Document:

EX-10.1

Purchase and Sale Agreement

and

Escrow Instructions

dated March 21, 2011

by and between

G&E HC REIT II Dixie-Lobo MOB Portfolio, LLC,

a Delaware limited liability company (“Buyer”)

and

TMB-Alice, L.P.,

a Delaware limited partnership (“Alice Seller”);

Carlsbad-TMB, LLC,

a Delaware limited liability company (“Carlsbad Seller”);

Hobbs-TMB, LLC,

a Delaware limited liability company (“Hobbs Seller”);

Hope-TMB, LLC,

a Delaware limited liability company (“Hope Seller”);

TMB-Lake Charles, L.P.,

a Delaware limited partnership (“Lake Charles Seller”);

TMB-Lufkin, L.P.,

a Delaware limited partnership (“Lufkin Seller”);

Victoria-TMB, L.P.,

a Delaware limited partnership (“Victoria Seller”); and

TMB-I, L.P.,

a Delaware limited partnership (“Wharton Seller”)

and

First American Title Insurance Company (“Escrow Agent”)

Table of Contents

	 	 	 
	Exhibits	 	 
	EXHIBIT “A-1”

EXHIBIT “A-2”

EXHIBIT “A-3”

EXHIBIT “A-4”

EXHIBIT “A-5”

EXHIBIT “A-6”

EXHIBIT “A-7”

EXHIBIT “A-8”

EXHIBIT “B”

EXHIBIT “C-1”

EXHIBIT “C-2”

EXHIBIT “D”

EXHIBIT “E”

EXHIBIT “F”

EXHIBIT “G”

EXHIBIT “H”

EXHIBIT “I”

EXHIBIT “J”

EXHIBIT “K-1”

EXHIBIT “K-2”

EXHIBIT “L”

EXHIBIT “M”

EXHIBIT “N”

EXHIBIT “O”

EXHIBIT “P”

EXHIBIT “Q”
	 	LEGAL DESCRIPTION — ALICE

LEGAL DESCRIPTION — CARLSBAD

LEGAL DESCRIPTION — HOBBS

LEGAL DESCRIPTION — HOPE

LEGAL DESCRIPTION — LAKE CHARLES

LEGAL DESCRIPTION — LUFKIN

LEGAL DESCRIPTION — VICTORIA

LEGAL DESCRIPTION — WHARTON

PROPERTY INFORMATION

FORM OF SELLER PROPOSED TENANT ESTOPPEL

FORM OF BUYER PROPOSED TENANT ESTOPPEL

FORM OF OWNER’S CERTIFICATION AND GAP INDEMNITY

Intentionally deleted.

FORM OF BILL OF SALE, ASSIGNMENT AND ASSUMPTION OF LEASE AND

CONTRACTS

REPRESENTATION LETTER

AUDIT INQUIRY LETTER

AUDIT RESPONSE LETTER FORM

COMPLETE LIST OF LOAN DOCUMENTS

FORM OF SELLER PROPOSED GROUND LEASE ESTOPPEL

FORM OF BUYER PROPOSED GROUND LEASE ESTOPPEL

FORM OF SPECIAL WARRANTY DEED

FORM OF ASSIGNMENT AND ASSUMPTION OF GROUND LEASE

FORM OF RIGHT OF FIRST REFUSAL WAIVER

FORM OF HOSPITAL CONSENT

FORM OF AMENDMENT TO ATTORNMENT AND NON-DISTURBANCE AGREEMENT

(CITY OF HOBBS)

FORM OF AMENDMENT TO ATTORNMENT AND NON-DISTURBANCE AGREEMENT

(ECONOMIC DEVELOPMENT AUTHORITY)

	Schedules
	 	

	 
	 	

	Schedule 1.1.3

Schedule 1.1.8

Schedule 1.3

Schedule 1.4

Schedule 1.6.2

Schedule 1.6.5

Schedule 4.1.2

Schedule 4.1.11

Schedule 5.8.1
	 	MASTER LEASES

TRADE NAMES

ALLOCATION OF PURCHASE PRICE

ESCROW AGENT’S WIRE INSTRUCTIONS

ALLOCATION OF EXISTING LOAN

ALLOCATION OF REPLACEMENT RESERVES

UNDISCLOSED MATTERS

DEFAULTS UNDER TENANT LEASES

CUSTOMARY PRACTICES FOR PAYMENT OF TITLE PREMIUMS AND

TRANSFER TAXES

Defined Terms

PURCHASE AND SALE AGREEMENT

AND ESCROW INSTRUCTIONS

THIS PURCHASE AND SALE AGREEMENT and ESCROW INSTRUCTIONS (this “Agreement”) is entered
into as of this 21st day of March, 2011 (the “Effective Date”), by and among
TMB-ALICE, L.P., a Delaware limited partnership (“Alice Seller”), CARLSBAD-TMB, LLC, a
Delaware limited liability company (“Carlsbad Seller”), HOBBS-TMB, LLC, a Delaware limited
liability company (“Hobbs Seller”), HOPE-TMB, LLC, a Delaware limited liability company
(“Hope Seller”), TMB-LAKE CHARLES, L.P., a Delaware limited partnership (“Lake Charles
Seller”), TMB-LUFKIN, L.P., a Delaware limited partnership (“Lufkin Seller”),
VICTORIA-TMB, L.P., a Delaware limited partnership (“Victoria Seller”), TMB-I, L.P., a
Delaware limited partnership (“Wharton Seller”); G&E HC REIT II DIXIE-LOBO MOB PORTFOLIO,
LLC, a Delaware limited liability company (“Buyer”); and First American Title Insurance
Company (“Escrow Agent”). Alice Seller, Carlsbad Seller, Hobbs Seller, Hope Seller, Lake
Charles Seller, Lufkin Seller, Victoria Seller, and Wharton Seller are each a “Seller” and
collectively, the “Sellers”.

RECITALS

I. Pursuant to that certain Ground Lease Agreement, dated June 12, 2000, by and between Alice
Seller and Christus Spohn Health System Corporation, a Texas non-profit corporation (“Alice
Hospital”), as successor in interest to Physicians and Surgeons Hospital of Alice, L.P., a
Delaware limited partnership (“Predecessor Alice Hospital”), as amended by that certain
Agreement Regarding Ground Lease and Amendment to Master Lease, by Alice Seller and Alice Hospital
in favor of Existing Lender (as hereinafter defined), dated as of December 29, 2006 (as amended,
the “Alice Ground Lease”), Alice Seller ground leases from Alice Hospital certain real
property located at 2510 & 2520 East Main Street, Alice, Texas (“Alice Parcel”), and
altogether more particularly described on Exhibit “A-1” attached hereto, and Alice Seller
holds certain right, title and interest in, to and under certain other assets as hereinafter
described.

II. Pursuant to that certain Ground Lease Agreement, dated September 24, 2001, by and between
Carlsbad Seller and Carlsbad Medical Center, LLC, a Delaware limited liability company
(“Carlsbad Hospital”), as amended by that certain Agreement Regarding Ground Lease and
Amendment to Master Lease, by Carlsbad Seller and Carlsbad Hospital in favor of Existing Lender,
dated as of December 29, 2006 (as amended, the “Carlsbad Ground Lease”), Carlsbad Seller
ground leases from Carlsbad Hospital certain real property located at 2420 West Pierce Street,
Carlsbad, New Mexico (“Carlsbad Parcel”), and altogether more particularly described on
Exhibit “A-2” attached hereto, and Carlsbad Seller holds certain right, title and interest
in, to and under certain other assets as hereinafter described.

III. Pursuant to that certain Ground Lease Agreement, dated January 15, 2003, by and between
Hobbs Seller and Lea Regional Hospital, LLC (“Hobbs Hospital”), as amended by that certain
Agreement Regarding Ground Lease, dated December 29, 2006, by Hobbs Seller and Hobbs Hospital in
favor of Existing Lender (as amended, the “Hobbs Sub-Sub Ground Lease”), Hobbs Seller
ground leases from Hobbs Hospital certain real property located at 5419 North Lovington Highway,
Hobbs, New Mexico (“Hobbs Parcel”), and altogether more particularly described on
Exhibit “A-3” attached hereto, and Hobbs Seller holds certain right, title and interest in,
to and under certain other assets as hereinafter described. Pursuant to that certain Lease
Agreement, dated May 2, 1983, by and between the City of Hobbs, New Mexico (the “City of
Hobbs”) and the Economic Development Corporation of Lea County (the “Hobbs EDC”), as
amended by that certain Memorandum of Lease dated April 2, 2001, and as further amended by that
Modification of Lease Agreement, by and between City of Hobbs and Hobbs EDC, dated December 2, 2002
(as amended, “Hobbs Ground Lease”), Hobbs EDC leases from the City of Hobbs certain real
property including the Hobbs Parcel (collectively, the “Net Lease Parcel”). Further,
pursuant to that certain Modification, Restatement and Amendment of Sub-Lease, dated August 2002,
by and between Hobbs Hospital and Hobbs EDC (as amended, the “Hobbs Sub Ground Lease”),
Hobbs Hospital ground leases from Hobbs EDC, a portion of the Net Lease Parcel (which portion
includes the Hobbs Parcel). The Hobbs Ground Lease and the Hobbs Sub Ground Lease are together
referred to herein as the “Hobbs Superior Leases”).

IV. Pursuant to that certain Ground Lease Agreement, dated June 27, 2002, by and between Hope
Seller and Signature Medical Park Hospital, LLC, a Delaware limited liability company (“Hope
Hospital”), as successor-in-interest to Medical Park Hospital LLC (“Predecessor Hope
Hospital”), as amended by that certain Consent to Assignment and Modification of Leases, among
Hope Seller, Triad Hospitals, Inc., Hope Hospital, Predecessor Hope Hospital, and Signature
Hospital, LLC, dated as of December 31, 2005, as further amended by that certain Agreement
Regarding Ground Lease and Amendment to Master Lease, by Hope Seller and Hope Hospital in favor of
Existing Lender, dated as of December 29, 2006 (as amended, the “Hope Ground Lease”), Hope
Seller ground leases from Hope Hospital certain real property located at 302 Bill Clinton Drive,
Hope, Arkansas (“Hope Parcel”), and altogether more particularly described on Exhibit
“A-4” attached hereto, and Hope Seller holds certain right, title and interest in, to and under
certain other assets as hereinafter described.

V. Pursuant to that certain Ground Lease Agreement, dated June 23, 2000, by and between Lake
Charles Seller and Women & Children’s Hospital, LLC, a Delaware limited liability company
(“Lake Charles Hospital”), as amended by that certain Agreement Regarding Ground Lease and
Amendment to Master Lease, by Lake Charles Seller and Lake Charles Hospital in favor of Existing
Lender, dated as of December 29, 2006 (as amended, the “Lake Charles Ground Lease”), Lake
Charles Seller ground leases from Lake Charles Hospital certain real property located at 1920 West
Sale Road, Lake Charles, Louisiana (“Lake Charles Parcel”), and altogether more
particularly described on Exhibit “A-5” attached hereto, and Lake Charles Seller holds
certain right, title and interest in, to and under certain other assets as hereinafter described.

VI. Pursuant to that certain Ground Lease Agreement, dated June 23, 2000, by and between
Lufkin Seller and Piney Woods Healthcare System, L.P., a Delaware limited partnership (“Lufkin
Hospital”), as successor in interest to HDP Woodland Heights L.P., a Delaware limited
partnership (“Predecessor Lufkin Hospital”), as amended by that certain First Amendment to
Ground Lease Agreement, by Lufkin Seller and Lufkin Hospital, effective as of June 23, 2000, as
further amended by that certain Agreement Regarding Ground Lease and Amendment to Master Lease, by
Lufkin Seller and Lufkin Hospital in favor of Existing Lender, dated as of December 29, 2006 (as
amended, the “Lufkin Ground Lease”), Lufkin Seller ground leases from Lufkin Hospital
certain real property located at 302 Medical Park Drive, Lufkin, Texas (“Lufkin Parcel”),
and altogether more particularly described on Exhibit “A-6” attached hereto, and Lufkin
Seller holds certain right, title and interest in, to and under certain other assets as hereinafter
described.

VII. Pursuant to that certain Ground Lease Agreement, dated February 2003, by and between
Victoria Seller and Victoria of Texas, L.P., a Delaware limited partnership (“Victoria
Hospital”), as amended by that certain Agreement Regarding Ground Lease, dated December 29,
2006, by Victoria Seller and Victoria Hospital in favor of Existing Lender (as amended, the
“Victoria Ground Lease”), Victoria Seller ground leases from Victoria Hospital certain real
property located at 110 Medical Drive, Victoria, Texas (“Victoria Parcel”), and altogether
more particularly described on Exhibit “A-7” attached hereto, and Victoria Seller holds
certain right, title and interest in, to and under certain other assets as hereinafter described.

VIII. Pursuant to that certain Ground Lease Agreement, dated May 9, 2000, by and between
Wharton Seller and Signature Gulf Coast Hospital, L.P., a Delaware limited partnership
(“Wharton Hospital”), as successor-in-interest to Gulf Coast Hospital, L.P.
(“Predecessor Wharton Hospital”), as amended by that certain Consent to Assignment and
Modification of Leases, among Wharton Seller, Wharton Hospital, and Predecessor Wharton Hospital,
dated as of December 31, 2005, as further amended by that certain Agreement Regarding Ground Lease
and Amendment to Master Lease, by Wharton Seller and Wharton Hospital in favor of Existing Lender,
dated as of December 29, 2006 (as amended, the “Wharton Ground Lease”), Wharton Seller
ground leases from Wharton Hospital certain real property located at 2112 Regional Medical Drive,
Wharton, Texas (“Wharton Parcel”), and altogether more particularly described on
Exhibit “A-8” attached hereto, and Wharton Seller holds certain right, title and interest
in, to and under certain other assets as hereinafter described.

IX. Alice Parcel, Carlsbad Parcel, Hobbs Parcel, Hope Parcel, Lake Charles Parcel, Lufkin
Parcel, Victoria Parcel and Wharton Parcel are each referred to herein as a “Parcel” and
collectively, as the “Parcels”. Alice Hospital, Carlsbad Hospital, Hobbs Hospital, Hope
Hospital, Lake Charles Hospital, Lufkin Hospital, Victoria Hospital and Wharton Hospital are each
referred to herein as a “Ground Lessor”. The Alice Ground Lease, Carlsbad Ground Lease,
Hobbs Sub-Sub Ground Lease, Hope Ground Lease, Lake Charles Ground Lease, Lufkin Ground Lease,
Victoria Ground Lease and Wharton Ground Lease are each referred to herein as a “Ground
Lease” and collectively, as the “Ground Leases”.

X. Each Seller constructed and/or renovated a medical office building or buildings upon the
Parcel leased by such Seller.

XI. The Sellers desire to sell to Buyer, and Buyer desires to purchase from the Sellers, the
Property (as hereinafter defined) on the terms and conditions contained in this Agreement.

AGREEMENT

NOW, THEREFORE, in consideration of the promises and mutual agreements contained herein, and
other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto do hereby agree as follows:

ARTICLE 1

SALE OF PROPERTY

1.1 Property To Be Sold. Subject to the terms and provisions hereof, the Sellers
agree to sell to Buyer, and Buyer agrees to purchase from the Sellers, upon the terms and
conditions of this Agreement:

1.1.1 All of the Sellers’ right, title and interest in and to all of the Parcels, together
with all privileges, rights, easements and appurtenances belonging to the Parcels, including
without limitation, the leasehold rights under the Ground Leases, together with all security
deposits or other deposits held in connection therewith (if any), and all right, title and interest
(if any) of the Sellers in and to any streets, alleys, passages, and other rights-of-way or
appurtenances included in, adjacent to or used in connection with such land and all right, title
and interest (if any) of the Sellers in all mineral and development rights appurtenant to the
Parcels (collectively, the “Land”);

1.1.2 The Sellers’ right and title under and pursuant to the Ground Leases (subject to (x)
reversion under the applicable Ground Leases to the applicable Ground Lessor and (y) the rights of
the Tenants (as hereafter defined) under the Tenant Leases (as hereafter defined) and any
subtenants of the Tenants) to all buildings, structures and other improvements and all fixtures,
systems and facilities located on the Land (the “Improvements”; together with the Land,
from time to time, the “Real Property”);

1.1.3 All of the Sellers’ applicable right in and to (i) leases (excluding the Ground Leases)
entered into by a Seller, including all amendments thereto, with persons or entities (each a
“Tenant”, and collectively, the “Tenants”) leasing the Real Property or any part
thereof or hereafter entered into in accordance with the terms hereof prior to Closing
(collectively, the “Tenant Leases”), together with all security deposits, other deposits
held in connection with the Tenant Leases, and all of the Sellers’ right title and interest in and
to all guarantees, letters of credit and other similar credit enhancements providing additional
security for such Tenant Leases, and (ii) any sub-leases to which a Seller is a party or bound,
including all amendments thereto, with persons or entities leasing all or a portion of the Real
Property as sub-tenants of Tenants (“Sub-Leases”), together with all security deposits,
other deposits held in connection with such Sub-Leases, and all of the Sellers’ right title and
interest in and to all guarantees, letters of credit and other similar credit enhancements
providing additional security for such Sub-Leases. For purposes of this Agreement, (a) each of
those master leases set forth on Schedule 1.1.3 attached hereto, as amended, shall
constitute a “Tenant Lease” and accordingly, each of the following shall constitute a “Tenant”:
Alice Hospital, Carlsbad Hospital, Hobbs Hospital, Hope Hospital, Lake Charles Hospital, Lufkin
Hospital, Victoria Hospital and Wharton Hospital, and (b) Sub-leases entered into by Tenants shall
not be deemed to be included within the definition of “Tenant Leases”. For purposes of
clarification, Buyer hereby acknowledges that Sellers have informed Buyer that the only Tenant
Leases for which certain obligations of the Tenant are currently guaranteed are with respect to the
Victoria Parcel and the Hope Parcel, as evidenced by and further described in, respectively,
(i) that certain Lease Guaranty, dated February 2003, by Triad Hospitals, Inc. in favor of Victoria
Seller, and (i) that certain Lease Guaranty, dated June 27, 2002, by Triad Hospitals, Inc. in favor
of Hope Seller, as supplemented by that certain Consent to Assignment and Modification of Leases,
among Hope Seller, Triad Hospitals, Inc., Hope Hospital, Predecessor Hope Hospital, and Signature
Hospital, LLC, dated as of December 31, 2005;

1.1.4 All of the Sellers’ right, title and interest in and to (i) any and all tangible
personal property owned by the Sellers located on or used exclusively in connection with the Real
Property, including, without limitation, sculptures, paintings and other artwork, equipment,
furniture, tools and supplies as well as the Sellers’ rights in and to any reserve accounts held in
connection with the Existing Loan (as defined below) (collectively, the “Tangible Personal
Property”); and (ii) any and all plans and specifications; architectural and engineering
drawings; the common name of the Real Property (collectively, the “Intangible Personal
Property”, and, collectively with the Tangible Personal Property, the “Personal
Property”);

1.1.5 All of the Sellers’ rights in and to all warranties and guaranties relating to the
Improvements (the “Warranties”);

1.1.6 All of the Sellers’ rights in and to all use, occupancy, building and operating
licenses, permits, approvals, and development rights relating to the Real Property (the
“Permits”);

1.1.7 All service contracts, any leasing commission agreements, any property management
agreements, any construction contracts, and similar type property-related agreements entered into
by the Sellers (or to which Sellers are otherwise a party or entered into by Seller in accordance
with this Agreement) prior to Closing (collectively, the “Contracts”), to the extent Buyer
has agreed to assume same pursuant to Section 3.4 and to the extent not required to be
terminated pursuant to Section 4.5.2;

1.1.8 All of the Sellers’ rights in and to the trade names used or utilized by the Sellers in
connection with the Property, including, without limitation, as set forth on Schedule 1.1.8
hereof; and

1.1.9 The Real Property, Personal Property, and the Sellers’ interest in the other property
described in this Section 1.1 are hereinafter sometimes referred to collectively as the
“Property.”

1.2 Purchase and Sale. Buyer agrees to purchase from the Sellers, and the Sellers
agree to sell to Buyer, all of the Sellers’ right, title and interest in and to the Property, on
the terms and conditions set forth in this Agreement.

1.3 Purchase Price. The purchase price for the Property (the “Purchase
Price”) shall be Thirty Million Fifty Thousand and No/100 Dollars ($30,050,000.00) (less any
amounts allocable to any Parcel(s) (as set forth in Schedule 1.3) that Buyer does not
purchase (each a “Non-Purchased Parcel”), provided Buyer, subject to and in accordance with
any express right of Buyer contained in this Agreement to terminate this Agreement in its entirety
or with respect to a specific Parcel (collectively, the “Buyer Termination Rights”) timely
and properly exercises such Buyer Termination Right with respect to such Non-Purchased Parcel).
The Purchase Price shall be paid to the Sellers by Buyer on the Closing Date (as defined below),
plus or minus all adjustments or credits as set forth herein, by wire transfer of immediately
available federal funds. The Purchase Price (including the Deposit) shall be allocated among the
Sellers, and with respect to each Seller, among such Seller’s leasehold interest in the applicable
Land, ownership interest in the applicable Improvements and other interest(s) in the right, title
and interest of such Seller to Parcels, in accordance with Schedule 1.3 attached hereto and
incorporated herein (and Buyer agrees not to take a tax or other position inconsistent with such
allocation). The parties hereto agree that no portion of the Purchase Price is attributable to
personal property.

1.4 Deposit And Escrow.

1.4.1 Within three (3) Business Days (as defined below) after the Effective Date, Buyer shall
deliver to Escrow Agent at the following address: 777 South Figueroa Street, Fourth Floor Los
Angeles, California 90017 Attn: Barbara Laffer (blaffer@firstam.com) Phone: (213) 271-1702, a
deposit in the amount of Three Hundred Fifty Thousand and No/100 Dollars ($350,000.00) (the
“Deposit”). In addition, Buyer shall deposit with Seller $100.00, as an additional
deposit, which is non-refundable and immediately becomes the property of Seller upon execution and
delivery of this Agreement. The Deposit may be delivered by wire transfer in accordance with the
instructions set forth on Schedule 1.4 hereto, or by check, and in either case, shall be
held in an insured (up to $250,000), interest-bearing account at First American Trust FSB
with interest accruing for the benefit of the party entitled to the Deposit (and at Closing or
such other date upon which the Deposit is released pursuant to the terms hereof, the interest will
be paid to the party entitled to the Deposit). Escrow Agent may conclusively rely upon and act,
subject to the escrow provisions of this Agreement, in accordance with any certificate,
instructions, notice, letter, e-mail, facsimile, or other written instrument believed to be genuine
and signed or communicated by the proper party or parties entitled to deliver same to Escrow Agent
under this Agreement.

1.4.2 The Deposit (and any interest accrued thereon) shall be applied to the Purchase Price if
the Closing (as defined below) occurs. Upon delivery of Buyer’s Approval Notice (as defined
below), the Deposit shall not be returned to Buyer other than in accordance with Section
5.2 and unless escrow fails to close due to any reason that expressly entitles Buyer to have
the Deposit (or applicable portion thereof) returned as provided for herein, including, without
limitation, any reason provided in Sections 1.7, 2.3, 2.4, 2.6, 3.6, 5.4, 5.5, 6.2, 7.1, and
7.2. In the event Buyer shall elect to terminate, or shall be deemed to have terminated this
Agreement, during the Due Diligence Period (as defined below), the Deposit (and any interest
accrued thereon) shall be returned to Buyer as provided in Section 3.6; provided, however,
that if Buyer shall elect to terminate this Agreement as to one or more, but not all of the
Parcels, as provided herein, only the Applicable Portion of the Deposit (as hereinafter defined)
shall be returned to Buyer.

1.5 Closing Date. The closing (“Closing”) of the transactions contemplated
herein shall be an escrow style closing to occur thirty (30) days after the expiration of the Due
Diligence Period (the “Scheduled Closing Date”; as the same may be held earlier or extended
in accordance herewith, the “Closing Date”).

1.6 Assumption of Existing Loan.

1.6.1 Buyer acknowledges that the Sellers have informed Buyer that the Sellers and
Longview-TMB, L.P., a Delaware limited partnership (“Longview”), are party to a loan (the
“Existing Loan”), in the original aggregate principal amount of $43,050,000 (the
“Original Loan Amount”), made by General Electric Capital Corporation (the “Existing
Lender”), as evidenced by (a) that certain Loan Agreement, between Sellers and Existing Lender,
dated December 29, 2006 (as heretofore amended or otherwise modified, the “Loan
Agreement”), and (b) that certain Promissory Note in the amount of $2,300,000 and that certain
Promissory Note in the amount of $40,750,000, each made by Sellers in favor of Existing Lender and
dated December 29, 2006 (as heretofore amended or otherwise modified, collectively, the
“Notes”). The Sellers represent to Buyer that Longview and Sellers are directly or
indirectly controlled by Seavest Inc. (“Seavest”) or an affiliate of Seavest. The Existing
Loan is secured by, among other things, first lien mortgages and/or deeds of trust as further
described on Exhibit “J” (as heretofore amended or otherwise modified, collectively, the
“Mortgages”) encumbering the Real Property and certain real property owned and/or leased by
Longview (the “Longview Real Property”; together with the Real Property, the “Mortgaged
Real Property”), and certain of the Sellers’ and Longview’s obligations under the Existing Loan
are, among other things, guaranteed by one or more affiliates of the Sellers and Longview
(collectively, the “Existing Guarantor”) pursuant to one or more guaranties and/or
indemnities (as heretofore amended or otherwise modified, collectively, the “Loan Guaranties
and Indemnities”) entered into by the Existing Guarantor in favor of the Existing Lender. The
Loan Agreement, Notes, Mortgages, Loan Guaranties and Indemnities, and such other agreements
referred to therein and/or entered into in connection with the Existing Loan, as same may
heretofore be amended or otherwise modified, are collectively referred to herein from time to time
as the “Loan Documents”).

1.6.2 Buyer and the Sellers agree that, subject to the other provisions of this Section
1.6:

(a) at Closing, Buyer and/or the Buyer Subsidiaries shall assume (the “Loan
Assumption”) the Existing Loan other than the portion of the Existing Loan allocated to
Longview and the Longview Real Property (“Longview Portion of Existing Loan”) and
any other portion of the Existing Loan allocated to a Non-Purchased Parcel that Buyer and/or
Buyer Subsidiaries do not purchase, provided Buyer, subject to and in accordance with any
Buyer Termination Right, properly and timely exercised such Buyer Termination Right with
respect to such Non-Purchased Parcel. The Existing Loan less the Longview Portion of the
Existing Loan and less any other portion of the Existing Loan allocated to a Parcel that
Buyer and/or Buyer Subsidiaries does not purchase, provided Buyer, subject to and in
accordance with any Buyer Termination Right, properly and timely exercised such Buyer
Termination Right with respect to such Non-Purchase Parcel, is hereinafter the
“Applicable Portion of the Existing Loan”). Sellers represents that, as of February
28, 2011, the principal amount of the Applicable Portion of the Existing Loan to be assumed
by Buyer pursuant to the Loan Assumption was Twenty-Three Million Three Hundred Thirty
Thousand Five Hundred and Fifty-Eight Dollars and Zero Cents ($23,330,558) (such amount,
less any pay downs of principal allocable to the Properties between February 28, 2011 and
the Closing Date, being referred to herein as the “Loan Assumption Amount”).
Sellers represent that, as of February 28, 2011, the Loan Assumption Amount was allocated
among the Properties as set forth on Schedule 1.6.2. Sellers represent that, as of
February 28, 2011, the then current balance of the Existing Loan allocable to the Longview
Portion of Existing Loan was $14,716,952;

(b) the Existing Lender’s consent (the “Loan Consent”) is required before
Buyer and/or the Buyer Subsidiaries will be permitted to assume the Applicable Portion of
the Existing Loan pursuant to the Loan Assumption;

(c) Notwithstanding anything to the contrary contained in this Agreement, neither
Sellers nor Buyer shall have any obligation to pay any prepayment breakage fee, or Loan
assignment or assumption fee or penalty in connection with the Loan Assumption and/or
retention/modification of the Longview Portion of the Existing Loan (collectively
“Pre-payment Fees”). Other than Pre-payment Fees, Sellers shall pay all reasonable
costs, fees and expenses of the Existing Lender or properly charged to the Sellers under the
Loan Documents in connection with the Loan Consent and Loan Assumption, including, without
limitation, fees charged by the recording office in the applicable jurisdictions for
recordation of documents related to the Loan Assumption (collectively, the “Loan
Assumption Related Costs”); provided, however, the parties agree that
the Loan Assumption Related Costs shall not include (i) any legal fees or costs incurred by
Buyer or any affiliates of Buyer (including, without limitation, the Buyer Subsidiaries (as
hereinafter defined) and/or the Replacement Guarantor (as hereinafter defined)), to the
extent charged by legal counsel to Buyer, Buyer Subsidiaries, or Replacement Guarantor in
connection with the Loan Assumption and/or the Loan Consent, (ii) the cost of complying with
the requirements of the Loan Documents with respect to the Applicable Portion of the
Existing Loan (assumed by Buyer pursuant to the Loan Assumption), and (iii) costs and fees
(including, without limitation, legal fees or costs) to the extent (a) relating to an
extension of the term, increase of principal, or change in interest rate of the Applicable
Portion of the Existing Loan, and (b) not a condition to Existing Lender’s Loan Consent.

(d) Buyer and the Sellers shall in good faith supply the information reasonably
requested by the Existing Lender with respect to the Loan Consent;

(e) the Sellers, Longview and the Existing Lender shall split or otherwise allocate the
Existing Loan (and amend or otherwise modify the Loan Documents) pursuant to such documents
or instruments reasonably required by the Existing Lender and reasonably acceptable to
Sellers and Longview, such that the Applicable Portion of the Existing Loan shall be
allocated to the Sellers, on the one part (in an amount equal to the Loan Assumption
Amount), and Longview, on the other part (in an amount equal to the balance as of the
Closing Date of the Longview Portion of the Existing Loan);

(f) Buyer shall not be made a co-borrower with Longview, Sellers, or any other party
with respect to the Applicable Portion of the Existing Loan assumed by Buyer (and, further,
the Applicable Portion of the Existing Loan shall not be cross-defaulted or cross
collateralized with any loan to Longview, Sellers, or any other party; provided,
however, the Applicable Portion of the Existing Loan assumed by Buyer and/or Buyer
Subsidiaries may be cross defaulted and cross collateralized among the Buyer and/or Buyer
Subsidiaries and the Parcels purchased by such party(ies)), and any documents required to be
executed by Buyer and/or Buyer Subsidiaries and/or Replacement Guarantor, as the case may
require, in connection with the Loan Assumption shall be commercially reasonable and
otherwise subject to Buyer’s reasonable discretion and approval;

(g) Buyer (or Buyer Subsidiaries), the Sellers and/or the Existing Lender shall enter
into one or more documents or instruments evidencing the Loan Assumption (collectively, the
“Loan Assumption Documents”) to be furnished by the Existing Lender or at the
Existing Lender’s request, which shall provide, among other things, that (i) Buyer (or Buyer
Subsidiaries) enters into the Loan Assumption, (ii) the Sellers shall be released
prospectively from further liability or obligation under the Existing Loan (to the extent
assumed by Buyer or Buyer Subsidiaries pursuant to the Loan Assumption), (iii) Buyer shall
furnish a guarantor satisfactory to the Existing Lender and to Buyer (it being agreed that
Buyer offering to Existing Lender Grubb & Ellis Healthcare REIT II, Inc. as Replacement
Guarantor shall satisfy this item) (the “Replacement Guarantor”) in replacement of
the Existing Guarantor with respect to the obligations of the Existing Guarantor under the
Loan Guaranties and Indemnities under the Existing Loan (to the extent assumed by Buyer or
Buyer Subsidiaries pursuant to the Loan Assumption), and (iv) the Existing Guarantor shall
be released prospectively from all liability and obligation under the Loan Guaranties and
Indemnities under the Existing Loan (to the extent assumed by Buyer or Buyer Subsidiaries
pursuant to the Loan Assumption); and

(h) pursuant to Sections 5.4 and 5.5, it shall be a condition to
Buyer’s and/or the Sellers’, as applicable, obligations to Closing that the Existing Lender
furnishes the Loan Consent and that Buyer and/or the Sellers, as applicable, comply with the
provisions of this Section 1.6 in connection with the Loan Consent.

1.6.3 Subject to the terms of this Section 1.6 and any Buyer Termination Rights (which
if properly and timely exercised by Buyer would negate Buyer’s need to comply with this Section
1.6 as it relates to the Non-Purchased Parcel(s) solely), Buyer agrees, from and after the
Effective Date, to (a) use its good faith commercially reasonable efforts to cooperate with the
Sellers to obtain the Loan Consent, (b) use its good faith efforts to furnish a Replacement
Guarantor acceptable to the Existing Lender and Buyer by the Closing Date (it being agreed and
understood by Sellers and Buyer that Buyer will offer to Existing Lender Grubb & Ellis Healthcare
REIT II, Inc. as Replacement Guarantor), (c) promptly respond to any reasonable request from the
Existing Lender for information regarding Buyer and/or the Replacement Guarantor, (d) promptly
respond to the Existing Lender, and provide comments to (and negotiate in good faith) any drafts of
the Loan Assumption Documents, and (e) satisfy the Existing Lender’s reasonable requirements for
the Loan Assumption that are required to be satisfied by Buyer and/or the Replacement Guarantor in
accordance with this Agreement, including, without limitation, the requirement (i) that each Parcel
shall be ground leased to, and owned by, a separate subsidiary of Grubb & Ellis Healthcare REIT II,
Inc. satisfactory (in each case) to Existing Lender with governing documents satisfactory to
Existing Lender (each, a “Buyer Subsidiary”, and collectively, the “Buyer
Subsidiaries”), (ii) that Buyer, the Replacement Guarantor and the Buyer Subsidiaries comply
with the reasonable requirements of the Existing Lender, (iii) for opinions from counsel to Buyer
and/or the Replacement Guarantor that are customary for transactions of this nature, (iv) with
respect to title insurance, as applicable, new policies, bring down endorsements and other
customary title endorsements as may be requested by the Existing Lender (provided, however, the
costs thereof shall be paid in accordance with Section 5.8.1), (v) that Buyer obtain
property and casualty insurance policies as and to the extent required by the Loan Documents (as
assumed pursuant to the Loan Assumption Documents) to replace the insurance policies of the Sellers
on the Closing Date with respect to the Property so that the Sellers may, at its sole option,
terminate their policies effective as of the Closing Date, (vi) to engage one or more manager(s)
for the Real Property as and to the extent required by the Loan Documents (as assumed pursuant to
the Loan Assumption Documents), and (vii) to establish all required accounts, escrows and reserves,
as required by the Loan Documents (as assumed pursuant to the Loan Assumption Documents).

1.6.4 Subject to the terms of this Section 1.6, the Sellers agree, from and after the
Effective Date, to (a) use their good faith commercially reasonable efforts to cooperate with Buyer
to obtain the Loan Consent, (b) promptly respond to any request from the Existing Lender for
information regarding the Sellers, Longview, the Existing Guarantor, and/or the Property, (c)
promptly respond to the Existing Lender, and provide comments to (and negotiate in good faith) any
drafts of the Loan Assumption Documents, and (d) satisfy the Existing Lender’s reasonable
requirements for the Loan Assumption that are required to be satisfied by the Sellers, Longview
and/or the Existing Guarantor, including with respect to title insurance, as applicable, new title
policies, any bring down endorsements and other customary title endorsements as may be requested by
the Existing Lender (provided, however, the costs thereof shall be paid in accordance with
Section 5.8.1).

1.6.5 At Closing, Sellers shall transfer to Buyer their interest in the Replacement Reserves
(as defined in the Loan Agreement) allocable to the Property, which Sellers represent, as of
February 28, 2011 was as described in Schedule 1.6.5 hereto, and Buyer shall at Closing
reimburse Sellers the aggregate amount of such Replacement Reserves.

1.7 Exercise of Rights of First Refusal. Sellers shall use commercially reasonable
efforts to obtain the Hospital Waivers (as hereinafter defined) and the Hospital Consents (as
hereinafter defined). In the event any Ground Lessor elects to exercise a right of first refusal
to purchase or acquire interests in any portion of the Property, Sellers shall promptly notify
Buyer of such election and provide copies of any correspondence evidencing such election. In the
event two (2) or more Ground Lessors elect to exercise such rights under the applicable Ground
Leases, Buyer, in its sole discretion, may terminate this Agreement by delivering written notice
thereof to Sellers not later than the earlier of (i) the Closing Date, and (ii) ten (10) Business
Days following Buyer’s receipt of written notice from Sellers that two (2) or more Ground Lessors
have made such election (or, if subsequent to such notice, additional Ground Lessor(s) make such
election, not later than the earlier of (i) the Closing Date, and (ii) ten (10) Business Days
following receipt of written notice from Sellers that such additional elections have been made).
In the event of such termination of this Agreement, the Deposit (and any interest accrued thereon)
shall be disbursed in accordance with Section 5.2 and upon such disbursement neither party shall
have any continuing obligations hereunder, other than the provisions of this Agreement that are
expressly stated to survive the termination hereof. In the event only one (1) Ground Lessor elects
to exercise such rights, or in the event two (2) or more Ground Lessors exercise such rights and
Buyer does not timely terminate this Agreement as provided in this Section 1.7, Buyer and
the Sellers shall proceed to Closing in accordance with this Agreement; provided,
however, that, at Closing, the Sellers shall not convey, to Buyer, and Buyer shall not
purchase from Sellers, the portion of the Property to be acquired by the electing Ground Lessor(s),
and the Purchase Price (and the Loan Assumption Amount) shall be reduced by the allocated portion
attributable to the portion of the Property to be acquired by the electing Ground Lessor(s).

ARTICLE 2

TITLE AND SURVEY

2.1 Title and Survey. Buyer may, at its option (i) obtain preliminary title reports
or commitments (collectively, the “Preliminary Reports”) from Escrow Agent (referred to
herein in such capacity as the “Title Company”), together with legible copies of all
recorded encumbrances and exceptions to title, with respect to the Real Property, (ii) conduct UCC
searches covering the Sellers and the Property (collectively, the “UCC Searches”), and
(iii) order surveys of the Real Property by a licensed surveyor or registered professional engineer
(collectively, the “Surveys”). Upon receipt thereof by Buyer, Buyer shall promptly deliver
a copy of the Preliminary Reports, the UCC Searches and the Surveys to the Sellers. If Buyer
elects not to obtain, conduct or order any Preliminary Report, UCC Search, or Survey or if Buyer
fails to deliver any Preliminary Report, UCC Search, or Survey to the Sellers by 5:00 p.m.
(California time) on the date (the “Title Deadline”) which is ten (10) days prior to the
expiration of the Due Diligence Period (as hereinafter defined), Buyer shall be deemed to have
accepted all matters and conditions of record as of the Title Deadline and/or that would have been
set forth in such undelivered Preliminary Report, UCC Search, or Survey as matters or conditions
encumbering or affecting the applicable Seller or portion of the Property as if such undelivered
Preliminary Report, UCC Search, or Survey been ordered by Buyer and received by the Sellers by the
Title Deadline (the “Deemed Accepted Matters”), and Buyer shall have no right to object to
any Deemed Accepted Matter as unacceptable matters or conditions encumbering or affecting such
Seller or portion of the Property, condition the Closing on the removal or cure of any Deemed
Accepted Matters, or receive a reduction of the Purchase Price on account of any Deemed Accepted
Matter. Notwithstanding anything herein to the contrary, the costs of the Preliminary Reports and
UCC Searches shall be allocated between Buyer and Sellers in accordance with Section 5.8.1
below.

2.2 Required Title Condition. Title to the Real Property shall be conveyed to Buyer
subject only to the following matters: (i) current, non-delinquent real estate taxes and
assessments (the “Current Taxes”), (ii) the matters set forth in the Preliminary Reports,
UCC Searches and Surveys, to the extent accepted (or deemed accepted) by Buyer as Permitted
Exceptions in this Article 2, (iii) the lien of the Loan Documents (to the extent assumed
by Buyer and excluding the lien on the Longview Real Property) (the “Existing Lender’s
Liens”), (iv) any other title matters approved in writing by Buyer in Buyer’s sole and absolute
discretion, (v) the Deemed Accepted Matters, and (vi) matters or conditions encumbering or
affecting the Real Property created or caused by the actions of Buyer, its employees, contractors
and/or agents (the “Buyer Created Liens”) (the matters set forth in clauses (i) to
(vi) are referred to herein, collectively, as the “Required Title Condition”).
Notwithstanding anything contained in this Article 2 to the contrary, including without
limitation any acceptance or deemed acceptance by the Buyer, the Sellers shall be obligated, at
their sole cost and expense, to satisfy at or prior to Closing (i) all monetary encumbrances
arising from the direct and voluntary acts of Sellers and affecting the Property (other than the
Existing Lender’s Lien), which, for purposes of clarification, shall include without limitation
encumbrances resulting from Contracts, judgment liens against Sellers, and any income tax liens
against Sellers, (ii) all monetary encumbrances arising from omissions of Sellers (to the extent
such omissions relate directly to monetary encumbrances arising from the direct and voluntary acts
of Sellers, as opposed to the direct and voluntary acts or omissions of Tenants, sub-tenants or
other third parties), and (iii) real property taxes that are due and owing as of the Closing Date
(collectively, “Seller Monetary Encumbrances”), whether evidenced by deeds of trust, tax
liens, judgments, mechanics’ liens, or other liens or charges in a fixed sum, and, with respect to
the portion of the Real Property sold, conveyed, assigned, or otherwise transferred, by Sellers,
the Sellers authorize the use of the applicable allocated portion of the Purchase Price (as set
forth in Schedule 1.3) for such portion of the Real Property to pay and discharge the same
(to the extent encumbering such portion of the Real Property) at Closing. For purposes of
clarification, Sellers shall not be obligated to satisfy at or prior to Closing any liens, claims,
encumbrances, or other matters affecting title to the Property (other than the Seller Monetary
Encumbrances) including, without limitation, any monetary encumbrances that do not constitute
Seller Monetary Encumbrances (collectively, “Third Party Monetary Encumbrances”), other
than as expressly set forth in Section 2.6 below or as otherwise expressly agreed to in
writing by any Seller pursuant to this Article 2.

2.3 Buyer’s Title and Survey Review and Objections. If the Preliminary Reports, UCC
Searches, or Surveys disclose exceptions to title or survey matters (other than the Current Taxes,
the Deemed Accepted Matters, the Existing Lender’s Liens, Third Party Monetary Encumbrances and the
Buyer Created Liens), which are not acceptable to Buyer in Buyer’s sole discretion (any such
exception being referred to herein as an “Unpermitted Exception”), then Buyer shall have
the right to give the Sellers notice of such Unpermitted Exceptions on or before the expiration of
the Title Deadline setting forth the applicable Unpermitted Exceptions (collectively, the
“Title Objection Notice”). Any such exceptions shown on the Preliminary Reports, UCC
Searches, and/or Surveys and not, in each case, expressly set forth in a timely delivered Title
Objection Notice shall be deemed accepted by Buyer and shall be a “Permitted Exception”,
other than Seller Monetary Encumbrances and Third Party Monetary Encumbrances. The applicable
Seller shall have until the date (the “Seller Section 2.3 Notice Date”) which is seven (7)
Business Days following the receipt of any such notice in which to give Buyer notice that (a) such
Seller will either cause the Unpermitted Exception(s) referenced in a timely delivered Title
Objection Notice to be, at Sellers’ sole cost, (i) as applicable, deleted as an exception(s) from
the applicable Preliminary Report, removed as UCC Liens (as hereinafter defined), and removed from
the applicable Survey, (ii) insured over by the Title Company in a manner reasonably acceptable to
Buyer, or (iii) otherwise cured in a manner reasonably requested by Buyer, or (b) such Seller will
not cause such Unpermitted Exception(s) to be, at Sellers’ sole cost, (i) as applicable, deleted as
an exception(s) from the applicable Preliminary Report, removed as UCC Liens (as hereinafter
defined), and removed from the applicable Survey, (ii) insured over by the Title Company in a
manner reasonably acceptable to Buyer, or (iii) otherwise cured in a manner reasonably requested by
Buyer (provided, that the Sellers shall be required to cause Seller Monetary Encumbrances to be
deleted as an exception(s) from the Preliminary Reports, removed as UCC Liens, and removed from the
applicable Survey as provided in Section 2.2; and in the event any Seller fails to deliver
such notice within such seven (7) Business Day period, such Seller shall be deemed to have elected
under clause (b)). If (i) Sellers give notice under clause (a) above with respect
to any Unpermitted Exception, then Sellers shall cause such Unpermitted Exception, at Sellers’ sole
cost, to either be (x) as applicable, deleted as an exception from the applicable Preliminary
Report, removed as a UCC Lien, and removed from the applicable Survey (and cause the applicable
surveyor to reissue and recertify the applicable Survey), (y) insured over by the Title Company in
a manner reasonably acceptable to Buyer, or (z) otherwise cured in a manner reasonably requested by
Buyer, and (ii) if a Seller gives notice that it will not cause any of the Unpermitted Exception(s)
referenced in such notice to be, at Sellers’ sole cost, (x) as applicable, deleted as an exception
from the applicable Preliminary Report, removed as a UCC Lien, and removed from the applicable
Survey (and cause the applicable surveyor to reissue and recertify the applicable Survey), (y)
insured over by the Title Company in a manner reasonably acceptable by Buyer, or (z) otherwise
cured in a manner reasonably requested by Buyer (or any Seller does not give any notice as to any
such Unpermitted Exception under either clauses (a) or (b) above), then Buyer will
thereafter have the right to elect by written notice (“Buyer 2.3 Notice”) to Seller given
within five (5) Business Days after the Seller Section 2.3 Notice Date, in its sole discretion, to
either (x) terminate this Agreement with respect to any Parcel that remains encumbered by an
Unpermitted Exception, in which case, subject to the provisions of Sections 3.6, the
Applicable Portion of the Deposit (and any interest accrued thereon) shall immediately be returned
to Buyer without any further action required from either party and neither party shall have any
continuing obligations hereunder with respect to such Parcel, other than the provisions of this
Agreement that are expressly stated to survive the termination hereof, or (y) waive (it being
agreed that Buyer’s failure to timely give a Buyer 2.3 Notice shall be deemed a waiver of such
undeleted, unremoved and/or uncured Permitted Exceptions, whereupon same shall be deemed Permitted
Exceptions except as otherwise provided herein) the right to terminate this Agreement with respect
to such Parcel on account of such undeleted, unremoved, and/or uncured Unpermitted Exception(s) and
proceed to Closing without abatement of the Purchase Price (in which event, for purposes hereof,
any such waived Unpermitted Exceptions previously objected to by Buyer shall become Permitted
Exceptions hereunder, other than Seller Monetary Encumbrances and Third Party Monetary
Encumbrances). Buyer’s failure to timely give the Buyer 2.3 Notice shall be a deemed election of
clause (y). “Applicable Portion of the Deposit” shall mean the product of multiplying the
amount of the Deposit by a fraction, the numerator of which is the allocated amount of the Purchase
Price for the applicable parcel (as shown on Schedule 1.3) and the denominator of which is the
Purchase Price.

2.4 Updates of Preliminary Reports and Surveys. If any update (each, an
“Update”) of the Preliminary Reports, UCC Searches, or the Surveys obtained by Buyer after
the end of the Due Diligence Period and prior to the Closing Date discloses new exceptions,
matters, liens, encumbrances, or conditions (other than the Current Taxes, the Existing Lender’s
Liens, the Deemed Accepted Matters, the Third Party Monetary Encumbrances, the Permitted Exceptions
under Section 2.3 and the Buyer Created Liens) (the “New Exceptions”), which are
not acceptable to Buyer in Buyer’s sole discretion, then Buyer shall give Sellers notice thereof
within the earlier of (i) five (5) business days after receipt of the Update or (ii) the Closing
Date (the “Update Notice”). In the event Buyer fails to timely give Sellers an Update
Notice, all New Exceptions on such Update shall be deemed Permitted Exceptions, other than Seller
Monetary Encumbrances and Third Party Monetary Encumbrances. Provided Buyer timely gives Sellers
an Update Notice, Sellers shall have the earlier of (x) five (5) Business Days following the
receipt of any such notice or (y) the Closing Date in which to give Buyer notice (the “Outside
Seller 2.4 Notice Date”) that Sellers will either (a) cause such New Exception(s) referenced in
a timely delivered Update Notice to be cured in a manner reasonably requested by Buyer at Sellers’
sole cost, or (b) Sellers will not cause such New Exception(s) to be cured in a manner reasonably
requested by Buyer (provided, that the Sellers shall be required, at Sellers’ sole cost, to cause
Seller Monetary Encumbrances to be deleted as an exception(s) from the updated Preliminary Reports,
removed as UCC Liens, and removed from the applicable Survey as provided in Section 2.2;
and in the event Sellers fail to deliver such notice prior to the earlier of (m) such five (5)
Business Day period, or (n) the Closing Date, Sellers shall be deemed to have elected under
clause (b)). If (i) Sellers give notice that they will cause any of the New Exception(s)
referenced in Buyer’s notice to be cured, then Sellers shall have such New Exception(s) cured in a
manner reasonably requested by Buyer at Sellers’ sole cost, and (ii) if Sellers give notice that
Sellers will not cause all of the New Exception(s) referenced in such Update Notice to be cured in
a manner reasonably requested by Buyer at Sellers’ sole cost (or Sellers do not give any notice as
to any such New Exception under either clauses (a) or (b) above), then Buyer will
thereafter have the right to elect by a written notice given to Sellers by Buyer within five (5)
Business Days after the Outside Seller 2.4 Notice Date (a “Buyer 2.4 Notice”), in its sole
discretion, to either (x) terminate this Agreement with respect to any Parcel that remains
encumbered by a New Exception, in which case, the Applicable Portion of the Deposit (and any
interest accrued thereon) shall be disbursed in accordance with Section 5.2 hereof and upon
such disbursement neither party shall thereafter have any continuing obligations hereunder with
respect to such Parcel, other than the provisions of this Agreement that are expressly stated to
survive the termination hereof, or (y) waive (it being agreed that Buyer’s failure to timely give a
Buyer 2.4 Notice shall be deemed a waiver of such applicable New Exception(s), whereupon same shall
become Permitted Exceptions, other than Seller Monetary Encumbrances and Third Party Monetary
Encumbrances) the right to terminate this Agreement with respect to such Parcel on account of such
undeleted, unremoved, and/or uncured New Exception(s) and proceed to Closing without abatement of
the Purchase Price (in which event, for purposes hereof, any such waived New Exception(s)
previously objected to by Buyer shall become Permitted Exceptions hereunder, other than Seller
Monetary Encumbrances and Third Party Monetary Encumbrances). Buyer’s failure to timely give a
Buyer 2.4 Notice shall be deemed an election of clause (y).

2.5 UCC Searches. Notwithstanding anything to the contrary set forth in this
Agreement, including, without limitation, Sections 2.3 and 2.4, the Sellers shall
have no obligation to remove any UCC Liens that are disclosed in the UCC Searches to the extent
such UCC Liens relate to the Applicable Portion of the Existing Loans and/or to the extent such UCC
Liens do not encumber the Sellers’ right, title and interest in, to and under the Property. For
purposes of this Agreement, “UCC Liens” shall mean a lien against or encumbering a Seller
or the portion of the right, title and interest of such Seller to the Property under the Uniform
Commercial Code of the jurisdiction where such Property is located, and disclosed in an applicable
UCC Search.

2.6 Third Party Monetary Encumbrances. If the Preliminary Reports or any Updates
disclose any Third Party Monetary Encumbrances, then, in addition to any notices permitted or
required to be given by Buyer under Sections 2.3 and/or 2.4, Buyer shall (i) with respect to the
initial Preliminary Reports issued by the Title Company, provide Sellers with written notice
thereof (as part of the Title Objection Notice, or otherwise) prior to the Title Deadline, and (ii)
with respect to any Updates, prior to the earlier of (x) five (5) Business Days after receipt of
such Update, or (y) the Closing Date (in the case of either (i) or (ii) immediately above, a
“Third Party Monetary Encumbrance Notice”). Sellers shall, prior to the date (the
“Outside TPME Date”) which is the earlier to occur of (i) five (5) Business Days after
receipt of a Third Party Monetary Encumbrance Notice, and (ii) the Closing Date, send Buyer written
notice that Sellers will either (i) cause such Third Party Monetary Encumbrance(s) to be, at
Sellers’ sole cost, (x) as applicable, deleted as an exception from the applicable Preliminary
Report, removed as UCC Liens, and removed from the applicable Survey, (y) insured over in a manner
reasonably acceptable to Buyer, or (z) otherwise removed in a manner reasonably acceptable to Buyer
(in all of which cases Sellers shall retain rights against any third parties with respect to such
Third Party Monetary Encumbrance (excluding any rights related to the termination of the underlying
leasehold interests) and Buyer shall reasonably cooperate with Sellers to exercise such rights at
no cost or liability to Buyer) (provided that, in the event the Third Party Monetary Encumbrance is
identified in an Update, Sellers’ response under the above (i) shall indicate whether Sellers will
cure the Third Party Monetary Encumbrance in a manner reasonably acceptable to Buyer, at Sellers’
sole cost), or (ii) refuse to cause such Third Party Monetary Encumbrance(s) to be (x) as
applicable, deleted as an exception from the applicable Preliminary Report, removed as UCC Liens,
and removed from the applicable Survey, (y) insured over in a manner reasonably acceptable to
Buyer, or (z) otherwise removed in a manner reasonably acceptable to Buyer (or, in the event the
Third Party Monetary Encumbrance is identified in an Update, refuse to cause such Third Party
Monetary Encumbrance to be removed in a manner reasonably acceptable to Buyer) (and in the event
Sellers fail to deliver such notice prior to the earlier of (a) such five (5) Business Day period,
or (b) the Closing Date, Sellers shall be deemed to have elected under clause (ii) above).
If (i) Sellers give notice that they will cause all of the Third Party Monetary Encumbrance(s)
referenced in such Third Party Monetary Encumbrance Notice to be cured, then Sellers shall cause
such Third Party Monetary Encumbrance to be, at Sellers’ sole cost, (x) as applicable, deleted as
an exception from the applicable Preliminary Report, removed as UCC Liens, and removed from the
applicable Survey, (y) insured over in a manner reasonably acceptable to Buyer, or (z) otherwise
removed in a manner reasonably acceptable to Buyer (in all of which cases Sellers shall retain
rights against any third parties with respect to such Third Party Monetary Encumbrance (excluding
any rights related to the termination of the underlying leasehold interests) and Buyer shall
reasonably cooperate with Sellers to exercise such rights at no cost or liability to Buyer) (or, in
the event the Third Party Monetary Encumbrance is identified in an Update, removed in a manner
reasonably acceptable to Buyer at Sellers’ sole cost), and (ii) if Sellers give notice that it will
not cause any of the Third Party Monetary Encumbrance(s) referenced in such Third Party Monetary
Encumbrance Notice to be, at Sellers’ sole cost, (x) as applicable, deleted as an exception from
the applicable Preliminary Report, removed as UCC Liens, and removed from the applicable Survey,
(y) insured over in a manner reasonably acceptable to Buyer, or (z) otherwise removed in a manner
reasonably acceptable to Buyer (or, in the event the Third Party Monetary Encumbrance is identified
in an Update, removed in a manner reasonably acceptable to Buyer) (or Sellers do not give any
notice as to any such Third Party Monetary Encumbrance(s) under either clauses (i) or
(ii) above), then Buyer will thereafter have the right to elect by a written notice to be
given by Buyer to Sellers within five (5) Business Days after the Outside TPME Date (the “Buyer
TPME Notice”), in its sole discretion, to either (A) terminate this Agreement with respect to
any Parcel encumbered by a Third Party Monetary Encumbrance, in which case, the Applicable Portion
of the Deposit (and interest accrued thereon) shall be returned to Buyer in accordance with
Section 3.6 in the event Buyer has not delivered the Approval Notice to Sellers and Escrow
Agent or disbursed in accordance with Section 5.2 hereof in the event Buyer has delivered
the Approval Notice to Sellers and Escrow Agent, and upon disbursement neither party shall have any
continuing obligations hereunder with respect to such Parcel, other than the provisions of this
Agreement that are expressly stated to survive the termination hereof, or (B) waive (it being
agreed that Buyer’s failure to give a timely Buyer TPME Notice shall be deemed a waiver of such
applicable Third Party Monetary Encumbrance(s) whereupon such Third Party Monetary Encumbrance(s)
shall be deemed Permitted Exception(s)) the right to terminate this Agreement with respect to such
Parcel encumbered by a Third Party Monetary Encumbrance and proceed to Closing without abatement of
the Purchase Price (in which event, for purposes hereof, any such waived (or deemed waived) Third
Party Monetary Encumbrance(s) previously objected to by Buyer shall be deemed Permitted Exceptions
hereunder). Notwithstanding anything else in this Section 2.6 to the contrary, in the
event the amount of the Third Party Monetary Encumbrance(s) total $10,000 or less in the aggregate,
then Buyer shall have no right to terminate this Agreement with respect to any Parcel regardless of
whether Sellers choose to cure or not cure; provided, however, that Buyer shall
receive a credit against the purchase price at Closing (not to exceed $10,000 in the aggregate) in
the actual amount of such Third Party Monetary Encumbrance(s) to pay and discharge the same (to the
extent such Third Party Monetary Encumbrances continue to encumber any portion of the Property at
Closing). Buyer’s failure to timely give a Buyer TPME Notice shall be deemed an election of clause
(B).

ARTICLE 3

INSPECTION AND DUE DILIGENCE PERIOD

3.1 Access. From and after the Effective Date through the Closing, Buyer, personally
or through its authorized agent or representatives, shall be entitled, upon reasonable advance
notice to the applicable Seller, to enter upon the Property leased or owned by such Seller during
normal business hours and shall have the right to make such investigations, including appraisals,
tenant interviews, interviews of government officials, engineering studies, soil tests,
environmental studies and underwriting analyses, as Buyer deems necessary or advisable, provided,
that (x) each such entry shall be subject to the rights of the Tenants under the Tenant Leases,
provided, that Buyer shall not unreasonably interfere with the use or occupancy of the Property by
the Tenants (and their respective subtenants, invitees, and licensees) under the Tenant Leases, and
(y) Sellers (or its representative) shall, unless it elects otherwise (on a case by case basis),
accompany Buyer on each such property visit. Buyer shall have the right to conduct a Phase I
environmental site assessment, and, if necessary, but subject to the terms of the applicable Ground
Lease and Tenant Lease and the consent of the applicable Seller which consent shall not be
unreasonably withheld or delayed, a Phase II environmental site assessment (including soils
borings, soil sampling and, if relevant, ground water testing, and invasive sampling of building
materials) with respect to the Property. Buyer hereby agrees to indemnify and hold the applicable
Seller (and the applicable Seller’s agents, advisors, partners, members, owners, officers and
directors, as the case may be and the applicable Hospital and Tenant) harmless from any physical
damages and personal injury arising out of and directly caused by inspections and investigations by
Buyer or its agents or independent contractors, but in no event shall the indemnity of this
Section 3.1 include the discovery of pre-existing conditions disclosed by Buyer’s
investigations. Notwithstanding any other provision in this Agreement to the contrary, this
indemnification shall survive the termination of or Closing under this Agreement.

3.2 Due Diligence Period. Buyer shall have from the Effective Date until 5:00 p.m.
(California time) on the date that is forty five (45) days after the Effective Date (such period
being the “Due Diligence Period”) subject to, and in accordance with Section 3.1,
to physically inspect the Property, review the economic data, conduct appraisals, perform
examinations of the physical condition of the Improvements, examine the Property for the presence
of Hazardous Materials (as defined below), and to otherwise (subject to terms of applicable Ground
Leases and Tenant Leases) conduct such due diligence review of the Property and all of the items to
be furnished by Seller to Buyer pursuant to Section 3.3, and all records and other
materials related thereto as Buyer deems appropriate, subject to the provisions of Section
9.22.

3.3 Items to be Provided by Seller. To the extent not previously provided by Sellers
to Buyer or Buyer’s counsel and to the extent within Sellers’ possession, no later than three
(3) Business Days after the Effective Date, the Sellers shall deliver to Buyer accurate and
materially complete copies of all of the information set forth on Exhibit “B” for each
Parcel (collectively, the “Property Information”); provided, however, if
this Agreement is terminated in accordance with the terms hereof, Buyer shall, at the Sellers’
option, either (a) return all Property Information and other documents delivered or made available
to Buyer by (or on behalf of) the Sellers, or (b) demonstrate to the Sellers’ reasonable
satisfaction that all Property Information and other documents delivered or made available to Buyer
by (or on behalf of) the Sellers have been destroyed.

3.4 Contracts. Buyer shall not be required to assume any Contract at Closing. As of
the Closing Date, each Seller, at such Seller’s expense, shall terminate all Contracts, except
those Contracts that Buyer elects to accept, in Buyer’s sole discretion, by providing to Sellers
written notification prior to the expiration of the Due Diligence Period of those Contracts Buyer
elects to assume. For the avoidance of doubt, Buyer’s failure to provide the written notice
described above shall be deemed an election not to assume any Contract.

3.5 Buyer’s Possible Early Termination. At any time prior to or on the expiration of
the Due Diligence Period, Buyer shall have the right to approve or disapprove in Buyer’s sole and
absolute discretion, the Property, the Property Information, or any other matter whatsoever
regarding the Property, by providing written notice to Seller disapproving the Property for
purposes of this Article 3 (“Disapproval Notice”). Unless Buyer provides Seller and
Escrow Agent with a written notice of its approval of the Property (“Approval Notice”)
prior to or on the expiration of the Due Diligence Period, this Agreement shall automatically
terminate at 5:00 p.m. (California time) on the last day of the Due Diligence Period and the
provisions of Sections 3.6 shall apply. Notwithstanding anything herein to the contrary,
an Approval Notice shall not be deemed to be a waiver by Buyer of any other rights of termination
it may have as set forth herein.

3.6 Consequences of Buyer’s Early Termination. Unless Buyer provides an Approval
Notice to Seller pursuant to Section 3.5, this Agreement shall immediately terminate upon
the expiration of the Due Diligence Period. If Buyer timely provides a Disapproval Notice to
Seller pursuant to Section 3.5, this Agreement shall immediately terminate upon the giving
of such notice. In the event of either such termination, the Deposit (and any interest accrued
thereon) shall immediately be returned to Buyer without any further action required from either
party and neither party shall have any continuing obligations hereunder, other than the provisions
of this Agreement that are expressly stated to survive the termination hereof.

ARTICLE 4

REPRESENTATIONS, WARRANTIES AND COVENANTS

4.1 Seller’s Representations. Each Seller represents and warrants severally to Buyer
as to itself and the portion of the Property owned, leased or otherwise held by such Seller (and
not to the other Sellers or the other portions of the Property, it being agreed that with respect
to the provisions of this Section 4.1, the representations and warranties of the Sellers
are several and not joint):

4.1.1 Carlsbad Seller, Hobbs Seller and Hope Seller are each a limited liability company
validly formed in the State of Delaware. Alice Seller, Lake Charles Seller, Lufkin Seller, Wharton
Seller and Victoria Seller are each a limited partnership validly formed in the State of Delaware.
Each Seller has full power and authority to enter into this Agreement, to perform this Agreement
and to consummate the transactions contemplated hereby. The execution, delivery and performance of
this Agreement and all documents contemplated hereby by such Seller has been duly and validly
authorized by all necessary action on the part of such Seller and all required consents and
approvals (other than the Lender Consent) have been duly obtained and will not result in a breach
of any of the terms or provisions of, or constitute a default under any indenture, agreement or
instrument to which such Seller is a party. This Agreement is a legal, valid and binding
obligation of such Seller, enforceable against such Seller in accordance with its terms, subject to
the effect of applicable bankruptcy, insolvency, reorganization, arrangement, moratorium or other
similar laws affecting the rights of creditors generally.

4.1.2 Each Seller has a valid leasehold interest in and to its respective Parcel, subject to
the applicable Tenant Lease, applicable Ground Lease, matters of record, and in the case of the
Hobbs Seller, the Hobbs Superior Leases. Except, and to the extent, as expressly provided in the
applicable Ground Lease, there are no outstanding rights of first refusal, rights of reverter or
options to purchase relating to the Property or any interest therein. To Sellers’ knowledge, there
are no unrecorded or undisclosed documents or other matters (other than those that would appear on
a survey) which affect title to the Property, except (i) the Ground Leases, (ii) Master Lease,
(iii) in the case of the Hobbs Parcel, the Hobbs Superior Leases, (iv) in the case of the Lufkin
Parcel, that certain Letter Agreement among Lufkin Seller, Lufkin Hospital, and Existing Lender,
dated as of December 29, 2006 (regarding a portion of the Lufkin Parcel that is to be released to
Lufkin Hospital) (the “Lufkin Side Letter Agreement”), (v) with respect to the Wharton
Parcel, that certain Easement for Ingress and Egress, between Predecessor Wharton Hospital and
Wharton Seller, and (vi) those items set forth on the attached Schedule 4.1.2. Since
becoming party to the applicable Ground Lease, each Seller has enjoyed the continuous and
uninterrupted quiet possession, use and operation of its applicable Parcel, without material
complaint or objection by any person.

4.1.3 Such Seller is not a “foreign person” within the meaning of Section 1445(f) of the
Internal Revenue Code of 1986, as amended (the “Code”).

4.1.4 Neither such Seller nor any affiliate of such Seller, and no partner, member,
shareholder or other equity owner of such Seller, and no employee, officer, director,
representative or agent of such Seller is a person or entity with whom United States persons or
entities are restricted from doing business under regulations of the Office of Foreign Asset
Control (“OFAC”) of the Department of the Treasury (including those named on OFAC’s
Specially Designated and Blocked Persons List) or under any statute, executive order (including,
without limitation, the September 24, 2001, Executive Order Blocking Property and Prohibiting
Transactions with Persons Who Commit, Threaten to Commit, or Support Terrorism), or other
governmental action, and is not and will not engage in any dealings or transactions or be otherwise
associated with such persons or entities.

4.1.5 No authorization, consent, or approval of any governmental authority (including courts)
is required for the execution and delivery by such Seller of this Agreement or the performance of
its obligations hereunder.

4.1.6 To Sellers’ knowledge, there are no actions, suits or proceedings pending, or threatened
against (i) any portion of the Property, or (ii) affecting any Seller, which if determined
adversely, may affect its ability to perform its obligations hereunder.

4.1.7 Such Seller has not (i) made a general assignment for the benefit of creditors, (ii)
filed any voluntary petition in bankruptcy or suffered the filing of an involuntary petition by
such Seller’s creditors, (iii) suffered the appointment of a receiver to take possession of all or
substantially all of such Seller’s assets, (iv) suffered the attachment or other judicial seizure
of all, or substantially all, of such Seller’s assets, (v) admitted in writing its inability to pay
its debts as they come due, or (vi) made an offer of settlement, extension or composition to its
creditors generally.

4.1.8 Neither the execution, delivery or performance of this Agreement nor compliance herewith
(i) conflicts or will conflict with or results or will result in a breach of or constitutes or will
constitute a default under (a) the articles of incorporation and by-laws or other organization
certificate and/or partnership or operating agreement of such Seller, or (b) any law or any order,
writ, injunction or decree of any court or governmental authority, or (ii) results in the creation
or imposition of any lien, charge or encumbrance upon its property pursuant to any such agreement
or instrument.

4.1.9 Such Seller has not entered into any material commitments or agreements with any
governmental authorities or agencies affecting the Property except as provided in the Property
Information.

4.1.10 There is no pending condemnation proceeding relating to the Property. Such Seller has
not received any written notice from any governmental agency or official to the effect that any
condemnation proceeding is threatened or contemplated, and, to Seller’s Knowledge, there is no such
threatened or contemplated proceeding relating to the Property.

4.1.11 Such Seller has delivered or made available to Buyer a complete copy of the Tenant
Leases, and there have been no modifications to the Tenant Leases other than as set forth in
Schedule 1.1.3 hereto. Each of such Tenant Leases is in full force and effect. Such
Seller is “landlord” or “lessor” under the Tenant Leases related to its Parcel and is entitled to
assign to Buyer, without the consent of any party (other than Existing Lender under the Existing
Loan), the Tenant Leases related to its Parcel. Such Seller is not, nor, to such Seller’s
Knowledge, is any Tenant (except as set forth on Schedule 4.1.11 hereto), in default under
its respective Tenant Lease. To Sellers’ Knowledge, there exists no condition or circumstance or
written notice of any condition or circumstance which, with the passage of time, would constitute a
default by any Seller or any Tenant under any of the Tenant Leases. To Sellers’ Knowledge, no
Tenant has asserted any claim of offset or other defense in respect of such Tenant’s or such
Seller’s obligations under its respective Tenant Lease. There are no pending or incomplete tenant
improvements or unpaid tenant improvement costs or rent concessions or leasing commissions with
respect to any applicable Tenant Lease. To Sellers’ Knowledge, no Tenant has (i) filed for
bankruptcy or taken any similar debtor-protection measure, (ii) defaulted under its Tenant Lease
(except as set forth on Schedule 4.1.11 hereto), (iii) discontinued operations at the
portion of the Property owned or leased by such Seller, or (iv) given notice to such Seller (or, to
such Seller’s Knowledge, any other party) of its intention to do any of the foregoing.

4.1.12 Such Seller has delivered or made available to Buyer a complete copy of the Ground
Leases to which such Seller is party or subject. Each Parcel is ground leased pursuant to the
Ground Lease by the applicable hospital to the respective Seller as set forth in the Recitals to
this Agreement, and there have been no modifications of the Ground Leases other than as described
in the Recitals to this Agreement. Such Ground Lease is in full force and effect. Such Seller is
“tenant” or “lessee” under the Ground Lease related to its Parcel and is entitled to assign to
Buyer, without the consent of any party (other than the Ground Lessor of such Ground Lease, and the
Existing Lender under the Existing Loan), the Ground Lease related to its Parcel. Neither such
Seller, nor to such Seller’s Knowledge, the applicable Ground Lessor, is in default under such
Ground Lease. To Sellers’ Knowledge, there exists no condition or circumstance or written notice
of any condition or circumstance which, with the passage of time, would constitute a default by any
Seller or any Ground Lessor under such Ground Leases. There are no pending or incomplete tenant
improvements or unpaid tenant improvement costs or rent concessions or leasing commissions with
respect to such Ground Lease. To such Seller’s Knowledge, the applicable Ground Lessor has not (i)
filed for bankruptcy or taken any similar debtor-protection measure, or (ii) defaulted under its
Ground Lease. The applicable Ground Lessor has not given notice of its intention to do either (i)
or (ii) of the foregoing sentence.

4.1.13 Such Seller has delivered or made available to Buyer true and complete copies of all
Contracts that are in effect as of the Effective Date (and, as of Closing, all Contracts that Buyer
is assuming pursuant to the terms of this Agreement). To Sellers’ knowledge, there are no defaults
by Sellers and by any other party to such Contract under any such Contract that has not been (or
will not by Closing be) cured.

4.1.14 Such Seller has not received any written notice from, and to such Seller’s Knowledge,
there are no grounds for, any association, declarant or easement holder requiring the correction of
any condition with respect to the portion of the Property owned or leased by such Seller, or any
part thereof, by reason of a violation of any other restrictions or covenants recorded against such
portion of the Property.

4.1.15 To such Seller’s Knowledge, except as disclosed in the Property Information, there are
no material defects in the structural elements of the improvements. Such Seller has not received
any written notice from, and to such Seller’s Knowledge there are no grounds for, any governmental
agency requiring the correction of any condition with respect to the portion of the Property owned
or leased by such Seller or any part thereof, by reason of a violation of any applicable federal,
state, county or municipal law, code, rule or regulation (including those respecting the Americans
With Disabilities Act), which has not been cured or waived.

4.1.16 Such Seller has not received any written notice from any governmental authority of its
intention to revoke any certificate of occupancy, license, or permit issued in connection with the
portion of the Property owned or leased by such Seller.

4.1.17 Except as disclosed in the Property Information applicable to the portion of the
Property owned or leased by such Seller, and solely with respect to the applicable Parcel, to such
Seller’s Knowledge, there are no Hazardous Materials stored on, incorporated into, located on,
present in or used on the Property in violation of, and requiring remediation under, any laws,
ordinances, statutes, codes, rules or regulations. For purposes of this Agreement, the term
“Hazardous Materials” shall mean any substance which is or contains: (i) any
“hazardous substance” as now or hereafter defined in Section 101(14) of the Comprehensive
Environmental Response, Compensation and Liability Act of 1980, as amended (42 U.S.C. Section 9601
et seq.) (“CERCLA”) or any regulations promulgated under CERCLA; (ii) any “hazardous
waste” as now or hereafter defined in the Recourse Conservation and Recovery Act (42 U.S.C.
Section 6901 et seq.) (“RCRA”) or regulations promulgated under RCRA; (iii) any substance
regulated by the Toxic Substances Control Act (15 U.S.C. Section 2601 et. seq.); (iv) gasoline,
diesel fuel or other petroleum hydrocarbons; (v) asbestos and asbestos containing materials, in any
form, whether friable or non-friable; (vi) polychlorinated biphenyls; (vii) radon gas: and
(viii) any additional substances or materials which are now or hereafter classified or considered
to be hazardous or toxic under any laws, ordinances, statutes, codes, rules, regulations,
agreements, judgments, orders and decrees now or hereafter enacted, promulgated, or amended, of the
United States, the state, the county, the city or any other political subdivision in which the
Property is located and any other political subdivision, agency or instrumentality exercising
jurisdiction over the owner of the Property, the Property or the use of the Property relating to
pollution, the protection or regulation of human health, natural resources or the environment, or
the emission, discharge, release or threatened release of pollutants, contaminants, chemicals or
industrial, toxic or hazardous substances or waste into the environment (including, without
limitation, ambient air, surface water, ground water or land or soil). Such Seller has not
received written notice that the portion of the Property owned or leased by such Seller or any
portion thereof contains any form of toxic mold. No treatment has been undertaken by such Seller
with respect to termite or similar infestation, fungi, or dry rot on the portion of the Property
owned or leased by such Seller other than normal periodic service, and to the best of such Seller’s
knowledge, there is no damage to any portion of the Property owned or leased by such Seller or any
portion thereof from termite or similar infestation, fungi or dry rot.

4.1.18 To Sellers’ knowledge, there are no claims pending or unpaid bills which would result
in the creation of any lien on the portion of the Property owned or leased by such Seller for any
improvements completed or in progress, including, but not limited to, water, sewage, street paving,
electrical or power improvements. To Sellers’ knowledge, there are no delinquent bills or claims
in connection with any repair of such portion of the Property or other work or material purchased
in connection with such portion of the Property which will not be paid by or at the Closing.

4.1.19 Such Seller has not received any written notice relating to the operation of the
portion of the Property owned or leased by such Seller from any agency, board, commission, bureau
or other instrumentality of any government, whether federal, state or local, that, such Seller is
not in compliance in all material respects with all applicable statutes, rules, regulations and
requirements of all federal, state and local commissions, boards, bureaus and agencies having
jurisdiction over such Seller and the Land and Improvements.

4.1.20 Each Parcel is master leased by the applicable Seller to the respective hospital as set
forth on Schedule 1.1.3.

4.1.21 Such Seller shall immediately notify Buyer, in writing, of any event or condition known
to such Seller which occurs prior to the Closing, which causes a material change in the facts
relating to, or the truth of, any of the representations or warranties.

4.1.22 All information given by Sellers to Buyer in this Agreement or in connection with the
transactions contemplated hereunder shall be true and accurate in every material respect as of the
date hereof and at the Closing, and such Sellers shall not have failed to disclose any material
fact to Buyer necessary to make the statements herein or otherwise provided in connection with the
transactions contemplated hereunder not misleading and Sellers have no knowledge or information of
any material facts, circumstances, or conditions that are inconsistent with the representations and
warranties contained herein. Sellers shall promptly inform Buyer in writing if there occurs any
(i) material adverse change in the condition, financial or otherwise, of the portion of the
Property owned or leased by such Seller, or the operation thereof, at any time prior to the Closing
or (ii) if any information, document, agreement or other material delivered to Buyer is amended,
superseded, modified or supplemented.

4.1.23 All of the Loan Documents to be assumed by Buyer (in whole or in part) are set forth on
Exhibit “J”, and Sellers have provided (or will have provided pursuant to Section
3.3) complete copies of same to Buyer as part of the Property Information. None of such Loan
Documents to be assumed by Buyer (in whole or in part) have been modified except as disclosed on
Exhibit “J”. Sellers have not received any written notice from Existing Lender of any
default by Sellers under the Loan Documents, and, to Sellers’ Knowledge, there has been no default
by Existing Lender or any other party (excluding Sellers and Existing Guarantor, it being agreed
and understood by Buyer that with respect to Sellers and Existing Guarantor, Sellers are only
representing that they have not received any written notice of default by Sellers under the Loan
Documents as provided in this Section 4.1.23).

As used herein, the phrase “Seller’s Knowledge” or “Sellers’ Knowledge” (or words of similar import
or meaning) shall be deemed to mean, with respect to the applicable Seller, the actual knowledge of
Douglas Ray, Jonathan Winer and/or Malika Basheer. Sellers represent and warrant to Buyer that
Douglas Ray and Jonathan Winer are senior executives of Seavest, Malika Basheer is an
asset/portfolio manager at Seavest, and all three (3) persons are actively involved with the
Property.

4.2 Buyer’s Representations. Buyer makes the following representations and warranties
to Sellers (which, at closing, shall also be true and correct as to any Buyer Subsidiaries with
respect to any closing documents entered into by Buyer Subsidiaries):

4.2.1 Buyer is a duly formed and validly existing limited liability company in good standing
under the laws of the State of Delaware.

4.2.2 Buyer has full right, power and authority and is duly authorized to enter into this
Agreement and to perform each of these covenants on it part to be performed hereunder and to
execute and deliver and to perform its obligations under all documents required to be executed and
delivered by it pursuant to this Agreement and this Agreement constitutes the valid and legally
binding obligation of Buyer, enforceable against Buyer in accordance with its terms.

4.2.3 Buyer is not a “foreign person” within the meaning of Section 1445(f) of the Code.

4.2.4 Neither Buyer nor, to Buyer’s knowledge, any person or entity that controls the
management and policies of Buyer or owns directly or indirectly more than fifty percent (50%) of
Buyer, and, to Buyer’s knowledge, no employee, officer, director, representative or agent of Buyer
is a person or entity with whom United States persons or entities are restricted from doing
business under regulations of OFAC (including those named on OFAC’s Specially Designated and
Blocked Persons List) or under any statute, executive order (including, without limitation, the
September 24, 2001, Executive Order Blocking Property and Prohibiting Transactions with Persons Who
Commit, Threaten to Commit, or Support Terrorism), or other governmental action, and, to Buyer’s
knowledge, is not and will not engage in any dealings or transactions or be otherwise associated
with such persons or entities.

4.2.5 No authorization, consent, or approval of any governmental authority (including courts)
is required for the execution and delivery by Buyer of this Agreement or the performance of its
obligations hereunder.

4.2.6 There are no actions, suits or proceedings pending, or, to Buyer’s knowledge, threatened
against or affecting Buyer, which if determined adversely, may affect its ability to perform its
obligations hereunder.

4.2.7 Buyer has not (i) made a general assignment for the benefit of creditors, (ii) filed any
voluntary petition in bankruptcy or suffered the filing of an involuntary petition by any of its
creditors, (iii) suffered the appointment of a receiver to take possession of all or substantially
all of its assets, (iv) suffered the attachment or other judicial seizure of all, or substantially
all, of its assets, (v) admitted in writing its inability to pay its debts as they come due, or
(vi) made an offer of settlement, extension or composition to its creditors generally.

4.2.8 Neither the execution, delivery or performance of this Agreement nor compliance herewith
(i) conflicts or will conflict with or results or will result in a breach of or constitutes or will
constitute a default under (a) the articles of incorporation and by-laws or other organization
certificate and/or partnership or operating agreement of Buyer, or (b) any law or any order, writ,
injunction or decree of any court or governmental authority, or (ii) results in the creation or
imposition of any lien, charge or encumbrance upon its property pursuant to any such agreement or
instrument.

4.2.9 Buyer is an affiliate of Grubb & Ellis Healthcare REIT II, Inc.

4.3 Survivability of Representations and Warranties. The representations and
warranties of the Sellers and Buyer set forth in this Agreement are remade as of the Closing Date
and shall not be deemed to be merged into or waived by the instruments of Closing and shall survive
for a period of six (6) months after the Closing Date (the “Survival Period”).

4.4 Property Conveyed “As Is”. Except as may be expressly represented in this
Agreement, in the exhibits attached hereto and in the documents to be executed and delivered by the
Sellers (or Seller’s counsel or other representatives) to Buyer at or prior to Closing (but
excluding any documents delivered prior to the Effective Date by Sellers to Buyer for which Sellers
have no liability and make no representations or warranties, except to the extent otherwise
incorporated herein) (collectively, the “Representation Documents”), Buyer agrees that the
Property shall be sold, and Buyer shall accept the Property at Closing on an “as-is where-is”
basis, including, without limitation, any and all any construction, latent or patent defects in the
Property, and subject to any and all environmental conditions thereat or the presence of any
Hazardous Materials located in, at, about or under the Property, or for any and all claims or
causes of action (actual or threatened) based upon, in connection with or arising out of any law,
statute, rule or regulation governing the use, handling, storage or disposition of Hazardous
Materials. Buyer has not relied and is not relying upon any representations or warranties (other
than the representations and warranties of the Sellers expressly set forth in the Representation
Documents), or upon any statements made in any informational materials with respect to the Property
provided by the Sellers or any other person or entity, including any broker, or any member,
manager, employee, agent, attorney or other person representing or purporting to represent the
Sellers or any broker. Without limitation of the foregoing, Buyer specifically acknowledges and
agrees that it has assumed the risk of changes in the condition of the Property between the
Effective Date and the Closing Date, other than as set forth in Section 5.4.12, and no
adverse change in such condition shall grant Buyer any right to terminate this Agreement or to
obtain any damages against the Sellers, other than as set forth in Section 5.4.12. IN
ADDITION TO, AND WITHOUT LIMITATION OF THE FOREGOING, EXCEPT AS OTHERWISE EXPRESSLY SET FORTH IN
THE REPRESENTATION DOCUMENTS, THE SELLERS MAKE NO WARRANTY, EXPRESS, IMPLIED, STATUTORY, OR BY
OPERATION OF LAW, AS TO THE QUANTITY, QUALITY, MERCHANTABILITY, TITLE, MARKETABILITY, FITNESS, OR
SUITABILITY FOR A PARTICULAR PURPOSE OF THE PROPERTY OR ANY COMPONENT THEREOF, AND THE PROPERTY AND
EACH COMPONENT THEREOF ARE SOLD IN AN “AS IS”, “WHERE IS” CONDITION, WITH ALL FAULTS. BY EXECUTING
THIS AGREEMENT, EXCEPT AS SET FORTH IN THE REPRESENTATION DOCUMENTS, BUYER AFFIRMS AND AGREES THAT:
(A) BUYER HAS NOT RELIED ON THE SELLERS’ SKILL OR JUDGMENT TO SELECT OR FURNISH THE PROPERTY OR ANY
COMPONENT THEREOF FOR ANY PARTICULAR PURPOSE, (B) THE SELLERS MAKE NO WARRANTY THAT THE PROPERTY OR
ANY COMPONENT THEREOF ARE FIT FOR ANY PARTICULAR PURPOSE, (C) THERE ARE NO REPRESENTATIONS OR
WARRANTIES, EXPRESS, IMPLIED, STATUTORY, OR BY OPERATION OF LAW, WITH RESPECT TO THE PROPERTY OR
ANY COMPONENT THEREOF, (D) UPON CLOSING, BUYER HAS BEEN GIVEN THE OPPORTUNITY TO INSPECT THE
PROPERTY AND EACH COMPONENT THEREOF AND HAS DETERMINED TO PURCHASE THE PROPERTY AND EACH COMPONENT
THEREOF BASED ON SUCH INSPECTION, AND (E) UPON CLOSING, BUYER AND/OR THE APPLICABLE BUYER
SUBSIDIARIES SHALL ASSUME THE RISK THAT ADVERSE MATTERS, INCLUDING, BUT NOT LIMITED TO,
CONSTRUCTION DEFECTS AND ADVERSE PHYSICAL CONDITIONS, MAY NOT HAVE BEEN REVEALED BY BUYER’S
INVESTIGATIONS, AND BUYER AND BUYER SUBSIDIARIES, ON CLOSING, SHALL BE DEEMED TO HAVE WAIVED,
RELINQUISHED, AND RELEASED THE SELLERS FROM AND AGAINST ANY AND ALL CLAIMS, DEMANDS, CAUSES OF
ACTION (INCLUDING, WITHOUT LIMITATION, CAUSES OF ACTION IN TORT, LOSSES, DAMAGES, LIABILITIES,
COSTS, AND EXPENSES (INCLUDING, WITHOUT LIMITATION, ATTORNEYS’ FEES AND COURT COSTS) OF ANY AND
EVERY KIND OR CHARACTER, KNOWN OR UNKNOWN, THAT BUYER MIGHT HAVE ASSERTED OR ALLEGED AGAINST THE
SELLERS AT ANY TIME BY REASON OF OR ARISING OUT OF ANY LATENT OR PATENT CONSTRUCTION DEFECTS OR
PHYSICAL CONDITIONS, VIOLATIONS OF ANY APPLICABLE LAWS AND ANY AND ALL OTHER ACTS, OMISSIONS,
EVENTS, CIRCUMSTANCES, OR MATTERS REGARDING THE PROPERTY.

4.5 Seller Covenants Prior to Closing.

4.5.1 Leasing Activities. From and after the Effective Date and prior to the
expiration of the Due Diligence Period, (a) if any Seller shall consent to any sublease under a
Tenant Lease (to the extent such Seller’s consent is required under the Tenant Lease), or receive
notification of any sublease, or amend or otherwise modify any Tenant Lease or Ground Lease, and/or
(b) if any Seller shall enter into a new ground lease or tenant lease because any Tenant Lease or
Ground Lease expires or is terminated in accordance with its terms (including, without limitation,
due to a default by the applicable Tenant or Seller or a right of termination of the applicable
Tenant set forth therein), then Sellers shall, in each case, promptly provide a copy thereof to
Buyer. If Buyer receives any of such copies less than five (5) Business Days prior to the
expiration of the Due Diligence Period then the Due Diligence Period shall be extended on a
day-for-day basis so that Buyer is given five (5) Business Days from receipt of such copies to
review such new sublease, tenant lease or ground lease (and in the case of such extension, the end
of the term of the “Due Diligence Period” shall thereafter refer to such extended date). From and
after the expiration of the Due Diligence Period, Sellers shall not consent to any sublease under a
Lease (to the extent such Seller’s consent is required under the Tenant Lease) or enter into, or
amend or modify any Tenant Lease or Ground Lease, without the prior written consent of Buyer, which
consent may be given or withheld in Buyer’s sole discretion. Failure of Buyer to expressly
withhold consent in a writing delivered to Sellers, within seven (7) Business Days of receipt of
request for consent, shall be deemed Buyer’s consent to such request. From and after the Effective
Date, Sellers shall copy (or “blind” copy) Buyer on any and all correspondence received from or
sent to Tenants, Ground Lessors, or subtenants regarding the Tenant Leases, Ground Leases, and
subleases (as applicable) at the written notice address below.

4.5.2 Property Contracts. No Seller shall, from and after the Effective Date, enter
into any new Contract that will not be terminated by the Closing, or any modifications, renewals or
terminations of any existing Contracts that will survive Closing, without the written consent of
Buyer, which consent may be given or withheld in Buyer’s sole discretion. Effective at Closing,
the Sellers shall terminate, at such Seller’s expense, any Contract that Buyer does not elect to
assume pursuant to Section 3.4.

4.5.3 Conducting Business. Other than as permitted under Section 4.5.1 above
(provided that Section 4.5.1 shall not be deemed to permit any Seller to take or fail to take any
action under any Ground Lease or Tenant Lease that is reasonably likely to result in a default
pursuant to such Ground Lease or Tenant Lease), at all times prior to Closing, the Sellers shall
continue to (i) conduct their respective business with respect to the Property in the same manner
in which said business has been heretofore conducted and (ii) insure the Property substantially as
it is currently insured by the Sellers and in any event it shall, or shall cause the Tenants to,
insure the Property in accordance with the requirements of the Existing Loan.

4.5.4 Encumbrances. Other than as permitted under Section 4.5.1 above (provided that
Section 4.5.1 shall not be deemed to permit any Seller to take or fail to take any action under any
Ground Lease or Tenant Lease that is reasonably likely to result in a default pursuant to such
Ground Lease or Tenant Lease), at all times prior to Closing, no Seller shall sell, mortgage
(excluding the Existing Loan), pledge, encumber, hypothecate or otherwise transfer or dispose of
all or any part of the Property or any interest therein without the prior written consent of Buyer,
which may be given or withheld in Buyer’s sole discretion; and no Seller shall consent to, approve
or otherwise take any action with respect to zoning or any other governmental rules or regulations
presently applicable to all or any part of the Property.

4.5.5 Intentionally Omitted.

4.5.6 Compliance with Laws and Regulations. At all times prior to Closing, no Seller
shall knowingly take any action that would result in a failure to comply in any material respects
with all applicable statutes, rules, regulations and requirements of all federal, state and local
commissions, boards, bureaus and agencies applicable to the Real Property, it being understood and
agreed that prior to Closing that the Sellers will have the right to contest any of the same in
good faith.

4.5.7 Cooperation with S-X 3-14 Audit. The Sellers acknowledge that it is Buyer’s
intention that the ultimate acquirer(s) of the Property will be affiliated with a publicly
registered company (“Registered Company”).  The Sellers acknowledge that they have been
advised that if such acquirer(s) is (are) affiliated with a Registered Company, such Registered
Company (and such acquirer(s)) are required to make certain filings with the Securities and
Exchange Commission (the “SEC Filings”) that relate to the most recent pre-acquisition
fiscal year (the “Audited Year”) and the current fiscal year through the date of
acquisition (the “Stub Period”) for the Property. To assist Buyer and Registered Company
in preparing the SEC Filings, the Sellers covenant and agree no later than ten (10) Business Days
after the Effective Date (the “Delivery Date”), each Seller shall provide Buyer and the
Registered Company with the following information (to the extent such items are not duplicative of
items contained in the Property Information): (i) access to bank statements for the Audited Year
and Stub Period; (ii) operating statements for the Audited Year and Stub Period; (iii) access to
the general ledger for the Audited Year and Stub Period; (iv) a schedule of monthly cash balances
listed in the general ledger; (v) access to invoice for expenses in the Audited Year and Stub
Period; (vi) accounts payable ledger and accrued expense reconciliations; (vii) check register for
the 3-months following the Audited Year and Stub Period; and (viii) copies of accounts receivable
aging as of the end of the Audited Year and Stub Period related to the Hope Ground Lease along with
an explanation for all accounts over 30 days past due as of the end of the Audited Year and Stub
Period ((i) – (viii), collectively, “Accounting Records”)). Notwithstanding the foregoing,
each Seller’s obligation to provide the Buyer with Accounting Records pursuant to the immediately
preceding sentence is limited to providing those Accounting Records that were prepared by Seller in
the ordinary course of business in connection with the Property in their present form as of the
date of this Agreement. The Sellers are under no obligation to prepare any Accounting Records that
are not in existence as of the date of this Agreement or to update or revise such Accounting
Records after the Delivery Date. No such Seller makes any additional representations and
warranties regarding the Accounting Records or the adequacy of the Accounting Records for any
particular purpose, except as otherwise provided in this Agreement (including, without limitation,
any representations or warranties set forth in Article 4 of this Agreement and any
representations or warranties made in connection with the representation letter in the form
attached hereto as Exhibit “G” and/or the audit request letter in the form attached hereto
as Exhibit “H”). In addition, no later than five (5) Business Days prior to the Closing
Date, each Seller shall provide to Buyer (1) signed representation letter in the form attached
hereto as Exhibit “G”, (2) a signed audit request letter in the form attached hereto as
Exhibit “H” and (3) a signed audit response letter from such Seller’s attorney in the form
attached hereto as Exhibit “I”.

4.5.8 Continued Performance. Other than as permitted under Section 4.5.1 above
(provided that Section 4.5.1 shall not be deemed to permit any Seller to take or fail to take any
action under any Ground Lease or Tenant Lease that is reasonably likely to result in a default
pursuant to such Ground Lease or Tenant Lease), no Seller will take or cause to be taken any action
or fail to perform any obligation which would cause any of the representations or warranties
contained in this Agreement to be untrue in any material respect as of the Closing Date. Further,
the Sellers shall immediately notify Buyer, in writing, of any event or condition of which Seller
has actual knowledge that occurs prior to the Closing Date and causes, in any material respect, a
change in the facts relating to, or the accuracy of, any of the representations or warranties of
the Sellers contained in this Agreement.

4.6 Intentionally Omitted.

4.7 Buyer’s Covenants Prior to Closing.

4.7.1 Compliance with Existing Lender Requirements. Subject to any Buyer Termination
Rights (which if exercised by Buyer would negate Buyer’s requirement to comply with this
Section 4.7.1 with respect to the specific Non-Purchased Parcel(s), as applicable), Buyer
shall comply with the reasonable requirements of the Existing Lender with respect to the Loan
Assumption, including, without limitation, perform the obligations set forth in Section
1.6.3.

4.7.2 Notices to Sellers. Buyer shall give Sellers notice prior to making contact
with Ground Lessors, Tenants, any sub-tenants of Tenants, parent companies of any Ground Lessor,
Tenant, and sub-tenants of Tenants, third-parties employed directly by Seavest, or any counsel to
the foregoing. Sellers shall have the right to participate in any communication with any of the
aforementioned parties.

4.7.3 Third Party Contacts. Buyer shall provide advance notice to Sellers prior to
making contact with the Existing Lender, or any counsel to the foregoing.

4.7.4 Continued Performance. Other than as permitted under Section 4.5.1 above
(provided that Section 4.5.1 shall not be deemed to permit any Seller to take or fail to take any
action under any Ground Lease or Tenant Lease that is reasonably likely to result in a default
pursuant to such Ground Lease or Tenant Lease), Buyer shall not take or cause to be taken any
action or fail to perform any obligation which would cause any of the representations or warranties
contained in this Agreement to be untrue in any material respect as of the Closing Date. Further,
Buyer shall immediately notify the Sellers, in writing, of any event or condition of which Buyer
has actual knowledge that occurs prior to the Closing Date and causes, in any material respect, a
change in the facts relating to, or the accuracy of, any of the representations or warranties of
Buyer contained in this Agreement.

ARTICLE 5

CLOSING

5.1 Escrow Agent. Closing shall occur through the escrow (the “Escrow”)
opened with Escrow Agent. Escrow Agent is designated, authorized and instructed to act as Escrow
Agent pursuant to the terms of this Agreement.

5.2 Escrow Instructions; Opening of Escrow. This Agreement shall constitute escrow
instructions to Escrow Agent. The parties shall execute any additional escrow instructions
reasonably required by Escrow Agent after the Effective Date to consummate the transaction provided
for herein prior to Closing; provided, however, such additional escrow instructions
shall not modify the provisions of this Agreement, unless such instructions (i) clearly identify
the specific provisions being modified, (ii) state the modification in full, and (iii) are signed
by Sellers, Buyer and Escrow Agent. Sellers and Buyer shall open Escrow by delivering an executed
original of this Agreement (both executed by Buyer and the Sellers) to Escrow Agent (“Opening
of Escrow”). Upon receipt of this Agreement, Escrow Agent shall acknowledge the Opening of
Escrow and agree to act as the Escrow Agent hereunder by executing and delivering originals of this
Agreement to Sellers and Buyer.

5.2.1 Escrow Agent shall hold the Deposit and the Post-Closing Escrow Amount and all interest
accrued thereon and shall dispose of the same only in accordance with the following provisions.

(a) Prior to Buyer’s delivery of the Approval Notice, the Deposit (or the Applicable
Portion of the Deposit, as the case may be) shall be immediately returned to Buyer in
accordance with this Agreement.

(b) Subsequent to Buyer’s delivery of the Approval Notice to Sellers and Escrow Agent,
Escrow Agent shall deliver the Deposit (or the Applicable Portion of the Deposit, as the
case may be) to Sellers or Buyer, as the case may be, as follows:

(i) to Sellers, upon Closing under the Purchase Agreement; or

(ii) to Sellers or Buyer as designated by an instruction letter jointly
executed by both Sellers and Buyer; or

(iii) to Sellers, after receipt of Sellers’ demand in which Sellers certify
that Sellers are entitled to the Deposit (or the remaining Applicable Portion of the
Deposit, as the case may be) in accordance with this Agreement because Buyer has
defaulted under this Agreement and has not cured such default after any applicable
notice and any applicable cure period (specifying in reasonable detail the nature of
the default by Buyer and the Section in this Agreement entitling Sellers to the
Deposit (or the remaining Applicable Portion of the Deposit, as the case may be)
(and, in the case of a default, evidence of delivery of any required default
notices)); but Escrow Agent shall not honor Sellers’ demand until more than five (5)
Business Days after Escrow Agent has given a copy of Sellers’ demand to Buyer in
accordance with Section 5.2.2 of this Agreement, nor thereafter if Escrow
Agent receives a Notice of Objection (as defined below) from Buyer as provided for
in said Section 5.2.2 within such five (5) Business Day period; or

(iv) to Buyer, after receipt of Buyer’s demand in which Buyer certifies that
Buyer is expressly entitled to the Deposit (or the Applicable Portion of the
Deposit, as the case may be) in accordance with this Agreement because a Seller has
defaulted under this Agreement and has not cured such default after any applicable
notice and any applicable cure period or Buyer had the express right to terminate
this Agreement (specifying in reasonable detail the nature of the default by a
Seller or Buyer’s right to terminate and the Section in this Agreement entitling
Buyer to the Deposit (or the Applicable Portion of the Deposit, as the case may
be)); but Escrow Agent shall not honor the Buyer’s demand until more than five (5)
Business Days after Escrow Agent has given a copy of Buyer’s demand to Sellers in
accordance with Section 5.2.2 of this Agreement, nor thereafter if Escrow
Agent receives a Notice of Objection from Sellers as provided for in said
Section 5.2.2 within such five (5) Business Day period.

(v) Upon delivery by Escrow Agent of the Deposit (or the Applicable Portion of
the Deposit, as the case may be) and accrued interest thereon in accordance with
this Agreement, Escrow Agent shall be relieved of all liability hereunder as it
relates to the Deposit (or the Applicable Portion of the Deposit, as the case may
be) and interest accrued thereon (but not as it relates to the Post-Closing Escrow
Amount or any remaining portion of the Deposit) and, with respect to the Deposit (or
the Applicable Portion of the Deposit, as the case may be) and accrued interest
thereon, Escrow Agent shall deliver the Deposit (or the Applicable Portion of the
Deposit, as the case may be) and accrued interest thereon at the election of the
party entitled to receive the same by (i) a good, unendorsed check of Escrow Agent
payable to the order of such party, or (ii) a bank wire transfer to an account
designated by such party.

(c) Escrow Agent shall deliver the Post-Closing Escrow Amount (or such remaining
portion thereof) to Sellers or Buyer, as the case may be, as follows:

(i) to Sellers or Buyer as designated by an instruction letter jointly executed
by both Sellers and Buyer; or

(ii) to Sellers, after receipt of Sellers’ demand in which Sellers certify that
Sellers are expressly entitled to the Post-Closing Escrow Amount (or remaining
portion thereof) in accordance with Section 6.2.2 of this Agreement (specifying in
reasonable detail the reason Sellers are entitled to the Post-Closing Escrow
Amount); but Escrow Agent shall not honor Sellers’ demand until more than five (5)
Business Days after Escrow Agent has given a copy of Sellers’ demand to Buyer in
accordance with Section 5.2.2 of this Agreement, nor thereafter if Escrow
Agent receives a Notice of Objection from Buyer as provided for in said Section
5.2.2 within such five (5) Business Day period; or

(iii) to Buyer, after receipt of Buyer’s demand in which Buyer certifies that
Buyer is expressly entitled to the Post-Closing Escrow Amount (or portion thereof)
in accordance with Section 6.2.2 of this Agreement (specifying in reasonable
detail the reason Buyer is entitled to the Post-Closing Escrow Amount (or portion
thereof)); but Escrow Agent shall not honor the Buyer’s demand until more than five
(5) Business Days after Escrow Agent has given a copy of Buyer’s demand to Sellers
in accordance with Section 5.2.2 of this Agreement, nor thereafter if Escrow
Agent receives a Notice of Objection from Sellers as provided for in said
Section 5.2.2 within such five (5) Business Day period.

(iv) Upon delivery by the Escrow Agent of the Post-Closing Escrow Amount and
accrued interest thereon in full in accordance with this Agreement, Escrow Agent
shall be relieved of all liability hereunder as it relates to the Post-Closing
Escrow Amount and interest thereon (but not as it relates to the Deposit and accrued
interest on the Deposit) and, with respect to the Post-Closing Escrow Amount, Escrow
Agent shall deliver the Post-Closing Escrow Amount (or such portion thereof) and the
accrued interest thereon at the election of the party entitled to receive the same
by (i) a good, unendorsed check of Escrow Agent payable to the order of such party,
or (ii) a bank wire transfer to an account designated by such party.

5.2.2 Within three (3) Business Days after receipt of a written demand from Sellers or Buyer
under Section 5.2.1(b)(iii) or (iv) or under Section 5.2.1(c)(ii) or (iii) above,
Escrow Agent shall send a copy of such demand to the other party. Within five (5) Business Days
after the date of receiving same, but not thereafter, the other party may object to delivery of the
Deposit or Post-Closing Escrow Amount, as the case may be, to the party making such demand by
giving a notice of objection (“Notice of Objection”) to Escrow Agent. Within three (3)
Business Days after receiving a Notice of Objection, Escrow Agent shall send a copy of such Notice
of Objection to the party who made the demand, and thereafter, Escrow Agent may elect to either:

(a) continue to hold the Deposit or Post-Closing Escrow Amount, as the case may be,
until Escrow Agent receives (x) a written agreement executed by Buyer and Sellers, or (y)
order of a court of competent jurisdiction directing the disbursement of the Deposit or
Post-Closing Escrow Amount, as the case may be, in which event Escrow Agent shall disburse
the Deposit or the Post-Closing Escrow Amount, as the case may be, in accordance with such
agreement or order; or

(b) take any and all actions as Escrow Agent deems necessary and desirable, in its
reasonable and appropriate discretion, to discharge and terminate its duties under this
Escrow Agreement, including, without limitation, depositing the Deposit or Post-Closing
Escrow Amount, as the case may be, into any court of competent jurisdiction and bringing any
action of interpleader or any other proceeding.

(c) Notwithstanding anything else contained in this Section 5.2.2 to the
contrary, Escrow Agent agrees to hold the Deposit or Post-Closing Escrow Amount, as the case
may be, and not take any action described in this Section 5.2.2 above, for at least
thirty (30) days after Escrow Agent’s receipt of a Notice of Objection, so that Sellers and
Buyer may attempt to reach agreement on how to proceed. In the event of any litigation
between Sellers and Buyer, Escrow Agent may deposit the Deposit or Post-Closing Escrow
Amount, as the case may be, with the clerk of the court in which such litigation is pending.
Upon the making of such deposit, Escrow Agent shall be relieved of its duties hereunder
with respect to the sums deposited in such court and shall have no liability thereafter to
any party whatsoever with respect to such sums so deposited.

5.3 Closing. Closing shall take place on the Closing Date, as the same may be
adjusted, provided all conditions precedent to Closing have been satisfied or duly waived by the
party or parties entitled to the benefit of such conditions precedent.

5.4 Conditions Precedent Favoring Buyer. In addition to any other conditions
precedent in favor of Buyer as may be expressly set forth elsewhere in this Agreement, Buyer’s
obligations under this Agreement (or with respect to the purchase of a specific Parcel, as
described below) are subject to the timely fulfillment of the conditions set forth in this
Section 5.4 on or before the Closing Date, or such earlier date as is set forth below.
Each condition may be waived in whole or in part only by written notice of such waiver from Buyer
to the Sellers.

5.4.1 The parties shall have obtained the Loan Consent, and Buyer, each Buyer Subsidiary (as
applicable), and the Existing Lender shall have entered into the Loan Assumption Documents, which
shall be in form and with substance reasonably acceptable to Buyer and in accordance with the terms
of this Agreement, and the Sellers shall have paid the Loan Assumption Related Costs, in each case
subject only to the Closing and otherwise in accordance with Section 1.6. Sellers and
Existing Guarantor shall have complied with all of the reasonable requirements of the Existing
Lender with respect to the Loan Consent, Loan Assumption, and the Loan Assumption Documents, in
each case subject only to Closing and otherwise in accordance with Section 1.6.

5.4.2 Each Seller performing and complying in all material respects with all of the terms of
this Agreement to be performed and complied with by Seller prior to or at the Closing.

5.4.3 In accordance with this Section 5.4.3, no later than five (5) Business Days
prior to the Closing Date, each Seller shall have obtained for each Parcel either (i) an estoppel
certificate from the Tenant of such Parcel in the form annexed hereto as Exhibit “C-1”
(each, a “Seller Proposed Tenant Estoppel”), or (ii) an estoppel certificate from each
Tenant in the form annexed hereto as Exhibit “C-2” (each a “Buyer Proposed Tenant
Estoppel”; and whichever of the Seller Proposed Tenant Estoppel or the Buyer Proposed Tenant
Estoppel Sellers obtain in accordance with this Section 5.4.3, the “Tenant
Estoppel”). Within five (5) business days of the Effective Date, Sellers shall deliver the
draft Buyer Proposed Tenant Estoppels to Buyer for Buyer’s review and approval, which approval
shall not be unreasonably withheld (it being agreed that if Buyer fails to object (specifying its
reasons) to any such Buyer Proposed Tenant Estoppel by the expiration of such five (5) Business Day
period, Buyer shall be deemed to have approved the form and substance of such Buyer Proposed Tenant
Estoppel). Within five (5) business days of Buyer’s approval (or deemed approval) of the Buyer
Proposed Tenant Estoppels, Sellers shall deliver the same to Tenants. Sellers and Buyer agree to
work in good-faith and cooperatively with the Tenants to timely reach agreement on the Buyer
Proposed Tenant Estoppels prior to the expiration of the Due Diligence Period; provided,
however, that Sellers shall have no obligation (express or implied) to obtain or make
efforts to obtain any Buyer Proposed Tenant Estoppels after the expiration of the Due Diligence
Period. In the event Sellers obtain a Buyer Proposed Tenant Estoppel (or Buyer approved variations
thereof) for any Parcel, Sellers shall have no obligation to obtain a Seller Proposed Tenant
Estoppel for such Parcel. In the event Sellers have not obtained any Buyer Proposed Tenant
Estoppel prior to the expiration of the Due Diligence Period, then Sellers shall have the right to
obtain a Seller Proposed Tenant Estoppel for such Parcel. No later than five (5) Business Days
prior to the date on which the Sellers intend to distribute the Seller Proposed Tenant Estoppels to
the Tenants for their completion, each Seller shall deliver the draft Seller Proposed Tenant
Estoppels to Buyer for Buyer’s review and approval, which approval shall not be unreasonably
withheld (it being agreed that if Buyer fails to object (specifying its reasons) to any such Seller
Proposed Tenant Estoppel by the expiration of such five (5) Business Day period, Buyer shall be
deemed to have approved the form and substance of such Seller Proposed Tenant Estoppel).
Notwithstanding anything herein to the contrary, the Tenant Estoppel shall be dated no earlier than
forty-five (45) days prior to Closing. Buyer agrees to accept any reasonable modifications to the
Seller Proposed Tenant Estoppel and/or Buyer Proposed Tenant Estoppel requested by any Tenants.
Notwithstanding anything else in this Section 5.4 to the contrary, Buyer shall have no right to
terminate this Agreement and Buyer must proceed to Closing if Sellers have failed to obtain a
Tenant Estoppel from only one (1) Tenant as of the Closing Date. If Sellers have failed to obtain
a Tenant Estoppel from only one (1) Tenant as of the Closing Date, then Buyer shall have the right
to either (a) acquire the Property as a whole (without any reduction in the Purchase Price), or (b)
terminate this Agreement as it relates solely to the Parcel with respect to which Sellers failed to
obtain a Tenant Estoppel and, subject to Sections 3.6, receive back the Applicable Portion
of the Deposit (and any interest accrued thereon) for such Parcel, in which event the Sellers and
Buyer shall have no further obligations to each other under this Agreement as it relates solely to
the applicable Parcel except those provisions which expressly survive the termination of this
Agreement.

5.4.4 Buyer not being required to pay any fee, premium or penalty in connection with the Loan
Assumption.

5.4.5 In accordance with this Section 5.4.5, no later than five (5) Business Days
prior to the Closing Date, each Seller shall have obtained for each Parcel either (i) an estoppel
certificate from the Ground Lessor of such Parcel in the form annexed hereto as Exhibit
“K-1” (each, a “Seller Proposed Ground Lease Estoppel”), or (ii) an estoppel
certificate from each Ground Lessor in the form annexed hereto as Exhibit “K-2” (each a
“Buyer Proposed Ground Lease Estoppel”; whichever of the Seller Proposed Ground Lease
Estoppel or the Buyer Proposed Ground Lease Estoppel Sellers obtain in accordance with this
Section 5.4.5, the “Ground Lease Estoppel”). Within five (5) business days of the
Effective Date, Sellers shall deliver the draft Buyer Proposed Ground Lease Estoppels to Buyer for
Buyer’s review and approval, which approval shall not be unreasonably withheld (it being agreed
that if Buyer fails to object (specifying its reasons) to any such Buyer Proposed Ground Lease
Estoppel by the expiration of such five (5) Business Day period, Buyer shall be deemed to have
approved the form and substance of such Buyer Proposed Ground Lease Estoppel). Within five (5)
business days of Buyer’s approval (or deemed approval) of the Buyer Proposed Ground Lease
Estoppels, Sellers shall deliver the same to Ground Lessors. Sellers and Buyer agree to work in
good-faith and cooperatively with the Ground Lessors to timely reach agreement on the Buyer
Proposed Ground Lease Estoppels prior to the expiration of the Due Diligence Period;
provided, however, that Sellers shall have no obligation (express or implied) to
obtain or make any efforts to obtain any Buyer Proposed Ground Lease Estoppels after the expiration
of the Due Diligence Period. In the event Sellers obtain a Buyer Proposed Ground Lease Estoppel
(or Buyer approved variations thereof) for any Parcel, Sellers shall have no obligation to obtain a
Seller Proposed Ground Lease Estoppel for such Parcel. In the event Sellers have not obtained any
Buyer Proposed Ground Lease Estoppel prior to the expiration of the Due Diligence Period, then
Sellers shall have the right to obtain a Seller Proposed Ground Lease Estoppel for such Parcel. No
later than five (5) Business Days prior to the date on which the Sellers intend to distribute the
Seller Proposed Ground Lease Estoppels to the Ground Lessors for their completion, each Seller
shall deliver the draft Seller Proposed Ground Lease Estoppel to Buyer for Buyer’s review and
approval, which approval shall not be unreasonably withheld (it being agreed that if Buyer fails to
object (specifying its reasons) to any such Seller Proposed Ground Lease Estoppel by the expiration
of such five (5) Business Day period, Buyer shall be deemed to have approved the form and substance
of such Seller Proposed Ground Lease Estoppel). The Ground Lease Estoppel shall be dated no
earlier than forty-five (45) days prior to Closing. Buyer agrees to accept any reasonable
modifications to the Seller Proposed Ground Lease Estoppel and/or Buyer Proposed Ground Lease
Estoppel requested by any Ground Lessors. Notwithstanding anything else in this Section 5.4 to the
contrary, Buyer shall have no right to terminate this Agreement and Buyer must proceed to Closing
if Sellers have failed to obtain a Ground Lease Estoppel from only one (1) Tenant as of the Closing
Date. If Sellers have failed to obtain a Ground Lease Estoppel from only one (1) Tenant as of the
Closing Date, then Buyer shall have the right to either (a) acquire the Property as a whole
(without any reduction in the Purchase Price), or (b) terminate this Agreement as it relates solely
to the Parcel with respect to which Sellers failed to obtain a Ground Lease Estoppel and, subject
to Sections 3.6, receive back the Applicable Portion of the Deposit (and any interest
accrued thereon) for such Parcel, in which event the Sellers and Buyer shall have no further
obligations to each other under this Agreement as it relates solely to the applicable Parcel except
those provisions which expressly survive the termination of this Agreement.

5.4.6 Each Seller shall have obtained the signature of its respective Ground Lessor to a
consent to assignment (collectively, the “Hospitals’ Consents”) substantially in the form
of Exhibit “O” hereto, evidencing such Ground Lessor’s consent to the assignment of the
applicable Ground Lease by such Seller to Buyer or its permitted affiliates or assignees designated
by Buyer.

5.4.7 Subject to Buyer’s obligation to proceed to Closing if only one (1) Ground Lessor
exercises its right of first refusal as further described in Section 1.7, no later than ten
(10) Business Days prior to the Closing Date, each Seller shall have obtained a waiver of the right
of first refusal under the applicable Ground Lease (if any) from each applicable Ground Lessor of
its rights, which are set forth in its Ground Lease, in substantially the same form as Exhibit
“N” attached hereto and otherwise reasonably acceptable to Buyer (collectively, the
“Hospital Waivers”). Without limiting the foregoing, such form shall be sufficient for the
Title Company to issue Title Policies without exception therefor.

5.4.8 No later than five (5) Business Days prior to the Closing Date, the Hobbs Seller shall
have obtained and delivered to Buyer copies of the (i) the Amendment to Attornment and
Non-Disturbance Agreement, substantially in the form attached hereto as Exhibit “P” (the
“Hobbs City Amendment”), including signatures from the City of Hobbs, New Mexico, Hobbs
Hospital, and Hobbs Seller, and (ii) the Amendment to Attornment and Non-Disturbance Agreement,
substantially in the form attached hereto as Exhibit “Q” (the “Hobbs EDC
Amendment”), including signatures from Economic Development Corporation of Lea County, New
Mexico, Hobbs Hospital, and Hobbs Seller. Buyer agrees to any reasonable modifications to the
Hobbs City Amendment and Hobbs EDC Amendment requested by City of Hobbs, Hobbs Hospital, and/or
Hobbs EDC.

5.4.9 Intentionally Omitted.

5.4.10 On the Closing Date, all of the representations and warranties of the Sellers set forth
herein shall be materially true, accurate and complete with respect to each Seller and the
Property.

5.4.11 At Closing, the Title Company shall issue to Buyer an ALTA 2006 extended coverage
Owner’s Policy of Title Insurance or its equivalent (“Title Policy”) insuring Buyer’s
leasehold interest in the Land and fee simple title to the Improvements for the sum equal to the
Purchase Price conforming to the Required Title Condition set forth in Article 2 and
containing such endorsements as Buyer shall have reasonably required, including, without
limitation, with respect to the Hobbs Parcel, a Title Policy insuring that the legal description
attached to the Hobbs Sub-Sub Ground Lease and the legal description attached as Exhibit “B” to the
Hobbs Sub Ground Lease describe the same parcel, and that such parcel is located within the area
leased by the City of Hobbs to Hobbs EDC pursuant to the Hobbs Ground Lease.

5.4.12 There shall have been no material adverse change in the physical condition of the
Parcels or Improvements from the end of the Due Diligence Period through the Closing Date.
Notwithstanding anything else in this Section 5.4.12 to the contrary, Buyer shall have no right to
terminate this Agreement and Buyer must proceed to Closing upon the occurrence of a material
adverse change in the physical condition of the Parcels and/or Improvements from the end of the Due
Diligence Period through the Closing Date if such material adverse change is attributable only to a
single Parcel. Upon the occurrence of a material adverse change in the physical condition of the
Improvements or Parcels from the end of the Due Diligence Period through the Closing Date which is
attributable only to a single Parcel, Buyer shall have the right to either (a) acquire the Property
as a whole (without any reduction in the Purchase Price) and receive an assignment from Sellers as
to any insurance proceeds payable to Sellers and relating to such material adverse change in the
physical condition of the subject Parcel, or (b) terminate this Agreement as it relates solely to
the Parcel for which there has been a material adverse change in the applicable portion of the
Property and, subject to Sections 3.6, receive back the Applicable Portion of the Deposit
(and any interest accrued thereon) for such Parcel (for which it elects to make such Parcel a
Non-Purchased Parcel), in which event the Sellers and Buyer shall have no further obligations to
each other under this Agreement as it relates solely to the applicable Parcel except those
provisions which expressly survive the termination of this Agreement. Notwithstanding anything
else in this Section 5.8.12 to the contrary, the release of the Released Property (as
defined in the Lufkin Side Letter Agreement) shall not constitute a material adverse change in the
physical condition of the Lufkin Parcel.

The conditions set forth in this Section 5.4 are solely for the benefit of Buyer and
may be waived only by Buyer. At all times Buyer has the right to waive any condition by giving
written notice of such waiver to the Sellers and Escrow Agent. Such waiver or waivers must be in
writing to the Sellers. If Buyer notifies the Sellers of a failure to satisfy the conditions
precedent set forth in this Section 5.4, the Sellers may, within five (5) Business Days
after receipt of Buyer’s notice, agree to satisfy the condition by written notice to Buyer, and
Buyer shall thereupon be obligated to close the transaction provided (i) the Sellers shall have a
reasonable period of time to satisfy such condition precedent (not to exceed forty-five (45) days
in the aggregate for all unsatisfied conditions precedent), (ii) the Closing Date shall be
automatically extended (without any action on the part of Buyer or the Sellers) to the Business Day
immediately after the last day of the period for the Sellers to cure such unsatisfied conditions
precedent, and (iii) it shall be a condition to Closing that the Sellers so satisfy such
unsatisfied conditions precedent by the Closing Date (as so extended). If the Sellers fail to
timely agree to cure or if the Sellers timely agree to cure but fail to timely cure such
unsatisfied conditions precedent by the Closing Date (as so extended), Buyer shall have the right
to either waive such unsatisfied conditions precedent and proceed to Closing without reduction in
the Purchase Price, or to elect to terminate this Agreement by written notice to the Sellers (with
copy to Escrow Agent), in which case the Deposit (and any interest accrued thereon) shall
immediately be returned to Buyer without any further action required from either party and neither
party shall have any continuing obligations hereunder, other than the provisions of this Agreement
that are expressly stated to survive the termination hereof; provided, however,
that in cases where this Agreement provides that Buyer shall only have the right to terminate this
Agreement with respect to a specific Parcel(s), Buyer shall only have the right to terminate this
Agreement with respect to such Parcel and shall only receive back the Applicable Portion of the
Deposit (and any interest accrued thereon) for such Parcel; provided, further,
however, if such failure constitutes a breach or default of any of the Sellers’ covenants,
representations or warranties expressly set forth in this Agreement, then the Sellers shall remain
liable for such breach or default as further set forth in Section 6.2. In the event of a
failure of the conditions precedent set forth in this Section 5.4 (and if Buyer has
performed or tendered performance of all of its material obligations in accordance with this
Agreement) which gives Buyer the right to terminate this Agreement pursuant to such failure of such
conditions precedent, Buyer in fact terminates this Agreement based on such failure, and such
failure was due to a default by Seller, then, and only in such case, Buyer shall be additionally
entitled to receive its actually incurred out of pocket expenses (including without limitation
reasonable out-of-pocket attorneys fees) in connection with this Agreement, subject to the
provisions and limitations of Section 9.23. Notwithstanding anything in this Agreement to
the contrary, with respect to the Purchase Price, Buyer shall be deemed to have performed or
tendered performance in accordance with this Section by funding that net cash portion of the
Purchase Price that would have been owed by Buyer (excluding any amount that would be credited
towards the Purchase Price pursuant to the Loan Assumption) into a separate escrow account with the
Escrow Agent. Such separate escrow account shall be wholly controlled by Buyer and may be
withdrawn by Buyer, in Buyer’s sole discretion, at any time after funding, provided that Buyer’s
withdrawal of such funds shall not be deemed to relieve Buyer of its obligations to proceed to
Closing and actually tender the Purchase Price to the extent expressly provided in this Agreement.

5.5 Conditions Precedent Favoring Sellers. In addition to any other condition
precedent in favor of the Sellers as may be expressly set forth elsewhere in this Agreement,
Sellers’ obligations under this Agreement are subject to the timely fulfillment of the conditions
set forth in this Section 5.5 on or before the Closing Date, or such earlier date as is set
forth below. Each condition may be waived in whole or part only by written notice of such waiver
from the Sellers to Buyer.

5.5.1 Buyer performing and complying in all material respects with all of the terms of this
Agreement to be performed and complied with by Buyer prior to or at the Closing (including, without
limitation, delivery of the Purchase Price (or the balance thereof) in accordance with the terms of
this Agreement).

5.5.2 On the Closing Date, all of the representations and warranties of Buyer set forth in
this Agreement shall be materially true, accurate and complete.

5.5.3 To the extent required by this Agreement, Buyer, all Buyer Subsidiaries and Replacement
Guarantor shall have complied with all of the requirements of the Existing Lender with respect to
the Loan Assumption and the Loan Assumption Documents, in each case subject only to Closing and
otherwise in accordance with Section 1.6.

5.5.4 Existing Lender’s consent to the Loan Assumption by Buyer and/or Buyer Subsidiaries, as
applicable.

5.5.5 The simultaneous purchase of the Property (less any Non-Purchased Parcels) by Buyer
and/or Buyer Subsidiaries, as applicable.

5.5.6 Existing Lender not imposing any Pre-payment Fees, to the extent not paid by Buyer in
Buyer’s sole discretion.

The conditions set forth in this Section 5.5 are solely for the benefit of the Sellers and
may be waived only by the Sellers. At all times the Sellers have the right to waive any condition
by giving written notice of such waiver to Buyer and Escrow Agent. Such waiver or waivers must be
in writing to Buyer. If the Sellers notify Buyer of a failure to satisfy the conditions precedent
set forth in this Section 5.5, Buyer may, within five (5) Business Days after receipt of
the Sellers’ notice, agree to satisfy the condition by written notice to the Sellers, and the
Sellers shall thereupon be obligated to close the transaction provided (i) the Buyer shall have a
reasonable period of time to satisfy such condition precedent (not to exceed forty-five (45) days
in the aggregate for all unsatisfied conditions precedent), (ii) the Closing Date shall be
automatically extended (without any action on the part of Buyer or the Sellers) to the Business Day
immediately after the last day of the period for Buyer to cure such unsatisfied conditions
precedent, and (iii) it shall be a condition to Closing that Buyer so satisfies such unsatisfied
conditions precedent by the Closing Date (as so extended). If Buyer fails to agree to cure or
fails to cure such unsatisfied conditions precedent by the Closing Date (as so extended), the
Sellers shall have the right to either waive such unsatisfied conditions precedent and proceed to
Closing, or to elect to terminate this Agreement by written notice to Buyer (with copy to Escrow
Agent), in which case, the Deposit (and any interest accrued thereon) shall immediately be returned
to Buyer without any further action required from either party and neither party shall have any
continuing obligations hereunder, other than the provisions of this Agreement that are expressly
stated to survive the termination hereof; provided, however, if such failure
constitutes a breach or default of any of Buyer’s covenants, representation or warranties expressly
set forth in this Agreement, then Buyer shall remain liable for such breach or default as further
set forth in Section 6.1 and the Deposit shall not be delivered to Buyer.

5.6 Seller’s Deliveries. At the Closing or on the date otherwise specified below,
each Seller shall deliver or cause to be delivered to Buyer, at such Seller’s sole expense, each of
the following items, with original signatures from all applicable parties:

5.6.1 For each Parcel, a duly executed and acknowledged special warranty deed that conveys
title to the Improvements of such Parcel to Buyer in substantially the same form as Exhibit
“L” attached hereto and that is otherwise recordable in the jurisdiction where such Parcel is
located.

5.6.2 For each Parcel, three (3) counterpart signatures to a duly executed and delivered
assignment and assumption agreement (the “Assignment of Ground Lease”) in the form attached
hereto as Exhibit “M”, whereby the respective Seller will assign its rights under the
respective Ground Lease for such Parcel to Buyer and Buyer will assume such Seller’s obligations
under such Ground Lease from such Seller.

5.6.3 For each Parcel, three (3) counterpart signatures to the bill of sale, assignment and
assumption of leases and contracts (the “Bill of Sale and Assignment”) duly and originally
executed and acknowledged by the respective Seller, in the form attached hereto as Exhibit
“F”, which shall transfer, convey, sell, assign and set over to Buyer all of such Seller’s
right, title and interest in and to the balance of the Property, including without limitation: (i)
the Personal Property; (ii) Tenant Leases; (iii) the Warranties and Permits; and (iv) any Contracts
Buyer elects to assume in accordance with the terms of this Agreement.

5.6.4 Four (4) counterpart signatures, duly executed, delivered and acknowledged (as
necessary) for each of the Loan Assumption Documents.

5.6.5 To the extent in Sellers’ possession, originals of all Tenant Leases and Ground Leases
(with all amendments and modifications thereto) relating to the Property.

5.6.6 Originals of all Tenant Estoppels and Ground Lease Estoppels.

5.6.7 Originals of all Hospital Waivers and Hospital Consents.

5.6.8 Originals of the Hobbs City Amendment and the Hobbs EDC Amendment.

5.6.9 All keys in the Sellers’ possession to all locks on the Property and all documents in
the possession of the Sellers pertaining to each Tenant, each Ground Lessor, Hobbs EDC and the City
of Hobbs including all applications, correspondence and credit reports.

5.6.10 A non-foreign person affidavit sworn to by each Seller as required by Section 1445 of
the Code.

5.6.11 Copies of a Tenant Notice (as defined below) for each Tenant Lease (to be delivered in
accordance with Section 5.12 below).

5.6.12 If required as a precondition to the issuance of the Title Policy (i) a certification
and indemnity from each Seller relating to mechanics’ or materialmen’s liens and parties in
possession in the form of Exhibit “D” annexed hereto (collectively, the “Owner’s
Certification and Gap Indemnity”) subject to any modifications or additions reasonably required
by the Title Company in order to insure over any Seller Monetary Encumbrances; to the extent
Sellers elect in writing to cure any Third Party Monetary Encumbrances pursuant to Section
2.6, any Third Party Monetary Encumbrances; parties in possession (provided,
however, any of such modifications or additions relating to parties in possession shall be
solely limited to representations as to possession by Tenants and other third parties, and only to
Sellers’ knowledge, and Sellers shall otherwise specifically not be required to make any
representations as to any third parties occupying through or under Tenants except as expressly
required herein); and any other representations (but only to Sellers’ knowledge) customarily and
reasonably required by the Title Company with respect to a party that ground leases land and, in
turn, master leases the same land, (ii) such evidence, documents, and affidavits relating to the
status and capacity of each Seller and the authority of the person or persons who are executing the
various documents on behalf of each Seller in connection with the sale of the Property; (iii) such
evidence, documents, and affidavits customarily delivered by sellers and reasonably required by the
Title Company in order for the Title Company to issue, as applicable, a new title policy for
Existing Lender, any bring-down endorsements to Existing Lender’s existing policy, and/or any other
customary title endorsements required by Existing Lender in connection with the Loan Assumption as
further described in Article 2, and (iv) any other matter reasonably required to enable the Title
Company to issue the Title Policy and endorsements thereto and which are customarily delivered by
sellers (but in no event resulting in any material additional cost or material liability to
Sellers).

5.6.13 Originals of all documents in the possession of each Seller relating to the operation
of the Property including all operating statements, permits, licenses, approvals, plans,
specifications, guaranties and warranties.

5.6.14 A duly executed Closing Statement (as defined below) reflecting the adjustments and
prorations required by this Agreement.

5.6.15 Such evidence or documents as may reasonably be required by Buyer evidencing the power
and authority of each Seller and its respective constituent owners, manager or general partner as
the case may be and the due authority of, and execution and delivery by, any person or persons who
are executing any of the documents required in connection with the sale of the Property.

5.6.16 Such other instruments as may be reasonably required to consummate the transactions
contemplated by this Agreement.

5.7 Buyer’s Deliveries. At the Closing, Buyer shall deliver to each Seller the
following items (with original signatures from all applicable parties):

5.7.1 Immediately available federal funds sufficient to pay the Purchase Price (less the
Deposit and any prorations or credits required by this Agreement) and Buyer’s share of all escrow
costs and closing expenses.

5.7.2 For each Parcel, three (3) counterpart signatures to the applicable Assignment of Ground
Lease, duly executed and delivered by Buyer.

5.7.3 For each Parcel, three (3) counterpart signatures to the applicable Bill of Sale and
Assignment, duly executed and delivered by Buyer.

5.7.4 Four (4) counterpart signatures, duly executed, delivered and acknowledged (as
necessary) for each of the Loan Assumption Documents.

5.7.5 Duly executed and acknowledged originals of the Closing Statement (as defined below).

5.7.6 Such evidence or documents as may reasonably be required by the Title Company evidencing
the status and capacity of Buyer and the authority of the person or persons who are executing the
various documents on behalf of Buyer in connection with the purchase of the Property.

5.7.7 Such other instruments as may be reasonably required to consummate the transactions
contemplated by this Agreement.

5.8 Costs, Prorations and Credits.

5.8.1 Closing Costs. Buyer and the Sellers shall each pay their own legal fees
related to the preparation of this Agreement and all documents required to settle the transactions
contemplated hereby, and Sellers shall pay the legal fees of the Existing Lender in connection with
the Loan Assumption. Buyer and Sellers acknowledge and agree that the costs of (i) transfer taxes,
(ii) owner’s title insurance premiums, (iii) endorsements to title insurance policies, (iv)
lender’s title insurance policies (except with respect to any new title policies for Existing
Lender, bring-down endorsements for Existing Lender’s existing title policy, and/or other customary
title endorsements requested by Existing Lender in connection with the Loan Assumption, which costs
shall be the sole responsibility of Sellers), (v) recordation taxes and fees (associated with the
transfer of Property by Sellers to Buyer), (vi) title searches, and (vii) mortgage taxes, are
customarily paid in Texas, Louisiana, New Mexico, and Arkansas by the party, split between the
parties or not applicable to the parties as described in Schedule 5.8.1 annexed hereto, and Buyer
and Sellers agree to pay such items in accordance with Schedule 5.8.1 annexed hereto (except to the
extent Sellers are required to pay such items as part of Sellers’ curing obligations in accordance
with Article 2, in which case Seller shall be responsible for such costs). In addition to
the foregoing, Buyer shall pay all costs associated with its investigation of the Property,
including the cost of appraisals, updated surveys, architectural, engineering, credit and
environmental reports, and Preliminary Reports and UCC Searches; provided, however,
(i) if Closing does not occur, the costs of the Preliminary Reports and UCC Searches shall be
shared equally between Sellers and Buyer, (ii) if Closing does occur and the costs of the UCC
Searches are subsumed in the costs of the title premium, then the costs for the UCC Searches shall
be paid by the party otherwise responsible for the costs of the Preliminary Reports, and (iii) if
Closing does occur and the costs of the UCC Searches are not subsumed in the costs of the title
premiums, then (1) if the UCC Searches are required by the Existing Lender in connection with the
Loan Assumption, the Sellers shall pay such costs, and (2) if the UCC Searches are not required by
the Existing Lender in connection with the Loan Assumption, then the Buyer shall pay such costs.
In addition to as otherwise provided herein, the Sellers shall pay (1) the cost of the Title
Company to issue any new title policies for the Existing Lender, bring-down endorsements for the
Existing Lender, and/or other title endorsements required by the Existing Lender in connection with
the Loan Assumption, (2) all transfer, assumption or waiver fees associated with any ground lessor,
association, declarant or easement holder that holds any right in the Property, and (3) any Loan
Assumption Related Fees. Buyer and Seller shall share equally the cost of all escrow charges. Any
and all other purchase and sale closing costs shall be paid in accordance with the custom of the
local jurisdiction in which the Property is located. Buyer and Sellers further agree and
acknowledge that in the event new title policies are issued to Existing Lender in connection with
the Loan Assumption, then the simultaneous issuance rate customarily charged by the Title Company
shall be attributed solely to the Existing Lender’s mortgage policy (and that the premium payable
shall be attributed to the owner’s policy).

5.8.2 Prorations. The following shall be prorated, credited, debited and adjusted
between each Seller and Buyer as of 12:01 a.m. on the day of Closing (except as otherwise provided)
in accordance with this section. For purposes of calculating prorations, Buyer shall be deemed to
be in title to the Property, and therefore entitled to the income and responsible for the expenses,
for the entire day upon which the Closing occurs. Except as hereinafter expressly provided, all
prorations shall be done on the basis of a three hundred sixty-five (365) day year and the actual
number of days elapsed to the Closing Date or the actual number of days in the month in which the
Closing occurs and the actual number of days elapsed in such month to the Closing Date, as
applicable.

(a) Rents. Buyer will receive a credit at Closing for all rents collected by
each Seller prior to the Closing Date and allocable to the period from and after the Closing
Date based upon the actual number of days in the month. No credit shall be given any Seller
for accrued and unpaid rent or any other non-current sums due from Tenants until these sums
are paid, and each Seller shall retain the right to collect any such rent provided such
Seller does not sue to evict any Tenants or terminate any Tenant Leases. Buyer shall
cooperate with the Sellers after the Closing Date to collect any rent under the Tenant
Leases which has accrued as of the Closing Date; provided, however, Buyer
shall not be obligated to sue any Tenants or exercise any legal remedies under the Tenant
Leases or to incur any expense over and above its own regular collection expenses. All
payments collected from Tenants after the Closing Date shall first be applied to the month
in which the Closing occurs, then to any rent due to Buyer for the period after the Closing
Date and finally to any rent due to any Seller for the periods prior to Closing Date;
provided, however, notwithstanding the foregoing, if any Seller collects any
payments from Tenants after the Closing Date through its own collection efforts, such Seller
may first apply such payments to rent due Seller for the period prior to the Closing Date.

(b) CAM Expenses. To the extent that tenants are reimbursing the landlord for
common area maintenance and other operating expenses (collectively, “CAM
Charge(s)”), CAM Charges shall be prorated at Closing as of the Closing Date on a
lease-by-lease basis with each party being entitled to receive a portion of the CAM Charges
payable under each Tenant Lease for the CAM Lease Year (as defined below) in which Closing
occurs, which portion shall be equal to the actual CAM Charges incurred during the party’s
respective periods of ownership of the Property during the CAM Lease Year. As used herein,
the term “CAM Lease Year” means the twelve (12) month period as to which annual CAM
Charges are owed under each Tenant Lease. Seller shall be responsible for the CAM Charges
reconciliation on a lease-by-lease basis for their ownership period within the CAM Lease
Year up to, but not including, the Closing Date. Buyer shall be responsible for the CAM
Charges reconciliation on a lease-by-lease basis for their ownership period within the CAM
Lease Year including the Closing Date. In the event of any expenses, i.e. property taxes,
where a proration was based upon an estimate for the year of Closing, a post closing “true
up” will be performed for the actual expense to determine Seller and Buyer obligation for
their ownership period for the year of Closing. Each party will be responsible for any CAM
Charges “true up” necessary to the extent that any Tenant Lease provides for a “true up”.

(c) Security Deposits, Unpaid Rent Concessions, Unpaid Tenant Improvement
Allowances and Other Tenant Credits. To the extent applicable, the amount of all
unapplied tenant security deposit, any accrued interest due any tenant thereon, unpaid rent
concessions due under any Tenant Lease, unpaid tenant improvement allowances owing under any
Tenant Lease and the amount of any other credits due any tenant shall be credited to Buyer
based on a rental statement prepared by the Sellers and approved by Buyer (which statement
must be consistent with the applicable Tenant Lease, the applicable Tenant Estoppel, and the
final rent roll).

(d) Property Taxes. All real property taxes for years prior to the year
immediately preceding the year of Closing shall, to the extent the same is due and payable
on the Closing Date, be paid by each Seller (to the extent not already paid by each Tenant)
on or before the Closing. To the extent not paid directly by Tenants, all real property
taxes for the year immediately preceding the year of Closing that are (i) payable in the
year of Closing and (ii) due and payable as of the Closing Date, shall be paid by each
Seller on or before the Closing. To the extent not paid directly by Tenants, real property
taxes for the year of Closing shall be prorated on the basis of the most recent assessment
and levy. To the extent not paid directly by Tenants, if the most recent tax assessment and
levy is not for the current tax year, then the parties shall reprorate within sixty (60)
days of the receipt of the tax assessment and levy for the current tax year. If after the
Closing there is any retroactive increase in the real or personal property taxes or
assessments imposed on the Property: (1) if such increase relates to the tax year in which
the Closing occurred and such real property taxes were not paid directly by the Tenants,
then such increase shall be prorated by the Sellers and Buyer on a per diem basis based on
their respective periods of ownership during their period to which such increase applies,
(2) if such increase relates to any tax year subsequent to the tax year which the Closing
occurred, then such increase shall be the obligation of Buyer, and (3) if such increase
relates to any tax year prior to the tax year in which the Closing occurred and such real
property taxes were not paid directly by Tenants, then such increase shall be the obligation
of the Sellers. Any and all refunds, credits, claims or rights to appeal respecting the
amount of any real property taxes or other taxes or assessments charged in connection with
the Property for any period shall belong to Buyer following the Closing, except that if
prior to the end of the Due Diligence Period a Seller has applied for a property tax refund
or has appealed the county assessor’s valuation of the Property for any period of time prior
to the Closing Date, then such Seller shall be entitled to any refund applicable to such
period.

(e) Private Assessments. To the extent applicable, payments due under any
assessments imposed by private covenant shall be prorated as of the Closing Date.

(f) Operating Expenses. To the extent applicable, all operating expenses
(including all charges under the Contracts and agreements assumed by Buyer) shall be
prorated, and as to each service provider, operating expenses payable or paid to such
service provider in respect to the billing period of such service provider in which the
Closing occurs (the “Current Billing Period”), shall be prorated on a per diem basis
based upon the number of days in the Current Billing Period prior to the Closing Date and
the number of days in the Current Billing Period from and after the Closing Date, and
assuming that all charges are incurred uniformly during the Current Billing Period. If
actual bills for the Current Billing Period are unavailable as of the Closing Date, then
such proration shall be made on an estimated basis based upon the most recently issued
bills, subject to readjustment upon receipt of actual bills.

(g) Leasing Commissions. To the extent applicable, at Closing, Buyer shall
receive a credit for any rent concessions that have not been fully utilized at Closing and
for any tenant improvement costs or leasing commissions that have not been fully satisfied
at Closing.

(h) Interest on the Loan. Interest paid by Sellers on the Existing Loan for
the month in which the Closing occurs, to the extent assumed by Buyer or Buyer Subsidiaries,
shall be prorated as of the Closing Date.

(i) Other Items. All other items customarily prorated or required by any other
provision of this Agreement to be prorated or adjusted.

5.8.3 Items Not Prorated. Each Seller and Buyer agree that (i) on the Closing Date,
the Property will not be subject to any financing arranged by any Seller or any other party, except
for the Existing Loan (to be assumed by Buyer pursuant to the Loan Assumption in accordance with
this Agreement); (ii) none of the insurance policies relating to the Property will be assigned to
Buyer and Buyer shall be responsible for arranging for its own insurance as of the Closing Date;
and (iii) to the extent any Seller has contracted directly with any utility provider, including
telephone, electricity, water, and gas, such utility shall be read on the Closing Date and Buyer
shall be responsible for all the necessary actions needed to arrange for the same to be transferred
to the name of Buyer on the Closing Date, including the posting of any required deposits and, if
applicable, each Seller shall be entitled to recover and retain from the providers of such
utilities any refunds or overpayments to the extent applicable to the period prior to the Closing
Date, and any utility deposits which it or its predecessors may have posted. Accordingly, there
will be no prorations for debt service (other than in connection with the Existing Loan), insurance
or utilities. In the event a meter reading is unavailable for any utility directly contracted for
by Sellers, such utility shall be prorated in the manner provided in Section 5.8.2(f).
Notwithstanding the foregoing, Buyer acknowledges that Seller has indicated that the Tenant Leases
are “net leases” and that each Tenant under such Tenant Lease is required to (x) pay all costs,
charges, assessments, taxes, impositions, and expenses of every kind and nature whatsoever (other
than non-casualty repairs to the roof and other structural elements of the improvements) with
respect to the applicable portion of the Property leased by such Tenant under a Tenant Lease, and
(y) arrange and pay for all utilities necessary to service the applicable portion of the Property
leased by such Tenant under a Tenant Lease (collectively, the “Tenant Expenses”).
Accordingly, notwithstanding anything else contained in this Section 5.8 to the contrary,
there shall be no pro-rations under this Agreement for any Tenant Expenses (other than for real
property taxes that are due and owing as of the Closing Date) to the extent the Tenants are
required to pay such Tenant Expenses pursuant to the terms of the Tenant Leases. In the event
Sellers pay any real property taxes that constitute Tenant Expenses on behalf of Tenants, then
Sellers shall retain rights against any of such Tenants with respect to such real property taxes
(excluding any rights related to the termination of the underlying leasehold interests) and Buyer
shall reasonably cooperate with Sellers to exercise such rights at no cost or liability to Buyer.
In the event Sellers pay any real property taxes that constitute Tenant Expenses and Buyer collects
the same from Tenants, Buyer shall promptly pay the same over to Sellers (provided, however, in no
event shall Buyer be obligated to pay any rents received from Tenants to Sellers to reimburse
Sellers for such Tenant Expenses).

5.8.4 Loan Assumption. Buyer shall receive a credit at Closing in an amount equal to
the Loan Assumption Amount, and any interest, default interest, or other sum that is due and
payable to Existing Lender on the Closing Date (that is not then paid for by Sellers) allocable to
that portion of the Existing Loan assumed by Buyer.

5.8.5 Calculation/Re-prorations. Each Seller shall prepare and deliver to Buyer no
later than three (3) Business Days prior to the Closing Date an estimated closing statement which
shall set forth all costs payable, and the prorations and credits provided for in this Agreement
(subject in all cases to the last sentence of Section 5.8.3) and to the extent any Seller does not
timely deliver the estimated closing statement to Buyer, Buyer shall have the right, but not the
obligation, to extend the Closing Date by the number of days any Seller is delinquent in delivering
such estimated closing statement to Buyer. Any item which cannot be finally prorated because of the
unavailability of information shall be tentatively prorated on the basis of the best data then
available and adjusted when the information is available in accordance with this subsection. Buyer
shall notify any Seller within two (2) days after its receipt of such estimated closing statement
of any items which Buyer disputes and the parties shall attempt in good faith to reconcile any
differences not later than one (1) day before the Closing Date. The estimated closing statement as
adjusted as aforesaid and approved in writing by the parties shall be referred to therein as the
“Closing Statement”. If the prorations and credits made under the Closing Statement shall
prove to be incorrect or incomplete for any reason, then either party shall be entitled to an
adjustment to correct the same; provided, however, that any adjustment shall be
made, if at all, within sixty (60) days after the Closing Date except with respect to CAM Charges,
taxes and assessments, in which case such adjustment shall be made within sixty (60) days after the
information necessary to perform such adjustment is available), and if a party fails to request an
adjustment to the Closing Statement by a written notice delivered to the other party within the
applicable period set forth above (such notice to specify in reasonable detail the items within the
Closing Statement that such party desires to adjust and the reasons for such adjustment), then the
prorations and credits set forth in the Closing Statement shall be binding and conclusive against
such party.

5.8.6 Survival. The provisions of this Section 5.8 shall survive the Closing.

5.9 Distribution of Funds and Documents. At Closing, Escrow Agent shall do each of
the following:

5.9.1 Payment of Encumbrances. If not cured by Sellers prior to Closing, pay the
amount of any Seller Monetary Encumbrances and pay Third Party Monetary Encumbrances (to the extent
Sellers have agreed in writing to cure any Third Party Monetary Encumbrance in accordance with
Section 2.6 hereof), utilizing funds to which the Sellers shall be entitled upon Closing
and funds (if any) deposited in Escrow by Sellers.

5.9.2 Recorded Documents. Record each document received hereunder that is required to
be recorded with the real estate records or recorder for the applicable Parcel, and deliver by
overnight courier (or as otherwise requested by the intended recipient) (together with the
documents set forth in Section 5.9.3) a copy of each recorded document, conformed to show
the recording data thereon, to each party hereto.

5.9.3 Non-Recorded Documents. Deliver by overnight courier (or as otherwise requested
by the intended recipient): (i) the Title Policy to Buyer; and (ii) each non-recorded document
received hereunder to the payee or person acquiring rights thereunder or for whose benefit said
document was acquired.

5.9.4 Distribution of Funds. Deliver (i) to the Sellers, or order, the cash portion
of the Purchase Price, adjusted for prorations, charges and other credits and debits provided for
herein; and (ii) to Buyer, or order, any excess funds delivered to Escrow Agent by Buyer. Such
funds shall be delivered by wire transfer or cashier’s check in accordance with instructions for
the Sellers and Buyer; if no instructions are given, Escrow Agent shall deliver such funds by
Escrow Agent’s check via overnight courier (or as otherwise requested by the intended recipient) to
the appropriate party at the address set forth for notice in this Agreement.

5.10 Completion of Documents. Escrow Agent is authorized to insert the Closing Date
and otherwise to complete the documents deposited in Escrow, where appropriate and consistent with
this Agreement.

5.11 Possession. Possession of the Property shall be delivered to Buyer by each
Seller at Closing, subject only to the Tenant Leases, the Ground Leases, the Permitted Exceptions,
the Existing Lender’s Liens, and the other matters described in Section 4.1.2 hereof. The
Sellers and Buyer covenant and agree to execute at Closing a written notice of the acquisition of
the Property by Buyer, in sufficient copies for transmittal to each Tenant and Ground Lessor
affected by the sale and purchase of the Property and properly addressed to each Tenant and Ground
Lessor. Such notices shall be prepared by Seller, at Seller’s cost and expense, and reasonably
approved by Buyer, shall notify the Tenants and Ground Lessors of the sale and transfer and shall
contain appropriate instructions relating to the payment of future rentals, the giving of future
notices and other matters reasonably required by Buyer or required by law (each a “Tenant
Notice”). Buyer agrees to provide Sellers with appropriate instructions relating to the
payment of future rentals, the giving of future notices and other matters reasonably required by
Buyer or required by law at least five (5) Business Days prior to the Closing Date. Unless a
different procedure is required by applicable law, in which event such law shall be controlling,
each Seller agrees to transmit or otherwise deliver such letters to the Tenants under the Tenant
Leases and Ground Lessors under the Ground Leases promptly after the Closing.

ARTICLE 6

TERMINATION AND DEFAULT

6.1 Buyer Default. If Closing fails to occur on the Closing Date because Buyer fails
to perform any of its material obligations, or if Buyer is in material default hereunder, or Buyer
materially defaults in its obligation to purchase the Property in accordance with the terms of this
Agreement, after each Seller has performed or tendered performance of all of its material
obligations in accordance with this Agreement, then, provided that the Sellers shall have delivered
notice of such material failure or material default to Buyer, and Buyer shall not have remedied or
cured such material failure or material default within ten (10) Business Days after receipt of such
notice (or, if Buyer is not reasonably able to effectuate such remedy or cure within such ten (10)
Business Day period, such longer period, not to exceed thirty (30) days in the aggregate for all
such material defaults), in which event the Closing Date shall be automatically extended (without
the need for any action on the part of Buyer or the Sellers) to the Business Day after the earlier
of the date Buyer remedies or cures such material default in all material respects or the
expiration of such ten (10) Business Day (or longer as aforesaid) period), (i) this Agreement shall
terminate; (ii) the Deposit (and any and all interest thereon) shall be paid to and retained by the
Sellers as liquidated damages; and (iii) the Sellers and Buyer shall have no further obligations to
each other under this Agreement except those provisions which expressly survive the termination of
this Agreement.

Buyer and the Sellers acknowledge that the damages to the Sellers in the event of a breach of
this Agreement by Buyer would be difficult or impossible to determine, that the amount of the
Deposit represents the parties’ best and most accurate estimate of the damages that would be
suffered by the Sellers if the transaction should fail to close and that such estimate is
reasonable under the circumstances existing as of the date of this Agreement and under the
circumstances that the Sellers and Buyer reasonably anticipate would exist at the time of such
breach. Buyer and the Sellers agree that the Sellers’ right to retain the Deposit (and interest
earned thereof) shall be the Sellers’ sole remedy, at law and in equity, for Buyer’s failure to
purchase the Property in accordance with the terms of this Agreement. The Sellers hereby waive any
right to an action for specific performance of any provisions of this Agreement.

6.2 Sellers’ Default.

6.2.1 If prior to Closing any Seller fails to perform any of its material obligations or is
otherwise in material default hereunder or willfully causes the failure of a condition precedent
pursuant to Section 5.4 hereof (each, a “Pre-Closing Default, and collectively, the
Pre-Closing Defaults”), after Buyer has performed or tendered performance of all of its
material obligations in accordance with this Agreement, then, provided that Buyer shall have
delivered notice of such Pre-Closing Default to the Sellers, and the applicable Seller shall not
have remedied or cured such Pre-Closing Default within ten (10) Business Days after receipt of such
notice (or, if such Seller is not reasonably able to effectuate such remedy or cure within such ten
(10) Business Day period, such longer period, not to exceed thirty (30) days in the aggregate for
all such material defaults), in which event the Closing Date shall be automatically extended
(without the need for any action on the part of Buyer or the Sellers) to the Business Day after the
earlier of the date such Seller remedies or cures such material default or the expiration of such
ten (10) Business Day (or longer as aforesaid period), Buyer shall have the right by written notice
to the Sellers at the Buyer’s sole option and by written notice to Buyer, to elect any or all of
the following:

(a) Waive such Pre-Closing Default and proceed to the Closing with no reduction in the
Purchase Price and tender the actual Purchase Price to Sellers; provided,
however, that this provision will not limit (other than with respect to such
Pre-Closing Default for which Buyer shall be deemed to have waived all of Sellers’
obligations and Buyer’s right and remedies with respect thereto) Buyer’s right to receive
reimbursement for attorney’s fees subject and pursuant to Section 9.8 below in
connection with any legal proceedings instituted by any party or Escrow Agent with respect
to the enforcement of this Agreement, nor waive or affect each Seller’s indemnity
obligations under this Agreement or Buyer’s rights to enforce those indemnity obligations,
nor waive or affect any of the Sellers’ other obligations under this Agreement to be
performed after the Closing or Buyer’s rights to enforce those obligations.

(b) Subject to the provisions of this Section 6.2, exercise any of its other
rights or remedies Buyer may have at law or in equity, including without limitation an
action for specific performance to cause each Seller to convey the Property to Buyer
pursuant to the terms and conditions of this Agreement; provided, however,
the Sellers shall not be liable for any consequential or punitive damages under this
Agreement.

(c) Terminate this Agreement by notice to the Sellers and Escrow Agent to that effect,
in which event (i) this Agreement shall terminate; (ii) the Deposit (and any and all
interest thereon) shall be returned and paid to Buyer; (iii) subject to the provisions of
Section 9.23, the Sellers shall reimburse Buyer for its actually incurred out of
pocket expenses (including without limitation attorneys’ fees) in connection with this
Agreement (which obligation of the Sellers shall survive such termination of this
Agreement); and (iv) other than as set forth in clause (iii) above, the Sellers and
Buyer shall have no further obligations to each other under this Agreement except those
provisions which expressly survive the termination of this Agreement.

Notwithstanding the foregoing, a breach by a Seller of a representation or warranty that Buyer had
actual knowledge of prior to two (2) Business Days prior to the end of the Due Diligence Period
(each, a “DDP Breach”) shall result in Buyer being deemed to have waived any remedies
hereunder with respect thereto and for which Sellers shall have no liability or obligation under
this Agreement, at law or in equity; except that, notwithstanding anything in this Agreement to the
contrary, subject to the provisions of Section 9.23, if Buyer does not deliver an Approval
Notice to Sellers and Escrow Agent in accordance with this Agreement, the Sellers shall, provided
Buyer gives Sellers written notice of the DDP Breach within two (2) Business Days after the end of
the Due Diligence Period (and such DDP Breach was material), reimburse Buyer for its actually
incurred out of pocket expenses (including without limitation attorneys’ fees) in connection with
this Agreement (which obligation of the Sellers shall survive termination of this Agreement), to
the extent such expenses are incurred on or prior to the date of such actual knowledge of Buyer.

Notwithstanding anything in this Agreement to the contrary, with respect to the Purchase Price,
Buyer shall be deemed to have performed or tendered performance in accordance with this Section
6.2.1 by funding that net cash portion of the Purchase Price that would have been owed by Buyer
(excluding any amount that would be credited towards the Purchase Price pursuant to the Loan
Assumption) into a separate escrow account with the Escrow Agent. Such separate escrow account
shall be wholly controlled by Buyer and may be withdrawn by Buyer, in Buyer’s sole discretion, at
any time after funding, provided that Buyer’s withdrawal of such funds shall not be deemed to
relieve Buyer of its obligations to proceed to Closing and tender the actual Purchase Price to the
extent expressly provided in this Agreement.

6.2.2 At Closing, Sellers shall deposit $300,000 in the aggregate (the “Post-Closing
Escrow Amount”) with Escrow Agent as security for Sellers’ breach of any representation and
warranty contained in any Representation Documents that expressly survives Closing (other than a
breach of any representation or warranty that constitutes a Pre-Closing Default that Buyer has
actual knowledge of pre-Closing (a “PCD-PC Breach”); such breach of any such representation
and warranty other than a PCD-PC Breach being referred to herein as an “Actionable
Breach”). Such security amount to be held by Escrow Agent in an insured (up to $250,000),
interest-bearing account at First American Trust FSB with interest accruing for the
benefit of the party entitled to the monies. In the event Buyer believes, after Closing, that
there is an Actionable Breach, then Buyer shall, prior to the end of the Survival Period, provide
Sellers and Escrow Agent with a written notice (the “R&W Default Notice”) alleging that
Sellers are in breach of a representation or warranty and specifying in reasonable detail the
nature of such breach. Buyer shall allow Sellers thirty (30) days after Sellers’ receipt of the
R&W Default Notice to cure any bona-fide breach or if such bona-fide breach cannot be cured within
such thirty (30) day period, and Sellers notify Buyer it wishes to extend its cure period (the
“Cure Extension Notice”), such additional reasonable period of time as is required to cure
the same (not to exceed sixty (60) days in the aggregate) so long as such cure has been commenced
within such thirty (30) day period and is being diligently pursued to completion. If Sellers fail
to cure such breach after written notice thereof, Buyer’s sole remedy shall be to commence a legal
proceeding against Sellers alleging that Sellers are in breach of such representation or warranty
and that Buyer shall have suffered actual damages, or is reasonably likely to suffer actual damages
in the future, as a result thereof (a “Proceeding”), which Proceeding must be commenced, if
at all, within ninety (90) days after the expiration of the Survival Period. If Buyer shall have
timely commenced a Proceeding and a court of competent jurisdiction shall, pursuant to a final
unappealable order in connection with such Proceeding, determine that (A) there was an Actionable
Breach, (B) Sellers were in breach of the applicable representation or warranty as of Closing, and
(C) Buyer suffered actual damages, or is reasonably likely to suffer actual damages in the future,
by reason of such breach, (the immediately foregoing clauses (A), (B), and (C) being known
collectively as a “Default Condition”), then Buyer shall, subject to the limitations
provided in Section 6.2.3 below, be entitled to receive an amount equal to the actual
damages suffered or the damages reasonably likely to be suffered in the future, including any costs
and expenses of Buyer in connection with such Proceeding (including without limitation reasonable
attorneys fees). Any such actual damages shall be paid by (x) Sellers directly within thirty (30)
days following the entry of such final order and delivery of a copy thereof to Sellers and the
Escrow Agent, or (y) Escrow Agent to the extent Sellers have failed to timely pay such actual
damages and to the extent Escrow Agent is then holding proceeds pursuant to this Agreement. In the
event (i) Escrow Agent does not timely receive an R&W Default Notice before the end of the Survival
Period, (ii) receives a timely R&W Default Notice with subsequent evidence from Sellers and Buyer
that the underlying default has been cured or settled, (iii) receives a timely R&W Default Notice
but Seller notifies Escrow Agent that Buyer has failed to timely commence a Proceeding with respect
thereto, or (iv) Escrow Agent receives a timely R&W Default Notice and evidence satisfactory to
Escrow Agent that a Proceeding has been timely commenced, then Escrow Agent, shall, (a) in the case
of (i) above, return the proceeds being held under this Agreement to Sellers promptly following the
end of the Survival Period, (b) in the case of (ii) above, return the proceeds being held under
this Agreement to Sellers promptly after written consent from Sellers and Buyer acknowledging that
the underlying defect has been cured or settled, provided that the Survival Period has expired, (c)
in the case of (iii) above, unless Buyer is able to provide evidence reasonably satisfactory to
Escrow Agent that a Proceeding was timely commenced, return the proceeds being held under this
Agreement to Sellers promptly after the date that is ninety (90) days after the end of the Survival
Period, or (d) in the case of (iv) above, return any remaining portion of the Post-Closing Escrow
Amount to Sellers promptly after issuance of the final order if it is determined that Sellers are
not liable, promptly after payment of the actual damages by Sellers if Sellers are liable, or
promptly after receipt by Escrow Agent of evidence satisfactory to it that payment to Buyer if
Escrow Agent is required to pay such actual damages pursuant to the terms hereof.

6.2.3 Notwithstanding anything to the contrary in this Agreement, Buyer shall not be required
to fund the balance of the Purchase Price in order to enforce its remedies under this Agreement,
provided that with respect to the Purchase Price, Buyer shall be deemed to have performed or
tendered performance in accordance with this Agreement by funding the net cash portion of the
Purchase Price that would have been owed by Buyer (excluding any amount that would be credited
towards the Purchase Price pursuant to the Loan Assumption) into a separate escrow account with the
Escrow Agent. Such separate escrow account shall be wholly controlled by Buyer and may be
withdrawn by Buyer, in Buyer’s sole discretion, at any time after funding, provided that Buyer’s
withdrawal of such funds shall not be deemed to relieve Buyer of its obligations to proceed to
Closing and tender the actual Purchase Price to the extent expressly provided in this Agreement.
In addition, notwithstanding anything to the contrary set forth in this Agreement, the following
shall apply with respect to any claim by Buyer or a Seller (as applicable) that a party has failed
to perform any of its obligations or is otherwise in default hereunder:

(a) If Buyer has actual knowledge of any breach of any representation or warranty of
any Seller under this Agreement prior to Closing, but Buyer nevertheless proceeds to Closing
on the Closing Date, then Sellers shall have no liability or obligation under this
Agreement, at law or in equity with respect to such breach. For all purposes of this
Article 6, Buyer shall be deemed to have “actual knowledge” of a circumstance or
fact only if Danny Prosky, Stefan Oh, or Brian McDonald actually becomes aware of such fact
or circumstance through its own diligence, from Sellers, or from a third party;
provided, however, Danny Prosky, Stefan Oh, and Brian McDonald shall not be
deemed to have “actual knowledge” of a circumstance or fact solely from the mere delivery of
the Property Information by Sellers to Buyer. Buyer represents and warrants to Sellers that
Danny Prosky is President and COO of Grubb & Ellis Healthcare REIT II, Inc., Stefan Oh is
Senior Vice President of Acquisitions of Grubb & Ellis Healthcare REIT II, Inc., and Brian
McDonald is Associate Vice President, Acquisitions, of Grubb & Ellis Equity Advisors, LLC,
and all are actively involved with the acquisition of the Property.

(b) Buyer shall not pursue any claim under this Agreement (including, without
limitation, after Closing) against the Sellers for damages that is less than Ten Thousand
Dollars ($10,000.00). Further, the maximum amount of liability that the Sellers shall have
to Buyer in all circumstances for any and all surviving obligations under this Agreement and
any other Representation Documents (including, without limitation, any obligation or
liability arising out of any of the representations and warranties of the Sellers that
survives Closing, any obligation or liability arising out of any of the representations and
warranties of the Sellers in any Representation Letter, under any transfer documents, any
indemnification or other obligation or liability contained herein or in a Representation
Document that is specifically stated to survive Closing, and any indemnification or other
obligation or other liability under any other document or instrument delivered by the
Sellers in connection with Closing, and any of Buyer’s legal fees, costs, and/or expenses
arising out of the foregoing) shall not exceed in the aggregate, the amount of Six Hundred
Thousand Dollars ($600,000.00). Any monies paid by Escrow Agent to Buyer out of the
Post-Closing Escrow Amount shall count towards the aforementioned cap on Sellers’ liability.

(c) Unless expressly provided for in this Agreement, in no event shall Sellers be
liable for any incidental, consequential, indirect, punitive, special or exemplary damages,
or for lost profits, unrealized expectations or other similar claims, and in every case
Buyer’s recovery for any claims referenced in this Agreement shall be net of any insurance
proceeds paid to Buyer and any indemnity, contribution or other similar payment then
recovered by Buyer from any insurance company, tenant, or other third party for such damage.
To the extent any of such insurance proceeds or any indemnity, contribution or other
similar payments are paid after Sellers’ payment to Buyer of claims hereunder, then (i) in
the event such payments are made to Sellers, Sellers shall have the right to keep such
payments, and (ii) in the event such payments are made to Buyer, Buyer shall promptly pay
the same to Sellers.

ARTICLE 7

CASUALTY DAMAGE OR CONDEMNATION

7.1 Casualty. If the Improvements are damaged by one or more casualties prior to the
Closing and either (i) the casualty in the aggregate with respect to a Parcel results in loss or
damage in an amount valued greater than Two Hundred Thousand Dollars ($200,000.00), or (ii) the
nature of any such casualty results in a circumstance whereby (1) a Tenant under a Tenant Lease has
the right to terminate its Tenant Lease (provided, however, that such Tenant has
not provided such Seller with a written waiver of such right of termination or the period in which
Tenant must exercise such right of termination has lapsed expressly in accordance with the terms of
the Tenant Lease) or receive a rent abatement, or (2) a Ground Lessor under a Ground Lease has the
right to terminate the Ground Lease (provided, however, that such Ground Lessor has
not provided such Seller with a written waiver of such right of termination or the period in which
Ground Lessor must exercise such right of termination has lapsed expressly in accordance with the
terms of the Ground Lease) or provide Seller with a rent abatement, then, in any such event, Buyer
shall have the sole option to elect either to:

(a) acquire the Parcel affected by such casualty as is (without reduction in the
Purchase Price) on the Closing Date, plus an assignment without recourse or credit of any
insurance proceeds payable to such Seller(s) by virtue of such loss or damage plus a credit
for any deductible under said policy; or

(b) terminate this Agreement as it relates solely to the Parcel affected by such
casualty and, subject to Sections 3.6, receive back the Applicable Portion of the
Deposit (and any interest accrued thereon) applicable to the subject Parcel, in which event
the Sellers and Buyer shall have no further obligations to each other under this Agreement
as it relates solely to the applicable Parcel except those provisions which expressly
survive the termination of this Agreement.

Such right must be exercised within thirty (30) days from the date the Sellers provide Buyer
with notice of the loss of the event giving rise to such right. If Buyer fails to provide notice
of an election, then Buyer shall have been deemed to elect under clause (b) above.
Notwithstanding the foregoing, if the Improvements are damaged by casualty prior to the Closing and
the casualty does not result in the occurrence of any of the events set forth in clauses
(i) or (ii) above, then Buyer shall be required to acquire the Parcel as is (without
reduction in the Purchase Price) on the Closing Date; provided, however, Buyer
shall receive an assignment without recourse or credit of any insurance proceeds payable to Seller
by virtue of such loss or damage plus a credit for any deductible under said policy.

7.2 Condemnation. In the event that any portion of the Real Property should be
subject to a condemnation proceeding prior to the Closing, at Buyer’s sole option, Buyer shall have
the right to elect either to:

(a) If only one (1) of the Parcels is affected by a condemnation prior to the Closing,
(A) terminate this Agreement as it relates solely to the Parcel affected by such
condemnation and, subject to Sections 3.6, receive back the Applicable Portion of
the Deposit (and any interest accrued thereon) applicable to the subject Parcel, in which
event the Sellers and Buyer shall have no further obligations to each other under this
Agreement as it relates solely to the applicable Parcel except those provisions which
expressly survive the termination of this Agreement, or (B) acquire the Property (without
reduction in the Purchase Price) on the Closing Date, plus an assignment without recourse or
credit of any condemnation proceeds payable to such Seller(s) by virtue of such
condemnation; or

(b) If two (2) or more Parcels are affected by a condemnation prior to the Closing, (A)
terminate this Agreement as it relates solely to any one (1) or more of the Parcels affected
by such condemnations and, subject to Section 3.6, receive back the Applicable
Portion of the Deposit (and any interest accrued thereon) applicable to the Parcel(s) for
which this Agreement has been terminated, in which event the Sellers and Buyer shall have no
further obligations to each other under this Agreement as it relates solely to the Parcels
for which this Agreement has been terminated except those provisions which expressly survive
the termination of this Agreement, and acquire all remaining Property as is on the Closing
Date; provided, however, that there shall be no reduction in the Purchase
Price for any Parcels that have been the subject of a condemnation proceeding but that Buyer
elects to purchase regardless, but for which Buyer will receive an assignment without
recourse or credit of any condemnation proceeds payable to such Seller(s) with respect to
such Parcels affected by a condemnation, or (B) terminate this Agreement in its entirety and
receive back the Deposit (and any interest accrued thereon), in which event the Sellers and
Buyer shall have no further obligations to each other under this Agreement except those
provisions which expressly survive the termination of this Agreement.

In the event Buyer has any right to terminate any portion of this Agreement under Section
7.2(a) above, then Buyer shall be deemed to have elected to proceed under
Section 7.2(a)(A) unless, within thirty (30) days from Buyer’s receipt of written notice of
the condemnation, Buyer provides Sellers with written notice that Buyer elects to proceed under
Section 7.2(a)(B). In the event Buyer has any right to terminate any portion of this
Agreement under Section 7.2(b) above, then Buyer shall be deemed to have elected to
terminate this Agreement in its entirety under Section 7.2(b)(B) unless, within thirty (30)
days from Buyer’s receipt of written notice of the latest condemnation, Buyer provides Sellers with
written notice that Buyer elects to proceed under Section 7.2(b)(A).

ARTICLE 8

REAL ESTATE COMMISSION

Buyer and the Sellers each represent to the other that no broker’s or real estate commissions
or other finder’s fees are or shall be due in respect to this transaction by reason of any
agreement made or which may be alleged to have been made by Buyer or any Seller. Each party agrees
to indemnify and hold harmless the other from and against any and all claims, demands or the cost
or expense thereof, including reasonable attorney’s fees, arising out of any broker’s commission,
fee or other compensation due or alleged to be due in connection with the transactions contemplated
by this Agreement based upon an agreement alleged to have been made or other action alleged to have
been taken by the indemnifying party.

ARTICLE 9

MISCELLANEOUS

9.1 Entire Agreement. This Agreement constitutes the entire agreement between the
parties hereto with respect to the transactions contemplated herein, and it supersedes all prior
discussions, understandings or agreements between the parties, including, without limitation, that
certain letter agreement, dated November 8, 2010, between Grubb & Ellis Equity Advisors, LLC (on
behalf of Buyer) and Seavest (on behalf of the Sellers) and accepted by Seavest on November 15,
2010, and that certain letter agreement, dated January 4, 2011, between Grubb & Ellis Healthcare
REIT II (on behalf of the Buyer) and Seavest (on behalf of the Seller) and accepted by Seavest on
January 4, 2011. All Exhibits and Schedules attached hereto are a part of this Agreement and are
incorporated herein by reference.

9.2 Binding On Successors and Assigns. Subject to Section 9.3, this Agreement
shall be binding upon and inure to the benefit of the parties hereto and their respective
successors and permitted assigns.

9.3 Assignment by Buyer. Buyer shall not have the right to assign this Agreement or
their rights hereunder without Sellers’ prior written consent, which consent can be withheld in
Sellers’ sole discretion; provided, however, Buyer shall have the right to assign
this Agreement to one (1) or more Buyer Subsidiaries upon advance written notice to Sellers
(provided such Buyer Subsidiaries shall have no right to further assign this Agreement or their
rights hereunder). No further assignments shall be permitted except as provided above. Further,
Buyer shall have the right to designate a Buyer Subsidiary as recipient of a Deed, the Assignment
of Ground Lease, and other documents to be delivered by the Sellers at Closing. Any change in
control (with control meaning the power to direct the management and policies) of Buyer or any
Buyer Subsidiary prior to Closing shall constitute a prohibited assignment.

9.4 Waiver. The excuse or waiver of the performance by a party of any obligation of
the other party under this Agreement shall only be effective if evidenced by a written statement
signed by the party so excusing or waiving. No delay in exercising any right or remedy shall
constitute a waiver thereof, and no waiver by the Sellers or Buyer of the breach of any covenant of
this Agreement shall be construed as a waiver of any preceding or succeeding breach of the same or
any other covenant or condition of this Agreement.

9.5 Governing Law. This Agreement shall be governed by and construed under the
internal laws of the State of Delaware without regard to the principles of conflicts of law.

9.6 Counterparts. This Agreement may be executed in any number of counterparts and it
shall be sufficient that the signature of each party appear on one or more such counterparts. All
counterparts shall collectively constitute a single agreement. Originals transmitted by facsimile
or electronic mail shall be considered original in all respects.

9.7 Notices. All notices, demands and other communications of any type given by any
party hereunder, whether required by this Agreement or in any way related to the transaction
contracted for herein, shall be void and of no effect unless given in accordance with the
provisions of this Section 9.7. All notices shall be in writing and shall be delivered (i)
by courier; (ii) by Federal Express or other nationally recognized overnight delivery service;
(iii) by facsimile; or (iv) by e-mail. Notices delivered by facsimile or e-mail must be followed
by confirmation via Federal Express or other nationally recognized overnight delivery service.
Notices shall be deemed given and received (1) if by courier, upon delivery or refusal of same; (2)
if by Federal Express or other nationally recognized overnight delivery service, the business day
following deposit; (3) if by facsimile, upon confirmation of transmission; and (4) immediately
following e-mail transmission. Any notice received on a non-business day or after 5:00 p.m.
Pacific Time on a business day shall be deemed received on the next business day. Notices shall be
given to the following addresses:

	 	 	 
	To the Sellers (or any Seller):
	 	c/o Seavest Inc.

707 Westchester Avenue, Suite 401

White Plains, New York 10604

Attn: Jonathan Winer

Phone: 914-683-8474

Facsimile: 914-681-5182

Email: jwiner@seavestinc.com

	And with a copy to:
	 	Kleinberg, Kaplan, Wolff & Cohen, P.C.

551 Fifth Avenue

New York, New York 10176

Attn: Andrew M. Chonoles, Esq.

Phone: 212-880-9870

Facsimile: 212-986-8866

Email: achonoles@kkwc.com

	To Buyer:
	 	c/o Grubb & Ellis Equity Advisors, LLC

1551 North Tustin Avenue, Suite 200

Santa Ana, California 92705

Attn: Danny Prosky

Phone: (714) 667-8252

Facsimile: (714) 975-2199

E-mail: Danny.Prosky@Grubb-Ellis.com

	And with a copy to:
	 	Gregory Kaplan, PLC

7 East Second Street

Richmond, Virginia 23224

Attn: Joseph J. McQuade

Telephone: (804) 916-9027

Facsimile: (804) 916-9127

E-mail: jmcquade@gregkaplaw.com

	 	 	 

	To Escrow Agent to:
	 	First American Title Insurance Company

777 South Figueroa Street, Fourth Floor

Los Angeles, California 90017

Attn: Barbara Laffer

Telephone: (213) 271-1702

Facsimile: (877) 805-5021

E-mail: blaffer@firstam.com

	 	 	 

	And with a copy to:
	 	First American Title Insurance Company

633 Third Avenue

New York, New York 10017

Attn: Steve Farber

Telephone: (212) 551-9402

Facsimile: (212) 331-1576

E-mail: sfarber@firstam.com

	 	 	 

Any address or name specified above may be changed by notice given to the addressee by the
other party in accordance with this Section 9.7. The inability to deliver notice because
of a changed address of which no notice was given as provided above, or because of rejection or
other refusal to accept any notice, shall be deemed to be the receipt of the notice as of the date
of such inability to deliver or rejection or refusal to accept. Any notice to be given by any
party hereto may be given by the counsel for such party.

9.8 Attorneys’ Fees. In the event of a judicial or administrative proceeding or
action by one party against the other party with respect to the interpretation or enforcement of
this Agreement, the prevailing party shall be entitled to recover reasonable costs and expenses
including, without limitation, reasonable attorneys’ fees and expenses, whether at the
investigative, pretrial, trial or appellate level. The prevailing party shall be determined by the
court based upon an assessment of which party’s major arguments or position prevailed.

9.9 IRS Real Estate Sales Reporting. Buyer and each Seller agree that Escrow Agent
shall act as “the person responsible for closing” the transaction which is the subject of this
Agreement pursuant to Section 6045(e) of the Code and shall prepare and file all informational
returns, including without limitation, IRS Form 1099-S, and shall otherwise comply with the
provisions of Section 6045(e) of the Code.

9.10 Time Periods. If the time for performance of any obligation hereunder expires on
a day that is not a Business Day, the time for performance shall be extended to the next Business
Day.

9.11 Modification of Agreement. No modification of this Agreement shall be deemed
effective unless in writing and signed by the party against whom enforcement is sought.

9.12 Survival of Provisions After Closing. Any provisions of this Agreement that
require observance or performance after the Closing Date shall continue in force and effect
following the Closing Date, subject to any applicable limitations on survival contained herein.

9.13 Further Instruments. Each party, promptly upon the request of the other, shall
execute and have acknowledged and delivered to the other or to the Escrow Agent, as may be
appropriate, any and all further instruments reasonably requested or appropriate to evidence or
give effect to the provisions of this Agreement and which are consistent with the provisions of
this Agreement.

9.14 Descriptive Headings; Word Meaning. The descriptive headings of the
paragraphs of this Agreement are inserted for convenience only and shall not control or affect the
meaning or construction of any provisions of this Agreement. Words such as “herein,”
“hereinafter,” “hereof’ and “hereunder” when used in reference to this Agreement, refer to this
Agreement as a whole and not merely to a subdivision in which such words appear, unless the context
otherwise requires. The singular shall include the plural and the masculine gender shall include
the feminine and neuter, and vice versa, unless the context otherwise requires. The word
“including” shall not be restrictive and shall be interpreted as if followed by the words “without
limitation.”

9.15 Business Day. As used herein, the term “Business Day” means any day
other than Saturday, Sunday and any day which is a legal holiday in the State of California and/or
New York.

9.16 Construction of Agreement. This Agreement shall not be construed more strictly
against one party than against the other merely by virtue of the fact that it may have been
prepared primarily by counsel for one of the parties, it being recognized that Buyer and each
Seller have contributed substantially and materially to the preparation of this Agreement.

9.17 Severability. The parties hereto intend and believe that each provision in this
Agreement comports with all applicable local, state and federal laws and judicial decisions.
However, if any provision in this Agreement is found by a court of law to be in violation of any
applicable Delaware or federal law, statute, ordinance, administrative or judicial decision, or
public policy, or if in any other respect such a court declares any such provision to be illegal,
invalid, unlawful, void or unenforceable as written (other than provisions relating to the
“Conditions Precedent Favoring Seller” as provided for in Section 5.5 or the “Conditions
Precedent Favoring Buyer” as provided for in Section 5.4), then it is the intent of all
parties hereto that, consistent with and with a view towards preserving the economic and legal
arrangements among the parties hereto as expressed in this Agreement, such provision shall be given
force and effect to the fullest possible extent, and that the remainder of this Agreement shall be
construed as if such illegal, invalid, unlawful, void or unenforceable provision were not contained
herein, and that the rights, obligations and interests of the parties under the remainder of this
Agreement shall continue in full force and effect.

9.18 Exclusivity. After the Effective Date and until the Closing or the earlier
termination of this Agreement, each Seller and their respective agents, representatives and
employees shall immediately cease all marketing of the Property for sale until such time as this
Agreement is terminated and no Seller shall directly or indirectly make, accept, negotiate,
entertain or otherwise pursue any offers for the sale of the Property.

9.19 Section 1031 Exchange. Any party may consummate the purchase or sale of the
Property as part of a so-called like kind exchange (an “Exchange”) pursuant to Section 1031
of the Code, provided that (i) the Closing shall not be delayed or affected by reason of an
Exchange nor shall the consummation or accomplishment of any Exchange be a condition precedent or
condition subsequent to a party’s obligations under this Agreement; (ii) any party desiring an
Exchange shall effect its Exchange through an assignment of this Agreement, or its rights under
this Agreement, to a qualified intermediary and the other party shall not be required to take an
assignment of the purchase agreement for the relinquished or replacement property or be required to
acquire or hold title to any real property for purposes of consummating such Exchange; and
(iii) the party desiring an Exchange shall pay any additional costs that would not otherwise have
been incurred by Buyer or any Seller had such party not consummated its purchase or sale through an
Exchange. No party shall by this agreement or acquiescence to an Exchange desired by the other
party (1) have its rights under this Agreement, or the other party’s obligations except as provided
herein, affected or diminished in any manner or (2) be responsible for compliance with or be deemed
to have warranted to the other party that such party’s Exchange in fact complies with Section 1031
of the Code. In connection with such cooperation, each Seller agrees, upon request of Buyer to
“direct deed” for actual interests in the property to designees of Buyer.

9.20 Intentionally Omitted.

9.21 Buyer’s Disclosures. Sellers acknowledge that it is Buyer’s intention that the
ultimate acquirers of each Parcel and the related Property be subsidiaries of a corporation that is
or intends to qualify as a real estate investment trust and that, as such, it is subject to certain
filing and reporting requirements in accordance with federal laws and regulations, including but
not limited to, regulations promulgated by the Securities and Exchange Commission. Accordingly,
and notwithstanding any provision of this Agreement or the provisions of any other existing
agreement between the parties hereto to the contrary, Buyer may publically file, disclose, report
or publish any and all information related to this transaction that may be reasonably interpreted
as being required by federal law or regulation.

9.22 Confidentiality.

9.22.1 Unless and until the Closing occurs hereunder, neither Buyer nor the Sellers will make,
or permit anyone to make on their behalf, any public statement or public comment with respect to
this Agreement, the transactions contemplated hereby, that is intended for public distribution or
made to any newspaper, trade publication, or other print or other media, without the approval by
the other party as to such disclosure and the information to be disclosed, which approval shall not
be unreasonably withheld or delayed.

9.22.2 Unless and until the Closing occurs hereunder, Buyer and the Sellers, and their
respective agents shall maintain the confidentiality of all documents, instruments and information
obtained by Buyer or the Sellers, as applicable, or such agents hereunder or otherwise in
connection with the proposed acquisition of the Property and shall not, without the other party’s
prior written consent, which consent shall not be unreasonably withheld or delayed, disclose any of
such information to any other person or use any of such information for any purpose other than as
contemplated herein. Notwithstanding the foregoing, Buyer and the Sellers may disclose any of such
information (i) to the Existing Lender, the Ground Lessors, the Tenants, and their respective
officers, directors, employees, agents, attorneys, accountants, consultants and other professionals
to whom such disclosure is reasonably necessary for the investigation of the Property and/or
consummation of the transactions contemplated hereby, provided that each such person is advised to
maintain such information in a confidential manner, and (ii) as otherwise may be required by
applicable law.

9.23 Conditions to Buyer’s Recovery of Costs. In the event Sellers are required to
reimburse Buyer for its actually incurred out-of-pocket expenses (including reasonable attorneys’
fees) because Buyer terminated this Agreement in accordance with the unnumbered paragraph
immediately following Section 5.4.12, Section 6.2.1(c), or the unnumbered paragraph
immediately following Section 6.2.1(c), (a) Buyer shall provide the Sellers with a copy of
an itemization of such expenses and copies of all bills and invoices therefor, (b) the Buyer shall
have actually incurred such expenses, and (c) the liability of Sellers for such expenses shall be
equal to the lesser of (I) Two Hundred Fifty Thousand Dollars ($250,000.00) or (II) the aggregate
amount of all such expenses.

9.24 Waiver of Jury Trial. Sellers and Buyer hereby irrevocably and unconditionally
waive any and all right to trial by jury in any action, suit or counterclaim arising in connection
with, out of or otherwise relating to this Agreement. The provisions of this Section 9.24
shall survive the Closing or the termination hereof.

9.25 Venue and Jurisdiction. BUYER AND EACH SELLER HEREBY IRREVOCABLY SUBMIT TO THE
JURISDICTION OF THE STATE COURT OF DELAWARE OR ANY FEDERAL COURT SITTING IN THE JURISDICTION OF THE
STATE OF DELAWARE OVER ANY SUIT, ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT
AND AGREE THAT VENUE FOR ANY SUCH ACTION OR PROCEEDING SHALL BE IN THE STATE OF DELAWARE. BUYER
AND EACH SELLER EACH HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, ANY
OBJECTION IT MAY NOW OR HEREAFTER HAVE TO SUCH VENUE AS BEING AN INCONVENIENT FORUM.

9.26 Further Assurances. Subsequent to Closing, each party shall execute and deliver
to the other such further documents and instruments as either party may reasonably request of the
other in order to confirm or implement the terms of this Agreement (provided the same does not
increase the liability of the party so being requested to execute and deliver such further
instruments or documents).

[Remainder of page intentionally left blank; signatures to follow on next pages.]

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

SELLERS:

TMB-ALICE, L.P., a Delaware limited partnership

By: SMP-General Partner, LLC,

a Delaware limited liability company, its General Partner

By: Seavest Properties I, LLC,

a Delaware limited liability company, its Managing Member

By: SP I Manager, LLC,

a Delaware limited liability company, its Managing Member

By: Seavest Inc.,

a New York corporation, its Non-Member Manager

By: /s/ Douglas F. Ray

Name: Douglas F. Ray

Its: President

CARLSBAD-TMB, LLC, a Delaware limited liability company

By: Seavest Properties I, LLC,

a Delaware limited liability company, its Managing Member

By: SP I Manager, LLC,

a Delaware limited liability company, its Managing Member

By: Seavest Inc.,

a New York corporation, its Non-Member Manager

By: /s/ Douglas F. Ray

Name: Douglas F. Ray

Its: President

HOBBS-TMB, LLC, a Delaware limited liability company

By: Seavest Properties I, LLC,

a Delaware limited liability company, its Managing Member

By: SP I Manager, LLC,

a Delaware limited liability company, its Managing Member

By: Seavest Inc.,

a New York corporation, its Non-Member Manager

By: /s/ Douglas F. Ray

Name: Douglas F. Ray

Its: President

HOPE-TMB, LLC, a Delaware limited liability company

By: Seavest Properties I, LLC,

a Delaware limited liability company, its Managing Member

By: SP I Manager, LLC,

a Delaware limited liability company, its Managing Member

By: Seavest Inc.,

a New York corporation, its Non-Member Manager

By: /s/ Douglas F. Ray

Name: Douglas F. Ray

Its: President

TMB-LAKE CHARLES, L.P., a Delaware limited partnership

By: SMP-General Partner, LLC,

a Delaware limited liability company, its General Partner

By: Seavest Properties I, LLC,

a Delaware limited liability company, its Managing Member

By: SP I Manager, LLC,

a Delaware limited liability company, its Managing Member

By: Seavest Inc.,

a New York corporation, its Non-Member Manager

By: /s/ Douglas F. Ray

Name: Douglas F. Ray

Its: President

TMB-LUFKIN, L.P., a Delaware limited partnership

By: SMP-General Partner, LLC,

a Delaware limited liability company, its General Partner

By: Seavest Properties I, LLC,

a Delaware limited liability company, its Managing Member

By: SP I Manager, LLC,

a Delaware limited liability company, its Managing Member

By: Seavest Inc.,

a New York corporation, its Non-Member Manager

By: /s/ Douglas F. Ray

Name: Douglas F. Ray

Its: President

VICTORIA-TMB, L.P., a Delaware limited partnership

By: Victoria General Partner, LLC,

a Delaware limited liability company, its General Partner

By: Seavest Properties I, LLC,

a Delaware limited liability company, its Managing Member

By: SP I Manager, LLC,

a Delaware limited liability company, its Managing Member

By: Seavest Inc., a New York corporation, its Non-Member Manager

By: /s/ Douglas F. Ray

Name: Douglas F. Ray

Its: President

TMB-I, L.P., a Delaware limited partnership

By: SMP-General Partner, LLC,

a Delaware limited liability company, its General Partner

By: Seavest Properties I, LLC,

a Delaware limited liability company, its Managing Member

By: SP I Manager, LLC,

a Delaware limited liability company, its Managing Member

By: Seavest Inc.,

a New York corporation, its Non-Member Manager

By: /s/ Douglas F. Ray

Name: Douglas F. Ray

Its: President

1

BUYER:

G&E HC REIT II DIXIE-LOBO MOB PORTFOLIO, LLC,

a Delaware limited liability company

By: Grubb & Ellis Healthcare REIT II Holdings, LP,

a Delaware limited partnership

Its: Sole Member

By: Grubb & Ellis Healthcare REIT II, Inc.,

a Maryland corporation

Its: General Partner

By: /s/ Danny Prosky

Name: Danny Prosky

Title: President and Chief Operating Officer

CONSENT OF ESCROW AGENT

The undersigned Escrow Agent hereby agrees to (i) accept the foregoing Agreement, (ii) be
Escrow Agent under said Agreement and (iii) be bound by said Agreement in the performance of its
duties as Escrow Agent; provided, however, the undersigned shall have no
obligations, liability or responsibility under (i) this Consent or otherwise unless and until said
Agreement, fully signed by the parties, has been delivered to the undersigned or (ii) any amendment
to said Agreement unless and until the same shall be accepted by the undersigned in writing.

DATED: March 21, 2011

First American Title Insurance Company (“Escrow Agent”)

By: /s/ Barbara Laffor

Name: Barbara Laffor

Its: Escrow Officer

2esph_ex42.htm

EXHIBIT 4.2

 

Ecosphere Technologies, Inc.

Amendment to the 2006 Amended and Restated Equity Incentive Plan

(Effective March 21, 2011)

Amendment to the 2006 Amended and Restated Equity Incentive Plan

Section 4 shall be deleted and replaced by the following:

The Common Stock subject to Stock Rights shall be authorized but unissued shares of Common Stock, par value $0.01, or shares of Common Stock reacquired by the Company in any manner, including purchase, forfeiture or otherwise. The aggregate number of shares of Common Stock which may be issued pursuant to the Plan is 30,000,000 subject to adjustment as provided in Section 14. Any such shares may be issued under ISOs, Non-Qualified Options, Restricted Stock, RSUs or SARs, so long as the number of shares so issued does not exceed the limitations in this Section. If any Stock Rights granted under the Plan shall expire or terminate for any reason without having been exercised in full or shall cease for any reason to be exercisable in whole or in part, or if the Company shall reacquire any unvested shares, the unpurchased shares subject to such Stock Rights and any unvested shares so reacquired by the Company shall again be available for grants under the Plan.

Section 15(a) shall be deleted and replaced by the following:

An Option or SAR (or any part or installment thereof) shall be exercised by giving written notice to the Company at its principal office address. Such notice shall identify the Stock Right being exercised and specify the number of shares as to which such Stock Right is being exercised, accompanied by full payment of the exercise price therefor either (i) in United States dollars by check or wire transfer (to the extent it is exercisable in cash); or (ii) (A) through delivery to the Company (either by actual delivery or attestation) of shares of Common Stock having a Fair Market Value equal as of the date of the exercise to the cash exercise price of the Stock Right; (B) by a reduction in the number of shares otherwise deliverable pursuant to the Stock Right provided that it is in accordance with a written Stock Option Agreement; or (C) in any other form of legal consideration that may be acceptable to the Board or Compensation Committee; or (iii) by any combination of (i) and (ii) above. The holder of a Stock Right shall not have the rights of a shareholder with respect to the shares covered by his Stock Right until the date of issuance of a stock certificate to him for such shares. Except as expressly provided above in Section 14 with respect to changes in capitalization and stock dividends, no adjustment shall be made for dividends or similar rights for which the record date is before the date such stock certificate is issued.

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