	 	 	 	6. First Amendment to New Lease dated 4/14/08	 	 	 	 	 	 
	 

	 	 	 	 	 	7. Fourth Amendment to Existing Lease dated 11/5/08	 	 	 	 	 	 
	 

	 	 	 	 	 	8. Second Amendment to New Lease dated 11/5/08	 	 	 	 	 	 
	 

	 	 	 	 	 	9. Fifth Amendment to Existing Lease dated 1/5/09	 	 	 	 	 	 
	 

	 	 	 	 	 	10. Third Amendment to New Lease dated 1/5/09	 	 	 	 	 	 
	 

	 	 	 	 	 	11. Sixth Amendment to Existing Lease dated 11/18/09	 	 	 	 	 	 
	 

	 	 	 	 	 	12. Fourth Amendment to New Lease dated 11/18/09	 	 	 	 	 	 
	 

	 	 	 	 	 	13. Unconditional Guaranty of Lease dated 12/29/05	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	10

	 	3300 Military Road, Benton, AR
	 	Arkansas Aviv, L.L.C.
	 	1. Master Lease dated 10/17/08
	 	Stoneybrook Health Services, LLC
	 	10/31/2018
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Lease dated 1/5/09	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Second Amendment to Lease dated 8/13/2009	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Third Amendment to Lease dated 11/18/09	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Unconditional Guaranty of Lease dated 10/31/08	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	11

	 	2500 East Moore, Searcy, AR
	 	Searcy Aviv, L.L.C.
	 	1. Lease dated 3/26/08
	 	Convacare, Inc.
	 	9/30/2019
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Lease dated 11/5/08	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Second Amendment to Lease dated 1/5/09	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Third Amendment to Lease dated 11/18/09	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Fourth Amendment to Lease dated 3/8/2010	 	 	 	 	 	 
	 

	 	 	 	 	 	6. Fifth Amendment to Lease dated 4/15/2010	 	 	 	 	 	 
	 

	 	 	 	 	 	7. Sixth Amendment to Lease dated 8/16/2010	 	 	 	 	 	 
	 

	 	 	 	 	 	8. Unconditional Guaranty of Lease dated 3/26/08	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	12

	 	105 South College, Searcy, AR
	 	Searcy Aviv, L.L.C.
	 	See Site 11
	 	See Site 11
	 	See Site 11
	 	N/A

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Real Property Asset	 	 	 	 	 	 	 	Facility Operating Lease	 	 
	Site No.	 	Address	 	Borrower/Owner1	 	Facility Operating Leases	 	Eligible Tenant2	 	Termination Date	 	Ground Leases
	13

	 	215 W Brown Dr, Mesa, AZ
	 	Sun-Mesa Properties, L.L.C.
	 	1. Lease dated 2/2/04
	 	Evergreen at Mesa (ALF), L.L.C.
	 	12/31/2013
	 	N/A
	 

	 	 	 	 	 	2. Consent to Sublease Agreement dated 5/1/08	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Sublease dated 5/1/08	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Unconditional Guaranty of Lease dated 2/2/04	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	14

	 	12030 113th St, Youngtown, AZ
	 	Fountain Associates, L.L.C.
	 	1. Amended and Restated Lease dated 4/1/2010
	 	Fountain Retirement Center, Inc.
	 	12/31/2017
	 	N/A
	 

	 	 	 	 	 	2. Unconditional Guaranty of Amended and Restated Lease dated 4/1/10	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	15

	 	255 W Brown Dr, Mesa, AZ
	 	Sun-Mesa Properties, L.L.C.
	 	1. Lease dated 4/5/02
	 	Evergreen Mesa Christian, L.L.C.
	 	12/31/2013
	 	N/A
	 

	 	 	 	 	 	2. Assignment and Assumption of Lease dated 9/26/02	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Consent to Assignment and Assumption of Lease dated 9/30/02	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Letter of Extension dated 10/7/03	 	 	 	 	 	 
	 

	 	 	 	 	 	5. First Amendment to Lease dated 12/17/03	 	 	 	 	 	 
	 

	 	 	 	 	 	6. Consent to Sublease Agreement dated 5/1/08	 	 	 	 	 	 
	 

	 	 	 	 	 	7. Sublease dated 5/1/08	 	 	 	 	 	 
	 

	 	 	 	 	 	8. Unconditional Guaranty of Lease dated 4/5/02	 	 	 	 	 	 
	 

	 	 	 	 	 	9. Unconditional Guaranty of Lease dated 9/30/02	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	16

	 	15810 S. 42nd St., Phoenix, AZ
	 	Aviv Foothills, L.L.C.
	 	1. Lease dated 11/18/03
	 	Evergreen at Foothills, LLC
	 	11/30/2013
	 	N/A
	 

	 	 	 	 	 	2. Consent to Sublease Agreement with Pinnacle Health Facilities XXV,	 	 	 	 	 	 
	 

	 	 	 	 	 	L.P. dated 3/29/08	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Sublease dated 3/29/08	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Unconditional Guaranty of Lease dated 11/18/03	 	 	 	 	 	 

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Real Property Asset	 	 	 	 	 	 	 	Facility Operating Lease	 	 
	Site No.	 	Address	 	Borrower/Owner1	 	Facility Operating Leases	 	Eligible Tenant2	 	Termination Date	 	Ground Leases
	17

	 	9940 W Union Hills Dr, Sun City, AZ
	 	Sun-Mesa Properties, L.L.C.
	 	1. Lease dated 4/5/02
	 	Evergreen at Sun City, L.L.C.
	 	12/31/2013
	 	N/A
	 

	 	 	 	 	 	2. Assignment and Assumption of Lease dated 9/26/02	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Consent to Assignment and Assumption of Lease dated 9/30/02	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Letter of Extension dated 10/7/03	 	 	 	 	 	 
	 

	 	 	 	 	 	5. First Amendment to Lease dated 12/17/03	 	 	 	 	 	 
	 

	 	 	 	 	 	6. Consent to Sublease Agreement dated 5/1/08	 	 	 	 	 	 
	 

	 	 	 	 	 	7. Sublease dated 5/1/08	 	 	 	 	 	 
	 

	 	 	 	 	 	8. Unconditional Guaranty of Lease dated 4/5/02	 	 	 	 	 	 
	 

	 	 	 	 	 	9. Unconditional Guaranty of Lease dated 9/30/02	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	18

	 	309 MacArthur Blvd, Oakland, CA
	 	Oakland Nursing Homes, L.L.C.
	 	1. Lease dated 8/1/94
	 	Trinity Oakland, Inc., Trinity Health Systems, Inc.
	 	7/31/2014
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Lease dated 9/4/96
	 	and Randal Kleis	 	 	 	 
	 

	 	 	 	 	 	3. Second Amendment to Lease dated 7/7/04	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Consent to Sublease, Sublease Agreement and Sublease Guaranty dated	 	 	 	 	 	 
	 

	 	 	 	 	 	8/1/08	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	19

	 	3145 High Street, Oakland, CA
	 	Oakland Nursing Homes, L.L.C.
	 	1. Lease dated 8/1/94
	 	Trinity Oakland, Inc., Trinity Health Systems, Inc.
	 	7/31/2014
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Lease dated 9/4/96
	 	and Randal Kleis	 	 	 	 
	 

	 	 	 	 	 	3. Second Amendment to Lease dated 7/7/04	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Consent to Sublease, Sublease Agreement and Sublease Guaranty dated	 	 	 	 	 	 
	 

	 	 	 	 	 	8/1/08	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	20

	 	1000 Executive Parkway, Oroville, CA
	 	California Aviv, L.L.C.
	 	1. Master Lease dated 7/22/08
	 	AB12 Master Tenant, L.L.C.
	 	8/31/2018
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Master Lease dated 4/21/09	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Side Letter to Master Lease dated 6/11/09	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Letter Agreement to Master Lease dated 4/29/2010	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Second Amendment to Master Lease dated 4/29/2010	 	 	 	 	 	 
	 

	 	 	 	 	 	6. Unconditional Guaranty of Lease dated 7/22/08	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	21

	 	1200 Springfield Avenue, Chico, CA
	 	California Aviv, L.L.C.
	 	1. Master Lease dated 7/22/08
	 	AB12 Master Tenant, L.L.C.
	 	8/31/2018
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Master Lease dated 4/21/09	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Side Letter to Master Lease dated 6/11/09	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Letter Agreement to Master Lease dated 4/29/2010	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Second Amendment to Master Lease dated 4/29/2010	 	 	 	 	 	 
	 

	 	 	 	 	 	6. Unconditional Guaranty of Lease dated 7/22/08	 	 	 	 	 	 

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Real Property Asset	 	 	 	 	 	 	 	Facility Operating Lease	 	 
	Site No.	 	Address	 	Borrower/Owner1	 	Facility Operating Leases	 	Eligible Tenant2	 	Termination Date	 	Ground Leases
	22

	 	6212 Tudor Way, Bakersfield, CA
	 	California Aviv, L.L.C.
	 	1. Master Lease dated 7/22/08
	 	AB12 Master Tenant, L.L.C.
	 	8/31/2018
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Master Lease dated 4/21/09	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Side Letter to Master Lease dated 6/11/09	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Letter Agreement to Master Lease dated 4/29/2010	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Second Amendment to Master Lease dated 4/29/2010	 	 	 	 	 	 
	 

	 	 	 	 	 	6. Unconditional Guaranty of Lease dated 7/22/08	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	23

	 	323 Campus Drive, Arvin, CA
	 	California Aviv, L.L.C.
	 	1. Master Lease dated 7/22/08
	 	AB12 Master Tenant, L.L.C.
	 	8/31/2018
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Master Lease dated 4/21/09	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Side Letter to Master Lease dated 6/11/09	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Letter Agreement to Master Lease dated 4/29/2010	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Second Amendment to Master Lease dated 4/29/2010	 	 	 	 	 	 
	 

	 	 	 	 	 	6. Unconditional Guaranty of Lease dated 7/22/08	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	24

	 	1291 Craig Avenue, Lakeport, CA
	 	California Aviv, L.L.C.
	 	1. Master Lease dated 7/22/08
	 	AB12 Master Tenant, L.L.C.
	 	8/31/2018
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Master Lease dated 4/21/09	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Side Letter to Master Lease dated 6/11/09	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Letter Agreement to Master Lease dated 4/29/2010	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Second Amendment to Master Lease dated 4/29/2010	 	 	 	 	 	 
	 

	 	 	 	 	 	6. Unconditional Guaranty of Lease dated 7/22/08	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	25

	 	610 N Garfield Ave, Monterey Park, CA
	 	Heritage Monterey Associates, L.L.C.*
	 	1. Lease dated 10/30/95
	 	Heritage Manor Healthcare, LLC
	 	1/31/2026
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Lease dated 12/20/95	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Second Amendment to Lease dated 1/11/96	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Third Amendment to Lease dated 9/4/96	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Fourth Amendment to Lease dated 12/11/01	 	 	 	 	 	 
	 

	 	 	 	 	 	6. Fifth Amendment to Lease dated 2/1/02	 	 	 	 	 	 
	 

	 	 	 	 	 	7. Sixth Amendment to Lease dated 12/31/03	 	 	 	 	 	 
	 

	 	 	 	 	 	8. Seventh Amendment to Lease Agreement dated 3/3/08	 	 	 	 	 	 
	 

	 	 	 	 	 	9. Eighth Amendment to Lease dated 12/9/08	 	 	 	 	 	 
	 

	 	 	 	 	 	10. Continuing Guarantee dated 11/95	 	 	 	 	 	 

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Real Property Asset	 	 	 	 	 	 	 	Facility Operating Lease	 	 
	Site No.	 	Address	 	Borrower/Owner1	 	Facility Operating Leases	 	Eligible Tenant2	 	Termination Date	 	Ground Leases
	26

	 	14318 Ohio St, Baldwin Park, CA
	 	Casa/Sierra California Associates, L.L.C.
	 	1. Lease dated 7/21/08
	 	Sierra View Care Holdings, LLC
	 	7/31/2018
	 	N/A
	 

	 	 	 	 	 	2. Consent Agreement dated 7/21/08	 	 	 	 	 	 
	 

	 	 	 	 	 	3. First Amendment to Lease dated 12/9/08	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Second Amendment to Lease dated 08/24/2009	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Unconditional Guaranty of Lease dated 7/21/08	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	27

	 	651 N Main St, Pomona, CA
	 	Pomona Vista L.L.C.
	 	1. Lease dated 7/21/08
	 	MJB Partners, LLC
	 	7/31/2018
	 	N/A
	 

	 	 	 	 	 	2. Consent Agreement dated 7/21/08	 	 	 	 	 	 
	 

	 	 	 	 	 	3. First Amendment to Lease dated 12/9/08	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Second Amendment to Lease dated 08/24/2009	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Unconditional Guaranty of Lease dated 7/21/08	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	28

	 	3541 Puente Ave, Baldwin Park, CA
	 	Rose Baldwin Park Property L.L.C.
	 	1. Lease dated 7/21/08
	 	Puente Partners, LLC
	 	7/31/2018
	 	N/A
	 

	 	 	 	 	 	2. Consent Agreement dated 7/21/08	 	 	 	 	 	 
	 

	 	 	 	 	 	3. First Amendment to Lease dated 12/9/08	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Second Amendment to Lease dated 08/24/2009	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Third Amendment to Lease dated 8/10/2010	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Unconditional Guaranty of Lease dated 7/21/08	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	29

	 	215 W Pearl St, Pomona, CA
	 	West Pearl Street, L.L.C.
	 	1. Lease dated 7/21/2008
	 	Country Oaks Partners, LLC
	 	7/31/2018
	 	N/A
	 

	 	 	 	 	 	2. Consent Agreement dated 7/21/08	 	 	 	 	 	 
	 

	 	 	 	 	 	3. First Amendment to Lease dated 12/9/08	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Second Amendment to Lease dated 08/24/2009	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Unconditional Guaranty of Lease dated 7/21/08	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	30

	 	7660 Wyngate St, Tujunga, CA
	 	Tujunga, L.L.C.*
	 	1. Lease dated 8/31/00
	 	Wyngate Nursing Center
	 	9/30/2040
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Lease dated 2/1/02	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Second Amendment to Lease dated 11/1/02	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Third Amendment to Lease dated 12/31/03	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Fourth Amendment to Lease Agreement dated 3/3/08	 	 	 	 	 	 
	 

	 	 	 	 	 	6. Fifth Amendment to Lease dated 12/9/08	 	 	 	 	 	 
	 

	 	 	 	 	 	7. Unconditional Guaranty of Lease dated 8/31/00	 	 	 	 	 	 

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Real Property Asset	 	 	 	 	 	 	 	Facility Operating Lease	 	 
	Site No.	 	Address	 	Borrower/Owner1	 	Facility Operating Leases	 	Eligible Tenant2	 	Termination Date	 	Ground Leases
	31

	 	600 E Washington Ave, Santa Ana, CA
	 	Santa Ana-Bartlett, L.L.C.*
	 	1. Lease dated 2/26/98
	 	Bartlett Care Center, LLC
	 	4/30/2028
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Lease dated 2/1/02	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Second Amendment to Lease dated 2/1/03	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Third Amendment to Lease dated 12/31/03	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Fourth Amendment to Lease Agreement dated 3/3/08	 	 	 	 	 	 
	 

	 	 	 	 	 	6. Fifth Amendment to Lease dated 12/9/08	 	 	 	 	 	 
	 

	 	 	 	 	 	7. Sixth Amendment to Lease dated 1/28/2009	 	 	 	 	 	 
	 

	 	 	 	 	 	8. Unconditional Guaranty of Lease dated 2/26/98	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	32

	 	1819 E. Chapman Ave, Fullerton, CA
	 	Fullerton California L.L.C.
	 	1. Lease dated 11/28/01
	 	Gordon Lane Healthcare, LLC
	 	11/30/2031
	 	N/A
	 

	 	 	 	 	 	2. First Amendment dated 2/1/02	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Second Amendment dated 12/31/03	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Third Amendment to Lease Agreement dated 3/3/08	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Fourth Amendment to Lease dated 12/9/08	 	 	 	 	 	 
	 

	 	 	 	 	 	6. Unconditional Guaranty of Lease dated 11/28/01	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	33

	 	8171 Magnolia Ave, Riverside, CA
	 	Riverside Nursing Home Associates, L.L.C.*
	 	1. Lease dated 6/18/98
	 	F & B Healthcare
	 	5/31/2028
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Lease dated 9/6/01	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Second Amendment to Lease dated 2/1/02	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Third Amendment to Lease dated 12/31/03	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Fourth Amendment to Lease Agreement dated 3/3/08	 	 	 	 	 	 
	 

	 	 	 	 	 	6. Fifth Amendment to Lease dated 12/9/08	 	 	 	 	 	 
	 

	 	 	 	 	 	7. Unconditional Guaranty of Lease dated 6/16/98	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	34

	 	8487 Magnolia Ave, Riverside, CA
	 	Casa/Sierra California Associates, L.L.C.
	 	1. Sublease dated 7/21/08
	 	Riverside Equities, LLC
	 	7/31/2018
	 	N/A
	 

	 	 	 	 	 	2. Consent Agreement dated 7/21/08	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Replacement Facility Agreement dated 7/21/08	 	 	 	 	 	 
	 

	 	 	 	 	 	4. First Amendment to Sublease dated 12/9/08	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Assignment and Assumption of Sublease dated 12/12/08	 	 	 	 	 	 
	 

	 	 	 	 	 	6. Second Amendment to Lease dated 08/24/2009	 	 	 	 	 	 
	 

	 	 	 	 	 	7. Unconditional Guaranty of SubLease dated 7/21/08	 	 	 	 	 	 

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Real Property Asset	 	 	 	 	 	 	 	Facility Operating Lease	 	 
	Site No.	 	Address	 	Borrower/Owner1	 	Facility Operating Leases	 	Eligible Tenant2	 	Termination Date	 	Ground Leases
	35

	 	15720 Bernardo Center Drive, San Diego, CA
	 	VRB Aviv, L.L.C.*
	 	1. Lease dated 8/21/96
	 	Villa Rancho Bernardo Health Care, LLC
	 	9/30/2026
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Lease dated 9/30/96	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Letter of Amendment dated 1/28/97	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Second Amendment to Lease dated 12/1/98	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Third Amendment to Lease dated 11/1999	 	 	 	 	 	 
	 

	 	 	 	 	 	6. Fourth Amendment to Lease dated 4/2002	 	 	 	 	 	 
	 

	 	 	 	 	 	7. Side Agreement to Lease dated 12/31/03	 	 	 	 	 	 
	 

	 	 	 	 	 	8. First Amendment to Side Agreement dated 5/11/04	 	 	 	 	 	 
	 

	 	 	 	 	 	9. Fifth Amendment to Lease dated 12/31/03	 	 	 	 	 	 
	 

	 	 	 	 	 	10. Second Side Agreement to Lease dated 11/1/07	 	 	 	 	 	 
	 

	 	 	 	 	 	11. Sixth Amendment to Lease dated 3/3/08	 	 	 	 	 	 
	 

	 	 	 	 	 	12. Seventh Amendment to Lease dated 12/9/08	 	 	 	 	 	 
	 

	 	 	 	 	 	13. Unconditional Guaranty of Lease dated 8/21/96	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	36

	 	2586 Buthmann Avenue, Tracy, CA
	 	California Aviv, L.L.C.
	 	1. Master Lease dated 7/22/08
	 	AB12 Master Tenant, L.L.C.
	 	8/31/2018
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Master Lease dated 4/21/09	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Side Letter to Master Lease dated 6/11/09	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Letter Agreement to Master Lease dated 4/29/2010	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Second Amendment to Master Lease dated 4/29/2010	 	 	 	 	 	 
	 

	 	 	 	 	 	6. Unconditional Guaranty of Lease dated 7/22/08	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	37

	 	300 Douglas Street, Petaluma, CA
	 	California Aviv Two, L.L.C.
	 	1. Master Lease dated 4/21/2009
	 	AB12 Master Tenant, L.L.C.
	 	8/31/2018
	 	N/A
	 

	 	 	 	 	 	2. Side Letter to Master Lease dated 6/11/09	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Letter Agreement to Master Lease dated 4/29/2010	 	 	 	 	 	 
	 

	 	 	 	 	 	4. First Amendment to Master Lease dated 4/29/2010	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Amended and Restated Unconditional Guaranty of Lease dated 4/21/09	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	38

	 	N/A
	 	SOLD — See Schedule 5.01(b)
	 	N/A
	 	N/A
	 	N/A
	 	N/A
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	39

	 	N/A
	 	SOLD — See Schedule 5.01(b)
	 	N/A
	 	N/A
	 	N/A
	 	N/A
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	40

	 	210 North Idaho St, Wendell, ID
	 	Idaho Associates, L.L.C.
	 	1. Lease dated 03/01/09
	 	Carefix Management and Consulting, Inc. d/b/a Safe
	 	2/28/2014
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Lease dated 6/16/2009
	 	Haven Health Care	 	 	 	 
	 

	 	 	 	 	 	3. Unconditional Guaranty of Lease dated 3/1/09	 	 	 	 	 	 

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Real Property Asset	 	 	 	 	 	 	 	Facility Operating Lease	 	 
	Site No.	 	Address	 	Borrower/Owner1	 	Facility Operating Leases	 	Eligible Tenant2	 	Termination Date	 	Ground Leases
	41

	 	1014 Burrell Ave, Lewiston, ID
	 	Idaho Associates, L.L.C.
	 	1. Lease dated 10/12/99
	 	Eagle Healthcare, Inc.
	 	12/31/2020
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Lease dated 8/10/00	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Second Amendment to Lease dated 10/31/05	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Third Amendment to Lease dated 1/1/06	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Fourth Amendment to Lease dated 10/31/08	 	 	 	 	 	 
	 

	 	 	 	 	 	6. Fifth Amendment to Lease dated 9/25/2009	 	 	 	 	 	 
	 

	 	 	 	 	 	7. Unconditional Guaranty of Lease dated 10/21/99	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	42

	 	1019 Third Ave S, Payette, ID
	 	Idaho Associates, L.L.C.
	 	1. Lease dated 2/24/97
	 	SunBridge Healthcare Corporation
	 	12/31/2016
	 	N/A
	 

	 	 	 	 	 	2. Memorandum of Lease dated 3/7/97	 	 	 	 	 	 
	 

	 	 	 	 	 	3. First Amendment to Lease dated 6/20/00	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Second Amendment to Lease dated 10/18/06	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Unconditional Guaranty of Lease dated 2/24/97	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	43

	 	640 Filer Ave. W, Twin Falls, ID
	 	Skyview Associates, L.L.C.
	 	1. Lease dated 8/1/87
	 	SunBridge Healthcare Corporation
	 	12/31/2016
	 	N/A
	 

	 	(604 and 650 Filer Avenue West, per
	 	 	 	2. Agreement to Amend Lease dated 9/1987	 	 	 	 	 	 
	 

	 	Assessor)
	 	 	 	3. Lease Assignment and Assumption dated 1/1/96	 	 	 	 	 	 
	 

	 	 	 	 	 	4. First Amendment to Lease dated 1/1/96	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Second Amendment to Lease dated 6/20/00	 	 	 	 	 	 
	 

	 	 	 	 	 	6. Third Amendment to Lease dated 10/18/06	 	 	 	 	 	 
	 

	 	 	 	 	 	7. Unconditional Guaranty of Lease dated 1/1/96	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	44

	 	418 Floyde St., McCall, ID
	 	Idaho Associates, L.L.C.
	 	1. Lease dated 10/17/06
	 	TanaBell Health Services, Inc.
	 	12/31/2016
	 	N/A
	 

	 	 	 	 	 	2. Consent to Sublease to InnoVenture Healthcare Management Inc.	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Sublease dated 11/22/06	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Consent to Assignment and Assumption of Lease dated 5/1/08	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Consent to Assignment and Assumption of Lease dated 8/1/08	 	 	 	 	 	 
	 

	 	 	 	 	 	6. Unconditional Guaranty of Lease dated 10/17/06	 	 	 	 	 	 

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Real Property Asset	 	 	 	 	 	 	 	Facility Operating Lease	 	 
	Site No.	 	Address	 	Borrower/Owner1	 	Facility Operating Leases	 	Eligible Tenant2	 	Termination Date	 	Ground Leases
	45

	 	3516 Powell Ln., Mattoon, IL
	 	Elite Mattoon, L.L.C.
	 	1. Sublease dated 2/28/03
	 	Douglas Rehabilitation and Care Center, LLC
	 	2/28/2018
	 	N/A
	 

	 	 	 	 	 	2. Amendment dated 2/28/03	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Letter of Agreement dated 2/28/03	 	 	 	 	 	 
	 

	 	 	 	 	 	4. First Amendment to Sublease dated 2/15/05	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Second Amendment to Sublease dated 4/1/05	 	 	 	 	 	 
	 

	 	 	 	 	 	6. Third Amendment to Sublease dated 3/1/06	 	 	 	 	 	 
	 

	 	 	 	 	 	7. Fourth Amendment to Sublease dated 9/1/07	 	 	 	 	 	 
	 

	 	 	 	 	 	8. Fifth Amendment to Sublease dated 3/7/08	 	 	 	 	 	 
	 

	 	 	 	 	 	9. Sixth Amendment to Sublease dated 12/1/08	 	 	 	 	 	 
	 

	 	 	 	 	 	10. Seventh Amendment to Sublease dated 12/10/2009	 	 	 	 	 	 
	 

	 	 	 	 	 	11. Unconditional Guaranty of SubLease dated 3/1/06	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	46

	 	1115 N Wenthe Ave, Effingham, IL
	 	Effingham Associates, L.L.C.
	 	1. Lease dated 8/1/03
	 	Evergreen Nursing & Rehabilitation Center, LLC
	 	2/28/2018
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Lease dated 4/1/05	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Second Amendment to Lease dated 3/1/06	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Third Amendment to Lease dated 9/1/07	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Fourth Amendment to Lease dated 12/1/08	 	 	 	 	 	 
	 

	 	 	 	 	 	6. Fifth Amendment to Lease dated 7/1/2009	 	 	 	 	 	 
	 

	 	 	 	 	 	7. Sixth Amendment to Lease dated 12/10/2009	 	 	 	 	 	 
	 

	 	 	 	 	 	8. Unconditional Guaranty of Lease dated 6/24/03	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	47

	 	1308 Game Farm Rd, Yorkville, IL
	 	Elite Yorkville, L.L.C.
	 	1. Lease dated 1/12/2009
	 	Helia Healthcare of Yorkville, LLC
	 	1/31/2019
	 	N/A
	 

	 	 	 	 	 	2. Side Letter dated 1/12/2009	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Unconditional Guaranty of Lease dated 1/12/09	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	48

	 	1450 26th St, Highland, IL
	 	Highland Leasehold, L.L.C.
	 	1. Sublease dated 5/1/92
	 	Covenant Care Midwest, Inc.
	 	12/31/2015
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Sublease dated 11/30/95	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Assignment and Assumption of Sublease and Consent to Assignment	 	 	 	 	 	 
	 

	 	 	 	 	 	dated 4/1/97	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Second Amendment to Sublease dated 1/1/05	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Assignment and Assumption of Lease Documents dated 6/30/05	 	 	 	 	 	 
	 

	 	 	 	 	 	6. Unconditional Guaranty of SubLease dated 4/1/97	 	 	 	 	 	 

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Real Property Asset	 	 	 	 	 	 	 	Facility Operating Lease	 	 
	Site No.	 	Address	 	Borrower/Owner1	 	Facility Operating Leases	 	Eligible Tenant2	 	Termination Date	 	Ground Leases
	49

	 	1201 Hawthorne Rd, Salem, IL
	 	Salem Associates, L.L.C.
	 	1. Lease dated 2/28/03
	 	Doctors Nursing and Rehabilitation Center, LLC
	 	2/28/2018
	 	N/A
	 

	 	 	 	 	 	2. Amendment to Lease dated 3/03	 	 	 	 	 	 
	 

	 	 	 	 	 	3. First Amendment to Lease dated 2/15/05	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Second Amendment to Lease dated 4/1/05	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Third Amendment to Lease dated 3/1/06	 	 	 	 	 	 
	 

	 	 	 	 	 	6. Fourth Amendment to Lease dated 9/1/07	 	 	 	 	 	 
	 

	 	 	 	 	 	7. Fifth Amendment to Lease dated 5/13/08	 	 	 	 	 	 
	 

	 	 	 	 	 	8. Sixth Amendment to Lease dated 12/1/08	 	 	 	 	 	 
	 

	 	 	 	 	 	9. Seventh Amendment to Lease dated 7/1/2009	 	 	 	 	 	 
	 

	 	 	 	 	 	10. Eighth Amendment to Lease dated 12/10/2009	 	 	 	 	 	 
	 

	 	 	 	 	 	11. Unconditional Guaranty of Lease dated 3/1/06	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	50

	 	410 East Mack, Olney, IL
	 	CR Aviv, L.L.C.
	 	1. Master Lease dated 12/04/2009
	 	Helia Healthcare of Olney, LLC
	 	12/31/2019
	 	N/A
	 

	 	 	 	 	 	2. Unconditional Guaranty of Master Lease dated 12/4/09	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	51

	 	40 North 64th Street, Belleville, IL
	 	Belleville Illinois, L.L.C.
	 	1. Lease dated 2/5/07
	 	Helia Healthcare of Belleville, LLC
	 	11/30/2017
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Lease dated 4/25/07	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Second Amendment to Lease dated 7/12/07	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Third Amendment to Lease dated 10/29/07	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Fourth Amendment to Lease dated 12/10/07	 	 	 	 	 	 
	 

	 	 	 	 	 	6. Fourth Amendment to Lease dated 1/12/2009	 	 	 	 	 	 
	 

	 	 	 	 	 	7. Unconditional Guaranty of Lease dated 2/5/07	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	52

	 	101 South Belt West, Belleville, IL
	 	Four Fountains Aviv, L.L.C.*
	 	1. Amended and Restated Lease dated 3/18/08
	 	Helia Southbelt Healthcare, LLC
	 	11/30/2017
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Amended and Restated Lease dated 9/8/08	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Second Amendment to Amended and Restated Lease dated 1/12/2009	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Unconditional Guaranty of Lease dated 11/1/07	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	53

	 	500 Peabody Ave, Peabody, KS
	 	Peabody Associates, L.L.C.
	 	1. Lease dated 5/1/97
	 	Markleysburg Healthcare Investors, L.P.
	 	6/30/2015
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Lease dated 10/23/06	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Second Amendment to Lease dated 8/28/2009	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Unconditional Guaranty of Lease dated 5/1/97	 	 	 	 	 	 
	 
	54

	 	1601 North Main, McPherson, KS
	 	Hutchinson Kansas, L.L.C.
	 	1. Master Lease dated 11/26/08
	 	McPherson Care Center, LLC
	 	12/31/2018
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Master Lease dated 5/4/2010	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Unconditional Guaranty of Master Lease dated 11/26/08	 	 	 	 	 	 

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Real Property Asset	 	 	 	 	 	 	 	Facility Operating Lease	 	 
	Site No.	 	Address	 	Borrower/Owner1	 	Facility Operating Leases	 	Eligible Tenant2	 	Termination Date	 	Ground Leases
	55

	 	2301 N. Severance St, Hutchinson, KS
	 	Hutchinson Kansas, L.L.C.
	 	1. Master Lease dated 11/26/08
	 	Hutchinson Care Center, LLC
	 	12/31/2018
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Master Lease dated 5/4/2010	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Unconditional Guaranty of Master Lease dated 11/26/08	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	56

	 	300 Winthrop Street, Medford, MA
	 	BHG Aviv, L.L.C.
	 	1. Master Lease dated 2/9/07
	 	Winthrop House Senior Services, LLC d/b/a Brighten
	 	2/28/2022
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Master Lease dated 3/11/08
	 	at Medford	 	 	 	 
	 

	 	 	 	 	 	3. Second Amendment to Master Lease dated 4/7/08	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Third Amendment to Master Lease dated 3/26/2010	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Unconditional Guaranty of Master Lease dated 2/9/07	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	57

	 	547 Highland Ave, Fall River, MA
	 	Massachusetts Nursing Homes, L.L.C.
	 	1. Lease dated 12/6/93
	 	SunBridge Healthcare Corporation
	 	12/31/2016
	 	N/A
	 

	 	 	 	 	 	2. First Amendment dated 12/6/93	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Agreement with Respect to and Second Amendment to Lease dated 9/1/95	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Third Amendment to Lease 9/1/95	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Fourth Amendment to Lease dated 2/15/96	 	 	 	 	 	 
	 

	 	 	 	 	 	6. Fifth Amendment to Lease dated 6/20/00	 	 	 	 	 	 
	 

	 	 	 	 	 	7. Sixth Amendment to Lease dated 6/30/02	 	 	 	 	 	 
	 

	 	 	 	 	 	8. Seventh Amendment to Lease dated 9/30/03	 	 	 	 	 	 
	 

	 	 	 	 	 	9. Eighth Amendment to Lease dated 1/1/06	 	 	 	 	 	 
	 

	 	 	 	 	 	10. Ninth Amendment to Lease dated 10/1/07	 	 	 	 	 	 
	 

	 	 	 	 	 	11. Tenth Amendment to Lease dated 8/12/2009	 	 	 	 	 	 
	 

	 	 	 	 	 	12. Eleventh Amendment to Lease dated 10/08/2009	 	 	 	 	 	 
	 

	 	 	 	 	 	13. Guaranty of Lease dated 12/6/93	 	 	 	 	 	 

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Real Property Asset	 	 	 	 	 	 	 	Facility Operating Lease	 	 
	Site No.	 	Address	 	Borrower/Owner1	 	Facility Operating Leases	 	Eligible Tenant2	 	Termination Date	 	Ground Leases
	58

	 	281 Broadway, Methuen, MA
	 	Massachusetts Nursing Homes, L.L.C.
	 	1. Lease dated 12/6/93
	 	SunBridge Healthcare Corporation
	 	12/31/2016
	 	N/A
	 

	 	 	 	 	 	2. First Amendment dated 12/6/93	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Agreement with Respect to and Second Amendment to Lease dated 9/1/95	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Third Amendment to Lease 9/1/95	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Fourth Amendment to Lease dated 2/15/96	 	 	 	 	 	 
	 

	 	 	 	 	 	6. Fifth Amendment to Lease dated 6/20/00	 	 	 	 	 	 
	 

	 	 	 	 	 	7. Sixth Amendment to Lease dated 6/30/02	 	 	 	 	 	 
	 

	 	 	 	 	 	8. Seventh Amendment to Lease dated 9/30/03	 	 	 	 	 	 
	 

	 	 	 	 	 	9. Eighth Amendment to Lease dated 1/1/06	 	 	 	 	 	 
	 

	 	 	 	 	 	10. Ninth Amendment to Lease dated 10/1/07	 	 	 	 	 	 
	 

	 	 	 	 	 	11. Tenth Amendment to Lease dated 8/12/2009	 	 	 	 	 	 
	 

	 	 	 	 	 	12. Eleventh Amendment to Lease dated 10/08/2009	 	 	 	 	 	 
	 

	 	 	 	 	 	13. Guaranty of Lease dated 12/6/93	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	59

	 	555 S Union St, Lawrence, MA
	 	Massachusetts Nursing Homes, L.L.C.
	 	1. Lease dated 12/6/93
	 	SunBridge Healthcare Corporation
	 	12/31/2016
	 	N/A
	 

	 	 	 	 	 	2. First Amendment dated 12/6/93	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Agreement with Respect to and Second Amendment to Lease dated 9/1/95	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Third Amendment to Lease 9/1/95	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Fourth Amendment to Lease dated 2/15/96	 	 	 	 	 	 
	 

	 	 	 	 	 	6. Fifth Amendment to Lease dated 6/20/00	 	 	 	 	 	 
	 

	 	 	 	 	 	7. Sixth Amendment to Lease dated 6/30/02	 	 	 	 	 	 
	 

	 	 	 	 	 	8. Seventh Amendment to Lease dated 9/30/03	 	 	 	 	 	 
	 

	 	 	 	 	 	9. Eighth Amendment to Lease dated 1/1/06	 	 	 	 	 	 
	 

	 	 	 	 	 	10. Ninth Amendment to Lease dated 10/1/07	 	 	 	 	 	 
	 

	 	 	 	 	 	11. Tenth Amendment to Lease dated 8/12/2009	 	 	 	 	 	 
	 

	 	 	 	 	 	12. Eleventh Amendment to Lease dated 10/08/2009	 	 	 	 	 	 
	 

	 	 	 	 	 	13. Guaranty of Lease dated 12/6/93	 	 	 	 	 	 

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Real Property Asset	 	 	 	 	 	 	 	Facility Operating Lease	 	 
	Site No.	 	Address	 	Borrower/Owner1	 	Facility Operating Leases	 	Eligible Tenant2	 	Termination Date	 	Ground Leases
	60

	 	800 Essex St, Lawrence, MA
	 	Massachusetts Nursing Homes, L.L.C.
	 	1. Lease dated 12/6/93
	 	SunBridge Healthcare Corporation
	 	12/31/2016
	 	N/A
	 

	 	 	 	 	 	2. First Amendment dated 12/6/93	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Agreement with Respect to and Second Amendment to Lease dated 9/1/95	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Third Amendment to Lease 9/1/95	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Fourth Amendment to Lease dated 2/15/96	 	 	 	 	 	 
	 

	 	 	 	 	 	6. Fifth Amendment to Lease dated 6/20/00	 	 	 	 	 	 
	 

	 	 	 	 	 	7. Sixth Amendment to Lease dated 6/30/02	 	 	 	 	 	 
	 

	 	 	 	 	 	8. Seventh Amendment to Lease dated 9/30/03	 	 	 	 	 	 
	 

	 	 	 	 	 	9. Eighth Amendment to Lease dated 1/1/06	 	 	 	 	 	 
	 

	 	 	 	 	 	10. Ninth Amendment to Lease dated 10/1/07	 	 	 	 	 	 
	 

	 	 	 	 	 	11. Tenth Amendment to Lease dated 8/12/2009	 	 	 	 	 	 
	 

	 	 	 	 	 	12. Eleventh Amendment to Lease dated 10/08/2009	 	 	 	 	 	 
	 

	 	 	 	 	 	13. Guaranty of Lease dated 12/6/93	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	61

	 	557 Varnum Ave, Lowell, MA
	 	Massachusetts Nursing Homes, L.L.C.
	 	1. Lease dated 12/6/93
	 	SunBridge Healthcare Corporation
	 	12/31/2016
	 	N/A
	 

	 	 	 	 	 	2. First Amendment dated 12/6/93	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Agreement with Respect to and Second Amendment to Lease dated 9/1/95	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Third Amendment to Lease 9/1/95	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Fourth Amendment to Lease dated 2/15/96	 	 	 	 	 	 
	 

	 	 	 	 	 	6. Fifth Amendment to Lease dated 6/20/00	 	 	 	 	 	 
	 

	 	 	 	 	 	7. Sixth Amendment to Lease dated 6/30/02	 	 	 	 	 	 
	 

	 	 	 	 	 	8. Seventh Amendment to Lease dated 9/30/03	 	 	 	 	 	 
	 

	 	 	 	 	 	9. Eighth Amendment to Lease dated 1/1/06	 	 	 	 	 	 
	 

	 	 	 	 	 	10. Ninth Amendment to Lease dated 10/1/07	 	 	 	 	 	 
	 

	 	 	 	 	 	11. Tenth Amendment to Lease dated 8/12/2009	 	 	 	 	 	 
	 

	 	 	 	 	 	12. Eleventh Amendment to Lease dated 10/08/2009	 	 	 	 	 	 
	 

	 	 	 	 	 	13. Guaranty of Lease dated 12/6/93	 	 	 	 	 	 

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Real Property Asset	 	 	 	 	 	 	 	Facility Operating Lease	 	 
	Site No.	 	Address	 	Borrower/Owner1	 	Facility Operating Leases	 	Eligible Tenant2	 	Termination Date	 	Ground Leases
	62

	 	134 North St, North Reading, MA
	 	Massachusetts Nursing Homes, L.L.C.
	 	1. Lease dated 12/6/93
	 	SunBridge Healthcare Corporation
	 	12/31/2016
	 	N/A
	 

	 	 	 	 	 	2. First Amendment dated 12/6/93	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Agreement with Respect to and Second Amendment to Lease dated 9/1/95	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Third Amendment to Lease 9/1/95	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Fourth Amendment to Lease dated 2/15/96	 	 	 	 	 	 
	 

	 	 	 	 	 	6. Fifth Amendment to Lease dated 6/20/00	 	 	 	 	 	 
	 

	 	 	 	 	 	7. Sixth Amendment to Lease dated 6/30/02	 	 	 	 	 	 
	 

	 	 	 	 	 	8. Seventh Amendment to Lease dated 9/30/03	 	 	 	 	 	 
	 

	 	 	 	 	 	9. Eighth Amendment to Lease dated 1/1/06	 	 	 	 	 	 
	 

	 	 	 	 	 	10. Ninth Amendment to Lease dated 10/1/07	 	 	 	 	 	 
	 

	 	 	 	 	 	11. Tenth Amendment to Lease dated 8/12/2009	 	 	 	 	 	 
	 

	 	 	 	 	 	12. Eleventh Amendment to Lease dated 10/08/2009	 	 	 	 	 	 
	 

	 	 	 	 	 	13. Guaranty of Lease dated 12/6/93	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	63

	 	18 Hammond St, Worcester, MA
	 	Massachusetts Nursing Homes, L.L.C.
	 	1. Lease dated 12/6/93
	 	SunBridge Healthcare Corporation
	 	12/31/2016
	 	N/A
	 

	 	 	 	 	 	2. First Amendment dated 12/6/93	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Agreement with Respect to and Second Amendment to Lease dated 9/1/95	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Third Amendment to Lease 9/1/95	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Fourth Amendment to Lease dated 2/15/96	 	 	 	 	 	 
	 

	 	 	 	 	 	6. Fifth Amendment to Lease dated 6/20/00	 	 	 	 	 	 
	 

	 	 	 	 	 	7. Sixth Amendment to Lease dated 6/30/02	 	 	 	 	 	 
	 

	 	 	 	 	 	8. Seventh Amendment to Lease dated 9/30/03	 	 	 	 	 	 
	 

	 	 	 	 	 	9. Eighth Amendment to Lease dated 1/1/06	 	 	 	 	 	 
	 

	 	 	 	 	 	10. Ninth Amendment to Lease dated 10/1/07	 	 	 	 	 	 
	 

	 	 	 	 	 	11. Tenth Amendment to Lease dated 8/12/2009	 	 	 	 	 	 
	 

	 	 	 	 	 	12. Eleventh Amendment to Lease dated 10/08/2009	 	 	 	 	 	 
	 

	 	 	 	 	 	13. Guaranty of Lease dated 12/6/93	 	 	 	 	 	 

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Real Property Asset	 	 	 	 	 	 	 	Facility Operating Lease	 	 
	Site No.	 	Address	 	Borrower/Owner1	 	Facility Operating Leases	 	Eligible Tenant2	 	Termination Date	 	Ground Leases
	64

	 	81 Chatham St, Worcester, MA
	 	Massachusetts Nursing Homes, L.L.C.
	 	1. Lease dated 12/6/93
	 	SunBridge Healthcare Corporation
	 	12/31/2016
	 	N/A
	 

	 	 	 	 	 	2. First Amendment dated 12/6/93	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Agreement with Respect to and Second Amendment to Lease dated 9/1/95	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Third Amendment to Lease 9/1/95	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Fourth Amendment to Lease dated 2/15/96	 	 	 	 	 	 
	 

	 	 	 	 	 	6. Fifth Amendment to Lease dated 6/20/00	 	 	 	 	 	 
	 

	 	 	 	 	 	7. Sixth Amendment to Lease dated 6/30/02	 	 	 	 	 	 
	 

	 	 	 	 	 	8. Seventh Amendment to Lease dated 9/30/03	 	 	 	 	 	 
	 

	 	 	 	 	 	9. Eighth Amendment to Lease dated 1/1/06	 	 	 	 	 	 
	 

	 	 	 	 	 	10. Ninth Amendment to Lease dated 10/1/07	 	 	 	 	 	 
	 

	 	 	 	 	 	11. Tenth Amendment to Lease dated 8/12/2009	 	 	 	 	 	 
	 

	 	 	 	 	 	12. Eleventh Amendment to Lease dated 10/08/2009	 	 	 	 	 	 
	 

	 	 	 	 	 	13. Guaranty of Lease dated 12/6/93	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	65

	 	3 Pine St, Oxford, MA
	 	Massachusetts Nursing Homes, L.L.C.
	 	1. Lease dated 12/6/93
	 	SunBridge Healthcare Corporation
	 	12/31/2016
	 	N/A
	 

	 	 	 	 	 	2. First Amendment dated 12/6/93	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Agreement with Respect to and Second Amendment to Lease dated 9/1/95	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Third Amendment to Lease 9/1/95	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Fourth Amendment to Lease dated 2/15/96	 	 	 	 	 	 
	 

	 	 	 	 	 	6. Fifth Amendment to Lease dated 6/20/00	 	 	 	 	 	 
	 

	 	 	 	 	 	7. Sixth Amendment to Lease dated 6/30/02	 	 	 	 	 	 
	 

	 	 	 	 	 	8. Seventh Amendment to Lease dated 9/30/03	 	 	 	 	 	 
	 

	 	 	 	 	 	9. Eighth Amendment to Lease dated 1/1/06	 	 	 	 	 	 
	 

	 	 	 	 	 	10. Ninth Amendment to Lease dated 10/1/07	 	 	 	 	 	 
	 

	 	 	 	 	 	11. Tenth Amendment to Lease dated 8/12/2009	 	 	 	 	 	 
	 

	 	 	 	 	 	12. Eleventh Amendment to Lease dated 10/08/2009	 	 	 	 	 	 
	 

	 	 	 	 	 	13. Guaranty of Lease dated 12/6/93	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	66

	 	1385 E Empire Ave, Benton Harbor, MI
	 	Benton Harbor, L.L.C.
	 	1. Lease Dated 9/5/02
	 	Northpoint Senior Services, LLC
	 	9/30/2013
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Lease dated 9/13/02	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Second Amendment to Lease dated 12/17/02	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Third Amendment to Lease dated 1/15/03	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Fourth Amendment to Lease dated 10/1/04	 	 	 	 	 	 
	 

	 	 	 	 	 	6. Fifth Amendment to Lease dated 5/20/2010	 	 	 	 	 	 
	 

	 	 	 	 	 	6. Unconditional Guaranty of Lease dated 7/27/04	 	 	 	 	 	 
	 

	 	 	 	 	 	7. Unconditional Guaranty of Lease dated 9/5/02	 	 	 	 	 	 

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Real Property Asset	 	 	 	 	 	 	 	Facility Operating Lease	 	 
	Site No.	 	Address	 	Borrower/Owner1	 	Facility Operating Leases	 	Eligible Tenant2	 	Termination Date	 	Ground Leases
	67

	 	120 Baseline Road, South Haven, MI
	 	Chippewa Valley, L.L.C.
	 	1. Lease Agreement dated 2/6/96
	 	CCG-Countryside, LLC
	 	4/30/2011
	 	N/A
	 

	 	 	 	 	 	2. Assignment and Assumption of Lease dated 5/30/97	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Assignment and Assumption of Lease dated 5/1/00	 	 	 	 	 	 
	 

	 	 	 	 	 	4. First Amendment to Lease dated 10/21/05	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Unconditional Guaranty of Lease dated 5/1/00	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	68

	 	500 Russell St, Willmar, MN
	 	Minnesota Associates, L.L.C.
	 	1. Master Lease dated 8/19/2008
	 	Willmar Commons Nursing & Rehabilitation, Inc.
	 	8/31/2013
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Master Lease dated 3/27/09	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Second Amendment to Master Lease dated 4/1/2010	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Unconditional Guaranty of Master Lease dated 8/19/08	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	69

	 	1738 Hulet Ave, Faribault, MN
	 	Minnesota Associates, L.L.C.
	 	1. Master Lease dated 8/19/2008
	 	Faribault Commons Nursing & Rehabilitation, Inc.
	 	8/31/2013
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Master Lease dated 3/27/09	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Second Amendment to Master Lease dated 4/1/2010	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Unconditional Guaranty of Master Lease dated 8/19/08	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	70

	 	201 18th St. Southwest, Owatonna, MN
	 	Minnesota Associates, L.L.C.
	 	1. Master Lease dated 8/19/2008
	 	Owatonna Commons Nursing & Rehabilitation, Inc.
	 	8/31/2013
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Master Lease dated 3/27/09	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Second Amendment to Master Lease dated 4/1/2010	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Unconditional Guaranty of Master Lease dated 8/19/08	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	71

	 	410 W. Benton, Monett, MO
	 	Missouri Regency Associates, L.L.C.
	 	1. Master Lease dated 5/7/2010
	 	Benchmark West Missouri Healthcare, LLC
	 	6/30/2020
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Master Lease dated 7/26/2010	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Consent to Sublease, Attornment and Unconditional Guaranty of	 	 	 	 	 	 
	 

	 	 	 	 	 	Master Lease dated 8/9/2010	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Unconditional Guaranty of Master Lease dated 5/7/10	 	 	 	 	 	 

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Real Property Asset	 	 	 	 	 	 	 	Facility Operating Lease	 	 
	Site No.	 	Address	 	Borrower/Owner1	 	Facility Operating Leases	 	Eligible Tenant2	 	Termination Date	 	Ground Leases
	72

	 	307 E South St, Harrisonville, MO
	 	Missouri Regency Associates, L.L.C.
	 	1. Master Lease dated 5/7/2010
	 	Benchmark West Missouri Healthcare, LLC
	 	6/30/2020
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Master Lease dated 7/26/2010	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Consent to Sublease, Attornment and Unconditional Guaranty of	 	 	 	 	 	 
	 

	 	 	 	 	 	Master Lease dated 8/9/2010	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Unconditional Guaranty of Master Lease dated 5/7/10	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	73

	 	2203 East Mechanic, Harrisonville, MO
	 	Missouri Regency Associates, L.L.C.
	 	1. Master Lease dated 5/7/2010
	 	Benchmark West Missouri Healthcare, LLC
	 	6/30/2020
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Master Lease dated 7/26/2010	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Consent to Sublease, Attornment and Unconditional Guaranty of	 	 	 	 	 	 
	 

	 	 	 	 	 	Master Lease dated 8/9/2010	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Unconditional Guaranty of Master Lease dated 5/7/10	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	74

	 	6124 Raytown Rd, Raytown, MO
	 	Missouri Regency Associates, L.L.C.
	 	1. Master Lease dated 5/7/2010
	 	Benchmark West Missouri Healthcare, LLC
	 	6/30/2020
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Master Lease dated 7/26/2010	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Consent to Sublease, Attornment and Unconditional Guaranty of	 	 	 	 	 	 
	 

	 	 	 	 	 	Master Lease dated 8/9/2010	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Unconditional Guaranty of Master Lease dated 5/7/10	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	75

	 	1501 Southwest Third St, Lee’s Summit, MO
	 	Missouri Regency Associates, L.L.C.
	 	1. Master Lease dated 5/7/2010
	 	Benchmark West Missouri Healthcare, LLC
	 	6/30/2020
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Master Lease dated 7/26/2010	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Consent to Sublease, Attornment and Unconditional Guaranty of	 	 	 	 	 	 
	 

	 	 	 	 	 	Master Lease dated 8/9/2010	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Unconditional Guaranty of Master Lease dated 5/7/10	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Unconditional Guaranty of Master Lease dated 5/7/10	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	76

	 	1221 S Highway 13, Lexington, MO
	 	Santa Fe Missouri Associates, L.L.C.
	 	1. Lease dated 12/23/05
	 	Lexington Manor Healthcare Group, Inc.
	 	12/31/2015
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Lease dated 1/1/07	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Second Amendment to Lease dated 4/28/08	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Third Amendment to Lease dated 7/15/2009	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Fourth Amendment to Lease dated 9/23/2009	 	 	 	 	 	 
	 

	 	 	 	 	 	6. Unconditional Guaranty of Lease dated 12/23/05	 	 	 	 	 	 

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Real Property Asset	 	 	 	 	 	 	 	Facility Operating Lease	 	 
	Site No.	 	Address	 	Borrower/Owner1	 	Facility Operating Leases	 	Eligible Tenant2	 	Termination Date	 	Ground Leases
	77

	 	1200 McCutchen Dr, Rolla, MO
	 	CR Aviv, L.L.C.
	 	1. Master Lease dated 12/04/2009
	 	Helia Healthcare of Rolla, LLC
	 	12/31/2019
	 	N/A
	 

	 	 	 	 	 	2. Unconditional Guaranty of Master Lease dated 12/4/09	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	78

	 	2840 West Clay, St Charles, MO
	 	CR Aviv, L.L.C.
	 	1. Master Lease dated 12/10/2009
	 	Northwestern Nursing & Rehabilitation Center, LLC
	 	12/31/2019
	 	N/A
	 

	 	 	 	 	 	2. Unconditional Guaranty of Master Lease dated 12/10/09
	 	dba Grand River Nursing & Rehabilitation Center,	 	 	 	 
	 

	 	 	 	 	 	 	 	LLC	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	79

	 	2600 Redman Rd, St Louis, MO
	 	CR Aviv, L.L.C.
	 	1. Master Lease dated 12/10/2009
	 	Northeastern Nursing & Rehabilitation Center, LLC
	 	12/31/2019
	 	N/A
	 

	 	 	 	 	 	2. Unconditional Guaranty of Master Lease dated 12/10/09
	 	dba Willowbrooke Nursing & Rehabilitation Center,	 	 	 	 
	 

	 	 	 	 	 	 	 	LLC	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	80

	 	1441 Charic Dr, Ballwin, MO
	 	CR Aviv, L.L.C.
	 	1. Master Lease dated 12/10/2009
	 	Western Nursing & Rehabilitation Center, LLC dba
	 	12/31/2019
	 	N/A
	 

	 	 	 	 	 	2. Unconditional Guaranty of Master Lease dated 12/10/09
	 	Wildwood Nursing & Rehabilitation Center, LLC	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	81

	 	9 14th Ave, Polson, MT
	 	Montana Associates, L.L.C.
	 	1. Lease dated 2/26/97
	 	Evergreen at Polson, LLC
	 	2/28/2015
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Lease dated 5/7/97	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Second Amendment to Lease dated 12/17/03	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Third Amendment to Lease dated 10/25/06	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Fourth Amendment to Lease dated 11/15/07	 	 	 	 	 	 
	 

	 	 	 	 	 	6. Fifth Amendment to Lease dated 8/1/08	 	 	 	 	 	 
	 

	 	 	 	 	 	7. Sixth Amendment to Lease dated 4/30/09	 	 	 	 	 	 
	 

	 	 	 	 	 	8. Unconditional Guaranty of Lease dated 2/97	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	82

	 	600 First Ave N, Hot Springs, MT
	 	Montana Associates, L.L.C.
	 	1. Lease dated 2/26/97
	 	Evergreen at Hot Springs, LLC
	 	2/28/2015
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Lease dated 5/7/97	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Second Amendment to Lease dated 12/17/03	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Third Amendment to Lease dated 10/25/06	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Fourth Amendment to Lease dated 11/15/07	 	 	 	 	 	 
	 

	 	 	 	 	 	6. Fifth Amendment to Lease dated 8/1/08	 	 	 	 	 	 
	 

	 	 	 	 	 	7. Sixth Amendment to Lease dated 4/30/09	 	 	 	 	 	 
	 

	 	 	 	 	 	8. Unconditional Guaranty of Lease dated 2/97	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	83

	 	3110 Scott Circle, Omaha, NE
	 	Florence Heights Associates, L.L.C.
	 	1. Lease dated 9/12/2008
	 	LTC Healthcare at Florence, Inc.
	 	9/30/2018
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Lease dated 8/16/2010	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Unconditional Guaranty of Lease dated 9/12/08	 	 	 	 	 	 

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Real Property Asset	 	 	 	 	 	 	 	Facility Operating Lease	 	 
	Site No.	 	Address	 	Borrower/Owner1	 	Facility Operating Leases	 	Eligible Tenant2	 	Termination Date	 	Ground Leases
	84

	 	7410 Mercy Rd, Omaha, NE
	 	Omaha Associates, L.L.C.
	 	1. Lease Agreement dated 10/1/89
	 	Covenant Care Midwest, Inc.
	 	12/31/2015
	 	N/A
	 

	 	 	 	 	 	2. Addendum to Lease Agreement dated 10/1/89	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Second Addendum to Lease Agreement dated 11/1/89	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Assignment and Assumption of Lease and Landlord’s Consent dated	 	 	 	 	 	 
	 

	 	 	 	 	 	6/30/90	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Memorandum of Lease and Purchase Option dated 11/30/95	 	 	 	 	 	 
	 

	 	 	 	 	 	6. First Amendment to Lease Agreement dated 11/30/95	 	 	 	 	 	 
	 

	 	 	 	 	 	7. Second Amendment to Lease Agreement dated 10/30/96	 	 	 	 	 	 
	 

	 	 	 	 	 	8. Assignment and Assumption of Lease, Consent to Assignment and	 	 	 	 	 	 
	 

	 	 	 	 	 	Assumption and Amendment to Lease dated 4/1/97	 	 	 	 	 	 
	 

	 	 	 	 	 	9. Unconditional Guaranty of Lease dated 4/1/97	 	 	 	 	 	 
	 

	 	 	 	 	 	10. Corrective Memorandum of Lease and Purchase Option dated 4/28/97	 	 	 	 	 	 
	 

	 	 	 	 	 	11. Third Amendment to Lease Agreement dated 5/20/05	 	 	 	 	 	 
	 

	 	 	 	 	 	12. Fourth Amendment to Lease Agreement dated 7/13/07	 	 	 	 	 	 
	 

	 	 	 	 	 	13. Fifth Amendment to Lease Agreement dated 6/2/08	 	 	 	 	 	 
	 

	 	 	 	 	 	14. Sixth Amendment to Lease dated 4/1/09	 	 	 	 	 	 
	 

	 	 	 	 	 	15. Seventh Amendment to Lease dated 4/26/2010	 	 	 	 	 	 
	 

	 	 	 	 	 	16. Eighth Amendment to Lease dated 8/28/2010	 	 	 	 	 	 
	 

	 	 	 	 	 	17. Unconditional Guaranty of Lease dated 4/1/97	 	 	 	 	 	 

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Real Property Asset	 	 	 	 	 	 	 	Facility Operating Lease	 	 
	Site No.	 	Address	 	Borrower/Owner1	 	Facility Operating Leases	 	Eligible Tenant2	 	Termination Date	 	Ground Leases
	85

	 	1660 Hospital Dr, Raton, NM
	 	Raton Property Limited Company
	 	1. Lease dated 11/26/96
	 	Raton Nursing Operations, LLC, dba Raton Nursing &
	 	9/30/2021
	 	N/A
	 

	 	 	 	 	 	2. Consent to Assignment and Assumption of Lease dated 9/1/03
	 	Rehab Center	 	 	 	 
	 

	 	 	 	 	 	3. Assignment and Assumption of Lease dated 9/1/03	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Payment Agreement dated 9/28/05	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Consent to Assignment and Assumption of Lease dated 4/1/07	 	 	 	 	 	 
	 

	 	 	 	 	 	6. Assignment and Assumption of Lease dated 4/1/07	 	 	 	 	 	 
	 

	 	 	 	 	 	7. Agreement dated 4/1/07	 	 	 	 	 	 
	 

	 	 	 	 	 	8. Amendment to Lease dated 4/1/07	 	 	 	 	 	 
	 

	 	 	 	 	 	9. Second Amendment to Lease dated 10/31/07	 	 	 	 	 	 
	 

	 	 	 	 	 	10. Third Amendment to Lease dated 12/29/2009	 	 	 	 	 	 
	 

	 	 	 	 	 	11. Unconditional Guaranty of Lease dated 4/1/07	 	 	 	 	 	 
	 

	 	 	 	 	 	12. Unconditional Guaranty of Lease dated 4/1/07	 	 	 	 	 	 

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Real Property Asset	 	 	 	 	 	 	 	Facility Operating Lease	 	 
	Site No.	 	Address	 	Borrower/Owner1	 	Facility Operating Leases	 	Eligible Tenant2	 	Termination Date	 	Ground Leases
	86

	 	3514 Fowler Ave, Silver City, NM
	 	N.M. Silver City Three Plus One Limited Company
	 	1. Sub-Lease Agreement dated 2/24/95
	 	Silver City Nursing Operations, LLC, dba Silver
	 	9/30/2021
	 	Lessor
	 

	 	 	 	 	 	2. Assignment dated 3/1/95
	 	City Care Center
	 	 	 	 
	 

	 	 	 	 	 	3. First Amendment to Sub-Lease dated 12/23/96
	 	 	 	 	 	County of Grant, New Mexico
	 

	 	 	 	 	 	4. Assignment and Assumption of Real Property Lease dated 12/31/97
	 	 	 	 	 	Termination Date
	 

	 	 	 	 	 	5. Amendment to Lease dated 12/1/01
	 	 	 	 	 	 
	 

	 	 	 	 	 	6. Consent to Assignment and Assumption of Lease dated 9/1/03
	 	 	 	 	 	12/1/2033
	 

	 	 	 	 	 	7. Assignment and Assumption of Lease dated 9/1/03
	 	 	 	 	 	Ground Lease
	 

	 	 	 	 	 	8. Payment Agreement dated 9/28/05
	 	 	 	 	 	 
	 

	 	 	 	 	 	9. Consent to Assignment and Assumption of Lease dated 4/1/07
	 	 	 	 	 	1. Ground Lease dated 12/1/1983
	 

	 	 	 	 	 	10. Assignment and Assumption of Lease dated 4/1/07
	 	 	 	 	 	2. Assignment and Assumption of
	 

	 	 	 	 	 	11. Agreement dated 4/1/07
	 	 	 	 	 	Ground Lease dated “June __, 2005”
	 

	 	 	 	 	 	12. Amendment to Lease dated 4/1/07	 	 	 	 	 	 
	 

	 	 	 	 	 	13. Second Amendment to Lease dated 12/29/2009	 	 	 	 	 	 
	 

	 	 	 	 	 	14. Unconditional Guaranty of Lease dated 9/1/03	 	 	 	 	 	 
	 

	 	 	 	 	 	15. Unconditional Guaranty of Lease dated 4/1/07	 	 	 	 	 	 
	 

	 	 	 	 	 	16. Unconditional Guaranty of Lease dated 4/1/07	 	 	 	 	 	 

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Real Property Asset	 	 	 	 	 	 	 	Facility Operating Lease	 	 
	Site No.	 	Address	 	Borrower/Owner1	 	Facility Operating Leases	 	Eligible Tenant2	 	Termination Date	 	Ground Leases
	87

	 	603 Hadeco Drive, Lordsburg, NM
	 	N.M. Lordsburg Three Plus One Limited Company
	 	1. Sub-Lease Agreement dated 2/24/95
	 	Sunshine Haven Nursing Operations LLC, dba Sunshine
	 	9/30/2021
	 	N/A
	 

	 	 	 	 	 	2. Assignment dated 3/1/95
	 	Haven at Lordsburg	 	 	 	 
	 

	 	 	 	 	 	3. First Amendment to Sub-Lease dated 12/23/96	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Assignment and Assumption of Real Property Lease dated 12/31/97	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Amendment to Lease dated 12/1/01	 	 	 	 	 	 
	 

	 	 	 	 	 	6. Consent to Assignment and Assumption of Lease dated 9/1/03	 	 	 	 	 	 
	 

	 	 	 	 	 	7. Assignment and Assumption of Lease dated 9/1/03	 	 	 	 	 	 
	 

	 	 	 	 	 	8. Payment Agreement dated 9/28/05	 	 	 	 	 	 
	 

	 	 	 	 	 	9. Consent to Assignment and Assumption of Lease dated 4/1/07	 	 	 	 	 	 
	 

	 	 	 	 	 	10. Assignment and Assumption of Lease dated 4/1/07	 	 	 	 	 	 
	 

	 	 	 	 	 	11. Agreement dated 4/1/07	 	 	 	 	 	 
	 

	 	 	 	 	 	12. Amendment to Lease dated 4/1/07	 	 	 	 	 	 
	 

	 	 	 	 	 	13. Second Amendment to Lease dated 12/29/2009	 	 	 	 	 	 
	 

	 	 	 	 	 	14. Unconditional Guaranty of Lease dated 4/1/07	 	 	 	 	 	 
	 

	 	 	 	 	 	15. Unconditional Guaranty of Lease dated 4/1/07	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	88

	 	2101 Bensing Rd, Hobbs, NM
	 	Hobbs Associates, L.L.C.
	 	1. Lease dated 6/2000
	 	Country Cottage Nursing Operations, LLC, dba
	 	9/30/2021
	 	N/A
	 

	 	 	 	 	 	2. Personal Property Lease dated 6/2000
	 	Country Cottage Care & Rehab	 	 	 	 
	 

	 	 	 	 	 	3. Assignment and Assumption of Lease dated 8/1/03	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Amended and Restated Consent to Assignment and Assumption of Lease	 	 	 	 	 	 
	 

	 	 	 	 	 	dated 8/1/03	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Payment Agreement dated 9/28/05	 	 	 	 	 	 
	 

	 	 	 	 	 	6. Consent to Assignment and Assumption of Lease dated 4/1/07	 	 	 	 	 	 
	 

	 	 	 	 	 	7. Assignment and Assumption of Lease dated 4/1/07	 	 	 	 	 	 
	 

	 	 	 	 	 	8. Agreement dated 4/1/07	 	 	 	 	 	 
	 

	 	 	 	 	 	9. Amendment to Lease dated 4/1/07	 	 	 	 	 	 
	 

	 	 	 	 	 	10. Second Amendment to Lease dated 12/29/2009	 	 	 	 	 	 
	 

	 	 	 	 	 	11. Unconditional Guaranty of Lease dated 4/1/07	 	 	 	 	 	 
	 

	 	 	 	 	 	12. Unconditional Guaranty of Lease dated 4/1/07	 	 	 	 	 	 

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Real Property Asset	 	 	 	 	 	 	 	Facility Operating Lease	 	 
	Site No.	 	Address	 	Borrower/Owner1	 	Facility Operating Leases	 	Eligible Tenant2	 	Termination Date	 	Ground Leases
	89

	 	3720 Church Rock Rd, Gallup, NM
	 	Red Rocks, L.L.C.
	 	1. Lease dated 7/31/92
	 	Red Rocks Nursing Operations, LLC, dba Red Rocks
	 	9/30/2021
	 	N/A
	 

	 	 	 	 	 	2. Assignment and Assumption of Lease dated 12/17/97
	 	Care Center	 	 	 	 
	 

	 	 	 	 	 	3. Assignment and Assumption of Real Property Lease dated 12/31/97	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Consent to Assignment and Assumption of Lease dated 9/1/03	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Assignment and Assumption of Lease dated 9/1/03	 	 	 	 	 	 
	 

	 	 	 	 	 	6. Payment Agreement dated 9/28/05	 	 	 	 	 	 
	 

	 	 	 	 	 	7. Consent to Assignment and Assumption of Lease dated 4/1/07	 	 	 	 	 	 
	 

	 	 	 	 	 	8. Assignment and Assumption of Lease dated 4/1/07	 	 	 	 	 	 
	 

	 	 	 	 	 	9. Agreement dated 4/1/07	 	 	 	 	 	 
	 

	 	 	 	 	 	10. Amendment to Lease dated 4/1/07	 	 	 	 	 	 
	 

	 	 	 	 	 	11. Second Amendment to Lease dated 10/31/07	 	 	 	 	 	 
	 

	 	 	 	 	 	12. Third Amendment to Lease dated 12/29/2009	 	 	 	 	 	 
	 

	 	 	 	 	 	13. Unconditional Guaranty of Lease dated 9/1/03	 	 	 	 	 	 
	 

	 	 	 	 	 	14. Unconditional Guaranty of Lease dated 4/1/07	 	 	 	 	 	 
	 

	 	 	 	 	 	15. Unconditional Guaranty of Lease dated 4/1/07	 	 	 	 	 	 

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Real Property Asset	 	 	 	 	 	 	 	Facility Operating Lease	 	 
	Site No.	 	Address	 	Borrower/Owner1	 	Facility Operating Leases	 	Eligible Tenant2	 	Termination Date	 	Ground Leases
	90

	 	720 Hacienda St, Espanola, NM
	 	N.M. Espanola Three Plus One Limited Company
	 	1. Sub-Lease Agreement dated 2/24/95
	 	Espanola Valley Nursing Operations, LLC, dba
	 	9/30/2021
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Sub-Lease dated 12/23/96
	 	Espanola Valley Nursing & Rehab	 	 	 	 
	 

	 	 	 	 	 	3. Assignment and Assumption of Real Property Lease dated 12/31/97	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Amendment to Lease dated 12/1/01	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Consent to Assignment and Assumption of Lease dated 9/1/03	 	 	 	 	 	 
	 

	 	 	 	 	 	6. Assignment and Assumption of Lease dated 9/1/03	 	 	 	 	 	 
	 

	 	 	 	 	 	7. Payment Agreement dated 9/28/05	 	 	 	 	 	 
	 

	 	 	 	 	 	8. Consent to Assignment and Assumption of Lease dated 4/1/07	 	 	 	 	 	 
	 

	 	 	 	 	 	9. Assignment and Assumption of Lease dated 4/1/07	 	 	 	 	 	 
	 

	 	 	 	 	 	10. Agreement dated 4/1/07	 	 	 	 	 	 
	 

	 	 	 	 	 	11. Amendment to Lease dated 4/1/07	 	 	 	 	 	 
	 

	 	 	 	 	 	12. Second Amendment to Lease dated 10/25/07	 	 	 	 	 	 
	 

	 	 	 	 	 	13. Third Amendment to Lease dated 12/29/2009	 	 	 	 	 	 
	 

	 	 	 	 	 	14. Unconditional Guaranty of Lease dated 9/1/03	 	 	 	 	 	 
	 

	 	 	 	 	 	15. Unconditional Guaranty of Lease dated 4/1/07	 	 	 	 	 	 
	 

	 	 	 	 	 	16. Unconditional Guaranty of Lease dated 4/1/07	 	 	 	 	 	 

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Real Property Asset	 	 	 	 	 	 	 	Facility Operating Lease	 	 
	Site No.	 	Address	 	Borrower/Owner1	 	Facility Operating Leases	 	Eligible Tenant2	 	Termination Date	 	Ground Leases
	91

	 	803 Hacienda Ln., Bloomfield, NM
	 	N.M. Bloomfield Three Plus One Limited Company
	 	1. Sub-Lease Agreement dated 2/24/95
	 	Bloomfield Nursing Operations LLC, dba Bloomfield
	 	9/30/2021
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Sub-Lease dated 12/23/96
	 	Nursing & Rehab	 	 	 	 
	 

	 	 	 	 	 	3. Assignment and Assumption of Real Property Lease dated 12/31/97	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Consent to Assignment and Assumption of Lease dated 9/1/03	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Assignment and Assumption of Lease dated 9/1/03	 	 	 	 	 	 
	 

	 	 	 	 	 	6. Payment Agreement dated 9/28/05	 	 	 	 	 	 
	 

	 	 	 	 	 	7. Consent to Assignment and Assumption of Lease dated 4/1/07	 	 	 	 	 	 
	 

	 	 	 	 	 	8. Assignment and Assumption of Lease dated 4/1/07	 	 	 	 	 	 
	 

	 	 	 	 	 	9. Agreement dated 4/1/07	 	 	 	 	 	 
	 

	 	 	 	 	 	10. Amendment to Lease dated 4/1/07	 	 	 	 	 	 
	 

	 	 	 	 	 	11. Second Amendment to Lease dated 10/31/07	 	 	 	 	 	 
	 

	 	 	 	 	 	12. Third Amendment to Lease dated 12/29/2009	 	 	 	 	 	 
	 

	 	 	 	 	 	13. Unconditional Guaranty of Lease dated 4/1/07	 	 	 	 	 	 
	 

	 	 	 	 	 	14. Unconditional Guaranty of Lease dated 4/1/07	 	 	 	 	 	 

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Real Property Asset	 	 	 	 	 	 	 	Facility Operating Lease	 	 
	Site No.	 	Address	 	Borrower/Owner1	 	Facility Operating Leases	 	Eligible Tenant2	 	Termination Date	 	Ground Leases
	92

	 	1650 Galisteo St, Santa Fe, NM
	 	Alamogordo Aviv, L.L.C.
	 	1. Sublease dated January, 1991
	 	Casa Real Nursing Operations, LLC, dba Casa Real
	 	9/30/2021
	 	N/A
	 

	 	 	 	 	 	2. Amendment to Sublease dated 1/1/91	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Lease dated 1/1/91	 	 	 	 	 	 
	 

	 	 	 	 	 	4. First Amendment to Lease dated 7/1/91	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Second Amendment to Sublease dated 7/1/91	 	 	 	 	 	 
	 

	 	 	 	 	 	6. Third Amendment to Sublease dated 7/1/91	 	 	 	 	 	 
	 

	 	 	 	 	 	7. Assignment dated 12/31/97	 	 	 	 	 	 
	 

	 	 	 	 	 	8. Consent to Assignment dated 9/1/03	 	 	 	 	 	 
	 

	 	 	 	 	 	9. Assignment and Assumption of Lease 9/1/03	 	 	 	 	 	 
	 

	 	 	 	 	 	10. Payment Agreement dated 9/28/05	 	 	 	 	 	 
	 

	 	 	 	 	 	11. Consent to Assignment and Assumption of Lease dated 4/1/07	 	 	 	 	 	 
	 

	 	 	 	 	 	12. Assignment and Assumption of Lease dated 4/1/07	 	 	 	 	 	 
	 

	 	 	 	 	 	13. Agreement dated 4/1/07	 	 	 	 	 	 
	 

	 	 	 	 	 	14. Amendment to Lease dated 4/1/07	 	 	 	 	 	 
	 

	 	 	 	 	 	15. Second Amendment to Lease dated 10/25/07	 	 	 	 	 	 
	 

	 	 	 	 	 	16. Third Amendment to Lease dated 5/8/09	 	 	 	 	 	 
	 

	 	 	 	 	 	17. Fourth Amendment to Lease dated 7/13/2009	 	 	 	 	 	 
	 

	 	 	 	 	 	18. Fifth Amendment to Lease dated 12/29/2009	 	 	 	 	 	 
	 

	 	 	 	 	 	19. Unconditional Guaranty of Lease dated 4/1/07	 	 	 	 	 	 
	 

	 	 	 	 	 	20. Unconditional Guaranty of Lease dated 4/1/07	 	 	 	 	 	 

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Real Property Asset	 	 	 	 	 	 	 	Facility Operating Lease	 	 
	Site No.	 	Address	 	Borrower/Owner1	 	Facility Operating Leases	 	Eligible Tenant2	 	Termination Date	 	Ground Leases
	93

	 	419 Harding St, Clayton, NM
	 	Clayton Associates, L.L.C.
	 	1. Lease dated 1/10/90
	 	Clayton Nursing Operations, LLC, dba Clayton
	 	9/30/2021
	 	N/A
	 

	 	 	 	 	 	2. Lease Assignment and Transfer of Operations dated 12/30/93
	 	Nursing & Rehab	 	 	 	 
	 

	 	 	 	 	 	3. Assignment and Assumption of Lease dated 9/1/03	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Payment Agreement dated 9/28/05	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Consent to Assignment and Assumption of Lease dated 4/1/07	 	 	 	 	 	 
	 

	 	 	 	 	 	6. Assignment and Assumption of Lease dated 4/1/07	 	 	 	 	 	 
	 

	 	 	 	 	 	7. Agreement dated 4/1/07	 	 	 	 	 	 
	 

	 	 	 	 	 	8. Amendment to Lease dated 4/1/07	 	 	 	 	 	 
	 

	 	 	 	 	 	9. Second Amendment to Lease dated 10/31/07	 	 	 	 	 	 
	 

	 	 	 	 	 	10. Third Amendment to Lease dated 12/29/2009	 	 	 	 	 	 
	 

	 	 	 	 	 	11. Unconditional Guaranty of Lease dated 4/1/07	 	 	 	 	 	 
	 

	 	 	 	 	 	12. Unconditional Guaranty of Lease dated 4/1/07	 	 	 	 	 	 
	 
	94

	 	201 Koontz Lane, Carson City, NV
	 	California Aviv Two, L.L.C.
	 	1. Master Lease dated 4/21/2009
	 	AB12 Master Tenant, L.L.C.
	 	8/31/2018
	 	N/A
	 

	 	 	 	 	 	2. Side Letter to Master Lease dated 6/11/09	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Letter Agreement to Master Lease dated 4/29/2010	 	 	 	 	 	 
	 

	 	 	 	 	 	4. First Amendment to Master Lease dated 4/29/2010	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Amended and Restated Unconditional Guaranty of Lease dated 4/21/09	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	95

	 	9117 Cincinnati- Columbus Rd, West
	 	Ohio Aviv, L.L.C.
	 	1. Master Lease dated 12/1/06
	 	West Chester Healthcare Group, Inc. dba West
	 	11/30/2016
	 	N/A
	 

	 	Chester, OH
	 	 	 	2. First Amendment to Master Lease dated 7/15/2009
	 	Chester Nursing and Rehabilitation Center	 	 	 	 
	 

	 	 	 	 	 	3. Second Amendment to Master Lease dated 09/23/2009	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Unconditional Guaranty dated 12/1/06	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	96

	 	75 Hale St, Wilmington, OH
	 	Ohio Aviv, L.L.C.
	 	1. Master Lease dated 12/1/06
	 	Wilmington Healthcare Group, Inc. dba Wilmington
	 	11/30/2016
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Master Lease dated 7/15/2009
	 	Nursing and Rehabilitation Center	 	 	 	 
	 

	 	 	 	 	 	3. Second Amendment to Master Lease dated 09/23/2009	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Unconditional Guaranty dated 12/1/06	 	 	 	 	 	 

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Real Property Asset	 	 	 	 	 	 	 	Facility Operating Lease	 	 
	Site No.	 	Address	 	Borrower/Owner1	 	Facility Operating Leases	 	Eligible Tenant2	 	Termination Date	 	Ground Leases
	97

	 	4900 Cooper Rd, Cincinnati, OH
	 	Ohio Aviv, L.L.C.
	 	1. Master Lease dated 12/1/06
	 	Blue Ash Healthcare Group, Inc. dba Blue Ash Care
	 	11/30/2016
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Master Lease dated 7/15/2009
	 	Center	 	 	 	 
	 

	 	 	 	 	 	3. Second Amendment to Master Lease dated 09/23/2009	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Unconditional Guaranty dated 12/1/06	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	98

	 	32900 Detroit Rd, Avon, OH
	 	Avon Ohio, L.L.C.
	 	1. Lease dated 2/23/07
	 	Good Samaritan Health Group, Inc.
	 	3/31/2017
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Lease dated 11/7/07	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Second Amendment to Lease dated 4/1/08	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Third Amendment to Lease dated 5/12/08	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Consent to Sublease Agreement dated 3/19/08	 	 	 	 	 	 
	 

	 	 	 	 	 	6. Commencement Date Memorandum (relates to Sublease) dated 6/17/08	 	 	 	 	 	 
	 

	 	 	 	 	 	7. Fourth Amendment to Lease dated 8/19/2008	 	 	 	 	 	 
	 

	 	 	 	 	 	8. Fifth Amendment to Lease dated 4/1/2010	 	 	 	 	 	 
	 

	 	 	 	 	 	9. Unconditional Guaranty of Lease dated 2/23/07	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	99

	 	2124 Park Avenue West, Mansfield, OH
	 	Mansfield Aviv, L.L.C.
	 	1. Lease dated 4/1/08
	 	Ontario Commons, Inc. dba The Gables
	 	3/31/2017
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Lease dated 8/19/2008	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Second Amendment to Lease dated 4/1/2010	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Unconditional Guaranty of Lease dated 4/1/08	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	100

	 	745 NE 122nd Ave, Portland, OR
	 	Oregon Associates, L.L.C.
	 	1. Lease dated 10/12/99
	 	Eagle Healthcare, Inc.
	 	12/31/2020
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Lease dated 8/10/00	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Second Amendment to Lease dated 10/31/05	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Third Amendment to Lease dated 1/1/06	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Fourth Amendment to Lease dated 10/31/08	 	 	 	 	 	 
	 

	 	 	 	 	 	6. Fifth Amendment to Lease dated 9/25/2009	 	 	 	 	 	 
	 

	 	 	 	 	 	7. Unconditional Guaranty of Lease dated 10/12/99	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	101

	 	120 Elzora St, Milton-Freewater, OR (104
	 	Freewater Oregon, L.L.C.
	 	1. Lease dated 10/25/06
	 	Evergreen Oregon Healthcare Orchards Rehabilitation, L.L.C.
	 	10/31/2016
	 	N/A
	 

	 	Elzora Street per Assessor)
	 	 	 	2. First Amendment to Lease dated 8/1/08
	 	 	 	 	 
	 

	 	 	 	 	 	3. Second Amendment to Lease dated 4/30/09	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Unconditional Guaranty of Lease dated 10/25/06	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	102

	 	1010 NE Third, Milton-Freewater, OR
	 	Freewater Oregon, L.L.C.
	 	1. Lease dated 10/25/06
	 	Evergreen Oregon Healthcare Orchards Retirement,
	 	10/31/2016
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Lease dated 8/1/08
	 	L.L.C.	 	 	 	 
	 

	 	 	 	 	 	3. Second Amendment to Lease dated 4/30/09	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Unconditional Guaranty of Lease dated 10/25/06	 	 	 	 	 	 

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Real Property Asset	 	 	 	 	 	 	 	Facility Operating Lease	 	 
	Site No.	 	Address	 	Borrower/Owner1	 	Facility Operating Leases	 	Eligible Tenant2	 	Termination Date	 	Ground Leases
	103

	 	91 Aries Lane, LeGrande, OR
	 	California Aviv, L.L.C.
	 	1. Master Lease dated 7/22/08
	 	AB12 Master Tenant, L.L.C.
	 	8/31/2018
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Master Lease dated 4/21/09	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Side Letter to Master Lease dated 6/11/09	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Letter Agreement to Master Lease dated 4/29/2010	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Second Amendment to Master Lease dated 4/29/2010	 	 	 	 	 	 
	 

	 	 	 	 	 	6. Unconditional Guaranty of Lease dated 7/22/08	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	104

	 	103 Adams Ave, La Grande, OR
	 	Washington-Oregon Associates, L.L.C.
	 	1. Lease dated 2/11/98
	 	Evergreen Oregon Healthcare Valley View, LLC
	 	2/28/2015
	 	N/A
	 

	 	 	 	 	 	2. First Amendment dated 12/17/03	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Second Amendment to Lease dated 10/25/06	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Third Amendment to Lease dated 11/15/07	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Fourth Amendment to Lease dated 8/1/08	 	 	 	 	 	 
	 

	 	 	 	 	 	6. Fifth Amendment to Lease dated 4/30/09	 	 	 	 	 	 
	 

	 	 	 	 	 	7. Sixth Amendment to Lease dated 7/15/09	 	 	 	 	 	 
	 

	 	 	 	 	 	8. Unconditional Guaranty of Lease dated 2/11/98	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	105

	 	1023 W 25th St, The Dalles, OR
	 	Washington-Oregon Associates, L.L.C.
	 	1. Lease dated 2/11/98
	 	Evergreen Oregon Healthcare Valley Vista, LLC
	 	2/28/2015
	 	N/A
	 

	 	 	 	 	 	2. First Amendment dated 12/17/03	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Second Amendment to Lease dated 10/25/06	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Third Amendment to Lease dated 11/15/07	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Fourth Amendment to Lease dated 8/1/08	 	 	 	 	 	 
	 

	 	 	 	 	 	6. Fifth Amendment to Lease dated 4/30/09	 	 	 	 	 	 
	 

	 	 	 	 	 	7. Unconditional Guaranty of Lease dated 2/11/98	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	106

	 	43 Church Lane, Broomall, PA
	 	BHG Aviv, L.L.C.
	 	1. Master Lease dated 4/07/08
	 	Broomall Healthcare Group, Inc.
	 	4/11/2018
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Master Lease dated 7/15/2009	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Second Amendment to Master Lease dated 9/23/2009	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Unconditional Guaranty dated 4/7/08	 	 	 	 	 	 

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Real Property Asset	 	 	 	 	 	 	 	Facility Operating Lease	 	 
	Site No.	 	Address	 	Borrower/Owner1	 	Facility Operating Leases	 	Eligible Tenant2	 	Termination Date	 	Ground Leases
	107

	 	32 South Bethlehem Pike, Ambler, PA
	 	BHG Aviv, L.L.C.
	 	1. Master Lease dated 2/9/07
	 	Ambler Senior Services, LLC d/b/a Brighten at Ambler
	 	2/28/2022
	 	Lessor
	 

	 	 	 	 	 	2. First Amendment to Master Lease dated 3/11/08
	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Second Amendment to Master Lease dated 4/7/08
	 	 	 	 	 	Elizabeth F. Reilly (50%), James
	 

	 	 	 	 	 	4. Third Amendment to Master Lease dated 3/26/2010
	 	 	 	 	 	McConnell and Judy McConnell (husband
	 

	 	 	 	 	 	5. Unconditional Guaranty of Master Lease dated 2/9/07
	 	 	 	 	 	and wife) (25%), and Roberta Rae
	 

	 	 	 	 	 	 	 	 	 	 	 	Andrew Trust (25%)
	 

	 	 	 	 	 	 	 	 	 	 	 	Termination Date
	 

	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 	 	 	 	2/25/2064
	 

	 	 	 	 	 	 	 	 	 	 	 	Ground Lease
	 

	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 	 	 	 	1. Lease dated 2/15/1965
	 

	 	 	 	 	 	 	 	 	 	 	 	2. Addendum and Assignment of Lease
	 

	 	 	 	 	 	 	 	 	 	 	 	dated 10/4/1965
	 

	 	 	 	 	 	 	 	 	 	 	 	3. Amendment of Lease dated 10/19/1965
	 

	 	 	 	 	 	 	 	 	 	 	 	4. Assignment of Lease dated 1/1/2006
	 

	 	 	 	 	 	 	 	 	 	 	 	5. Assignment of Lease dated “___
	 

	 	 	 	 	 	 	 	 	 	 	 	day of February, 2007”
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	108

	 	956 Railroad Avenue, Bryn Mawr, PA
	 	BHG Aviv, L.L.C.
	 	1. Master Lease dated 2/9/07
	 	Chateau Senior Services, LLC d/b/a Brighten at Bryn
	 	2/28/2022
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Master Lease dated 3/11/08
	 	Mawr	 	 	 	 
	 

	 	 	 	 	 	3. Second Amendment to Master Lease dated 4/7/08	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Third Amendment to Master Lease dated 3/26/2010	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Unconditional Guaranty of Master Lease dated 2/9/07	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	109

	 	1401 Golf Park Drive, Lake Ariel, PA
	 	BHG Aviv, L.L.C.
	 	1. Master Lease dated 2/9/07
	 	Julia Ribaudo Senior Services, LLC d/b/a Brighten
	 	2/28/2022
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Master Lease dated 3/11/08
	 	at Julia Ribaudo	 	 	 	 
	 

	 	 	 	 	 	3. Second Amendment to Master Lease dated 4/7/08	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Third Amendment to Master Lease dated 3/26/2010	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Unconditional Guaranty of Master Lease dated 2/9/07	 	 	 	 	 	 

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Real Property Asset	 	 	 	 	 	 	 	Facility Operating Lease	 	 
	Site No.	 	Address	 	Borrower/Owner1	 	Facility Operating Leases	 	Eligible Tenant2	 	Termination Date	 	Ground Leases
	110

	 	8020 Blanco Rd, San Antonio, TX
	 	Karan Associates, L.L.C.
	 	1. Lease dated 8/1/03
	 	Blanco Villa Nursing and Rehab., LP
	 	5/31/2021
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Lease dated 5/31/06	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Second Amendment to Lease dated 7/15/09	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Third Amendment to Lease dated 4/19/2010	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Letter dated 4/21/2010 exercising 5-year extension option	 	 	 	 	 	 
	 

	 	 	 	 	 	6. Unconditional Guaranty of Lease dated 8/1/03	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	111

	 	1000 FM 3220, Clifton, TX
	 	Missouri Associates, L.L.C.
	 	1. Lease dated 8/1/03
	 	Clifton Nursing and Rehab., LP
	 	5/31/2021
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Lease dated 5/31/06	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Second Amendment to Lease dated 7/15/09	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Letter dated 4/21/2010 exercising 5-year extension option	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Unconditional Guaranty of Master Lease dated 8/1/03	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	112

	 	101 West Avenue E, Valley Mills, TX
	 	October Associates, L.L.C.
	 	1. Lease dated 8/1/03
	 	Valley Mills Nursing and Rehab., LP
	 	5/31/2021
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Lease dated 5/31/06	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Letter dated 4/21/2010 exercising 5-year extension option	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Unconditional Guaranty of Lease dated 8/1/03	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	113

	 	1301 South Terrell Street, Falfurrias, TX
	 	Falfurrias Texas, L.L.C.
	 	1. Lease dated 5/31/06
	 	Falfurrias Nursing and Rehabilitation, L.P.
	 	5/31/2021
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Lease dated 7/15/09	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Letter dated 4/21/2010 exercising 5-year extension option	 	 	 	 	 	 
	 

	 	 	 	 	 	Unconditional Guaranty of Lease dated 4. Unconditional Guaranty of	 	 	 	 	 	 
	 

	 	 	 	 	 	Lease dated 5/31/06	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	114

	 	101 Miller Dr, Brownwood, TX
	 	Manor Associates, L.L.C.
	 	1. Lease dated 8/1/03
	 	Brownwood Nursing and Rehabilitation, L.P.
	 	5/31/2021
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Lease dated 5/31/06	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Second Amendment to Lease dated 7/15/09	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Letter dated 4/21/2010 exercising 5-year extension option	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Unconditional Guaranty of Lease dated 8/1/03	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	115

	 	224 East Sixth Street, Baird, TX
	 	HHM Aviv, L.L.C.
	 	1. Master Lease dated 6/21/2007
	 	Baird Long Term Care, LLC d/b/a Homestead Nursing
	 	7/31/2017
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Lease dated 7/31/07
	 	and Rehabilitation of Baird	 	 	 	 
	 

	 	 	 	 	 	3. Unconditional Guaranty of Master Lease dated 6/21/07	 	 	 	 	 	 

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Real Property Asset	 	 	 	 	 	 	 	Facility Operating Lease	 	 
	Site No.	 	Address	 	Borrower/Owner1	 	Facility Operating Leases	 	Eligible Tenant2	 	Termination Date	 	Ground Leases
	116

	 	300 E Brown St, Wylie, TX
	 	Karan Associates, L.L.C.
	 	1. Lease dated 8/1/03
	 	Hillcrest Nursing and Rehabilitation, L.P.
	 	5/31/2021
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Lease dated 5/31/06	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Second Amendment to Lease dated 7/15/09	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Letter dated 4/21/2010 exercising 5-year extension option	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Unconditional Guaranty of Lease dated 8/1/03	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	117

	 	103 Sweetbriar Lane, Columbus, TX
	 	Columbus Texas Aviv, L.L.C.
	 	1. Lease dated 5/31/06
	 	Columbus Nursing and Rehabilitation, LP
	 	5/31/2021
	 	N/A
	 

	 	 	 	 	 	2. Letter dated 4/21/2010 exercising 5-year extension option	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Unconditional Guaranty of Lease dated 5/31/06	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	118

	 	2021 Shoaf Dr, Irving, TX
	 	Karan Associates Two, L.L.C.
	 	1. Lease dated 2/15/94
	 	Ashford Hall, Inc., f/k/a Lion Health Centers
	 	11/30/2025
	 	N/A
	 

	 	 	 	 	 	2. Letter of Agreement dated 4/13/04
	 	(Irving), Inc.	 	 	 	 
	 

	 	 	 	 	 	3. First Amendment to Lease Agreement dated 11/5/07	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	119

	 	321 N Shiloh Rd, Garland, TX
	 	Karan Associates, L.L.C.
	 	1. Lease dated 8/1/03
	 	Garland Nursing and Rehabilitation, L.P.
	 	5/31/2021
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Lease dated 5/31/06	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Second Amendment to Lease dated 7/15/09	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Letter dated 4/21/2010 exercising 5-year extension option	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Unconditional Guaranty of Lease dated 8/1/03	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	120

	 	619 N Britain Rd, Irving, TX
	 	Manor Associates, L.L.C.
	 	1. Lease dated 8/1/03
	 	Irving Nursing and Rehabilitation, L.P.
	 	5/31/2021
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Lease dated 5/31/06	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Letter dated 4/21/2010 exercising 5-year extension option	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Unconditional Guaranty of Lease dated 8/1/03	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	121

	 	1241 Westridge Ave, Lancaster, TX
	 	Karan Associates, L.L.C.
	 	1. Lease dated 8/1/03
	 	Westridge Nursing and Rehabilitation, L.P.
	 	5/31/2021
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Lease dated 5/31/06	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Letter dated 4/21/2010 exercising 5-year extension option	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Unconditional Guaranty of Lease dated 8/1/03	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	122

	 	110 W. Hwy 64, Cooper, TX
	 	Commerce Nursing Homes, L.L.C.
	 	1. Lease dated 8/1/03
	 	Birchwood Nursing and Rehabilitation, L.P.
	 	5/31/2021
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Lease dated 5/31/06	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Second Amendment to Lease dated 7/15/09	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Letter dated 4/21/2010 exercising 5-year extension option	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Unconditional Guaranty of Lease dated 8/1/03	 	 	 	 	 	 

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Real Property Asset	 	 	 	 	 	 	 	Facility Operating Lease	 	 
	Site No.	 	Address	 	Borrower/Owner1	 	Facility Operating Leases	 	Eligible Tenant2	 	Termination Date	 	Ground Leases
	123

	 	1404 Front Street, Cisco, TX
	 	HHM Aviv, L.L.C.
	 	1. Master Lease dated 6/21/2007
	 	Cisco Long Term Care, LLC d/b/a Homestead Nursing
	 	7/31/2017
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Lease dated 7/31/07
	 	and Rehabilitation of Cisco	 	 	 	 
	 

	 	 	 	 	 	3. Unconditional Guaranty of Master Lease dated 6/21/07	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	124

	 	600 West Roosevelt, Gorman, TX
	 	HHM Aviv, L.L.C.
	 	1. Master Lease dated 6/21/2007
	 	Gorman Long Term Care, LLC d/b/a Homestead Nursing
	 	7/31/2017
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Lease dated 7/31/07
	 	and Rehabilitation of Gorman	 	 	 	 
	 

	 	 	 	 	 	3. Unconditional Guaranty of Master Lease dated 6/21/07	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	125

	 	709 West Fifth Street, Bonham, TX
	 	Bonham Texas, L.L.C.
	 	1. Lease dated 5/31/06
	 	Bonham Nursing and Rehabilitation, L.P.
	 	5/31/2021
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Lease dated 7/15/09	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Letter dated 4/21/2010 exercising 5-year extension option	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Unconditional Guaranty of Lease dated 5/31/06	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	126

	 	901 Seven Oaks Rd, Bonham, TX
	 	Savoy/Bonham Venture, L.L.C.
	 	1. Lease dated 8/1/03
	 	Seven Oaks Nursing and Rehabilitation, L.P.
	 	5/31/2021
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Lease dated 5/31/06	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Second Amendment to Lease dated 7/15/09	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Letter dated 4/21/2010 exercising 5-year extension option	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Unconditional Guaranty of Lease dated 8/1/03	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	127

	 	424 US Hwy 67 West, Mount Vernon, TX
	 	Mt. Vernon Texas, L.L.C.
	 	1. Lease dated 5/31/06
	 	Terry Haven Nursing and Rehabilitation, L.P.
	 	5/31/2021
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Lease dated 7/15/09	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Letter dated 4/21/2010 exercising 5-year extension option	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Unconditional Guaranty of Lease dated 5/31/06	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	128

	 	501 North Main Street, Collinsville, TX
	 	HHM Aviv, L.L.C.
	 	1. Master Lease dated 6/21/2007
	 	Collinsville Long Term Care, LLC d/b/a Homestead
	 	7/31/2017
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Lease dated 7/31/07
	 	Nursing and Rehabilitation of Collinsville	 	 	 	 
	 

	 	 	 	 	 	3. Unconditional Guaranty of Master Lease dated 6/21/07	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	129

	 	601 E Hwy 69, Denison, TX
	 	Denison Texas, L.L.C.
	 	1. Lease dated 5/31/06
	 	Denison Nursing and Rehabilitation, L.P.
	 	5/31/2021
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Lease dated 7/15/09	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Letter dated 4/21/2010 exercising 5-year extension option	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Unconditional Guaranty of Lease dated 5/31/06	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	130

	 	1315 East State Hwy 22, Hamilton, TX
	 	Karan Associates, L.L.C.
	 	1. Lease dated 7/17/07
	 	Hamilton Ridge Operations, LLC
	 	9/30/2021
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Lease dated 8/24/07	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Second Amendment to Lease dated 12/29/2009	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Unconditional Guaranty of Lease dated 7/17/07	 	 	 	 	 	 

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Real Property Asset	 	 	 	 	 	 	 	Facility Operating Lease	 	 
	Site No.	 	Address	 	Borrower/Owner1	 	Facility Operating Leases	 	Eligible Tenant2	 	Termination Date	 	Ground Leases
	131

	 	4225 Denmark, Houston, TX
	 	Houston Texas Aviv, L.L.C.
	 	1. Lease dated 5/31/06
	 	Houston Nursing and Rehabilitation, L.P.
	 	5/31/2021
	 	N/A
	 

	 	 	 	 	 	2. Letter dated 4/21/2010 exercising 5-year extension option	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Unconditional Guaranty of Lease dated 5/31/06	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	132

	 	1725 Old Brandon Road, Hillsboro, TX
	 	HHM Aviv, L.L.C.
	 	1. Master Lease dated 6/21/2007
	 	Hillsboro Long Term Care, LLC d/b/a Homestead
	 	7/31/2017
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Lease dated 7/31/07
	 	Nursing and Rehabilitation of Hillsboro	 	 	 	 
	 

	 	 	 	 	 	3. Unconditional Guaranty of Master Lease dated 6/21/07	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	133

	 	409 Files Street, Itasca, TX
	 	HHM Aviv, L.L.C.
	 	1. Master Lease dated 6/21/2007
	 	Itasca Long Term Care, LLC d/b/a Homestead Nursing
	 	7/31/2017
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Master Lease dated 7/31/07
	 	and Rehabilitation of Itasca	 	 	 	 
	 

	 	 	 	 	 	3. Unconditional Guaranty of Master Lease dated 6/21/07	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	134

	 	300 W Crockett, Wolfe City, TX
	 	Commerce Nursing Homes, L.L.C.
	 	1. Lease dated 8/1/03
	 	Smith Nursing and Rehabilitation, L.P.
	 	5/31/2021
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Lease dated 5/31/06	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Second Amendment to Lease dated 7/15/09	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Letter dated 4/21/2010 exercising 5-year extension option	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Unconditional Guaranty of Lease dated 8/1/03	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	135

	 	316 General Cavazos Boulevard, 

Kingsville, TX
	 	Kingsville Texas, L.L.C.
	 	1. Lease dated 5/31/06
	 	Kleberg County Nursing and Rehabilitation, L.P.
	 	5/31/2021
	 	N/A
	 

	 	 
	 	 	 	2. First Amendment to Lease dated 7/15/09	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Letter dated 4/21/2010 exercising 5-year extension option	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Unconditional Guaranty of Lease dated 5/31/06	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	136

	 	310 E Lawrence St, Dayton, TX
	 	Aviv Liberty, L.L.C.
	 	1. Lease dated 8/1/03
	 	Heritage Villa Nursing and Rehabilitation, L.P.
	 	5/31/2021
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Lease dated 5/31/06	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Second Amendment to Lease dated 7/15/09	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Letter dated 4/21/2010 exercising 5-year extension option	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Unconditional Guaranty of Lease dated 8/1/03	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	137

	 	1100 W. Broadway, Stanton, TX
	 	October Associates, L.L.C.
	 	1. Lease dated 8/1/03
	 	Stanton Nursing and Rehabilitation, L.P.
	 	5/31/2021
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Lease dated 5/31/06	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Second Amendment to Lease dated 7/15/09	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Letter dated 4/21/2010 exercising 5-year extension option	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Unconditional Guaranty of Lease dated 8/1/03	 	 	 	 	 	 

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Real Property Asset	 	 	 	 	 	 	 	Facility Operating Lease	 	 
	Site No.	 	Address	 	Borrower/Owner1	 	Facility Operating Leases	 	Eligible Tenant2	 	Termination Date	 	Ground Leases
	138

	 	3000 N Danville Rd, Willis, TX
	 	Willis Texas Aviv, L.L.C.
	 	1. Lease dated 5/31/06
	 	Willis Nursing and Rehabilitation., L.P.
	 	5/31/2021
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Lease dated 7/15/09	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Letter dated 4/21/2010 exercising 5-year extension option	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Unconditional Guaranty of Lease dated 5/31/06	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	139

	 	510 N. 3rd St, Orange, TX
	 	Orange, L.L.C.
	 	1. Lease dated 8/1/03
	 	Orange Villa Nursing and Rehabilitation., L.P.
	 	5/31/2021
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Lease dated 5/31/06	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Letter dated 4/21/2010 exercising 5-year extension option	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Unconditional Guaranty of Lease dated 8/1/03	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	140

	 	3000 Cardinal Drive, Orange, TX
	 	Orange, L.L.C.
	 	1. Lease dated 8/1/03
	 	Pinehurst Nursing and Rehabilitation, L.P.
	 	5/31/2021
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Lease dated 5/31/06	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Second Amendment to Lease dated 7/15/09	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Letter dated 4/21/2010 exercising 5-year extension option	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Unconditional Guaranty of Lease dated 8/1/03	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	141

	 	1402 E Broad St, Mansfield, TX
	 	Karan Associates, L.L.C.
	 	1. Lease dated 8/1/03
	 	Mansfield Nursing and Rehabilitation, L.P.
	 	5/31/2021
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Lease dated 5/31/06	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Letter dated 4/21/2010 exercising 5-year extension option	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Unconditional Guaranty of Lease dated 8/1/03	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	142

	 	7804 Virgil R Anthony Blvd, Watauga, TX
	 	Watauga Associates, L.L.C.
	 	1. Lease dated 8/1/03
	 	North Pointe Nursing and Rehabilitation., L.P.
	 	5/31/2021
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Lease dated 5/31/06	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Second Amendment to Lease dated 7/15/09	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Letter dated 4/21/2010 exercising 5-year extension option	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Unconditional Guaranty of Lease dated 8/1/03	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	143

	 	701 Saint Louis Ave, Fort Worth, TX
	 	Aviv Liberty, L.L.C.
	 	1. Lease dated 8/1/03
	 	Wellington Oaks Nursing and Rehabilitation, L.P.
	 	5/31/2021
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Lease dated 5/31/06	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Second Amendment to Lease dated 7/15/09	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Letter dated 4/21/2010 exercising 5-year extension option	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Unconditional Guaranty of Lease dated 8/1/03	 	 	 	 	 	 

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Real Property Asset	 	 	 	 	 	 	 	Facility Operating Lease	 	 
	Site No.	 	Address	 	Borrower/Owner1	 	Facility Operating Leases	 	Eligible Tenant2	 	Termination Date	 	Ground Leases
	144

	 	110 E Live Oak St, Austin, TX
	 	Karan Associates, L.L.C.
	 	1. Lease dated 7/17/07
	 	Austin Rehab Operations LLC
	 	9/30/2021
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Lease dated 10/30/07	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Second Amendment to Lease dated 10/31/07	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Third Amendment to Lease dated 12/29/2009	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Unconditional Guaranty of Lease dated 7/17/07	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	145

	 	703 N Titus, Gilmer, TX
	 	Giltex Care, L.L.C.
	 	1. Lease dated 7/16/99
	 	R.A.M.M. Health Care Corporation
	 	10/31/2019
	 	N/A
	 

	 	 	 	 	 	2. Amendment to Lease dated 12/10/99	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Lease Extension Option dated 11/5/03	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Agreement to Assign Lease dated 10/31/08	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Second Amendment to Lease dated 02/11/09	 	 	 	 	 	 
	 

	 	 	 	 	 	6. Third Amendment to Lease dated 12/31/2009	 	 	 	 	 	 
	 

	 	 	 	 	 	7. Fourth Amendment to Lease dated 3/22/2010	 	 	 	 	 	 
	 

	 	 	 	 	 	8. Unconditional Guaranty of Lease dated 7/16/99	 	 	 	 	 	 
	 

	 	 	 	 	 	9. Unconditional Guaranty of Lease dated 10/31/08	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	146

	 	1000 S Kiowa St, Wheeler, TX
	 	Wheeler Healthcare Associates, L.L.C.
	 	1. Lease dated 8/1/03
	 	Wheeler Nursing and Rehabilitation, L.P.
	 	5/31/2021
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Lease dated 5/31/06	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Second Amendment to Lease dated 7/15/09	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Letter dated 4/21/2010 exercising 5-year extension option	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Unconditional Guaranty of Lease dated 8/1/03	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	147

	 	524 East 800 North, Ogden, UT
	 	Ogden Associates, L.L.C.
	 	1. Lease dated 3/1/09
	 	Lomond Peak Care and Rehab, Inc.
	 	2/28/2019
	 	N/A
	 

	 	 	 	 	 	2. Unconditional Guaranty of Lease dated 3/1/09	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	148

	 	1242 11th St, Clarkston, WA
	 	Clarkston Care, L.L.C.*
	 	1. Lease dated 12/14/93
	 	Eagle Healthcare, Inc.
	 	12/31/2020
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Lease dated 7/24/98	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Letter of Amendment dated 7/24/98	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Second Amendment to Lease dated 4/16/99	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Third Amendment to Lease dated 7/13/99	 	 	 	 	 	 
	 

	 	 	 	 	 	6. Fourth Amendment to Lease dated 8/1/01	 	 	 	 	 	 
	 

	 	 	 	 	 	7. Lease Renewal Letter dated 10/3/03	 	 	 	 	 	 
	 

	 	 	 	 	 	8. Fifth Amendment to Lease dated 10/31/05	 	 	 	 	 	 
	 

	 	 	 	 	 	9. Sixth Amendment to Lease dated 1/1/06	 	 	 	 	 	 
	 

	 	 	 	 	 	10. Seventh Amendment to Lease dated 10/31/08	 	 	 	 	 	 
	 

	 	 	 	 	 	11. Eighth Amendment to Lease dated 09/25/09	 	 	 	 	 	 
	 

	 	 	 	 	 	12. Unconditional Guaranty of Lease dated 7/24/98	 	 	 	 	 	 

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Real Property Asset	 	 	 	 	 	 	 	Facility Operating Lease	 	 
	Site No.	 	Address	 	Borrower/Owner1	 	Facility Operating Leases	 	Eligible Tenant2	 	Termination Date	 	Ground Leases
	149

	 	1745 Pike Ave, Richland, WA
	 	Richland Washington, L.L.C.
	 	1. Lease dated 5/1/04
	 	Eagle Healthcare, Inc.
	 	11/30/2024
	 	N/A
	 

	 	 	 	 	 	2. Letter Exercising Both Options to Extend dated 5/12/04	 	 	 	 	 	 
	 

	 	 	 	 	 	3. First Amendment dated 11/1/04	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Second Amendment dated 10/31/05	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Third Amendment to Lease dated 10/31/08	 	 	 	 	 	 
	 

	 	 	 	 	 	6. Fourth Amendment to Lease Agreement dated 9/25/09	 	 	 	 	 	 
	 

	 	 	 	 	 	7. Unconditional Guaranty of Lease dated 5/1/04	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	150

	 	1745 Pike Ave, Richland, WA
	 	Richland Washington, L.L.C.
	 	See Site 149
	 	See Site 149
	 	See Site 149
	 	N/A
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	151

	 	640 NE Everett St, Camas, WA
	 	Camas Associates, L.L.C.*
	 	1. Lease dated 12/30/98
	 	Eagle Healthcare, Inc.
	 	12/31/2020
	 	N/A
	 

	 	 	 	 	 	2. First Amendment dated 8/10/00	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Second Amendment dated 6/1/01	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Third Amendment dated 10/31/05	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Fourth Amendment to Lease dated 1/1/06	 	 	 	 	 	 
	 

	 	 	 	 	 	6. Improvement Agreement dated 12/6/07	 	 	 	 	 	 
	 

	 	 	 	 	 	7. Fifth Amendment to Lease dated 10/31/08	 	 	 	 	 	 
	 

	 	 	 	 	 	8. Sixth Amendment to Lease dated 9/25/09	 	 	 	 	 	 
	 

	 	 	 	 	 	9. Unconditional Guaranty of Lease dated 12/30/09	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	152

	 	3517 11th Street, Bremerton, WA
	 	California Aviv, L.L.C.
	 	1. Master Lease dated 7/22/08
	 	AB12 Master Tenant, L.L.C.
	 	8/31/2018
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Master Lease dated 4/21/09	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Side Letter to Master Lease dated 6/11/09	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Letter Agreement to Master Lease dated 4/29/2010	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Second Amendment to Master Lease dated 4/29/2010	 	 	 	 	 	 
	 

	 	 	 	 	 	6. Unconditional Guaranty of Lease dated 7/22/08	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	153

	 	1036 E Victoria Ave, Burlington, WA
	 	Burton NH Property, L.L.C.
	 	1. Lease dated 10/12/99
	 	Eagle Healthcare, Inc.
	 	12/31/2020
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Lease dated 8/10/00	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Letter of Amendment dated 8/10/00	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Assignment of Lease dated 3/18/04	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Second Amendment to Lease dated 12/31/05	 	 	 	 	 	 
	 

	 	 	 	 	 	6. Third Amendment to Lease dated 1/1/06	 	 	 	 	 	 
	 

	 	 	 	 	 	7. Fourth Amendment to Lease dated 9/25/09	 	 	 	 	 	 
	 

	 	 	 	 	 	8. Unconditional Guaranty of Lease dated 10/12/99	 	 	 	 	 	 

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Real Property Asset	 	 	 	 	 	 	 	Facility Operating Lease	 	 
	Site No.	 	Address	 	Borrower/Owner1	 	Facility Operating Leases	 	Eligible Tenant2	 	Termination Date	 	Ground Leases
	154

	 	911 21st St, Anacortes, WA
	 	San Juan NH Property, L.L.C.
	 	1. Lease dated 3/23/04
	 	JK & L, Inc. (f/k/a Hope Care, Inc.)
	 	3/31/2029
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Lease dated 12/31/05	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Second Amendment to Lease dated 3/1/07	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Third Amendment to Lease dated 4/8/09	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Unconditional Guaranty of Lease dated 3/23/04	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	155

	 	155 Alder Street, Cathlamet, WA
	 	Columbia View Associates, L.L.C.
	 	1. Lease dated 8/8/02
	 	Eagle Healthcare, Inc.
	 	12/31/2020
	 	N/A
	 

	 	 	 	 	 	2. First Amendment dated 9/25/02	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Second Amendment dated 6/30/02	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Second Amendment dated 10/31/05	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Third Amendment dated 1/1/06	 	 	 	 	 	 
	 

	 	 	 	 	 	6. Fourth Amendment to Lease dated 9/25/09	 	 	 	 	 	 
	 

	 	 	 	 	 	7. Unconditional Guaranty of Lease dated 8/1/02	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	156

	 	1530 James St, Bellingham, WA
	 	Bellingham II Associates, L.L.C.
	 	1. Lease dated 3/23/04
	 	JK & L, Inc. (f/k/a Hope Care, Inc.)
	 	3/31/2029
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Lease dated 12/31/05	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Second Amendment to Lease dated 3/1/07	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Third Amendment to Lease dated 4/8/09	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Unconditional Guaranty of Lease dated 3/23/04	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	157

	 	1150 W Fairview Rd., Colfax, WA (Fairview a/k/a Almota)
	 	Washington-Oregon Associates, L.L.C.
	 	1. Lease dated 2/11/98
	 	Evergreen Washington Healthcare Whitman, LLC
	 	2/28/2015
	 	N/A
	 

	 	 
	 	 	 	2. Assignment dated 2/11/98	 	 	 	 	 	 
	 

	 	 	 	 	 	3. First Amendment dated 12/17/03	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Second Amendment to Lease dated 10/25/06	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Third Amendment to Lease dated 11/15/07	 	 	 	 	 	 
	 

	 	 	 	 	 	6. Fourth Amendment to Lease dated 8/1/08	 	 	 	 	 	 
	 

	 	 	 	 	 	7. Fifth Amendment to Lease dated 4/30/09	 	 	 	 	 	 
	 

	 	 	 	 	 	8. Sixth Amendment to Lease dated 7/15/09	 	 	 	 	 	 
	 

	 	 	 	 	 	9. Unconditional Guaranty of Lease dated 2/11/98	 	 	 	 	 	 
	 

	 	 	 	 	 	10. Unconditional Guaranty of Lease dated 2/11/98	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	158

	 	912 Hillcrest Ave, Grandview, WA
	 	KB Northwest Associates L.L.C.
	 	1. Lease dated 12/10/92
	 	Eagle Healthcare, Inc.
	 	12/31/2020
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Lease dated 12/30/98	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Letter dated 12/30/98	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Second Amendment to Lease dated 8/10/00	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Third Amendment to Lease dated 10/31/05	 	 	 	 	 	 
	 

	 	 	 	 	 	6. Fourth Amendment to Lease dated 1/1/06	 	 	 	 	 	 
	 

	 	 	 	 	 	7. Fifth Amendment to Lease dated 10/1/06	 	 	 	 	 	 
	 

	 	 	 	 	 	8. Sixth Amendment to Lease dated 9/25/09	 	 	 	 	 	 
	 

	 	 	 	 	 	9. Unconditional Guaranty of Lease dated 1992	 	 	 	 	 	 

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Real Property Asset	 	 	 	 	 	 	 	Facility Operating Lease	 	 
	Site No.	 	Address	 	Borrower/Owner1	 	Facility Operating Leases	 	Eligible Tenant2	 	Termination Date	 	Ground Leases
	159

	 	721 Otis Ave, Sunnyside, WA
	 	KB Northwest Associates L.L.C.
	 	1. Lease dated 12/10/92
	 	Eagle Healthcare, Inc.
	 	12/31/2020
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Lease dated 12/30/98	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Letter dated 12/30/98	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Second Amendment to Lease dated 8/10/00	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Third Amendment to Lease dated 10/31/05	 	 	 	 	 	 
	 

	 	 	 	 	 	6. Fourth Amendment to Lease dated 1/1/06	 	 	 	 	 	 
	 

	 	 	 	 	 	7. Fifth Amendment to Lease dated 10/1/06	 	 	 	 	 	 
	 

	 	 	 	 	 	8. Sixth Amendment to Lease dated 9/25/09	 	 	 	 	 	 
	 

	 	 	 	 	 	9. Unconditional Guaranty of Lease dated 1992	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	160

	 	825 Western Ave, Columbus, WI
	 	Columbus Western Avenue, L.L.C.
	 	1. Sublease dated 8/7/03
	 	Heyde Health Systems Columbus, LLC
	 	7/31/2011
	 	N/A
	 

	 	 	 	 	 	2. Letter Agreement dated 8/7/03	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Assignment and Assumption of Sublease and Guaranty dated 12/22/04	 	 	 	 	 	 
	 

	 	 	 	 	 	4. First Amendment to Sublease dated 9/27/06	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Unconditional Guaranty of SubLease dated 8/7/03	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	161

	 	110 Belmont Rd, Madison, WI
	 	Colonial Madison Associates, L.L.C.
	 	1. Lease dated 7/1/04
	 	LSS of Madison, LLC
	 	6/30/2014
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Lease dated 10/1/04	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Second Amendment to Lease dated 5/1/04	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Third Amendment to Lease dated 3/7/06	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Fourth Amendment to Lease dated 10/1/07	 	 	 	 	 	 
	 

	 	 	 	 	 	6. Fifth Amendment to Lease dated 1/17/08	 	 	 	 	 	 
	 

	 	 	 	 	 	7. Sixth Amendment to Lease dated 8/24/2009	 	 	 	 	 	 
	 

	 	 	 	 	 	8. Unconditional Guaranty of Lease dated 7/1/04	 	 	 	 	 	 
	 

	 	 	 	 	 	9. Unconditional Guaranty of Lease dated 7/1/04	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	162

	 	1110 Second St, Pepin, WI
	 	Chippewa Valley, L.L.C.
	 	1. Lease dated 10/30/01
	 	Heyde Health Systems-Pepin, LLC
	 	12/31/2012
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Lease dated 1/31/02	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Second Amendment to Lease dated 2/27/02	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Third Amendment to Lease dated 3/21/02	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Fourth Amendment to Lease dated 4/26/02	 	 	 	 	 	 
	 

	 	 	 	 	 	6. Assignment and Assumption of Lease dated 6/1/02	 	 	 	 	 	 
	 

	 	 	 	 	 	7. Fifth Amendment to Lease dated 1/1/03	 	 	 	 	 	 
	 

	 	 	 	 	 	8. Sixth Amendment to Lease dated 4/14/06	 	 	 	 	 	 
	 

	 	 	 	 	 	9. Unconditional Guaranty of Lease dated 10/30/01	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	163

	 	1805 27th Street, Zion, IL
	 	Xion, L.L.C.
	 	1. Lease dated 1/12/2009
	 	Helia Healthcare of Zion, LLC
	 	1/31/2019
	 	N/A
	 

	 	 	 	 	 	2. Side Letter dated 1/12/2009	 	 	 	 	 	 
	 

	 	 	 	 	 	3. First Amendment to Lease dated 7/23/2009	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Unconditional Guaranty of Lease dated 1/12/09	 	 	 	 	 	 

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Real Property Asset	 	 	 	 	 	 	 	Facility Operating Lease	 	 
	Site No.	 	Address	 	Borrower/Owner1	 	Facility Operating Leases	 	Eligible Tenant2	 	Termination Date	 	Ground Leases
	164

	 	5720 West Markham, Little Rock, AR
	 	Little Rock Aviv, L.L.C.
	 	1. Lease dated 12/5/08
	 	Southpoint Health, LLC
	 	12/31/2018
	 	N/A
	 

	 	 	 	 	 	2. First Amendment to Lease dated 1/5/09	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Letter Agreement dated 10/05/09	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Second Amendment to Lease dated 11/18/09	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Third Amendment to Lease dated 8/16/2010	 	 	 	 	 	 
	 

	 	 	 	 	 	6. Unconditional Guaranty of Lease dated 12/5/08	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	165

	 	220 8th Street, Moody, TX
	 	October Associates, L.L.C.
	 	1. Lease dated 10/1/02
	 	Hometown Care Center, LLC
	 	9/30/2010
	 	N/A
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	166

	 	170 Oak Grove Ave., Fall River, MA
	 	Massachusetts Nursing Homes, L.L.C.
	 	1. Lease dated 12/6/93
	 	SunBridge Healthcare Corporation
	 	12/31/2016
	 	N/A
	 

	 	 	 	 	 	2. First Amendment dated 12/6/93	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Agreement with Respect to and Second Amendment to Lease dated 9/1/95	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Third Amendment to Lease 9/1/95	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Fourth Amendment to Lease dated 2/15/96	 	 	 	 	 	 
	 

	 	 	 	 	 	6. Fifth Amendment to Lease dated 6/20/00	 	 	 	 	 	 
	 

	 	 	 	 	 	7. Sixth Amendment to Lease dated 6/30/02	 	 	 	 	 	 
	 

	 	 	 	 	 	8. Seventh Amendment to Lease dated 9/30/03	 	 	 	 	 	 
	 

	 	 	 	 	 	9. Eighth Amendment to Lease dated 1/1/06	 	 	 	 	 	 
	 

	 	 	 	 	 	10. Ninth Amendment to Lease dated 10/1/07	 	 	 	 	 	 
	 

	 	 	 	 	 	11. Tenth Amendment to Lease dated 8/12/2009	 	 	 	 	 	 
	 

	 	 	 	 	 	12. Eleventh Amendment to Lease dated 10/08/2009	 	 	 	 	 	 
	 

	 	 	 	 	 	13. Guaranty of Lease dated 12/6/93	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	167

	 	205 Elm St, Quincy, MA
	 	Massachusetts Nursing Homes, L.L.C.
	 	1. Lease dated 12/6/93
	 	SunBridge Healthcare Corporation
	 	12/31/2016
	 	N/A
	 

	 	 	 	 	 	2. First Amendment dated 12/6/93	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Agreement with Respect to and Second Amendment to Lease dated 9/1/95	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Third Amendment to Lease 9/1/95	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Fourth Amendment to Lease dated 2/15/96	 	 	 	 	 	 
	 

	 	 	 	 	 	6. Fifth Amendment to Lease dated 6/20/00	 	 	 	 	 	 
	 

	 	 	 	 	 	7. Sixth Amendment to Lease dated 6/30/02	 	 	 	 	 	 
	 

	 	 	 	 	 	8. Seventh Amendment to Lease dated 9/30/03	 	 	 	 	 	 
	 

	 	 	 	 	 	9. Eighth Amendment to Lease dated 1/1/06	 	 	 	 	 	 
	 

	 	 	 	 	 	10. Ninth Amendment to Lease dated 10/1/07	 	 	 	 	 	 
	 

	 	 	 	 	 	11. Tenth Amendment to Lease dated 8/12/2009	 	 	 	 	 	 
	 

	 	 	 	 	 	12. Eleventh Amendment to Lease dated 10/08/2009	 	 	 	 	 	 
	 

	 	 	 	 	 	13. Guaranty of Lease dated 12/6/93	 	 	 	 	 	 

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Real Property Asset	 	 	 	 	 	 	 	Facility Operating Lease	 	 
	Site No.	 	Address	 	Borrower/Owner1	 	Facility Operating Leases	 	Eligible Tenant2	 	Termination Date	 	Ground Leases
	168

	 	55 Lowell St, Lawrence, MA
	 	Massachusetts Nursing Homes, L.L.C.
	 	1. Lease dated 12/6/93
	 	SunBridge Healthcare Corporation
	 	12/31/2016
	 	N/A
	 

	 	 	 	 	 	2. First Amendment dated 12/6/93	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Agreement with Respect to and Second Amendment to Lease dated 9/1/95	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Third Amendment to Lease 9/1/95	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Fourth Amendment to Lease dated 2/15/96	 	 	 	 	 	 
	 

	 	 	 	 	 	6. Fifth Amendment to Lease dated 6/20/00	 	 	 	 	 	 
	 

	 	 	 	 	 	7. Sixth Amendment to Lease dated 6/30/02	 	 	 	 	 	 
	 

	 	 	 	 	 	8. Seventh Amendment to Lease dated 9/30/03	 	 	 	 	 	 
	 

	 	 	 	 	 	9. Eighth Amendment to Lease dated 1/1/06	 	 	 	 	 	 
	 

	 	 	 	 	 	10. Ninth Amendment to Lease dated 10/1/07	 	 	 	 	 	 
	 

	 	 	 	 	 	11. Tenth Amendment to Lease dated 8/12/2009	 	 	 	 	 	 
	 

	 	 	 	 	 	12. Eleventh Amendment to Lease dated 10/08/2009	 	 	 	 	 	 
	 

	 	 	 	 	 	13. Guaranty of Lease dated 12/6/93	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	169

	 	835 Main St, Worcester, MA
	 	Massachusetts Nursing Homes, L.L.C.
	 	1. Lease dated 12/6/93
	 	SunBridge Healthcare Corporation
	 	12/31/2016
	 	N/A
	 

	 	 	 	 	 	2. First Amendment dated 12/6/93	 	 	 	 	 	 
	 

	 	 	 	 	 	3. Agreement with Respect to and Second Amendment to Lease dated 9/1/95	 	 	 	 	 	 
	 

	 	 	 	 	 	4. Third Amendment to Lease 9/1/95	 	 	 	 	 	 
	 

	 	 	 	 	 	5. Fourth Amendment to Lease dated 2/15/96	 	 	 	 	 	 
	 

	 	 	 	 	 	6. Fifth Amendment to Lease dated 6/20/00	 	 	 	 	 	 
	 

	 	 	 	 	 	7. Sixth Amendment to Lease dated 6/30/02	 	 	 	 	 	 
	 

	 	 	 	 	 	8. Seventh Amendment to Lease dated 9/30/03	 	 	 	 	 	 
	 

	 	 	 	 	 	9. Eighth Amendment to Lease dated 1/1/06	 	 	 	 	 	 
	 

	 	 	 	 	 	10. Ninth Amendment to Lease dated 10/1/07	 	 	 	 	 	 
	 

	 	 	 	 	 	11. Tenth Amendment to Lease dated 8/12/2009	 	 	 	 	 	 
	 

	 	 	 	 	 	12. Eleventh Amendment to Lease dated 10/08/2009	 	 	 	 	 	 
	 

	 	 	 	 	 	13. Guaranty of Lease dated 12/6/93	 	 	 	 	 	 

 

 

SCHEDULE 5.12

PART II — DELINQUENT TENANTS

	1.	 	A Bankruptcy Event has occurred with respect to Trinity Oakland, Inc., one of three tenants
pursuant to the Facility Operating Leases for each of Sites 18 and 19.
	 
	2.	 	A Bankruptcy Event has occurred with respect to Ambler Senior Services, LLC, Chateau Senior
Services, LLC, Julia Ribaudo Senior Services, LLC and Winthrop House Senior Service, LLC, each
a Pennsylvania limited liability company, the tenants pursuant to the Facility Operating
Leases for each of Sites 56, 107, 108, 109
	 
	3.	 	The tenant pursuant to the Facility Operating Lease for Site 89 may be delinquent in the
payment of certain taxes payable to the New Mexico Department of Taxation and Revenue in the
following amounts:

	 	a.	 	$40,771.24 (as evidenced by tax lien number 344736);
	 
	 	b.	 	$26,219.61 (as evidenced by tax lien number 345509); and
	 
	 	c.	 	$49,543.25 (as evidenced by tax lien number 348857).

	4.	 	The tenant pursuant to the Facility Operating Lease for Site 89 may be delinquent in the
payment of certain personal property taxes for the year 2008 in the amount of $1,040.77.
	 
	5.	 	Delinquent payments outstanding:

	 	a.	 	Site 50: Escrow — June, July & August 2010: $9,572.64.
	 
	 	b.	 	Site 69: Escrow — June & July 2010: $7,348.64
	 
	 	c.	 	Site 77: Rent — June & July 2010: $262,987;
	 
	 	d.	 	Site 77: Escrow — June & July 2010: $2,550.96;
	 
	 	e.	 	Site 98: Escrow — May, June & July 2010: $25,171.56;
	 
	 	f.	 	Site 99: Rent — May, June & July 2010: $9,078;
	 
	 	g.	 	Site 99: Escrow — May, June & July 2010: $3,651.09; and
	 
	 	h.	 	Site 83: Security Deposit: $50,000.00.

 

 

     

SCHEDULE 5.12

PART III — MATERIAL SUB-LEASES

	 	 	 	 	 	 	 	 	 	 	 	 	 
	Site	 	Real Property Asset	 	 	 	 	 	 	 	Sublease	 	Subtenant’s Rental
	No.	 	Address	 	Borrower/Owner	 	Sublease	 	Subtenant	 	Termination Date	 	Payment Status
	13

	 	215 W Brown Dr, Mesa, AZ
	 	Sun-Mesa Properties, L.L.C.
	 	1. Consent to Sublease Agreement dated
5/1/08

2. Sublease dated 5/1/08
	 	Pinnacle Health Facilities XXVI,

LP, a Texas limited partnership
	 	12/31/2013, with
two (2) five-year
renewal options
	 	Unknown
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	15

	 	255 W Brown Dr, Mesa, AZ
	 	Sun-Mesa Properties, L.L.C.
	 	1. Consent to Sublease Agreement dated
5/1/08

2. Sublease dated 5/1/08
	 	Pinnacle Health Facilities XXVI,

LP, a Texas limited partnership
	 	12/31/2013, with
two (2) five-year
renewal options
	 	Unknown
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	16

	 	15810 S. 42nd St., Phoenix,
AZ
	 	Aviv Foothills, L.L.C.
	 	1. Consent to Sublease Agreement with
Pinnacle Health Facilities XXV, L.P. dated
3/29/08

2. Sublease dated 3/29/08
	 	Pinnacle Health Facilities XXV,

LP, a Texas limited partnership
	 	11/30/2013, with
two (2) five-year
renewal options
	 	Unknown
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	17

	 	9940 W Union Hills Dr, Sun City, AZ
	 	Sun-Mesa Properties, L.L.C.
	 	1. Consent to Sublease Agreement dated
5/1/08

2. Sublease dated 5/1/08
	 	Pinnacle Health Facilities XXVI,

LP, a Texas limited partnership
	 	12/31/2013, with
two (2) five-year
renewal options
	 	Unknown
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	18

	 	309 MacArthur Blvd, Oakland, CA
	 	Oakland Nursing Homes, L.L.C.
	 	1. Consent to Sublease dated 8/1/08

2. Sublease Agreement dated 8/1/08

3. Sublease Guaranty dated 8/1/08
	 	LTP Generations, LLC, a

California limited liability company

LTP Heritage, LLC, a California

limited liability company
	 	7/31/14
	 	Unknown
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	19

	 	3145 High Street, Oakland,

CA
	 	Oakland Nursing Homes, L.L.C.
	 	1. Consent to Sublease dated 8/1/08

2. Sublease Agreement dated 8/1/08

3. Sublease Guaranty dated 8/1/08
	 	LTP Generations, LLC, a

California limited liability company

LTP Heritage, LLC, a California

limited liability company
	 	7/31/14
	 	Unknown
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	71

	 	410 W. Benton, Monett, MO
	 	Missouri Regency Associates,
L.L.C.
	 	1. Consent to Sublease, Attornment and
Unconditional Guaranty of Master Lease dated
8/9/2010

2. Sublease dated 7/1/2010
	 	Benchmark Healthcare of Monett,
L.L.C., a Missouri limited liability
company
	 	6/30/2020
	 	Unknown
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	72

	 	307 E South St,

Harrisonville, MO
	 	Missouri Regency Associates,
L.L.C.
	 	1. Consent to Sublease, Attornment and
Unconditional Guaranty of Master Lease dated
8/9/2010

2. Sublease dated 7/1/2010
	 	Harrisonville Healthcare, L.L.C., a
Missouri limited liability company
	 	6/30/2020
	 	Unknown
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	73

	 	2203 East Mechanic,

Harrisonville, MO
	 	Missouri Regency Associates,
L.L.C.
	 	1. Consent to Sublease, Attornment and
Unconditional Guaranty of Master Lease dated
8/9/2010

2. Sublease dated 7/1/2010
	 	Benchmark Healthcare of
Harrisonville, L.L.C., a Missouri
limited liability company
	 	6/30/2020
	 	Unknown
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	74

	 	6124 Raytown Rd, Raytown,
MO
	 	Missouri Regency Associates,
L.L.C.
	 	1. Consent to Sublease, Attornment and
Unconditional Guaranty of Master Lease dated
8/9/2010

2. Sublease dated 7/1/2010
	 	Benchmark Healthcare of
Raytown, L.L.C., a Missouri
limited liability company
	 	6/30/2020
	 	Unknown

 

 

     

	 	 	 	 	 	 	 	 	 	 	 	 	 
	Site	 	Real Property Asset	 	 	 	 	 	 	 	Sublease	 	Subtenant’s Rental
	No.	 	Address	 	Borrower/Owner	 	Sublease	 	Subtenant	 	Termination Date	 	Payment Status
	75

	 	1501 Southwest Third St,
Lee’s Summit, MO
	 	Missouri Regency Associates, L.L.C.
	 	1. Consent to Sublease, Attornment and
 Unconditional Guaranty of Master Lease dated
 8/9/2010

2. Sublease dated 7/1/2010
	 	Benchmark Healthcare of Lee’s
Summit,
L.L.C., a Missouri limited
liability company
	 	6/30/2020	 	Unknown 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	98

	 	32900 Detroit Rd, Avon, OH
	 	Avon Ohio, L.L.C.

	 	1. Consent to Sublease Agreement
dated 3/19/08

2. Sublease dated 3/19/08

3. Commencement Date Memorandum dated 6/17/08
	 	Community Health Partners
Regional Medical Center, an Ohio
 non-profit corporation
	 	April 1, 2013, with
one 

(1) five-year renewal option	 	Unknown 

 

 

SCHEDULE 5.13

MATERIAL CONTRACTS; CONTRACTS

None.

 

 

SCHEDULE 5.20

HEALTHCARE DISCLOSURES

None.

 

 

SCHEDULE 5.23

PATRIOT ACT INFORMATION

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Credit Party’s Legal	 	State of	 	Chief Executive	 	Principle Place of	 	Licensed to do	 	 	 	 
	Name	 	Formation	 	Office	 	Business	 	Business in	 	Tax ID	 	Organizational ID
	Aviv Financing I, L.L.C.

	 	DE
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	IL/MA
	 	11-3747125
	 	 	3926720	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Alamogordo Aviv, L.L.C.

	 	NM
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	State of
formation only
	 	27-0123540
	 	 	2581791	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Arkansas Aviv, L.L.C.

	 	DE
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	AR
	 	30-0509615
	 	 	4611152	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Aviv Foothills, L.L.C.

	 	DE
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	AZ
	 	36-4572035
	 	 	3943989	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Aviv Liberty, L.L.C.

	 	DE
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	TX
	 	36-4572034
	 	 	3943940	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Avon Ohio, L.L.C.

	 	DE
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	OH
	 	36-4601433
	 	 	4290056	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Belleville Illinois, L.L.C.

	 	DE
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	IL
	 	32-0188341
	 	 	4256243	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Bellingham II
Associates, L.L.C.

	 	DE
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	WA
	 	11-3747130
	 	 	3943970	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Benton Harbor, L.L.C.

	 	IL
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	MI
	 	36-4204807
	 	 	153133	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	BHG Aviv, L.L.C.

	 	DE
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	MA/PA
	 	36-4601432
	 	 	4290060	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Bonham Texas, L.L.C.

	 	DE
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	TX
	 	30-0358809
	 	 	4144006	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Burton NH Property,
L.L.C.

	 	DE
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	WA
	 	11-3714506
	 	 	3773960	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	California Aviv Two,
L.L.C.

	 	DE
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	CA/NV
	 	26-4117080
	 	 	4648458	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	California Aviv, L.L.C.

	 	DE
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	CA/WA/OR
	 	38-3786697
	 	 	4559434	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Camas Associates,
L.L.C.

	 	DE
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	WA
	 	36-4340182
	 	 	3142846	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Casa/Sierra California
Associates, L.L.C.

	 	DE
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	CA
	 	36-4572017
	 	 	3943975	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Chenal Arkansas,
L.L.C.

	 	DE
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	AR
	 	04-3835270
	 	 	4072263	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Chippewa Valley, L.L.C.

	 	IL
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	MI/WI
	 	36-4065826
	 	 	59226	 

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Credit Party’s Legal	 	State of	 	Chief Executive	 	Principle Place of	 	Licensed to do	 	 	 	 
	Name	 	Formation	 	Office	 	Business	 	Business in	 	Tax ID	 	Organizational ID
	Clarkston Care, L.L.C.

	 	DE
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	WA
	 	76-0802028
	 	 	4058025	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Clayton Associates,
L.L.C.

	 	NM
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	State of
formation only
	 	36-4572014
	 	 	2566586	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Colonial Madison
Associates, L.L.C.

	 	DE
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	WI
	 	38-3741678
	 	 	4263795	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Columbia View
Associates, L.L.C.

	 	DE
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	WA
	 	36-4204809
	 	 	3943978	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Columbus Texas Aviv,
L.L.C.

	 	DE
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	TX
	 	38-3735473
	 	 	4144014	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Columbus Western
Avenue, L.L.C.

	 	DE
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	WI
	 	71-0960205
	 	 	3759584	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Commerce Nursing
Homes, L.L.C.

	 	IL
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	TX
	 	36-4122632
	 	 	98299	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	CR Aviv, L.L.C.

	 	DE
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	IL/MO
	 	20-5354773
	 	 	4202917	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Denison Texas, L.L.C.

	 	DE
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	TX
	 	32-0173170
	 	 	4144007	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Effingham Associates,
L.L.C.

	 	IL
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	State of
formation only
	 	36-4150491
	 	 	113816	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Elite Mattoon, L.L.C.

	 	DE
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	IL
	 	36-4454111
	 	 	3412412	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Elite Yorkville, L.L.C.

	 	DE
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	IL
	 	36-4454114
	 	 	3412408	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Falfurrias Texas, L.L.C.

	 	DE
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	TX
	 	61-1501714
	 	 	4144005	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Florence Heights
Associates, L.L.C.

	 	DE
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	NE
	 	11-3747131
	 	 	3943981	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Fountain Associates,
L.L.C.

	 	DE
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	AZ
	 	36-4572016
	 	 	3943983	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Four Fountains Aviv,
L.L.C.

	 	DE
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	IL
	 	36-4601434
	 	 	4290076	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Freewater Oregon,
L.L.C.

	 	DE
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	OR
	 	36-2280966
	 	 	4230116	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Fullerton California,
L.L.C.

	 	DE
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	CA
	 	36-4480527
	 	 	3456727	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Giltex Care, L.L.C.

	 	DE
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	TX
	 	36-4572036
	 	 	3943992	 

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Credit Party’s Legal	 	State of	 	Chief Executive	 	Principle Place of	 	Licensed to do	 	 	 	 
	Name	 	Formation	 	Office	 	Business	 	Business in	 	Tax ID	 	Organizational ID
	Heritage Monterey
Associates, L.L.C.

	 	IL
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	CA
	 	36-4056688
	 	 	43958	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	HHM Aviv, L.L.C.

	 	DE
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	TX
	 	32-0205746
	 	 	4364581	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Highland Leasehold,
L.L.C.

	 	DE
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	IL
	 	20-2873499
	 	 	3963799	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Hobbs Associates,
L.L.C.

	 	IL
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	NM
	 	36-4177337
	 	 	131466	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Hot Springs Aviv, L.L.C.

	 	DE
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	AR
	 	30-0470700
	 	 	4517015	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Houston Texas Aviv,
L.L.C.

	 	DE
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	TX
	 	36-4587739
	 	 	4144011	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Hutchinson Kansas,
L.L.C.

	 	DE
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	KS
	 	51-0559326
	 	 	4060902	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Idaho Associates,
L.L.C.

	 	IL
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	ID
	 	36-4114446
	 	 	0009140-5	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Karan Associates Two,
L.L.C.

	 	DE
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	TX
	 	61-1514965
	 	 	4263797	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Karan Associates,
L.L.C.

	 	DE
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	TX
	 	11-3747208
	 	 	3943986	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	KB Northwest
Associates, L.L.C.

	 	DE
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	WA
	 	36-4572025
	 	 	3943937	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Kingsville Texas, L.L.C.

	 	DE
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	TX
	 	37-1522939
	 	 	4144004	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Little Rock Aviv, L.L.C.

	 	DE
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	AR
	 	32-0267203
	 	 	4624647	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Manor Associates,
L.L.C.

	 	DE
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	TX
	 	36-4572020
	 	 	3945540	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Mansfield Aviv, L.L.C.

	 	DE
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	OH
	 	32-0183852
	 	 	4231537	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Massachusetts Nursing
Homes, L.L.C.

	 	DE
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	MA
	 	20-2873416
	 	 	3963794	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Minnesota Associates,
L.L.C.

	 	DE
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	MN
	 	36-4469552
	 	 	3432925	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Missouri Associates,
L.L.C.

	 	DE
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	TX
	 	36-4572033
	 	 	3943942	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Missouri Regency
Associates, L.L.C.

	 	DE
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	MO
	 	36-4572031
	 	 	3943944	 

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Credit Party’s Legal	 	State of	 	Chief Executive	 	Principle Place of	 	Licensed to do	 	 	 	 
	Name	 	Formation	 	Office	 	Business	 	Business in	 	Tax ID	 	Organizational ID
	Montana Associates,
L.L.C.

	 	IL
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	MT
	 	36-4149849
	 	 	103411	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Mt. Vernon Texas,
L.L.C.

	 	DE
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	TX
	 	35-2270167
	 	 	4144012	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	N.M. Bloomfield Three
Plus One Limited
Company

	 	NM
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	State of
formation only
	 	74-2748292
	 	 	1712306	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	N.M. Espanola Three
Plus One Limited
Company

	 	NM
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	State of
formation only
	 	74-2748289
	 	 	1712314	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	N.M. Lordsburg Three
Plus One Limited
Company

	 	NM
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	State of
formation only
	 	74-2748286
	 	 	1712322	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	N.M. Silver City Three
Plus One Limited
Company

	 	NM
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	State of
formation only
	 	74-2748283
	 	 	1712330	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Northridge Arkansas,
L.L.C.

	 	DE
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	AR
	 	04-3835262
	 	 	4072213	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Oakland Nursing
Homes, L.L.C.

	 	DE
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	CA
	 	36-4572018
	 	 	3943945	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	October Associates,
L.L.C.

	 	DE
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	TX
	 	36-4572030
	 	 	3943947	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Ogden Associates,
L.L.C.

	 	DE
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	UT
	 	36-4412291
	 	 	3340674	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Ohio Aviv, L.L.C.

	 	DE
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	OH
	 	36-4597043
	 	 	4245492	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Omaha Associates,
L.L.C.

	 	DE
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	NE
	 	36-4572019
	 	 	3943951	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Orange, L.L.C.

	 	IL
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	TX
	 	36-4095365
	 	 	0007656-2	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Oregon Associates,
L.L.C.

	 	DE
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	OR
	 	36-4572024
	 	 	3943955	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Peabody Associates,
L.L.C.

	 	DE
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	KS
	 	36-4572029
	 	 	3943959	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Pomona Vista L.L.C.

	 	IL
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	CA
	 	36-4111095
	 	 	0008832-3	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Prescott Arkansas,
L.L.C.

	 	DE
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	AR
	 	04-3835264
	 	 	4072208	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Raton Property Limited 

Company

	 	NM
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	State of
formation only
	 	36-4111094
	 	 	1825066	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Red Rocks, L.L.C.

	 	IL
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	NM
	 	36-4192351
	 	 	0014930-6	 

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Credit Party’s Legal	 	State of	 	Chief Executive	 	Principle Place of	 	Licensed to do	 	 	 	 
	Name	 	Formation	 	Office	 	Business	 	Business in	 	Tax ID	 	Organizational ID
	Richland Washington,
L.L.C.

	 	DE
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	WA
	 	26-0081509
	 	 	3737882	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Riverside Nursing
Home Associates, L.L.C.

	 	DE
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	CA
	 	36-4340184
	 	 	3143588	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Rose Baldwin Park
Property L.L.C.

	 	IL
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	CA
	 	36-4111092
	 	 	88358	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Salem Associates,
L.L.C.

	 	DE
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	IL
	 	36-4572028
	 	 	3943960	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	San Juan NH Property,
L.L.C.

	 	DE
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	WA
	 	11-3714511
	 	 	3773958	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Santa Ana-Bartlett,
L.L.C.

	 	IL
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	CA
	 	36-4212739
	 	 	167649	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Santa Fe Missouri
Associates, L.L.C.

	 	IL
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	MO
	 	36-4165126
	 	 	0012451-6	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Savoy/Bonham
Venture, L.L.C.

	 	DE
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	TX
	 	36-4572026
	 	 	3943973	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Searcy Aviv, L.L.C.

	 	DE
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	AR
	 	38-3779442
	 	 	4517011	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Skyview Associates,
L.L.C.

	 	DE
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	ID
	 	36-4572023
	 	 	3943997	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Star City Arkansas,
L.L.C.

	 	DE
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	AR
	 	43-2089308
	 	 	4033911	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Sun-Mesa Properties,
L.L.C.

	 	IL
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	AZ
	 	36-4047650
	 	 	0004455-5	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Tujunga, L.L.C.

	 	DE
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	CA
	 	36-4389732
	 	 	3278294	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	VRB Aviv, L.L.C.

	 	DE
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	CA
	 	76-0802032
	 	 	4058022	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Washington-Oregon
Associates, L.L.C.

	 	IL
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	WA/OR
	 	36-4192347
	 	 	0013883-5	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Watauga Associates,
L.L.C.

	 	IL
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	TX
	 	36-4163268
	 	 	119709	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	West Pearl Street,
L.L.C.

	 	DE
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	CA
	 	81-0637081
	 	 	3715852	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Wheeler Healthcare
Associates, L.L.C.

	 	TX
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	State of
formation only
	 	74-2752353
	 	 	7012511-22	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Willis Texas Aviv, L.L.C.

	 	DE
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	TX
	 	37-1522942
	 	 	4144009	 

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Credit Party’s Legal	 	State of	 	Chief Executive	 	Principle Place of	 	Licensed to do	 	 	 	 
	Name	 	Formation	 	Office	 	Business	 	Business in	 	Tax ID	 	Organizational ID
	Woodland Arkansas,
L.L.C.

	 	DE
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	AR
	 	04-3835266
	 	 	4072214	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Xion, L.L.C.

	 	IL
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	State of
formation only
	 	36-4062845
	 	 	57681	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Yuba Aviv, L.L.C.

	 	DE
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	303 West Madison
Street, Suite 2400
Chicago, IL 60606
	 	California
	 	11-3750228
	 	 	3965009	 

 

 

SCHEDULE 7.01

LIENS

1. Any and all Liens on the Unimproved Properties.

2. Other Liens of record not showing as exceptions on the related Mortgage Policy:

	 	 	 	 	 	 	 
	 	 	Address, City,	 	 	 	 
	Site	 	State	 	Owner	 	Lien
	003

	 	505 East Victory, 

Star City, AR
	 	Star City Arkansas, L.L.C.
	 	$1,744,370.28 Mortgage: Mortgage Book 103, page 763 — 10/04/1988 from Beverly Enterprises to Worthen Bank and Trust Company, N.A.
	 

	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	 	 	$484,418.87 Mortgage: Mortgage Book 93, page 162 — 07/20/1982
	 

	 	 	 	 	 	from Star City Convalescent Manor, Inc. to Floyd T. Wilson and Jewell Wilson
and to William S. Wilson and Willie M. Wilson3

	 
	 	 	 	 	 	 
	010

	 	3300 Military Road, 

Benton, AR
	 	Arkansas Aviv, L.L.C.
	 	Nationwide Health Properties, Inc. (Borrower: Rose Care, Inc.)
	 

	 	 	 	 	(i) Mortgage: Mortgage Book 404, page 281 — 12/22/1994
	 

	 	 	 	 	 	(ii) ALR: Misc. Book 168, page 128 — 12/22/1994
	 

	 	 	 	 	 	(iii) UCC (Debtor KMJ Enterprises Benton I, LLC): No. 08-31226 — 04/07/20084
	 
	 	 	 	 	 	 
	018

	 	309 MacArthur Blvd,
Oakland, CA	 	Oakland Nursing Homes, L.L.C.
	 	Alameda County Tax Lien:
	 

	 	 	 	No. 00-198966-00-000-08-00-00 -$462.06  — #2009036534 — 02/02/20095

	 
	 	 	 	 	 	 
	019

	 	3145 High Street, 

Oakland, CA
	 	Oakland Nursing Homes, L.L.C.
	 	Alameda County Tax Lien (same as Site 018):
	 

	 	 	 	No. 00-198966-00-000-08-00-00 -$462.06  — #2009036534 — 02/02/20096

	 
	 	 	 	 	 	 
	046

	 	1115 N Wenthe Ave,
Effingham, IL	 	Effingham Associates, L.L.C.
	 	Bank One financing
	 

	 	 	 	(i) Mortgage: Book 1851, page 295 — 01/31/2003 

(ii) ALR: Book 1851, page 332 — 01/31/2003

(iii) SNDA: Book 1852, page 1 — 01/31/20037

	 
	 	 	 	 	 	 
	066

	 	1385 E Empire Ave, 
Benton Harbor, MI
	 	Benton Harbor, L.L.C.
	 	Bank One financing:
	 

	 	 	 	(i) Mortgage: Liber 2441, page 1377 — 10/21/2003 (Amendment: Liber 25553, page 1056 — 10/13/2004)

	 

	 	 	 	 	 	(ii) Subordination Agreement: Liber 2480, page 4098

	 
	 	 	 	 	 	 
	081

	 	9 14th Ave, Polson, 

MT
	 	Montana Associates, L.L.C.
	 	Montana Trust Indenture: #381548 — 05/02/1997
	 

	 	 	 	Grantor: Montana Associates, L.L.C.

	 

	 	 	 	 	 	Trustee: Lake County Abstract & Title Company

	 

	 	 	 	 	 	Beneficiary: Flathead Convalescent, Inc.

	 
	 	 	 	 	 	 
	 

	 	 	 	 	 	Tri-Party Agreement: #381549 — 05/02/1997
	 

	 	 	 	 	 	Between Bank of Whitman, Flathead Convalescent, Inc. and Montana Associates, L.L.C. 9

 

			
	 3	 	Each of these Liens have been paid off, but they are still reflected as a Liens against the property because no release has been obtained and recorded.
	 
	4	 	This Lien secures financing to a prior owner of the property. This Lien has been paid off, but is still reflected as a Lien against the property because no release was obtained or recorded.
	 
	5	 	The taxes have been paid, but will not be released of record until sometime after closing.
	 
	6	 	The taxes have been paid, but will not be released of record until sometime after closing.
	 
	7	 	This Lien has been paid off, but is still reflected as a Lien against the property because no release has been obtained and recorded.
	 
	8	 	This Lien has been paid off, but is still reflected as a Lien against the property because no release has been obtained and recorded.
	 
	9	 	Each of these Liens have been paid off, but they are still reflected as a Liens against the property because no release has been obtained and recorded.

 

 

	 	 	 	 	 	 	 
	 	 	Address, City,	 	 	 	 
	Site	 	State	 	Owner	 	Lien
	082

	 	600 First Ave N,
	 	Montana Associates,
	 	American National Bank and Trust Co. of Chicago financing
	 

	 	Hot Springs, MT
	 	L.L.C.
	 	(i)
DoT: #23128/229229 — 04/02/1998 Amendments: #42067/251661
—

	 

	 	 	 	 	 	07/21/2003; #45148/255191 — 04/06/2004; #45149/255192 — 04/06/2004

	 

	 	 	 	 	 	(ii) ALR: #23129/229230 — 04/02/1998

	 

	 	 	 	
	 	(iii) SNDA: #23130/229231 — 04/02/199810

	 
	086

	 	3514 Fowler Ave,
	 	FEE: County of Grant, New
	 	NM Tax Liens:
	 

	 	Silver City, NM
	 	Mexico
	 	$38,196.45 Tax Lien No. 755794: Book 271, page 1578

	 

	 	 	 	

LEASEHOLD: N.M. Silver
	 	$41,986.71 Tax Lien No. 1095048: Book 272, page 1096 

Tax Lien No. 1815197: Book 272, page 3271 (copy requested 

09/07/2010)11

	 

	 	 	 	City Three Plus One
	 
	 

	 	 	 	Limited Company
	 
	 
	 	 	 	 	 	 
	087

	 	603 Hadeco Drive,
	 	N.M. Lordsburg Three Plus
	 	Tax Lien: #1365079 — 08/12/2010
	 

	 	Lordsburg, NM
	 	One Limited Company
	 	$64,432.28

	 

	 	 	 	 	 	New Mexico Department of Taxation and Revenue

	 

	 	 	 	 	 	Tax Lien #1125105 — 08/25/2010
	 

	 	 	 	 	 	$13,119.81
	 

	 	 	 	 	 	New Mexico Department of Taxation and Revenue12

	 
	 	 	 	 	 	 
	088

	 	2101 Bensing Rd,
	 	Hobbs Associates L.L.C.
	 	American National Bank and Trust Company of Chicago financing:

	 

	 	Hobbs, NM
	 	 	 	(i) DoT: Book 845, page 345 — 01/02/1998 (Amendments: 1333/172; 1333/190;

	 

	 	 	 	 	 	1333/210; 1333/231)

	 

	 	 	 	 	 	(ii) ALR: Book 845, page 387 — 01/02/1998 (Amendment: 1251/754)13

	 
	 	 	 	 	 	 
	089

	 	3720 Church Rock
	 	Red Rocks, L.L.C.
	 	Tax Lien: #344,736 — 04/20/2009
	 

	 	Rd, Gallup, NM
	 	 	 	$40,771.24

	 

	 	 	 	 	 	New Mexico Department of Taxation and Revenue

	 

	 	 	 	 	 	Debtor: Red Rocks Care Center

	 

	 	 	 	 	 	Tax Lien: #345,509 — 06/22/2009
	 

	 	 	 	 	 	$26,219.61

	 

	 	 	 	 	 	New Mexico Department of Taxation and Revenue

	 

	 	 	 	 	 	Debtor: Red Rocks Care Center

	 

	 	 	 	 	 	Tax Lien: #348,857 — 03/22/2010 —
	 

	 	 	 	 	 	$49,543.25

	 

	 	 	 	 	 	New Mexico Department of Taxation and Revenue
	 

	 	 	 	 	 	Debtor: Red Rocks Nursing Operations, LLC14

	 
	 	 	 	 	 	 
	 

	 	 	 	 	 	2008 Personal Property Taxes are delinquent $1,040.7715
	 
	 	 	 	 	 	 
	093

	 	419 Harding St,
	 	Clayton Associates, L.L.C.
	 	2002 LaSalle Bank financing
	 

	 	Clayton, NM
	 	(per title: Clayton
	 	(i) Mortgage: Book 33, page 327 — 08/13/200216

	 

	 	 	 	Associates Limited
	 	2004 LaSalle Bank financing
	 

	 	 	 	Partnership)
	 	(i) Mortgage: Book 40, page 652 — 04/19/200417

 

			
	10	 	This Lien has been paid off, but is still
reflected as a Lien against the property because no release has been obtained
and recorded.
	 
	11	 	The taxing authority has confirmed that the taxes
that are the subject of each of these Liens have been paid, but as of the date
of closing, the Liens have not yet been released of record.
	 
	12	 	The taxing authority has confirmed that the taxes
that are the subject of each of these Liens have been paid, but as of the date
of closing, the Liens have not yet been released of record.
	 
	13	 	This Lien has been paid off, but is still
reflected as a Lien against the property because no release has been obtained
and recorded.
	 
	14	 	Each of these Liens have been paid off. A release
of the Liens has been provided to title company but will be reflected as a
Liens against the property until such time as said releases are recorded.
	 
	15	 	Not yet a Lien against the property. All personal
property on the site is owned by the operator.
	 
	16	 	This Lien has been paid off, but is still
reflected as a Lien against the property because no release has been obtained
and recorded.
	 
	17	 	This is a First Modification of financing
purportedly in existence at the time, but the document does not reference any
recording info for the mortgage it is modifying.

 

 

	 	 	 	 	 	 	 
	 	 	Address, City,	 	 	 	 
	Site	 	State	 	Owner	 	Lien
	097

	 	4900 Cooper Rd,
	 	Ohio Aviv, L.L.C.
	 	American National Bank and Trust Company of Chicago financing
	 

	 	Cincinnati, OH
	 	 	 	(i) Mortgage: OR 7796, page 1771 — 11/02/1998 (Amendment: OR 10225, page
1857 — 04/24/2006 (JPMorgan chase Bank as successor to American National)

	 

	 	 	 	 	 	(ii) ALR: OR 7796, page 1796 — 11/02/1998

	 

	 	 	 	 	 	(iii) Forbearance and Modification Agreement: OR 9691, page 2508 —

	 

	 	 	 	 	 	08/04/2004

	 

	 	 	 	 	 	between: Blue Ash Property, L.L.C.; Albert Milstein; Blue Ash Nursing and
Rehabilitation Center, L.L.C.; and Bank One, NA (successor to American
National)18

	 
	 	 	 	 	 	 
	121

	 	1241 Westridge Ave,
Lancaster, TX
	 	Karan Associates, L.L.C.
	 	$887.67 State Tax Lien: #200900236467

2008 Franchise Taxes19

	 
	 	 	 	 	 	 
	136

	 	310 E Lawrence St,
	 	Aviv Liberty, L.L.C.
	 	American National Bank financing
	 

	 	Dayton, TX
	 	 	 	(i) DoT: Vol. 1945, page 529

	 

	 	 	 	 	 	(ii) ALR: vol. 1945, page 574

	 

	 	 	 	 	 	(iii) UCC: Vol. 1945, page 596

	 

	 	 	 	 	 	(iv) UCC: Vol. 1945, page 60320

	 
	 	 	 	 	 	 
	143

	 	701 Saint Louis
	 	Aviv Liberty, L.L.C.
	 	American National Bank financing
	 

	 	Ave, Fort Worth, TX
	 	 	 	(i) DoT: Vol. 15440, page 175 — 02/01/200221

	 
	 	 	 	 	 	 
	161

	 	110 Belmont Rd,
	 	Colonial Madison
	 	Bank Leumi USA financing
	 

	 	Madison, WI
	 	Associates, L.L.C.
	 	(i) Mortgage: #4228912 — 08/25/2006

	 

	 	 	 	 	 	(ii) ALR: #4228913 — 08/25/200622

 

			
	18	 	This Lien secures financing to a prior owner of
the property. The recorded release documentation was defective due to the use
of an incorrect notary block. The Lien has been paid off and insured over based
on a hold harmless letter provided by First American Title.
	 
	19	 	A release of this Lien was obtained and filed
with the court. However, such release was not recorded in the real property
records.
	 
	20	 	This Lien has been paid off, but is still
reflected as a Lien against the property because no release has been obtained
and recorded.
	 
	21	 	This Lien has been paid off, but is still
reflected as a Lien against the property because no release has been obtained
and recorded.
	 
	22	 	This Lien has been paid off, but is still
reflected as a Lien against the property because no release has been obtained
and recorded.

 

 

SCHEDULE 7.02

BORROWERS’ INDEBTEDNESS

None.

 

 

SCHEDULE 7.03

INVESTMENTS

	1.	 	Working Capital Loans

	 	a.	 	Promissory Note dated as of March 1, 2009, in the original principal amount of
$750,000 made by Scott W. Robertson and Dorothy F. Robertson in favor of Florence
Heights Associates, L.L.C., and Minnesota Associates, L.L.C., each a Delaware limited
liability company;
	 
	 	b.	 	Promissory Note dated as of March 22, 2010, in the original principal amount of
$3,354,773 made by Ambler Senior Services, LLC, Chateau Senior Services, LLC, Julia
Ribaudo Senior Services, LLC and Winthrop House Senior Service, LLC, Church Lane Senior
Services, each a Pennsylvania limited liability company, in favor of BHG Aviv, L.L.C.
, a Delaware limited liability company;
	 
	 	c.	 	Promissory Note dated as of March 22, 2010, in the original principal amount of
$900,000 made by Ambler Senior Services, LLC, Chateau Senior Services, LLC, Julia
Ribaudo Senior Services, LLC and Winthrop House Senior Service, LLC, Church Lane Senior
Services, each a Pennsylvania limited liability company, in favor of BHG Aviv, L.L.C.
, a Delaware limited liability company;
	 
	 	c.	 	Promissory Note dated as of August 1, 2009, in the original principal amount of
$77,717.82 made by Heyde Health Systems Columbus, L.L.C., a Wisconsin limited liability
company, in favor of Columbus Western Avenue, L.L.C., a Delaware limited liability
company; and
	 
	 	d.	 	Promissory Note dated as of June 21, 2007, in the original principal amount of
$500,000 made by Baird Long Term Care, LLC, a Texas limited liability company, Cisco
Long Term Care, LLC, a Texas limited liability company, Hillsboro Long Term Care, LLC,
a Texas limited liability company, Collinsville Long Term Care, LLC, a Texas limited
liability company, Gorman Long Term Care, LLC, a Texas limited liability company,
Itasca Long Term Care, LLC, a Texas limited liability company, collectively as
borrower, in favor of HHM Aviv, L.L.C., a Delaware limited liability company, as
lender; as amended by that certain First Amendment to Promissory Note and Security
Agreement dated May 7, 2008 by and between such borrowers and lender whereby the
original principal amount was increased to $664,821.19.

	2.	 	Tenant Improvement Loans:

	 	a.	 	Promissory Note dated as of November 5, 2007, in the original principal amount
of $500,000 made by Ashford Hall, Inc., a Texas corporation, in favor of Karan
Associates Two, L.L.C., a Delaware limited liability company; and

 

 

	 	b.	 	Promissory Note dated as of October 21, 2005, in the original principal amount
of $250,000 made by CCG Countryside, LLC, a Michigan limited liability company, in
favor of Chippewa Valley, L.L.C., a Delaware limited liability company.

	3.	 	Capital Stock as more fully set forth on Schedule 5.11 hereto.

 

 

SCHEDULE 9.12

ALLOCATED LOAN VALUE

	 	 	 	 	 
	Site	 	Loan Allocation	 
	1
	 	$	2,757,761	 
	2
	 	$	6,016,937	 
	3
	 	$	1,604,516	 
	4
	 	$	902,540	 
	5
	 	$	651,835	 
	6
	 	$	3,509,880	 
	7
	 	$	1,554,375	 
	8
	 	$	4,362,279	 
	9
	 	$	2,507,057	 
	10
	 	$	1,002,823	 
	11
	 	$	8,874,981	 
	12
	 	$	401,129	 
	13
	 	$	5,665,949	 
	14
	 	$	1,103,105	 
	15
	 	See Site 13
	16
	 	$	4,813,549	 
	17
	 	$	4,412,420	 
	18
	 	$	1,454,093	 
	19
	 	$	952,682	 
	20
	 	$	3,409,597	 
	21
	 	$	7,471,030	 
	22
	 	$	5,365,102	 
	23
	 	$	2,206,210	 
	24
	 	$	2,757,763	 
	25
	 	$	8,624,276	 
	26
	 	$	1,403,952	 
	27
	 	$	1,052,964	 
	28
	 	$	802,258	 
	29
	 	$	3,860,868	 
	30
	 	$	1,554,375	 
	31
	 	$	4,813,549	 
	32
	 	$	3,710,444	 
	33
	 	$	1,303,670	 
	34
	 	$	2,807,904	 
	35
	 	$	11,382,038	 
	36
	 	$	5,866,513	 
	37
	 	$	3,409,597	 
	38
	 	omitted
	39
	 	omitted
	40
	 	$	1,052,964	 
	41
	 	$	1,654,658	 
	42
	 	$	2,757,763	 
	43
	 	$	4,512,702	 
	44
	 	$	651,835	 
	45
	 	$	1,153,246	 
	46
	 	$	4,161,714	 
	47
	 	$	1,554,375	 
	48
	 	$	3,209,033	 
	49
	 	$	5,615,807	 
	50
	 	$	1,704,799	 
	51
	 	$	5,014,114	 
	52
	 	$	4,261,997	 
	53
	 	$	601,694	 
	54
	 	$	3,008,468	 
	55
	 	$	1,153,246	 
	56
	 	$	3,610,162	 
	57
	 	$	551,553	 
	58
	 	$	285,804	 
	59
	 	$	952,682	 
	60
	 	$	902,540	 
	61
	 	$	601,694	 
	62
	 	$	4,863,690	 
	63
	 	$	1,353,811	 
	64
	 	$	902,540	 
	65
	 	$	902,540	 
	66
	 	$	2,657,480	 
	67
	 	$	3,911,009	 
	68
	 	$	401,129	 
	69
	 	$	1,403,952	 
	70
	 	$	1,554,375	 
	71
	 	$	2,707,621	 
	73
	 	$	1,554,375	 
	73
	 	$	1,403,952	 
	74
	 	$	2,958,327	 
	75
	 	$	2,557,198	 
	76
	 	$	2,456,916	 
	77
	 	$	4,713,267	 
	78
	 	$	4,612,985	 
	79
	 	$	3,911,009	 
	80
	 	$	1,654,658	 
	81
	 	$	1,353,811	 
	82
	 	$	1,153,246	 
	83
	 	$	551,553	 
	84
	 	$	7,471,030	 
	85
	 	$	2,456,916	 
	86
	 	$	3,560,021	 
	87
	 	$	701,976	 
	88
	 	$	902,540	 
	89
	 	$	1,955,504	 
	90
	 	$	4,312,138	 
	91
	 	$	3,008,468	 
	92
	 	$	4,713,267	 
	93
	 	$	1,454,093	 
	94
	 	$	6,418,066	 
	95
	 	$	1,403,952	 
	96
	 	$	5,014,114	 
	97
	 	$	1,754,940	 
	98
	 	$	3,309,315	 
	99
	 	$	752,117	 
	100
	 	$	2,406,775	 
	101
	 	$	2,055,787	 
	102
	 	$	1,604,516	 
	103
	 	$	3,911,009	 
	104
	 	$	2,507,057	 
	105
	 	$	551,553	 
	106
	 	$	2,105,928	 
	107
	 	$	2,456,916	 
	108
	 	$	6,819,195	 
	109
	 	$	3,560,021	 
	110
	 	$	2,507,057	 
	111
	 	$	2,807,904	 
	112
	 	$	90,254	 
	113
	 	$	1,052,964	 
	114
	 	$	2,206,210	 
	115
	 	$	601,694	 
	116
	 	$	852,399	 
	117
	 	$	260,734	 
	118
	 	$	7,270,465	 
	119
	 	$	2,306,492	 
	120
	 	$	2,105,928	 
	121
	 	$	3,760,585	 
	122
	 	$	3,911,009	 
	123
	 	$	1,353,811	 
	124
	 	$	1,253,528	 
	125
	 	$	1,303,670	 
	126
	 	$	1,153,246	 
	127
	 	$	110,311	 
	128
	 	$	1,203,387	 
	129
	 	$	2,908,186	 
	130
	 	$	3,058,609	 
	131
	 	$	1,002,823	 
	132
	 	$	2,306,492	 
	133
	 	$	1,353,811	 
	134
	 	$	1,253,528	 
	135
	 	$	3,459,739	 
	136
	 	$	1,554,375	 
	137
	 	$	90,254	 
	138
	 	$	2,256,351	 
	139
	 	$	752,117	 
	140
	 	$	1,403,952	 
	141
	 	$	4,161,714	 
	142
	 	$	3,259,174	 
	143
	 	$	3,810,726	 
	144
	 	$	1,855,222	 
	145
	 	$	1,704,799	 
	146
	 	$	1,754,940	 
	147
	 	$	2,055,787	 
	148
	 	$	3,961,150	 
	149
	 	$	6,217,501	 
	150
	 	See Site 149
	151
	 	$	1,504,234	 
	152
	 	$	601,694	 
	153
	 	$	902,540	 
	154
	 	$	2,858,045	 
	155
	 	$	651,835	 
	156
	 	$	902,540	 
	157
	 	$	3,610,162	 
	158
	 	$	701,976	 
	159
	 	$	1,052,964	 
	160
	 	$	1,253,528	 
	161
	 	$	2,005,646	 
	162
	 	$	1,403,952	 
	163
	 	$	270,762	 
	164
	 	$	902,540	 
	165
	 	$	55,155	 
	TOTAL
	 	$	405,000,000	 
	 
	 	 	 

 

 

SCHEDULE 10.02

NOTICE ADDRESSES

Credit Parties:

c/o Aviv Asset Management, L.L.C.

303 West Madison Street

Suite 2400

Chicago, Illinois 60606

Attention: General Counsel

Telephone: (312) 855-0930

Facsimile: (312) 855-1684

with a copy to:

Sidley Austin, LLP

One South Dearborn Street

Chicago, IL 60603

Attention: Paul D. Monson

Telephone: (312) 853-7000

Facsimile: (312) 853-7036 (recipients name must appear on the facsimile)

Administrative Agent:

General Electric Capital Corporation

Loan No. 07-0004357

500 West Monroe Street

Chicago, Illinois 60661

Attention: Brian Beckwith

                  Jeff Muchmore

Telephone: Mr. Beckwith: (312) 441-7529; Mr. Muchmore: (312) 441-7308

Facsimile: Mr. Beckwith: (866) 207-0498; Mr. Muchmore: (866) 254-1971

with a copy to:

General Electric Capital Corporation

Loan No. 07-0004357

5804 Trailridge Drive

Austin, Texas 78731

Attention: Diana Pennington, Chief Counsel

Telephone: (512) 458-8526

Facsimile: (866) 221-0433

Lenders:

Contact information on file with the Administrative Agent.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00188-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00188-of-00352.parquet"}]]