Document:

<![CDATA[Amendment No. 1 to the Amended & Restated Purchase Agreement]]>

 Exhibit 10.3 

EXECUTION VERSION 
 AMENDMENT NO. 1 TO 
 AMENDED AND RESTATED PURCHASE AGREEMENT

 This AMENDMENT NO. 1 TO AMENDED AND RESTATED PURCHASE AGREEMENT (this “Amendment”), dated as of
March 30, 2012, is made and entered into by and among each of the entities set forth under the heading “Purchasers” on the signature pages hereto (the “Purchasers”), each of the entities set forth under the
heading “Sellers” on the signature pages hereto (the “Sellers”), BDC/West Covina II, LLC (the “Regency Grand Seller”) and Walter C. Bowen (“Bowen”). The Purchasers, the Sellers, the
Regency Grand Seller and Bowen are sometimes referred to herein individually as a “Party” and collectively as the “Parties”. 
 W I T N E S S E T H 
 WHEREAS, the Parties desire to amend that certain Amended and Restated Purchase Agreement, dated as of February 27, 2012, by and among the Purchasers and the Sellers named therein and Walter
C. Bowen (“Bowen”) (for purposes of Sections 4.12, 4.17 and 6.10 and Article XI of the Agreement only) (“Agreement”) in order to, among other things, acknowledge and clarify that the Purchasers shall no longer be
purchasing from the Regency Grand Seller, and the Regency Grand Seller shall no longer be selling to the Purchasers, the Assets (as defined in the Original Agreement) of the Regency Grand Seller. 

NOW, THEREFORE, in consideration of the mutual covenants and agreements contained herein and other good and valuable
consideration, the receipt, adequacy and sufficiency of which are hereby acknowledged, the undersigned hereby agree as follows: 

1. Interpretation. Capitalized terms used but not defined herein shall have the meanings ascribed to such terms in the
Agreement. 
 2. Closing Deadline Date. “Closing Deadline Date” as used in the Agreement shall hereby be
defined as June 15, 2012. 
 3. Hard Date. “Hard Date” as used in the Agreement shall hereby be
defined as May 15, 2012. 
 4. Notification Date. “Notification Date” as used in the Agreement
shall hereby be defined as May 15, 2012; provided that each reference to “Notification Date” in (i) Section 4.8(d) of the Agreement shall be deemed to refer to refer to March 31, 2012 and (ii) Sections 5.1 and
6.11 of the Agreement shall be deemed to refer to April 15, 2012. 
 5. Purchase Price. The first sentence of
Section 1.3 of the Agreement is hereby amended and restated in entirety as follows: 

 “The purchase price for the Assets shall be One Hundred Forty-Three Million Three
Hundred Thousand Dollars ($143,300,000) (the “Purchase Price”), subject to the prorations and further adjustments as provided for in this Agreement.” 
 6. Payment of Purchase Price. The first sentence of Section 1.5 of the Agreement is hereby amended and restated in its entirety as follows: 

“At the Closing, the Purchasers shall pay the Purchase Price, adjusted for any prorations, credits and additions for the benefit of
the Purchasers or the Sellers as specified in Article IX.” 
 7. Assumed Liabilities. Section 1.6
of the Agreement is hereby amended and restated in its entirety as follows: 
 “Assumed Liabilities. At the Closing,
no Purchaser shall assume any liabilities or obligations of any Seller whatsoever, fixed or contingent, and the Sellers shall retain and discharge in the ordinary course all liabilities and obligations of the Sellers, other than the following
obligations which will be assumed by one or more of the Purchasers (as identified in the respective assignment documents executed at the Closing (the “Assumed Liabilities”)): liabilities and obligations arising out of or related to
periods after the Closing, or as otherwise expressly set forth herein, with respect to the Assumed Contracts, the Assumed Equipment Leases, the Tenant Leases and all Residency Agreements.” 

8. Capital Expenditures. Section 4.19 of the Agreement is hereby amended and restated in its entirety as follows:

 “The Sellers shall complete all repairs and replacements otherwise required to maintain each Facility in its condition
as of August 25, 2011 (reasonable wear and tear excepted), including ordinary course maintenance, using materials and labor, all consistent with the remainder of such Facility; provided, however, that the Sellers shall not be
obligated to make any capital project expenditures for any repair or replacement the need for which first arises or results from any event that occurs after April 30, 2012 unless such repair or replacement, if not immediately completed, could
reasonably be expected to (i) result in the loss of life, limb or other material physical harm to any occupant, employee or other Person lawfully at the Facility, or (ii) result in a catastrophic failure with respect to the overall
property level operations (in each case, an “Emergency Repair”); provided, further, for the purposes of this Section 4.19, (x) such obligations shall not include any repair or replacement to the extent
in excess of that immediately necessary to remedy the condition giving rise to the grounds for an Emergency Repair, and (y) the Sellers shall be solely obligated to make repair or replacement necessitated, in whole or in part, as the result of
the Sellers’ breach of this Agreement (including pursuant to this Section 4.19(a)). Each Seller will cause such work to be completed in a good and workmanlike manner and in accordance with Applicable Law. All of the work, repairs,
replacements and capital projects contemplated by this Section 4.19 shall be at the sole cost and expense of Seller.” 

  
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 9. Delivery of Documents. Section 4.21 of the Agreement is hereby amended
and restated in its entirety as follows: 
 “Delivery of Documents. Prior to the Effective Date, the Sellers
delivered to the Purchasers or at the Sellers’ election made available to the Purchasers in the data room set up by the Sellers for the Purchasers to conduct their due diligence review of the Assets, true and complete copies of all documents
listed on any sections of the Disclosure Letter, including all Licenses, Contracts, Residency Agreements, Leases, Employee Benefit Plans, the financial statements and records contemplated by Section 2.20.” 

10. Assumed Contracts and Assumed Equipment Leases. Section 5.1 of the Agreement is hereby amended to insert the
following sentence immediately following the first sentence of such Section: 
 “On or prior to April 15, 2012, the
Purchasers shall provide to the Sellers an assignment request letter for each Contract and Equipment Lease that is not a Rejected Contract, substantially in the form attached hereto as Exhibit 5.1(b), which assignment request letters the
Sellers shall promptly deliver to all parties under such Contracts and Equipment Leases (it being understood that the Purchasers and the Sellers hereby waive any confidentiality rights related to such communications). To the extent that the
applicable counterparties are unwilling to enter into agreements with respect to any such Contract or Equipment Lease, if Purchasers desire the benefits of such Contract or Equipment Lease, Purchasers and Sellers shall negotiate in good faith a
mutually agreeable alternative arrangement, that is feasible under the terms of the respective Contract or Equipment Lease, so that the Purchasers or their designee(s) will have the benefits and obligations of such Contract or Equipment Lease as
though it had been assigned, which arrangement shall include that the Purchasers shall indemnify Sellers with respect to Sellers’ payment and performance obligations under such Contract or Equipment Lease.” 

11. Closing Conditions. Section 8.2(d) of the Agreement is hereby amended and restated in its entirety as follows:

 “Each of the consents, authorizations, and approvals listed on Section 8.2(d) of the Disclosure Letter previously
obtained by Seller shall be in full force and effect.” 
 12. Expenses. Section 11.5 of the Agreement is
hereby amended to insert the following sentence at the end of such Section: 
 “For the avoidance of doubt, the Purchasers
shall bear all costs and expenses relating to services provided by The Nathanson Group PLLC and Hanson Bridgett LLP in connection with the transactions completed by this Agreement.” 

13. Regency Grand. The Parties agree that (i) the Regency Grand Seller shall hereby be deemed a “Former
Seller” under the Agreement, (ii) each of Section 1.4(d), Section 2.7(d) and Section 5.2 of the Agreement is hereby amended and restated in its entirety as follows: 

  
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 “[Intentionally Omitted]” 

and (iii) the third sentence of Section 4.8(b) of the Agreement is amended in its entirety as follows: 

“Notwithstanding the foregoing, the Purchasers shall not have the right to disapprove any of the following, all of which (together
with all matters deemed approved by Purchasers pursuant to terms hereof) shall be deemed to be “Permitted Liens” hereunder: (A) matters created or consented to in a separate written consent by the Purchasers, (B) the
Assumed Liabilities, (C) all liens of real estate taxes, assessments, water rates, water meter charges, water frontage charges and sewer taxes, rents and charges, if any, provided that such items are not due and payable and are apportioned as
provided in this Agreement and/or (D) any matter reflected in any Initial Commitment (excluding any lien securing payment or repayment of a fixed or readily determinable amount, which amount shall be paid by the Seller, and such lien shall be
released, at Closing) or any Initial Survey.” 
 14. Exhibits. The Parties agree that Exhibits A,
B, C, D, E, F, G, H, I and J hereto hereby replace Exhibits 1.0, 1.1(a), 1.7, 4.8(a), 4.17, 5.1(a), 5.1(b), 5.6(a), 5.6(b) and 6.10(a) to the Agreement, respectively and that Exhibit 5.2
is deleted. 
 15. Disclosure Letter. The Parties agree that the Disclosure Letter is hereby amended as follows:
(i) all reference to Regency Grand and disclosures exclusively related to Regency Grand are hereby deleted; (ii) Section 2.7(d) is hereby deleted in its entirety, (iii) the schedule attached hereto as Exhibit K is
hereby deemed to be attached to Section 2.23(h) of the Disclosure Letter and (iv) the schedule attached hereto as Exhibit L is hereby deemed to be included in the Disclosure Letter as Section 8.2(d) thereof. The Disclosure
Letter, as modified by this paragraph 15, shall be deemed to have been delivered on February 27, 2012. 
 16. Entire
Agreement; Full Force and Effect. This Amendment and (subject to the amendment in this Amendment) the Agreement (together with the Disclosure Letter (as amended and restated) and the exhibits and other documents delivered pursuant thereto)
and the Confidentiality Agreement constitute the entire agreement between the Parties with respect to the subject matter hereof and thereof and shall supersede all previous negotiations, commitments, agreements and understandings (both oral and
written) with respect to such subject matter. Except as amended or modified hereby, each term and provision of the Agreement is hereby ratified and confirmed and will and does remain in full force and effect. 

  
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 17. Counterparts. This Amendment may be executed by facsimile signature and in
two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. 
 [Remainder of page intentionally left blank.] 

  
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 IN WITNESS WHEREOF, the Parties have caused this Amendment to be executed as of the
date first written above by their respective officers thereunto duly authorized. 
 SELLERS: 

 

							
	[Regent Court]	 		 	Regent/Corvallis, LLC, an Oregon limited liability company
				
		 		 	By:  	 	/s/ Walter C. Bowen
		 		 		 	Walter C. Bowen, Manager 
		 		 		 	
	[Desert Flower]	 		 	Desert Flower LLC, an Oregon limited liability company
				
		 		 	By:  	 	/s/ Walter C. Bowen
		 		 		 	Walter C. Bowen, Managing Member
		 		 		 	
	[Sun Oak]	 		 	BPM/Citrus Heights Limited Partnership, an Oregon limited partnership
				
		 		 	By:  	 	Hambledon Investments, LLC, an
		 		 	Oregon limited liability company, its General Partner

									
					
		 		 		 	By:  	 	/s/ Walter C. Bowen
		 		 		 		 	Walter C. Bowen, Manager

									
	[Sunshine Villa]	 		 	Cornell Springs Partners, an Oregon joint venture, co-tenant
			
		 		 	By: Cornell Springs Apartments Limited Partners, an Oregon limited partnership, a joint venturer
					
		 		 		 	By:  	 	/s/ Walter C. Bowen
		 		 		 		 	Walter C. Bowen, General Partner
				
		 		 	By:  	 	BDC/Santa Cruz, LLC, a joint venturer
					
		 		 		 	By:  	 	/s/ Walter C. Bowen
		 		 		 		 	Walter C. Bowen, Manager
		 		 		 		 	
		 		 	 Regent/Eugene, LLC, an Oregon limited liability company,
 co-tenant

				
		 		 	By:  	 	/s/ Walter C. Bowen
		 		 		 	Walter C. Bowen, Manager
		 		 		 	
	[Canyon Creek]	 		 	Regent/Salt Lake, LLC, an Oregon limited liability company
			
		 		 	By: Hambledon Investments, LLC, an Oregon limited liability company
					
		 		 		 	By:  	 	/s/ Walter C. Bowen
		 		 		 		 	Walter C. Bowen, Manager
		 		 		 		 	
	[Sheldon Park]	 		 	 Regent/Eugene, LLC, an Oregon limited liability company,
 co-tenant

					
		 		 		 	By:  	 	/s/ Walter C. Bowen
		 		 		 		 	Walter C. Bowen, Manager

  
 7 

							
	[Willow Park]	 		 	Regent/Boise, LLC, an Oregon limited liability company
				
		 		 	By:  	 	/s/ Walter C. Bowen
		 		 		 	Walter C. Bowen, Manager

  

							
	[Orchard Park]	 		 	RAL/Clovis, Inc., an Oregon corporation
				
		 		 	By:  	 	/s/ Walter C. Bowen
		 		 		 	Walter C. Bowen, CEO

  
 8 

 REGENCY GRAND SELLER: 

 

							
	[Regency Grand at West Covina]	 		 	BDC/West Covina II, LLC, an Oregon limited liability company
				
		 		 	By:  	 	/s/ Walter C. Bowen
		 		 		 	Walter C. Bowen, Manager

  
 9 

					
	PURCHASERS:	 	
		
	B Healthcare Properties LLC, a Delaware limited liability company	 	
			
	By:	 	/s/ Andrew White	 	

  
 10 

	
	
	/s/ Walter C. Bowen
	Walter C. Bowen

  
 11 

 Exhibit A 
 EXHIBIT 1.0 
 FORMER SELLERS 

 

			
	 SELLER
	  	 FACILITY

	BDC/Las Vegas, LLC, an Oregon limited liability company	  	 Acacia Springs
 8630 W. Nevso
Drive
 Las Vegas, NV 89147

		
	BDC/Las Vegas Three, LLC, an Oregon limited liability company	  	 Heritage Springs
 8720 West
Flamingo Road
 Las Vegas, NV 89147

		
	BDC/Riverside, LLC, an Oregon limited liability company	  	 Magnolia Village
 8537 Magnolia
Avenue
 Riverside, CA 92504

		
	Sterling Park, L.L.C., a Washington limited liability company	  	 Overlake Terrace
 2956 l52nd
Avenue NE
 Redmond, WA 98052

		
	Regency Park Apartments Limited Partnership, an Oregon limited partnership	  	 Regency Park
 8300 S.W. Barnes
Road
 Portland, OR 97225

		
	BDC/Corvallis, LLC, a Delaware limited liability company	  	 The Regent
 440 NW Elks
Drive
 Corvallis, 0R 97330

		
	BDC/West Covina II, LLC, an Oregon limited liability company	  	 Regency Grand at West Covina

150 South Grand Avenue
 West Covina, CA
91791

 EXHIBIT A—1.0 FORMER SELLERS 

 Exhibit B 
 EXHIBIT 1.1(a) 
 FACILITY DETAIL 

 

					
	 FACILITY
	  	 SELLER
	  	 PURCHASER

	 Canyon Creek
 7235 South Union
Park Avenue
 Cottonwood, Heights, UT 84047
	  	Regents/Salt Lake, LLC, an Oregon limited liability company	  	 B Healthcare Properties LLC, a

Delaware limited liability company

			
	 Desert Flower
 9185 East Desert
Cove
 Scottsdale, AZ 85260
	  	Desert Flower LLC, an Oregon limited liability company	  	 B Healthcare Properties LLC, a

Delaware limited liability company

			
	 Orchard Park
 675 Alluvial
Avenue
 Clovis, CA 93611
	  	RAL/Clovis, Inc., an Oregon corporation	  	 B Healthcare Properties LLC, a

Delaware limited liability company

			
	 Regent Court
 400 N. W. Elks
Drive
 Corvallis, OR 97330
	  	Regent/Corvallis, LLC, an Oregon limited liability company	  	 B Healthcare Properties LLC, a

Delaware limited liability company

			
	 Sheldon Park
 2440 Willakenzie
Road
 Eugene, OR 97401
	  	Regent/Eugene, LLC, an Oregon limited liability company; and Christine Investments, LLC, an Oregon limited liability company	  	 B Healthcare Properties LLC, a

Delaware limited liability company

			
	 Sun Oak
 7241 Canelo Hills
Drive
 Citrus Heights, CA 95610
	  	BPM/Citrus Heights Limited Partnership, an Oregon limited partnership	  	 B Healthcare Properties LLC, a

Delaware limited liability company

			
	 Sunshine Villa
 80 Front
Street
 Santa Cruz, CA 950ó0
	  	Cornell Springs Partners, an Oregon joint venture; and Regent/Eugene, LLC, an Oregon limited liability company	  	 B Healthcare Properties LLC, a

Delaware limited liability company

			
	 Willow Park
 2600 North
Milwaukee Street
 Boise, ID 83704
	  	Regent/Boise, LLC, an Oregon limited liability company	  	 B Healthcare Properties LLC, a

Delaware limited liability company

 EXHIBIT B—1.1(a) FACILITY DETAIL 

 Exhibit C 
 EXHIBIT 1.7 
 ALLOCATION OF PURCHASE PRICE 

 

													
	Total	  	Real	 	  	Pers Prop	 	  	 	 
	 Desert Flower
	  	$	25,000,000	  	  	$	24,600,000	  	  	$	400,000	  
	 Sheldon Park
	  	$	24,400,000	  	  	$	23,900,000	  	  	$	500,000	  
	 Regent Court
	  	$	8,800,000	  	  	$	8,500,000	  	  	$	300,000	  
	 Orchard Park
	  	$	18,600,000	  	  	$	18,250,000	  	  	$	350,000	  
	 Canyon Creek
	  	$	20,000,000	  	  	$	19,650,000	  	  	$	350,000	  
	 Willow Park
	  	$	17,600,000	  	  	$	17,250,000	  	  	$	350,000	  
	 Sun Oak
	  	$	4,300,000	  	  	$	4,100,000	  	  	$	200,000	  
	 Sunshine Villa
	  	$	24,600,000	  	  	$	24,100,000	  	  	$	500,000	  
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 
	 Total
	  	$	143,300,000	  	  	$	140,350,000	  	  	$	2,950,000	  

 EXHIBIT C—1.7 ALLOCATION OF PURCHASE PRICE 

 Exhibit D 
 EXHIBIT 4.8(a) 
 TITLE COMMITMENTS & SURVEYS

 1. Canyon Creek 
 Title Insurance Commitment prepared by Commonwealth Land Title Insurance Company, with an effective date of August 15, 2011, bearing Order No. F-82276F 

Survey made by VanWagoner and Associates, dated June 28, 2000 
 2. Desert Flower 
 Title Insurance Commitment prepared by Commonwealth Land
Title Insurance Company, with an effective date of September 29, 2011, bearing Order No. 00963086-040-SA3 
 Survey
made by J.G. Ellis Land Surveying Services, dated August 13, 1999 
 3. Orchard Park 

Title Insurance Commitment prepared by Chicago Title Company, with an effective date of August 18, 2011, bearing Title
No. 11-44111494-TL 
 Survey made by Edward D. Dunkel and Associates, dated December 15, 2000 

4. Regent Court 
 Title
Insurance Commitment prepared by Ticor Title Company, with an effective date of August 24, 2011, bearing Order No. 471811013728-TTMIDWIL18, Supplement 1 
 Survey made by Thurston & Associates, Inc., dated July 26, 1999 
 5. Sheldon Park

 Title Insurance Commitment prepared by Western Title & Escrow Company of Lane County, as agent for Fidelity
National Title Insurance Company, with an effective date of August 10, 2011, bearing Order No. 49235 
 Survey made by
SS&W Inc.-Engineers, dated August 16, 2005 
 6. Sun Oak 

Title Insurance Commitment prepared by Chicago Title Company, with an effective date of August 8, 2011, bearing Title
No. 11-31017739-DP 
 Survey made by J.V. Surveying, LLC, dated October 28, 2011 

7. Sunshine Villa 
 Title
Insurance Commitment prepared by Chicago Title Insurance Company, with an effective date of July 27, 2011, bearing Title No. 11-52303279-A-MM 
 Survey made by Dunbar and Craig, dated December, 2000 
 8. Willow Park 

Title Insurance Commitment prepared by Fidelity National Title Insurance Company, with an effective date of August 25, 2011, bearing
Order No. 1072901 
 Survey made by Tealey’s Land Surveying, dated September 2000 

EXHIBIT D—4.8(a) TITLE COMMITMENTS & SURVEYS 

 Exhibit E 
 EXHIBIT 4.17 
 EXCEPTIONS TO NON-COMPETE 

1. Acacia Springs 
 8630 W. Nevso Drive

 Las Vegas, NV 89147 
 2. Heritage
Springs 
 8720 West Flamingo Road 

Las Vegas, NV 89147 
 3. Magnolia Village

 8537 Magnolia Avenue 
 Riverside,
CA 92504 
 4. Overlake Terrace 

2956 l52nd Avenue NE 
 Redmond, WA 98052

 5. Regency Grand 
 150 South
Grand Avenue 
 West Covina, CA 91791 

6. Regency Palms 
 3985 South Pearl
Street 
 Las Vegas, Nevada 89121 

7. Regency Park 
 8300 S.W. Barnes Road

 Portland, OR 97225 
 8. Royalton
Place 
 5555 S.E. King Road 

Milwaukie, Oregon 97222 
 9. The Regent

 440 NW Elks Drive 
 Corvallis, 0R
97330 
 EXHIBIT E—4.17 EXCEPTIONS TO NON-COMPETE 

	10.	Waterford Grand  

 475 Alexander Loop

 Eugene, Lane County, Oregon 97401 

EXHIBIT E—4.17 EXCEPTIONS TO NON-COMPETE 

 Exhibit F 
 EXHIBIT 5.1(a) 
 CABLE CONTRACTS 

Canyon Creek 
  

	 	•	 	 Services Agreement dated December 18, 2009, between Comcast of Utah II, Inc. and Canyon Creek Assisted Living 

 

	 	•	 	 Grant of Easement dated December 18, 2009, between Comcast of Utah II, Inc. and Canyon Creek Assisted Living (exhibit to Services
Agreement) 

  

	 	•	 	 Bulk Bill Addendum dated December 18, 2009, between Comcast of Utah II, Inc. and Canyon Creek Assisted Living 

 

	 	•	 	 Compensation Agreement dated             , 2009, between Comcast of Utah II, Inc.
and Canyon Creek Assisted Living 

 Desert Flower 

 

	 	•	 	 Services and Access Agreement dated             , 2011, between CoxCom, d/b/a Cox
Communications and Desert Flower, LLC 

  

	 	•	 	 Bulk Services Agreement dated August 1, 2006, between CoxCom, d/b/a Cox Communications Phoenix and Desert Flower, LLC

  

	 	•	 	 Grant of Easement and Memorandum of Agreement dated August 1, 2006, between CoxCom, d/b/a Cox Communications Phoenix and Desert Flower,
LLC, recorded as Instrument No. 2006-1117660 

 Orchard Park 

 

	 	•	 	 Bulk Service Agreement dated September 21, 2005, between BPM/Orchard Park and Comcast of Fresno, Inc. 

 

	 	•	 	 Grant of Easement dated September 21, 2005, between BPM/Orchard Park and Comcast of Fresno, Inc. (exhibit to Bulk Services Agreement)

 Regent Court 
  

	 	•	 	 Agreement for Grant of Easement dated March 1, 2000, between Regent Assisted Living, Inc. and TCI Cablevision of Oregon, Inc. and any
entity controlling, controlled by or under common control with AT&T Corp., recorded as Document No. M-287811-00 

  

	 	•	 	 Agreement for Grant of Easement dated March 1, 2000, between Regent Assisted Living, Inc. and TCI Cablevision of Oregon, Inc. and any
entity controlling, controlled by or under common control with AT&T Corp., recorded as Document No. M-283673-00 

Sheldon Park 
  

	 	•	 	 Broadband Easement and Right of Entry Agreement dated January 7, 1998, between TCI of Oregon, Inc. and Regent Assisted Living, recorded as
Document No. 9815058 and re-recorded as Instrument No. 2000-070807 

 Sun Oak 

 

	 	•	 	 Bulk Installation and Services Agreement dated April 4, 2011, between Comcast of Sacramento I, LLC and BPM/Citrus Heights Limited
Partnership 

 EXHIBIT F—5.6(a) RETAINED EMPLOYEES 

 Exhibit F 

 

	 	•	 	 Grant of Easement dated April 4, 2010, between Comcast of Sacramento I, LLC and BPM/Citrus Heights Limited Partnership, recorded as
Instrument No. 2011-06150950 

 Sunshine Villa 

 

	 	•	 	 Commercial Service Agreement dated March 20, 1998, between United Cable Television of Santa Cruz, Inc., d/b/a TCI Cablevision of California
Inc., and Sunshine Villa 

  

	 	•	 	 Cable Television Bulk Billing Agreement dated January 28, 1991, between United Cable Television of Santa Cruz, Inc. and Sunshine Villa, and
related addendums 

  

	 	•	 	 Cable Television Easement and Maintenance Agreement dated March 19, 1991, between United Cable Television of Santa Cruz, Inc. and Sunshine
Villa Associates, recorded in Volume 4806, at Page 655 

 Willow Park 

 

	 	•	 	 Broadband Easement and Right of Entry dated November 15, 1996, between United Cable Television Corporation, d/b/a TCI Cablevision of
Treasure Valley and Health Care Property Investors, Inc. 

  

	 	•	 	 Bulk Rate Agreement dated November 15, 1996, between United Cable Television Corporation, d/b/a TCI Cablevision of Treasure Valley and
Regent Assisted Living, Inc. 

 EXHIBIT F—5.1(a) CABLE CONTRACTS 

 Exhibit G 
 EXHIBIT 5.1(b) 
 FORM OF ASSIGNMENT LETTER 

[April]     , 2012 
 VIA FEDERAL EXPRESS 

[            ] 
 [            ] 

[            ] 

 

	Re:	[Agreement(s) between applicable Seller and Addressee], dated as of [            ] (the
“Agreement(s)”). 

 Ladies and Gentlemen, 
 [Applicable Seller] (“Transferor”) has entered into a purchase agreement (the “Purchase Agreement”) with B Healthcare Properties LLC (such entity or its designee,
“Transferee”), pursuant to which Transferor and certain of its affiliates intend to convey to Transferee the Assets (as defined in the Purchase Agreement), including the conveyance to Transferee of all of Transferor’s right, title,
and interest in [Facility name] and under the Agreement(s). B Healthcare Properties LLC is an affiliate of Fortress Investment Group LLC (NYSE: FIG), a leading global investment management firm and one of the most active investors in the senior
housing market. The sale and assignment is anticipated to be effective as of 11:59 p.m. on June 15, 2012. 
 Subject to the
receipt of your consent (requested below), after the Closing Date (as defined in the Purchase Agreement), Transferee will be deemed to have automatically assumed all rights and obligations under the Agreement(s) to the extent arising after the
Closing Date. On or shortly after the Closing Date Transferee will deliver you notice that the sale has been consummated. After the Closing Date, you are advised to perform all of your duties under the Agreement(s) directly for the benefit of
Transferee. After such date, please provide all notices under the Agreement(s) to Transferee at: 
 B Healthcare Properties LLC

 c/o Fortress Investment Group LLC 
 1345 Avenue of the Americas 
 New York, New York 10105 

Attn: Kevin Krieger 
 Tel: (212) 479-1564 
 Additionally, Transferor requests your consent to
Transferor’s assignment of the Agreement(s) to Transferee in connection with the transfer of the Assets. Please indicate your consent to the aforesaid assignment of the Agreement(s) by signing on the space provided below and returning it via
fax or email to: 
 Fax: (503) 796-2900 (Attn: Brandan Chambers) 

Email: bchambers@schwabe.com (Subject: BPM Consent to Assignment.) 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

 Thank you for your business relationship with [Facility name]. We wish you the best
in the future and appreciate your assistance in this matter. Should you have any questions regarding this request, please contact Matt Bisturis at 360-905-1113 or mbisturis@schwabe.com. 

 

			
	 Very Truly Yours,

[Applicable Seller]

		
	By:  	 	 
	 Name:
 Title:
	 	

 CONSENT 
 The undersigned hereby irrevocably 
 consents to the assignment of the 

Agreement(s) to Transferee in connection 
 with
the transfer of the Assets. 
  

			
	By:	 	 
	Name:	 	 
	Title	 	 
	Dated:	 	 

 Exhibit H 
 EXHIBIT 5.6(a) 
 RETAINED EMPLOYEES 

Walter C. Bowen 
 Dennis Parfitt 

Steve Gish 
 Barclay Grayson 

Michael Baugh 
 Francesca Barrett 

Blair Martini 
 Pat Youngren 

Alma Metternich 
 All employees located at
facilities operated by BPMSL other than the Facilities. 
 EXHIBIT G—5.6(a) RETAINED EMPLOYEES 

 Exhibit I 
 EXHIBIT 5.6(b) 
 NON-SOLICIT EMPLOYEES 

Any employee of BPMSL 
 Barclay Grayson

 EXHIBIT H—5.6(b) NON-SOLICIT EMPLOYEES 

 Exhibit J 
 EXHIBIT 6.10(a) 
 BPMSL AFFILIATES 

 

	1.	Bowen Property Management Company 

  

	2.	BPM Senior Living Company 

  

	3.	BDC Advisors, LLC 

  

	4.	BDC/Las Vegas II, LLC (Regency Palms) 

  

	5.	BDC/Milwaukie, LLC (Royalton Place) 

  

	6.	BDC/Eugene, LLC (Waterford Grand) 

  

	7.	BDC/Bend, LLC 

  

	8.	BDC/Las Vegas, LLC (Acacia Springs) 

  

	9.	BDC/Las Vegas Three, LLC (Heritage Springs) 

  

	10.	BDC/Riverside, LLC (Magnolia Village) 

  

	11.	Sterling Park, L.L.C., (Overlake Terrace) 

  

	12.	Regency Park Apartments Limited Partnership (Regency Park) 

  

	13.	BDC/Corvallis, LLC (The Regent) 

  

	 	14.	All apartments (not assisted living facilities) owned by Walter C. Bowen 

  

	15.	BDC/Portland Self Storage, LLC 

  

	16.	NW 16th Storage, LLC. 

  

	17.	BDC/West Covina II, LLC (Regency Grand at West Covina) 

 EXHIBIT I—6.10(a) BPMSL AFFILIATES 

 Exhibit K 
 Attachment to Section 2.23(h) of Disclosure Letter 
 See Attached 

EXHIBIT J 

 Exhibit K 
 SECTION 8.2 
 Section 8.2(d): 

 

	 	•	 	 Sheldon Park: The Purchase Agreement is not binding on Christine Investments, LLC without the written consent of the co-tenant Christine
Investments, LLC, an Oregon limited liability company. This consent has been obtained, subject to no decrease in the Purchase Price allocation to Sheldon Park set forth in Exhibit 1.7 to the Purchase Agreement, other than for such prorations and
adjustments as otherwise provided for in the Purchase Agreement. 

 EXHIBIT KAmendment No. 2 to the Amended and Restated Purchase Agreement

 Exhibit 10.4 
 EXECUTION VERSION 
 AMENDMENT NO. 2 TO 

AMENDED AND RESTATED PURCHASE AGREEMENT 
 This AMENDMENT NO. 2 TO AMENDED AND RESTATED PURCHASE AGREEMENT (this “Amendment”), dated as of April 11, 2012, amends that certain Amended and Restated Purchase Agreement, dated as
of February 27, 2012, by and among the Purchasers and the Sellers named therein and Walter C. Bowen (“Bowen”) (for purposes of Sections 4.12, 4.17 and 6.10 and Article XI of the Agreement only) (as previously amended by Amendment
No. 1 to Amended and Restated Purchase Agreement, dated as of March 30, 2012, the “Agreement”). The Purchasers, the Sellers and Bowen are sometimes referred to herein individually as a “Party” and collectively as the
“Parties”. 
 W I T N E S S E T H 

WHEREAS, the Parties have reviewed the Agreement, including the exhibits thereto, and desire to acknowledge and clarify its
original intent and/or otherwise amend the Agreement by entering into this Amendment on the terms set forth below. 
 NOW,
THEREFORE, in consideration of the mutual covenants and agreements contained herein and other good and valuable consideration, the receipt, adequacy and sufficiency of which are hereby acknowledged, the undersigned hereby agree as follows:

 1. Interpretation. Capitalized terms used but not defined herein shall have the meanings ascribed to such terms
in the Agreement. 
 2. Notification Date. “Notification Date” as used in Sections 5.1 and 6.11 of the
Agreement shall hereby be deemed to refer to April 30, 2012. 
 3. Entire Agreement; Full Force and Effect.
This Amendment and (subject to the amendment in this Amendment) the Agreement (together with the Disclosure Letter (as amended and restated) and the exhibits and other documents delivered pursuant thereto) and the Confidentiality Agreement
constitute the entire agreement between the Parties with respect to the subject matter hereof and thereof and shall supersede all previous negotiations, commitments, agreements and understandings (both oral and written) with respect to such subject
matter. Except as amended or modified hereby, each term and provision of the Agreement is hereby ratified and confirmed and will and does remain in full force and effect. 
 4. Counterparts. This Amendment may be executed by facsimile signature and in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute
one and the same instrument. 
 [Remainder of page intentionally left blank.] 

 IN WITNESS WHEREOF, the Parties have caused this Amendment to be executed as of the
date first written above by their respective officers thereunto duly authorized. 
 SELLERS: 

 

							
	[Regent Court]	 		 	Regent/Corvallis, LLC, an Oregon limited liability company
				
		 		 	By:  	 	/s/ Walter C. Bowen
		 		 		 	Walter C. Bowen, Manager
		 		 		 	
	[Desert Flower]	 		 	Desert Flower LLC, an Oregon limited liability company
				
		 		 	By:  	 	/s/ Walter C. Bowen
		 		 		 	Walter C. Bowen, Managing Member
		 		 		 	
	[Sun Oak]	 		 	BPM/Citrus Heights Limited Partnership, an Oregon limited partnership
			
		 		 	By: Hambledon Investments, LLC, an Oregon limited liability company, its General Partner

							
				
		 		 	By:  	 	 /s/ Walter C. Bowen

		 		 		 	Walter C. Bowen, Manager

									
	[Sunshine Villa]	 		 	Cornell Springs Partners, an Oregon joint venture, co-tenant
			
		 		 	By: Cornell Springs Apartments Limited Partners, an Oregon limited partnership, a joint venture
					
		 		 		 	By:  	 	/s/ Walter C. Bowen
		 		 		 		 	Walter C. Bowen, General Partner
				
		 		 	By:  	 	BDC/Santa Cruz, LLC, a joint venture
					
		 		 		 	By:  	 	/s/ Walter C. Bowen
		 		 		 		 	Walter C. Bowen, Manager
		 		 		 		 	
		 		 	 Regent/Eugene, LLC, an Oregon limited liability company,
 co-tenant

				
		 		 	By:  	 	/s/ Walter C. Bowen
		 		 		 	Walter C. Bowen, Manager
		 		 		 	
	[Canyon Creek]	 		 	Regent/Salt Lake, LLC, an Oregon limited liability company
			
		 		 	By: Hambledon Investments, LLC, an Oregon limited liability company
					
		 		 		 	By:  	 	/s/ Walter C. Bowen
		 		 		 		 	Walter C. Bowen, Manager
		 		 		 		 	
	[Sheldon Park]	 		 	 Regent/Eugene, LLC, an Oregon limited liability company,
 co-tenant

					
		 		 		 	By:  	 	/s/ Walter C. Bowen
		 		 		 		 	Walter C. Bowen, Manager

							
	[Willow Park]	 		 	Regent/Boise, LLC, an Oregon limited liability company
				
		 		 	By:  	 	/s/ Walter C. Bowen
		 		 		 	Walter C. Bowen, Manager

  

							
	[Orchard Park]	 		 	RAL/Clovis, Inc., an Oregon corporation
				
		 		 	By:  	 	/s/ Walter C. Bowen
		 		 		 	Walter C. Bowen, CEO

 PURCHASERS: 
  

			
	B Healthcare Properties LLC, a Delaware limited liability company
		
	By:	 	/s/ Andrew White

	
	
	/s/ Walter C. Bowen
	Walter C. Bowen

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