Document:

EX-10.2

CREDIT AGREEMENT

Dated as of July 19, 2010

among

GRUBB & ELLIS HEALTHCARE REIT II HOLDINGS, LP,

G&E HC REIT II LACOMBE MOB, LLC, AND

G&E HC REIT II PARKWAY MEDICAL CENTER, LLC,

as the Borrower,

and

BANK OF AMERICA, N.A.,

as the Administrative Agent

1

TABLE OF CONTENTS

ARTICLE I. DEFINITIONS AND ACCOUNTING TERMS

	 	 	 	 	 	 	 	 	 
	 	1.01	 	 	Defined Terms.
	 	 	1	 
	 	1.02	 	 	Other Interpretive Provisions
	 	 	1	 
	 	1.03	 	 	Accounting Terms.
	 	 	20	 
	 	1.04	 	 	Rounding.
	 	 	20	 
	 	1.05	 	 	Times of Day.
	 	 	21	 
	 	1.06	 	 	[Reserved].
	 	 	22	 
	 	1.07	 	 	Addition/Removal/Substitution of Borrowing Base Properties.
	 	 	22	 

ARTICLE II. THE COMMITMENTS AND CREDIT EXTENSIONS

	 	 	 	 	 	 	 	 	 
	 	2.01	 	 	Committed Loans.
	 	 	23	 
	 	2.02	 	 	Borrowings.
	 	 	23	 
	 	2.03	 	 	[Reserved].
	 	 	23	 
	 	2.04	 	 	[Reserved].
	 	 	23	 
	 	2.05	 	 	Prepayments.
	 	 	24	 
	 	2.06	 	 	Termination or Reduction of Commitments.
	 	 	24	 
	 	2.07	 	 	Repayment of Loans.
	 	 	24	 
	 	2.08	 	 	Interest.
	 	 	25	 
	 	2.09	 	 	Fees and Escrow Accounts.
	 	 	26	 
	 	2.10	 	 	Computation of Interest and Fees; Retroactive Adjustments of Interest Rate.
	 	 	27	 
	 	2.11	 	 	Evidence of Debt.
	 	 	27	 
	 	2.12	 	 	Payments Generally; Administrative Agent’s Clawback.
	 	 	27	 
	 	2.13	 	 	Sharing of Payments by Lenders.
	 	 	29	 
	 	2.14	 	 	Extension of Maturity Date.
	 	 	29	 
	 	2.15	 	 	Reserved.
	 	 	31	 
	 	2.16	 	 	[Reserved].
	 	 	31	 
	 	2.17	 	 	[Reserved].
	 	 	31	 
	 	2.18	 	 	Defaulting Lenders.
	 	 	31	 

ARTICLE III. TAXES, YIELD PROTECTION AND ILLEGALITY

	 	 	 	 	 	 	 	 	 
	3.01
	 	Taxes.	 	 	33	 
	3.02
	 	Survival.	 	 	33	 

ARTICLE IV. CONDITIONS PRECEDENT TO CREDIT EXTENSIONS

	 	 	 	 	 	 	 	 	 
	4.01
	 	Conditions of Closing the Loan and Initial Credit Extension.	 	 	36	 
	4.02
	 	Conditions to all Credit Extensions.	 	 	39	 

ARTICLE IV. CONDITIONS PRECEDENT TO CREDIT EXTENSIONS

	 	 	 	 	 	 	 	 	 
	 	5.01	 	 	Existence, Qualification and Power.
	 	 	40	 
	 	5.02	 	 	Authorization; No Contravention.
	 	 	40	 
	 	5.03	 	 	Governmental Authorization; Other Consents.
	 	 	40	 
	 	5.04	 	 	Binding Effect.
	 	 	40	 
	 	5.05	 	 	Financial Statements; No Material Adverse Effect.
	 	 	41	 
	 	5.06	 	 	Litigation.
	 	 	41	 
	 	5.07	 	 	No Default.
	 	 	41	 
	 	5.08	 	 	Ownership of Property; Liens; Investments.
	 	 	41	 
	 	5.09	 	 	Environmental Compliance.
	 	 	42	 
	 	5.10	 	 	Insurance.
	 	 	43	 
	 	5.11	 	 	Taxes.
	 	 	43	 
	 	5.12	 	 	ERISA Compliance.
	 	 	44	 
	 	5.13	 	 	Subsidiaries; Equity Interests.
	 	 	44	 
	 	5.14	 	 	Margin Regulations; Investment Company Act.
	 	 	45	 
	 	5.15	 	 	Disclosure.
	 	 	45	 
	 	5.16	 	 	Compliance with Laws.
	 	 	45	 
	 	5.17	 	 	Taxpayer Identification Number.
	 	 	46	 
	 	5.18	 	 	Intellectual Property; Licenses, Etc.
	 	 	46	 
	 	5.19	 	 	Solvency.
	 	 	46	 
	 	5.20	 	 	Casualty, Etc.
	 	 	46	 
	 	5.21	 	 	Labor Matters.
	 	 	46	 
	 	5.22	 	 	REIT Status.
	 	 	46	 
	 	5.23	 	 	Collateral Documents.
	 	 	47	 
	 	5.24	 	 	Borrowing Base Properties.
	 	 	47	 

ARTICLE VI. AFFIRMATIVE COVENANTS

	 	 	 	 	 	 	 	 	 
	 	6.01	 	 	Financial Statements.
	 	 	47	 
	 	6.02	 	 	Certificates; Other Information.
	 	 	47	 
	 	6.03	 	 	Notices.
	 	 	48	 
	 	6.04	 	 	Payment of Obligations.
	 	 	50	 
	 	6.05	 	 	Preservation of Existence, Etc.
	 	 	51	 
	 	6.06	 	 	Maintenance of Properties.
	 	 	51	 
	 	6.07	 	 	Maintenance of Insurance.
	 	 	52	 
	 	6.08	 	 	Compliance with Laws and Contractual Obligations.
	 	 	52	 
	 	6.09	 	 	Books and Records.
	 	 	52	 
	 	6.10	 	 	Inspection Rights.
	 	 	52	 
	 	6.11	 	 	Use of Proceeds.
	 	 	52	 
	 	6.12	 	 	Additional Borrowers.
	 	 	52	 
	 	6.13	 	 	Pledged Equity Interests; Real Property and Other Collateral.
	 	 	53	 
	 	6.14	 	 	Further Assurances.
	 	 	53	 
	 	6.15	 	 	Compliance with Terms of Approved Ground Leases; Material Easement
Agreements.
	 	 	54	 
	 	6.16	 	 	[Reserved].
	 	 	58	 
	 	6.17	 	 	[Reserved].
	 	 	58	 
	 	6.18	 	 	Additional Insurance Requirements for Borrowing Base Properties.
	 	 	58	 
	 	6.19	 	 	Updated Appraisals.
	 	 	61	 
	 	6.20	 	 	Title Insurance Policy.
	 	 	62	 
	 	6.21	 	 	Borrowing Base Covenants.
	 	 	62	 

ARTICLE VI. AFFIRMATIVE COVENANTS

	 	 	 	 	 	 	 	 	 
	 	7.01	 	 	Liens.
	 	 	62	 
	 	7.02	 	 	Investments.
	 	 	62	 
	 	7.03	 	 	Indebtedness.
	 	 	63	 
	 	7.04	 	 	Fundamental Changes.
	 	 	64	 
	 	7.05	 	 	Dispositions.
	 	 	64	 
	 	7.06	 	 	Restricted Payments.
	 	 	64	 
	 	7.07	 	 	Change in Nature of Business.
	 	 	65	 
	 	7.08	 	 	Transactions with Affiliates.
	 	 	65	 
	 	7.09	 	 	Burdensome Agreements.
	 	 	65	 
	 	7.10	 	 	Use of Proceeds.
	 	 	65	 
	 	7.11	 	 	Borrowing Base Covenants.
	 	 	66	 
	 	7.12	 	 	Capital Expenditures.
	 	 	66	 
	 	7.13	 	 	Accounting Changes.
	 	 	66	 
	 	7.14	 	 	Ownership of Subsidiaries.
	 	 	66	 
	 	7.15	 	 	Leases.
	 	 	66	 
	 	7.16	 	 	Sale Leasebacks.
	 	 	66	 
	 	7.17	 	 	Intentionally Omitted.
	 	 	66	 
	 	7.18	 	 	Additional Borrowing Base Property Matters.
	 	 	66	 
	 	7.19	 	 	Insurance Proceeds and Condemnation Awards.
	 	 	67	 

ARTICLE VIII. EVENTS OF DEFAULT AND REMEDIES

	 	 	 	 	 	 	 	 	 
	 	8.01	 	 	Events of Default.
	 	 	68	 
	 	8.02	 	 	Remedies Upon Event of Default.
	 	 	70	 
	 	8.03	 	 	Application of Funds.
	 	 	71	 
	 	8.04	 	 	Special Provision Regarding Failure to Comply with Borrowing Base.
	 	 	71	 

ARTICLE IX. ADMINISTRATIVE AGENT

	 	 	 	 	 	 	 	 	 
	 	9.01	 	 	Appointment and Authority.
	 	 	72	 
	 	9.02	 	 	Rights as a Lender.
	 	 	72	 
	 	9.03	 	 	Exculpatory Provisions.
	 	 	72	 
	 	9.04	 	 	Reliance by Administrative Agent.
	 	 	73	 
	 	9.05	 	 	Delegation of Duties.
	 	 	73	 
	 	9.06	 	 	Resignation of Administrative Agent.
	 	 	74	 
	 	9.07	 	 	Non-Reliance on Administrative Agent and Other Lenders.
	 	 	74	 
	 	9.08	 	 	No Other Duties, Etc.
	 	 	74	 
	 	9.09	 	 	Administrative Agent May File Proofs of Claim.
	 	 	75	 
	 	9.10	 	 	Collateral Matters.
	 	 	75	 
	 	9.11	 	 	Secured Hedge Agreements.
	 	 	76	 

ARTICLE X. MISCELLANEOUS

	 	 	 	 	 	 	 	 	 
	 	10.01	 	 	Amendments, Etc.
	 	 	76	 
	 	10.02	 	 	Notices; Effectiveness; Electronic Communication.
	 	 	78	 
	 	10.03	 	 	No Waiver; Cumulative Remedies; Enforcement.
	 	 	80	 
	 	10.04	 	 	Expenses; Indemnity; Damage Waiver.
	 	 	80	 
	 	10.05	 	 	Payments Set Aside.
	 	 	82	 
	 	10.06	 	 	Successors and Assigns.
	 	 	82	 
	 	10.07	 	 	Treatment of Certain Information; Confidentiality.
	 	 	86	 
	 	10.08	 	 	Right of Setoff.
	 	 	87	 
	 	10.09	 	 	Interest Rate Limitation.
	 	 	87	 
	 	10.10	 	 	Counterparts; Integration; Effectiveness.
	 	 	88	 
	 	10.11	 	 	Survival of Representations and Warranties.
	 	 	88	 
	 	10.12	 	 	Severability.
	 	 	88	 
	 	10.13	 	 	Replacement of Lenders.
	 	 	88	 
	 	10.14	 	 	Governing Law; Jurisdiction; Etc.
	 	 	89	 
	 	10.15	 	 	Waiver of Jury Trial.
	 	 	90	 
	 	10.16	 	 	No Advisory or Fiduciary Responsibility.
	 	 	90	 
	 	10.17	 	 	Electronic Execution of Assignments and Certain Other Documents.
	 	 	91	 
	 	10.18	 	 	USA PATRIOT Act.
	 	 	91	 
	 	10.19	 	 	Entire Agreement.
	 	 	91	 
	 	10.20	 	 	Rights of Contribution.
	 	 	91	 
	 	10.21	 	 	Joint and Several Liability.
	 	 	92	 
	SIGNATURES	 	 	S-1	 

	 	 	 	 	 
	SCHEDULES	 	 
	2.01

5.06
	 	Commitments and Applicable Percentages

Litigation

	5.08(b) Existing Liens
	 	5.13	(a)	 	Capital Structure of Guarantor and Borrower

	5.13(b) Subsidiaries, Loan Parties
	5.24

10.02
	 	Borrowing Base Properties

Administrative Agent’s Office; Certain Addresses for Notices

	EXHIBITS
	 	

	Form of
	 	

	A

B

C

D

E
	 	Note

Borrowing Base Compliance Certificate

Assignment and Assumption

Mortgage

Joinder Agreement

CREDIT AGREEMENT

This CREDIT AGREEMENT (“Agreement”) is entered into as of July 19, 2010, among GRUBB &
ELLIS HEALTHCARE REIT II HOLDINGS, LP, a Delaware limited partnership (“G&E Healthcare
Borrower”), G&E HC REIT II LACOMBE MOB, LLC, a Delaware limited liability company (“Lacombe
BBP Borrower”) and G&E HC REIT II PARKWAY MEDICAL CENTER, LLC, a Delaware limited liability
company (“Parkway BBP Borrower”; and with G&E Healthcare Borrower and Lacombe BBP Borrower,
hereinafter referred to, individually and collectively, as the “Borrower”), each lender
from time to time party hereto (collectively, the “Lenders” and individually, a
"Lender”), and BANK OF AMERICA, N.A., as Administrative Agent.

The Borrower has requested that the Lenders provide a revolving credit facility, and the
Lenders are willing to do so on the terms and conditions set forth herein.

In consideration of the mutual covenants and agreements herein contained, the parties hereto
covenant and agree as follows:

ARTICLE I.

DEFINITIONS AND ACCOUNTING TERMS

1.01 Defined Terms. As used in this Agreement, the following terms shall have the meanings
set forth below:

"Administrative Agent” means Bank of America in its capacity as administrative agent
under any of the Loan Documents, or any successor administrative agent.

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

"Advisor” has the meaning specified in Section 5.18.

"Advisory Agreement” has the meaning specified in Section 5.18.

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

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

"Agreement” means this Credit Agreement.

"Applicable Margin” means three and three-quarters percent (3.75%) per annum.

"Applicable Percentage” means with respect to any Lender at any time, the percentage
(carried out to the ninth decimal place) of the Aggregate Commitments represented by such Lender’s
Commitment at such time, subject to adjustment as provided in Section 2.18. If the
commitment of each Lender to make Loans have been terminated pursuant to Section 8.02 or if
the Aggregate Commitments have expired, then the Applicable Percentage of each Lender shall be
determined based on the Applicable Percentage of such Lender most recently in effect, giving effect
to any subsequent assignments. The initial Applicable Percentage of each Lender is set forth
opposite the name of such Lender on Schedule 2.01 or in the Assignment and Assumption
pursuant to which such Lender becomes a party hereto, as applicable.

"Appraisal” means, with respect to each Borrowing Base Property, a FIRREA-compliant
MAI appraisal of such Borrowing Base Property ordered by the Administrative Agent, from an
appraiser and in form and substance acceptable to the Administrative Agent and initially dated as
of a date not more than ninety (90) days prior to the date on which such Borrowing Base Property is
first included in the calculation of the Borrowing Base, and any such new or updated appraisals
meeting the foregoing requirements (other than the initial date) obtained by the Administrative
Agent pursuant to Section 6.19.

"Appraised Value” means, as of any date of determination, for each Borrowing Base
Property existing as of such date, the most-recently obtained “as-is” appraised value of such
Borrowing Base Property as set forth in a FIRREA-compliant MAI appraisal commissioned, reviewed and
approved (in its reasonable discretion) by the Administrative Agent.

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

"Approved Ground Lease” means a ground lease that is in form and substance reasonably
acceptable to the Administrative Agent (as evidenced by its approval of the BBP Deliverables
related to a proposed Borrowing Base Property that is subject to a ground lease), which ground
lease shall, without limitation, provide for notice to any leasehold mortgagee or the beneficiary
under any leasehold deed of trust (or any other Person in a similar capacity) of any default by the
ground lessee thereunder and an opportunity (but not an obligation) for the recipient of such
notice to cure such default on terms satisfactory to the Administrative Agent and shall otherwise
conform to the Administrative Agent’s requirements with respect to ground leases.

"Approved Manager” means any property manager which shall be approved in writing by
Administrative Agent as of the Closing Date or are otherwise approved following the Closing Date by
the Administrative Agent and who are engaged to manage one (1) or more Borrowing Base Properties
pursuant to management agreements in form and substance reasonably acceptable to the Administrative
Agent and the Lenders between the applicable manager and the owner thereof or the BBP Subsidiary
that has leased such Borrowing Base Property from the owner thereof.

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

"Assignment and Assumption” means an assignment and assumption entered into by a
Lender and an assignee (with the consent of any party whose consent is required by Section
10.06(b)), and accepted by the Administrative Agent, in substantially the form of Exhibit
C or any other form approved by the Administrative Agent.

"Availability Period” means the period from and including the Closing Date to the
earliest of (a) the Maturity Date, and (b) the date of termination of the Aggregate Commitments
pursuant to Section 2.06.

"Bank of America” means Bank of America, N.A. and its successors and/or assigns.

"BBA LIBOR” has the meaning specified in Section 2.08(a).

"BBA LIBOR Daily Floating Rate” has the meaning specified in Section 2.08(a).

"BBP Cost” means the amount of actual approved acquisition costs, fees and customary
closing costs incurred by the Borrower (all of which shall be subject to the Administrative Agent’s
approval in it sole discretion) in connection with the acquisition by the Borrower of the
applicable Borrowing Base Properties.

"BBP Deliverables” means, with respect to each Real Property for which the Borrowers
seek approval as a “Borrowing Base Property” the following items (except to the extent otherwise
agreed in writing by the Administrative Agent): (i) an Appraisal with respect to such property;
(ii) a legal description and ALTA survey of such property, together with photographs (interior and
exterior) thereof; (iii) a commitment from a title policy issuer acceptable to the Administrative
Agent to issue a lender’s title policy with respect to such property in an amount, containing
exceptions, with such available endorsements and otherwise on terms and conditions acceptable to
the Administrative Agent, together with copies of all title exceptions related thereto; (iv) an
environmental site assessment with respect to such property dated within twelve (12) months prior
to the projected closing date for such property, performed by an engineering firm, and of a scope
and in form and content satisfactory to the Administrative Agent, and complying with the
Administrative Agent’s established guidelines (an “Environmental Report”); (v) a structural
engineering and/or property condition report with respect to such property; (vi) evidence of
insurance with respect to such property in form and substance acceptable to the Administrative
Agent; (vii) evidence regarding whether such property is designated by FEMA as having special flood
or mud slide hazards; (viii) a copy of the management agreement with an Approved Manager respecting
such property, together with an assignment and subordination of such management agreement in form
and substance satisfactory to Administrative Agent; (ix) copies of all leases entered into with
respect to the subject property which shall be in form and substance satisfactory to Administrative
Agent; (x) subordination, non-disturbance and attornment agreements from tenants leasing at least
sixty percent (60%) of the gross leasable area of such property, in form, content and manner of
execution acceptable to the Administrative Agent; (xi) estoppel certificates from tenants leasing
at least seventy five percent (75%) of the gross leasable area of such property, in form, content
and manner of execution acceptable to the Administrative Agent; (xii) to the extent such property
is ground leased to the applicable BBP Subsidiary, a copy of the executed ground lease which shall
be an Approved Ground Lease, (xiii) to the extent such property is ground leased to the applicable
BBP Subsidiary, a ground lease estoppel certificate from the ground lessor, in form, content and
manner of execution acceptable to the Administrative Agent; (xiv) all of the organizational
documents of the BBP Subsidiary; (xv) executed deeds of trust, trust deeds, deeds to secure debt,
mortgages, leasehold mortgages and leasehold deeds of trust, in form and substance satisfactory to
Administrative Agent and covering the subject property to be brought in as a Borrowing Base
Property (together with an assignments of leases and rents referred to therein, if any), and (xvi)
such other documentation as may be reasonably required by the Administrative Agent.

"BBP Subsidiary” of the G&E Healthcare Borrower means a corporation, partnership,
joint venture, limited liability company or other business entity of which a majority of the shares
of securities or other interests having ordinary voting power for the election of directors or
other governing body (other than securities or interests having such power only by reason of the
happening of a contingency) are at the time beneficially owned, or the management of which is
otherwise controlled, directly, or indirectly through one or more intermediaries, or both, by such
G&E Healthcare Borrower and which has either (a) executed this Agreement, or (b) executed a Joinder
Agreement. Unless otherwise specified, all references herein to a “BBP Subsidiary” or to “BBP
Subsidiaries” shall refer to a subsidiary or subsidiaries of the G&E Healthcare Borrower which has
either (a) executed this Agreement, or (b) executed a Joinder Agreement.

"BBP Value” means, as of any date of determination, the aggregate sum of the “as-is”
appraised value of the assets from time to time qualifying as Borrowing Base Properties pursuant to
the most-recently obtained Appraisal related thereto.

"Borrower” has the meaning specified in the introductory paragraph hereto, each Person
that is required to be a Borrower pursuant to Section 6.12, as identified on the signature
pages hereto as a “Borrower” as of the Closing Date, and each other Person or BBP Subsidiary that
becomes a Borrower after the Closing Date pursuant to the terms hereof as required by Section
6.12, in each case together with their successors and permitted assigns. Borrower may used
individually or collectively, as the context requires or as determined by the Administrative Agent
in its sole discretion.

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

"Borrowing” means a Committed Borrowing.

"Borrowing Base” means, as of any date of calculation, the least of the following: (a)
$25,000,000.00, (b) the Collateral Value Amount, (c) the Mortgageability Amount, and (d) the LTC
Amount.

"Borrowing Base Compliance Certificate” means a certificate substantially in the form
of Exhibit B.

"Borrowing Base Failure Event” shall have the meaning set forth in Section
8.04.

"Borrowing Base Entity” means, as of any date of determination, any Person that owns a
Borrowing Base Property, and “Borrowing Base Entities” means a collective reference to all
of them.

"Borrowing Base Properties” means, as of any date, a collective reference to each Real
Property (i) that is set forth on Schedule 5.24 hereto (as such schedule may be updated
from time to time in accordance with the terms hereof (including, without limitation, Sections
1.07 and 6.02(b)), in each case to the extent that such Real Property has not otherwise
been removed as a “Borrowing Base Property” pursuant to the other criteria for qualification as
such set forth in this definition and the other provisions of this Agreement, and (ii) that meets
the following criteria:

	 	(a)	 	such Real Property is a medical office building;

	 	(b)	 	such Real Property is managed by an Approved Manager pursuant to a management
agreement in form and substance reasonably acceptable to the Administrative Agent and
the Lenders;

	 	(c)	 	such Real Property is owned in fee simple by the Borrower or subject to an
Approved Ground Lease (and such property is leased to a BBP Subsidiary);

(d) such Real Property is free of any unpermitted liens or negative pledges;

	 	(e)	 	(i) a minimum of seventy five percent (75%) of the rentable area of such Real
Property is leased to tenants under Leases which are in full force and effect and no
default has occurred thereunder; (ii) such tenants are in occupancy and paying full
rent; and (iii) not more than ten percent (10%) of the rentable area covered by such
Leases at such Real Property shall by their terms expire or terminate within the
following twelve (12) month period;

	 	(f)	 	the Borrower has proposed such Real Property to the Administrative Agent and
the Lenders in writing and has provided to Administrative Agent and the Lenders all of
the BBP Deliverables with respect to such Real Property; and

	 	(g)	 	the Administrative Agent shall have approved such Real Property’s inclusion as
a “Borrowing Base Property” hereunder in its sole discretion.

The term “Borrowing Base Property” shall mean any one of such Borrowing Base
Properties.

"Business Day” means any day other than a Saturday, Sunday or other day on which
commercial banks are authorized to close under the Laws of, or are in fact closed in, the state
where the Administrative Agent’s Office is located and, if such day relates to the BBA Daily LIBOR
Rate, means any such day that is also a London Banking Day.

"Change in Law” means the occurrence, after the date of this Agreement, of any of the
following: (a) the adoption or taking effect of any law, rule, regulation or treaty, (b) any change
in any law, rule, regulation or treaty or in the administration, interpretation or application
thereof by any Governmental Authority, or (c) the making or issuance of any request, guideline or
directive (whether or not having the force of law) by any Governmental Authority.

"Change of Control” means an event or series of events by which:

(a) any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the
Securities Exchange Act of 1934, but excluding any employee benefit plan of such person or
its subsidiaries, and any person or entity acting in its capacity as trustee, agent or other
fiduciary or administrator of any such plan) becomes the “beneficial owner” (as defined in
Rules 13d-3 and 13d-5 under the Securities Exchange Act of 1934, except that a person or
group shall be deemed to have “beneficial ownership” of all securities that such person or
group has the right to acquire, whether such right is exercisable immediately or only after
the passage of time [such right, an “option right"]), directly or indirectly, of
twenty five percent (25%) or more of the equity securities of the G&E Healthcare Borrower or
Guarantor entitled to vote for members of the board of directors or equivalent governing
body of the G&E Healthcare Borrower or Guarantor on a fully-diluted basis (and taking into
account all such securities that such person or group has the right to acquire pursuant to
any option right);

(b) during any period of twelve (12) consecutive months, a majority of the members of
the board of directors or other equivalent governing body of the G&E Healthcare Borrower or
Guarantor cease to be composed of individuals (i) who were members of that board or
equivalent governing body on the first day of such period, (ii) whose election or nomination
to that board or equivalent governing body was approved by individuals referred to in
clause (i) above constituting at the time of such election or nomination at least a
majority of that board or equivalent governing body, or (iii) whose election or nomination
to that board or other equivalent governing body was approved by individuals referred to in
clauses (i) and (ii) above constituting at the time of such election or nomination
at least a majority of that board or equivalent governing body (excluding, in the case of
both clause (ii) and clause (iii), any individual whose initial nomination
for, or assumption of office as, a member of that board or equivalent governing body occurs
as a result of an actual or threatened solicitation of proxies or consents for the election
or removal of one or more directors by any person or group other than a solicitation for the
election of one or more directors by or on behalf of the board of directors);

(c) the passage of thirty (30) days from the date upon which any Person or two (2) or
more Persons acting in concert shall have acquired by contract or otherwise, or shall have
entered into a contract or arrangement that, upon consummation thereof, will result in its
or their acquisition of the power to exercise, directly or indirectly, a controlling
influence over the management or policies of the G&E Healthcare Borrower or Guarantor, or
control over the equity securities of the G&E Healthcare Borrower or Guarantor entitled to
vote for members of the board of directors or equivalent governing body of the Borrower on a
fully-diluted basis (and taking into account all such securities that such Person or group
has the right to acquire pursuant to any option right) representing twenty five percent
(25%) or more of the combined voting power of such securities;

(d) the failure of the G&E Healthcare Borrower to wholly own any BBP Subsidiary; or

(e) the failure of the Guarantor to wholly own the general partnership interest of the
G&E Healthcare Borrower.

"Closing Date” means the first date all the conditions precedent in Section
4.01 are satisfied or waived in accordance with Section 10.01.

"Code” means the Internal Revenue Code of 1986.

"Collateral” means all of the “Collateral” and “Mortgaged Property”
referred to in the Collateral Documents and all of the other property that is or is intended under
the terms of the Collateral Documents to be subject to Liens in favor of the Administrative Agent
for the benefit of the Secured Parties, as they may be amended, modified, restated, replaced or
supplemented from time to time.

"Collateral Documents” means, collectively, the Pledge Agreement, the Mortgages, and
each of the other mortgages, collateral assignments, security agreements, pledge agreements or
other similar agreements delivered to the Administrative Agent pursuant to Section 6.13,
and each of the other agreements, instruments or documents that creates or purports to create a
Lien in favor of the Administrative Agent for the benefit of the Secured Parties.

"Collateral Value Amount” means, as of any Determination Date, an amount equal to the
product of (a) fifty percent (50%) multiplied by (b) the BBP Value as of such date.

"Commitment” means, as to each Lender, its obligation to make Committed Loans to the
Borrower pursuant to Section 2.01, in an aggregate principal amount at any one time
outstanding not to exceed the amount set forth opposite such Lender’s name on Schedule 2.01
or in the Assignment and Assumption pursuant to which such Lender becomes a party hereto, as
applicable, as such amount may be adjusted from time to time in accordance with this Agreement.

"Committed Borrowing” means a borrowing consisting of simultaneous Committed Loans
made by each of the Lenders pursuant to Section 2.01.

"Committed Loan” has the meaning specified in Section 2.01.

"Committed Loan Notice” means a notice of a Committed Borrowing which must be in
writing, and shall be in form and substance satisfactory to Administrative Lender.

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

"Control” means the possession, directly or indirectly, of the power to direct or
cause the direction of the management or policies of a Person, whether through the ability to
exercise voting power, by contract or otherwise. “Controlling” and “Controlled”
have meanings correlative thereto.

"Credit Extension” means a Borrowing.

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

"Default” means any event or condition that constitutes an Event of Default or that,
with the giving of any notice, the passage of time, or both, would be an Event of Default.

"Default Rate” has the meaning specified in Section 2.08(c).

"Defaulting Lender” means, subject to Section 2.18(b), any Lender that, as
determined by the Administrative Agent, (a) has failed to perform any of its funding obligations
hereunder, including in respect of its Loans within three (3) Business Days of the date required
to be funded by it hereunder, (b) has notified the Borrower, or the Administrative Agent or any
Lender that it does not intend to comply with its funding obligations or has made a public
statement to that effect with respect to its funding obligations hereunder or under other
agreements in which it commits to extend credit, (c) has failed, within three (3) Business Days
after request by the Administrative Agent, to confirm in a manner satisfactory to the
Administrative Agent that it will comply with its funding obligations, or (d) has, or has a direct
or indirect parent company that has, (i) become the subject of a proceeding under any Debtor Relief
Law, (ii) had a receiver, conservator, trustee, administrator, assignee for the benefit of
creditors or similar Person charged with reorganization or liquidation of its business or a
custodian appointed for it, or (iii) taken any action in furtherance of, or indicated its consent
to, approval of or acquiescence in any such proceeding or appointment; provided that a Lender shall
not be a Defaulting Lender solely by virtue of the ownership or acquisition of any equity interest
in that Lender or any direct or indirect parent company thereof by a Governmental Authority.

"Determination Date” means the last day of each calendar quarter, commencing with
September 30, 2010, and on any other date which the Administrative Agent makes a determination
regarding the compliance with the Borrowing Base, as applicable.

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

"Dollar” and “$” mean lawful money of the United States.

"Eligible Assignee” means any Person that meets the requirements to be an assignee
under Section 10.06(b)(iii) and (v) (subject to such consents, if any, as may be required
under Section 10.06(b)(iii)).

"Environmental Agreement” means that certain Environmental Indemnity Agreement dated
of even date herewith made by the Borrower, the Guarantor and the Administrative Agent.

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

"Environmental Liability” means any liability, contingent or otherwise (including any
liability for damages, costs of environmental remediation, fines, penalties or indemnities), of the
Borrower, any other Loan Party or any of their respective Subsidiaries directly or indirectly
resulting from or based upon (a) violation of any Environmental Law, (b) the generation, use,
handling, transportation, storage, treatment or disposal of any Hazardous Materials in violation of
any Environmental Law, (c) exposure to any Hazardous Materials in violation of any Environmental
Law, (d) the release or threatened release of any Hazardous Materials into the environment in
violation of any Environmental Law, or (e) any contract, agreement or other consensual arrangement
pursuant to which liability is assumed or imposed with respect to any of the foregoing.

"Equity Interests” means, with respect to any Person, all of the shares of capital
stock of (or other ownership or profit interests in) such Person, all of the warrants, options or
other rights for the purchase or other acquisition from such Person of shares of capital stock of
(or other ownership or profit interests in) such Person, all of the securities convertible into or
exchangeable for shares of capital stock of (or other ownership or profit interests in) such Person
or warrants, rights or options for the purchase or other acquisition from such Person of such
shares (or such other interests), and all of the other ownership or profit interests in such Person
(including, without limitation, partnership, member or trust interests therein), whether voting or
nonvoting, and whether or not such shares, warrants, options, rights or other interests are
authorized or otherwise outstanding on any date of determination.

"ERISA” means the Employee Retirement Income Security Act of 1974.

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

"ERISA Event” means (a) a Reportable Event with respect to a Pension Plan; (b) the
withdrawal of any Borrower or any ERISA Affiliate from a Pension Plan subject to Section 4063 of
ERISA during a plan year in which such entity was a “substantial employer” as defined in
Section 4001(a)(2) of ERISA or a cessation of operations that is treated as such a withdrawal under
Section 4062(e) of ERISA; (c) a complete or partial withdrawal by any Borrower or any ERISA
Affiliate from a Multiemployer Plan or notification that a Multiemployer Plan is in reorganization;
(d) the filing of a notice of intent to terminate, the treatment of a Pension Plan amendment as a
termination under Section 4041 or 4041A of ERISA; (e) the institution by the PBGC of proceedings to
terminate a Pension Plan; (f) any event or condition which constitutes grounds under Section 4042
of ERISA for the termination of, or the appointment of a trustee to administer, any Pension Plan;
(g) the determination that any Pension Plan is considered an at-risk plan or a plan in endangered
or critical status within the meaning of Sections 430, 431 and 432 of the Code or Sections 303, 304
and 305 of ERISA; or (h) the imposition of any liability under Title IV of ERISA, other than for
PBGC premiums due but not delinquent under Section 4007 of ERISA, upon any Borrower or any ERISA
Affiliate.

"Event of Default” has the meaning specified in Section 8.01.

"Excluded Taxes” means, with respect to the Administrative Agent, any Lender or any
other recipient of any payment to be made by or on account of any obligation of the Borrower
hereunder, (a) taxes imposed on or measured by its overall net income (however denominated), and
franchise taxes imposed on it (in lieu of net income taxes), by the jurisdiction (or any political
subdivision thereof) under the Laws of which such recipient is organized or in which its principal
office is located or, in the case of any Lender, in which its applicable Lending Office is located,
(b) any branch profits taxes imposed by the United States or any similar tax imposed by any other
jurisdiction in which the Borrower is located, (c) any backup withholding tax that is required by
the Code to be withheld from amounts payable to a Lender that has failed to comply with clause
(A) of Section 3.01(e)(ii), and (d) in the case of a Foreign Lender (other than an
assignee pursuant to a request by the Borrower under Section 10.13), any United States
withholding tax that (i) is required to be imposed on amounts payable to such Foreign Lender
pursuant to the Laws in force at the time such Foreign Lender becomes a party hereto (or designates
a new Lending Office), or (ii) is attributable to such Foreign Lender’s failure or inability (other
than as a result of a Change in Law) to comply with clause (B) of Section
3.01(e)(ii), except to the extent that such Foreign Lender (or its assignor, if any) was
entitled, at the time of designation of a new Lending Office (or assignment), to receive additional
amounts from the Borrower with respect to such withholding tax pursuant to Section
3.01(a)(ii) or (iii).

"Extended Maturity Date” has the meaning specified in Section 2.14(b).

"Federal Funds Rate” means, for any day, the rate per annum equal to the weighted
average of the rates on overnight Federal funds transactions with members of the Federal Reserve
System arranged by Federal funds brokers on such day, as published by the Federal Reserve Bank of
New York on the Business Day next succeeding such day; provided that (a) if such day is not a
Business Day, the Federal Funds Rate for such day shall be such rate on such transactions on the
next preceding Business Day as so published on the next succeeding Business Day, and (b) if no such
rate is so published on such next succeeding Business Day, the Federal Funds Rate for such day
shall be the average rate (rounded upward, if necessary, to a whole multiple of 1/100 of 1%)
charged to Bank of America on such day on such transactions as determined by the Administrative
Agent.

"Fee Letter” means that certain letter agreement dated July   , 2010, between the
Borrower and the Administrative Agent.

"Financial Statements” means the financial statements of Guarantor and its
Subsidiaries (unless otherwise specifically noted herein) which shall include, without limitation,
a balance sheet, income and expense statement, and statement of cash flows for the subject
reporting of the Guarantor and its Subsidiaries, including the notes thereto and such other
information as noted in Section 6.01 of this Agreement.

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

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

"Fully Satisfied” means, with respect to the Obligations as of any date, that, as of
such date, (a) all principal of and interest accrued to such date which constitute Obligations
shall have been irrevocably paid in full in cash, (b) all fees, expenses and other amounts then due
and payable which constitute Obligations shall have been irrevocably paid in cash, and (c) the
Commitments shall have expired or been terminated in full (in each case, other than inchoate
indemnification liabilities arising under the Loan Documents).

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

"GAAP” means generally accepted accounting principles in the United States set forth
in the opinions and pronouncements of the Accounting Principles Board and the American Institute of
Certified Public Accountants and statements and pronouncements of the Financial Accounting
Standards Board or such other principles as may be approved by a significant segment of the
accounting profession in the United States, that are applicable to the circumstances as of the date
of determination, consistently applied.

"Governmental Authority” means the government of the United States or any other
nation, or of any political subdivision thereof, whether state or local, and any agency, authority,
instrumentality, regulatory body, court, central bank or other entity exercising executive,
legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to
government (including any supra-national bodies such as the European Union or the European Central
Bank).

"Guarantor” means Grubb & Ellis Healthcare REIT II, Inc, a Maryland corporation having
an address at C/O Grubb & Ellis Equity Advisors, LLC, 1551 North Tustin Avenue, Suite 300, Santa
Ana, California 92705.

"Guaranty Agreement” means that certain Guaranty Agreement of even date herewith made
by the Guarantor to the Administrative Agent for the benefit of the Lenders.

"Hazardous Materials” means all explosive or radioactive substances or wastes and all
hazardous or toxic substances, wastes or other pollutants, including petroleum or petroleum
distillates, asbestos or asbestos-containing materials, mold, polychlorinated biphenyls, radon gas,
infectious or medical wastes and all other substances or wastes of any nature regulated pursuant to
any Environmental Law.

"Hedge Bank” means any Lender or Affiliate of a Lender in its capacity as a party to a
Swap Contract that is not otherwise prohibited under Article VI or VII.

"Impacted Lender” means any Lender as to which an entity that controls the Lender has
been deemed insolvent or become subject to a bankruptcy or other similar proceeding.

"Increase Effective Date” has the meaning given to such term in Section
2.15(d).

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

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

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

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

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

(e) support obligations in respect of Indebtedness of another Person (other than Persons in
such group, if applicable); and

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

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

"Indemnified Taxes” means Taxes other than Excluded Taxes.

"Indemnitees” has the meaning specified in Section 10.04(b).

"Information” has the meaning specified in Section 10.07.

"Initial Maturity Date” has the meaning specified in Section 2.14(a).

"Intangible Assets” means assets that are considered to be intangible assets under
GAAP, including customer lists, goodwill, computer software, copyrights, trade names, trademarks,
patents, franchises, licenses, unamortized deferred charges, unamortized debt discount and
capitalized research and development costs.

"Interest Payment Date” means the first day of each month and the Maturity Date.

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

"IP Rights” has the meaning specified in Section 5.18.

"IRS” means the United States Internal Revenue Service.

"Joinder Agreement” means a Joinder Agreement substantially in the form of Exhibit
E hereto, executed and delivered by the applicable BBP Subsidiary as an additional Borrower in
accordance with the provisions of Section 6.12 hereof.

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

"Lease” means a lease, sublease, license, concession agreement or other agreement or
other agreement (not including any ground lease) providing for the use or occupancy of any portion
of any Real Property owned or leased by any Loan Party, including all amendments, supplements,
restatements, assignments and other modifications thereto. The Lacombe BBP Borrower’s and the
Parkway BBP Borrower’s standard form of tenant lease for each of their respective Real Property
have been approved by the Administrative Agent. The Borrower’s standard form of tenant lease for
any other Real Property shall be deemed approved when an entity is accepted as a BBP Subsidiary and
as an additional Borrower in accordance with the provisions of Section 6.12 hereof. Any
material revisions to any form of tenant lease must have the prior written approval of the
Administrative Agent. The Borrower’s standard form of tenant lease for any Real Property, and any
revisions thereto, must have the prior written approval of the Administrative Agent. The Borrower
shall not enter into any new Material Lease for space in any Real Property, or enter into any Lease
that is not on the Borrower’s standard form of tenant lease approved by the Administrative Agent,
unless approved by the Administrative Agent prior to execution thereof, which approval shall not be
unreasonably withheld.

"Lender” has the meaning specified in the introductory paragraph hereto and as the
context requires.

"Lending Office” means, as to any Lender, the office or offices of such Lender
described as such in such Lender’s Assignment and Assumption, or such other office or offices as a
Lender may from time to time notify the Borrower and the Administrative Agent.

"Lien” means any mortgage, pledge, hypothecation, assignment, deposit arrangement,
encumbrance, lien (statutory or other), charge, or preference, priority or other security interest
or preferential arrangement in the nature of a security interest of any kind or nature whatsoever
(including any conditional sale or other title retention agreement, any easement, right of way or
other encumbrance on title to real property, and any financing lease having substantially the same
economic effect as any of the foregoing).

"Loan” means an extension of credit by a Lender to the Borrower under Article
II in the form of a Committed Loan.

"Loan Documents” means this Agreement, each Note, each Collateral Document, the
Guaranty Agreement, the Environmental Agreement, the Fee Letter and all other documents,
instruments and agreements evidencing, securing or pertaining to the Loans as shall, from time to
time, be executed and/or delivered by any Borrower, the Guarantor, any Loan Party or any other
party to the Administrative Agent or any Lender pursuant to this Agreement, as they may be amended,
modified, restated, replaced or supplemented from time to time.

"Loan Parties” means, collectively, each Borrower (which shall include any BBP
Subsidiary which shall become a Borrower after the date hereof pursuant to the terms and conditions
set forth in this Agreement) and the Guarantor.

"London Banking Day” means any day on which banks in London are open for business and
dealing in offshore dollars.

"LTC Amount” means, as of any Determination Date, an amount equal to the product of
(a) fifty percent (50%) multiplied by (b) the BBP Cost as of such date.

"Material Adverse Effect” means (a) a material adverse change in, or a material
adverse effect upon, the operations, business, properties, liabilities (actual or contingent),
condition (financial or otherwise) or prospects of the Borrower or the Borrower and its
Subsidiaries taken as a whole; (b) a material impairment of the ability of any Loan Party to
perform its obligations under any Loan Document to which it is a party; or (c) a material adverse
effect upon the legality, validity, binding effect or enforceability against any Loan Party of any
Loan Document to which it is a party.

"Material Lease” means any Lease that is (a) in excess of five percent (5%) of
aggregate gross leaseable area of the Borrowing Base Properties, or (b) in excess of ten percent
(10%) of the aggregate gross leasable area of any individual Borrowing Base Property.

"Maturity Date” means the later of (a) the Initial Maturity Date, and (b) if maturity
is extended pursuant to Section 2.14, the Extended Maturity Date; provided, however, that,
in each case, if such date is not a Business Day, the Maturity Date shall be the next preceding
Business Day.

"Mortgage” has the meaning specified in Section 4.01(a)(iv).

"Mortgage Policy” means, with respect to any Real Property, a fully paid American Land
Title Association Lender’s Extended Coverage title insurance policy with respect to any Mortgage
related thereto.

"Mortgageability Amount” means, as of any Determination Date, the maximum principal
amount under a hypothetical loan with respect to which the annual principal and interest payments
are equal to the Mortgageability Cash Flow divided by 1.50 under a hypothetical loan, utilizing a
thirty (30) year mortgage-style amortization schedule and an interest rate equal to the greater of
(i) the ten (10) year Treasury Rate plus three percent (3.0%) or (ii) seven and one-half percent
(7.5%).

"Mortgageability Cash Flow” means, as of any Determination Date, the aggregate sum of
Net Operating Income from each of the Borrowing Base Properties as of the Determination Date.

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

"Multiple Employer Plan” means a Plan which has two or more contributing sponsors
(including the Borrower or any ERISA Affiliate) at least two of whom are not under common control,
as such a plan is described in Section 4064 of ERISA.

"Net Operating Income” means an amount equal to (a) the aggregate gross rental
revenues received by Borrower from all Borrowing Base Properties from tenants (i) in occupancy of
their respective leased premises and paying full rent, and (ii) not in bankruptcy or otherwise in
default under their respective Lease, for the most recent three (3) month period ending as of the
Determination Date multiplied by four (4), minus (b) actual expenses paid by Borrower in connection
with the operation of such Borrowing Base Property during such three (3) month period ending as of
the Determination Date (excluding debt service charges, income taxes, depreciation, amortization
and other non-cash expenses) multiplied by four (4), minus (c) annual real estate taxes and
insurance, minus (d) a base management fee that is the greater of three percent (3.0%) of the
aggregate net revenues from the operations of such Borrowing Base Property during twelve (12) month
period or actual management fees paid over such twelve (12) month period, and minus (e) an annual
replacement reserve equal to $0.25 per square foot per year for the total square footage of
rentable space in such Borrowing Base Property for the prior twelve (12) months.

"Note” means a promissory note made by the Borrower in favor of a Lender evidencing
Loans made by such Lender, substantially in the form of Exhibit A.

"Obligations” means all advances to, and debts, liabilities, obligations, covenants
and duties of, any Loan Party arising under any Loan Document or otherwise with respect to any Loan
or Secured Hedge Agreement, whether direct or indirect (including those acquired by assumption),
absolute or contingent, due or to become due, now existing or hereafter arising and including
interest and fees that accrue after the commencement by or against any Loan Party or any Affiliate
thereof of any proceeding under any Debtor Relief Laws naming such Person as the debtor in such
proceeding, regardless of whether such interest and fees are allowed claims in such proceeding.

"Organization Documents” means, (a) with respect to any corporation, the certificate
or articles of incorporation and the bylaws (or equivalent or comparable constitutive documents
with respect to any non-U.S. jurisdiction); (b) with respect to any limited liability company, the
certificate or articles of formation or organization and operating agreement; and (c) with respect
to any partnership, joint venture, trust or other form of business entity, the partnership, joint
venture or other applicable agreement of formation or organization and any agreement, instrument,
filing or notice with respect thereto filed in connection with its formation or organization with
the applicable Governmental Authority in the jurisdiction of its formation or organization and, if
applicable, any certificate or articles of formation or organization of such entity.

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

"Outstanding Amount” means on any date, the aggregate outstanding principal amount
thereof after giving effect to any borrowings and prepayments or repayments of Committed Loans
occurring on such date.

"Participant” has the meaning specified in Section 10.06(d).

"PBGC” means the Pension Benefit Guaranty Corporation.

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

"Permitted Liens” means those Liens permitted pursuant to Section 7.01 of this
Agreement.

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

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

"Platform” has the meaning specified in Section 6.02.

"Pledge Agreement” means that certain equity interests pledge and security agreement
dated as of the Closing Date given by the G&E Healthcare Borrower, as pledgor, with respect to its
ownership interest in and to the Lacombe BBP Borrower and the Parkway BBP Borrower, to the
Administrative Agent to secure the Obligations, and any other equity interests pledge agreements
that may hereafter be given by the G&E Healthcare Borrower pursuant to the terms hereof, in each
case as the same may be amended and modified from time to time.

"Prime Rate” means, on any day, the rate of interest per annum then most recently
established by Administrative Agent as its “prime rate”. Any such rate is a general reference rate
of interest, may not be related to any other rate, and may not be the lowest or best rate actually
charged by Administrative Agent to any customer or a favored rate and may not correspond with
future increases or decreases in interest rates charged by other lenders or market rates in
general, and that Administrative Agent may make various business or other loans at rates of
interest having no relationship to such rate. Any change in the Prime Rate shall take effect at
the opening of business on the day specified in the public announcement of a change in
Administrative Agent’s Prime Rate. If Administrative Agent ceases to exist or to establish or
publish a prime rate from which the Prime Rate is then determined, the applicable variable rate
from which the Prime Rate is determined thereafter shall be instead the prime rate reported in The
Wall Street Journal (or the average prime rate if a high and a low prime rate are therein
reported), and the Prime Rate shall change without notice with each change in such prime rate as of
the date such change is reported.

"Public Lender” has the meaning specified in Section 6.02.

"QRS” means a Person qualifying for treatment either as a “qualified REIT subsidiary”
under Section 856(i) of the Code, or as an entity disregarded as an entity separate from its owner
under Treasury Regulations under Section 7701 of the Code.

"Register” has the meaning specified in Section 10.06(c).

"Real Properties” means, at any time, a collective reference to each of the facilities
and real properties owned or leased by the Borrower or any other Loan Party or in which any such
Person has an interest at such time; and “Real Property” means any one of such Real
Properties.

"REIT” means a Person qualifying for treatment as a “real estate investment trust”
under the Code.

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

"Reportable Event” means any of the events set forth in Section 4043(c) of ERISA,
other than events for which the thirty (30) day notice period has been waived.

"Request for Credit Extension” means, with respect to a Borrowing, a Committed Loan
Notice.

"Required Lenders” means, as of any date of determination, Lenders having at least
fifty one percent (51%) of the Aggregate Commitments; provided that the Commitment of any
Defaulting Lender shall be excluded for purposes of making a determination of Required Lenders.

"Responsible Officer” means the chief executive officer, president, chief financial
officer, treasurer, assistant treasurer or controller of a Loan Party, and solely for purposes of
the delivery of incumbency certificates pursuant to Section 4.01, the secretary or any
assistant secretary of a Loan Party. Any document delivered hereunder that is signed by a
Responsible Officer of a Loan Party shall be conclusively presumed to have been authorized by all
necessary corporate, partnership and/or other action on the part of such Loan Party and such
Responsible Officer shall be conclusively presumed to have acted on behalf of such Loan Party.

"Restricted Payment” means any dividend or other distribution (whether in cash,
securities or other property) with respect to any capital stock or other Equity Interest of the G&E
Healthcare Borrower or any Subsidiary, or any payment (whether in cash, securities or other
property), including any sinking fund or similar deposit, on account of the purchase, redemption,
retirement, acquisition, cancellation or termination of any such capital stock or other Equity
Interest, or on account of any return of capital to the G&E Healthcare Borrower’s stockholders,
partners or members (or the equivalent Person thereof).

"Sale and Leaseback Transaction” means any arrangement pursuant to which any Loan
Party, directly or indirectly, becomes liable as lessee, guarantor or other surety with respect to
any lease, whether an operating lease or a capital lease, of any property (a) which such Loan Party
has sold or transferred (or is to sell or transfer) to a Person which is not a Loan Party, or
(b) which such Loan Party intends to use for substantially the same purpose as any other property
which has been sold or transferred (or is to be sold or transferred) by such Loan Party to another
Person which is not a Loan Party in connection with such lease.

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

"Secured Hedge Agreement” means any interest rate Swap Contract permitted under
Article VI or VII that is entered into by and between the Borrower and any Hedge
Bank.

"Secured Parties” means, collectively, the Administrative Agent, the Lenders, the
Hedge Banks, each co-agent or sub-agent appointed by the Administrative Agent from time to time
pursuant to Section 9.05, and the other Persons the Obligations owing to which are or are
purported to be secured by the Collateral under the terms of the Collateral Documents.

"Solvent” and “Solvency” mean, with respect to any Person on any date of
determination, that on such date (a) the fair value of the property of such Person is greater than
the total amount of liabilities, including contingent liabilities, of such Person, (b) the present
fair salable value of the assets of such Person is not less than the amount that will be required
to pay the probable liability of such Person on its debts as they become absolute and matured,
(c) such Person does not intend to, and does not believe that it will, incur debts or liabilities
beyond such Person’s ability to pay such debts and liabilities as they mature, (d) such Person is
not engaged in business or a transaction, and is not about to engage in business or a transaction,
for which such Person’s property would constitute an unreasonably small capital, and (e) such
Person is able to pay its debts and liabilities, contingent obligations and other commitments as
they mature in the ordinary course of business. The amount of contingent liabilities at any time
shall be computed as the amount that, in the light of all the facts and circumstances existing at
such time, represents the amount that can reasonably be expected to become an actual or matured
liability.

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

"Supermajority Lenders” means as of any date of determination, Lenders having at least
sixty six and two-thirds percent (66 2/3%) of the Aggregate Commitments; provided that, in each
case, the Commitment of any Defaulting Lender shall be excluded for purposes of making a
determination of Required Lenders.

"Swap Contract” means (a) any and all rate swap transactions, basis swaps, credit
derivative transactions, forward rate transactions, commodity swaps, commodity options, forward
commodity contracts, equity or equity index swaps or options, bond or bond price or bond index
swaps or options or forward bond or forward bond price or forward bond index transactions, interest
rate options, forward foreign exchange transactions, cap transactions, floor transactions, collar
transactions, currency swap transactions, cross-currency rate swap transactions, currency options,
spot contracts, or any other similar transactions or any combination of any of the foregoing
(including any options to enter into any of the foregoing), whether or not any such transaction is
governed by or subject to any master agreement, and (b) any and all transactions of any kind, and
the related confirmations, which are subject to the terms and conditions of, or governed by, any
form of master agreement published by the International Swaps and Derivatives Association, Inc.,
any International Foreign Exchange Master Agreement, or any other master agreement (any such master
agreement, together with any related schedules, a “Master Agreement”), including any such
obligations or liabilities under any Master Agreement. Any Swap Contract entered into by the
Borrower during the term of the Loan with a Hedge Bank or any Swap Counterparty may be secured by
collateral; provided that any such collateral is not comprised of, in whole or in part, any of the
Collateral.

"Swap Counterparty” means any bank or lending institution other than a Hedge Bank,
which is acceptable to the Administrative Agent in it sole discretion, in its capacity as a
counterparty under any Swap Contract that is not otherwise prohibited under Article VI or
VII.

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

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

"Threshold Amount” means $5,000,000.00.

"Total Outstandings” means the aggregate Outstanding Amount of all Loans.

"United States” and “U.S.” mean the United States of America.

"Unused Fee” has the meaning specified in Section 2.09(a).

"Unused Rate” means a percentage per annum equal to four tenths of one percent
(0.40%).

1.02 Other Interpretive Provisions. With reference to this Agreement and each other Loan
Document, unless otherwise specified herein or in such other Loan Document:

(a) The definitions of terms herein shall apply equally to the singular and plural
forms of the terms defined. Whenever the context may require, any pronoun shall include the
corresponding masculine, feminine and neuter forms. The words “include”,
“includes” and “including” shall be deemed to be followed by the phrase
“without limitation”. The word “will” shall be construed to have the same meaning
and effect as the word “shall.” Unless the context requires otherwise, (i) any
definition of or reference to any agreement, instrument or other document (including any
Organization Document) shall be construed as referring to such agreement, instrument or
other document as from time to time amended, supplemented or otherwise modified (subject to
any restrictions on such amendments, supplements or modifications set forth herein or in any
other Loan Document), (ii) any reference herein to any Person shall be construed to include
such Person’s successors and assigns, (iii) the words “herein”, “hereof” and
“hereunder”, and words of similar import when used in any Loan Document, shall be
construed to refer to such Loan Document in its entirety and not to any particular provision
thereof, (iv) all references in a Loan Document to Articles, Sections, Exhibits and
Schedules shall be construed to refer to Articles and Sections of, and Exhibits and
Schedules to, the Loan Document in which such references appear, (v) any reference to any
law shall include all statutory and regulatory provisions consolidating, amending, replacing
or interpreting such law and any reference to any law or regulation shall, unless otherwise
specified, refer to such law or regulation as amended, modified or supplemented from time to
time, and (vi) the words “asset” and “property” shall be construed to have
the same meaning and effect and to refer to any and all tangible and intangible assets and
properties, including cash, securities, accounts and contract rights.

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

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

1.03 Accounting Terms.

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

(b) Changes in GAAP. If at any time any change in GAAP would affect the computation
of any financial ratio or requirement set forth in any Loan Document, and either the Borrower or
the Required Lenders shall so request, the Administrative Agent, the Lenders and the Borrower shall
negotiate in good faith to amend such ratio or requirement to preserve the original intent thereof
in light of such change in GAAP (subject to the approval of the Required Lenders); provided that,
until so amended, (i) such ratio or requirement shall continue to be computed in accordance with
GAAP prior to such change therein and (ii) the Borrower shall provide to the Administrative Agent
and the Lenders financial statements and other documents required under this Agreement or as
reasonably requested hereunder setting forth a reconciliation between calculations of such ratio or
requirement made before and after giving effect to such change in GAAP.

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

1.05 Times of Day. Unless otherwise specified, all references herein to times of day shall be
references to Eastern time (daylight or standard, as applicable).

1.06 [Reserved].

1.07 Addition/Removal/Substitution of Borrowing Base Properties.

(a) As of the date hereof, the Borrower and the Administrative Agent hereby acknowledge and
agree that the only Borrowing Base Properties as of the date hereof are as set forth on
Schedule 5.24. The Borrower and the Administrative Agent further hereby acknowledge and
agree that the maximum total amount which the Borrower may be able to borrow hereunder as of the
date hereof is $8,950,000.00. The Borrower may from time to time amend Schedule 5.24 to
add an additional Real Property that qualifies as a Borrowing Base Property in an effort to
increase the available dollars to be lent to the Borrower hereunder ; provided no Real Property
shall be included as a Borrowing Base Property in any compliance certificate delivered to the
Administrative Agent, on Schedule 5.24 or otherwise in any calculation of the Borrowing
Base, the Collateral Value Amount, the Mortgageability Amount, the LTC Amount or any other
references to or purposes of “Borrowing Base Properties” unless the Borrower has delivered to the
Administrative Agent (i) the BBP Deliverables with respect to such Real Property, (ii) a Borrowing
Base Compliance Certificate signed by a Responsible Officer of the Guarantor on behalf of the
Borrower certifying compliance with the Borrowing Base, (iii) a Guarantor Covenant Compliance
Certificate signed by a Responsible Officer of the Guarantor in accordance with Section 16 of the
Guaranty, and (iv) an administrative fee in the amount of $15,000.00 for each transaction in which
Real Property is added, regardless of the number of Real Properties that are added in any such
transaction, and provided the Administrative Agent has approved in writing (or otherwise been
deemed to have been approved) such items and the qualification of such Real Property as a Borrowing
Base Property.

(b) Notwithstanding anything contained herein to the contrary, to the extent any property
previously-qualifying as a Borrowing Base Property ceases to meet the criteria for qualification as
such, such property shall be immediately removed from all covenant and Borrowing Base-related
calculations contained herein. Any such property shall immediately cease to be a “Borrowing Base
Property” hereunder and Schedule 5.24 attached hereto shall be deemed to have been
immediately amended to remove such Real Property from the list of Borrowing Base Properties and the
Borrower, to the extent applicable, shall comply with the terms and provisions of Section 8.04
herein.

(c) Subject to the Administrative Agent’s prior approval, which may be given or withheld in
the sole and absolute discretion of the Administrative Agent, the Loan Parties may voluntarily
remove any Borrowing Base Property from qualification as such (whether in anticipation of the
Disposition or encumbrance thereof or otherwise) or substitute one Borrowing Base Property for
another proposed Borrowing Base Property.

(d) Upon removal or substitution of a Borrowing Base Property, (i) Schedule 5.24 shall
be immediately amended to remove or substitute such Real Property from the list of Borrowing Base
Properties; (ii) the Borrower shall timely deliver a Borrowing Base Compliance Certificate with
respect to such removal or substitution in accordance with the terms of Section 6.03(e)
hereof after giving effect to such release; (iii) if and to the extent no Default is
then-continuing and the Administrative Agent determines that all information and calculations set
forth on such Borrowing Base Compliance Certificate is accurate in all material respects, all Liens
in favor of the Administrative Agent or the Lender on such Real Property shall be released promptly
by the Administrative Agent.

ARTICLE II.

THE COMMITMENTS AND CREDIT EXTENSIONS

2.01 Committed Loans. Subject to the terms and conditions set forth herein, each Lender
severally agrees to make loans (each such loan, a “Committed Loan”) to the Borrower from
time to time, on any Business Day during the Availability Period, in an aggregate amount not to
exceed at any time outstanding the amount of such Lender’s Commitment; provided, however, that
after giving effect to any Committed Borrowing, (i) the Total Outstandings shall not exceed the
Aggregate Commitments, (ii) the aggregate Outstanding Amount of the Committed Loans of any Lender
shall not exceed such Lender’s Commitment, and (iii) the Total Outstandings shall not exceed the
Borrowing Base. Within the limits of each Lender’s Commitment, and subject to the other terms and
conditions hereof, the Borrower may borrow under this Section 2.01, prepay under
Section 2.05, and reborrow under this Section 2.01. In addition, the Aggregate
Commitments shall never exceed $25,000,000.00.

2.02 Borrowings.

(a) Each Committed Borrowing shall be made upon the Borrower’s irrevocable written notice to
the Administrative Agent. Each such notice must be received by the Administrative Agent not later
than 11:00 a.m. on the requested date of any Borrowing. Each Committed Loan Notice shall specify
(i) the requested date of the Borrowing (which shall be a Business Day), and (ii) the principal
amount of Committed Loans to be borrowed.

(b) Following receipt of a Committed Loan Notice, the Administrative Agent shall promptly
notify each Lender of the amount of its Applicable Percentage of the applicable Committed Loans.
In the case of a Committed Borrowing, each Lender shall make the amount of its Committed Loan
available to the Administrative Agent in immediately available funds at the Administrative Agent’s
Office not later than 1:00 p.m. on the Business Day specified in the applicable Committed Loan
Notice. Upon satisfaction of the applicable conditions set forth in Section 4.02 (and, if
such Borrowing is the initial Credit Extension, Section 4.01), the Administrative Agent
shall make all funds so received available to the Borrower in like funds as received by the
Administrative Agent either by (i) crediting the account of the Borrower on the books of Bank of
America with the amount of such funds, or (ii) wire transfer of such funds, in each case in
accordance with instructions provided to (and reasonably acceptable to) the Administrative Agent by
the Borrower.

2.03 [Reserved].

2.04 [Reserved].

2.05 Prepayments. The Borrower may prepay Committed Loans in whole or in part, at any time or
in part from time to time, without fee, premium or penalty, provided that: (a) the Administrative
Agent shall have actually received from the Borrower at least one (1) day prior written notice of
(i) the Borrower’s intent to prepay, (ii) the amount of principal which will be prepaid, and (iii)
the date on which the prepayment will be made; (c) each prepayment shall be in the amount of
$1,000.00 or a larger integral multiple of $1,000.00 (unless the prepayment retires the entire
principal amount then outstanding); and (d) each prepayment shall include accrued unpaid interest
thereon to the date of prepayment, plus any other sums which have become due to the Administrative
Agent and the Lenders under the Loan Documents on or before the date of prepayment but have not
been paid. The Administrative Agent will promptly notify each Lender of its receipt of each such
notice, and of the amount of such Lender’s Applicable Percentage of such prepayment. If such
notice is given by the Borrower, the Borrower shall make such prepayment and the payment amount
specified in such notice shall be due and payable on the date specified therein. Subject to
Section 2.18, each such prepayment shall be applied to the Committed Loans of the Lenders
is accordance with their Applicable Percentages.

2.06 Termination or Reduction of Commitments. The Borrower may, upon notice to the
Administrative Agent, terminate the Aggregate Commitments or from time to time permanently reduce
the Aggregate Commitments; provided that (i) any such notice shall be received by the
Administrative Agent not later than 11:00 a.m. five (5) Business Days prior to the date of
termination or reduction, (ii) any such partial reduction shall be in an aggregate amount of
$5,000,000.00 or any whole multiple of $1,000,000.00 in excess thereof, and (iii) the Borrower
shall not terminate or reduce the Aggregate Commitments if, after giving effect thereto and to any
concurrent prepayments hereunder, the Total Outstandings would exceed the Aggregate Commitments.
The Administrative Agent will promptly notify the Lenders of any such notice of termination or
reduction of the Aggregate Commitments. Any reduction of the Aggregate Commitments shall be
applied to the Commitment of each Lender according to its Applicable Percentage. All fees accrued
until the effective date of any termination of the Aggregate Commitments shall be paid on the
effective date of such termination.

2.07 Repayment of Loans. The Borrower shall repay to the Lenders on the Maturity Date the
aggregate principal amount of Committed Loans outstanding on such date together with all accrued
and unpaid interest and all other amounts payable hereunder and under the other Loan Documents.
All such payments made shall be applied, to the extent thereof, to late charges, to accrued but
unpaid interest, to unpaid principal, and to any other sums due and unpaid to the Administrative
Agent and the Lenders under the Loan Documents, in such manner and order as the Administrative
Agent may elect in its sole discretion, any instructions from the Borrower or anyone else to the
contrary notwithstanding. Remittances shall be made without offset, demand, counterclaim,
deduction or recoupment (each of which is hereby waived) and shall be accepted subject to the
condition that any check or draft may be handled for collection in accordance with the practice of
the collecting bank or banks. Acceptance by the Administrative Agent and the Lenders of any
payment in an amount less than the amount then due on any indebtedness shall be deemed an
acceptance on account only, notwithstanding any notation on or accompanying such partial payment to
the contrary, and shall not in any way (a) waive or excuse the existence of a Default or an Event
of Default, (b) waive, impair or extinguish any right or remedy available to the Administrative
Agent and the Lenders hereunder or under the other Loan Documents, or (c) waive the requirement of
punctual payment and performance or constitute a novation in any respect. Payments received after
2:00 p.m. Chicago time shall be deemed to be received on, and shall be posted as of, the following
Business Day. Whenever any payment under the Note or any other Loan Document falls due on a day
which is not a Business Day, such payment may be made on the next succeeding Business Day.

2.08 Interest.

(a) BBA LIBOR Daily Floating Rate. The unpaid principal balance under the Loan from
day to day outstanding which is not past due, shall bear interest at a rate equal to the higher of
(i) a fluctuating rate of interest per annum equal to the BBA LIBOR Daily Floating Rate plus the
Applicable Margin, and (ii) five percent (5.0%) per annum. The “BBA LIBOR Daily Floating
Rate” shall mean a fluctuating rate of interest per annum equal to the British Bankers
Association LIBOR Rate (“BBA LIBOR”), as published by Reuters (or other commercially
available source providing quotations of BBA LIBOR as selected by the Administrative Agent from
time to time) as determined for each Business Day at approximately 11:00 a.m. London time two (2)
London Banking Days prior to the date in question, for U.S. Dollar deposits (for delivery on the
first day of such interest period) with a one (1) month term, as adjusted from time to time in
Lender’s sole discretion for reserve requirements, deposit insurance assessment rates and other
regulatory costs.

(b) Alternative Rates. The Administrative Agent may notify the Borrower if the BBA
LIBOR Daily Floating Rate is not available for any reason, or if the Administrative Agent
determines that no adequate basis exists for determining the BBA LIBOR Daily Floating Rate or that
the BBA LIBOR Daily Floating Rate will not adequately and fairly reflect the cost to the Lenders of
funding the Loan, or that any applicable Law or regulation or compliance therewith by the Lenders
prohibits or restricts or makes impossible the charging of interest based on the BBA LIBOR Daily
Floating Rate. If Administrative Agent so notifies Borrower, then interest shall accrue and be
payable on the unpaid principal hereunder at a rate equal to the greater of (i) five percent (5.0%)
per annum, or (ii) a fluctuating rate of interest per annum equal to the Prime Rate of
Administrative Agent plus the Applicable Margin, from the date of such notification by
Administrative Agent until Administrative Agent notifies Borrower that the circumstances giving
rise to such suspension no longer exist or until the Maturity Date (whether by acceleration,
declaration, extension or otherwise), whichever is earlier to occur.

(c) Default Rate. If any Event of Default has occurred or if an amount payable by the
Borrower under any Loan Document is not paid when due (without regard to any applicable grace
periods), such amount shall thereafter bear interest at the Default Rate (as defined below) to the
fullest extent permitted by applicable Law. Accrued and unpaid interest on past due amounts
(including interest on past due interest) shall be due and payable on demand, at a fluctuating rate
per annum (the “Default Rate”) equal to the BBA LIBOR Daily Floating Rate plus the
Applicable Margin plus four percent (4.0%) per annum.

(d) Interest Payments. Interest on each Loan shall be due and payable in arrears on
each Interest Payment Date applicable thereto and at such other times as may be specified herein
until all principal and accrued interest owing hereunder shall have been fully paid and satisfied.
Interest hereunder shall be due and payable in accordance with the terms hereof before and after
judgment, and before and after the commencement of any proceeding under, any Debtor Relief Law.

2.09 Fees and Escrow Accounts. In addition to certain fees which the Borrower shall be
obligated to pay pursuant to the Loan Documents:

(a) Unused Fees. The Borrowers shall, for each day during the term of this Agreement
on which there exist any Commitments, pay to the Administrative Agent for the account of each
Lender holding a Commitment (in accordance with such Lender’s Applicable Percentage thereof), an
unused fee (the “Unused Fee”) equal to the Unused Rate times the actual daily amount by
which the Aggregate Commitments exceed the Total Outstandings as of such date, subject to
adjustment as provided in Section 2.18. The Unused Fee shall accrue at all times during
the term of this Agreement on which there exist any Commitments, including at any time during which
one or more of the conditions in Article V is not met, and shall be due and payable
quarterly in arrears on the first day of each January, April, July and October (or the next
succeeding Business Day if such day is not a Business Day), commencing on July 1, 2010 (with such
initial payment to include such fees commencing from the Closing Date), and on the Maturity Date.
The Unused Fee shall be calculated quarterly in arrears, based on the applicable daily Unused Rates
during each day of such quarter.

(b) Other Fees.

(i) The Borrower shall pay to the Administrative Agent fees in the amounts and at the times
specified in the Fee Letter. Such fees shall be fully earned when paid and shall not be refundable
for any reason whatsoever.

(ii) The Borrower shall pay to the Lenders such fees as shall have been separately agreed upon
in writing in the amounts and at the times so specified. Such fees shall be fully earned when paid
and shall not be refundable for any reason whatsoever.

(iii) Borrower shall pay to the Administrative Agent an administrative fee in the amount of
$15,000.00 for each transaction in which Real Property is added, regardless of the number of Real
Properties that are added in any such transaction, as a condition to the acceptance by the
Administrative Agent to the addition of new Real Properties as a Borrowing Base Property.

(c) Escrow Accounts. Upon the occurrence and during the continuance of an Event of
Default, upon the request of the Administrative Agent, the Borrower shall deposit monthly with
payments of interest with the Administrative Agent an amount as reasonably estimated by the
Administrative Agent from time to time in such manner as the Administrative Agent may prescribe so
as to provide for the payment of the current year’s real estate tax and insurance obligations with
respect to the Borrowing Base Properties.

2.10 Computation of Interest and Fees; Retroactive Adjustments of Interest Rate. All
computations of interest for Loans and of fees and other interest shall be made on the basis of a
360-day year and actual days elapsed (which results in more fees or interest, as applicable, being
paid than if computed on the basis of a 365-day year). Interest shall accrue on each Loan for the
day on which the Loan is made, and shall not accrue on a Loan, or any portion thereof, for the day
on which the Loan or such portion is paid, provided that any Loan that is repaid on the same day on
which it is made shall, subject to Section 2.12(a), bear interest for one (1) day. Each
determination by the Administrative Agent of an interest rate or fee hereunder shall be conclusive
and binding for all purposes, absent manifest error.

2.11 Evidence of Debt. The Credit Extensions made by each Lender shall be evidenced by one (1) or
more accounts or records maintained by such Lender and by the Administrative Agent in the ordinary
course of business. The accounts or records maintained by the Administrative Agent and each Lender
shall be conclusive absent manifest error of the amount of the Credit Extensions made by the
Lenders to the Borrower and the interest and payments thereon. Any failure to so record or any
error in doing so shall not, however, limit or otherwise affect the obligation of the Borrower
hereunder to pay any amount owing with respect to the Obligations. In the event of any conflict
between the accounts and records maintained by any Lender and the accounts and records of the
Administrative Agent in respect of such matters, the accounts and records of the Administrative
Agent shall control in the absence of manifest error. Upon the request of any Lender made through
the Administrative Agent, the Borrower shall execute and deliver to such Lender (through the
Administrative Agent) a Note, which shall evidence such Lender’s Loans in addition to such accounts
or records. Each Lender may attach schedules to its Note and endorse thereon the date, amount and
maturity of its Loans and payments with respect thereto. In no event shall the aggregate stated
face amount of the Notes exceed the Aggregate Commitments.

2.12 Payments Generally; Administrative Agent’s Clawback.

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

(b) (i) Funding by Lenders; Presumption by Administrative Agent. Unless the
Administrative Agent shall have received notice from a Lender prior to the proposed date of any
Committed Borrowing of a Loan prior to 12:00 noon on the date of such Committed Borrowing that such
Lender will not make available to the Administrative Agent such Lender’s share of such Committed
Borrowing, the Administrative Agent may assume that such Lender has made such share available in
accordance with and at the time required by Section 2.02 and may, in reliance upon such
assumption, make available to the Borrower a corresponding amount. In such event, if a Lender has
not in fact made its share of the applicable Committed Borrowing available to the Administrative
Agent, then the applicable Lender and the Borrower severally agree to pay to the Administrative
Agent forthwith on demand such corresponding amount in immediately available funds with interest
thereon, for each day from and including the date such amount is made available to the Borrower to
but excluding the date of payment to the Administrative Agent, at (A) in the case of a payment to
be made by such Lender, the greater of the Federal Funds Rate and a rate determined by the
Administrative Agent in accordance with banking industry rules on interbank compensation, plus any
administrative, processing or similar fees customarily charged by the Administrative Agent in
connection with the foregoing, and (B) in the case of a payment to be made by the Borrower, the
applicable Prime Rate of interest hereunder. If the Borrower and such Lender shall pay such
interest to the Administrative Agent for the same or an overlapping period, the Administrative
Agent shall promptly remit to the Borrower the amount of such interest paid by the Borrower for
such period. If such Lender pays its share of the applicable Committed Borrowing to the
Administrative Agent, then the amount so paid shall constitute such Lender’s Committed Loan
included in such Committed Borrowing. Any payment by the Borrower shall be without prejudice to
any claim the Borrower may have against a Lender that shall have failed to make such payment to the
Administrative Agent.

(ii) Payments by Borrower; Presumptions by Administrative Agent. Unless the
Administrative Agent shall have received notice from the Borrower prior to the date on which any
payment is due to the Administrative Agent for the account of the Lenders hereunder that the
Borrower will not make such payment, the Administrative Agent may assume that the Borrower has made
such payment on such date in accordance herewith and may, in reliance upon such assumption,
distribute to the Lenders the amount due. In such event, if the Borrower has not in fact made such
payment, then each of the Lenders severally agrees to repay to the Administrative Agent forthwith
on demand the amount so distributed to such Lender in immediately available funds with interest
thereon, for each day from and including the date such amount is distributed to it to but excluding
the date of payment to the Administrative Agent, at the greater of the Federal Funds Rate and a
rate determined by the Administrative Agent in accordance with banking industry rules on interbank
compensation.

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

(c) Failure to Satisfy Conditions Precedent. If any Lender makes available to the
Administrative Agent funds for any Loan to be made by such Lender as provided in the foregoing
provisions of this Article II, and such funds are not made available to the Borrower by the
Administrative Agent because the conditions to the applicable Credit Extension set forth in
Article IV are not satisfied or waived in accordance with the terms hereof, the
Administrative Agent shall return such funds (in like funds as received from such Lender) to such
Lender, without interest.

(d) Obligations of Lenders Several. The obligations of the Lenders hereunder to make
Committed Loans and to make payments pursuant to Section 10.04(c) are several and not
joint. The failure of any Lender to make any Committed Loan, to fund any such participation or to
make any payment under Section 10.04(c) on any date required hereunder shall not relieve
any other Lender of its corresponding obligation to do so on such date, and no Lender shall be
responsible for the failure of any other Lender to so make its Committed Loan, to purchase its
participation or to make its payment under Section 10.04(c).

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

2.13 Sharing of Payments by Lenders. If any Lender shall, by exercising any right of setoff
or counterclaim or otherwise, obtain payment in respect of any principal of or interest on any of
the Committed Loans made by it, resulting in such Lender’s receiving payment of a proportion of the
aggregate amount of such Committed Loans or participations and accrued interest thereon greater
than its pro rata share thereof as provided herein, then the Lender receiving such greater
proportion shall (a) notify the Administrative Agent of such fact, and (b) purchase (for cash at
face value) participations in the Committed Loans, or make such other adjustments as shall be
equitable, so that the benefit of all such payments shall be shared by the Lenders ratably in
accordance with the aggregate amount of principal of and accrued interest on their respective
Committed Loans and other amounts owing them, provided that:

(i) if any such participations or subparticipations are purchased and all or any
portion of the payment giving rise thereto is recovered, such participations or
subparticipations shall be rescinded and the purchase price restored to the extent of such
recovery, without interest; and

(ii) the provisions of this Section shall not be construed to apply to (A) any payment
made by or on behalf of the Borrower pursuant to and in accordance with the express terms of
this Agreement (including the application of funds arising from the existence of a
Defaulting Lender), or (B) any payment obtained by a Lender as consideration for the
assignment of or sale of a participation in any of its Committed Loans, other than an
assignment to the Borrower or any Affiliate thereof (as to which the provisions of this
Section shall apply).

Each Loan Party consents to the foregoing and agrees, to the extent it may effectively do so
under applicable law, that any Lender acquiring a participation pursuant to the foregoing
arrangements may exercise against such Loan Party rights of setoff and counterclaim with respect to
such participation as fully as if such Lender were a direct creditor of such Loan Party in the
amount of such participation.

2.14 Extension of Maturity Date.

(a) Initial Maturity Date. Subject to extension pursuant to the terms and conditions
set forth in clause (b) of this Section 2.14, and subject to the provisions of
clause (c) of this Section 2.14, the Borrower shall, on the second anniversary of
the date hereof (the “Initial Maturity Date”), cause the Obligations (including, without
limitation, all outstanding principal and interest on the Loans and all fees, costs and expenses
due and owing under the Loan Documents) to be Fully Satisfied.

(b) Extended Maturity Date Option. Not more than one hundred eighty (180) days and
not less than forty-five (45) days prior to the Initial Maturity Date, the Borrower may request in
writing that the Lenders extend the term of this Agreement by one (1) additional year to the third
anniversary of the date hereof (the end of such period being the “Extended Maturity Date”).
Each Lender agrees that the Maturity Date shall be extended following such a request from the
Borrowers subject to satisfaction of the following terms and conditions:

(i) at the time of the request, and at the time of the extension, there shall not exist
any Default or Event of Default, nor any condition or state of facts which after notice
and/or lapse of time would constitute a Default or an Event of Default;

(ii) each of the Borrowing Base Properties shall have been reappraised on or prior to
the Initial Maturity Date (but not more than ninety (90) days prior to such date) pursuant
to Appraisals acceptable to the Administrative Agent (such Appraisals to be commissioned by
the Administrative Agent and paid for by the Borrower);

(iii) the Total Outstandings shall be less than the Borrowing Base, as adjusted in
connection with the Appraisals obtained pursuant to subclause (ii) above as more
particularly set forth in an executed Borrowing Base Compliance Certificate signed by a
Responsible Officer of the Guarantor on behalf of the Borrower certifying same at the time
of the request, and at the time of the extension, satisfied;

(iv) satisfactory evidence from the Guarantor that all financial covenants of the
Guarantor as set forth in the Guaranty Agreement shall be satisfied;

(v) the Borrower shall, at the Initial Maturity Date, pay to the Administrative Agent
(for the pro rata benefit of the Lenders based on their respective Applicable Percentage as
of such date) an extension fee in the amount of $93,750.00, and shall have paid all other
outstanding fees, expenses or other amounts for which the Loan Parties are responsible
hereunder;

(vi) all applicable regulatory requirements, including appraisal requirements, shall
have been satisfied with respect to the extension;

(vii) not later than the Initial Maturity Date, (A) the extension shall have been
documented to the Administrative Agent’s reasonable satisfaction by each Borrower, the
Guarantor, the Lenders, and all other parties deemed necessary by the Administrative Agent;
and (B) the Administrative Agent shall have been provided with an updated title report and
judgment and lien searches and appropriate title insurance endorsements shall have been
issued as required by the Administrative Agent; and

(viii) each Loan Party shall deliver to the Administrative Agent a certificate dated as
of the Initial Maturity Date (in sufficient copies for each Lender) signed by a Responsible
Officer of such Loan Party (A) certifying and attaching the resolutions adopted by such Loan
Party approving or consenting to such extension, and (B) certifying that, before and after
giving effect to such extension, (1) the representations and warranties of such Loan Party
contained in Article V and the other Loan Documents are true and correct in all
material respects on and as of the Initial Maturity Date, except to the extent that such
representations and warranties specifically refer to an earlier date, in which case they are
true and correct as of such earlier date, and except that for purposes of this Section
2.14, the representations and warranties contained in subsections (a) and (b) of
Section 5.05 shall be deemed to refer to the most recent statements furnished
pursuant to subsections (a) and (b), respectively, of Section 6.01, and (2)
no Default exists.

(ix) Whether or not the extension becomes effective, the Borrower shall pay all
out-of-pocket costs and expenses incurred by the Administrative Agent and the Lenders in
connection with the proposed extension (pre- and post-closing), including appraisal fees,
environmental audit and reasonable attorneys’ fees actually incurred by the Administrative
Agent and the Lenders all such costs and expenses incurred up to the time of the Lenders’
written agreement to the extension shall be due and payable prior to the Administrative
Agent’s and the Lenders’ execution of that agreement (or if the proposed extension does not
become effective, then upon demand by the Administrative Agent), and any future failure to
pay such amounts shall constitute an Event of Default under the Loan Documents.

(c) Notification by Administrative Agent. The Administrative Agent shall notify the
Borrower and each of the Lenders of the effectiveness of any extension pursuant to this Section
2.14.

(d) Satisfaction of Obligations Upon Acceleration. Notwithstanding anything contained
herein or in any other Loan Document to the contrary, to the extent any of the Obligations are
accelerated pursuant to the terms hereof (including, without limitation, Section 8.02
hereof) or of any other Loan Document, the Borrower shall, immediately upon the occurrence of such
acceleration, cause such accelerated Obligations to be Fully Satisfied.

(e) Conflicting Provisions. This Section shall supersede any provisions in
Sections 2.13 or 10.01 to the contrary.

	 	 	 	 	 
	2.15	 	Reserved.
	 	2.16	 	 	[Reserved].

	 	2.17	 	 	[Reserved].

	 	2.18	 	 	Defaulting Lenders.

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

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

(ii) Reallocation of Payments. Any payment of principal, interest, fees or
other amounts received by the Administrative Agent for the account of that Defaulting Lender
(whether voluntary or mandatory, at maturity, pursuant to Article VIII or otherwise,
and including any amounts made available to the Administrative Agent by that Defaulting
Lender pursuant to Section 10.08), shall be applied at such time or times as may be
determined by the Administrative Agent as follows: first, to the payment of any amounts
owing by that Defaulting Lender to the Administrative Agent hereunder; second, as the
Borrower may request (so long as no Default or Event of Default exists), to the funding of
any Loan in respect of which that Defaulting Lender has failed to fund its portion thereof
as required by this Agreement, as determined by the Administrative Agent; third, if so
determined by the Administrative Agent and the Borrower, to be held in a non-interest
bearing deposit account and released in order to satisfy obligations of that Defaulting
Lender to fund Loans under this Agreement; fourth, to the payment of any amounts owing to
the Lenders as a result of any judgment of a court of competent jurisdiction obtained by any
Lender against that Defaulting Lender as a result of that Defaulting Lender’s breach of its
obligations under this Agreement; fifth, so long as no Default or Event of Default exists,
to the payment of any amounts owing to the Borrower as a result of any judgment of a court
of competent jurisdiction obtained by the Borrower against that Defaulting Lender as a
result of that Defaulting Lender’s breach of its obligations under this Agreement; and
sixth, to that Defaulting Lender or as otherwise directed by a court of competent
jurisdiction; provided that if (A) such payment is a payment of the principal amount of any
Loans in respect of which that Defaulting Lender has not fully funded its appropriate share,
and (B) such Loans were made at a time when the conditions set forth in Section 4.02
were satisfied or waived, such payment shall be applied solely to pay the Loans of all
non-Defaulting Lenders on a pro rata basis prior to being applied to the payment of any
Loans of that Defaulting Lender. Any payments, prepayments or other amounts paid or payable
to a Defaulting Lender that are applied (or held) to pay amounts owed by a Defaulting Lender
shall be deemed paid to and redirected by that Defaulting Lender, and each Lender
irrevocably consents hereto.

(iii) Certain Fees. That Defaulting Lender shall not be entitled to receive
any Unused Fee pursuant to Section 2.10(a) for any period during which that Lender
is a Defaulting Lender (and the Borrower shall not be required to pay any such Unused Fee
that otherwise would have been required to have been paid to that Defaulting Lender.

(b) Defaulting Lender Cure. If the Borrower and the Administrative Agent agree in
writing in their sole discretion that a Defaulting Lender should no longer be deemed to be a
Defaulting Lender, the Administrative Agent will so notify the parties hereto, whereupon as of the
effective date specified in such notice and subject to any conditions set forth therein, that
Lender will, to the extent applicable, purchase that portion of outstanding Loans of the other
Lenders or take such other actions as the Administrative Agent may determine to be necessary to
cause the Committed Loans to be held on a pro rata basis by the Lenders in accordance with their
Applicable Percentages (without giving effect to Section 2.18(a)(iv)), whereupon that
Lender will cease to be a Defaulting Lender; provided that no adjustments will be made
retroactively with respect to fees accrued or payments made by or on behalf of the Borrower while
that Lender was a Defaulting Lender; and provided, further, that except to the extent otherwise
expressly agreed by the affected parties, no change hereunder from Defaulting Lender to Lender will
constitute a waiver or release of any claim of any party hereunder arising from that Lender’s
having been a Defaulting Lender.

ARTICLE III.

TAXES, YIELD PROTECTION AND ILLEGALITY

3.01 Taxes.

(a) Payments Free of Taxes; Obligation to Withhold; Payments on Account of Taxes. (i)
Any and all payments by or on account of any obligation of the Borrower hereunder or under any
other Loan Document shall to the extent permitted by applicable Laws be made free and clear of and
without reduction or withholding for any Taxes. If, however, applicable Laws require the Borrower
or the Administrative Agent to withhold or deduct any Tax, such Tax shall be withheld or deducted
in accordance with such Laws as determined by the Borrower or the Administrative Agent, as the case
may be, upon the basis of the information and documentation to be delivered pursuant to
subsection (e) below.

(ii) If the Borrower or the Administrative Agent shall be required by the Code to withhold or
deduct any Taxes, including both United States Federal backup withholding and withholding taxes,
from any payment, then (A) the Administrative Agent shall withhold or make such deductions as are
determined by the Administrative Agent to be required based upon the information and documentation
it has received pursuant to subsection (e) below, (B) the Administrative Agent shall timely
pay the full amount withheld or deducted to the relevant Governmental Authority in accordance with
the Code, and (C) to the extent that the withholding or deduction is made on account of Indemnified
Taxes or Other Taxes, the sum payable by the Borrower shall be increased as necessary so that after
any required withholding or the making of all required deductions (including deductions applicable
to additional sums payable under this Section) the Administrative Agent or Lender, as the case may
be, receives an amount equal to the sum it would have received had no such withholding or deduction
been made.

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

(c) Tax Indemnifications. (i) Without limiting the provisions of subsection (a)
or (b) above, the Borrower shall, and does hereby, indemnify the Administrative Agent and each
Lender, and shall make payment in respect thereof within ten (10) days after demand therefor, for
the full amount of any Indemnified Taxes or Other Taxes (including Indemnified Taxes or Other Taxes
imposed or asserted on or attributable to amounts payable under this Section) withheld or deducted
by the Borrower or the Administrative Agent or paid by the Administrative Agent or such Lender, as
the case may be, and any penalties, interest and reasonable expenses arising therefrom or with
respect thereto, whether or not such Indemnified Taxes or Other Taxes were correctly or legally
imposed or asserted by the relevant Governmental Authority. The Borrower shall also, and does
hereby, indemnify the Administrative Agent, and shall make payment in respect thereof within ten
(10) days after demand therefor, for any amount which a Lender for any reason fails to pay
indefeasibly to the Administrative Agent as required by clause (ii) of this subsection. A
certificate as to the amount of any such payment or liability delivered to the Borrower by a Lender
(with a copy to the Administrative Agent), or by the Administrative Agent on its own behalf or on
behalf of a Lender, shall be conclusive absent manifest error.

(ii) Without limiting the provisions of subsection (a) or (b) above, each
Lender shall, and does hereby, indemnify the Borrower and the Administrative Agent, and
shall make payment in respect thereof within ten (10) days after demand therefor, against
any and all Taxes and any and all related losses, claims, liabilities, penalties, interest
and expenses (including the fees, charges and disbursements of any counsel for the Borrower
or the Administrative Agent) incurred by or asserted against the Borrower or the
Administrative Agent by any Governmental Authority as a result of the failure by such Lender
to deliver, or as a result of the inaccuracy, inadequacy or deficiency of, any documentation
required to be delivered by such Lender to the Borrower or the Administrative Agent pursuant
to subsection (e). Each Lender hereby authorizes the Administrative Agent to set
off and apply any and all amounts at any time owing to such Lender under this Agreement or
any other Loan Document against any amount due to the Administrative Agent under this
clause (ii). The agreements in this clause (ii) shall survive the
resignation and/or replacement of the Administrative Agent, any assignment of rights by, or
the replacement of, a Lender, the termination of the Aggregate Commitments and the
repayment, satisfaction or discharge of all other Obligations.

(d) Evidence of Payments. Upon request by the Borrower or the Administrative Agent,
as the case may be, after any payment of Taxes by the Borrower or the Administrative Agent to a
Governmental Authority as provided in this Section 3.01, the Borrower shall deliver to the
Administrative Agent or the Administrative Agent shall deliver to the Borrower, as the case may be,
the original or a certified copy of a receipt issued by such Governmental Authority evidencing such
payment, a copy of any return required by Law to report such payment or other evidence of such
payment reasonably satisfactory to the Borrower or the Administrative Agent, as the case may be.

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

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

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

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

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

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

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

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

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

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

(f) Treatment of Certain Refunds. Unless required by applicable Laws, at no time
shall the Administrative Agent have any obligation to file for or otherwise pursue on behalf of a
Lender, or have any obligation to pay to any Lender, any refund of Taxes withheld or deducted from
funds paid for the account of such Lender, as the case may be. If the Administrative Agent or any
Lender determines, in its sole discretion, that it has received a refund of any Taxes or Other
Taxes as to which it has been indemnified by the Borrower or with respect to which the Borrower has
paid additional amounts pursuant to this Section, it shall pay to the Borrower an amount equal to
such refund (but only to the extent of indemnity payments made, or additional amounts paid, by the
Borrower under this Section with respect to the Taxes or Other Taxes giving rise to such refund),
net of all out-of-pocket expenses incurred by the Administrative Agent or such Lender and without
interest (other than any interest paid by the relevant Governmental Authority with respect to such
refund), provided that the Borrower, upon the request of the Administrative Agent or such Lender
agrees to repay the amount paid over to the Borrower (plus any penalties, interest or other charges
imposed by the relevant Governmental Authority) to the Administrative Agent or such Lender in the
event the Administrative Agent or such Lender is required to repay such refund to such Governmental
Authority. This subsection shall not be construed to require the Administrative Agent or any
Lender to make available its tax returns (or any other information relating to its taxes that it
deems confidential) to the Borrower or any other Person.

3.02 Survival. All of the Borrower’s obligations under this Article III shall survive
termination of the Aggregate Commitments, repayment of all other Obligations hereunder and
resignation of the Administrative Agent.

ARTICLE IV.

CONDITIONS PRECEDENT TO CREDIT EXTENSIONS

4.01 Conditions of Closing the Loan and Initial Credit Extension. The obligation of each
Lender to close the Loan and make its initial Credit Extension hereunder is subject to satisfaction
of the following conditions precedent:

(a) The Administrative Agent’s receipt of the following, each of which shall be originals or
telecopies (followed promptly by originals) unless otherwise specified, each properly executed by a
Responsible Officer of the signing Loan Party, each dated the Closing Date (or, in the case of
certificates of governmental officials, a recent date before the Closing Date) and each in form and
substance satisfactory to the Administrative Agent and each of the Lenders:

(i) executed counterparts of this Agreement, sufficient in number for distribution to
the Administrative Agent, each Lender and the Borrower;

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

(iii) the Pledge Agreement (together with each other pledge and security agreement and
pledge and security agreement supplement delivered pursuant to Section 6.13, in each
case as amended or modified), duly executed by each Person required to execute same pursuant
to the terms hereof;

(iv) deeds of trust, trust deeds, deeds to secure debt, mortgages, leasehold mortgages
and leasehold deeds of trust, in substantially the form of Exhibit D (with such
changes as may be satisfactory to the Administrative Agent and its counsel to account for
local law matters) and covering each of the Borrowing Base Properties existing as of the
Closing Date (together with an assignments of leases and rents referred to therein, if any,
and each other deed of trust, trust deed, deed to secure debt, mortgage, leasehold mortgage
or leasehold deed of trust delivered pursuant hereto, in each case as amended or modified,
the “Mortgages”), duly executed by the appropriate Loan Party, together, in each
case, with the BBP Deliverables related thereto;

(v) the Guaranty Agreement duly executed by the Guarantor;

(vi) the Environmental Agreement duly executed by all parties thereto;

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

(viii) copies of the Organization Documents of each Loan Party certified to be true and
complete as of a recent date by the appropriate Governmental Authority of the state or other
jurisdiction of its incorporation or organization, where applicable, and certified by a
secretary or assistant secretary of such Borrower to be true and correct as of the Closing
Date and such other documents and certifications as the Administrative Agent may reasonably
require to evidence that each Loan Party is duly organized or formed, and that each of the
Loan Parties is validly existing, in good standing and qualified to engage in business in
each jurisdiction where its ownership, lease or operation of properties or the conduct of
its business requires such qualification;

(ix) a legal opinion (which shall be in form and substance satisfactory to the
Administrative Agent) from (A) Arnall Golden Gregory LLP, counsel to the Loan Parties,
addressed to the Administrative Agent and each Lender, as to certain matters including,
without limitation, the due organization, authority of the Loan Parties and the legality,
validity, binding effect and enforceability of the Loan Documents against the applicable
Loan Parties, and (B) the Administrative Agent-approved local counsel to the Loan Parties in
each state in which any Borrowing Base Property is located, addressed to the Administrative
Agent and each Lender, as to certain matters including, without limitation, the
enforceability of the Mortgage against the applicable Loan Parties;

(x) a certificate of a Responsible Officer of each Loan Party either (A) attaching
copies of all consents, licenses and approvals required in connection with the execution,
delivery and performance by such Loan Party and the validity against such Loan Party of the
Loan Documents to which it is a party, and such consents, licenses and approvals shall be in
full force and effect, or (B) stating that no such consents, licenses or approvals are so
required;

(xi) a certificate signed by a Responsible Officer of the Guarantor certifying (A) that
the conditions specified in Sections 4.02(a), (b) and (c) have been
satisfied, and (B) that there has been no event or circumstance since the date of the
Financial Statements that has had or could be reasonably expected to have, either
individually or in the aggregate, a Material Adverse Effect;

(xii) a duly completed Borrowing Base Compliance Certificate signed by a Responsible
Officer of the Guarantor on behalf of the Borrower certifying as of the Closing Date the
then applicable Borrowing Base;

(xiii) evidence that all insurance required to be maintained pursuant to the Loan
Documents has been obtained and is in effect; and

(xiv) such other assurances, certificates, documents, consents or opinions as the
Administrative Agent or the Required Lenders reasonably may require.

(b) Each of the Borrowing Base Properties shall have been appraised on or prior to the Closing
Date (but not more than ninety (90) days prior to such date) pursuant to Appraisals acceptable to
the Administrative Agent (such Appraisals to be commissioned by the Administrative Agent and paid
for by the Borrower).

(c) Any fees required to be paid on or before the Closing Date shall have been paid, which
fees may be paid from Loan proceeds to the extent that the Borrowing Base permits.

(d) Unless waived by the Administrative Agent, the Borrower shall have paid all fees, charges
and disbursements of counsel to the Administrative Agent (directly to such counsel if requested by
the Administrative Agent) to the extent invoiced prior to or on the Closing Date, plus such
additional amounts of such fees, charges and disbursements as shall constitute its reasonable
estimate of such fees, charges and disbursements incurred or to be incurred by it through the
closing proceedings (provided that such estimate shall not thereafter preclude a final settling of
accounts between the Borrower and the Administrative Agent).

(e) The representations and warranties of the Borrower and each other Loan Party contained in
Article V or any other Loan Document, or which are contained in any document furnished at
any time under or in connection herewith or therewith, shall be true and correct on and as of the
Closing Date.

(f) No Default shall exist, or would result from, such proposed Credit Extension or from the
application of the proceeds thereof.

(g) There shall not have occurred a material adverse change (i) in the business, assets,
properties, liabilities (actual or contingent), operations, condition (financial or otherwise) of
the Loan Parties, taken as a whole, from the date of the Financial Statements through and including
the Closing Date, or (ii) in the facts and information regarding such entities as represented to
date and the Administrative Agent shall have completed a due diligence investigation of the Loan
Parties (with the aid of such parties) revealing no material adverse changes or departures from the
information and materials previously provided by such parties.

(h) The absence of any condition, circumstance, action, suit, investigation or proceeding
pending or, to the knowledge of the Borrower and/or the Guarantor, threatened in any court or
before any arbitrator or governmental authority that could reasonably be expected to have a
Material Adverse Effect.

Without limiting the generality of the provisions of the last paragraph of Section
9.03, for purposes of determining compliance with the conditions specified in this Section
4.01, each Lender that has signed this Agreement shall be deemed to have consented to, approved
or accepted or to be satisfied with, each document or other matter required thereunder to be
consented to or approved by or acceptable or satisfactory to a Lender unless the Administrative
Agent shall have received notice from such Lender prior to the proposed Closing Date specifying its
objection thereto.

4.02 Conditions to all Credit Extensions. The obligation of each Lender to honor any Request
for Credit Extension is subject to the following conditions precedent:

(a) The representations and warranties of the Borrower and each other Loan Party contained in
Article V or any other Loan Document, or which are contained in any document furnished at
any time under or in connection herewith or therewith, shall be true and correct on and as of the
date of such Credit Extension, except to the extent that such representations and warranties
specifically refer to an earlier date, in which case they shall be true and correct as of such
earlier date, and except that for purposes of this Section 4.02, the representations and
warranties contained in subsections (a) and (b) of Section 5.05 shall be deemed to
refer to the most recent statements furnished pursuant to clauses (a) and (b),
respectively, of Section 6.01.

(b) No Default shall exist, or would result from such proposed Credit Extension or from the
application of the proceeds thereof.

(c) Assuming the effectiveness of the requested Credit Extension, (i) the Total Outstandings
as of such date do not exceed the Borrowing Base; and (ii) the Total Outstandings do not exceed the
Aggregate Commitments as evidenced by a Borrowing Base Compliance Certificate signed by a
Responsible Officer of the Guarantor on behalf of the Borrower.

(d) The Administrative Agent shall have received a Request for Credit Extension in accordance
with the requirements hereof.

(e) The Administrative Agent shall have received a Guarantor Covenant Compliance Certificate
signed by a Responsible Officer of the Guarantor in accordance with Section 16 of the Guaranty.

Each Request for Credit Extension submitted by the Borrower shall be deemed to be a
representation and warranty that the conditions specified in Sections 4.02(a), (b)
and (c) have been satisfied on and as of the date of the applicable Credit Extension. In
addition, Borrower shall be limited to no more than five (5) Requests for Credit Extension in any
one calendar month.

ARTICLE V.

REPRESENTATIONS AND WARRANTIES

The Borrower represents and warrants to the Administrative Agent and the Lenders that:

5.01 Existence, Qualification and Power. Each Loan Party (a) is duly organized or formed,
validly existing and, as applicable, in good standing under the Laws of the jurisdiction of its
incorporation or organization, (b) has all requisite power and authority and all requisite
governmental licenses, authorizations, consents and approvals to (i) own or lease its assets and
carry on its business, and (ii) execute, deliver and perform its obligations under the Loan
Documents to which it is a party, and (c) is duly qualified and is licensed and, as applicable, in
good standing under the Laws of each jurisdiction where its ownership, lease or operation of
properties or the conduct of its business requires such qualification or license.

5.02 Authorization; No Contravention. The execution, delivery and performance by each Loan
Party of each Loan Document to which such Person is party, have been duly authorized by all
necessary corporate or other organizational action, and do not and will not (a) contravene the
terms of any of such Person’s Organization Documents; (b) conflict with or result in any breach or
contravention of, or the creation of any Lien under, or require any payment to be made under (i)
any Contractual Obligation to which such Person is a party or affecting such Person or the
properties of such Person or any of its Subsidiaries, or (ii) any order, injunction, writ or decree
of any Governmental Authority or any arbitral award to which such Person or its property is
subject; or (c) violate any Law.

5.03 Governmental Authorization; Other Consents. No approval, consent, exemption,
authorization or other action by, or notice to, or filing with, any Governmental Authority or any
other Person is necessary or required in connection with the execution, delivery or performance by,
or enforcement against, any Loan Party of this Agreement or any other Loan Document.

5.04 Binding Effect. This Agreement has been, and each other Loan Document, when delivered
hereunder, will have been, duly executed and delivered by each Loan Party that is party thereto.
This Agreement constitutes, and each other Loan Document when so delivered will constitute, a
legal, valid and binding obligation of such Loan Party, enforceable against each Loan Party that is
party thereto in accordance with its terms.

5.05 Financial Statements; No Material Adverse Effect.

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

(b) Since the date of the Financial Statements last delivered to Administrative Agent, there
has been no event or circumstance, either individually or in the aggregate, that has had or could
reasonably be expected to have a Material Adverse Effect.

5.06 Litigation. There are no actions, suits, proceedings, claims or disputes pending or, to
the knowledge of the Borrower after due and diligent investigation, threatened or contemplated, at
law, in equity, in arbitration or before any Governmental Authority, by or against the Guarantor,
Borrower or any of its BBP Subsidiaries or against any of their properties or revenues that (a)
purport to affect or pertain to this Agreement or any other Loan Document, or any of the
transactions contemplated hereby, or (b) except as specifically disclosed in Schedule 5.06,
either individually or in the aggregate, if determined adversely, could reasonably be expected to
have a Material Adverse Effect, and there has been no adverse change in the status, or financial
effect on any Loan Party thereof, of the matters described on Schedule 5.06.

5.07 No Default. No Loan Party is in default under or with respect to any Contractual
Obligation that could, either individually or in the aggregate, reasonably be expected to have a
Material Adverse Effect. No Default has occurred and is continuing or would result from the
consummation of the transactions contemplated by this Agreement or any other Loan Document.

5.08 Ownership of Property; Liens; Investments.

(a) Each Loan Party has good record and insurable title in fee simple to, or valid leasehold
interests in, each of the Borrowing Base Properties. Each of the Borrowing Base Properties is
either wholly owned in fee by a Loan Party or ground leased by a Loan Party pursuant to a long term
ground lease which has been designated as an Approved Ground Lease, in each case subject to no
Liens other than Permitted Liens. To the extent a Borrowing Base Property is leased by a Loan
Party pursuant to an Approved Ground Lease, and except as otherwise disclosed in writing by
Borrower to Administrative Agent, (i) such lease is in full force and effect and remains unmodified
except to the extent disclosed to the Administrative Agent in writing; (ii) no rights in favor of
the applicable Loan Party lessee have been waived, canceled or surrendered; (iii) no election or
option under such ground lease has been exercised by the Loan Party lessee; (iv) all rental and
other charges due and payable thereunder have been paid in full (except to the extent such payment
is not yet overdue); (v) no Loan Party is in default under or has received any notice of default
with respect to such Approved Ground Lease; (vi) to the knowledge of the Loan Parties, no lessor
under such a ground lease is in default thereunder; (vii) a true and correct copy of such ground
lease (together with any amendments, modifications, restatements or supplements thereof) has been
delivered to the Administrative Agent; and (viii) there exist no adverse claims as to the
applicable Loan Party’s title or right to possession of the leasehold premises referenced therein.

(b) Schedule 5.08(b) sets forth a complete and accurate list of all Liens on the
property or assets of each Loan Party as of the date hereof. The property of each Loan Party is
subject to no Liens, other than Liens set forth on Schedule 5.08(b), and as otherwise
permitted by Section 7.01.

5.09 Environmental Compliance.

(a) The Loan Parties conduct in the ordinary course of business a review of the effect of
existing Environmental Laws and claims alleging potential liability or responsibility for violation
of any Environmental Law on their respective businesses, operations and properties, and as a result
thereof the Loan Parties have reasonably concluded that, except as specifically disclosed in any
Environmental Report, such Environmental Laws and claims could not, individually or in the
aggregate, reasonably be expected to have a Material Adverse Effect.

(b) Except as otherwise set forth in any Environmental Report, none of the properties
currently or to the knowledge of the Loan Parties, formerly owned or operated by any Loan Party is
listed or, to the knowledge of the Loan Parties, proposed for listing on the NPL or on the CERCLIS
or any analogous state or local list or is adjacent to any such property, there are no and, to the
knowledge of the Borrowers, never have been any underground or above-ground storage tanks or any
surface impoundments, septic tanks, pits, sumps or lagoons in which Hazardous Materials are being
or have been transported, treated, stored or disposed on any property currently owned or operated
by any Loan Party or, to the best of the knowledge of the Loan Parties, on any property formerly
owned or operated by any Loan Party; or to the knowledge of the Loan Parties, there is no friable
asbestos or asbestos-containing material on any property currently owned or operated by any Loan
Party; and Hazardous Materials have not been transported, released, discharged or disposed of on
any property currently or formerly owned or operated by any Loan Party except in compliance with
all applicable Environmental Laws and as would otherwise not reasonably be expected to have a
Material Adverse Effect.

(c) Except as otherwise set forth on any Environmental Report, no Loan Party is undertaking,
and has not completed, either individually or together with other potentially responsible parties,
any investigation or assessment or remedial or response action relating to any actual or threatened
release, discharge or disposal of Hazardous Materials at any site, location or operation, either
voluntarily or pursuant to the order of any Governmental Authority or the requirements of any
Environmental Law; and all Hazardous Materials generated, used, treated, handled or stored at, or
transported to or from, any property currently or formerly owned or operated by any Loan Party have
been disposed of in a manner not reasonably expected to result in material liability to any Loan
Party.

(d) Except as otherwise set forth on any Environmental Report, each of the Borrowing Base
Properties and all operations at such Borrowing Base Properties are in compliance with all
applicable Environmental Laws in all material respects, there is no material violation of any
Environmental Law with respect to such Borrowing Base Properties or the businesses located thereon,
and there are no conditions relating to such Borrowing Base Properties or the businesses that could
reasonably be expected to give rise to material liability under any applicable Environmental Law.

(e) Except as otherwise set forth on any Environmental Report, none of the Borrowing Base
Properties contains, or has previously contained, any Hazardous Materials at, on or under such
Borrowing Base Properties in amounts or concentrations that constitute or constituted a material
violation of, or could reasonably be expected to give rise to material liability under,
Environmental Laws.

(f) Except as otherwise set forth on any Environmental Report, no Loan Party has received any
written or verbal notice of, or inquiry from any Governmental Authority regarding, any violation,
alleged violation, non-compliance, liability or potential liability regarding environmental matters
or compliance with Environmental Laws with regard to any of its Borrowing Base Properties or the
businesses located thereon, nor does any Responsible Officer of any Loan Party have knowledge or
reason to believe that any such notice will be received or is being threatened.

(g) No judicial proceeding or governmental or administrative action is pending or, to the best
knowledge of the Responsible Officers of the Loan Parties, threatened, under any Environmental Law
reasonably expected to give rise to a material liability under Environmental Laws to which any
Borrower is or will be named as a party, nor are there any consent decrees or other decrees,
consent orders, administrative orders or other orders, or other administrative or judicial
requirements outstanding under any Environmental Law with respect to the Loan Parties, the
Borrowing Base Properties or, to the knowledge of the Loan Parties, the businesses located thereon
reasonably expected to give rise to a material liability under Environmental Laws.

5.10 Insurance. The properties of the Loan Parties are insured with financially sound and
reputable insurance companies not Affiliates of the Borrower, in such amounts, with such
deductibles and covering such risks as required by the Administrative Agent. All insurance related
to the Borrowing Base Properties names the Administrative Agent (for the benefit of the Secured
Parties) as additional insured (in the case of liability insurance) or loss payee (in the case of
hazard insurance).

5.11 Taxes. The Loan Parties have filed all Federal, state and other material tax returns and
reports required to be filed, and have paid all Federal, state and other material taxes,
assessments, fees and other governmental charges levied or imposed upon them or their properties,
income or assets otherwise due and payable, except those which are being contested in good faith by
appropriate proceedings diligently conducted and for which adequate reserves have been provided in
accordance with GAAP. There is no proposed tax assessment against any Loan Party that would, if
made, have a Material Adverse Effect. No Loan Party is party to any tax sharing agreement.

5.12 ERISA Compliance.

(a) Each Plan is in compliance in all material respects with the applicable provisions of
ERISA, the Code and other Federal or state laws. Each Pension Plan that is intended to be a
qualified plan under Section 401(a) of the Code has received a favorable determination letter from
the Internal Revenue Service to the effect that the form of such Plan is qualified under Section
401(a) of the Code and the trust related thereto has been determined by the Internal Revenue
Service to be exempt from federal income tax under Section 501(a) of the Code, or an application
for such a letter is currently being processed by the Internal Revenue Service. To the best
knowledge of the Borrower, nothing has occurred that would prevent or cause the loss of such
tax-qualified status.

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

(c) (i) No ERISA Event has occurred, and neither the Borrower nor any ERISA Affiliate is aware
of any fact, event or circumstance that could reasonably be expected to constitute or result in an
ERISA Event with respect to any Pension Plan; (ii) the Borrower and each ERISA Affiliate has met
all applicable requirements under the Pension Funding Rules in respect of each Pension Plan, and no
waiver of the minimum funding standards under the Pension Funding Rules has been applied for or
obtained; (iii) as of the most recent valuation date for any Pension Plan, the funding target
attainment percentage (as defined in Section 430(d)(2) of the Code) is sixty percent (60%) or
higher and neither the Borrower nor any ERISA Affiliate knows of any facts or circumstances that
could reasonably be expected to cause the funding target attainment percentage for any such plan to
drop below sixty percent (60%) as of the most recent valuation date; (iv) neither the Borrower nor
any ERISA Affiliate has incurred any liability to the PBGC other than for the payment of premiums,
and there are no premium payments which have become due that are unpaid; (v) neither the Borrower
nor any ERISA Affiliate has engaged in a transaction that could be subject to Section 4069 or
Section 4212(c) of ERISA; and (vi) no Pension Plan has been terminated by the plan administrator
thereof nor by the PBGC, and no event or circumstance has occurred or exists that could reasonably
be expected to cause the PBGC to institute proceedings under Title IV of ERISA to terminate any
Pension Plan.

(d) Neither the Borrower nor any ERISA Affiliate maintains or contributes to, or has any
unsatisfied obligation to contribute to, or liability under, any active or terminated Pension Plan.

5.13 Subsidiaries; Equity Interests. The corporate capital and ownership structure of the
Guarantor, the Borrower and the other Loan Parties (as of the most recent update of such schedule
in accordance with Section 6.02 hereof) is as described in Schedule 5.13(a). Set
forth on Schedule 5.13(b) is a complete and accurate list (as of the most recent update of
such schedule in accordance with Section 6.02 hereof) with respect to each of the BBP
Subsidiaries of the Borrower of (i) jurisdiction of organization, (ii) number of ownership
interests (if expressed in units or shares) of each class of Equity Interests outstanding,
(iii) number and percentage of outstanding ownership interests (if expressed in units or shares) of
each class owned (directly or indirectly) by the Guarantor, the Borrower and their BBP
Subsidiaries, (iv) all outstanding options, warrants, rights of conversion or purchase and all
other similar rights with respect thereto and (v) an identification of which Borrowing Base
Properties are owned by each such BBP Subsidiary. The outstanding Equity Interests of each
Borrower is, to the extent applicable depending on the organizational nature of such Person,
validly issued, fully paid and non-assessable and is owned by the Guarantor, the Borrower or a
Subsidiary thereof (as applicable), directly or indirectly, in the manner set forth on
Schedule 5.13(b), free and clear of all Liens (other than Permitted Liens or, in the case
of the Equity Interests of the Loan Parties, statutory Liens or Liens arising under or contemplated
in connection with the Loan Documents). Other than as set forth in Schedule 5.13(b), no
BBP Subsidiary has outstanding any securities convertible into or exchangeable for its Equity
Interests nor does any such Person have outstanding any rights to subscribe for or to purchase or
any options for the purchase of, or any agreements providing for the issuance (contingent or
otherwise) of, or any calls, commitments or claims of any character relating to its Equity
Interests. The copy of the charter of each Loan Party and each amendment thereto provided pursuant
to Section 4.01(a)(v) is a true and correct copy of each such document, each of which is
valid and in full force and effect.

5.14 Margin Regulations; Investment Company Act.

(a) The Borrower is not engaged and will not engage, principally or as one of its important
activities, in the business of purchasing or carrying margin stock (within the meaning of
Regulation U issued by the FRB), or extending credit for the purpose of purchasing or carrying
margin stock.

(b) None of the Borrower, any Person Controlling the Borrower, or any BBP Subsidiary is or is
required to be registered as an “investment company” under the Investment Company Act of 1940.

5.15 Disclosure. The Borrower has disclosed to the Administrative Agent and the Lenders all
agreements, instruments and corporate or other restrictions to which it, any other Loan Party, or
any of their BBP Subsidiaries is subject, and all other matters known to it, that, individually or
in the aggregate, could reasonably be expected to result in a Material Adverse Effect. No report,
financial statement, certificate or other information furnished (whether in writing or orally) by
or on behalf of any Loan Party to the Administrative Agent or any Lender in connection with the
transactions contemplated hereby and the negotiation of this Agreement or delivered hereunder or
under any other Loan Document (in each case, as modified or supplemented by other information so
furnished) contains any material misstatement of fact or omits to state any material fact necessary
to make the statements therein, in the light of the circumstances under which they were made, not
misleading; provided that, with respect to projected financial information, the Borrower represents
only that such information was prepared in good faith based upon assumptions believed to be
reasonable at the time.

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

5.17 Taxpayer Identification Number. Each Borrower’s true and correct U.S. taxpayer
identification number is set forth on Schedule 10.02.

5.18 Intellectual Property; Licenses, Etc. Except as hereinafter described, the Borrower
owns, or possesses the right to use, all of the trademarks, service marks, trade names, copyrights,
patents, patent rights, franchises, licenses and other intellectual property rights (collectively,
"IP Rights”) that are reasonably necessary for the operation of their respective
businesses, without conflict with the rights of any other Person. “Grubb & Ellis” and related
marks are trademarks of Grubb & Ellis Company, which has licensed them to Grubb & Ellis Healthcare
REIT II Advisor, LLC (the “Advisor”). The Advisor has entered into an advisory agreement
(the “Advisory Agreement”) with the Guarantor, which agreement permits the use by the
Borrower and the Guarantor of the “Grubb & Ellis” name and associated marks. If the Advisory
Agreement is terminated or the Advisor otherwise ceases to be the REIT advisor to the Guarantor,
the Borrower and the Guarantor shall have no right to use the “Grubb & Ellis” name and associated
marks, and the Borrower and the Guarantor shall execute any all documentation reasonably requested
by the Administrative Agent in connection with and as a result of the termination of such Advisory
Agreement. To the best knowledge of the Borrower, no slogan or other advertising device, product,
process, method, substance, part or other material now employed, or now contemplated to be
employed, by the Borrower or any BBP Subsidiary infringes upon any rights held by any other Person.
No claim or litigation regarding any of the foregoing is pending or, to the best knowledge of the
Borrower, threatened, which, either individually or in the aggregate, could reasonably be expected
to have a Material Adverse Effect.

5.19 Solvency. Each Loan Party is, individually and together with its BBP Subsidiaries on a
consolidated basis, Solvent.

5.20 Casualty, Etc. None of the Borrowing Base Properties have been affected by any fire,
explosion, accident, strike, lockout or other labor dispute, drought, storm, hail, earthquake,
embargo, act of God or of the public enemy or other casualty (whether or not covered by insurance)
that has not previously been repaired or that, either individually or in the aggregate, could
reasonably be expected to have a Material Adverse Effect.

5.21 Labor Matters. There are no collective bargaining agreements or Multiemployer Plans
covering the employees of any Loan Party or any of their BBP Subsidiaries as of the Closing Date
and no Loan Party or any of their BBP Subsidiaries has suffered any strikes, walkouts, work
stoppages or other material labor difficulty within the last year (or date of organization if
less).

5.22 REIT Status. The Guarantor intends to elect and qualify for REIT status for the taxable
year ending December 31, 2010. The Guarantor is deemed to own its proportionate share of the
assets and liabilities of the Borrower under Section 856(m) of the Code, and each of its BBP
Subsidiaries that is a corporation is a QRS. As of the Closing Date, neither the Guarantor nor the
Borrower has any BBP Subsidiaries that are taxable REIT subsidiaries or corporations, as such term
is used in the Code.

5.23 Collateral Documents. The provisions of the Collateral Documents are effective to create
in favor of the Administrative Agent for the benefit of the Secured Parties a legal, valid and
enforceable first priority and perfected Lien (subject to Liens permitted by Section 7.01)
on all right, title and interest of the respective Loan Parties in the Collateral described
therein. Except for filings completed prior to the Closing Date and as contemplated hereby and by
the Collateral Documents, no filing or other action will be necessary to perfect or protect such
Liens.

5.24 Borrowing Base Properties. Schedule 5.24 (as adjusted from time to time in
accordance with the terms hereof) sets forth each of the Borrowing Base Properties as of the date
of the last adjustment thereof pursuant to the terms of Section 1.07. Each Real Property
listed on Schedule 5.24 fully qualifies as a Borrowing Base Property.

ARTICLE VI.

AFFIRMATIVE COVENANTS

So long as any Lender shall have any Commitment hereunder, or any Loan or other Obligation
hereunder shall not be Fully Satisfied, the Borrower shall, and shall (except in the case of the
covenants set forth in Sections 6.01, 6.02, and 6.03), cause any other
applicable Loan Party to:

6.01 Financial Statements. Deliver to the Administrative Agent and each Lender, in form and
detail satisfactory to the Administrative Agent and the Required Lenders:

(a) as soon as available, but in any event within ninety (90) days after the end of each
calendar year (commencing with the calendar year ended December 31, 2010), (i) the audited
Financial Statements of the Guarantor and its Subsidiaries as at the end of such calendar year, all
in reasonable detail and prepared in accordance with GAAP, which Financial Statements shall be
prepared in accordance with generally accepted accounting standards and shall not be subject to any
“going concern” or like qualification or exception or any qualification or exception as to the
scope of such audit, and such Financial Statements to be certified by the chief executive officer,
chief financial officer, treasurer or controller of the Guarantor to the effect that such Financial
Statements are fairly stated in all material respects when considered in relation to the
consolidated Financial Statements of the Guarantor and its Subsidiaries, (ii) a statement of cash
flow projections for the upcoming calendar year for each Borrowing Base Property to be certified by
the chief executive officer, chief financial officer, treasurer or controller of the Guarantor, and
(iii) an income and expense statement, statement of cash flows and balance sheet for the Borrower
and any BBP Subsidiary (with respect to the statements provided in clauses (ii) and (iii)
shall be unaudited and internally certified);

(b) as soon as available, but in any event within sixty (60) days after the end of each
calendar quarter of each calendar year (commencing with the calendar quarter ended June 30, 2010),
(i) the unaudited Financial Statements of the Guarantor and its Subsidiaries as at the end of such
calendar quarter, all in reasonable detail and prepared in accordance with GAAP, and such Financial
Statements to be certified by the chief executive officer, chief financial officer, treasurer or
controller of the Guarantor to the effect that such Financial Statements are fairly stated in all
material respects when considered in relation to the consolidated Financial Statements of the
Guarantor and its Subsidiaries, and (ii) an income and expense statement, statement of cash flows
and balance sheet for the Borrower and any BBP Subsidiary (with respect to the statements provided
in this clause (i) and (ii) shall be unaudited and internally certified);

(c) within sixty (60) days after the end of each calendar quarter, a Borrowing Base Compliance
Certificate;

(d) within thirty (30) days after the end of each calendar quarter, a current rent roll
certificate for each Borrowing Base Property, including a current status report of tenants’ names,
occupied tenant space, lease terms, rents, vacant space and proposed rents; and

(e) any other financial statements required to be delivered pursuant to Section 16 and Section
20 of the Guaranty.

6.02 Certificates; Other Information. Deliver to the Administrative Agent and each Lender, in
form and detail satisfactory to the Administrative Agent and the Required Lenders:

(a) concurrently with the delivery of the financial statements referred to in
Sections 6.01(a) and (b), a duly completed Borrowing Base Compliance Certificate
signed by the chief executive officer, chief financial officer, treasurer or controller of the
Guarantor (which delivery may, unless the Administrative Agent, or a Lender requests executed
originals, be by electronic communication including fax or email and shall be deemed to be an
original authentic counterpart thereof for all purposes);

(b) promptly after any request by the Administrative Agent or any Lender, copies of any
detailed management letters submitted to the board of directors (or the audit committee of the
board of directors) of any Loan Party by independent accountants in connection with the accounts or
books of any Loan Party or any BBP Subsidiary, or any audit of any of them;

(c) promptly after the same are available, copies of each annual report, proxy or financial
statement or other report or communication sent to the stockholders of any Loan Party, and copies,
if applicable, of all annual, regular, periodic and special reports and registration statements
which any Loan Party may file or be required to file with the SEC under Section 13 or 15(d) of the
Securities Exchange Act of 1934, and not otherwise required to be delivered to the Administrative
Agent pursuant hereto;

(d) [intentionally omitted];

(e) promptly, and in any event within five (5) Business Days after receipt thereof by any Loan
Party, copies of any correspondence received from the SEC (or comparable agency in any applicable
non-U.S. jurisdiction) concerning any investigation or possible investigation or other inquiry by
such agency regarding financial or other operational results of any Loan Party;

(f) not later than five (5) Business Days after receipt thereof by any Loan Party, copies of
all notices, requests and other documents (including amendments, waivers and other modifications)
so received under or pursuant to any instrument, indenture, loan or credit or similar agreement
regarding or related to any breach or default by any party thereto or any other event that could
have a Material Adverse Effect and, from time to time upon the reasonable request by the
Administrative Agent, such information and reports regarding such instruments, indentures and loan
and credit and similar agreements as the Administrative Agent may request;

(g) promptly after the assertion or occurrence thereof, notice of any action or proceeding
against or of any noncompliance by any Loan Party with respect to a Borrowing Base Property with
any Environmental Law or Environmental Permit that could (i) reasonably be expected to have a
Material Adverse Effect, or (ii) cause any property described in the Mortgages to be subject to any
restrictions on ownership, occupancy, use or transferability under any Environmental Law;

(h) concurrently with the delivery of the financial statements referred to in
Sections 6.01(a) and (b), an update to Schedules 5.06, or 5.13(a)
or (b) to the extent the information provided by any such schedules has changed since the
most recent update thereto; provided that the Borrower shall, promptly upon the Administrative
Agent’s written request therefor, provide any information or materials requested by the
Administrative Agent to confirm or evidence the matters reflected in such updated schedules; and

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

Documents required to be delivered pursuant to Section 6.01(a) or (b) (to the
extent any such documents are included in materials otherwise filed with the SEC) may be delivered
electronically and if so delivered, shall be deemed to have been delivered on the date (i) on which
the Borrower or the Guarantor posts such documents, or provides a link thereto on the Borrower’s or
the Guarantor’s website on the Internet at the website address listed on Schedule 10.02; or
(ii) on which such documents are posted on the Borrower’s behalf on an Internet or intranet
website, if any, to which each Lender and the Administrative Agent have access (whether a
commercial, third-party website or whether sponsored by the Administrative Agent); provided that:
(A) the Borrower shall deliver paper copies of such documents to the Administrative Agent or any
Lender upon its request to the Borrower to deliver such paper copies until a written request to
cease delivering paper copies is given by the Administrative Agent or such Lender, and (B) the
Borrower shall notify the Administrative Agent and each Lender (by telecopier or electronic mail)
of the posting of any Form 10K or Form 10Q and provide to the Administrative Agent by electronic
mail electronic versions (i.e., soft copies) of such documents. The Administrative Agent shall
have no obligation to request the delivery of or to maintain paper copies of the documents referred
to above, and in any event shall have no responsibility to monitor compliance by the Borrower with
any such request by a Lender for delivery, and each Lender shall be solely responsible for
requesting delivery to it or maintaining its copies of such documents.

The Borrower hereby acknowledges that (a) the Administrative Agent will make available to the
Lenders materials and/or information provided by or on behalf of the Borrower hereunder
(collectively, “Borrower Materials”) by posting the Borrower Materials on IntraLinks or
another similar electronic system (the “Platform”), and (b) certain of the Lenders (each, a
"Public Lender”) may have personnel who do not wish to receive material non-public
information with respect to the Borrower or its Affiliates, or the respective securities of any of
the foregoing, and who may be engaged in investment and other market-related activities with
respect to such Persons’ securities. The Borrower hereby agrees that (w) all Borrower Materials
that are to be made available to Public Lenders shall be clearly and conspicuously marked “PUBLIC”
which, at a minimum, shall mean that the word “PUBLIC” shall appear prominently on the first page
thereof; (x) by marking Borrower Materials “PUBLIC”, the Borrower shall be deemed to have
authorized the Administrative Agent and the Lenders to treat such Borrower Materials as not
containing any material non-public information with respect to the Borrower or its securities for
purposes of United States Federal and state securities laws (provided, however, that to the extent
such Borrower Materials constitute Information, they shall be treated as set forth in
Section 10.07); (y) all Borrower Materials marked “PUBLIC” are permitted to be made
available through a portion of the Platform designated “Public Side Information”; and (z) the
Administrative Agent shall be entitled to treat any Borrower Materials that are not marked “PUBLIC”
as being suitable only for posting on a portion of the Platform that is not designated “Public Side
Information”. Notwithstanding the foregoing, the Borrower shall be under no obligation to mark any
Borrower Materials “PUBLIC”.

6.03 Notices. Promptly notify the Administrative Agent and each Lender:

(a) of the occurrence of any Default;

(b) of any matter that has resulted or could reasonably be expected to result in a Material
Adverse Effect, including (i) breach or non-performance of, or any default under, a Contractual
Obligation of any Loan Party; (ii) any dispute, litigation, investigation, proceeding or suspension
between the Borrower or any Subsidiary and any Governmental Authority; or (iii) the commencement
of, or any material development in, any litigation or proceeding affecting any Loan Party,
including pursuant to any applicable Environmental Laws;

(c) of the occurrence of any ERISA Event;

(d) of any material change in accounting policies or financial reporting practices by any Loan
Party, including any determination by the Borrower referred to in Section 2.10(b);

(e) of any event or circumstance that results in a Real Property previously qualifying as a
Borrowing Base Property ceasing to qualify as such (provided, that such notification shall be
accompanied by an updated Borrowing Base Compliance Certificate each with calculations showing the
effect of such removal on the covenants contained herein and on any Borrowing Base-related
restrictions on the Outstanding Amounts hereunder); and

(f) upon the written request of the Administrative Agent following the occurrence of any event
or the discovery of any condition which the Administrative Agent or the Required Lenders believe
has caused (or could be reasonably expected to cause) the representations and warranties set forth
in Section 5.09, insofar as they relate to the Borrowing Base Properties, to be untrue in
any material respect, the Borrower will furnish or cause to be furnished to the Administrative
Agent, at the Borrower’s expense, a report of an environmental assessment of reasonable scope, form
and depth, (including, where appropriate, invasive soil or groundwater sampling) by a consultant
acceptable to the Administrative Agent as to the nature and extent of the presence of any Hazardous
Materials on any Borrowing Base Properties and as to the compliance by any Borrower with
Environmental Laws at such Borrowing Base Properties. If the Borrower fails to deliver such an
environmental report within sixty (60) days after receipt of such written request, then the
Administrative Agent may arrange for same, and the Loan Parties hereby grant to the Administrative
Agent and its representatives access to the Borrowing Base Properties to reasonably undertake such
an assessment (including, where appropriate, invasive soil or groundwater sampling). The
reasonable cost of any assessment arranged for by the Administrative Agent pursuant to this
provision will be payable by the Borrower on demand and added to the obligations secured by the
Collateral Documents.

Each notice pursuant to this Section 6.03 shall be accompanied by a statement of a
Responsible Officer of the Guarantor on behalf of the Borrower setting forth details of the
occurrence referred to therein and stating what action the Borrower has taken and proposes to take
with respect thereto. Each notice pursuant to Section 6.03(a) shall describe with
particularity any and all provisions of this Agreement and any other Loan Document that have been
breached.

6.04 Payment of Obligations. Pay and discharge as the same shall become due and payable, all
its obligations and liabilities of the Borrower, including (a) all tax liabilities, assessments and
governmental charges or levies upon it or its properties or assets, unless the same are being
contested in good faith by appropriate proceedings diligently conducted and adequate reserves in
accordance with GAAP are being maintained by the Borrower; (b) all lawful claims against any BBP
Subsidiary which, if unpaid, would by law become a Lien upon its property; and (c) all Indebtedness
of the G&E Healthcare Borrower in excess of the Threshold Amount and all Indebtedness of any BBP
Subsidiary in excess of $1,000,000.00, as and when due and payable, but subject to any
subordination provisions contained in any instrument or agreement evidencing such Indebtedness.

6.05 Preservation of Existence, Etc. (a) Preserve, renew and maintain in full force and
effect its legal existence and good standing under the Laws of the jurisdiction of its organization
except in a transaction permitted by Sections 7.04 or 7.05; (b) take all reasonable
action to maintain all rights, privileges, permits, licenses and franchises necessary or desirable
in the normal conduct of its business, except to the extent that failure to do so could not
reasonably be expected to have a Material Adverse Effect; and (c) preserve or renew all of its
registered patents, trademarks, trade names and service marks, the non-preservation of which could
reasonably be expected to have a Material Adverse Effect.

6.06 Maintenance of Properties. (a) Maintain, preserve and protect all of the Borrower’s
material properties and equipment necessary in the operation of its business in good working order
and condition, ordinary wear and tear excepted; (b) make all necessary repairs thereto and renewals
and replacements thereof except where the failure to do so could not reasonably be expected to have
a Material Adverse Effect; and (c) use the standard of care typical in the industry in the
operation and maintenance of its facilities.

6.07 Maintenance of Insurance. Maintain with financially sound and reputable insurance
companies not Affiliates of the Borrower, insurance with respect to its properties and business
against loss or damage of the kinds customarily insured against by Persons engaged in the same or
similar business, of such types and in such amounts as are customarily carried under similar
circumstances by such other Persons.

6.08 Compliance with Laws and Contractual Obligations. Comply in all material respects with
the requirements of all Laws, all Contractual Obligations and all orders, writs, injunctions and
decrees applicable to it or to its business or property, except in such instances in which (a) such
requirement of Law, Contractual Obligation or order, writ, injunction or decree is being contested
in good faith by appropriate proceedings diligently conducted; or (b) the failure to comply
therewith could not reasonably be expected to have a Material Adverse Effect.

6.09 Books and Records. Maintain proper books of record and account, in which full, true and
correct entries in conformity with GAAP consistently applied shall be made of all financial
transactions and matters involving the assets and business of the G&E Healthcare Borrower or such
BBP Subsidiary, as the case may be.

6.10 Inspection Rights. Without in anyway disturbing the right of quiet enjoyment of a tenant
under any Lease, permit representatives and independent contractors of the Administrative Agent and
each Lender to visit and inspect any Borrowing Base Property, to examine its corporate, financial
and operating records, and make copies thereof or abstracts therefrom, and to discuss its affairs,
finances and accounts with its directors, officers and independent public accountants, all at the
expense of the Borrower and at such reasonable times during normal business hours and as often as
may be reasonably desired, upon reasonable advance notice to the Borrower; provided, however, that
when an Event of Default exists the Administrative Agent or any Lender (or any of their respective
representatives or independent contractors) may do any of the foregoing at the expense of the
Borrower at any time during normal business hours and without advance notice.

6.11 Use of Proceeds. Use the proceeds of the Credit Extensions (a) for working capital,
capital expenditures and other general corporate purposes (including, without limitation, property
acquisitions) not in contravention of any Law or of any Loan Document, (b) for the purposes
specified in 815 ILCS 205/4(1)(l) (or any substitute, amended or replacement statute). In
addition, (i) the Loan constitutes a business loan which comes within the purview of said 815 ILCS
205/4(1)(l), and (ii) that the Loan is an exempted transaction under the Truth In Lending Act, 15
U.S.C. §1601 et seq.

6.12 Additional Borrowers. In connection with potentially adding a Borrowing Base Property to
the Borrowing Base, notify the Administrative Agent at the time that any Person is to become a new
BBP Subsidiary, and promptly thereafter (and in any event within thirty (30) days), (a) cause such
Person to (i) become a BBP Subsidiary and a Borrower by executing and delivering to the
Administrative Agent a counterpart of this Agreement, a Joinder Agreement or such other document as
the Administrative Agent shall deem appropriate for such purpose, and (ii) deliver to the
Administrative Agent documents of the types referred to in clauses (ii), (iii), (iv), (v) and
(vi) of Section 4.01(a), together with favorable opinions of counsel to such new BBP
Subsidiary (which shall cover, among other things, the legality, validity, binding effect and
enforceability of the documentation referred to in this clause (a)), and (b) cause the
Borrower to execute and deliver such Joinder Agreement or other document (including any new pledge
and security agreement or supplement to the Pledge Agreement, executed and delivered on or in
connection with the Closing Date) for the purpose of causing the Equity Interests in such new BBP
Subsidiary to be subject to a perfected Lien in favor of the Administrative Agent in accordance
with Section 6.13(a)), together with favorable opinions of counsel to the Borrower (which
shall cover, among other things, the legality, validity, binding effect and enforceability of the
documentation referred to in this clause (b)), all such documentation referred to herein to
be in form, content and scope reasonably satisfactory to the Administrative Agent.

6.13 Pledged Equity Interests; Real Property and Other Collateral.

(a) Equity Interests. To the extent a Person is to become a BBP Subsidiary and a
Borrower as noted in Section 6.12 above, cause one hundred percent (100%) of the issued and
outstanding Equity Interests owned of record by the G&E Healthcare Borrower with respect to each
new BBP Subsidiary of the Borrower to be subject at all times to a perfected Lien in favor of the
Administrative Agent pursuant to the terms and conditions of the Collateral Documents or such other
security documents as the Administrative Agent shall reasonably request.

(b) Borrowing Base Properties; Mortgages. Cause (i) all Real Property interests
related to the Borrowing Base Properties, and (ii) all personal property (including, without
limitation, any and all construction drawings, construction plans and architectural renderings
relating thereto and any leases, rents, management contracts, franchise agreements and leasing
agreements related thereto (whether or not any such property is included in the Real Property
interests covered under clause (i)), owned by the Loan Parties and relating to any
Borrowing Base Properties (other than vehicles subject to certificates of title) to, in each case,
be subject at all times to first priority, perfected and, in the case of the Real Property interest
in each Borrowing Base Property (whether leased or owned), title insured Liens in favor of the
Administrative Agent to secure the Obligations pursuant to the terms and conditions of the
Mortgages and other Collateral Documents, including, with respect to any such Borrowing Base
Property acquired subsequent to the Closing Date, such other additional security documents as the
Administrative Agent shall request (including additional Mortgages or other Collateral Documents);

(c) Other Assets. Without limiting the foregoing, (i) cause all of the Collateral
(including, without limitation, each Borrowing Base Property) to be subject at all times to first
priority (except in the case of Property subject to a Permitted Lien), perfected Liens in favor of
the Administrative Agent to secure the Obligations pursuant to the terms and conditions hereof and
of the Collateral Documents, and (ii) deliver such other documentation as the Administrative Agent
may reasonably request in connection with the foregoing, including, without limitation, appropriate
UCC-1 financing statements, certified resolutions and other organizational and authorizing
documents of such Person, favorable opinions of counsel to such Person (which shall cover, among
other things, the legality, validity, binding effect and enforceability of the documentation
referred to above and the perfection of the Administrative Agent’s Liens thereunder) and other
items of the types required to be delivered hereunder and pursuant to the Collateral Documents, all
in form, content and scope reasonably satisfactory to the Administrative Agent.

(d) Indemnity; Costs and Expenses. Indemnify and/or reimburse (as applicable) the
Administrative Agent for any and all costs, expenses, losses, claims, fees or other amounts paid or
incurred by the Administrative Agent to the extent paid or incurred in connection with the filing
or recording of any documents, agreement or instruments related to the Collateral, the protection
of any of the Collateral, its rights and interests therein or any Loan Party’s underlying rights
and interests therein or the enforcement of any of its other rights with respect to the Collateral;
provided, that the reimbursement and indemnity obligations set forth in this clause (d)
shall be in addition to and in furtherance of all other reimbursement or indemnity obligations of
the Loan Parties (including the Borrower) referenced herein or in any other Loan Document.

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

	 	6.15	 	Compliance with Terms of Approved Ground Leases; Material Easement Agreements.

(a) The Borrower shall cause each BBP Subsidiary to make all payments and otherwise perform in
all material respects all obligations in respect of all Approved Ground Leases related to the
Borrowing Base Properties and keep such Approved Ground Leases in full force and effect and not
allow such Approved Ground Leases to lapse or be terminated or any rights to renew such Approved
Ground Leases to be forfeited or cancelled, notify the Administrative Agent of any default by any
party with respect to such Approved Ground Leases and cooperate with the Administrative Agent in
all respects to cure any such default, except, in any case, where the failure to do so, either
individually or in the aggregate, could not be reasonably likely to have a Material Adverse Effect.

(b) Without limiting the foregoing, with respect to each Approved Ground Lease or material
easement agreements in favor of such Loan Party and related to any Borrowing Base Property (as
applicable):

(i) pay when due the rent and other amounts due and payable thereunder (subject to
applicable cure or grace periods);

(ii) timely perform and observe all of the material terms, covenants and conditions
required to be performed and observed by it as tenant thereunder (subject to applicable cure
or grace periods);

(iii) do all things reasonably necessary to preserve and keep unimpaired such ground
lease or easement agreement and its rights thereunder;

(iv) not waive, excuse or discharge any of the material obligations of the lessor or
other obligor thereunder;

(v) diligently and continuously seek the enforcement of the material obligations of the
lessor or other obligor thereunder;

(vi) not do, permit or suffer (i) any act, event or omission which would be likely to
result in a default or permit the applicable lessor or other obligor to terminate or
exercise any other remedy with respect to the applicable Approved Ground Lease or easement,
or (ii) any act, event or omission which, with the giving of notice or the passage of time,
or both, would constitute a default or permit the lessor or such other obligor to exercise
any other remedy under the applicable agreement;

(vii) cancel, terminate, surrender, materially modify or materially amend any of the
provisions of any such Approved Ground Lease or easement or agree to any termination,
material amendment, material modification or surrender thereof without the prior written
consent of the Administrative Agent, such consent to not be unreasonably withheld, delayed
or conditioned;

(viii) deliver to the Administrative Agent all default and other material notices
received by it or sent by it under the applicable Approved Ground Lease or easement
agreement;

(ix) at Administrative Agent’s request, provide to Administrative Agent any information
or materials relating to such ground lease or easement agreement and evidencing such Loan
Party’s due observance and performance of its obligations thereunder to the extent that such
Loan Party has such information or materials in its possession;

(x) not permit or consent to the subordination of such ground lease or easement
agreement to any mortgage or other leasehold interest of the premises related thereto;

(xi) execute and deliver (to the extent permitted to do so under such Approved Ground
Lease or easement agreement), upon the request of the Administrative Agent, any documents,
instruments or agreements as may be required to permit the Administrative Agent to cure any
default under such Approved Ground Lease or easement agreement;

(xii) provide to the Administrative Agent written notice of its intention to exercise
any option or renewal or extension rights with respect to such Approved Ground Lease or
easement at least thirty (30) days prior to the expiration of the time to exercise such
right or option and, upon the direction of the Administrative Agent, duly exercise any
renewal or extension option with respect to any such ground lease or easement (provided,
that each Loan Party hereby appoints the Administrative Agent its attorney-in-fact, coupled
with an interest, to execute and deliver, for and in the name of such Person, all
instruments, documents or agreements necessary to extend or renew any such Approved Ground
Lease or easement;

(xiii) not treat, in connection with the bankruptcy or other insolvency proceedings of
any ground lessor or other obligor, any ground lease or easement agreement as terminated,
cancelled or surrendered pursuant to the Bankruptcy Code without the Administrative Agent’s
prior written consent;

(xiv) in connection with the bankruptcy or other insolvency proceedings of any ground
lessor or other obligor, ratify the legality, binding effect and enforceability of the
applicable Approved Ground Lease or easement agreement within the applicable time period
therefore in such proceedings, notwithstanding any rejection by such ground lessor or
obligor or trustee, custodian or receiver related thereto;

(xv) provide to the Administrative Agent not less than thirty (30) days prior written
notice of the date on which the applicable Loan Party shall apply to any court or other
governmental authority for authority or permission to reject the applicable Approved Ground
Lease or easement agreement in the event that there shall be filed by or against any
Borrower any petition, action or proceeding under the Bankruptcy Code or any similar federal
or state law; provided, that the Administrative Agent shall have the right, but not the
obligation, to serve upon the applicable Loan Party within such thirty (30) day period a
notice stating that (A) the Administrative Agent demands that such Loan Party assume and the
assign the relevant Approved Ground Lease or easement agreement to the Administrative Agent
subject to an in accordance with the Bankruptcy Code, and (B) the Administrative Agent
covenants to cure or provide reasonably adequate assurance thereof with respect to all
defaults susceptible of being cured by the Administrative Agent and of future performance
under the applicable Approved Ground Lease or easement agreement; provided, further, that if
the Administrative Agent serves such notice upon the applicable Loan Party, such Loan Party
shall not seek to reject the applicable agreement and shall promptly comply with such
demand;

(xvi) permit the Administrative Agent (at its option), during the continuance of any
Event of Default, to (i) perform and comply with all obligations under the applicable
Approved Ground Lease or easement agreement; (ii) do and take such action as the
Administrative Agent deems necessary or desirable to prevent or cure any default by such
Borrower under such Approved Ground Lease or easement agreement; and (iii) enter in and upon
the applicable premises related to such Approved Ground Lease or easement agreement to the
extent and as often as the Administrative Agent deems necessary or desirable in order to
prevent or cure any default under the applicable Approved Ground Lease or easement
agreement;

(xvii) upon the occurrence and during the continuance of an Event of Default, in the
event of any arbitration, court or other adjudicative proceedings under or with respect to
any such Approved Ground Lease or easement agreement, permit the Administrative Agent (at
its option) to exercise all right, title and interest of the applicable Loan Party in
connection with such proceedings; provided, that (i) each Loan Party hereby irrevocably
appoint the Administrative Agent as their attorney-in-fact (which appointment shall be
deemed coupled with an interest) to exercise such right, interest and title, and (ii) the
Borrower shall bear all costs, fees and expenses related to such proceedings; provided,
further, that each Loan Party hereby further agrees that the Administrative Agent shall have
the right, but not the obligation, to proceed in respect of any claim, suit, action or
proceeding relating to the rejection of any of the Approved Ground Leases or easement
agreements referenced above by the relevant ground lessor or obligor as a result of
bankruptcy or similar proceedings (including, without limitation, the right to file and
prosecute all proofs of claims, complaints, notices and other documents in any such
bankruptcy case or similar proceeding); and

(xviii) deliver to the Administrative Agent (or, subject to the requirements of the
subject Approved Ground Lease, cause the applicable lessor or other obligor to deliver to
the Administrative Agent) an estoppel certificate in relation to such Approved Ground Lease
or easement agreement in form and substance acceptable to the Administrative Agent, in its
discretion, and, in any case, setting forth (A) the name of lessee and lessor under the
Approved Ground Lease (if applicable); (B) that such Approved Ground Lease or easement
agreement is in full force and effect and has not been modified except to the extent
Administrative Agent has received notice of such modification; (C) that no rental and other
payments due thereunder are delinquent as of the date of such estoppel; and (D) whether such
Person knows of any actual or alleged defaults or events of default under the applicable
Approved Ground Lease or easement agreement;

provided, that each Borrower hereby agrees to execute and deliver to the Administrative Agent,
within thirty (30) days of any request therefor, such documents, instruments, agreements,
assignments or other conveyances reasonably requested by the Administrative Agent in connection
with or in furtherance of any of the provisions set forth above or the rights granted to the
Administrative Agent in connection therewith.

	 	 	 	 	 
	6.16	 	[Reserved].
	 	6.17	 	 	[Reserved].

	 	6.18	 	 	Additional Insurance Requirements for Borrowing Base Properties.

(a) Obtain and maintain, with respect to each Borrowing Base Property, at its (or their) sole
expense the following:

(i) property insurance with respect to all insurable property located at or on or
constituting a part of such Borrowing Base Property, against loss or damage by fire,
lightning, windstorm, explosion, hail, tornado and such additional hazards as are presently
included in “Special Form” (also known as “all-risk”) coverage and against any and all acts
of terrorism and such other insurable hazards as the Administrative Agent may require, in an
amount not less than one hundred percent (100%) of the full replacement cost, including the
cost of debris removal, without deduction for depreciation and sufficient to prevent the
applicable Loan Parties and the Administrative Agent from becoming a coinsurer, such
insurance to be in “builder’s risk” completed value (non reporting) form during and with
respect to any construction on or with respect to such Borrowing Base Property;

(ii) if and to the extent any portion of any of the improvements are, under the Flood
Disaster Protection Act of 1973 (“FDPA”), as it may be amended from time to time, in
a Special Flood hazard Area, within a Flood Zone designated A or V in a participating
community, a flood insurance policy in an amount required by the Administrative Agent, but
in no event less than the amount sufficient to meet the requirements of applicable law and
the FDPA, as such requirements may from time to time be in effect;

(iii) general liability insurance, on an “occurrence” basis, against claims for
“personal injury” liability, including bodily injury, death or property damage liability,
for the benefit of the applicable Loan Party as named insured and the Administrative Agent
as additional insured;

(iv) statutory workers’ compensation insurance with respect to any work on or about
such Borrowing Base Property (including employer’s liability insurance, if required by the
Administrative Agent), covering all employees of the applicable Loan Party and/or its
applicable Subsidiary(ies) and any contractor;

(v) if there is a general contractor, commercial general liability insurance, including
products and completed operations coverage, and in other respects similar to that described
in clause (iv) above, for the benefit of the general contractor as named insured and
the Loan Party and the Administrative Agent as additional insureds, in addition to statutory
workers’ compensation insurance with respect to any work on or about the premises (including
employer’s liability insurance, if required by the Administrative Agent), covering all
employees of the general contractor and any contractor; and

(vi) such other insurance (and related endorsements) as may from time to time be
required by the Administrative Agent (including but not limited to soft cost coverage,
automobile liability insurance, business interruption insurance or delayed rental insurance,
boiler and machinery insurance, earthquake insurance (if then customarily carried by owners
of premises similarly situated), wind insurance, sinkhole coverage, and/or permit to occupy
endorsement) and against other insurable hazards or casualties which at the time are
commonly insured against in the case of premises similarly situated, due regard being given
to the height, type, construction, location, use and occupancy of buildings and
improvements.

(b) All insurance policies obtained by any Loan Party with respect to or in connection with
any Borrowing Base Property shall be issued and maintained by insurers, in amounts, with
deductibles, limits and retentions, and in forms satisfactory to the Administrative Agent, and
shall require not less than thirty (30) days prior written notice to the Administrative Agent of
any cancellation or any change of coverage.

(c) All insurance companies providing coverage pursuant to clause (a) of this
Section 6.18 or any other general coverage required pursuant to any Loan Documents must be
licensed to do business in the state in which the applicable Borrowing Base Property is located and
must have an A.M. Best Company financial and performance ratings of A-:IX or better.

(d) All insurance policies maintained, or caused to be maintained, by any Loan Party with
respect to any Borrowing Base Property, except for general liability insurance, shall provide that
each such policy shall be primary without right of contribution from any other insurance that may
be carried by such Loan Party or the Administrative Agent and that all of the provisions thereof,
except the limits of liability, shall operate in the same manner as if there were a separate policy
covering each insured.

(e) If any insurer which has issued a policy of title, hazard, liability or other insurance
required pursuant to this Section 6.18 or any other provision of any Loan Document becomes
insolvent or the subject of any petition, case, proceeding or other action pursuant to any debtor
relief law, or if in the Administrative Agent’s opinion the financial responsibility of such
insurer is or becomes inadequate, such Loan Party shall, in each instance promptly upon its
discovery thereof or upon the request of the Administrative Agent therefor, and at the Loan Party’s
expense, promptly obtain and deliver to the Administrative Agent a like policy (or, if and to the
extent permitted by the Administrative Agent, acceptable evidence of insurance) issued by another
insurer, which insurer and policy meet the requirements of this Section 6.18 or any other
provision of any Loan Document, as the case may be.

(f) Without limiting the discretion of the Administrative Agent with respect to required
endorsements to insurance policies, all such policies for loss of or damage to any Borrowing Base
Property shall contain a standard mortgagee clause (without contribution) naming the Administrative
Agent as mortgagee with loss proceeds payable to the Administrative Agent notwithstanding (i) any
act, failure to act or negligence of or violation of any warranty, declaration or condition
contained in any such policy by any named or additional insured; (ii) the occupation or use of such
Borrowing Base Property for purposes more hazardous than permitted by the terms of any such policy;
(iii) any foreclosure or other action by the Administrative Agent under the Loan Documents; or (iv)
any change in title to or ownership of such Borrowing Base Property or any portion thereof, such
proceeds to be held for application as provided in the Loan Documents.

(g) The originals of each initial insurance policy (or to the extent permitted by the
Administrative Agent, a copy of the original policy and such evidence of insurance as may be
acceptable to the Administrative Agent) shall be delivered to the Administrative Agent at the time
of execution of the applicable Mortgage, with all premiums fully paid current, and each renewal or
substitute policy (or evidence of insurance) shall be delivered to the Administrative Agent, with
all premiums fully paid current, at least ten (10) Business Days before the termination of the
policy it renews or replaces. The applicable Loan Party shall pay all premiums on policies
required hereunder as they become due and payable and promptly deliver to the Administrative Agent
evidence satisfactory to the Administrative Agent of the timely payment thereof.

(h) If any loss occurs at any time when the applicable Loan Party has failed to perform the
covenants and agreements set forth in this Section 6.18 with respect to any insurance
payable because of loss sustained to any part of the premises whether or not such insurance is
required by the Administrative Agent, then the Administrative Agent shall nevertheless be entitled
to the benefit of all insurance covering the loss and held by or for the applicable Loan Party, to
the same extent as if it had been made payable to the Administrative Agent.

(i) Upon any foreclosure of any Mortgage or transfer of title to all or any portion of any
Borrower Base Property in extinguishment of the whole or any part of the Obligations, all of the
applicable Loan Party’s right, title and interest in and to the insurance policies referred to in
this Section 6.18 with respect to such Borrowing Base Property (including unearned
premiums) and all proceeds payable thereunder shall thereupon vest in the purchaser at foreclosure
or other such transferee, to the extent permissible under such policies.

(j) The Administrative Agent shall have the right (but not the obligation) to make proof of
loss for, settle and adjust any claim under, and receive the proceeds of, all insurance for loss of
or damage to any Borrowing Base Property, regardless of whether or not such insurance policies are
required by the Administrative Agent, and the reasonable expenses incurred by the Administrative
Agent in the adjustment and collection of insurance proceeds shall be a part of the Obligations and
shall be due and payable to the Administrative Agent on demand. The Administrative Agent shall not
be, under any circumstances, liable or responsible for failure to collect or exercise diligence in
the collection of any of such proceeds or for the obtaining, maintaining or adequacy of any
insurance or for failure to see to the proper application of any amount paid over to any Loan
Party. Any such proceeds received by the Administrative Agent shall, after deduction therefrom of
all reasonable expenses actually incurred by the Administrative Agent, including attorneys’ fees,
at the Administrative Agent’s option be (i) released to the applicable Loan Party, or (ii) applied
(upon compliance with such terms and conditions as may be required by the Administrative Agent ) to
repair or restoration, either partly or entirely, of the Borrowing Base Property so damaged, or
(iii) applied to the payment of the Obligations in such order and manner as the Administrative
Agent, in its sole discretion, may elect, whether or not due (provided, that to the extent any such
proceeds are applied to any portion of the outstanding principal or interest on any of the Loans,
such proceeds shall be applied to all Outstanding Amounts on any Loans pro rata based on the Total
Outstandings). Notwithstanding the foregoing, the Administrative Agent agrees to make such
insurance proceeds with respect to a Borrowing Base Property available to the Borrower for the
repair and/or restoration of such Borrowing Base Property if ALL of the following conditions are
met: (1) no Default or Event of Default exists hereunder or under any other instrument evidencing,
securing or otherwise relating to the Obligations, (2) the cost to repair and/or restore the
subject Borrowing Base Property does not exceed thirty percent (30%) of the appraised value of the
Borrowing Base Property, as determined by the Administrative Agent in its sole but reasonable
discretion, (3) the repair and/or restoration of the Borrowing Base Property can be completed on or
before four (4) months prior to the then applicable Maturity Date, as determined by the
Administrative Agent in its sole but reasonable discretion, (4) if the cost to fully repair and/or
restore the Borrowing Base Property exceeds the available insurance proceeds, as determined by the
Administrative Agent in its sole but reasonable discretion, the Borrower deposits with the
Administrative Agent the funds required, as determined by the Administrative Agent in its sole but
reasonable discretion, when added to the available insurance proceeds, to complete the repair
and/or restoration of the Borrowing Base Property, (5) the Total Outstandings shall comply with the
Borrowing Base, and (6) all insurance proceeds and other required funds are held by the
Administrative Agent and disbursed, and the repairs and/or restoration of the Borrowing Base
Property completed, pursuant to the Administrative Agent’s standard construction loan policies and
procedures. In any event, the unpaid portion of the Obligations shall remain in full force and
effect and the payment thereof shall not be excused.

(k) Each Loan Party shall at all times comply in all material respects with the requirements
of the insurance policies required hereunder and of the issuers of such policies and of any board
of fire underwriters or similar body as applicable to or affecting any Borrowing Base Property.

6.19 Updated Appraisals. Acknowledge and agree that the Administrative Agent shall have the
right, in its discretion, to obtain, at the sole expense of the Borrower, a new or updated
Appraisal with respect to any of the Borrowing Base Properties (in addition to the re-appraisals
that may be required in connection with the exercise of the Borrower’s option to extend the
Maturity Date pursuant to Section 2.14 and in addition to the appraisals that are to be
delivered to the Administrative Agent in connection with adding a property to the Borrowing Base
pursuant to Section 1.07), (a) upon the occurrence of a Default or an Event of Default, (b)
in any event, twelve (12) months after the date hereof in order to determine compliance with the
Borrowing Base relative to the Collateral Amount, and (c) at the sole discretion of the
Administrative Agent, with respect to any Borrowing Base Property added after the date of this
Agreement, twelve (12) after the date such Borrowing Base Property is so added as a property to the
Borrowing Base; provided, without limiting the foregoing right of the Administrative Agent, so long
as no Event of Default shall have occurred and then be continuing, the Administrative Agent shall,
within fifteen (15) Business Days following the written request of the Borrower and at the sole
cost and expense of the Borrower, order new or updated Appraisals for any of the Borrowing Base
Properties to the extent that the most recently delivered Appraisal related to any such Borrowing
Base Property is more than six (6) calendar months old. In addition, to the extent the
Administrative Agent initially incurs any costs or expenses related to any new or updated Appraisal
provided for in this Section 6.19, the Borrower shall reimburse the Administrative Agent
upon demand in the amount of such costs or expenses. As such new or updated Appraisals are
obtained and approved by the Administrative Agent, such Appraisals shall, immediately upon such
approval, be used in the determination of the BBP Value of the applicable Borrowing Base Property.

6.20 Title Insurance Policy. In connection with the addition of a Borrowing Base Property to
the Borrowing Base pursuant to Section 1.07, to the Administrative Agent a Mortgage Policy
with respect to the applicable Borrowing Base Property, together with endorsements and in amounts
acceptable to the Administrative Agent, issued, coinsured and reinsured by title insurers
acceptable to the Administrative Agent, insuring the Mortgages to be valid first and subsisting
Liens on the property described therein, free and clear of all defects (including, but not limited
to, mechanics’ and materialmen’s Liens) and encumbrances, excepting only Permitted Liens and other
Liens approved by the Administrative Agent and providing for such other affirmative insurance
(including endorsements for future advances under the Loan Documents, for mechanics’ and
materialmen’s Liens and for zoning of the applicable property) and such coinsurance and direct
access reinsurance as the Administrative Agent may deem necessary or desirable and as may be
available in the state where such Real Property is located.

6.21. Borrowing Base Covenants. At all times, which shall be tested as of the end of each
calendar quarter (commencing with the calendar quarter ending on September 30, 2010) and each time
Borrower makes a Request for Credit Extension, the Total Outstandings (plus, in the case of a
Request for Credit Extension, such amount that is being requested under the Loan), shall comply
with the Borrowing Base.

ARTICLE VII.

NEGATIVE COVENANTS

So long as any Lender shall have any Commitment hereunder, any Loan or other Obligation
hereunder shall not be Fully Satisfied, the Borrower shall not, nor shall it permit any BBP
Subsidiary to, directly or indirectly:

7.01 Liens. Create, incur, assume or suffer to exist any Lien upon any of the Borrowing Base
Properties or any collateral granted under the Pledge Agreement, whether now owned or hereafter
acquired, other than the following (such shall be referred to as “Permitted Liens”):

(a) Liens pursuant to any Loan Document;

(b) Liens existing on the date hereof and listed on Schedule 5.08(b) and any renewals
or extensions thereof, provided that (i) the property covered thereby is not changed, (ii) the
amount secured or benefited thereby is not increased except as contemplated by Section
7.03(b), (iii) the direct or any contingent obligor with respect thereto is not changed, and
(iv) any renewal or extension of the obligations secured or benefited thereby is permitted by
Section 7.03(b);

(c) Liens for taxes not yet due or which are being contested in good faith and by appropriate
proceedings diligently conducted, if adequate reserves with respect thereto are maintained on the
books of the applicable Person in accordance with GAAP;

(d) carriers’, warehousemen’s, mechanics’, materialmen’s, repairmen’s or other like Liens
arising in the ordinary course of business which are not overdue for a period of more than thirty
(30) days or which are being contested in good faith and by appropriate proceedings diligently
conducted, if adequate reserves with respect thereto are maintained on the books of the applicable
Person;

(e) pledges or deposits in the ordinary course of business in connection with workers’
compensation, unemployment insurance and other social security legislation, other than any Lien
imposed by ERISA;

(f) deposits to secure the performance of bids, trade contracts and leases (other than
Indebtedness), statutory obligations, surety and appeal bonds, performance bonds and other
obligations of a like nature incurred in the ordinary course of business;

(g) easements, rights-of-way, restrictions and other similar encumbrances affecting real
property which, in the aggregate, are not substantial in amount, and which do not in any case
materially detract from the value of the property subject thereto or materially interfere with the
ordinary conduct of the business of the applicable Person and which, with respect to the Borrowing
Base Properties, have been reviewed and approved by the Administrative Agent (such approval to be
in the sole discretion of the Administrative Agent);

(h) Liens securing judgments for the payment of money not constituting an Event of Default
under Section 8.01(h);

(i) Liens, if any, to secure the obligations of a Defaulting Lender or an Impacted Lender to
fund risk participations hereunder; and

	 	 	 	 	 
	 	(j	)	 	the interests of any ground lessor under an Approved Ground Lease.

	 	7.02	 	 	Investments. Make any Investments, except:

	 	(a	)	 	Investments held by the Borrower in the form of cash equivalents;

(b) the G&E Healthcare Borrower may engage in the business it is engaged in on the date hereof
and other businesses reasonably related thereto; and

(c) Investments consisting of extensions of credit in the nature of accounts receivable or
notes receivable arising from the grant of trade credit in the ordinary course of business, and
Investments received in satisfaction or partial satisfaction thereof from financially troubled
account debtors to the extent reasonably necessary in order to prevent or limit loss.

7.03 Indebtedness. Create, incur, assume or suffer to exist any Indebtedness, except:

(a) Indebtedness under the Loan Documents;

(b) obligations (contingent or otherwise) of the Borrower existing or arising under any Swap
Contract, provided that (i) such obligations are (or were) entered into by such Person in the
ordinary course of business for the purpose of directly mitigating risks associated with
liabilities, commitments, investments, assets, or property held or reasonably anticipated by such
Person, or changes in the value of securities issued by such Person, and not for purposes of
speculation or taking a “market view”; and (ii) such Swap Contract does not contain any provision
exonerating the non-defaulting party from its obligation to make payments on outstanding
transactions to the defaulting party; and

(c) Indebtedness incurred in the ordinary course of business.

7.04 Fundamental Changes. Merge, dissolve, liquidate, consolidate with or into another Person
which results in a Change of Control, or Dispose of (whether in one transaction or in a series of
transactions) all or substantially all of its assets (whether now owned or hereafter acquired) to
or in favor of any Person.

7.05 Dispositions.

(a) Unless otherwise permitted under Section 1.07, make any Disposition of any
Borrowing Base Property during the term of this Agreement; or

(b) notwithstanding anything contained herein to the contrary, make or permit to occur any
Dispositions of any material asset (including, without limitation, capital stock or similar
ownership interests) for less than its fair market value if an Event of Default has occurred and is
continuing or if such Disposition would reasonably be expected to result in a Default or an Event
of Default (unless the Administrative Agent and Required Lenders have approved such Disposition in
writing, such consent to be granted or withheld in the discretion of the Administrative Agent and
the Lenders);

(c) as to each BBP Subsidiary, make any other Disposition or enter into any agreement to make
any other Disposition, except (in each case, to the extent such Disposition is for no less than
fair market value):

(i) Dispositions of obsolete or worn out property, whether now owned or hereafter
acquired, in the ordinary course of business; and

(ii) Dispositions of equipment or real property to the extent that (i) such property is
exchanged for credit against the purchase price of similar replacement property or (ii) the
proceeds of such Disposition are reasonably promptly applied to the purchase price of such
replacement property.

provided, that the provisions of Section 1.07 shall, to the extent inconsistent with the
terms of this Section 7.05, govern Dispositions of Borrowing Base Properties.

7.06 Restricted Payments. Make any Restricted Payments to their respective partners,
shareholders or members, of any revenue received by or on behalf of the G&E Healthcare Borrower or
such BBP Subsidiary from the ownership and operation of any property directly or indirectly owned
by G&E Healthcare Borrower or such BBP Subsidiary, including any Borrowing Base Properties if a
Default or an Event of Default has occurred and has not been waived or has occurred during the
prior two (2) calendar quarters; provided, however, during such period the G&E Healthcare Borrower
and such BBP Subsidiary may declare and make Restricted Payments, directly or indirectly, to the
Guarantor and their other partners, shareholders or members on a pro rata basis to the extent
necessary for the Guarantor to maintain its status as a REIT. Notwithstanding the foregoing or
anything herein to the contrary, if either (a) an Event of Default under Section 8.01(a)
has occurred which has not been waived, or (b) the Total Outstandings exceed the Borrowing Base,
then without the Administrative Agent’s prior written consent, no BBP Subsidiary shall be permitted
to make any Restricted Payments to any partners, shareholders or members.

7.07 Change in Nature of Business. Engage in any material line of business substantially
different from those lines of business conducted by the Borrower on the date hereof or any business
substantially related or incidental thereto.

7.08 Transactions with Affiliates. Enter into any transaction of any kind with any Affiliate of
the Borrower, whether or not in the ordinary course of business, other than on fair and reasonable
terms substantially as favorable to the Borrower as would be obtainable by the Borrower at the time
in a comparable arm’s length transaction with a Person other than an Affiliate, provided, that the
foregoing restriction shall not apply to transactions between or among (a) any Borrower and the
Guarantor or between and among any Borrowers, or between and among any Loan Party or an Approved
Manager (if applicable), or (b) between any Loan Party and the Advisor under the Advisory
Agreement, which Advisory Agreement the Administrative Agent hereby approves; provided, however,
that the Advisory Agreement may not be terminated (except as specifically set forth in the Advisory
Agreement), or amended or otherwise modified in any way which would materially or negatively impair
the rights or obligations of the Borrower without in each instance the prior written consent of the
Administrative Agent, which consent shall not be unreasonably withheld.

7.09 Burdensome Agreements. Enter into any Contractual Obligation (other than this Agreement
or any other Loan Document) that (a) limits the ability (i) of any BBP Subsidiary to make
Restricted Payments to any Borrower or the Guarantor or to otherwise transfer property to any
Borrower or the Guarantor, (ii) of any BBP Subsidiary to become a co-obligor and borrower of the
Indebtedness of the Borrower hereunder, or (iii) of the Borrower or any BBP Subsidiary to create,
incur, assume or suffer to exist Liens on any Borrowing Base Property or any collateral pledged
pursuant to the Pledge Agreement.

7.10 Use of Proceeds. Use the proceeds of any Credit Extension, whether directly or
indirectly, and whether immediately, incidentally or ultimately, to purchase or carry margin stock
(within the meaning of Regulation U of the FRB) or to extend credit to others for the purpose of
purchasing or carrying margin stock or to refund indebtedness originally incurred for such purpose.

7.11 Borrowing Base Covenants. As of the applicable calculation date, fail to comply with the
Borrowing Base.

7.12 Capital Expenditures. As to any BBP Subsidiary, make or become legally obligated to make
any expenditure in respect of the purchase or other acquisition of any fixed or capital asset
(excluding normal replacements and maintenance which are properly charged to current operations).

7.13 Accounting Changes. Make any change in (a) accounting policies or reporting practices,
except as required by GAAP, or (b) fiscal year, except with the written consent of the
Administrative Agent.

7.14 Ownership of Subsidiaries. Notwithstanding any other provisions of this Agreement to the
contrary, (a) permit any Person (other than a Loan Party) to own any Equity Interests of any
Borrowing Base Entity, except to qualify directors where required by applicable law, (b) permit any
Loan Party that owns a Borrowing Base Property to issue or have outstanding any shares of preferred
Equity Interests, or (c) permit, create, incur, assume or suffer to exist any Lien on any Equity
Interests of any Borrowing Base Entity (other than pursuant to the Collateral Documents).

7.15 Leases. Permit any Borrowing Base Entity to enter into, terminate, cancel, amend,
restate, supplement or otherwise modify any Material Lease relating to any Borrowing Base Property,
or enter into any Lease that is not on the Borrower’s standard form of tenant lease approved by the
Administrative Agent for such Borrowing Base Property, without the prior written approval of the
Administrative Agent.

7.16 Sale Leasebacks. Permit any Loan Party to enter into any Sale and Leaseback Transaction
with respect to any Borrowing Base Property.

7.17 Intentionally Omitted.

7.18 Additional Borrowing Base Property Matters.

(a) Permit (i) any Borrowing Base Property to cease to be wholly owned by a Loan Party or
ground leased by a Loan Party pursuant to an Approved Ground Lease; (ii) the existence of any
material default or any event of default of a Loan Party under any Approved Ground Lease with
respect to any Borrowing Base Property; (iii) any Borrowing Base Property to cease to be encumbered
by a first priority perfected Lien (subject only to Permitted Liens) in favor of the Administrative
Agent (for the benefit of the Lenders, the Administrative Agent and the other Secured Parties); or
(iv) any Borrowing Base Property to be subject to any Lien other than a Permitted Lien.

(b) Without limiting the foregoing, neither the Borrower nor any other Loan Party shall add
any Borrowing Base Property to, or remove any Borrowing Base Property from, the Borrowing Base,
except in accordance with the provisions of Section 1.07.

7.19 Insurance Proceeds and Condemnation Awards.

(a) In the event of any loss or damage to any portion of any Borrowing Base Property due to
fire or other casualty, or any taking of any portion of any Borrowing Base Property by condemnation
or under power of eminent domain, the Administration Agent shall have the right, but not the
obligation, to settle insurance claims and condemnation claims or awards, unless the loss or damage
is less than $250,000.00. If (i) the loss or damage is less than $250,000.00, or (ii) the
Administrative Agent elects not to settle such claim or award, then the applicable Borrowing Base
Entity shall have the right to settle such claim or award without the consent of the Administrative
Agent or the Required Lenders; provided that (A) such Borrowing Base Entity shall use the proceeds
of any claim or award to rebuild or restore the applicable Borrowing Base Property substantially to
its condition prior to the casualty or condemnation to the extent permitted by Laws, and (B) such
Borrowing Base Entity shall provide the Administrative Agent with notice of the casualty or
condemnations. Failure to use the insurance proceeds received directly from the insurance company
to rebuild and restore shall constitute an Event of Default. In all other cases, subject to
Section 6.18(j) of this Agreement, the Administrative Agent shall have the right (but not
the obligation) to collect, retain and apply to the Indebtedness all insurance and condemnation
proceeds (after deduction of all expense of collection and settlement, including reasonable
attorney and adjusters’ fees and expenses). Any proceeds remaining after application to the
Indebtedness shall be paid by the Administrative Agent to the Borrower or the party then entitled
thereto.

(b) If the Administrative Agent does not elect to or is not entitled to apply casualty
proceeds or condemnation awards to the Indebtedness and if the Loan Parties are not entitled to
settle such claims, all as provided under Section 7.19(a), the Administrative Agent shall
have the right (but not the obligation) to settle, collect and retain such proceeds, and after
deduction of all reasonable expenses of collection and settlement, including reasonable attorney
and adjusters’ fees and expenses, to release the same to the Borrower (or the applicable Borrowing
Base Entity, at the instruction of the Borrower) periodically, provided that the Borrower (or the
applicable Borrowing Base Entity) shall:

(i) expeditiously repair and restore all damage to the portion of the Borrowing Base
Property in question resulting from such casualty or condemnation, including completion of
the construction if such fire or other casualty shall have occurred prior to completion, so
that the Borrowing Base Property continue to qualify as a Borrowing Base Property following
such construction; and

(ii) if the casualty proceeds or condemnation awards are, in the Administrative Agent’s
reasonable judgment, insufficient to complete the repair and restoration of the buildings,
structures and other improvements constituting the Borrowing Base Property as aforesaid,
then the Loan Parties shall promptly deposit with the Administrative Agent the amount of
such deficiency.

Any request by a Loan Party for a disbursement by the Administrative Agent of casualty proceeds or
condemnation awards by the Borrower pursuant to this Section 7.19 and the disbursement
thereof shall be conditioned upon the Loan Parties’ compliance with and satisfaction of the same
conditions precedent as would be applicable in connection with construction loans made by
institutional lenders for projects similar to the affected Borrowing Base Property, including
approval of plans and specifications, submittal of evidence of completion, updated title insurance,
lien waivers, and other customary safeguards.

ARTICLE VIII.

EVENTS OF DEFAULT AND REMEDIES

8.01 Events of Default. Any of the following shall constitute an Event of Default:

(a) Non-Payment. The Borrower or any other Loan Party fails to pay (i) when and as
required to be paid herein, any amount of interest on or principal of any Loan or fee due
hereunder, or (ii) within five (5) days after the same becomes due, any other amount payable
hereunder or under any other Loan Document; or

(b) Specific Covenants. The Borrower fails to perform or observe any term, covenant
or agreement contained in any of Sections 6.01, 6.02, 6.03, 6.05,
6.10, 6.11, 6.12, 6.13, 6.15, 6.18, 6.21 or
Article VII, or the Guarantor fails to perform or observe any term, covenant or agreement
contained in the Guaranty Agreement; or

(c) Other Defaults. Any Loan Party fails to perform or observe any other covenant or
agreement (not specified in subsection (a) or (b) above) contained in any Loan Document on
its part to be performed or observed and such failure continues for thirty (30) days or the
occurrence of an Event of Default (as defined in the Guaranty Agreement) under the Guaranty
Agreement; or

(d) Representations and Warranties. Any representation, warranty, certification or
statement of fact made or deemed made by or on behalf of the Borrower or any other Loan Party
herein, in any other Loan Document, or in any document delivered in connection herewith or
therewith shall be incorrect or misleading when made or deemed made; or

(e) Cross-Default. (i) The Borrower (A) fails to make any payment when due (whether
by scheduled maturity, required prepayment, acceleration, demand, or otherwise) in respect of any
Indebtedness or guarantee (other than Indebtedness hereunder and Indebtedness under Swap Contracts)
having an aggregate principal amount (including undrawn committed or available amounts and
including amounts owing to all creditors under any combined or syndicated credit arrangement) with
respect to the G&E Healthcare Borrower of more than the Threshold Amount, or with respect to any
BBP Subsidiary of more than $1,000,000.00, or (B) fails to observe or perform any other agreement
or condition relating to any such Indebtedness or guarantee referred to in clause (A) or
contained in any instrument or agreement evidencing, securing or relating thereto, or any other
event occurs, the effect of which default or other event is to cause, or to permit the holder or
holders of such Indebtedness or the beneficiary or beneficiaries of such guarantee referred to in
clause (A) (or a trustee or agent on behalf of such holder or holders or beneficiary or
beneficiaries) to cause, with the giving of notice if required, such Indebtedness to be demanded or
to become due or to be repurchased, prepaid, defeased or redeemed (automatically or otherwise), or
an offer to repurchase, prepay, defease or redeem such Indebtedness to be made, prior to its stated
maturity, or such guarantee to become payable or cash collateral in respect thereof to be demanded;
or (ii) there occurs under any Swap Contract an Early Termination Date (as defined in such Swap
Contract) resulting from (A) any event of default under such Swap Contract as to which the Borrower
is the Defaulting Party (as defined in such Swap Contract), or (B) any Termination Event (as so
defined) under such Swap Contract as to which the Borrower is an Affected Party (as so defined)
and, in either event, the Swap Termination Value owed by the Borrower as a result thereof is
greater than the Threshold Amount in the case of the G&E Healthcare Borrower or $1,000,000.00 in
the case of any BBP Subsidiary; or

(f) Insolvency Proceedings, Etc. Any Loan Party institutes or consents to the
institution of any proceeding under any Debtor Relief Law, or makes an assignment for the benefit
of creditors; or applies for or consents to the appointment of any receiver, trustee, custodian,
conservator, liquidator, rehabilitator or similar officer for it or for all or any material part of
its property; or any receiver, trustee, custodian, conservator, liquidator, rehabilitator or
similar officer is appointed without the application or consent of such Person and the appointment
continues undischarged or unstayed for sixty (60) calendar days; or any proceeding under any Debtor
Relief Law relating to any such Person or to all or any material part of its property is instituted
without the consent of such Person and continues undismissed or unstayed for sixty (60) calendar
days, or an order for relief is entered in any such proceeding; or

(g) Inability to Pay Debts; Attachment. (i) The Borrower or any Loan Party becomes
unable or admits in writing its inability or fails generally to pay its debts as they become due,
or (ii) any writ or warrant of attachment or execution or similar process is issued or levied
against all or any material part of the property of any such Person and is not released, vacated or
fully bonded within thirty (30) days after its issue or levy; or

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

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

(j) Invalidity of Loan Documents. Any provision of any Loan Document, at any time
after its execution and delivery and for any reason other than as expressly permitted hereunder or
thereunder or satisfaction in full of all the Obligations, ceases to be in full force and effect;
or any Loan Party or any other Person contests in any manner the validity or enforceability of any
provision of any Loan Document; or any Loan Party denies that it has any or further liability or
obligation under any Loan Document, or purports to revoke, terminate or rescind any provision of
any Loan Document; or

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

(l) Collateral Documents. Any Collateral Document after delivery thereof pursuant to
Sections 4.01 or 6.13 shall for any reason (other than pursuant to the terms
thereof) cease to create a valid and perfected first priority Lien on the Collateral purported to
be covered thereby; or

(m) REIT or QRS Status. If (i) at such time as the Guarantor satisfies the
requirements to elect and qualify for REIT status, the Guarantor fails to take the necessary
actions to so elect and qualify for REIT status, or (ii) at any time after the Guarantor has so
elected and qualified for REIT status, the Guarantor shall, for any reason, lose or fail to
maintain its status as a REIT, or (iii) any BBP Subsidiary that is a corporation shall, for any
reason, lose or fail to maintain its status as a QRS.

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

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

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

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

provided, however, that upon the occurrence of an actual or deemed entry of an order for relief
with respect to the Borrower under the Bankruptcy Code of the United States, the obligation of each
Lender to make Loans shall automatically terminate, the unpaid principal amount of all outstanding
Loans and all interest and other amounts as aforesaid shall automatically become due and payable
without further act of the Administrative Agent or any Lender.

8.03 Application of Funds. After the exercise of remedies provided for in Section
8.02 (or after the Loans have automatically become immediately due and payable), any amounts
received on account of the Obligations shall, subject to the provisions of Sections 2.17 and
2.18, be applied by the Administrative Agent in the following order:

First, to payment of that portion of the Obligations constituting fees, indemnities,
expenses and other amounts (including fees, charges and disbursements of counsel to the
Administrative Agent and amounts payable under Article III) payable to the Administrative
Agent in its capacity as such;

Second, to payment of that portion of the Obligations constituting fees, indemnities
and other amounts (other than principal and interest) payable to the Lenders (including fees,
charges and disbursements of counsel to the respective Lenders [including fees and time charges for
attorneys who may be employees of any Lender] and amounts payable under Article III),
ratably among them in proportion to the respective amounts described in this clause Second
payable to them;

Third, to payment of that portion of the Obligations constituting accrued and unpaid
interest on the Loans and other Obligations, ratably among the Lenders in proportion to the
respective amounts described in this clause Third payable to them;

Fourth, to payment of that portion of the Obligations constituting unpaid principal of
the Loans and Obligations then owing under Secured Hedge Agreements, ratably among the Lenders and
the Hedge Banks in proportion to the respective amounts described in this clause Fourth
held by them; and

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

8.04 Special Provision Regarding Failure to Comply with Borrowing Base. Notwithstanding any
provision herein or in any other Loan Document to the contrary (including Section 8.01(b)),
each of the Administrative Agent and the Lenders agrees that the failure of the Borrower and the
other Loan Parties to comply with the Borrowing Base set forth in Section 6.21 (any such
failure, a “Borrowing Base Failure Event”) shall not constitute an Event of Default if the
Borrower, within thirty (30) days after determining that such Borrowing Base Failure Event shall
have occurred, (a) repays the principal of the Loan in the amount, as determined by the
Administrative Agent, sufficient to bring the Borrowing Base into compliance, or (b) in lieu of
making such payment, the Borrower posts with the Administrative Agent cash collateral, or other
collateral acceptable to the Administrative Agent in its sole and absolute discretion, during the
period that the Borrowing Base is not satisfied. Following the occurrence of a Borrowing Base
Failure Event, the Borrower shall not submit any Request for Credit Extension unless and until the
condition giving rise to such Borrowing Base Failure Event shall no longer exist, the Borrower and
the other Loan Parties are in full compliance with the covenants set forth in Section 6.21,
and all other conditions for such Credit Extension (including those conditions set forth in
Article IV) have been satisfied.

ARTICLE IX.

ADMINISTRATIVE AGENT

9.01 Appointment and Authority. Each of the Lenders hereby irrevocably appoints Bank of
America to act on its behalf as the Administrative Agent hereunder and under the other Loan
Documents and authorizes the Administrative Agent to take such actions on its behalf and to
exercise such powers as are delegated to the Administrative Agent by the terms hereof or thereof,
together with such actions and powers as are reasonably incidental thereto. The provisions of this
Article are solely for the benefit of the Administrative Agent and the Lenders, and neither the
Borrower nor any other Loan Party shall have rights as a third party beneficiary of any of such
provisions.

9.02 Rights as a Lender. The Person serving as the Administrative Agent hereunder shall have
the same rights and powers in its capacity as a Lender as any other Lender and may exercise the
same as though it were not the Administrative Agent and the term “Lender” or “Lenders” shall,
unless otherwise expressly indicated or unless the context otherwise requires, include the Person
serving as the Administrative Agent hereunder in its individual capacity. Such Person and its
Affiliates may accept deposits from, lend money to, act as the financial advisor or in any other
advisory capacity for and generally engage in any kind of business with the Borrower or any Loan
Party or other Affiliate thereof as if such Person were not the Administrative Agent hereunder and
without any duty to account therefor to the Lenders.

9.03 Exculpatory Provisions. The Administrative Agent shall not have any duties or
obligations except those expressly set forth herein and in the other Loan Documents. Without
limiting the generality of the foregoing, the Administrative Agent:

(a) shall not be subject to any fiduciary or other implied duties, regardless of whether a
Default has occurred and is continuing;

(b) shall not have any duty to take any discretionary action or exercise any discretionary
powers, except discretionary rights and powers expressly contemplated hereby or by the other Loan
Documents that the Administrative Agent is required to exercise as directed in writing by the
Required Lenders (or such other number or percentage of the Lenders as shall be expressly provided
for herein or in the other Loan Documents), provided that the Administrative Agent shall not be
required to take any action that, in its opinion or the opinion of its counsel, may expose the
Administrative Agent to liability or that is contrary to any Loan Document or applicable law; and

(c) shall not, except as expressly set forth herein and in the other Loan Documents, have any
duty to disclose, and shall not be liable for the failure to disclose, any information relating to
the Borrower or any of its Affiliates that is communicated to or obtained by the Person serving as
the Administrative Agent or any of its Affiliates in any capacity.

The Administrative Agent shall not be liable for any action taken or not taken by it (i) with
the consent or at the request of the Required Lenders (or such other number or percentage of the
Lenders as shall be necessary, or as the Administrative Agent shall believe in good faith shall be
necessary, under the circumstances as provided in Sections 10.01 and 8.02), or (ii)
in the absence of its own gross negligence or willful misconduct. The Administrative Agent shall
be deemed not to have knowledge of any Default unless and until notice describing such Default is
given to the Administrative Agent by the Borrower or a Lender.

The Administrative Agent shall not be responsible for or have any duty to ascertain or inquire
into (i) any statement, warranty or representation made in or in connection with this Agreement or
any other Loan Document, (ii) the contents of any certificate, report or other document delivered
hereunder or thereunder or in connection herewith or therewith, (iii) the performance or observance
of any of the covenants, agreements or other terms or conditions set forth herein or therein or the
occurrence of any Default, (iv) the validity, enforceability, effectiveness or genuineness of this
Agreement, any other Loan Document or any other agreement, instrument or document, or (v) the
satisfaction of any condition set forth in Article IV or elsewhere herein, other than to
confirm receipt of items expressly required to be delivered to the Administrative Agent.

9.04 Reliance by Administrative Agent. The Administrative Agent shall be entitled to rely
upon, and shall not incur any liability for relying upon, any notice, request, certificate,
consent, statement, instrument, document or other writing (including any electronic message,
Internet or intranet website posting or other distribution) believed by it to be genuine and to
have been signed, sent or otherwise authenticated by the proper Person. The Administrative Agent
also may rely upon any statement made to it orally or by telephone and believed by it to have been
made by the proper Person, and shall not incur any liability for relying thereon. In determining
compliance with any condition hereunder to the making of a Loan that by its terms must be fulfilled
to the satisfaction of a Lender, the Administrative Agent may presume that such condition is
satisfactory to such Lender unless the Administrative Agent shall have received notice to the
contrary from such Lender prior to the making of such Loan. The Administrative Agent may consult
with legal counsel (who may be counsel for the Borrower), independent accountants and other experts
selected by it, and shall not be liable for any action taken or not taken by it in accordance with
the advice of any such counsel, accountants or experts.

9.05 Delegation of Duties. The Administrative Agent may perform any and all of its duties and
exercise its rights and powers hereunder or under any other Loan Document by or through any one or
more sub-agents appointed by the Administrative Agent. The Administrative Agent and any such
sub-agent may perform any and all of its duties and exercise its rights and powers by or through
their respective Related Parties. The exculpatory provisions of this Article shall apply to any
such sub-agent and to the Related Parties of the Administrative Agent and any such sub-agent, and
shall apply to their respective activities in connection with the syndication of the credit
facilities provided for herein as well as activities as the Administrative Agent.

9.06 Resignation of Administrative Agent. The Administrative Agent may at any time give
notice of its resignation to the Lenders and the Borrower. Upon receipt of any such notice of
resignation, the Required Lenders shall have the right, in consultation with the Borrower, to
appoint a successor, which shall be a bank with an office in the United States, or an Affiliate of
any such bank with an office in the United States. If no such successor shall have been so
appointed by the Required Lenders and shall have accepted such appointment within thirty (30) days
after the retiring Administrative Agent gives notice of its resignation, then the retiring
Administrative Agent may, on behalf of the Lenders, appoint a successor Administrative Agent
meeting the qualifications set forth above; provided that if the Administrative Agent shall notify
the Borrower and the Lenders that no qualifying Person has accepted such appointment, then such
resignation shall nonetheless become effective in accordance with such notice and (1) the retiring
Administrative Agent shall be discharged from its duties and obligations hereunder and under the
other Loan Documents (except that in the case of any collateral security held by the Administrative
Agent on behalf of the Lenders under any of the Loan Documents, the retiring Administrative Agent
shall continue to hold such collateral security until such time as a successor Administrative Agent
is appointed), and (2) all payments, communications and determinations provided to be made by, to
or through the Administrative Agent shall instead be made by or to each Lender directly, until such
time as the Required Lenders appoint a successor Administrative Agent as provided for above in this
Section. Upon the acceptance of a successor’s appointment as Administrative Agent hereunder, such
successor shall succeed to and become vested with all of the rights, powers, privileges and duties
of the retiring (or retired) Administrative Agent, and the retiring Administrative Agent shall be
discharged from all of its duties and obligations hereunder or under the other Loan Documents (if
not already discharged therefrom as provided above in this Section). The fees payable by the
Borrower to a successor Administrative Agent shall be the same as those payable to its predecessor
unless otherwise agreed between the Borrower and such successor. After the retiring Administrative
Agent’s resignation hereunder and under the other Loan Documents, the provisions of this Article
and Section 10.04 shall continue in effect for the benefit of such retiring Administrative
Agent, its sub-agents and their respective Related Parties in respect of any actions taken or
omitted to be taken by any of them while the retiring Administrative Agent was acting as
Administrative Agent.

9.07 Non-Reliance on Administrative Agent and Other Lenders. Each Lender acknowledges that it
has, independently and without reliance upon the Administrative Agent or any other Lender or any of
their Related Parties and based on such documents and information as it has deemed appropriate,
made its own credit analysis and decision to enter into this Agreement. Each Lender also
acknowledges that it will, independently and without reliance upon the Administrative Agent or any
other Lender or any of their Related Parties and based on such documents and information as it
shall from time to time deem appropriate, continue to make its own decisions in taking or not
taking action under or based upon this Agreement, any other Loan Document or any related agreement
or any document furnished hereunder or thereunder.

9.08 No Other Duties, Etc. Anything herein to the contrary notwithstanding, none of the
Bookrunners or Arrangers (if any) listed on the cover page hereof shall have any powers, duties or
responsibilities under this Agreement or any of the other Loan Documents, except in its capacity,
as applicable, as the Administrative Agent or a Lender hereunder.

9.09 Administrative Agent May File Proofs of Claim. In case of the pendency of any proceeding
under any Debtor Relief Law or any other judicial proceeding relative to any Loan Party, the
Administrative Agent (irrespective of whether the principal of any Loan or any other Obligations
shall then be due and payable as herein expressed or by declaration or otherwise and irrespective
of whether the Administrative Agent shall have made any demand on the Borrower) shall be entitled
and empowered, by intervention in such proceeding or otherwise:

(a) to file and prove a claim for the whole amount of the principal and interest owing
and unpaid in respect of the Loans and all other Obligations that are owing and unpaid and
to file such other documents as may be necessary or advisable in order to have the claims of
the Lenders and the Administrative Agent (including any claim for the reasonable
compensation, expenses, disbursements and advances of the Lenders and the Administrative
Agent and their respective agents and counsel and all other amounts due the Lenders and the
Administrative Agent under Sections 2.03(i) and (j), 2.09 and
10.04) allowed in such judicial proceeding; and

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

and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official
in any such judicial proceeding is hereby authorized by each Lender to make such payments to the
Administrative Agent and, in the event that the Administrative Agent shall consent to the making of
such payments directly to the Lenders, to pay to the Administrative Agent any amount due for the
reasonable compensation, expenses, disbursements and advances of the Administrative Agent and its
agents and counsel, and any other amounts due the Administrative Agent under Sections 2.09
and 10.04.

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

9.10 Collateral Matters. Each of the Lenders (including each Lender in its capacity as a
potential Hedge Bank) irrevocably authorize the Administrative Agent, at its option and in its
discretion,

(a) to release any Lien on any property granted to or held by the Administrative Agent
under any Loan Document (i) upon termination of the Aggregate Commitments and payment in
full of all Obligations (other than contingent indemnification obligations), (ii) that is
sold or to be sold as part of or in connection with any sale permitted hereunder or under
any other Loan Document, or (iii) subject to Section 10.01, if approved, authorized
or ratified in writing by the Required Lenders;

(b) to subordinate any Lien on any property granted to or held by the Administrative
Agent under any Loan Document to the holder of any Lien on such property that is permitted
by Section 7.01(i).

Upon request by the Administrative Agent at any time, the Required Lenders will confirm in
writing the Administrative Agent’s authority to release or subordinate its interest in particular
types or items of property. In each case as specified in this Section 9.10, the
Administrative Agent will, at the Borrower’s expense, execute and deliver to the applicable Loan
Party such documents as the Borrower may reasonably request to evidence the release of such item of
Collateral from the assignment and security interest granted under the Collateral Documents or to
subordinate its interest in such item, in such case in accordance with the terms of the Loan
Documents and this Section 9.10.

9.11 Secured Hedge Agreements. Except as otherwise expressly set forth herein or in any
Collateral Document, no Hedge Bank that obtains the benefits of Section 8.03, any
Collateral by virtue of the provisions hereof or of any Collateral by virtue of the provisions
hereof or of any Collateral Document shall have any right to notice of any action or to consent to,
direct or object to any action hereunder or under any other Loan Document or otherwise in respect
of the Collateral (including the release or impairment of any Collateral) other than in its
capacity as a Lender and, in such case, only to the extent expressly provided in the Loan
Documents. Notwithstanding any other provision of this Article IX to the contrary, the
Administrative Agent shall not be required to verify the payment of, or that other satisfactory
arrangements have been made with respect to, Obligations arising under Secured Hedge Agreements
unless the Administrative Agent has received written notice of such Obligations, together with such
supporting documentation as the Administrative Agent may request, from the applicable Hedge Bank.
No Swap Counterparty shall have any rights, remedies or benefits under this Agreement.

ARTICLE X.

MISCELLANEOUS

10.01 Amendments, Etc. No amendment or waiver of any provision of this Agreement or any other
Loan Document, and no consent to any departure by the Borrower or any other Loan Party therefrom,
shall be effective unless in writing signed by the Required Lenders and the Borrower or the
applicable Loan Party, as the case may be, and acknowledged by the Administrative Agent, and each
such waiver or consent shall be effective only in the specific instance and for the specific
purpose for which given; provided, however, that no such amendment, waiver or consent shall:

(a) waive any condition set forth in Section 4.01(a) without the written consent of
each Lender;

(b) extend or increase the Commitment of any Lender (or reinstate any Commitment terminated
pursuant to Section 8.02) without the written consent of such Lender;

(c) postpone any date fixed by this Agreement or any other Loan Document for any payment of
principal, interest, fees or other amounts due to the Lenders (or any of them) hereunder or under
any other Loan Document without the written consent of each Lender directly affected thereby;

(d) reduce the principal of, or the rate of interest specified herein on, any Loan, or
(subject to clause (iv) of the second proviso to this Section 10.01) any fees or
other amounts payable hereunder or under any other Loan Document, or change the manner of
computation of any financial ratio (including any change in any applicable defined term) or any fee
payable hereunder without the written consent of each Lender directly affected thereby; provided,
however, that only the consent of the Required Lenders shall be necessary to amend the definition
of “Default Rate” or to waive any obligation of the Borrower to pay interest at the Default Rate or
to waive any Event of Default under Section 8.01(a) upon payment of the amount that was not
paid when due or within the timeframe otherwise specified for payment in such Section
8.01(a);

(e) change Section 8.03 in a manner that would alter the pro rata sharing of payments
required thereby without the written consent of each Lender;

(f) change the definitions of the terms “Mortgageability Amount” or “Collateral Value Amount”
without the written consent of the Required Lenders;

(g) change any provision of this Section or the definition of “Required Lenders” or any other
provision hereof specifying the number or percentage of the Lenders required to amend, waive or
otherwise modify any rights hereunder or make any determination or grant any consent hereunder
without the written consent of each Lender; or

(h) release, without the written consent of each Lender, all or substantially all of the
Collateral in any transaction or series of related transactions;

and, provided further, that (i) no amendment, waiver or consent shall, unless in writing and signed
by the Administrative Agent in addition to the Lenders required above, affect the rights or duties
of the Administrative Agent under this Agreement or any other Loan Document; and (ii) the Fee
Letter may be amended, or rights or privileges thereunder waived, in a writing executed only by the
parties. Notwithstanding anything to the contrary herein, no Defaulting Lender shall have any
right to approve or disapprove any amendment, waiver or consent hereunder (and any amendment,
waiver or consent which by its terms requires the consent of all Lenders or each affected Lender
may be effected with the consent of the applicable Lenders other than Defaulting Lenders), except
that (x) the Commitment of any Defaulting Lender may not be increased or extended without the
consent of such Lender, and (y) any waiver, amendment or modification requiring the consent of all
Lenders or each affected Lender that by its terms affects any Defaulting Lender more adversely than
other affected Lenders shall require the consent of such Defaulting Lender.

If any Lender does not consent to a proposed amendment, waiver, consent or release with respect to
any Loan Document that requires the consent of each Lender and that has been approved by all
Lenders other than one (1) non-consenting Lender, the Borrower may replace such non-consenting
Lender in accordance with Section 10.13.

10.02 Notices; Effectiveness; Electronic Communication.

(a) Notices Generally. Except in the case of notices and other communications
expressly permitted to be given by telephone (and except as provided in subsection (b)
below), all notices and other communications provided for herein shall be in writing and shall be
delivered by hand or overnight courier service, mailed by certified or registered mail or sent by
telecopier as follows, and all notices and other communications expressly permitted hereunder to be
given by telephone shall be made to the applicable telephone number, as follows:

(i) if to the Borrower or the Administrative Agent, to the address, telecopier number,
electronic mail address or telephone number specified for such Person on Schedule
10.02; and

(ii) if to any other Lender, to the address, telecopier number, electronic mail address
or telephone number specified in its Assignment and Assumption.

Notices and other communications sent by hand or overnight courier service, or mailed by certified
or registered mail, shall be deemed to have been given when received; notices and other
communications sent by telecopier shall be deemed to have been given when sent (except that, if not
given during normal business hours for the recipient, shall be deemed to have been given at the
opening of business on the next business day for the recipient). Notices and other communications
delivered through electronic communications to the extent provided in subsection (b) below,
shall be effective as provided in such subsection (b).

(b) Electronic Communications. Notices and other communications to the Lenders
hereunder may be delivered or furnished by electronic communication (including e-mail and Internet
or intranet websites) pursuant to procedures approved by the Administrative Agent, provided that
the foregoing shall not apply to notices to any Lender pursuant to Article II if such
Lender has notified the Administrative Agent that it is incapable of receiving notices under such
Article by electronic communication. The Administrative Agent or the Borrower may, in its
discretion, agree to accept notices and other communications to it hereunder by electronic
communications pursuant to procedures approved by it, provided that approval of such procedures may
be limited to particular notices or communications.

Unless the Administrative Agent otherwise prescribes, (i) notices and other communications
sent to an e-mail address shall be deemed received upon the sender’s receipt of an acknowledgement
from the intended recipient (such as by the “return receipt requested” function, as available,
return e-mail or other written acknowledgement), provided that if such notice or other
communication is not sent during the normal business hours of the recipient, such notice or
communication shall be deemed to have been sent at the opening of business on the next business day
for the recipient, and (ii) notices or communications posted to an Internet or intranet website
shall be deemed received upon the deemed receipt by the intended recipient at its e-mail address as
described in the foregoing clause (i) of notification that such notice or communication is
available and identifying the website address therefor.

(c) The Platform. THE PLATFORM IS PROVIDED “AS IS” AND “AS AVAILABLE”. THE AGENT
PARTIES (AS DEFINED BELOW) DO NOT WARRANT THE ACCURACY OR COMPLETENESS OF THE BORROWER MATERIALS OR
THE ADEQUACY OF THE PLATFORM, AND EXPRESSLY DISCLAIM LIABILITY FOR ERRORS IN OR OMISSIONS FROM THE
BORROWER MATERIALS. NO WARRANTY OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY, INCLUDING ANY WARRANTY
OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OF THIRD PARTY RIGHTS OR
FREEDOM FROM VIRUSES OR OTHER CODE DEFECTS, IS MADE BY ANY AGENT PARTY IN CONNECTION WITH THE
BORROWER MATERIALS OR THE PLATFORM. In no event shall the Administrative Agent or any of its
Related Parties (collectively, the “Agent Parties”) have any liability to the Borrower, any
Lender, or any other Person for losses, claims, damages, liabilities or expenses of any kind
(whether in tort, contract or otherwise) arising out of the Borrower’s or the Administrative
Agent’s transmission of Borrower Materials through the Internet, except to the extent that such
losses, claims, damages, liabilities or expenses are determined by a court of competent
jurisdiction by a final and nonappealable judgment to have resulted from the gross negligence or
willful misconduct of such Agent Party; provided, however, that in no event shall any Agent Party
have any liability to the Borrower, any Lender or any other Person for indirect, special,
incidental, consequential or punitive damages (as opposed to direct or actual damages).

(d) Change of Address, Etc. Each of the Borrower and the Administrative Agent may
change its address, telecopier or telephone number for notices and other communications hereunder
by notice to the other parties hereto. Each other Lender may change its address, telecopier or
telephone number for notices and other communications hereunder by notice to the Borrower and the
Administrative Agent. In addition, each Lender agrees to notify the Administrative Agent from time
to time to ensure that the Administrative Agent has on record (i) an effective address, contact
name, telephone number, telecopier number and electronic mail address to which notices and other
communications may be sent, and (ii) accurate wire instructions for such Lender. Furthermore, each
Public Lender agrees to cause at least one individual at or on behalf of such Public Lender to at
all times have selected the “Private Side Information” or similar designation on the content
declaration screen of the Platform in order to enable such Public Lender or its delegate, in
accordance with such Public Lender’s compliance procedures and applicable Law, including United
States Federal and state securities Laws, to make reference to the Borrower Materials that are not
made available through the “Public Side Information” portion of the Platform and that may contain
material non-public information with respect to the Borrower or its securities for purposes of
United States Federal or state securities laws.

(e) Reliance by Administrative Agent and Lenders. The Administrative Agent and the
Lenders shall be entitled to rely and act upon any notices (including telephonic Committed Loan
Notices) purportedly given by or on behalf of the Borrower even if (i) such notices were not made
in a manner specified herein, were incomplete or were not preceded or followed by any other form of
notice specified herein, or (ii) the terms thereof, as understood by the recipient, varied from any
confirmation thereof. The Borrower shall indemnify the Administrative Agent, each Lender and the
Related Parties of each of them from all losses, costs, expenses and liabilities resulting from the
reliance by such Person on each notice purportedly given by or on behalf of the Borrower. All
telephonic notices to and other telephonic communications with the Administrative Agent may be
recorded by the Administrative Agent, and each of the parties hereto hereby consents to such
recording.

10.03 No Waiver; Cumulative Remedies; Enforcement. No failure by any Lender or the
Administrative Agent to exercise, and no delay by any such Person in exercising, any right, remedy,
power or privilege hereunder shall operate as a waiver thereof; nor shall any single or partial
exercise of any right, remedy, power or privilege hereunder preclude any other or further exercise
thereof or the exercise of any other right, remedy, power or privilege. The rights, remedies,
powers and privileges herein provided are cumulative and not exclusive of any rights, remedies,
powers and privileges provided by law.

Notwithstanding anything to the contrary contained herein or in any other Loan Document, the
authority to enforce rights and remedies hereunder and under the other Loan Documents against the
Loan Parties or any of them shall be vested exclusively in, and all actions and proceedings at law
in connection with such enforcement shall be instituted and maintained exclusively by, the
Administrative Agent in accordance with Section 8.02 for the benefit of all the Lenders;
provided, however, that the foregoing shall not prohibit (a) the Administrative Agent from
exercising on its own behalf the rights and remedies that inure to its benefit (solely in its
capacity as Administrative Agent) hereunder and under the other Loan Documents, (b) any Lender from
exercising setoff rights in accordance with Section 10.08 (subject to the terms of
Section 2.13), or (c) any Lender from filing proofs of claim or appearing and filing
pleadings on its own behalf during the pendency of a proceeding relative to any Loan Party under
any Debtor Relief Law; and provided, further, that if at any time there is no Person acting as
Administrative Agent hereunder and under the other Loan Documents, then (i) the Required Lenders
shall have the rights otherwise ascribed to the Administrative Agent pursuant to Section
8.02, and (ii) in addition to the matters set forth in clauses (b) and (c) of the
preceding proviso and subject to Section 2.13, any Lender may, with the consent of the
Required Lenders, enforce any rights and remedies available to it and as authorized by the Required
Lenders.

10.04 Expenses; Indemnity; Damage Waiver.

(a) Costs and Expenses. The Borrower shall pay (i) all reasonable out-of-pocket
expenses incurred by the Administrative Agent and its Affiliates (including the reasonable fees,
charges and disbursements of counsel for the Administrative Agent), in connection with the
syndication of the credit facilities provided for herein, the preparation, negotiation, execution,
delivery and administration of this Agreement and the other Loan Documents or any amendments,
modifications or waivers of the provisions hereof or thereof (whether or not the transactions
contemplated hereby or thereby shall be consummated), and (ii)  all out-of-pocket expenses incurred
by the Administrative Agent or any Lender (including the fees, charges and disbursements of any
counsel for the Administrative Agent or any Lender), and shall pay all fees and time charges for
attorneys who may be employees of the Administrative Agent or any Lender, in connection with the
enforcement or protection of its rights (A) in connection with this Agreement and the other Loan
Documents, including its rights under this Section, or (B) in connection with the Loans made
hereunder, including all such out-of-pocket expenses incurred during any workout, restructuring or
negotiations in respect of such Loans.

(b) Indemnification by the Borrower. The Borrower shall indemnify the Administrative
Agent (and any sub-agent thereof) and each Lender, and each Related Party of any of the foregoing
Persons (each such Person being called an “Indemnitee”) against, and hold each Indemnitee
harmless from, any and all losses, claims, damages, liabilities and related expenses (including the
fees, charges and disbursements of any counsel for any Indemnitee), and shall indemnify and hold
harmless each Indemnitee from all fees and time charges and disbursements for attorneys who may be
employees of any Indemnitee, incurred by any Indemnitee or asserted against any Indemnitee by any
third party or by the Borrower or any other Loan Party arising out of, in connection with, or as a
result of (i) the execution or delivery of this Agreement, any other Loan Document or any agreement
or instrument contemplated hereby or thereby, the performance by the parties hereto of their
respective obligations hereunder or thereunder, the consummation of the transactions contemplated
hereby or thereby, or, in the case of the Administrative Agent (and any sub-agent thereof) and its
Related Parties only, the administration of this Agreement and the other Loan Documents (including
in respect of any matters addressed in Section 3.01), (ii) any Loan or the use or proposed
use of the proceeds therefrom, (iii) any actual or alleged presence or release of Hazardous
Materials on or from any property owned or operated by the Borrower or any other Loan Party, or any
Environmental Liability related in any way to the Borrower or any other Loan Party, or (iv) any
actual or prospective claim, litigation, investigation or proceeding relating to any of the
foregoing, whether based on contract, tort or any other theory, whether brought by a third party or
by the Borrower or any other Loan Party, and regardless of whether any Indemnitee is a party
thereto, IN ALL CASES, WHETHER OR NOT CAUSED BY OR ARISING, IN WHOLE OR IN PART, OUT OF THE
COMPARATIVE, CONTRIBUTORY OR SOLE NEGLIGENCE OF THE INDEMNITEE; provided that such indemnity shall
not, as to any Indemnitee, be available to the extent that such losses, claims, damages,
liabilities or related expenses (x) are determined by a court of competent jurisdiction by final
and nonappealable judgment to have resulted from the gross negligence or willful misconduct of such
Indemnitee, or (y) result from a claim brought by the Borrower or any other Loan Party against an
Indemnitee for breach in bad faith of such Indemnitee’s obligations hereunder or under any other
Loan Document, if the Borrower or such other Loan Party has obtained a final and nonappealable
judgment in its favor on such claim as determined by a court of competent jurisdiction.

(c) Reimbursement by Lenders. To the extent that the Borrower for any reason fails to
indefeasibly pay any amount required under subsection (a) or (b) of this Section to be paid
by it to the Administrative Agent (or any sub-agent thereof) or any Related Party of the foregoing,
each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent) or such
Related Party, as the case may be, such Lender’s Applicable Percentage (determined as of the time
that the applicable unreimbursed expense or indemnity payment is sought) of such unpaid amount,
provided that the unreimbursed expense or indemnified loss, claim, damage, liability or related
expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any
such sub-agent) in its capacity as such, or against any Related Party of any of the foregoing
acting for the Administrative Agent (or any such sub-agent) in connection with such capacity. The
obligations of the Lenders under this subsection (c) are subject to the provisions of
Section 2.12(d).

(d) Waiver of Consequential Damages, Etc. To the fullest extent permitted by
applicable law, the Borrower shall not assert, and hereby waives, any claim against any Indemnitee,
on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to
direct or actual damages) arising out of, in connection with, or as a result of, this Agreement,
any other Loan Document or any agreement or instrument contemplated hereby, the transactions
contemplated hereby or thereby, any Loan or the use of the proceeds thereof. No Indemnitee
referred to in subsection (b) above shall be liable for any damages arising from the use by
unintended recipients of any information or other materials distributed to such unintended
recipients by such Indemnitee through telecommunications, electronic or other information
transmission systems in connection with this Agreement or the other Loan Documents or the
transactions contemplated hereby or thereby other than for direct or actual damages resulting from
the gross negligence or willful misconduct of such Indemnitee as determined by a final and
nonappealable judgment of a court of competent jurisdiction.

(e) Payments. All amounts due under this Section shall be payable not later than ten
(10) Business Days after demand therefor.

(f) Survival. The agreements in this Section shall survive the resignation of the
Administrative Agent, the replacement of any Lender, the termination of the Aggregate Commitments
and the repayment, satisfaction or discharge of all the other Obligations.

10.05 Payments Set Aside. To the extent that any payment by or on behalf of the Borrower is
made to the Administrative Agent or any Lender, or the Administrative Agent or any Lender exercises
its right of setoff, and such payment or the proceeds of such setoff or any part thereof is
subsequently invalidated, declared to be fraudulent or preferential, set aside or required
(including pursuant to any settlement entered into by the Administrative Agent or such Lender in
its discretion) to be repaid to a trustee, receiver or any other party, in connection with any
proceeding under any Debtor Relief Law or otherwise, then (a) to the extent of such recovery, the
obligation or part thereof originally intended to be satisfied shall be revived and continued in
full force and effect as if such payment had not been made or such setoff had not occurred, and (b)
each Lender severally agrees to pay to the Administrative Agent upon demand its applicable share
(without duplication) of any amount so recovered from or repaid by the Administrative Agent, plus
interest thereon from the date of such demand to the date such payment is made at a rate per annum
equal to the Federal Funds Rate from time to time in effect. The obligations of the Lenders under
clause (b) of the preceding sentence shall survive the payment in full of the Obligations
and the termination of this Agreement.

10.06 Successors and Assigns.

(a) Successors and Assigns Generally. The provisions of this Agreement shall be
binding upon and inure to the benefit of the parties hereto and their respective successors and
assigns permitted hereby, except that neither the Borrower nor any other Loan Party may assign or
otherwise transfer any of its rights or obligations hereunder without the prior written consent of
the Administrative Agent and each Lender and no Lender may assign or otherwise transfer any of its
rights or obligations hereunder except (i) to an assignee in accordance with the provisions of
subsection (b) of this Section, (ii) by way of participation in accordance with the
provisions of subsection (d) of this Section, or (iii) by way of pledge or assignment of a
security interest subject to the restrictions of subsection (f) of this Section (and any
other attempted assignment or transfer by any party hereto shall be null and void). Nothing in
this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the
parties hereto, their respective successors and assigns permitted hereby, Participants to the
extent provided in subsection (d) of this Section and, to the extent expressly contemplated
hereby, the Related Parties of each of the Administrative Agent and the Lenders) any legal or
equitable right, remedy or claim under or by reason of this Agreement.

(b) Assignments by Lenders. Any Lender may at any time assign to one or more
assignees all or a portion of its rights and obligations under this Agreement (including all or a
portion of its Commitment and the Loans at the time owing to it); provided that any such assignment
shall be subject to the following conditions:

(i) Minimum Amounts.

(A) in the case of an assignment of the entire remaining amount of the
assigning Lender’s Commitment and the Loans at the time owing to it or in the case
of an assignment to a Lender, an Affiliate of a Lender or an Approved Fund, no
minimum amount need be assigned; and

(B) in any case not described in subsection (b)(i)(A) of this Section,
the aggregate amount of the Commitment (which for this purpose includes Loans
outstanding thereunder) or, if the Commitment is not then in effect, the principal
outstanding balance of the Loans of the assigning Lender subject to each such
assignment, determined as of the date the Assignment and Assumption with respect to
such assignment is delivered to the Administrative Agent or, if “Trade Date” is
specified in the Assignment and Assumption, as of the Trade Date, shall not be less
than $5,000,000.00, unless each of the Administrative Agent and, so long as no Event
of Default has occurred and is continuing, the Borrower otherwise consents (each
such consent not to be unreasonably withheld or delayed); provided, however, that
concurrent assignments to members of an Assignee Group and concurrent assignments
from members of an Assignee Group to a single Eligible Assignee (or to an Eligible
Assignee and members of its Assignee Group) will be treated as a single assignment
for purposes of determining whether such minimum amount has been met.

(ii) Proportionate Amounts. Each partial assignment shall be made as an
assignment of a proportionate part of all the assigning Lender’s rights and obligations
under this Agreement with respect to the Loans or the Commitment assigned;

(iii) Required Consents. No consent shall be required for any assignment
except to the extent required by subsection (b)(i)(B) of this Section and, in
addition:

(A) the consent of the Borrower (such consent not to be unreasonably withheld)
shall be required unless (1) an Event of Default has occurred and is continuing at
the time of such assignment, or (2) such assignment is to a Lender, an Affiliate of
a Lender or an Approved Fund; provided that the Borrower shall be deemed
to have consented to any such assignment unless it shall object thereto by written
notice to the Administrative Agent within five (5) Business Days after having
received notice thereof; and

(B) the consent of the Administrative Agent (such consent not to be
unreasonably withheld or delayed) shall be required if such assignment is to a
Person that is not a Lender, an Affiliate of such Lender or an Approved Fund with
respect to such Lender.

(iv) Assignment and Assumption. The parties to each assignment shall execute
and deliver to the Administrative Agent an Assignment and Assumption, together with a
processing and recordation fee in the amount of $2,500.00; provided, however, that the
Administrative Agent may, in its sole discretion, elect to waive such processing and
recordation fee in the case of any assignment.

(v) No Assignment to Certain Persons. No such assignment shall be made (A) to
the Borrower or any of the Borrower’s Affiliates or BBP Subsidiaries, or (B) to any
Defaulting Lender or any of its Subsidiaries, or any Person who, upon becoming a Lender
hereunder, would constitute any of the foregoing Persons described in this clause
(B), or (C) to a natural person.

(vi) Certain Additional Payments. In connection with any assignment of rights
and obligations of any Defaulting Lender hereunder, no such assignment shall be effective
unless and until, in addition to the other conditions thereto set forth herein, the parties
to the assignment shall make such additional payments to the Administrative Agent in an
aggregate amount sufficient, upon distribution thereof as appropriate (which may be outright
payment, purchases by the assignee of participations or subparticipations, or other
compensating actions, including funding, with the consent of the Borrower and the
Administrative Agent, the applicable pro rata share of Loans previously requested but not
funded by the Defaulting Lender, to each of which the applicable assignee and assignor
hereby irrevocably consent), to pay and satisfy in full all payment liabilities then owed by
such Defaulting Lender to the Administrative Agent or any Lender hereunder (and interest
accrued thereon) in accordance with its Applicable Percentage. Notwithstanding the
foregoing, in the event that any assignment of rights and obligations of any Defaulting
Lender hereunder shall become effective under applicable Law without compliance with the
provisions of this subsection (vi), then the assignee of such interest shall be
deemed to be a Defaulting Lender for all purposes of this Agreement until such compliance
occurs.

Subject to acceptance and recording thereof by the Administrative Agent pursuant to subsection
(c) of this Section, from and after the effective date specified in each Assignment and
Assumption, the assignee thereunder shall be a party to this Agreement and, to the extent of the
interest assigned by such Assignment and Assumption, have the rights and obligations of a Lender
under this Agreement, and the assigning Lender thereunder shall, to the extent of the interest
assigned by such Assignment and Assumption, be released from its obligations under this Agreement
(and, in the case of an Assignment and Assumption covering all of the assigning Lender’s rights and
obligations under this Agreement, such Lender shall cease to be a party hereto) but shall continue
to be entitled to the benefits of Sections 3.01 and 10.04 with respect to facts and
circumstances occurring prior to the effective date of such assignment. Upon request, the Borrower
(at its expense) shall execute and deliver a Note to the assignee Lender. Any assignment or
transfer by a Lender of rights or obligations under this Agreement that does not comply with this
subsection shall be treated for purposes of this Agreement as a sale by such Lender of a
participation in such rights and obligations in accordance with subsection (d) of this
Section.

(c) Register. The Administrative Agent, acting solely for this purpose as an agent of
the Borrower (and such agency being solely for tax purposes), shall maintain at the Administrative
Agent’s Office a copy of each Assignment and Assumption delivered to it and a register for the
recordation of the names and addresses of the Lenders, and the Commitments of, and principal
amounts of the Loans owing to, each Lender pursuant to the terms hereof from time to time (the
"Register”). The entries in the Register shall be conclusive, and the Borrower, the
Administrative Agent and the Lenders may treat each Person whose name is recorded in the Register
pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement,
notwithstanding notice to the contrary. In addition, the Administrative Agent shall maintain on
the Register information regarding the designation, and revocation of designation, of any Lender as
a Defaulting Lender. The Register shall be available for inspection by the Borrower and any
Lender, at any reasonable time and from time to time upon reasonable prior notice.

(d) Participations. Any Lender may at any time, without the consent of, or notice to,
the Borrower or the Administrative Agent, sell participations to any Person (other than a natural
person, a Defaulting Lender or the Borrower or any of the Borrower’s Affiliates or BBP
Subsidiaries) (each, a “Participant”) in all or a portion of such Lender’s rights and/or
obligations under this Agreement (including all or a portion of its Commitment and/or the Loans
owing to it); provided that (i) such Lender’s obligations under this Agreement shall remain
unchanged, (ii) such Lender shall remain solely responsible to the other parties hereto for the
performance of such obligations, and (iii) the Borrower, the Administrative Agent and the Lenders
shall continue to deal solely and directly with such Lender in connection with such Lender’s rights
and obligations under this Agreement.

Any agreement or instrument pursuant to which a Lender sells such a participation shall
provide that such Lender shall retain the sole right to enforce this Agreement and to approve any
amendment, modification or waiver of any provision of this Agreement; provided that such agreement
or instrument may provide that such Lender will not, without the consent of the Participant, agree
to any amendment, waiver or other modification described in the first proviso to Section
10.01 that affects such Participant. Subject to subsection (e) of this Section, the
Borrower agrees that each Participant shall be entitled to the benefits of Section 3.01 to
the same extent as if it were a Lender and had acquired its interest by assignment pursuant to
subsection (b) of this Section. To the extent permitted by law, each Participant also
shall be entitled to the benefits of Section 10.08 as though it were a Lender, provided
such Participant agrees to be subject to Section 2.13 as though it were a Lender.

(e) Limitations upon Participant Rights. A Participant shall not be entitled to
receive any greater payment under Section 3.01 than the applicable Lender would have been
entitled to receive with respect to the participation sold to such Participant, unless the sale of
the participation to such Participant is made with the Borrower’s prior written consent. A
Participant that would be a Foreign Lender if it were a Lender shall not be entitled to the
benefits of Section 3.01 unless the Borrower is notified of the participation sold to such
Participant and such Participant agrees, for the benefit of the Borrower, to comply with
Section 3.01(e) as though it were a Lender.

(f) Certain Pledges. Any Lender may at any time pledge or assign a security interest
in all or any portion of its rights under this Agreement (including under its Note, if any) to
secure obligations of such Lender, including any pledge or assignment to secure obligations to a
Federal Reserve Bank; provided that no such pledge or assignment shall release such Lender from any
of its obligations hereunder or substitute any such pledgee or assignee for such Lender as a party
hereto.

10.07 Treatment of Certain Information; Confidentiality. Each of the Administrative Agent and
the Lenders agrees to maintain the confidentiality of the Information (as defined below), except
that Information may be disclosed (a) to its Affiliates and to its and its Affiliates’ respective
partners, directors, officers, employees, agents, trustees, advisors and representatives (it being
understood that the Persons to whom such disclosure is made will be informed of the confidential
nature of such Information and instructed to keep such Information confidential), (b) to the extent
requested by any regulatory authority purporting to have jurisdiction over it (including any
self-regulatory authority, such as the National Association of Insurance Commissioners), (c) to the
extent required by applicable laws or regulations or by any subpoena or similar legal process, (d)
to any other party hereto, (e) in connection with the exercise of any remedies hereunder or under
any other Loan Document or any action or proceeding relating to this Agreement or any other Loan
Document or the enforcement of rights hereunder or thereunder, (f) subject to an agreement
containing provisions substantially the same as those of this Section, to (i) any assignee of or
Participant in, or any prospective assignee of or Participant in, any of its rights or obligations
under this Agreement or any Eligible Assignee invited to be a Lender pursuant to Section
2.15(c), or (ii) any actual or prospective counterparty (or its advisors) to any swap or
derivative transaction relating to the Borrower and its obligations, (g) with the consent of the
Borrower, or (h) to the extent such Information (i) becomes publicly available other than as a
result of a breach of this Section, or (ii) becomes available to the Administrative Agent, any
Lender, or any of their respective Affiliates on a nonconfidential basis from a source other than
the Borrower. For purposes of this Section, “Information” means all information received from the
Borrower or any BBP Subsidiary relating to the Borrower or any BBP Subsidiary or any of their
respective businesses, other than any such information that is available to the Administrative
Agent or any Lender on a nonconfidential basis prior to disclosure by the Borrower or any BBP
Subsidiary, provided that, in the case of information received from the Borrower or any BBP
Subsidiary after the date hereof, such information is clearly identified at the time of delivery as
confidential. Any Person required to maintain the confidentiality of Information as provided in
this Section shall be considered to have complied with its obligation to do so if such Person has
exercised the same degree of care to maintain the confidentiality of such Information as such
Person would accord to its own confidential information.

Each of the Administrative Agent and the Lenders acknowledges that (x) the Information may
include material non-public information concerning the Borrower or a BBP Subsidiary, as the case
may be, (y) it has developed compliance procedures regarding the use of material non-public
information, and (z) it will handle such material non-public information in accordance with
applicable Law, including United States Federal and state securities Laws.

10.08 Right of Setoff. If an Event of Default shall have occurred and be continuing, each
Lender and each of their respective Affiliates is hereby authorized at any time and from time to
time, after obtaining the prior written consent of the Administrative Agent, to the fullest extent
permitted by applicable law, to set off and apply any and all deposits (general or special, time or
demand, provisional or final, in whatever currency) at any time held and other obligations (in
whatever currency) at any time owing by such Lender or any such Affiliate to or for the credit or
the account of the Borrower or any other Loan Party against any and all of the obligations of the
Borrower or such Loan Party now or hereafter existing under this Agreement or any other Loan
Document to such Lender, irrespective of whether or not such Lender shall have made any demand
under this Agreement or any other Loan Document and although such obligations of the Borrower or
such Loan Party may be contingent or unmatured or are owed to a branch or office of such Lender
different from the branch or office holding such deposit or obligated on such indebtedness;
provided, that in the event that any Defaulting Lender shall exercise any such right of setoff, (x)
all amounts so set off shall be paid over immediately to the Administrative Agent for further
application in accordance with the provisions of Section 2.18 and, pending such payment,
shall be segregated by such Defaulting Lender from its other funds and deemed held in trust for the
benefit of the Administrative Agent and the Lenders, and (y) the Defaulting Lender shall provide
promptly to the Administrative Agent a statement describing in reasonable detail the Obligations
owing to such Defaulting Lender as to which it exercised such right of setoff. The rights of each
Lender and their respective Affiliates under this Section are in addition to other rights and
remedies (including other rights of setoff) that such Lender or their respective Affiliates may
have. Each Lender agrees to notify the Borrower and the Administrative Agent promptly after any
such setoff and application, provided that the failure to give such notice shall not affect the
validity of such setoff and application.

10.09 Interest Rate Limitation. Notwithstanding anything to the contrary contained in any
Loan Document, the interest paid or agreed to be paid under the Loan Documents shall not exceed the
maximum rate of non-usurious interest permitted by applicable Law (the “Maximum Rate”). If
the Administrative Agent or any Lender shall receive interest in an amount that exceeds the Maximum
Rate, the excess interest shall be applied to the principal of the Loans or, if it exceeds such
unpaid principal, refunded to the Borrower. In determining whether the interest contracted for,
charged, or received by the Administrative Agent or a Lender exceeds the Maximum Rate, such Person
may, to the extent permitted by applicable Law, (a) characterize any payment that is not principal
as an expense, fee, or premium rather than interest, (b) exclude voluntary prepayments and the
effects thereof, and (c) amortize, prorate, allocate and spread in equal or unequal parts the total
amount of interest throughout the contemplated term of the Obligations hereunder.

10.10 Counterparts; Integration; Effectiveness. This Agreement may be executed in
counterparts (and by different parties hereto in different counterparts), each of which shall
constitute an original, but all of which when taken together shall constitute a single contract.
This Agreement and the other Loan Documents constitute the entire contract among the parties
relating to the subject matter hereof and supersede any and all previous agreements and
understandings, oral or written, relating to the subject matter hereof. Except as provided in
Section 4.01, this Agreement shall become effective when it shall have been executed by the
Administrative Agent and when the Administrative Agent shall have received counterparts hereof
that, when taken together, bear the signatures of each of the other parties hereto. Delivery of an
executed counterpart of a signature page of this Agreement by telecopy or other electronic imaging
means shall be effective as delivery of a manually executed counterpart of this Agreement.

10.11 Survival of Representations and Warranties. All representations and warranties made
hereunder and in any other Loan Document or other document delivered pursuant hereto or thereto or
in connection herewith or therewith shall survive the execution and delivery hereof and thereof.
Such representations and warranties have been or will be relied upon by the Administrative Agent
and each Lender, regardless of any investigation made by the Administrative Agent or any Lender or
on their behalf and notwithstanding that the Administrative Agent or any Lender may have had notice
or knowledge of any Default at the time of any Credit Extension, and shall continue in full force
and effect as long as any Loan or any other Obligation hereunder shall remain unpaid or
unsatisfied.

10.12 Severability. If any provision of this Agreement or the other Loan Documents is held to
be illegal, invalid or unenforceable, (a) the legality, validity and enforceability of the
remaining provisions of this Agreement and the other Loan Documents shall not be affected or
impaired thereby, and (b) the parties shall endeavor in good faith negotiations to replace the
illegal, invalid or unenforceable provisions with valid provisions the economic effect of which
comes as close as possible to that of the illegal, invalid or unenforceable provisions. The
invalidity of a provision in a particular jurisdiction shall not invalidate or render unenforceable
such provision in any other jurisdiction. Without limiting the foregoing provisions of this
Section 10.12, if and to the extent that the enforceability of any provisions in this
Agreement relating to Defaulting Lenders shall be limited by Debtor Relief Laws, as determined in
good faith by the Administrative Agent, then such provisions shall be deemed to be in effect only
to the extent not so limited.

10.13 Replacement of Lenders. If the Borrower is required to pay any additional amount to any
Lender or any Governmental Authority for the account of any Lender pursuant to Section
3.01, if any Lender is a Defaulting Lender or if any other circumstance exists hereunder that
gives the Borrower the right to replace a Lender as a party hereto, then the Borrower may, at its
sole expense and effort, upon notice to such Lender and the Administrative Agent, require such
Lender to assign and delegate, without recourse (in accordance with and subject to the restrictions
contained in, and consents required by, Section 10.06), all of its interests, rights and
obligations under this Agreement and the related Loan Documents to an assignee that shall assume
such obligations (which assignee may be another Lender, if a Lender accepts such assignment),
provided that:

(a) the Borrower shall have paid to the Administrative Agent the assignment fee specified in
Section 10.06(b);

(b) such Lender shall have received payment of an amount equal to the outstanding principal of
its Loans, accrued interest thereon, accrued fees and all other amounts payable to it hereunder and
under the other Loan Documents from the assignee (to the extent of such outstanding principal and
accrued interest and fees) or the Borrower (in the case of all other amounts);

(c) in the case of any payments required to be made pursuant to Section 3.01, such
assignment will result in a reduction in such compensation or payments thereafter; and

(d) such assignment does not conflict with applicable Laws.

A Lender shall not be required to make any such assignment or delegation if, prior thereto, as
a result of a waiver by such Lender or otherwise, the circumstances entitling the Borrower to
require such assignment and delegation cease to apply.

10.14 Governing Law; Jurisdiction; Etc.

(a) GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE
WITH, THE LAW OF THE STATE OF ILLINOIS.

(b) SUBMISSION TO JURISDICTION. THE BORROWER AND EACH OTHER LOAN PARTY IRREVOCABLY
AND UNCONDITIONALLY SUBMITS, FOR ITSELF AND ITS PROPERTY, TO THE NONEXCLUSIVE JURISDICTION OF ANY
ILLINOIS STATE OR FEDERAL COURT SITTING IN THE CITY OF CHICAGO IN ANY ACTION OR PROCEEDING ARISING
OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT, OR FOR RECOGNITION OR ENFORCEMENT
OF ANY JUDGMENT, AND EACH OF THE PARTIES HERETO IRREVOCABLY AND UNCONDITIONALLY AGREES THAT ALL
CLAIMS IN RESPECT OF ANY SUCH ACTION OR PROCEEDING MAY BE HEARD AND DETERMINED IN SUCH COURTS.
EACH OF THE PARTIES HERETO AGREES THAT A FINAL JUDGMENT IN ANY SUCH ACTION OR PROCEEDING SHALL BE
CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY OTHER
MANNER PROVIDED BY LAW. NOTHING IN THIS AGREEMENT OR IN ANY OTHER LOAN DOCUMENT SHALL AFFECT ANY
RIGHT THAT THE ADMINISTRATIVE AGENT OR ANY LENDER MAY OTHERWISE HAVE TO BRING ANY ACTION OR
PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT AGAINST THE BORROWER OR ANY OTHER
LOAN PARTY OR ITS PROPERTIES IN THE COURTS OF ANY JURISDICTION.

(c) WAIVER OF VENUE. THE BORROWER AND EACH OTHER LOAN PARTY IRREVOCABLY AND
UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY OBJECTION THAT IT
MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY ACTION OR PROCEEDING ARISING OUT OF OR
RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT IN ANY COURT REFERRED TO IN
PARAGRAPH (b) OF THIS SECTION. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES, TO
THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, THE DEFENSE OF AN INCONVENIENT FORUM TO THE
MAINTENANCE OF SUCH ACTION OR PROCEEDING IN ANY SUCH COURT.

(d) SERVICE OF PROCESS. EACH PARTY HERETO IRREVOCABLY CONSENTS TO SERVICE OF PROCESS
IN THE MANNER PROVIDED FOR NOTICES IN SECTION 10.02. NOTHING IN THIS AGREEMENT WILL AFFECT
THE RIGHT OF ANY PARTY HERETO TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY APPLICABLE LAW.

10.15 Waiver of Jury Trial. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST
EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL
PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN
DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY
OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY
OTHER PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PERSON WOULD NOT, IN THE
EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE
OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS
BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION.

10.16 No Advisory or Fiduciary Responsibility. In connection with all aspects of each
transaction contemplated hereby (including in connection with any amendment, waiver or other
modification hereof or of any other Loan Document), the Borrower and each other Loan Party
acknowledges and agrees, and acknowledges its Affiliates’ understanding, that: (a) (i) the
arranging and other services regarding this Agreement provided by the Administrative Agent are
arm’s-length commercial transactions between the Borrower, each other Loan Party and their
respective Affiliates, on the one hand, and the Administrative Agent, on the other hand, (ii) each
of the Borrower and the other Loan Parties has consulted its own legal, accounting, regulatory and
tax advisors to the extent it has deemed appropriate, and (iii) the Borrower and each other Loan
Party is capable of evaluating, and understands and accepts, the terms, risks and conditions of the
transactions contemplated hereby and by the other Loan Documents; (b) (i) the Administrative Agent
is and has been acting solely as a principal and, except as expressly agreed in writing by the
relevant parties, has not been, is not, and will not be acting as an advisor, agent or fiduciary
for the Borrower, any other Loan Party or any of their respective Affiliates, or any other Person,
and (ii) the Administrative Agent has no any obligation to the Borrower, any other Loan Party or
any of their respective Affiliates with respect to the transactions contemplated hereby except
those obligations expressly set forth herein and in the other Loan Documents; and (c) the
Administrative Agent and its Affiliates may be engaged in a broad range of transactions that
involve interests that differ from those of the Borrower, the other Loan Parties and their
respective Affiliates, and the Administrative Agent has no obligation to disclose any of such
interests to the Borrower, any other Loan Party or any of their respective Affiliates. To the
fullest extent permitted by law, each of the Borrower and the other Loan Parties hereby waives and
releases any claims that it may have against the Administrative Agent with respect to any breach or
alleged breach of agency or fiduciary duty in connection with any aspect of any transaction
contemplated hereby.

10.17 Electronic Execution of Assignments and Certain Other Documents. The words “execution”,
“signed”, “signature” and words of like import in any Assignment and Assumption or in any amendment
or other modification hereof (including waivers and consents) shall be deemed to include electronic
signatures or the keeping of records in electronic form, each of which shall be of the same legal
effect, validity or enforceability as a manually executed signature or the use of a paper-based
recordkeeping system, as the case may be, to the extent and as provided for in any applicable law,
including the Federal Electronic Signatures in Global and National Commerce Act, or any state laws
based on the Uniform Electronic Transactions Act.

10.18 USA PATRIOT Act. Each Lender that is subject to the Act (as hereinafter defined) and
the Administrative Agent (for itself and not on behalf of any Lender) hereby notifies the Borrower
that pursuant to the requirements of the USA PATRIOT Act (Title III of Pub. L. 107-56 (signed into
law October 26, 2001)) (the “Act”), it is required to obtain, verify and record information
that identifies the Borrower, which information includes the name and address of the Borrower and
other information that will allow such Lender or the Administrative Agent, as applicable, to
identify the Borrower in accordance with the Act. The Borrower shall, promptly following a request
by the Administrative Agent or any Lender, provide all documentation and other information that the
Administrative Agent or such Lender requests in order to comply with its ongoing obligations under
applicable “know your customer” and anti-money laundering rules and regulations, including the Act.

10.19 Entire Agreement. THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS REPRESENT THE FINAL
AGREEMENT AMONG THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR
SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS AMONG THE
PARTIES.

10.20 Rights of Contribution. Each Borrower hereby agrees as among themselves that, in connection
with payments made hereunder, each Borrower shall have a right of contribution from each other
Borrower in accordance with applicable Law. Such contribution rights shall be subordinate and
subject in right of payment to the Obligations until such time as the Obligations have been
irrevocably paid in full and the commitments relating thereto shall have expired or been
terminated, and none of the Borrowers shall exercise any such contribution rights until the
Obligations have been irrevocably paid in full and the commitments relating thereto shall have
expired or been terminated.

10.21 Joint and Several Liability. With respect to the definition of the “Borrower” hereunder or
in any other Loan Document, except where the context otherwise provides, (a) any representations
contained herein or in any other Loan Documents of the Borrower shall be applicable to each
Borrower, (b) any affirmative covenants contained herein or in any other Loan Documents shall be
deemed to be covenants of each Borrower and shall require performance by all Borrowers, (c) any
negative covenants contained herein or in any other Loan Documents shall be deemed to be covenants
of each Borrower, and shall be breached if any Borrower fails to comply therewith, (d) the
occurrence of any Event of Default with respect to any Borrower shall be deemed to be an Event of
Default hereunder or thereunder, and (e) any Obligations of Borrower (i) shall be deemed to include
any Obligations of the Borrower, or any Obligations of any one of them, and (ii) shall be joint and
several. Each Borrower recognizes that credit available to it under the Loan is in excess of and
on better terms than it otherwise could obtain on and for its own account and that one of the
reasons therefor is its joining in the credit facility contemplated herein with all other
Borrowers. Consequently, each Borrower, jointly and severally, hereby assumes and agrees fully,
faithfully and punctually to discharge all Obligations of all of the Borrowers.

[SIGNATURE PAGES FOLLOW]

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

	 	 	BORROWER:

	 	 	GRUBB & ELLIS HEALTHCARE REIT II HOLDINGS, LP,

	 	 	a            Delaware limited partnership

	 	 	By: GRUBB & ELLIS HEALTHCARE REIT II, INC.,

	 	 	a            Maryland corporation, its general partner

By: /s/ Shannon K S Johnson

Name: Shannon K S Johnson

Title: Chief Financial Officer

G&E HC REIT II LACOMBE MOB, 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/ Shannon K S Johnson

Name: Shannon K S Johnson

Title: Chief Financial Officer

G&E HC REIT II PARKWAY MEDICAL CENTER, 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/ Shannon K S Johnson

Name: Shannon K S Johnson

Title: Chief Financial Officer

[SIGNATURES CONTINUE ON FOLLOWING PAGE]

ADMINISTRATIVE AGENT

AND A LENDER:

BANK OF AMERICA, N.A.,

as Administrative Agent and as a Lender

By: /s/ Christopher A. Thangaraj

Name: Christopher A. Thangaraj

Title: Vice President

2EX-10.3

GUARANTY AGREEMENT

THIS GUARANTY AGREEMENT (this “Guaranty”) is made as of the 19th day of
July, 2010, by GRUBB & ELLIS HEALTHCARE REIT II, INC., a Maryland corporation (singly or
collectively, jointly and severally, “Guarantor”), in favor of BANK OF AMERICA, N.A., a
national banking association, as the Administrative Agent (as hereinafter defined).

PRELIMINARY STATEMENTS

Bank of America, N.A., a national banking association, as agent under a certain Credit
Agreement (as may be modified, supplemented, restated, extended or renewed and in effect from time
to time, the “Credit Agreement”), and other lending institutions which become parties to
the Credit Agreement (Bank of America, N.A. and the other lending institutions which become parties
to the Credit Agreement are collectively referred to as the “Lenders” and individually as a
"Lender”; and Bank of America, N.A., in such capacity as agent for the Lenders, together
with its successors and assigns, the “Administrative Agent”), and Grubb & Ellis
Healthcare REIT II Holdings, LP, a Delaware limited partnership, G&E HC REIT II Lacombe MOB,
LLC, a Delaware limited liability company, and G&E HC REIT II Parkway Medical Center, LLC, a
Delaware limited liability company (together with each other party which becomes a borrower under
the Credit Agreement, individually and collectively, the "Borrower”), have
entered into, are entering into concurrently herewith, or contemplate entering into, the Credit
Agreement, which Credit Agreement sets forth the terms and conditions of a loan (the
"Loan”) to the Borrower for acquisition of certain medical office buildings, as more
particularly described in the Credit Agreement and identified therein as the Borrowing Base
Properties.

A condition precedent to the Administrative Agent’s and the Lenders’ obligation to make the
Loan to the Borrower is, and the Administrative Agent and the Lenders are in making the Loan are
relying upon, the Guarantor’s execution and delivery to the Administrative Agent of this Guaranty.

The Loan is, or will be, evidenced by one (1) or more Promissory Notes of even date with the
Credit Agreement, executed by the Borrower and payable to the order of the Lenders in the aggregate
principal face amount of $25,000,000.00 (such notes, as may hereafter be renewed, extended,
supplemented, increased or modified and in effect from time to time, and all other notes given in
substitution therefor, or in modification, renewal or extension thereof, in whole or in part, is
herein collectively referred to as the “Note”).

The Borrower may from time to time enter into one or more “Swap Contracts” as defined in the
Credit Agreement.

Any capitalized term used and not defined in this Guaranty shall have the meaning given to
such term in the Credit Agreement. This Guaranty is one of the Loan Documents described in the
Credit Agreement.

STATEMENT OF AGREEMENTS

For good and valuable consideration, the receipt and adequacy of which are hereby
acknowledged, and as a material inducement to the Administrative Agent and the Lenders to extend
credit to the Borrower, the Guarantor hereby guarantees to the Administrative Agent and the Lenders
the prompt and full payment of the indebtedness and obligations described below in this Guaranty
(collectively called the “Guaranteed Obligations”), this Guaranty being upon the following
terms and conditions:

1. Guaranty of Payment. The Guarantor hereby absolutely, unconditionally and irrevocably
guarantees to the Administrative Agent and the Lenders the punctual payment when due, whether by
lapse of time, by acceleration of maturity, or otherwise, of all principal, interest (including
interest accruing after maturity and after the commencement of any bankruptcy or insolvency
proceeding by or against the Borrower, whether or not allowed in such proceeding), fees, late
charges, costs, expenses, indemnification indebtedness and other sums of money now or hereafter due
and owing, or which the Borrower is obligated to pay, pursuant to (a) the terms of the Note, the
Credit Agreement, the Mortgage, the Environmental Agreement, any application, agreement, note or
other document executed and delivered in connection with any Swap Contract or any other Loan
Documents, and any indemnifications contained in the Loan Documents, now or hereafter existing, and
(b) all renewals, extensions, refinancings, modifications, supplements or amendments of such
indebtedness, or any of the Loan Documents, or any part thereof (the indebtedness described in
clauses (a) and (b) above in this Section 1 is herein collectively called the
"Indebtedness”). This Guaranty covers the Indebtedness presently outstanding and the
Indebtedness arising subsequent to the date hereof, including all amounts advanced by the
Administrative Agent or the Lenders in stages or installments. The guaranty of the Guarantor as
set forth in this Section 1 is a continuing guaranty of payment and not a guaranty of
collection.

2. Guaranty of Performance. The Guarantor hereby unconditionally and irrevocably
guarantees to the Administrative Agent and the Lenders the complete performance when due of all
other Obligations of the Borrower under all of the Loan Documents, including, without limiting the
generality of the foregoing, all such Obligations of the Borrower to:

(a) Make all deposits required under the terms of the Credit Agreement and the other Loan
Documents, as and when required;

(b) Promptly pay in full and discharge all property assessments prior to the day upon which
the same shall become delinquent (subject to the terms of the Mortgage regarding permitted contests
of such property assessments);

(c) Pay, at or before the times required by the Loan Documents, the premiums on all policies
of insurance required to be maintained under the terms of the Loan Documents; and

(d) Duly and punctually perform and observe all other terms, covenants and conditions of the
Note, the Credit Agreement, the Mortgage, the Environmental Agreement, all other Loan Documents,
and any Swap Contract.

The foregoing obligations guaranteed under this Section 2 are defined as the
"Guaranteed Performance Obligations”. The Guaranteed Performance Obligations are included
as part of the Guaranteed Obligations for all purposes of this Guaranty.

3. Intentionally Omitted.

4. Primary Liability of Guarantor.

(a) This Guaranty is an absolute, irrevocable and unconditional guaranty of payment and
performance. The Guarantor shall be liable for the payment and performance of the Guaranteed
Obligations as a primary obligor. This Guaranty shall be effective as a waiver of, and the
Guarantor hereby expressly waives, any and all rights to which the Guarantor may otherwise have
been entitled under any suretyship laws in effect from time to time, including any right or
privilege, whether existing under statute, at law or in equity, to require the Administrative Agent
to take prior recourse or proceedings against any collateral, security or Person (hereinafter
defined) whatsoever.

(b) The Guarantor hereby agrees that in the event of (i) default by any Borrower in payment or
performance of the Guaranteed Obligations, or any part thereof, when such indebtedness or
performance becomes due, either by its terms or as the result of the exercise of any power to
accelerate; (ii) the failure of the Guarantor to perform completely and satisfactorily the
covenants, terms and conditions of any of the Guaranteed Obligations; (iii) the dissolution or
insolvency of the Guarantor; (iv) the inability of the Guarantor to pay debts as they mature; (v)
an assignment by the Guarantor for the benefit of creditors; (vi) the institution of any proceeding
by or against the Guarantor in bankruptcy or for a reorganization or an arrangement with creditors,
or for the appointment of a receiver, trustee or custodian for any of them or for any of their
respective properties; (vii) the determination by the Administrative Agent in good faith that a
material adverse change has occurred in the financial condition of the Guarantor; (viii) the entry
of a judgment against the Guarantor which exceeds $5,000,000.00 and remains unsatisfied for more
than thirty (30) days after being entered; (ix) a writ or order of attachment, levy or garnishment
is issued against the Guarantor; (x) the falsity in any material respect of, or any material
omission in, any representation made to the Administrative Agent or any Lender by the Guarantor;
(xi) any transfer of assets of the Guarantor which would have a Material Adverse Effect on
Guarantor or cause Guarantor to not be in compliance with the terms and provisions set forth in
Section 16 of this Guaranty, without the Administrative Agent’s prior consent; (xii) a
default by the Guarantor under any unsecured or recourse debt which individually or in the
aggregate exceeds $5,000,000.00; (xiii) a default of the Guarantor under this Guaranty including
specifically, but without limitation, under Section 16 or Section 20 of this
Guaranty; or (xiv) the occurrence of an Event of Default under any other Loan Document
(individually and collectively an “Event of Default”); then upon the occurrence of such
Event of Default, the Guaranteed Obligations, for purposes of this Guaranty, shall be deemed
immediately due and payable at the election of the Administrative Agent, and the Guarantor shall,
on demand and without presentment, protest, notice of protest, further notice of nonpayment or of
dishonor, default or nonperformance, or notice of acceleration or of intent to accelerate, or any
other notice whatsoever, without any notice having been given to the Guarantor previous to such
demand of the acceptance by the Administrative Agent of this Guaranty, and without any notice
having been given to the Guarantor previous to such demand of the creating or incurring of such
indebtedness or of such obligation to perform, all such notices being hereby waived by the
Guarantor, pay the amount due to the Administrative Agent and the Lenders or perform or observe the
agreement, covenant, term or condition, as the case may be, and pay all damages and all costs and
expenses that may arise in consequence of such Event of Default (including, without limitation, all
reasonable attorneys’ fees and expenses actually incurred, investigation costs, court costs, and
any and all other costs and expenses incurred by the Administrative Agent in connection with the
collection and enforcement of the Note or any other Loan Document), whether or not suit is filed
thereon, or whether at maturity or by acceleration, or whether before or after maturity, or whether
in connection with bankruptcy, insolvency or appeal. It shall not be necessary for the
Administrative Agent, in order to enforce such payment or performance by the Guarantor, first to
institute suit or pursue or exhaust any rights or remedies against the Borrower or others liable on
such indebtedness or for such performance, or to enforce any rights against any security that shall
ever have been given to secure such indebtedness or performance, or to join the Borrower or any
others liable for the payment or performance of the Guaranteed Obligations or any part thereof in
any action to enforce this Guaranty, or to resort to any other means of obtaining payment or
performance of the Guaranteed Obligations; provided, however, that nothing herein contained shall
prevent the Administrative Agent from suing on the Note or foreclosing any or all of the Mortgages
or from exercising any other rights thereunder, and if such foreclosure or other remedy is availed
of, only the net proceeds therefrom, after deduction of all charges and expenses of every kind and
nature whatsoever, shall be applied in reduction of the amount due on the Note and Mortgage, and
the Administrative Agent shall not be required to institute or prosecute proceedings to recover any
deficiency as a condition of payment hereunder or enforcement hereof. At any sale of any Borrowing
Base Property or other collateral given for the Indebtedness or any part thereof, whether by
foreclosure or otherwise, the Administrative Agent may at its discretion purchase all or any part
of the Borrowing Base Property or collateral so sold or offered for sale for its own account and
may, in payment of the amount bid therefor, deduct such amount from the balance due it pursuant to
the terms of the Note, the Mortgage and other Loan Documents.

(c) Suit may be brought or demand may be made against the Borrower or against all parties who
have signed this Guaranty or any other guaranty covering all or any part of the Guaranteed
Obligations, or against any one or more of them, separately or together, without impairing the
rights of the Administrative Agent against any party hereto. Any time that the Administrative
Agent is entitled to exercise its rights or remedies hereunder, it may in its discretion elect to
demand payment and/or performance. If the Administrative Agent elects to demand performance, it
shall at all times thereafter have the right to demand payment until all of the Guaranteed
Obligations have been paid and performed in full. If the Administrative Agent elects to demand
payment, it shall at all times thereafter have the right to demand performance until all of the
Guaranteed Obligations have been paid and performed in full.

(d) The liability of the Guarantor or any other Person hereunder for Guaranteed Obligations
arising out of or related to the Environmental Agreement shall not be limited or affected in any
way by any provision in this Guaranty, the other Loan Documents or applicable Law limiting the
liability of the Borrower, the Guarantor or such other Person, or the Administrative Agent’s
recourse or rights to a deficiency judgment.

5. Certain Agreements and Waivers by Guarantor.

(a) The Guarantor hereby agrees that neither the Administrative Agent’s rights or remedies nor
the Guarantor’s obligations under the terms of this Guaranty shall be released, diminished,
impaired, reduced or affected by any one (1) or more of the following events, actions, facts or
circumstances, and the liability of the Guarantor under this Guaranty shall be absolute and
unconditional irrespective of:

(i) any limitation of liability or recourse in any other Loan Document or arising under
any law;

(ii) any claim or defense that this Guaranty was made without consideration or is not
supported by adequate consideration;

(iii) the taking or accepting of any other security or guaranty for, or right of
recourse with respect to, any or all of the Guaranteed Obligations;

(iv) the operation of any statutes of limitation or other Laws regarding the limitation
of actions, all of which are hereby waived as a defense to any action or proceeding brought
by the Administrative Agent against the Guarantor, to the fullest extent permitted by Law;

(v) any homestead exemption or any other exemption under applicable law;

(vi) any release, surrender, abandonment, exchange, alteration, sale or other
disposition, subordination, deterioration, waste, failure to protect or preserve, impairment
or loss of, or any failure to create or perfect any lien or security interest with respect
to, or any other dealings with, any collateral or security at any time existing or
purported, believed or expected to exist in connection with any or all of the Guaranteed
Obligations, including any impairment of the Guarantor’s recourse against any Person or
collateral;

(vii) whether express or by operation of law, any partial release of the liability of
the Guarantor hereunder, or if one or more other guaranties are now or hereafter obtained by
the Administrative Agent covering all or any part of the Guaranteed Obligations, any
complete or partial release of any one or more of such guarantors under any such other
guaranty, or any complete or partial release of the Borrower or any other party liable,
directly or indirectly, for the payment or performance of any or all of the Guaranteed
Obligations;

(viii) the insolvency, bankruptcy, dissolution, liquidation, termination, receivership,
reorganization, merger, consolidation, change of form, structure or ownership, sale of all
assets, or lack of corporate, partnership, limited liability company or other power of the
Borrower or any other party at any time liable for the payment or performance of any or all
of the Guaranteed Obligations;

(ix) either with or without notice to or consent of the Guarantor: any renewal,
extension, modification, supplement, subordination or rearrangement of the terms of any or
all of the Guaranteed Obligations and/or any of the Loan Documents, including, without
limitation, material alterations of the terms of payment (including changes in maturity
date(s) and interest rate(s)) or performance or any other terms thereof, or any waiver,
termination or release of, or consent to departure from, any of the Loan Documents or any
other guaranty of any or all of the Guaranteed Obligations, or any adjustment, indulgence,
forbearance or compromise that may be granted from time to time by the Administrative Agent
to the Borrower, the Guarantor and/or any other Person at any time liable for the payment or
performance of any or all of the Guaranteed Obligations;

(x) any neglect, lack of diligence, delay, omission, failure or refusal of the
Administrative Agent to take or prosecute (or in taking or prosecuting) any action for the
collection or enforcement of any of the Guaranteed Obligations, or to foreclose or take or
prosecute any action to foreclose (or in foreclosing or taking or prosecuting any action to
foreclose) upon any security therefor, or to exercise (or in exercising) any other right or
power with respect to any security therefor, or to take or prosecute (or in taking or
prosecuting) any action in connection with any Loan Document, or any failure to sell or
otherwise dispose of in a commercially reasonable manner any collateral securing any or all
of the Guaranteed Obligations;

(xi) any failure of the Administrative Agent to notify the Guarantor of any creation,
renewal, extension, rearrangement, modification, supplement, subordination or assignment of
the Guaranteed Obligations or any part thereof, or of any Loan Document, or of any release
of or change in any security, or of the occurrence or existence of any Default or Event of
Default, or of any other action taken or refrained from being taken by the Administrative
Agent against the Borrower or any security or other recourse, or of any new agreement
between the Administrative Agent on behalf of the Lenders and the Borrower, it being
understood that the Administrative Agent shall not be required to give the Guarantor any
notice of any kind under any circumstances with respect to or in connection with the
Guaranteed Obligations, any and all rights to notice the Guarantor may have otherwise had
being hereby waived by the Guarantor, and the Guarantor shall be responsible for obtaining
for itself information regarding the Borrower, including, but not limited to, any changes in
the business or financial condition of the Borrower, and the Guarantor acknowledges and
agrees that neither the Administrative Agent nor any Lender shall have any duty to notify
the Guarantor of any information which the Administrative Agent or any Lender may have
concerning the Borrower;

(xii) if for any reason the Administrative Agent or any Lender is required to refund
any payment by the Borrower to any other party liable for the payment or performance of any
or all of the Guaranteed Obligations or pay the amount thereof to someone else;

(xiii) the making of advances by the Administrative Agent or any Lender to protect its
or their interest in any Borrowing Base Property, preserve the value of any Borrowing Base
Property or for the purpose of performing any term or covenant contained in any of the Loan
Documents;

(xiv) the existence of any claim, counterclaim, set-off or other right that the
Guarantor may at any time have against the Borrower, the Administrative Agent, any Lender or
any other Person, whether or not arising in connection with this Guaranty, the Note, the
Credit Agreement or any other Loan Document;

(xv) the unenforceability of all or any part of the Guaranteed Obligations against the
Borrower, whether because the Guaranteed Obligations exceed the amount permitted by law or
violate any usury law, or because the act of creating the Guaranteed Obligations, or any
part thereof, is ultra vires, or because the officers or Persons creating the Guaranteed
Obligations acted in excess of their authority, or because of a lack of validity or
enforceability of or defect or deficiency in any of the Loan Documents, or because the
Borrower has any valid defense, claim or offset with respect thereto, or because the
Borrower’s obligation ceases to exist by operation of law, or because of any other reason or
circumstance, it being agreed that the Guarantor shall remain liable hereon regardless of
whether the Borrower or any other Person be found not liable on the Guaranteed Obligations,
or any part thereof, for any reason (and regardless of any joinder of the Borrower or any
other party in any action to obtain payment or performance of any or all of the Guaranteed
Obligations);

(xvi) any order, ruling or plan of reorganization emanating from proceedings under
Title 11 of the United States Code with respect to the Borrower or any other Person,
including any extension, reduction, composition or other alteration of the Guaranteed
Obligations, whether or not consented to by the Administrative Agent, or any action taken or
omitted by the Administrative Agent in any such proceedings, including any election to have
the Administrative Agent’s claim allowed as being secured, partially secured or unsecured,
any extension of credit by the Administrative Agent in any such proceedings or the taking
and holding by the Administrative Agent of any security for any such extension of credit;

(xvii) any other conditions, event, omission, action or inaction that would in the
absence of this paragraph result in the release or discharge of the Guarantor from the
performance or observance of any obligation, covenant or agreement contained in this
Guaranty or any other agreement;

(xviii) any early termination of any of the Guaranteed Obligations;

(xix) the Administrative Agent’s enforcement or forbearance from enforcement of the
Guaranteed Obligations on a net or gross basis;

(xx) any invalidity, irregularity or unenforceability in whole or in part (including
with respect to any netting provision) of any Swap Contract or any confirmation, instrument
or agreement required thereunder or related thereto, or any transaction entered into
thereunder, or any limitation on the liability of the Borrower thereunder or any limitation
on the method or terms of payment thereunder which may now hereafter be caused or imposed in
any manner whatsoever; or

(xxi) any rights it may have under the Illinois Sureties Act, 740 ILCS 155/1 et seq.

(b) In the event any payment by any Borrower or any other Person to the Administrative Agent
or any Lender is held to constitute a preference, fraudulent transfer or other voidable payment
under any bankruptcy, insolvency or similar law, or if for any other reason the Administrative
Agent or any Lender is required to refund such payment or pay the amount thereof to any other
party, such payment by the Borrower or any other Person to the Administrative Agent or any Lender
shall not constitute a release of the Guarantor from any liability hereunder, and this Guaranty
shall continue to be effective or shall be reinstated (notwithstanding any prior release, surrender
or discharge by the Administrative Agent of this Guaranty or of the Guarantor), as the case may be,
with respect to, and this Guaranty shall apply to, any and all amounts so refunded by the
Administrative Agent or any Lender or paid by the Administrative Agent or any Lender to another
Person (which amounts shall constitute part of the Guaranteed Obligations), and any interest paid
by the Administrative Agent or any Lender and any reasonable attorneys’ fees, costs and expenses
paid or actually incurred by the Administrative Agent or any Lender in connection with any such
event. It is the intent of the Guarantor, the Administrative Agent and the Lenders that the
obligations and liabilities of the Guarantor hereunder are absolute and unconditional under any and
all circumstances and that until the Guaranteed Obligations are fully and finally paid and
performed, and not subject to refund or disgorgement, the obligations and liabilities of the
Guarantor hereunder shall not be discharged or released, in whole or in part, by any act or
occurrence that might, but for the provisions of this Guaranty, be deemed a legal or equitable
discharge or release of a guarantor. The Administrative Agent shall be entitled to continue to
hold this Guaranty in its possession for the longer of (i) the period after which any performance
of obligations under the Environmental Agreement shall accrue, or (ii) a period of one (1) year
from the date the Guaranteed Obligations are paid and performed in full and for so long thereafter
as may be necessary to enforce any obligation of the Guarantor hereunder and/or to exercise any
right or remedy of the Administrative Agent hereunder.

(c) The Guarantor’s obligations shall not be affected, impaired, lessened or released by
loans, credits or other financial accommodations now existing or hereafter advanced by the
Administrative Agent or any Lender to the Borrower in excess of the Guaranteed Obligations. All
payments, repayments and prepayments of the Loan, whether voluntary or involuntary, received by the
Administrative Agent or any Lender from the Borrower, any other Person or any other source (other
than from the Guarantor pursuant to a demand by the Administrative Agent hereunder), and any
amounts realized from any collateral for the Loan, shall be deemed to be applied first to any
portion of the Loan which is not covered by this Guaranty, and last to the Guaranteed Obligations,
and this Guaranty shall bind the Guarantor to the extent of any Guaranteed Obligations that may
remain owing to the Administrative Agent and the Lenders. The Administrative Agent shall have the
right to apply any sums paid by the Guarantor to any portion of the Loan in the Administrative
Agent’s sole and absolute discretion.

(d) If acceleration of the time for payment of any amount payable by the Borrower under the
Note, the Credit Agreement, any Swap Contract or any other Loan Document is stayed or delayed by
any law or tribunal, all such amounts shall nonetheless be payable by the Guarantor on demand by
the Administrative Agent.

6. Subordination. If, for any reason whatsoever, the Borrower is now or hereafter becomes
indebted to the Guarantor:

(a) such indebtedness and all interest thereon and all liens, security interests and rights
now or hereafter existing with respect to property of the Borrower securing such indebtedness
shall, at all times, be subordinate in all respects to the Guaranteed Obligations and to all liens,
security interests and rights now or hereafter existing to secure the Guaranteed Obligations;

(b) except as expressly set forth in the Credit Agreement with respect to permitted
distributions from the Borrower, the Guarantor shall not be entitled to enforce or receive payment,
directly or indirectly, of any such indebtedness of the Borrower to the Guarantor until the
Guaranteed Obligations have been fully and finally paid and performed;

(c) the Guarantor hereby assigns and grants to the Administrative Agent for the benefit of the
Lenders a security interest in all such indebtedness and security therefor, if any, of the Borrower
to the Guarantor now existing or hereafter arising, including any dividends and payments pursuant
to debtor relief or insolvency proceedings referred to below. In the event of receivership,
bankruptcy, reorganization, arrangement or other debtor relief or insolvency proceedings involving
the Borrower as debtor, the Administrative Agent shall have the right to prove its claim in any
such proceeding so as to establish its rights hereunder and shall have the right to receive
directly from the receiver, trustee or other custodian (whether or not a Default shall have
occurred or be continuing under any of the Loan Documents), dividends and payments that are payable
upon any obligation of the Borrower to the Guarantor now existing or hereafter arising, and to have
all benefits of any security therefor, until the Guaranteed Obligations have been fully and finally
paid and performed. If, notwithstanding the foregoing provisions, the Guarantor should receive any
payment, claim or distribution that is prohibited as provided above in this Section 6, the
Guarantor shall pay the same to the Administrative Agent immediately, the Guarantor hereby agreeing
that it shall receive the payment, claim or distribution in trust for the Administrative Agent and
shall have absolutely no dominion over the same except to pay it immediately to the Administrative
Agent; and

(d) the Guarantor shall promptly upon request of the Administrative Agent from time to time
execute such documents and perform such acts as the Administrative Agent may require to evidence
and perfect its interest and to permit or facilitate exercise of its rights under this Section
6, including, but not limited to, execution and delivery of financing statements, proofs of
claim, further assignments and security agreements, and delivery to the Administrative Agent of any
promissory notes or other instruments evidencing indebtedness of the Borrower to the Guarantor.
All promissory notes, accounts receivable ledgers or other evidences, now or hereafter held by the
Guarantor, of obligations of the Borrower to the Guarantor shall contain a specific written notice
thereon that the indebtedness evidenced thereby is subordinated under and is subject to the terms
of this Guaranty.

7. Other Liability of Guarantor or Borrower. If the Guarantor is or becomes liable, by
endorsement or otherwise, for any indebtedness owing by the Borrower to the Administrative Agent or
any Lender other than under this Guaranty, such liability shall not be in any manner impaired or
affected hereby, and the rights of the Administrative Agent and the Lenders hereunder shall be
cumulative of any and all other rights that the Administrative Agent or any Lender may have against
the Guarantor. If the Borrower is or becomes indebted to the Administrative Agent or any Lender
for any indebtedness other than or in excess of the Indebtedness for which the Guarantor is liable
under this Guaranty, any payment received or recovery realized upon such other indebtedness of the
Borrower to the Administrative Agent or such Lender may, except to the extent paid by the Guarantor
on the Indebtedness or specifically required by law or agreement of the Administrative Agent to be
applied to the Indebtedness, in the Administrative Agent’s sole discretion, be applied upon
indebtedness of the Borrower to the Administrative Agent or such Lender other than the
Indebtedness. This Guaranty is independent of (and shall not be limited by) any other guaranty now
existing or hereafter given. Further, the Guarantor’s liability under this Guaranty is in addition
to any and all other liability the Guarantor may have in any other capacity, including without
limitation, its capacity as a general partner.

8. Lender Assigns. This Guaranty is for the benefit of the Administrative Agent and the
Lenders and their respective successors and assigns, and in the event of an assignment of the
Guaranteed Obligations, or any part thereof, the rights and benefits hereunder, to the extent
applicable to the Guaranteed Obligations so assigned, may be transferred with such Guaranteed
Obligations. The Guarantor waives notice of any transfer or assignment of the Guaranteed
Obligations, or any part thereof, and agrees that failure to give notice of any such transfer or
assignment will not affect the liabilities of the Guarantor hereunder.

9. Binding Effect; Joint and Several Liability. This Guaranty is binding not only on the
Guarantor, but also on the Guarantor’s successors and assigns. If this Guaranty is signed by more
than one (1) Person, then all of the obligations of the Guarantor arising hereunder shall be
jointly and severally binding on each of the undersigned, and their respective heirs, personal
representatives, successors and assigns, and the term “Guarantor” shall mean all of such Persons
and each of them individually.

10. Governing Law; Forum; Consent to Jurisdiction. This Guaranty is an agreement executed
under seal. The validity, enforcement and interpretation of this Guaranty, shall for all purposes
be governed by and construed in accordance with the laws of the State of Illinois and applicable
United States federal law, and is intended to be performed in accordance with, and only to the
extent permitted by, such laws. All obligations of the Guarantor hereunder are payable and
performable at the place or places where the Guaranteed Obligations are payable and performable.
The Guarantor hereby irrevocably submits generally and unconditionally for the Guarantor and in
respect of the Guarantor’s property to the nonexclusive jurisdiction of any state court, or any
United States federal court, sitting in the state specified in the first sentence of this Section
and to the jurisdiction of any state or United States federal court sitting in the state in which
any Borrowing Base Property is located, over any suit, action or proceeding arising out of or
relating to this Guaranty or the Guaranteed Obligations. The Guarantor hereby irrevocably waives,
to the fullest extent permitted by law, any objection that the Guarantor may now or hereafter have
to the laying of venue in any such court and any claim that any such court is an inconvenient
forum. Final judgment in any such suit, action or proceeding brought in any such court shall be
conclusive and binding upon the Guarantor and may be enforced in any court in which the Guarantor
is subject to jurisdiction. The Guarantor hereby agrees and consents that, in addition to any
methods of service of process provided for under applicable law, all service of process in any such
suit, action or proceeding in any state court, or any United States federal court, sitting in the
state specified in the first sentence of this Section may be made by certified or registered mail,
return receipt requested, directed to the Guarantor at the address set forth at the end of this
Guaranty, or at a subsequent address of which the Administrative Agent receives actual notice from
the Guarantor in accordance with the notice provisions hereof, and service so made shall be
complete five (5) days after the same shall have been so mailed. Nothing herein shall affect the
right of the Administrative Agent to serve process in any manner permitted by law or limit the
right of the Administrative Agent to bring proceedings against the Guarantor in any other court or
jurisdiction. The Guarantor hereby releases, to the extent permitted by applicable law, all errors
and all rights of exemption, appeal, stay of execution, inquisition and other rights to which the
Guarantor may otherwise be entitled under the laws of the United States of America or any State or
possession of the United States of America now in force or which may hereinafter be enacted. The
authority and power to appear for and enter judgment against the Guarantor shall not be exhausted
by one or more exercises thereof or by any imperfect exercise thereof and shall not be extinguished
by any judgment entered pursuant thereto. Such authority may be exercised on one or more occasions
or from time to time in the same or different jurisdiction as often as the Administrative Agent
shall deem necessary and desirable.

11. Invalidity of Certain Provisions. If any provision of this Guaranty or the application
thereof to any Person or circumstance shall, for any reason and to any extent, be declared to be
invalid or unenforceable, neither the remaining provisions of this Guaranty nor the application of
such provision to any other Person or circumstance shall be affected thereby, and the remaining
provisions of this Guaranty, or the applicability of such provision to other Persons or
circumstances, as applicable, shall remain in effect and be enforceable to the maximum extent
permitted by applicable law.

12. Attorneys’ Fees and Costs of Collection. The Guarantor shall pay on demand all
reasonable attorneys’ fees and all other costs and expenses actually incurred by the Administrative
Agent’s and the Lenders’ in the enforcement of or preservation of the Administrative Agent’s or the
Lenders’ rights under this Guaranty including, without limitation, all attorneys’ fees and
expenses, investigation costs and all court costs, whether or not suit is filed hereon, or whether
at maturity or by acceleration, or whether before or after maturity, or whether in connection with
bankruptcy, insolvency or appeal, or whether in connection with the collection and enforcement of
this Guaranty against any other Guarantor, if there be more than one (1). The Guarantor agrees to
pay interest on any expenses or other sums due to the Administrative Agent and the Lenders under
this Section 12 that are not paid when due, at a rate per annum equal to the Default Rate.
The Guarantor’s obligations and liabilities under this Section 12 shall survive any payment
or discharge in full of the Guaranteed Obligations. All such costs and expenses incurred by the
Administrative Agent and the Lenders shall constitute a portion of the Guaranteed Obligations
hereunder, shall be subject to the provisions hereof with respect to the Guaranteed Obligations and
shall be payable by the Guarantor on demand by the Administrative Agent.

13. Payments. All sums payable under this Guaranty shall be paid in lawful money of the
United States of America that at the time of payment is legal tender for the payment of public and
private debts.

14. Controlling Agreement. It is not the intention of the Administrative Agent, the
Lenders or the Guarantor to obligate the Guarantor to pay interest in excess of that lawfully
permitted to be paid by the Guarantor under applicable law. Should it be determined that any
portion of the Guaranteed Obligations or any other amount payable by the Guarantor under this
Guaranty constitutes interest in excess of the maximum amount of interest that the Guarantor, in
the Guarantor’s capacity as guarantor, may lawfully be required to pay under applicable law, the
obligation of the Guarantor to pay such interest shall automatically be limited to the payment
thereof in the maximum amount so permitted under applicable law. The provisions of this
Section 14 shall override and control all other provisions of this Guaranty and of any
other agreement between the Guarantor and the Administrative Agent.

15. Representations, Warranties, and Covenants of Guarantor. The Guarantor hereby
represents, warrants and covenants to the Administrative Agent and the Lenders that (a) the
Guarantor has a financial interest in each Borrower and will derive a material and substantial
benefit, directly or indirectly, from the making of the Loan to each Borrower and from the making
of this Guaranty by the Guarantor; (b) this Guaranty is duly authorized and valid, and is binding
upon and enforceable against, the Guarantor; (c) the Guarantor is not, and the execution, delivery
and performance by the Guarantor of this Guaranty will not cause the Guarantor to be, in violation
of or in default with respect to any law or in default (or at risk of acceleration of indebtedness)
under any agreement or restriction by which the Guarantor is bound or affected; (d) the Guarantor
is duly organized, validly existing, and in good standing under the laws of the state of its
organization and under Maryland laws, and has full power and authority to enter into and perform
this Guaranty; (e) the Guarantor will indemnify the Administrative Agent and the Lenders from any
loss, cost or expense as a result of any representation or warranty of the Guarantor being false,
incorrect, incomplete or misleading in any material respect; (f) there is no litigation pending or,
to the knowledge of the Guarantor, threatened before or by any tribunal against or affecting the
Guarantor which, if determined adversely, could reasonably be expected to have a Material Adverse
Effect on Guarantor or Borrower; (g) all financial statements and information heretofore furnished
to the Administrative Agent and the Lenders by the Guarantor do, and all financial statements and
information hereafter furnished to the Administrative Agent and the Lenders by the Guarantor will,
fully and accurately present the condition (financial or otherwise) of the Guarantor as of their
dates and the results of the Guarantor’s operations for the periods therein specified, and, since
the date of the most recent financial statements of the Guarantor heretofore furnished to the
Administrative Agent and the Lenders, no material adverse change has occurred in the financial
condition of the Guarantor, nor, except as heretofore disclosed in writing to the Administrative
Agent and the Lenders, has the Guarantor incurred any material liability, direct or indirect, fixed
or contingent; (h) after giving effect to this Guaranty, the Guarantor is solvent, is not engaged
or about to engage in business or a transaction for which the property of the Guarantor is an
unreasonably small capital, and does not intend to incur or believe that it will incur debts that
will be beyond its ability to pay as such debts mature; (i) neither the Administrative Agent nor
the Lenders have any duty at any time to investigate or inform the Guarantor of the financial or
business condition or affairs of the Borrower or any change therein, and the Guarantor will keep
fully apprised of the Borrower’s financial and business condition; (j) the Guarantor acknowledges
and agrees that Guarantor may be required to pay and perform the Guaranteed Obligations in full
without assistance or support from the Borrower or any other Person; and (k) the Guarantor has read
and fully understands the provisions contained in the Note, the Credit Agreement, the Mortgage, the
Environmental Agreement, and the other Loan Documents. The Guarantor’s representations, warranties
and covenants are a material inducement to the Administrative Agent and the Lenders to enter into
the other Loan Documents and shall survive the execution hereof and any bankruptcy, foreclosure,
transfer of security or other event affecting the Borrower, the Guarantor, any other party, or any
security for all or any part of the Guaranteed Obligations.

The Guarantor further represents, warrants and covenants that if any Swap Contract shall at any
time be in effect, (x) the Guarantor has received and examined copies of each such Swap Contract,
the observance and performance of which by the Borrower is hereby guaranteed; (y) the Guarantor
will benefit from each such Swap Agreement and any transactions thereunder with the Borrower, and
the Guarantor has determined that the execution and delivery by the Guarantor of this Guaranty are
necessary and convenient to the conduct, promotion and attainment of the business of the Guarantor;
and (z) neither the Administrative Agent nor any Lender has any duty to determine whether any Swap
Contract, or any other transaction relating to or arising under any Swap Contract, will be or has
been entered into by the Borrower for purposes of hedging interest rate, currency exchange rate or
other risks arising in its businesses or affairs and not for purposes of speculation or is
otherwise inappropriate for such Borrower. The Guarantor’s representations, warranties and
covenants are a material inducement to the Administrative Agent and the Lenders to enter into the
other Loan Documents and any Swap Contract shall survive the execution hereof and any bankruptcy,
foreclosure, transfer of security or other event affecting the Borrower, the Guarantor, any other
party, or any security for all or any part of the Guaranteed Obligations.

16. Additional Covenants of Guarantor.

(a) Tangible Net Worth. The Guarantor shall at all times, to be tested quarterly as
noted in Section 16(g) (commencing as of the quarter ending on September 30, 2010) and in
connection with the delivery of a Guarantor Covenant Compliance Certificate (as defined below) in
accordance with the terms and provisions of the Credit Agreement, maintain a minimum Tangible Net
Worth in total of not less than $20,000,000.00 plus 75% of the aggregate amount of all net funds
received by the Guarantor from offerings of Equity Interests by the Guarantor for the period
commencing on June 30, 2010 through the Maturity Date (including any extension thereof).

(b) Liquid Assets. The Guarantor shall at all times, to be tested quarterly as noted
in Section 16(g) (commencing as of the quarter ending on September 30, 2010) and in connection with
the delivery of a Guarantor Covenant Compliance Certificate in accordance with the terms and
provisions of the Credit Agreement, maintain aggregate liquid assets (i) of at least $5,000,000.00
for the period commencing on June 30, 2010 through December 31, 2010; (ii) of at least
$10,000,000.00 for the period commencing on January 1, 2011 through December 31, 2011; and (iii) of
at least $15,000,000.00 for the period commencing on January 1, 2012 through the Maturity Date
(including any extension thereof). Eligible liquid assets shall be limited to cash or cash
equivalents plus the amount by which the Aggregate Commitments exceed the Total Outstandings.

(c) Fixed Charge Coverage Ratio. The Guarantor shall maintain at all times,
to be tested quarterly as noted in Section 16(g) (commencing as of the quarter ending on December
31, 2011) and in connection with the delivery of a Guarantor Covenant Compliance Certificate in
accordance with the terms and provisions of the Credit Agreement on or after December 31, 2011,
during the periods below a minimum Fixed Charge Coverage Ratio (i) for the quarterly testing period
ending on December 31, 2011, not less than 1.75 to 1.00, and (ii) as of each calendar quarter end
occurring after December 31, 2011 through the Maturity Date (including any extension thereof), not
less than 2.00 to 1.00.

(d) Funded Debt Ratio. The Guarantor shall maintain at all times, to be tested
quarterly as noted in Section 16(g) (commencing as of the quarter ending on September 30, 2010) and
in connection with the delivery of a Guarantor Covenant Compliance Certificate in accordance with
the terms and provisions of the Credit Agreement, a maximum ratio of Funded Debt to Total Assets of
50%.

(e) Maximum Dividend Ratio. The Guarantor shall maintain at all times, to be tested
quarterly as noted in Section 16(g) (commencing as of the quarter ending on December 31, 2011) and
in connection with the delivery of a Guarantor Covenant Compliance Certificate in accordance with
the terms and provisions of the Credit Agreement on or after December 31, 2011, a ratio of the
Guarantor’s paid out dividends and distributions during each calendar quarter to the Guarantor’s
Funds From Operations received during such calendar quarter not less than the following: (i)
commencing as of the calendar quarter end occurring on December 31, 2011, not less than 1.20 to
1.00, and (ii) as of each calendar quarter end occurring after December 31, 2011 through the
Maturity Date (including any extension thereof), not less than 0.95 to 1.00.

(f) As used in this Section 16, the following terms shall have the meanings indicated
below:

(i) “Equity Interests” means any share of capital stock of (or other ownership
or profit interests in), any warrant, option or other right for the purchase or other
acquisition of any share of capital stock of (or other ownership or profit interests in),
any security convertible into or exchangeable for any share of capital stock of (or other
ownership or profit interests in) such warrant, right or option for the purchase or other
acquisition of such share (or such other interests), and any other ownership or profit
interest in (including, without limitation, partnership, member or trust interests therein),
whether voting or nonvoting, and whether or not such share, warrant, option, right or other
interest is authorized or otherwise existing on any date of determination.

(ii) “Fixed Charges” means, for any period, the sum of (x) Interest Expense for
such period, plus (y) current scheduled principal payments on Funded Indebtedness for such
period (including, for purposes hereof, current scheduled reductions in commitments, but
excluding any payment of principal under the Loan Documents and any “balloon” payment or
final payment at maturity that is significantly larger than the scheduled payments that
preceded it) for a period beginning the day after the date of determination and lasting the
same length of time as the applicable period referenced at the beginning of this definition,
plus (z) dividends and distributions on preferred stock, if any, for such period, in each
case, determined in accordance with GAAP.

(iii) “Fixed Charge Coverage Ratio” means, as of any date of determination, the
ratio of (x) Operating Cash Flow to (y) Fixed Charges.

(iv) “Funded Debt” means, as of any date of determination, the sum of
(x) all Funded Debt minus (y) to the extent included in the calculation of Funded Debt, the
aggregate amount of Funded Debt directly attributable to FIN 46 consolidation requirements,
all determined in accordance with GAAP.

"Funded Debt” means, as to any Person (or consolidated group of Persons) at a
particular time, without duplication, all of the following, whether or not included as
indebtedness or liabilities in accordance with GAAP: (1) all obligations for borrowed money,
whether current or long-term (including all Obligations under the Loan Documents) and all
obligations evidenced by bonds, debentures, notes, loan agreements or other similar
instruments; (2) all purchase money indebtedness (including indebtedness and obligations in
respect of conditional sales and title retention arrangements, except for customary
conditional sales and title retention arrangements with suppliers that are entered into in
the ordinary course of business), and all indebtedness and obligations in respect of the
deferred purchase price of property or services (other than trade accounts payable incurred
in the ordinary course of business and payable on customary trade terms); (3) all direct
obligations under letters of credit (including standby and commercial), bankers’ acceptances
and similar instruments (including bank guaranties, surety bonds, comfort letters, keep-well
agreements and capital maintenance agreements) to the extent such instruments or agreements
support financial, rather than performance, obligations; (4) all preferred stock and
comparable equity interests providing for mandatory redemption, sinking fund or other like
payments; (5) support obligations in respect of Funded Debt of another Person (other than
Persons in such group, if applicable); and (6) Funded Debt of any partnership or joint
venture or other similar entity in which such Person is a general partner or joint venturer,
and as such, has personal liability for such obligations, but only to the extent there is
recourse to such person (or, if applicable, any Person in such consolidated group) for
payment thereof.

For purposes hereof, the amount of Funded Debt shall be determined based on the
outstanding principal amount in the case of borrowed money indebtedness under clause
(1) and purchase money indebtedness and the deferred purchase obligations under
clause (2), based on the maximum amount available to be drawn in the case of letter
of credit obligations and the other obligations under clause (3), and based on the
amount of the Funded Debt that is the subject of the support obligations in the case of
support obligations under clause (4). For purposes of clarification, “Funded
Debt” of Persons constituting a consolidated group shall not include inter-company
indebtedness of such Persons, general accounts payable of such Persons which arise in the
ordinary course of business, accrued expenses of such Persons incurred in the ordinary
course of business of minority interests in joint ventures or limited partnerships (except
to the extent set forth in clause (6) above).

(v) “Funds From Operations” means, with respect to any period, net
income (or loss), plus depreciation and amortization and after adjustments for
unconsolidated partnerships and joint ventures as hereafter provided. Notwithstanding
contrary treatment under GAAP, for purposes hereof, (x) “Funds From Operations” shall
include, and be adjusted to take into account, the Borrower’s interests in unconsolidated
partnerships and joint ventures, on the same basis as consolidated partnerships and
subsidiaries, as provided in the “white paper” issued in April 2002 by the National
Association of Real Estate Investment Trusts, and (y) net income (or loss) shall not include
gains (or, if applicable, losses) resulting from or in connection with (1) restructuring of
indebtedness, (2) sales of property, (3) sales or redemptions of preferred stock, (4)
revenue or expenses related to owned and operated assets, (5) revenue or expense related to
FIN 46 consolidation requirements, or (6) any other special charges.

(vi) “Interest Expense” means, for any period, all interest expense and letter
of credit fee expense, as determined in accordance with GAAP during such period; provided
that, Interest Expenses shall, in any event, (x) include the interest component under
capital leases and the implied interest component under securitization transactions, and (y)
exclude the amortization of any deferred financing fees.

(vii) “Operating Cash Flow” means, during the three (3) month period prior to
the date of calculation, all rental and other income (including minimum rent, additional
rent, escalation and pass through payments, utility charges, forfeited security deposits,
service fees or charges and parking fees) received in such period from tenants under
executed leases and licensing agreements, and including tenant servicing income (but
excluding tenant security deposits) arising from the ownership and operation of all of the
properties in the Guarantor’s REIT (i.e. including properties that are other than Borrowing
Base Properties owned by the Borrower) in the ordinary course of business minus the sum of
all costs, taxes, expenses and disbursements of every kind, nature or description actually
paid or due and payable during such period in connection with the leasing, management,
operation, maintenance and repair of all of the properties in the Guarantor’s REIT (i.e.
including properties that are other than Borrowing Base Properties owned by the Borrower),
and of the personal property, fixtures, machinery, equipment, systems and apparatus located
therein or used in connection therewith including the greater of actual management fees or
assumed management fees equal to (x) 3.0% of the effective gross revenues of all of the
properties in the Guarantor’s REIT (i.e. including properties that are other than Borrowing
Base Properties owned by the Borrower), and (y) a replacement reserve equal to $0.25 per
square foot per year for the total square footage of rentable space in all of the properties
in the Guarantor’s REIT (i.e. including properties that are other than Borrowing Base
Properties owned by the Borrower), but excluding (1) non-cash expenses, such as depreciation
and amortization costs, (2) state and federal income taxes, (3) the non-current portion of
capital expenditures determined in accordance with GAAP, (4) debt service payable on the
Loan, (5) principal and interest payments on other loans, and (6) non-recurring capitalized
expenditures. In determining Operating Cash Flow, extraordinary items of income, such as
those resulting from casualty or condemnation or lease termination payments of tenants,
shall be deducted from income, and real estate taxes and insurance premiums paid on an
annual basis shall be divided by four (4).

(viii) “Tangible Net Worth” means, as of any date of determination, (x)
shareholders’ equity determined in accordance with GAAP, but with no upward adjustments due
to any revaluation of assets, minus (y) all non-real estate related intangible assets, plus
(z) all accumulated depreciation and amortization, all determined in accordance with GAAP.

(ix) “Total Assets” means the value of all of the Guarantor’s assets determined
on a consolidated basis in accordance with GAAP.

(g) Certification. The Guarantor shall deliver to the Administrative Agent a signed
statement from a Responsible Officer in form and substance satisfactory to the Administrative Agent
(a “Guarantor Covenant Compliance Certificate”), within sixty (60) calendar days after the
end of each calendar quarter, or at any time, upon request of the Administrative Agent, certifying
that the Tangible Net Worth, the liquid assets, the Fixed Charge Coverage Ratio, the Funded Debt
ratio, and the maximum dividend ratio covenants set forth in this Section 16 are satisfied
and setting forth the actual values with respect to each such covenant as of the period just ended
along with evidence satisfactory to the Administrative Agent of the Guarantor’s compliance with
each of such covenants.

17. Notices. All notices, requests, consents, demands and other communications required or
which any party desires to give hereunder or under any other Loan Document shall be in writing and,
unless otherwise specifically provided in such other Loan Document, shall be deemed sufficiently
given or furnished if delivered by personal delivery, by nationally recognized overnight courier
service, or by registered or certified United States mail, postage prepaid, addressed to the party
to whom directed at the addresses specified in this Guaranty (unless changed by similar notice in
writing given by the particular party whose address is to be changed) or by telegram, telex or
facsimile. Any such notice or communication shall be deemed to have been given either at the time
of personal delivery or, in the case of courier or mail, as of the date of first attempted delivery
at the address and in the manner provided herein, or, in the case of telegram, telex or facsimile,
upon receipt; provided that, service of a notice required by any applicable statute shall be
considered complete when the requirements of that statute are met. Notwithstanding the foregoing,
no notice of change of address shall be effective except upon actual receipt. This Section shall
not be construed in any way to affect or impair any waiver of notice or demand provided in this
Guaranty or in any Loan Document or to require giving of notice or demand to or upon any Person in
any situation or for any reason.

18. Cumulative Rights. The exercise by the Administrative Agent of any right or remedy
hereunder or under any other Loan Document, or at law or in equity, shall not preclude the
concurrent or subsequent exercise of any other right or remedy. The Administrative Agent and the
Lenders shall have all rights, remedies and recourses afforded to the Administrative Agent and the
Lenders by reason of this Guaranty or any other Loan Document or by law or equity or otherwise, and
the same (a) shall be cumulative and concurrent, (b) may be pursued separately, successively or
concurrently against Guarantor or others obligated for the Guaranteed Obligations, or any part
thereof, or against any one or more of them, or against any security or otherwise, at the sole and
absolute discretion of the Administrative Agent, (c) may be exercised as often as occasion therefor
shall arise, it being agreed by the Guarantor that the exercise of, discontinuance of the exercise
of or failure to exercise any of such rights, remedies or recourses shall in no event be construed
as a waiver or release thereof or of any other right, remedy or recourse, and (d) are intended to
be, and shall be, nonexclusive. No waiver of any default on the part of the Guarantor or of any
breach of any of the provisions of this Guaranty or of any other document shall be considered a
waiver of any other or subsequent default or breach, and no delay or omission in exercising or
enforcing the rights and powers granted herein or in any other document shall be construed as a
waiver of such rights and powers, and no exercise or enforcement of any rights or powers hereunder
or under any other document shall be held to exhaust such rights and powers, and every such right
and power may be exercised from time to time. The granting of any consent, approval or waiver by
the Administrative Agent shall be limited to the specific instance and purpose therefor and shall
not constitute consent or approval in any other instance or for any other purpose. No notice to or
demand on the Guarantor in any case shall of itself entitle the Guarantor to any other or further
notice or demand in similar or other circumstances. No provision of this Guaranty or any right,
remedy or recourse of the Administrative Agent and the Lenders with respect hereto, or any default
or breach, can be waived, nor can this Guaranty or the Guarantor be released or discharged in any
way or to any extent, except specifically in each case by a writing intended for that purpose (and
which refers specifically to this Guaranty) executed and delivered to the Guarantor by the
Administrative Agent.

19. Term of Guaranty. This Guaranty shall continue in effect until all the Guaranteed
Obligations are fully and finally paid, performed and discharged, except that, and notwithstanding
any return of this Guaranty to the Guarantor, this Guaranty shall continue in effect (a) with
respect to any of the Guaranteed Obligations that survive the full and final payment of the
indebtedness evidenced by the Note, (b) with respect to all obligations and liabilities of the
Guarantor under Section 12, and (c) as provided in Section 5(b).

20. Financial Statements. As used in this Section, “Financial Statements” means a balance
sheet, income statement, statement of cash flow (and amount and sources of contingent liabilities,
if any as more particularly described in the footnotes to the Guarantor’s Financial Statements), a
reconciliation of changes in equity, and, unless the Administrative Agent otherwise consents,
consolidated and consolidating statements if the reporting party is a holding company or a parent
of a subsidiary entity. Each party for whom Financial Statements are required is a “reporting
party” and a specified period to which the required Financial Statements relate is a “reporting
period”. The Guarantor shall provide or cause to be provided to the Administrative Agent the
following:

(a) Annual Financial Statements, as contained in the Guarantor’s 10K SEC filings, and of each
partner or member of Guarantor if Guarantor is a partnership or limited liability company, for each
calendar year, as soon as reasonably practicable and in any event within ninety (90) days after the
end of each calendar year.

(b) Quarterly Financial Statements, as contained in the Guarantor’s 10Q SEC filings, and of
each partner or member of Guarantor if Guarantor is a partnership or limited liability company, for
each calendar quarter, as soon as reasonably practicable and in any event within sixty (60) days
after the end of each calendar quarter.

(c) An annual spreadsheet, as soon as reasonably practicable and in any event within ninety
(90) days after the end of each calendar year, setting forth for each real property asset owned in
whole or in part by the Guarantor the following information: (i) asset location and description,
(ii) asset value which will be deemed to be equal to the purchase price paid, unless an appraisal
was done subsequent to acquisition, or the purchase price paid less any impairment charges recorded
on the property under GAAP, (iii) annual Net Operating Income of the asset, and (iv) details
regarding any financing or credit arrangements with respect to the asset, including the name of the
lender, the maturity date (including any extension options), the interest rate and any recourse
obligations as to such financing or credit arrangement.

(d) An annual list, as soon as reasonably practicable and in any event within ninety (90) days
after the end of each calendar year, setting forth all recourse and non-recourse debt of the
Guarantor.

(e) Any other financial statements required to be delivered pursuant to Section 16 of
this Guaranty and Section 6.01 of the Credit Agreement.

(f) From time to time promptly after the Administrative Agent’s request, such additional
information, reports and statements regarding the business operations and financial condition of
each reporting party as the Administrative Agent may reasonably request.

All Financial Statements shall be in form and detail satisfactory to the Administrative Agent and
shall contain or be attached to the signed and dated written certification of the reporting party
in form satisfactory to the Administrative Agent to certify that the Financial Statements are
furnished to the Administrative Agent and the Lenders in connection with the extension of credit by
the Administrative Agent and the Lenders and constitute a true and correct statement of the
reporting party’s financial position. All certifications and signatures on behalf of corporations,
partnerships or other entities shall be by a Responsible Officer of the entity satisfactory to the
Administrative Agent. All year-end Financial Statements shall be audited or certified, as required
by the Administrative Agent, without any qualification or exception not acceptable to the
Administrative Agent, by independent certified public accountants acceptable to the Administrative
Agent, and shall contain all reports and disclosures required by generally accepted accounting
principles for a fair presentation. All quarter-end Financial Statements of the Guarantor shall be
compiled or reviewed by independent certified public accountants acceptable to the Administrative
Agent.

All assets shown on the Financial Statements provided by the Guarantor, unless clearly designated
to the contrary, shall be conclusively deemed to be free and clear of any exemption or any claim of
exemption of the Guarantor at the date of the Financial Statements and at all times thereafter.
Acceptance of any Financial Statement by the Administrative Agent, whether or not in the form
prescribed herein, shall be relied upon by the Administrative Agent in the administration,
enforcement and extension of the Guaranteed Obligations.

21. Disclosure of Information. The Administrative Agent and each Lender may sell or offer
to sell its interests in the Loan to one (1) or more assignees or participants and may disclose to
any such assignee or participant or prospective assignee or participant, to the Administrative
Agent’s affiliates, including without limitation Banc of America Securities LLC, to any regulatory
body having jurisdiction over the Administrative Agent to any other parties as necessary or
appropriate in the Administrative Agent’s or any Lender’s reasonable judgment, any information the
Administrative Agent or any Lender now has or hereafter obtains pertaining to the Guaranteed
Obligations, this Guaranty or the Guarantor, including, without limitation, information regarding
any security for the Guaranteed Obligations or for this Guaranty, credit or other information on
the Guarantor, any Borrower and/or any other party liable, directly or indirectly, for any part of
the Guaranteed Obligations.

22. Right of Set-Off. Upon the occurrence and during the continuance of any Default,
however defined, in the payment or performance when due of any of the Guaranteed Obligations, the
Administrative Agent and each Lender is hereby authorized, at any time and from time to time, to
the fullest extent permitted by applicable law, without notice to any Person (any such notice being
expressly waived by the Guarantor to the fullest extent permitted by applicable law), to set off
and apply any and all deposits, funds or assets at any time held and other indebtedness at any time
owing by the Administrative Agent or such Lender to or for the credit or the account of the
Guarantor against any and all of the obligations of the Guarantor now or hereafter existing under
this Guaranty, whether or not the Administrative Agent shall have made any demand under this
Guaranty or exercised any other right or remedy hereunder. The Administrative Agent and each
Lender will promptly notify the Guarantor after any such setoff and application, provided that the
failure to give such notice shall not affect the validity of such setoff and application. The
rights of the Administrative Agent and each Lender under this Section 22 are in addition to
the other rights and remedies (including other rights of setoff) that the Administrative Agent and
each Lender may have and every right of setoff and lien shall continue in full force and effect
until such right of setoff or lien is specifically waived or released by an instrument in writing
executed by the Administrative Agent or such Lender.

23. Subrogation. Notwithstanding anything to the contrary contained herein, the Guarantor
shall not have any right of subrogation in or under any of the Loan Documents or to participate in
any way therein, or in any right, title or interest in and to any security or right of recourse for
the Indebtedness or any right to reimbursement, exoneration, contribution, indemnification or any
similar rights, until the Indebtedness has been fully and finally paid. This waiver is given to
induce the Administrative Agent and the Lenders to make the Loan to Borrower.

24. Further Assurances. The Guarantor at the Guarantor’s expense will promptly execute and
deliver to the Administrative Agent upon the Administrative Agent’s request all such other and
further documents, agreements and instruments in compliance with or accomplishment of the
agreements of the Guarantor under this Guaranty.

25. No Fiduciary Relationship. The relationship between the Administrative Agent and the
Lenders and the Guarantor is solely that of lender and guarantor. Neither the Administrative Agent
nor any Lender has any fiduciary or other special relationship with or duty to the Guarantor and
none is created hereby or may be inferred from any course of dealing or act or omission of the
Administrative Agent or any Lender.

26. Interpretation. If this Guaranty is signed by more than one Person as
"Guarantor”, then the term “Guarantor” as used in this Guaranty shall refer to all
such Persons, jointly and severally, and all promises, agreements, covenants, waivers, consents,
representations, warranties and other provisions in this Guaranty are made by and shall be binding
upon each and every such Person, jointly and severally, and Lender may pursue any Guarantor
hereunder without being required (a) to pursue any other Guarantor hereunder, or (b) pursue rights
and remedies under the Mortgage and/or applicable law with respect to each Borrowing Base Property
or any other Loan Documents. The term “Lender” shall be deemed to include any subsequent
holder(s) of any Note. Whenever the context of any provisions hereof shall require it, words in
the singular shall include the plural, words in the plural shall include the singular, and pronouns
of any gender shall include the other gender. Captions and headings in the Loan Documents are for
convenience only and shall not affect the construction of the Loan Documents. All references in
this Guaranty to Schedules, Articles, Sections, Subsections, paragraphs and subparagraphs refer to
the respective subdivisions of this Guaranty, unless such reference specifically identifies another
document. The terms “herein”, “hereof”, “hereto”, “hereunder” and
similar terms refer to this Guaranty and not to any particular Section or subsection of this
Guaranty. The terms “include” and “including” shall be interpreted as if followed
by the words “without limitation”. All references in this Guaranty to sums denominated in
dollars or with the symbol “$” refer to the lawful currency of the United States of
America, unless such reference specifically identifies another currency. For purposes of this
Guaranty, “Person” or “Persons” shall include firms, associations, partnerships
(including limited partnerships), joint ventures, trusts, corporations, limited liability companies
and other legal entities, including governmental bodies, agencies or instrumentalities, as well as
natural persons.

27. Time of Essence. Time shall be of the essence in this Guaranty with respect to all of
Guarantor’s obligations hereunder.

28. Intentionally Omitted.

29. Entire Agreement. This Guaranty embodies the entire agreement among the Administrative
Agent and the Lenders and the Guarantor with respect to the guaranty by the Guarantor of the
Guaranteed Obligations. This Guaranty supersedes all prior agreements and understandings, if any,
with respect to the guaranty by the Guarantor of the Guaranteed Obligations. No condition or
conditions precedent to the effectiveness of this Guaranty exist. This Guaranty shall be effective
upon execution by the Guarantor and delivery to the Administrative Agent. This Guaranty may not be
modified, amended or superseded except in a writing signed by the Administrative Agent and the
Guarantor referencing this Guaranty by its date and specifically identifying the portions hereof
that are to be modified, amended or superseded.

30. WAIVER OF JURY TRIAL. THE GUARANTOR AND THE ADMINISTRATIVE AGENT EACH WAIVE TRIAL BY
JURY IN RESPECT OF ANY DISPUTE AND ANY ACTION ON ANY DISPUTE. THIS WAIVER IS KNOWINGLY, WILLINGLY
AND VOLUNTARILY MADE BY THE GUARANTOR AND THE ADMINISTRATIVE AGENT, AND THE GUARANTOR AND THE
ADMINISTRATIVE AGENT HEREBY REPRESENT THAT NO REPRESENTATIONS OF FACT OR OPINION HAVE BEEN MADE BY
ANY PERSON OR ENTITY TO INDUCE THIS WAIVER OF TRIAL BY JURY OR TO IN ANY WAY MODIFY OR NULLIFY ITS
EFFECT. THIS PROVISION IS A MATERIAL INDUCEMENT FOR THE PARTIES ENTERING INTO THE LOAN DOCUMENTS.
THE GUARANTOR AND THE ADMINISTRATIVE AGENT ARE EACH HEREBY AUTHORIZED TO FILE A COPY OF THIS
SECTION IN ANY PROCEEDING AS CONCLUSIVE EVIDENCE OF THIS WAIVER OF JURY TRIAL. THE GUARANTOR
FURTHER REPRESENTS AND WARRANTS THAT IT HAS BEEN REPRESENTED IN THE SIGNING OF THIS GUARANTY AND IN
THE MAKING OF THIS WAIVER BY INDEPENDENT LEGAL COUNSEL, OR HAS HAD THE OPPORTUNITY TO BE
REPRESENTED BY INDEPENDENT LEGAL COUNSEL SELECTED OF ITS OWN FREE WILL, AND THAT IT HAS HAD THE
OPPORTUNITY TO DISCUSS THIS WAIVER WITH COUNSEL.

31. Credit Verification. Each legal entity and individual obligated on this Guaranty,
whether as a Guarantor, a general partner of a Guarantor or in any other capacity, hereby
authorizes the Administrative Agent to check any credit references and obtain credit reports from
credit reporting agencies of the Administrative Agent’s choice in connection with any monitoring,
collection or future transaction concerning the Loan, including any modification, extension or
renewal of the Loan. Also in connection with any such monitoring, collection or future
transaction, the Administrative Agent is hereby authorized to check credit references, verify
employment and obtain a third party credit report for the spouse of any married person obligated on
this Guaranty, if such person lives in a community property state.

THE LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE
CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES.
THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

[SIGNATURE PAGE FOLLOWS]

IN WITNESS WHEREOF, the Guarantor duly executed this Guaranty under seal as of the date
first written above.

GUARANTOR:

GRUBB & ELLIS HEALTHCARE REIT II, INC.,

a Maryland corporation

By: Shannon K S Johnson

Name: Shannon K S Johnson

Title: Chief Financial Officer

	 	 	 
	Address of Guarantor:

	 	

	c/o Grubb & Ellis Equity Advisors, LLC

	1551 North Tustin Avenue, Suite 300

	Santa Ana, California 92705

	Attention: Danny Prosky, President & COO

	Fax No.: (714) 975-2199

Address of Lender:

	 	

	Bank of America, N.A.

	 	

	135 South LaSalle Street, 12th Floor

	Chicago, Illinois 60603

	 	

	Attention: Michelle Herrick

	Fax No.: (312)

	 	904-6392

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