Document:

Exhibit 10.6

 

SECOND AMENDMENT TO SECOND AMENDED AND RESTATED LEASE AGREEMENT

THIS SECOND AMENDMENT TO SECOND AMENDED AND RESTATED LEASE AGREEMENT (this “Amendment”) is made and entered into as of June 3, 2005 by and among each of the parties identified on the signature page hereof as landlord, as landlord (collectively, “Landlord”), and FIVE STAR QUALITY CARE TRUST, a Maryland business trust, as tenant (“Tenant”).

W I T N E S S E T H:

WHEREAS, pursuant to the terms of that certain Second Amended and Restated Lease Agreement, dated as of November 19, 2004, as amended by that certain First Amendment of Lease, dated as of May 17, 2005 (as so amended, the “Consolidated Lease”), Landlord leases to Tenant, and Tenant leases from Landlord, the Leased Property (this and other capitalized terms used but not otherwise defined herein having the meanings given such terms in the Consolidated Lease), all as more particularly described in the Consolidated Lease; and

WHEREAS, SNH CHS Properties Trust has acquired certain real property and related improvements in Omaha, Nebraska known as Westgate Assisted Living and located on the land which is more particularly described on Exhibit A-30 attached hereto (the “Westgate Property”); and

WHEREAS, SNH/LTA Properties GA LLC has acquired certain real property and related improvements in Tucker, Georgia known as Northlake Gardens and located on the land which is more particularly described on Exhibit A-80 attached hereto (the “Northlake Property”); and

WHEREAS,
SNH/LTA Properties Trust has acquired certain real property and related improvements in Nashville,
Tennessee known as Morningside of Belmont and located on the land which is more particularly described
on Exhibit A-81 attached hereto (the “Belmont Property”) and in
Greenwood, South Carolina known as Morningside of Greenwood and located on the land which is
more particularly described on Exhibit A-82 attached hereto (the “Greenwood Property,
and together with the Westgate Property, the Northlake Property and the Belmont Property,
collectively, the “Second Amendment Property”); and 

WHEREAS, SNH CHS Properties Trust, SNH/LTA Properties GA, LLC, SNH/LTA Properties Trust, the other entities comprising Landlord and Tenant wish to amend the Consolidated Lease to include the Second Amendment Property;

 

 

 

 

 

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

1.              Effective as of the date hereof, Exhibits A-30, A-80, A-81 and A-82 are hereby inserted into the Consolidated Lease as Exhibits A-30, A-80, A-81, and A-82.

2.              Effective as of the date hereof, the definition of “Additional Properties” set forth in Section 1.2 of the Consolidated Lease is hereby amended by deleting the existing definition and replacing it with the following definition:

“Additional Properties” shall mean, collectively, (i) the Properties described in Exhibits A-30 and A-68 through A-82 hereof, and (ii) the LTA GMAC Leased Property.

3.              Effective as of the date hereof, the definition of “Minimum Rent” set forth in Section 1.69 of the Consolidated Lease is hereby amended by deleting the existing definition and replacing it with the following definition:

“Minimum Rent” shall mean the sum of Twenty-Six Million Two Hundred Three Thousand Five Hundred Forty-Eight Dollars ($26,203,548) per annum.

4.              Effective as of the date hereof, the definition of “Pledge Agreement” set forth in Section 1.79 of the Consolidated Lease is hereby amended by deleting the existing definition and replacing it with the following definition:

“Pledge Agreement” shall mean the Amended and Restated Pledge of Shares of Beneficial Interest Agreement, dated as of May 6, 2005, made by FSQ, Inc. in favor of Landlord with respect to the stock or other equity interests of Tenant, as amended, restated, supplemented or otherwise modified from time to time.

5.              Effective as of the date hereof, Section 2.1 of the Consolidated Lease is hereby amended by deleting subsection (a) in its entirety and replacing it with the following:

 

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(a)  those certain tracts, pieces and parcels of land, as more particularly described in Exhibits A-1 through A-82, attached hereto and made a part hereof (the “Land”);

6.              Effective as of the date hereof, Tenant shall pay all Additional Rent and Additional Charges related to the Second Amendment Property (which constitute Additional Property) in accordance with the provisions of the Consolidated Lease.

7.              As amended hereby, the Consolidated Lease is hereby ratified and confirmed.

 

[Signature Page Follows.]

 

 

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IN WITNESS WHEREOF, Landlord and Tenant have caused this Amendment to be duly executed, as a sealed instrument, as of the date first set forth above.

LANDLORD:

ELLICOTT CITY LAND I LLC, ELLICOTT CITY LAND II LLC, HRES2 PROPERTIES TRUST, SNH CHS PROPERTIES TRUST, SPTIHS PROPERTIES TRUST, SPT-MICHIGAN TRUST, SPTMNR PROPERTIES TRUST, SNH/LTA PROPERTIES TRUST and SNH/LTA PROPERTIES GA LLC

By:  /s/ John R. Hoadley

John R. Hoadley

Treasurer of each of the foregoing entities

TENANT:

FIVE STAR QUALITY CARE TRUST

By:  /s/ Bruce J. Mackey Jr.

Bruce J. Mackey Jr.

Treasurer, Chief Financial Officer and Assistant Secretary

 

 

 

 

 

[The following
exhibits have been omitted and will be supplementally

furnished to the Securities and Exchange Commission upon request.]

	EXHIBIT A-30		THE WESTGATE PROPERTY
	EXHIBIT A-80		THE NORTHLAKE PROPERTY
	EXHIBIT A-81		THE BELMONT PROPERTY
	EXHIBIT A-82		THE GREENWOOD PROPERTYExhibit 10.7

SECOND AMENDMENT TO SECURITY AGREEMENT

THIS SECOND AMENDMENT TO SECURITY AGREEMENT (this “Second Amendment”) is entered into as of this 17th day of May, 2005, by and among (i) FIVE STAR QUALITY CARE TRUST, a Maryland business trust (the “Tenant”), and (ii) each of the other parties identified on the signature page hereof (collectively, the “Secured Parties”).

W I T N E S S E T H:

WHEREAS, HRES2 Properties Trust, SPTIHS Properties Trust, SPT-Michigan Trust and SPTMNR Properties Trust, as landlord (collectively, the “Original Secured Parties”), and the Tenant, as tenant, entered into that certain Master Lease Agreement dated as of December 31, 2001 as amended by that certain Partial Termination of Lease and Sublease dated as of June 5, 2003, by and among SPTIHS Properties Trust and the Tenant, among others (as so amended, the “Original Lease”), pursuant to which the Original Secured Parties leased to the Tenant and the Tenant leased from the Original Secured Parties certain properties as more particularly described in the Original Lease; and

WHEREAS, pursuant to that certain Security Agreement, dated as of December 31, 2001, by and among the Tenant and the Original Secured Parties, as amended by that First Amendment to Security Agreement, dated as of April 19, 2004, (as amended, the “Security Agreement”), the Tenant granted to the Original Secured Parties a first and perfected lien and security interest in the Collateral (this and other capitalized terms used and not otherwise defined herein having the meanings ascribed to such terms in the Security Agreement) to secure the payment and performance of the Obligations; and

WHEREAS, the Tenant and the Secured Parties have entered into that certain Second Amended and Restated Lease Agreement dated as of November 19, 2004 (the “Amended Lease”), which Amended Lease amends and restates the Original Lease to add additional properties as more particularly described in the Amended Lease; and

WHEREAS, the Tenant and the Secured Parties wish to amend the Security Agreement to reflect the amendment and restatement of the Original Lease and to remove one (1) of the facilities from Schedule 2 to the Security Agreement, subject to and upon the terms and conditions hereinafter provided;

 

 

 

 

 

NOW, THEREFORE, in consideration of the mutual covenants herein contained and other good and valuable consideration, the mutual receipt and legal sufficiency of which are hereby acknowledged, the Tenant and the Secured Parties hereto hereby agree as follows:

1.              All references in the Security Agreement to the Master Lease shall mean the Amended Lease, as the same may be amended from time to time.

2.              Schedule 2 to the Security Agreement (“The Facilities”) is hereby amended by deleting the following facility therefrom:

	
            FARMINGTON CARE CENTER
 	
             

	
             
	
            34225 Grand River Avenue
 
	
             
	
            Farmington, Michigan
 	
             

				

 

3.              As amended hereby, the Security Agreement is hereby ratified and confirmed.

 

[Signature page follows.]

 

 

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Second Amendment to be executed under seal as of the date first above written.

TENANT:

FIVE STAR QUALITY CARE TRUST,

a Maryland business trust

	
            By:
 	
            /s/ Bruce J. Mackey Jr.
 

Bruce J. Mackey Jr.

Treasurer, Chief Financial Officer and Assistant Secretary

 

SECURED PARTIES:

HRES2 PROPERTIES TRUST, a Maryland real estate investment trust, SPTIHS PROPERTIES TRUST, a Maryland real estate investment trust, SPT-MICHIGAN TRUST, a Maryland business trust, SPTMNR PROPERTIES TRUST, a Maryland real estate investment trust, SNH CHS PROPERTIES TRUST, a Maryland real estate investment trust, ELLICOTT CITY LAND I, LLC, a Delaware limited liability company, and ELLICOTT CITY LAND II, LLC, a Delaware limited liability company

	
            By:
 	
            /s/ John R. Hoadley
 
	
             
	
            John R. Hoadley
 	
             

Treasurer of each of the foregoing entities

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