Document:

Property Management and Leasing Agreement

 Exhibit 10.16 
 PROPERTY MANAGEMENT AND LEASING AGREEMENT 
 THIS AGREEMENT
(this “Agreement”) is made as of the 16th day of August, 2013 (the “Effective Date”), by and between CHP LINCOLN PLAZA AZ MOB OWNER, LLC, a Delaware limited liability company
(“Owner”), and HOLLADAY PROPERTY SERVICES MIDWEST, INC., an Indiana corporation doing business as Holladay Property Services (“Manager”). 

RECITALS: 

A. Owner holds a ground lease interests in certain real property known located at John C. Lincoln Medical Plazas I and II at 9225 and
9327 North Third Street in Phoenix, Arizona and more particularly described in Exhibit A attached hereto and by this reference incorporated herein (the “Property”) 

B. Owner desires to retain Manager as property manager for the Property. 

C. Manager desires to be property manager for the Property. 
 D. Owner and Manager desire to set forth the understandings and agreements between them with respect to the services to be performed by Manager, the compensation to be paid to Manager and other matters
relating thereto. 
 NOW, THEREFORE, in consideration of the mutual covenants hereinafter set forth and other good and
valuable consideration and the compensation to be paid as set forth herein, Manager and Owner agree for themselves and their respective successors and assigns as follows: 

 

	1.	APPOINTMENT OF MANAGER 

Owner appoints and employs Manager as Owner’s sole and exclusive agent for the purposes of leasing, managing and operating the
Property, all in accordance with this Agreement, and Manager accepts such appointment in accordance with this Agreement. 
  

	2.	TERM OF AGREEMENT 

 (a)
The initial term of this Agreement shall commence with respect to the Property on the Effective Date (the “Commencement Date”) and shall end on the anniversary of the Commencement Date (the “Initial
Term”). Manager shall begin performing its duties under this Agreement on the Commencement Date. Unless this Agreement is terminated by either party upon not less than sixty (60) days’ written notice prior to the expiration of
the Initial Term or any Extended Term, the term of this Agreement shall automatically renew and continue in force after the expiration of the Initial Term or any successive term hereunder, upon the same conditions set forth herein, for a successive
term or terms, each one (1) year in duration (each an “Extended Term”). “Term”, “term of this Agreement”, or any other similar phrases used in this Agreement, shall be
deemed to include, unless otherwise provided, the Initial Term and each Extended Term, and any other renewals or extensions of this Agreement. 

  
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	3.	SERVICES TO BE PROVIDED BY MANAGER AND MANAGER’S RESPONSIBILITIES 

 

	3.1	General Responsibility. 

Manager, on behalf of Owner, shall lease, rent, manage, operate and maintain the Property in accordance with the terms of this Agreement
and the “MOB Policies” (as defined in Section 24) and in accordance with the management plans, budgets and benchmark standards established by Owner, and Manager shall comply with, implement or cause to be implemented the
decisions and instructions of Owner with respect to the Property. 
  

	3.2	Intentionally Omitted. 

  

	3.3	Compliance with Laws. 

(a) Manager shall keep informed of applicable laws, ordinances, regulations, rules and orders applicable to Manager in the performance of
its responsibilities and services, and Manager agrees that it shall comply with applicable laws in performing services pursuant to this Agreement. 
 (b) To the extent permitted under the approved “Operating Budget” (as defined in Section 3.5 hereof) for each calendar year and, when not so permitted, following written
authorization from Owner, Manager shall promptly remedy any violation of any law, ordinance, rule, regulation or order relating to the use, operation, repair and maintenance of the Property, except in cases where Owner has notified Manager in
writing of its contest of or its intention to contest such law, ordinance, rule, regulation or order. 
 (c) Manager shall make
recommendations concerning, and assist in the initiation of, property tax appeals with respect to the Property on an as needed basis. 
  

	3.4	Compliance with Agreements. 

 Manager covenants and agrees to perform all of the obligations and duties to be performed under this Agreement and under all leases, agreements, instruments or documents (including, without limitation,
ground leases, leases, mortgages, deeds of trust, covenants, conditions, restrictions, easements and other Encumbrances) affecting the Property (collectively, the “Property Documents”) and comply with all terms and conditions
contained in any such Property Documents, subject to Owner providing copies of such Property Documents to Manager. 
  

	3.5	Budgets. 

  

	 	3.5.1	Approved Budgets. 

 (a) By not later than August 31, 2013, and thereafter at least 120 days prior to the beginning of each fiscal year of Owner (which ends on December 31st of each year) (“Fiscal Year”), Manager shall
prepare and submit to Owner for approval the following: 

  
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 (i) Operating Budget. An annual budget for operating, repairing,
maintaining, marketing, and where applicable, the promoting and leasing of the Property, including projection of monthly income with respect to the Property and disbursements with respect to Property Expenses for the forthcoming Fiscal Year in such
format as prescribed in writing by Owner (an “Operating Budget”). The Operating Budget shall be accompanied by a listing, by name, position, function and the amount of time devoted to the Property of the “On-Site Employees” (as defined in Section 3.11 hereof) of employees of Manager who will perform duties in connection with the performance of this Agreement. 

(ii) Capital Budget. An annual budget and projection of capital or extraordinary expenditures for the forthcoming
Fiscal Year for the Property in such format as is prescribed in writing by Owner (the “Capital Budget”). 
 (b) Until an Operating Budget and a Capital Budget have been approved in writing by Owner, Manager shall not incur or otherwise expend funds in excess of the amounts set forth on the approved Operating
Budget and Capital Budget for the immediately preceding year, if any. Notwithstanding any provision of this Agreement seemingly to the contrary, Manager shall comply with such approval policies, processes, and procedures as Owner may from time to
time impose or require as a prerequisite to making an expenditure, even if the expenditure is included in the Approved Budgets. 
  

	 	3.5.2	Compliance with Operating Budgets. 

 Manager shall keep aggregated expenditures to the extent particular expenditures are reasonably controllable by Manager, within the Operating Budget. Manager shall obtain the prior written approval of
Owner for any expenditure that will result in (a) an excess of the greater of (i) five percent (5%) for any single expense category or line item, or (ii) $5,000.00; or (b) the total expense budget of the Operating Budget for
the Property to be exceeded by more than four percent (4%) of the total expense budget of current year’s Operating Budget, except for emergency expenditures. 
  

	3.6	Leasing and Tenants. 

  

	 	3.6.3	Standard Business and Lease Terms. 

 Manager shall annually prepare for the Property in accordance with the instructions, policies and procedures set forth in the MOB Policies (or, if applicable, with instructions otherwise provided by Owner
to Manager via electronic mail or other writing), the standard business and lease terms to be used for the “Space Leases” (as defined in Section 3.6.4) in order to ensure that the rent, operating expenses and other sums
payable under such Space Leases are consistent with fair market value (as determined without taking into account the value of any referrals made between the parties to such lease), and in order to ensure that the terms of such Space Leases are
commercially reasonable. The standard business and lease terms for the Property prepared by Manager shall be based in part on the most current Market Rent Survey (as defined herein) prepared by Manager and shall set forth for the Property such terms
as Owner may reasonably request. The standard business and lease terms approved by Owner for the 

  
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Property in accordance with the MOB Policies shall be referred to herein as the “Standard Business and Lease Terms” for the Property. Manager will maintain a permanent
file of all the Standard Business and Lease Terms for the Property. 
  

	 	3.6.4	Leasing. 

 Manager shall
provide marketing and leasing services as described in Section 3.6.2(a) below (using its best efforts to lease as much space as possible as expeditiously as possible to creditworthy tenants, and on lease terms, acceptable to Owner) and, at
Owner’s option exercised from time to time by the written request of Owner, tenant improvement work services as described in Section 3.6.4(b) below with respect to the Property. Manager shall commence the provision of tenant improvement
work services on the date specified in the request. 
 (b) Marketing and Leasing. Manager shall perform the following
services in connection with the marketing and leasing of the Property: 
 (i) Advertise (or cause to be
advertised) for rent or lease, those parts of the Property available for rent, subject to Owner’s prior approval of the form, content, time and placement location of each advertisement. 

(ii) Solicit, negotiate, and cause to be prepared new leases of space in the Property as well as renewals or extensions of
leases (“Space Leases”) in accordance with the following requirements: 
 (1) Manager
shall use its best efforts to ensure that the Space Leases contain rental rates that are at the highest possible rental rate consistent with the then current general state of the commercial real estate market in the area in which the Property is
located. 
 (2) Unless otherwise approved in accordance with this Agreement, all Space Leases (A) shall be
on Owner’s standard form of lease/rental agreement as prescribed by Owner from time to time (the “Standard Lease Forms”); (B) shall be in conformity with the then current Standard Business and Lease Terms; and
(C) shall comply with the “Referral Source Lease Requirements” (as defined below) if the Space Lease is to a physician tenant or other referral source. “Referral Source Lease Requirements” shall
mean the requirements that all leases to physician tenants or other referral sources must be in writing, and shall provide for rental payments that are not less than the fair market rental value of the premises leased, provide for a lease term not
less than one year, cover no more space than is reasonably necessary for the legitimate business use and purposes of the tenant, provide for a pass through of a prorata share of operating expenses and shall otherwise be on commercially reasonable
terms. 
 (3) All Space Leases will be reviewed and, subject to Owner’s approval of such Space Leases in
Owner’s sole and absolute discretion, executed by an authorized officer of Owner. 

  
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 (4) Prior to preparation of any Space Lease, Manager shall submit to Owner a
completed space lease proposal in the form then prescribed by the MOB Policies, and Manager shall have received a copy of such completed form signed by all parties whose approval is required pursuant to the MOB Policies. All Space Leases shall be
prepared by Manager in accordance with the approved space lease proposal. 
 (5) The leasing commissions to be
paid to Manager by Owner for leases with new tenants and lease renewals or extensions are set forth in Exhibit B. 
 (c) Tenant Improvement Work. Manager agrees, upon execution of a Space Lease, to coordinate all tenant improvement work contemplated by such Space Leases, and if requested by Owner, Manager agrees
to manage the design and construction of all tenant improvement work in accordance with Exhibit C. Manager also agrees to plan and coordinate the move-in and
move-out of tenants. Owner shall pay Manager for its management services in the design and construction of all tenant improvement work the fee set forth in Exhibit B. Manager shall not take or
fail to take any action in connection with the build-out of tenant space in the Property which would cause any of the Property to be in violation of any fire, health, safety or building codes, laws, ordinances, rules or regulations governing the
Property. 
  

	 	3.6.5	Tenant Relations. 

Manager agrees to perform, at a minimum, all of the following services in connection with tenant relations. 

(d) Bill and collect, on behalf of Owner, all rents and other charges due from the tenants in accordance with 3.6.6(a). 

(e) Perform all delegable duties of the landlord under each Space Lease so that each Space Lease remains in full force and effect and so
that no claim of default is made against Owner as landlord. 
 (f) Exercise its best efforts to ensure full performance by
tenants of all of their obligations, periodically inspect the Property as reasonably necessary or desirable, and, where appropriate, make demands on any tenants who have not performed such obligations to do so. 

(g) Submit, quarterly (or more often, if Owner so requests), Property inspection reports on forms provided by Owner. 

(h) Upon termination of Space Leases, inspect the premises and, if appropriate and applicable, refund the security deposits of the
tenant. 
 (i) Notify all tenants of all rules, regulations and notices as may be promulgated by Owner, governing bodies and
insurance carriers. 
 (j) Use best efforts to enforce compliance with the rules and regulations of Owner, governing bodies,
insurance carriers and association rules applicable to tenants and the Property. 

  
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Manager shall not knowingly permit the use of the Property for any purposes except for uses permitted pursuant to the applicable Space Lease. Manager agrees not to knowingly permit the use of the
Property for any purpose that might void any policy of insurance or that might render any loss under the insurance policy uncollectible or that would violate any governmental restriction. 

(k) Maintain businesslike relations with tenants, receive requests, complaints and the like from tenants, respond and act upon the
foregoing in reasonable fashion. 
 (l) Maintain, for Owner’s inspection, a record of the action taken with respect to all
of the foregoing. 
  

	 	3.6.6	Rent Collection and Operating Costs. 

 (m) On behalf of Owner, Manager shall bill all rents, deposits, operating costs reimbursements, fees and other sums and charges due from the tenants of the Property and Manager shall use its best efforts
to collect all rents, deposits, operating costs reimbursements, fees and other sums and charges due from the tenants of the Property or otherwise payable with respect to the Property. Manager shall not commingle any of the receipts or revenues from
the Property with Manager’s own funds or funds from any property not subject to this Agreement. Manager shall collect and identify any income due Owner from miscellaneous services provided to tenants or the public including, but not limited to,
parking income, tenant storage and coin operated machines of all types. All monies so collected shall be deposited as provided in Section 7. 
 (n) Manager shall calculate the amount of operating costs and expenses for the Property so as to determine the amount thereof payable by the tenants under the Space Leases for the Property. Furthermore,
Manager shall review each Space Lease to determine if all categories of permitted operating costs under such Space Lease are being charged to the tenant under such Space Lease and Manager shall notify Owner in writing of any material deviation
between the amount of operating costs charged to a tenant and the amount permitted to be charged under the Space Lease. 
 (o)
Manager shall calculate the amount of any periodic rent adjustment under each Space Lease and shall notify the tenant under such Space Lease and Owner of the amount of any such adjustment not less than ten (10) days prior to the effective date
of such adjustment, but in any event, upon such advance notice as may be required pursuant to the terms of such Space Lease. 

  
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	 	3.6.7	Tenant Defaults. 

 Manager
shall not terminate any Tenant Lease or other occupancy agreement, lock out any tenant or occupant, utilize a collection agency, institute any suit for rent or for use and occupancy, or proceedings for recovery of possession, without the prior
written approval of Owner. In connection with such suits or proceedings, only legal counsel designated by Owner shall be used. All legal expenses incurred in bringing and prosecuting such approved suit or proceeding shall be approved by Owner prior
to payment by Manager. Manager shall not write off any income items without Owner’s prior written approval. 
  

	 	3.6.8	Rent Payment Histories. 

Manager shall maintain timely and accurate payment history data in Owner’s accounting database from which Owner can obtain
information regarding all past due or delinquent payments of rent, deposits, operating costs reimbursements, fees and other sums and charges payable with respect to the Property. 

 

	3.7	Inspections, Maintenance and Repairs. 

  

	 	3.7.9	Property Inspections. 

Manager shall inspect the Property as frequently as Manager determines appropriate, but in no event less frequently than quarterly. In
conducting its inspections, Manager shall follow an inspection checklist approved in writing by Owner. Manager shall provide Owner a written report of inspection results within ten (10) days after each inspection is completed, or sooner if
conditions (such as the existence of any condition which would reasonably be expected to result to harm or injury to any person or property) so warrant. 
  

	 	3.7.10	Repairs. 

 Manager shall
keep the Property and all parts thereof in a clean and presentable condition. Manager shall attend to and supervise all ordinary and extraordinary repairs, decorations, replacements, additions, alterations and landscaping necessary or advisable for
the proper and safe operation of the Property, perform Owner’s obligations under any lease or agreement and comply with all governmental or insurance requirements applicable to Owner, all of which however shall be subject to the limits of the
approved Operating Budget (provided, however, that Manager shall promptly notify Owner if Manager is unable to fulfill any of the foregoing functions because of any such budgetary limitations). All work performed pursuant to this Section shall be
done in a good and workmanlike manner using building materials in conformity with the standards established by Owner. Manager is responsible for the making and supervision of all ordinary and extraordinary repairs, decorations and alterations;
however, no single expenditure made for these purposes shall exceed $10,000 without prior written approval of Owner. The foregoing notwithstanding, even though Owner has approved the Property’s annual Operating Budget, Owner still has an
additional right of approval with respect to individual expenditures exceeding this limit. 

  
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	 	3.7.11	Emergency. 

 In the event
maintenance or repairs are immediately necessary for the preservation and safety of the Property or persons thereon, or to avoid the suspension of any essential service to the Property, or to avoid harm, danger or loss to life, limb or property,
Manager shall immediately perform such maintenance or repair and may make expenditures for such emergency repairs which exceed the amount set forth in Section 3.7.10 without prior written approval of Owner. Manager, however, must inform Owner
of any such expenditures and the reasons therefor before the close of the next business day. If Owner does not in good faith deem such expenditures reasonable, Manager shall be responsible for any cost in excess of Owner’s good faith
determination of a reasonable cost for such emergency repairs. 
  

	 	3.7.12	Capital Expenditures. 

The Capital Budget shall not constitute an authorization by Owner for Manager to expend any money. All capital expenditures must be
specifically authorized in writing by Owner. With respect to the purchase and installation of major items of new or replacement equipment (including, without limitation, elevators, HVAC, appliances, furniture and furnishings or floor coverings,
etc.), Manager shall comply in all regards with Owner’s capital asset policies set forth in the MOB Policies, as such may be updated by Owner from time to time. 
  

	3.8	Service Contracts. 

  

	 	3.8.13	Service Contracts. 

Manager shall contract for all labor, materials and services required for the management, operation and upkeep of the Property in
Manager’s own name, or, if Manager so elects by written notice to Owner, in Owner’s name. If Owner prefers to sign all such contracts, Manager shall negotiate such contracts and present them to Owner for execution. Unless otherwise
directed by Owner in an electronic mail, the MOB Policies, or other writing, Manager shall submit for competitive bidding all contracts for services to the Property which (a) call for the payments of more than $1,500 per month for a period of
more than six (6) months; (b) call for a single payment of more than $5,000; or (c) have a total contract sum more than $10,000. All contracts for labor, materials and services must be submitted to Owner for approval. If Manager
obtains any volume discounts because of its purchasing power, Manager shall pass the benefit of such discounts on to Owner. Manager shall not enter into any contract with officers, employees, shareholders or Affiliates of Manager or anyone related
to such employees, officers or affiliates without Owner’s prior written consent in accordance with Section 15. None of the following shall be vendors or contractors: (i) the directors, officers or employees of Owner or (ii) any
family member of any such director, officer or employee. As used herein, “family member” means parent, spouse, child, brother or sister. Manager shall not enter into any contract with any Affiliate of Manager unless such
contract has been competitively bid, and the bid of Manager’s Affiliate was the lowest bid; such Affiliate is capable of performing the contracted services; and Manager has complied with Section 15 with regard to such contract. Each
service contract shall: 
 (b) be in the name of Manager or Owner, as applicable; 

  
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 (c) if not in Owner’s name, be assignable, at Owner’s option, to
Owner or Owner’s nominee; 
 (d) be for a term of not more than 12 months; 

(e) include a provision for cancellation thereof by Owner or Manager upon not less than 30 days written notice;

 (f) will require that the contractor/vendor provide evidence of insurance that satisfies Section 4.1
below; 
 (g) set forth the contractor’s tax ID number; 

(h) if obtainable through reasonable best efforts, include the vendor’s agreement to indemnify and defend (through
counsel acceptable to Owner or Manager as the case may be) Manager, and Owner and its Affiliates against any claims or liabilities arising out of or alleged to arise out of, or connected with, any negligent acts or omissions of such
contractor/vendor or against liens arising in connection with the contractor/vendor’s work; and 
 (i)
provide that the contractor’s or vendor’s insurance shall be primary as to the insurance of Owner and Manager with respect to any claims or liabilities arising out of or alleged to arise out of, or connected with, any acts or omissions of
such contractor or vendor. 
  

	 	3.8.14	Service Providers/Competitive Bidding. 

 (b) Throughout the term of this Agreement and any extensions, Owner may provide Manager with current lists of approved vendors of certain services in the geographical area in which the Property is
located. If such lists are provided, Manager shall use those vendors unless otherwise directed by Owner in writing. Notwithstanding that such lists of approved vendors are provided to Manager by Owner, Manager shall competitively bid such services
as required by this Agreement, and notify Owner if such services may be obtained from non-approved vendors more cost-effectively. If Owner requires Manager to contract with an approved vendor despite the higher fees charged by such vendor and such
higher charge results in an expenditure in excess of the agreed upon percentage of the annual budgeted amount in any accounting category of the Operating Budget (pursuant to Section 3.5.1), such excess expenditure shall be considered approved
by Owner. Nothing in this Section, however, shall be construed as relieving Manager of its obligation to negotiate the most cost beneficial contract possible with any vendor designated by Owner. If Owner has not designated a vendor, Manager must
provide the best value for performance of these services through sealed competitive bidding or negotiation as required by this Agreement. 
 (c) If this Agreement terminates as provided for herein, Manager shall, at Owner’s option, assign to Owner or to Owner’s nominee all service agreements pertaining to the Property. 

  
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	3.9	Property Information Package. 

 Upon request by Owner from time to time, Manager shall assist Owner in preparing a property information package for the Property, to be used by Owner for any purpose including, but not limited to, the
sale of the Property. The property information package shall consist of those items set forth on Exhibit D attached hereto requested by Owner. 
  

	3.10	Strategic Advisory Services and Surveys/Polls. 

 If requested by Owner, Manager shall provide recommendations to Owner concerning the development of, and shall assist Owner in developing, annual strategic plans in connection with the Property. Manager
shall coordinate the implementation of the annual strategic plans at the Property. If requested by Owner, Manager shall participate in and cause its employees to participate in meetings, trainings and property manager surveys or polls conducted by
Owner. If requested by Owner, Manager shall administer, distribute, coordinate and collect responses to tenant surveys or polls conducted by Owner. 
  

	3.11	Manager’s Employees. 

  

	 	3.11.15	Supervision. 

 Manager
shall hire, employ, pay and supervise all of Manager’s employees who deal with the Property, and if required by Owner, a manager for on-site supervision and management of the Property. Manager must at all
times enforce strict discipline and good order among its personnel and other agents. Manager shall be responsible for the hiring and retention and termination of all employees relating to management of the Property. 

 

	 	3.11.16	Employees/Independent Contractor; Use of Owner’s Employees. 

 (b) Manager shall employ at all times a sufficient number of capable employees to enable it to properly, adequately, safely and economically lease, manage, operate, maintain and account for the Property.
All matters pertaining to the employment, supervision, compensation, promotion and discharge of these employees are the responsibility of, and shall be determined by Manager, which shall be in all respects the employer of these employees. Manager
represents that it is and will continue to be an equal opportunity employer and shall advertise itself as such. This Agreement is not one of employment of the Manager by Owner, but one with the Manager engaged independently in the business of
managing commercial Property on Manager’s own behalf as an independent contractor. All employment arrangements are therefore between Manager and its employees. 
 (c) Manager must comply with all applicable laws and regulations and contracts including, without limitation, those concerning worker’s compensation, social security, unemployment insurance, working
conditions, hiring, termination, equal employment, hours of work, rates and payment of compensation, and the payment, reporting, collection and withholding of all taxes and similar contributions, the Immigration Reform and Control Act of 1986, and
other employer/employee related matters. Manager will negotiate with any union lawfully entitled to represent its employees and may execute solely in its own name, and not as agent for Owner, collective bargaining agreements or labor contracts
resulting therefrom. If any 

  
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negotiations will impact the Property, all such negotiations must be disclosed to Owner in writing as soon as is reasonably practical identifying the potential impact to the Property and shall be
subject to the approval of Owner, in Owner’s sole and absolute discretion. Manager agrees not to participate in or encourage any cessation of the services which may occur as a result of any labor dispute; however, Manager may participate in
lawful negotiations. Owner and its Affiliates may award contracts and employ labor without regard to whether other contractors or laborers are members or non-members of any labor organization. Manager shall
use reasonable best efforts to ensure that no dispute between it and any labor organization will occur or be manifested at or near the Property. Manager agrees to use reasonable good faith efforts to employ personnel and other agents who will work
at all times in harmony with personnel of Owner and its Affiliates and their respective contractors and agents. 
  

	 	3.11.17	Schedule of Employees. 

Manager shall provide for the Property a schedule of the number, job classification and identity of the employees of Manager in the form
set forth in Exhibit E attached (the “Employee Schedule”) to be employed in the direct management, operation or maintenance of the Property who shall include, but not be limited to, those employees of Manager whose salaries
may, from time to time, be charged prorata to the Property for direct management, operation and maintenance services rendered at the Property less than full time. This Schedule will include: 

(b) the number of employees and their title and salary range; and 
 (c) shall also indicate which employees are bonded or are covered under the Manager's commercial crime insurance policy. 
 Employees whose salaries are eligible to be charged prorata shall be: (i) “on site” employees who work or provide management, operation or maintenance services at the Property on a full
time or part time basis (“On-Site Employees”); and (ii) employees who do not work “on site” at the Property, but who work exclusively in providing management, operation or maintenance services for the Property
which have been approved in writing by Owner's authorized representative as a reimbursable expense (“Off-Site Reimbursable Employees”). Employees whose salaries may not be charged prorata or otherwise include, but are not
limited to, general management, administrative and clerical personnel, accountants, auditors and property managers not providing services at the Property on a full time or part time basis, and all other employees of Manager who are not On-Site
Employees or Off-Site Reimbursable Employees. Manager shall revise the Employee Schedule annually in connection with the preparation of the Operating Budget for the following year. 

  
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	3.12	Protection of REIT Status. 

Manager acknowledges that CNL Healthcare Properties, Inc., a Maryland corporation (“CNL REIT”) and an indirect
owner of Owner, has elected to be treated as a real estate investment trust (a “REIT”) within the meaning of Sections 856 through 860 of the Internal Revenue Code of 1986, as amended (the “Code”), and
Manager agrees that without the prior written consent of Owner (which may be given or withheld in Owner’s sole discretion), it will not (a) accept, or cause or allow to be earned, any rents or license fees or other amounts to be paid by a
tenant or occupant at the Property that would be based, in whole or in part, on the income or profits derived by the business activities of such tenant or occupant, (b) furnish or render any services to a tenant or occupant at the Property
other than services customarily furnished or rendered in connection with the rental of real property of a similar class in the geographic market in which the Property is located, (c) lease or license space to any person in which Owner or CNL
REIT owns a ten percent (10%) or greater interest, directly or indirectly (by applying the constructive ownership rules set forth in Section 856(d)(5) of the Code), or (d) accept, or cause or allow to be earned, any payments or other
amounts which would fail to qualify as “rents from real property” as described in Section 856(d) of the Code. Accordingly, Manager shall not provide any services giving rise to such non qualifying income and shall not provide or allow
to be provided by others any new services related to the Property without the prior written consent of Owner, which consent may be withheld in Owner’s sole discretion. In the event Owner consents to the provision of any non-customary services
by Manager to any tenant or licensee of the Property, such services shall be provided by Manager at competitive rates and for its own account and neither Owner nor CNL REIT, directly or indirectly, shall participate in the collection of or share in
the revenues or profits derived from such services. Without limiting the generality of the foregoing, with respect to any of the services to be rendered by Manager for the Property, Manager agrees that it will not enter into any subcontract with or
otherwise engage the services of any person from whom Owner or CNL REIT, directly or indirectly, derives any revenue (including, for example, from a tenant of the Property), without the prior written consent of Owner. Manager further represents and
warrants that neither Owner nor CNL REIT, directly or indirectly, derives any revenue from Manager, except for rent paid by Manager to occupy Management Space to manage the Property, which space shall be used solely for the management of the
Property. 
  

	3.13	Transition Services. 

 By
not later than ninety (90) days after the Effective Date, Manager shall perform and complete the “Transition Services” for the Property as described in Exhibit F attached hereto in order to achieve the
transition of management of the Property to Manager. Manager shall be entitled to receive an additional fee for providing Transition Services in the amount of $1,000.00. 

 

	4.	INSURANCE 

  

	4.1	Insurance. 

 Owner and
Manager shall procure and maintain (as further described herein) upon commencement of Manager’s services under this Agreement, as an Property Expense and subject to Owner’s approval, all insurance policies and requirements as provided in
Exhibit H to this 

  
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Agreement. The carrier, total insurable values, and the various coverage types and limits of each policy of insurance must be acceptable to Owner in its sole and commercially reasonable
discretion. Manager (and its officers, directors, employees and agents) shall be designated as a named insured under each insurance policy procured by Manager. All of Owner’s policies will include waivers of all rights of subrogation against
Manager for any and all property damage that may occur on or with respect to the Property from whatever cause except for such claims arising out of Manager’s gross negligence or willful misconduct. Such policies, with the exception of
Workers’ Compensation, Employer’s Liability, Employee Dishonesty/Crime, Professional Liability and Employment Practices Liability, shall name Owner as an additional insured and Owner shall be a named insured and loss payee under any
required Property Insurance coverages. All deductibles, legal settlements and any other costs related to claims under the insurance policies required herein shall be Property Expenses. Upon thirty (30) days prior written notice to Manager, or
immediately upon Manager’s failure to procure the required insurance in accordance with this Agreement, Owner may elect, in its sole discretion, to procure and maintain as a Property Expense, any of the insurance policies required and set forth
under Exhibit H, except for Manager’s Workers’ Compensation and Employer’s Liability insurance policies. In the event Owner elects to procure directly any of the required insurance policies, then Owner shall be the named
insured under each policy and Manager shall be included as a named insured or additional insured as appropriate in Owner’s sole discretion. 
  

	4.2	Safe Workplace. 

 Manager
agrees to provide a safe and healthful workplace as required by applicable law. Manager shall conduct its work in compliance with the requirements of all federal, state and local regulatory entities, including but not limited to the Occupational
Safety and Health Administration and the Environmental Protection Agency. 
  

	4.3	Waiver of Liability/Subrogation. 

 Notwithstanding any provision of this Agreement to the contrary, each party hereto hereby waives any and every claim which arises or may arise in its favor and against the other party hereto during the
Term for any and all loss of, or damage to, any of its property located within or upon, or constituting a part of, the Property, which loss or damage is covered by valid and collectible property insurance policies, to the extent that such loss or
damage is recoverable under such policies. Said mutual waiver shall be in addition to, and not in limitation or derogation of, any other waiver or release contained in this Agreement with respect to any loss or damage to property of the parties
hereto. 
  

	5.	FINANCIAL REPORTING AND RECORD KEEPING 

  

	5.1	Books of Accounts. 

Manager agrees to maintain, at the address set forth in Section 17 of this Agreement, or such other place or places as Owner may
approve in advance and in writing, a comprehensive system of office records, books and accounts, including, without limitation, copies of all reports prepared pursuant to Sections 3 and 5, and any additional information or records required by Owner,
including such records and information required for the preparation of federal, state and 

  
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local tax returns, all in a manner reasonably satisfactory to Owner. Manager shall prepare all tax filings and returns relating to sales taxes, all taxes relating to real or personal property,
and taxes payable in connection with gross margins or revenues, all to the extent relating to the Property. Manager, however, shall not be responsible for preparation of Owner’s income or franchise tax returns. All entries must be supported by
sufficient documentation to show that such entries are properly and accurately recorded to the Property. Owner and others designated by Owner, including Owner’s auditors and accountants, shall have at all times access to and the right to audit
in accordance with Section 6 and make copies of such records, accounts and books and all vouchers, files, and all other material pertaining to the Property and this Agreement, all of which Manager shall keep safe, available, and separate from
any records not relating to the Property. Manager shall exercise sufficient control over accounting and financial transactions as is reasonably required to protect Owner’s and its Affiliates’ assets from theft, error or fraudulent activity
on the part of Manager’s associates or employees. Losses arising from such instances shall be borne by Manager and shall include, but not be limited to: 
 (a) Theft of assets by Manager’s agents or employees; 
 (b)
Penalties, interest, or loss of vendor discounts due to delay in payment of invoices, bills or other like charges, provided that there are sufficient funds in the Operating Account to pay the invoices, bills or other like charges; provided that all
required authorizations and approvals have been received by Manager. 
 (c) Overpayment or duplicate payment of
invoices arising from either fraud or error of Manager or any of its officers or employees, but only to the extent that such overpayments or duplicate payments are not recovered; 

(d) Overpayment of labor costs arising from either fraud or error of Manager or any of its officers or employees;

 (e) A sum equal to the value of any form of payment from contractors or vendors to Manager’s employees or
agents arising from the purchase of goods or services for the Property; and 
 (f) Unauthorized use of the
Property or facilities by Manager’s employees or agents. 
  

	5.2	Account Classification. 

Manager shall adopt Owner’s system of classification of accounting entries. 

 

	5.3	Monthly Reports. 

 By the fifth (5th) day of each month, or such other date as Owner may specify in writing, Manager shall prepare and deliver to Owner a monthly financial report (the “Monthly Report”) for the
Property in form and content acceptable to Owner in its sole discretion. The Monthly Report shall include the following: 
  

	 	•	 	 Rent Roll which reconciles to the rental income per the statement of operation 

  
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	 	•	 	 Income Statement 

  

	 	•	 	 Balance Sheet (trial balance sheet to be provided in Excel format) 

 

	 	•	 	 Re-Forecast Cash Flow through Year End 

 

	 	•	 	 Check Register 

  

	 	•	 	 Listing of capital expenditures with the amount spent in the current month and to date versus budget together with supporting documentation for such
expenditures 

  

	 	•	 	 FAS 13 (straight line rent) schedules. 

  

	 	•	 	 Budget comparison to actual expenditures, including capital expenditures, with variance explanations for any variance greater than plus or minus
(i) Ten Thousand Dollars ($10,000) or (ii) ten percent (10%) of any expense category line item in the annual budget. 

  

	 	•	 	 Accounts payable and accrued expenses schedules. 

  

	 	•	 	 Real estate tax and insurance schedules reconciling to the general ledger 

 

	 	•	 	 Aged delinquency reports reconciling to the general ledger along with comments on balances greater than 90 days old and any significant balances.

  

	 	•	 	 Security deposit listing reconciling to the general ledger. 

 

	 	•	 	 Management fee calculation schedule or any other payment made directly to the Manager. 

 

	 	•	 	 Listing of capital expenditures with the amount spent in the current month and to date versus budget. 

 

	 	•	 	 Narrative on the performance of the Property and any significant activities including, but not limited to, litigation. 

 

	 	•	 	 Bank reconciliations and supporting documents. 

  

	5.4	Annual Market Rent Survey. 

Manager shall annually prepare and provide Owner a market rent survey for the Property (the “Market Rent Survey”).
This survey shall include the Property’s competitive position within the market and projections of market rental rates together with comparable rental rates for other facilities within the Property’s market. Each annual Market Rent Survey
shall be prepared by Manager and submitted to Owner. Furthermore, Manager shall update the Market Rent Survey and submit such update to Owner in the event of a material change in the local office space market that affects market rental rates.

  
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	5.5	Other Reports. 

 Manager shall provide Owner annually on or before
March 15th of each year with such other reports as
Owner may reasonably request, including but not limited to: 
 (a) An occupancy report on the Property including
the amount of space absorbed and projected lease turnover for the coming year. 
 (b) A capital improvement
report which shall include a narrative on capital improvements, if any, made to the Property during the year and anticipated capital improvement needs for the coming year together with a cost projection for the same. 

(c) A narrative summary on the status of the Property which shall provide detailed information on how the Property is
operating in comparison to other facilities within the same market. 
 (d) A summary of all leasing activity
during the prior year, including current rent roll, lease expirations, lease executions, new lease commencement dates, lease renewals, expansions, and for the upcoming calendar year, projected lease expirations, lease renewals and expansions and new
lease execution and commencement dates. 
 (e) A marketing plan for leasing vacant space. 

(f) A report of all anticipated leasing activities for the coming year, together with a schedule of all projected tenant
improvement and leasing commission costs associated therewith. 
 (g) Yearly REIT checklist to be completed by
manager to ensure that the income generated by the property adheres to REIT standards (if applicable). 
 In addition,
Manager shall (i) on or before the fifteenth
(15th) of March, June, September and January provide
Owner for the quarters ending February 28th (or
29th, as applicable), May 31st, August 31st and December 31st, respectively, (A) quarterly balance sheet reconciliations and
support for the months, respectively, and (b) quarterly schedule supporting the components of miscellaneous income on the general ledger including how its generated; and (ii) on or before the March 15th of each year, and as otherwise requested by Owner from time to time,
deliver to Owner a completed Office Property Services Questionnaire in the form attached hereto as Exhibit G. 
  

	5.6	Accounting Principles. 

All financial statements and reports required by Owner shall be prepared on an accrual basis in accordance with GAAP. 

  
 -16-

	5.7	Books and Records. 

Manager shall maintain adequate and complete books and records, papers, accounts, contracts, files, including complete and current files
of all leases for the Property, all of which shall be the property of Owner and Owner shall have access to the same at all reasonable times. Accounting records shall be kept and maintained on Manager’s property management software. Throughout
the term of this Agreement, Manager shall keep and maintain all of its books and records in such manner as will permit the preparation of certified audited financial statements in accordance with GAAP. Without limiting the foregoing, throughout the
term of this Agreement Manager shall keep and maintain all of its books and records in such manner, and shall deliver to Owner such reports as requested by Owner, as will permit Owner to meet its reporting requirements under securities laws,
including, without limitation, the Sarbanes-Oxley Act. 
  

	6.	OWNER’S RIGHT TO AUDIT 

 Upon reasonable notice and during normal business hours, Owner shall have access to Manager’s books and records relating to the Property and shall have the right to audit such books and records
during the period of this Agreement and for a period of five (5) years after termination of this Agreement. Owner also reserves the right upon reasonable notice and during business hours to perform any and all additional audits relating to
Manager’s activities either at the Property or at Manager’s office located at 1508 Elm Hill Pike, Suite 100, Nashville, Tennessee. If Owner’s employees or appointees discover either weaknesses in internal control or errors in record
keeping, Manager shall correct such discrepancies either upon discovery or within a reasonable period of time. Manager shall inform Owner in writing of the action taken to correct such audit discrepancies. Any and all such audits conducted either by
Owner’s employees or appointees shall be at the sole expense of Owner. However, if an audit reveals any errors in record keeping or any misappropriation of funds by Manager, its agents or employees or if the audit reveals that the net cash flow
from the Property for the period audited exceeded the net cash flow reported by Manager in the Monthly Reports for such period by 3%, the cost of the audit shall be borne by Manager. Owner’s right to require Manager to pay the cost of audit
under these circumstances shall be in addition to any other rights or remedies that Owner may have under this Agreement or in law or equity. 
  

	7.	COLLECTIONS AND DISBURSEMENTS 

 Manager, with Owner’s prior approval and direction as to the account(s) and financial institution, shall set up the Operating Account in Owner’s name, with Manager having signatory authority.
Manager shall deposit all collections (including, but not limited to, Property rent) and receipts of any kind into the Operating Account in accordance with such procedures as Owner may establish via the MOB Policies. Manager shall pay directly from
the Operating Account any and all expenditures in accordance with the approved Operating Budget, provided that Manager shall secure Owners approval for all expenditures in excess of $10,000.00 for any one item of operation, except for utilities and
such specific monthly and recurring operation and maintenance items which are listed in the approved Operating Budget and for items which would be deemed an emergency and required for maintaining tenancy, but provided Manager will take diligence to
contact Owner for approval in the event of an emergency. Manager shall be responsible for any expenses that were not authorized under this Agreement. 

  
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	8.	COSTS PAID BY MANAGER 

Manager shall incur and pay the following expenses subject to the conditions set forth herein, after obtaining any and all consents,
approvals or authorizations of Owner required hereunder: 
 (a) Actual costs preapproved by Owner in writing to
comply with or correct any violation of federal, state and municipal laws, ordinances, regulations and orders relative to the leasing, use, repair and maintenance of the Property, or relating to the rules, regulations or orders of the local board of
fire underwriters or other similar body, provided such cost is not the result of Manager’s negligence; 

(b) Actual cost of making all repairs, decorations and alterations provided such cost is not the result of Manager’s
negligence; 
 (c) Costs incurred by Manager in connection with all service contracts and agreements permitted to
be entered into by Manager pursuant to this Agreement or otherwise approved of by Owner in accordance with Section 3.8.13; 
 (d) Costs of collection of delinquent rentals collected through a collection agency which has been approved in writing in advance by Owner for specific delinquent rentals; 

(e) Legal fees provided such attorneys have been approved and designated to handle the matter giving rise to such legal
fees in accordance with Section 3.6.7 by Owner in writing, and the specific amount of such attorney’s fee has been approved by Owner in accordance with Section 3.6.7 in writing in advance of payment; 

(f) Costs of utilities; 
 (g) Costs of stationary forms, ledgers, and other supplies and equipment used in Manager’s offices to the extent directly applicable to managing the Property in accordance with this Agreement;

 (h) Cost of advertising brochures and other marketing materials approved by Owner, which approval may be
withheld in Owner’s sole discretion; 
 (i) Reasonable cost of meals and travel expenses, to the extent
approved by Owner, for Manager’s senior management personnel for attendance at quarterly meetings in accordance with Section 16.1. 
 (j) Cost of business licenses required for the legal operation of the Property; 
 (k) Gross salaries, payroll taxes, insurance, worker’s compensation, and other benefits with respect to the On-Site Employees and Off-Site Reimbursable
Employees, but only to the extent the same are eligible to be charged to the Property pursuant to Section 3.11.3; and 
 (l) Any other Valid Property Expenses. 

  
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 The items set forth in Section 8(i) will be disbursed in the form of reimbursement to Manager or one of
its Affiliates for such costs paid by it or such Affiliate with respect to On-Site Employees or Off-Site Reimbursable Employees. Manager shall not make or be entitled to any reimbursement to itself without Owner’s prior written approval in each
instance. 
  

	9.	COSTS THAT ARE NOT REIMBURSED 

 The following expenses or costs incurred by, or on behalf of Manager, in connection with the management, operation and leasing of the Property or in connection with the operation of Manager’s
business shall be at the sole cost and expense of Manager and shall not be reimbursed by Owner unless otherwise approved in writing by Owner: 
 (a) Payroll taxes, insurance, worker’s compensation, and other employee benefits granted to any On-Site Employee or Off-Site Reimbursable Employee in excess of
the amount set forth in the then current approved Operating Budget; 
 (b) Costs of gross salary and wages,
payroll taxes, insurance, worker’s compensation, pension benefits, and other benefits of any of Manager’s employees or other personnel, other than On-Site Employees or Off-Site Reimbursable Employees to the extent specified in
Section 3.11.17; 
 (c) General accounting and reporting services, to the extent these services are within
the reasonable scope of Manager’s responsibility to Owner under this Agreement; 
 (d) Costs of all bonuses,
incentive compensation, profit sharing, or any pay advances by Manager to Manager’s employees, except for such costs paid to or for the account of On-Site Employees or Off-Site Reimbursable Employees to the extent approved under the then
current approved Operating Budget; 
 (e) Costs attributable to losses arising from criminal acts or from
negligence or fraud on the part of Manager or Manager’s affiliates, agents, or employees; 
 (f) Costs for
meals, travel expenses, and hotel accommodations for Manager’s off site office personnel who travel to and from the Property, except as provided above in Section 8(i); 

(g) Cost of purchase or rental of computers, copiers, fax machines, telephones, office furnishings and other office
equipment used at any office at the Property or any other office of Manager, unless approved by Owner under the current approved Operating Budget; and 
 (h) All other costs other than those which are expressly reimbursable pursuant hereto. 
  

	10.	DISBURSEMENTS TO OWNER; SEPARATE ACCOUNTING 

 Manager shall cause to be disbursed to Owner, within five (5) days of receipt by Manager, any income received or collected by Manager with respect to the Property. 

  
 -19-

	11.	SALE OF PROPERTY/COOPERATION WITH BROKER 

 If a listing agreement is entered into with a broker other than Manager for the sale of the Property, Manager shall cooperate with such broker and Manager shall permit the broker to exhibit the Property
during reasonable business hours provided the broker has notified Manager in advance. 
  

	12.	COOPERATION 

 Should any
claims, demands, suits or other legal proceedings be made or instituted by any person against Owner or the title holder of the Property which arise out of any of the matters relating to this Agreement or the Property, Manager shall give Owner all
pertinent information and reasonable assistance in the defense or other disposition thereof. This Section 12 shall survive any termination of this Agreement. 
  

	13.	MANAGEMENT FEE 

 As
compensation for its services pursuant to this Agreement, Owner shall pay to Manager a management fee as set forth on Exhibit B, which fee shall be paid as provided in Exhibit B. Except for the fee(s) set forth on
Exhibit B and the payments which Manager may make from the Operating Account pursuant to Section 8, Manager is not entitled to any other compensation or reimbursement for any other costs and expenses. 

 

	14.	DEFAULT, TERMINATION AND REMEDIES 

  

	14.1	Termination Without Cause Upon Sale of Property. 

 Notwithstanding anything to the contrary in this Agreement, this Agreement shall terminate automatically and immediately upon the sale of the Property by Owner to any Person that is not an Affiliate of
Owner. 
  

	14.2	Default. 

 Manager shall
be in default of its duties and obligations under this Agreement upon the occurrence of any of the following events (an “event of default”): (a) the fraud, misrepresentation, or breach of trust by Manager;
(b) Manager assigns its rights or delegates any of its obligations under this Agreement without the assignment or delegation being first approved by Owner; (c) Manager makes expenditures or incurs obligations not set forth in an annual
approved Operating Budget or otherwise approved or permitted under this Agreement that are not reimbursed or otherwise cured by Manager within ten (10) days after receipt of written notice from Owner; or (d) Manager fails to keep, observe
or perform any other agreement, term or provision hereof required to be kept, observed or performed by Manager or any decisions, directives or instructions of Owner, and such failure is not cured to the reasonable satisfaction of Owner within ten
(10) days after the delivery of written notice thereof by Owner to Manager for monetary occurrences or within thirty (30) days after delivery of written notice thereof by Owner to Manager for
non-monetary occurrences; provided, however, if the occurrence is non-monetary and is of a nature that cannot be cured within such thirty (30) day period, Manager may have such additional time as may be
reasonably required to cure the occurrence if Manager promptly commences and thereafter diligently prosecutes such cure until completion; provided, further, in no event shall the foregoing cure period be greater than sixty (60) days.

  
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	14.3	Remedies. 

 Upon the
occurrence of an event of default by Manager, Owner shall have the right to (i) terminate this Agreement in its entirety immediately upon the expiration of the cure period with respect to such event of default, and (ii) pursue any other
remedies available to Owner at law or in equity. In the event Owner exercises its right to terminate this Agreement pursuant to clause (i) in the immediately preceding sentence, such termination shall be effective upon not less than ten
(10) days’ prior written notice to Manager; provided, however, Owner may immediately terminate this Agreement upon the occurrence of an event of default described in clauses (a) and (b) of Section 14.2 by delivering
written notice thereof to Manager. 
  

	14.4	Other Events of Termination. 

 This Agreement also may be terminated, at Owner’s election (but with respect to clause (B) as follows, upon thirty (30) days’ advance written notice), in the event of: (A) a
“Bankruptcy” (as hereinafter defined) of Manager or (B) an event of default by Manager or an Affiliate of Manager shall occur under any Related Property Management Agreement which continues beyond any applicable notice and cure period
specified therein. “Bankruptcy,” for the purposes of this Agreement, shall occur if Manager shall: (i) admit in writing its inability to pay its debts generally or its willingness to be adjudged a bankrupt; or
(ii) file a petition in bankruptcy or a petition to take advantage of any insolvency act, file an answer admitting to, consenting to, or acquiescing in the relief sought by any such petition, or file an answer which fails to deny the material
allegations of any such petition; or (iii) make an assignment for the benefit of creditors; or (iv) consent to or acquiesce in the appointment of a receiver or trustee of itself or of the whole or any substantial part of its property; or
(v) be adjudicated a bankrupt or insolvent; or (vi) file a petition for reorganization or for the adoption of an arrangement under the Federal Bankruptcy Code, as amended, or any analogous statute of any foreign country, or an answer or
admission seeking, consenting to, or acquiescing in the relief provided under the foregoing or admitting or failing to deny the material allegations of any such petition; or (vii) permit or acquiesce to the entry of an order appointing a
receiver or trustee of Manager, or approving a petition filed against Manager for or affecting a reorganization or arrangement under the Federal Bankruptcy Code or any other applicable law or statute of the United States of America or any state or
foreign country which order shall not be vacated or set aside or stayed within sixty (60) days from the date of its entry; or (viii) permit or acquiesce to the entry of an order for any other judicial modification or alteration of the
rights of creditors or mortgagees, which order shall not be vacated or set aside or stayed within sixty (60) days from the date of its entry. Further, either party may terminate this Agreement for no cause upon sixty (60) days’
advance written notice to the other. 

  
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	14.5	Effect of Termination. 

Upon the effective date of any termination of this Agreement: 

(a) Manager shall promptly surrender and deliver up to Owner any and all income relating to the Property and monies of
Owner on hand or in any bank account, including all security deposits of tenants, if not previously delivered to Owner; 
 (b) Manager shall promptly deliver to Owner as received any monies received with respect to the Property after the effective date of termination; 

(c) Manager shall promptly deliver to Owner all records, contracts, leases, receipts for deposits, unpaid bills,
materials, supplies, keys, contracts, documents, plans, specifications, promotional materials, and all other accountings, papers, documents and records pertaining to this Agreement or the Property; 

(d) Manager shall promptly assign to Owner all executed contracts relating to the operation and maintenance of the
Property and Owner shall assume and provide Manager a release from any obligations relating to same to the extent the same arise from and after such assignment; 
 (e) Manager shall promptly deliver to Owner a final accounting, reflecting the balance of income and expenses on the Property as of the date of termination which shall be delivered within 30 days after
such termination; 
 (f) Manager shall immediately cease the performance of all services required to be performed
by Manager under this Agreement with respect to the Property vacate the Property; 
 (g) Manager shall use its
best efforts to cooperate with Owner to accomplish an orderly transfer of the operation and management of the Property to the party designated by Owner; 
 (h) Manager agrees that the termination of this Agreement in accordance with the terms of this Agreement by Owner shall not create or give rise to any liability of or against Owner, except for post-termination obligations of Owner expressly set forth herein. Manager further waives all rights to institute any proceeding whatsoever against Owner based in any way on Owner’s termination of this Agreement
in accordance with applicable terms of this Section 14. The prior two sentences shall not limit Manager’s right to collect monies to which it had become entitled prior to termination, less any sums owed by Manager to Owner as a result of
any default or breach by Manager; 
 (i) No termination of this Agreement (either in whole or in part) by Owner
in accordance with the terms of this Section 14 shall prejudice in any way Owner’s rights and remedies under this Agreement or applicable law or any of its rights to seek and recover damages and other relief on account of the default of
Manager or relieve Manager of any of its obligations and liabilities that arose or accrued prior to the full or partial termination of this Agreement. 
 (j) No termination of this Agreement (either in whole or in part) by Manager in accordance with the terms of this Section 14 shall prejudice in any way Manager’s rights and remedies under this
Agreement or applicable law or any of its rights to seek 

  
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and recover damages and other relief on account of the default of Owner or relieve Owner of any of its obligations and liabilities that arose or accrued prior to the full or partial termination
of this Agreement. 
 (k) The terms and provisions of this Section 14.5 shall survive the termination
of this Agreement. 
  

	14.6	Force Majeure. 

 Any
delays in the performance of any obligation of Manager or Owner under this Agreement (except the payment or satisfaction of any monetary obligation) shall be excused to the extent that such delays are caused by wars, national emergencies, natural
disasters, strikes, labor disputes, utility failures, governmental regulations, riots, adverse weather, and other similar causes not within the control of Manager or Owner, as the case may be, and any time periods required for performance shall be
extended accordingly. 
  

	15.	SUBSIDIARIES AND AFFILIATES 

 Manager agrees not to enter into any contract or lease of any kind whatsoever between Manager and any of Manager’s subsidiary corporations or other Affiliates without providing prior written notice
to Owner disclosing fully the nature of the relationship between Manager and such Affiliates, and any such contract or lease shall be subject to the prior written approval of Owner which may be withheld in its sole discretion. 

 

	16.	AUTHORIZED REPRESENTATIVE 

Manager shall designate a representative authorized to act on its behalf with respect to the matters described in this Agreement. The
authorized representative shall examine documents submitted by Owner and shall promptly render decisions pertaining thereto to avoid unreasonable delay in the performance of Manager’s obligations hereunder. Owner will communicate with Manager
through its authorized representative. Manager’s authorized representative initially shall be Kelly Manion or, in his/her absence, Jackie Green. Manager’s authorized representative may be changed from time to time upon prior written notice
to Owner. 
  

	16.1	Quarterly Meetings. 

Authorized representatives of Owner and Manager shall meet as requested by Owner, but at least once each calendar quarter to review
matters relating to the Property and this Agreement, including, without limitation, budget variances, unanticipated increases in costs and expenses, performance standards, cost savings measures and performance. 

  
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	17.	NOTICES 

 All notices,
demands, consents, directives, instructions and reports provided for in this Agreement shall be in writing and shall be either (a) delivered in person, (b) sent by certified or registered mail, (c) delivered by a recognized delivery
service, or (d) sent by facsimile transmission and addressed as follows: 
 Owner: 

CHP Lincoln Plaza AZ MOB Owner, LLC 
 450 South Orange Avenue, Suite 1200 
 Orlando, Florida 32801 

Attention: Tracey Bracco, Esquire 
 Attention: Kevin Maddron 
 Telephone No.: (407) 540-7595 

Facsimile No.: (407) 540-2544 

Manager: 
 John Phair, CEO

 Holladay Property Services 
 227 S. Main Street, Suite 300 
 South Bend, Indiana 46601 

Telephone No.: (574) 217-4510 
 Facsimile No.: (574) 284-3799 
 and: 

Kelly Manion, Senior Vice President Operations 
 Holladay Property Services 
 1508 Elm Hill Pike, Suite 100 

Nashville, Tennessee, 37210 
 Telephone No.: (615) 324-6935 
 Facsimile No.: (615) 324-6914 

Either party may change its address for receiving notices by giving the other party notice of such change in accordance with the provisions of this
Section. Such a notice of change may include a request that copies of future notices be sent to counsel for that party. A notice, request or other communication shall be deemed to be duly received if delivered in person or by a recognized delivery
service, when left at the address of the recipient and if sent by facsimile, upon receipt by the sender of an acknowledgment or transmission report generated by the machine from which the facsimile was sent indicating that the facsimile was sent in
its entirety to the recipient’s facsimile number; provided that if a notice, request or other communication is served by hand or is received by facsimile on a day which is not a business day, or after 5:00 p.m. on any business day at the
addressee’s location, such notice or communication shall be deemed to be duly received by the recipient at 9 a.m. on the first business day thereafter. A notice, request or other communication shall be deemed to be duly received if sent by
certified or registered mail on the date such notice, request or communication is received by the recipient as confirmed by the return receipt. 
  

	18.	ASSIGNMENT 

 Manager shall
not assign this Agreement without the prior written consent of Owner, which Owner may withhold in its sole discretion. If any such consent is given, it must be in writing signed by Owner. 

  
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	19.	INDEMNIFICATION 

  

	19.1	Indemnification of Owner. 

Manager shall indemnify, defend (through counsel reasonably acceptable to Owner) and hold Owner, its Parents, subsidiaries and Affiliates,
and its and their present and future directors, officers, agents, servants, and employees (collectively, the “Owner Indemnified Parties”) harmless for, from and against all claims, demands, causes of action, losses, damages,
fines, penalties, liabilities, costs and expenses, including reasonable attorney’s fees and court costs sustained or incurred by or asserted against an Owner Indemnified Party by reason of or arising out of (i) the gross negligence of
Manager, its agents or employees, (ii) dishonest acts and/or the willful misconduct of Manager’s employees or agents, and (iii) any claims brought against an Owner Indemnified Party by Manager’s employees or agents. Manager shall
solely be liable for actual damages and shall not be liable to Owner for consequential or punitive damages. 
  

	19.2	Indemnification of Manager. 

 Owner shall indemnify, defend (through counsel reasonably acceptable to Manager) and hold Manager, its Parents, subsidiaries and Affiliates, and its and their present and future directors, officers,
agents, servants and employees (collectively, the “Manager Indemnified Parties”) harmless for, from and against all claims, demands, causes of action, losses, damages, fines, penalties, liabilities, costs and expenses,
including reasonable attorney’s fees and court costs, sustained or incurred by or asserted against Manager by reason of or arising out of (i) any claim brought against a Manager Indemnified Party arising out of or relating to its
performance of any and all services required herein, except as provided below; and (ii) the existence of any Hazardous Materials on, in, under or adjacent to the Property unless such Hazardous Materials were brought onto or introduced to or
knowingly permitted to remain on the Property directly by Manager or its employees, agents or representatives. Notwithstanding the foregoing, Owner shall have no obligation to indemnify, defend or hold Manager harmless to the extent such claim,
demand, cause of action, loss, damage, fine, penalty, liability, cost or expense is sustained or incurred by or asserted against Manager by reason of or arising out of (1) action or omission for which Manager is required to indemnify Owner
pursuant to Section 19.1, or (2) acts by Manager that exceed the scope of Manager’s authority under this Agreement. 
  

	19.3	Survival of Obligations. 

The obligations of Owner and Manager under this Section 19 shall survive the termination of this Agreement with respect to claims
based on occurrences that actually or allegedly took place during the term of this Agreement. 
  

	20.	ATTORNEY’S FEES 

 If
there is any legal or arbitration action or proceeding between the parties to enforce any provision of this Agreement or to protect or establish any right or remedy of any of the parties, the unsuccessful party to such action or proceeding shall pay
to the prevailing party all costs and expenses, including reasonable attorney’s fees incurred by such prevailing party in such action or proceeding and in any appearance in connection therewith, and if such prevailing party recovers a judgment
in any such action, proceeding or appeal, such costs, expenses and attorney’s fees shall be determined by the court or arbitration panel handling the proceeding and shall be included in and as a part of such judgment. 

  
 -25-

	21.	MISCELLANEOUS 

  

	21.1	Time. 

 Time is of the
essence of this Agreement. 
  

	21.2	Invalidity. 

 The
invalidity of any provision of this Agreement as determined by a court of competent jurisdiction, shall not affect the validity of any other provision hereof. 
  

	21.3	Waiver and Approvals. 

 No
failure of either party to enforce any term hereof shall be deemed to be a waiver, and all waivers, approvals, consents, authorizations and instructions of Owner to become effective must be given in writing. 

 

	21.4	Agreement Binding/Choice of Law. 

 This Agreement shall bind the parties, their personal representatives, heirs, executors, administrators, successors and assigns. This Agreement shall be governed by the laws of the State in which the
Property is located without regard to its choice of law provisions. 
  

	21.5	Authorization. 

 By
executing this Agreement, both parties represent that they are authorized and have the power to enter into this Agreement. 
  

	21.6	Construction. 

 This
Agreement shall be construed to effectuate the normal and reasonable expectations of a sophisticated owner and a sophisticated property manager and shall not be construed either for or against either party. Neither party shall take any action which
would frustrate the other’s reasonable expectations concerning the benefits to be enjoyed hereunder. 
  

	21.7	Representations. 

 Manager
represents and warrants that it is fully qualified and licensed, to the extent required by law, to manage real estate and perform all obligations assumed by Manager hereunder. Manager agrees to comply with all such laws now or hereafter in effect.

  

	21.8	Complete Agreement/Amendment. 

 This Agreement and Exhibits A, B, C, D, and E, which are attached hereto and hereby made a part hereof of this Agreement, contain all agreements of the parties with respect to any matter
mentioned herein. No prior agreement or understanding pertaining to any such matter shall be effective. This Agreement may be modified in writing only, signed by the parties in interest at the time of modification. 

  
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	21.9	No License to Use Trademarks/Advertising. 

 (a) Manager acknowledges that it has no right to display or otherwise use the name or trademarks and service marks of Owner in Manager’s own promotions, advertising, press releases, or otherwise
without first obtaining the prior written consent of Owner which Owner may withhold in its sole and absolute discretion. Manager and Owner agree that neither will acquire any right, title, or interest in or to the other party’s service marks
and trademarks by virtue of this Agreement. To the extent that Owner agrees to permit Manager to use or display Owner’s service marks and trademarks, Manager shall discontinue all such use or display upon termination of this Agreement or
withdrawal of Owner’s permission. 
 (b) Manager further agrees that any press releases, publicity statements or
promotional materials regarding this Agreement, the Property or the appointment of Manager or which, in any way, mentions or refers to Owner, may not be issued by Manager without the prior written consent of Owner which Owner shall not unreasonably
withhold. 
  

	21.10	Limitation on Pledging Owner’s Credit. 

 Manager shall not borrow any money or execute any promissory note, bill of exchange or other obligation, mortgage or Encumbrance (as hereinafter defined) in the name and on behalf of Owner to pledge the
credit of Owner or any of its Affiliates, respectively, without the prior written consent of Owner except for purchases made in the ordinary course of business in the management of the Property within the scope of this Agreement. For purpose of this
Section 21.10, approval of an Operating Budget shall not constitute consent. 
  

	21.11	Counterparts. 

 This
Agreement may be executed in several counterparts, each of which shall be original, but all of which shall constitute but one and the same instrument. 
  

	22.	CONFIDENTIALITY 

 All
information obtained or developed by Manager pursuant to this Agreement which is not otherwise publicly available is confidential and shall be maintained in strictest confidence and shall not be disclosed to any person or entity other than
Manager’s employees, attorneys and accountants (who shall in all cases be subject to and comply with the foregoing confidentiality agreement) without the prior written consent of Owner; provided, however, Manager may disclose confidential
information if required by subpoena, court order or applicable law but only after giving Owner prior written notice of the intended disclosure and giving Owner a period of ten (10) days to determine whether such disclosure by Manager should be
contested at Owner’s sole cost. Manager shall provide access to confidential information only on a “need-to-know” basis. Manager covenants and agrees to
take all reasonable steps to ensure that Manager’s employees do not use any confidential information for personal gain. 

  
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	23.	SUBORDINATION 

 Without
the consent of Manager, Owner may, from time to time, directly or indirectly, create or otherwise cause to exist any ground lease, mortgage, trust deed, lien, encumbrance or title retention agreement (collectively, an “Encumbrance”)
upon the Property or any part(s) or portion(s) thereof or interests therein. This Agreement and the rights of Manager hereunder are and at all times shall be subject and subordinate to any such Encumbrance which may now or hereafter affect the
Property or any of them and to all renewals, modifications, consolidations, replacements and extensions thereof. This Section 23 shall be self-operative and no further instrument of subordination shall be required; provided, however, that in
confirmation of such subordination, Manager shall execute promptly any certificate or document that Owner or any ground or underlying lessor, mortgagee or beneficiary (each, a “Lienholder”) may request for such purposes. 

 

	24.	CERTAIN DEFINITIONS 

 In
addition to the terms defined elsewhere in this Agreement, the following terms shall have the meanings set forth as follows: 

“Affiliate” when used in relation to a specified Person, shall mean (i) all Parents of such Person,
(ii) any other Person 50% or more of whose outstanding voting shares, partnership interests, membership interests or other equity ownership interests are owned by the specified Person, either directly or indirectly through one or more
intermediaries, and (iii) any other Person, 50% or more of whose outstanding voting shares, partnership interests, membership interests or other equity ownership interests, are owned by a Parent of the specified Person, either directly or
indirectly through one or more intermediaries. 
 “Environmental Liabilities” shall mean any liability,
penalties, fines, forfeitures, demands, damages, losses, claims, causes of action, suits, judgments, and costs and expenses incidental thereto (including cost of defense, settlement, reasonable attorneys’ fees, reasonable consultant fees and
reasonable expert fees), arising from or based on (i) environmental contamination or the threat of environmental contamination or (ii) noncompliance or violation of any federal, state or local law, regulation, rule or ordinance pertaining
to Hazardous Materials, and shall include, but not be limited to, liability arising from: 
  

	 	(1)	any governmental action, order, directive, administrative proceeding, or ruling; 

 

	 	(2)	personal or bodily injuries (including death) or damages to any property (including loss of use) or natural resources; or 

 

	 	(3)	cleanup, remediation, investigation, monitoring or other response action. 

 “Hazardous Material” shall mean (a) any hazardous waste, any extremely hazardous waste, or any restricted hazardous waste, or words of similar import, as defined in the
Resource Conservation and Recovery Act (42 U.S.C. § 6901 et seq.); (b) any hazardous substances as defined in the Comprehensive Environmental Response, Compensation and Liability Act (42 U.S.C. § 9601 et seq.); (c) any toxic
substances as defined in the Toxic Substances Control Act (15 U.S.C. § 2601 et seq.); (d) any pollutant as defined in the Clean Water Act (33 U.S.C. § 1251 et seq.); (e) gasoline, petroleum or other hydrocarbon products or
by-products; (f) asbestos; (g) any material, substance or waste subject to regulation pursuant to any regulations implementing 

  
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the National Environmental Policy Act, including, but not limited to, those regulations set forth in 47 C.F.R. § 1.1301-1.1319 (1986), as amended and
supplemented from time to time and any similar replacement regulations; or (h) any other materials, substances, or wastes subject to environmental regulation under any applicable federal, state or local law, regulation, or ordinance now or
hereafter in effect. 
 “MOB Policies” shall mean the Medical Office Building Policies and Procedures
for Accounting, Capital Asset Management, and Operations adopted by Owner for the purpose of setting forth policies and procedures for the implementation and performance of Manager’s duties and obligations under this Agreement, as such policies
and procedures may be modified, amended and supplemented by Owner from time to time by written notice thereof delivered to Manager via electronic mail or otherwise (and Manager will comply with such modifications, amendments and supplements a
reasonable time after receipt of notice thereof). Manager acknowledges that it has received a current copy of the MOB Policies prior to the Commencement Date. 
 “Operating Account” shall mean a separate, segregated bank account established in Owner’s name at or at any one or more other banks approved by Owner and Manager. Owner and
Manager shall specify the signatory or signatories of Manager required on all checks or other documents of withdrawal submitted by Manager on the Operating Account. Funds in the Operating Accounts shall not be commingled with any other funds
controlled by Manager, unless approved by Owner and will be disbursed only in accordance with this Agreement and, from time to time, upon the specific instructions of Owner. Manager shall not withdraw any monies from the Operating Account to pay any
item other than as set forth herein. 
 “Parent” when used in relation to a specified Person shall mean
a Person who owns 50% or more of the outstanding voting shares, partnership interests, membership interests or other equity ownership interests of the specified Person, either directly or indirectly through one or more intermediaries. 

“Person” shall mean any individual, corporation, partnership, joint venture, association, joint stock company,
limited liability company, limited liability partnership, trust, unincorporated organization, government or any agency or political subdivision thereof, or any other form of entity. 

“Property Expenses” shall mean all Valid Property Expenses and all other expenses which Manager may pay from the
Operating Account in accordance with Section 8. 
 “Property Income” shall mean all income and
other amounts and sums derived from or payable with respect to the Property or the use, operation or occupancy thereof, including, by way of example, but not necessarily limited to: all rents or other charges for use and occupancy of space in the
Property or for any services, equipment or furnishings provided in connection with such use or occupancy; real estate taxes, insurance and operating expense reimbursements; rental increases due to cost-of-living provisions; sums payable in consideration of the cancellation, surrender, or modification of any Space Lease; damages by reason of any default (including, without limitation, applications of
security deposits upon such default); all other sums payable by occupants; the proceeds of rental interruption insurance; income derived from interest 

  
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on bank accounts or otherwise; hazard or liability insurance or eminent domain proceeds; tax refunds; tax abatement awards; discounts and dividends on insurance policies; tenant improvement,
remodeling and other like costs charged to tenants and income from vending machines and other coin operated devices located on the Property, but excluding income from radio frequency antenna devices located on the Property if managed under an
agreement between Owner and any third party. 
 “Related Property Management Agreement” shall mean all
other property management agreements by and between Owner or any Affiliate thereof and Manager or any Affiliate thereof. 

“Valid Property Expenses” shall mean all expenses for the month in question incurred by or on behalf of Owner for
all of the following, except to extent not reimbursable to Manager and the sole responsibility of Manager pursuant to Section 9: (i) costs incurred in the construction of tenant improvements (to the extent the obligation of Owner under the
applicable Space Lease); (ii) promotional expenses (including brochures and advertising); (iii) operation, cleaning and maintenance of the Property for the month in question, determined on an accrual basis, including, but not limited to,
the cost of all utilities supplied to the Property (to the extent the same are not separately charged or metered to tenants of the Property); (iv) repair of the Property; (v) insurance in such amounts and providing such coverage which
shall include only commercial general liability insurance and workers’ compensation insurance; (vi) the cost of complying with rules, regulations, and orders of governmental authorities; (vii) all real and personal property taxes; and
(viii) general or special assessments or improvement district assessments levied or assessed on the Property, whether by a school, hospital, municipality, or other governmental entity. All prepaid expenditures shall be prorated on a monthly
basis. 
 [REMAINDER OF PAGE INTENTIONALLY BLANK – SIGNATURES ON FOLLOWING PAGE] 

  
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 IN WITNESS WHEREOF the parties hereto have executed this Agreement the date and year first
above written. 
  

									
	OWNER:	 		 	MANAGER:
			
	 CHP LINCOLN PLAZA AZ MOB
 OWNER, LLC, a Delaware limited liability company
	 		 	 HOLLADAY PROPERTY SERVICES
 MIDWEST, INC., and Indiana corporation

					
	By:	 	 /s/ Tracey B. Bracco
	 		 	By:	 	 /s/ Kelly J. Manion

	Name:	 	Tracey B. Bracco	 		 	Name:	 	 Kelly J. Manion

	Title:	 	Vice President	 		 	Title:	 	 Senior Vice President

					
	Date:	 	 8/15/13
	 		 	Date:	 	 8/9/13

  
 -31-

 EXHIBIT A 
 DESCRIPTION OF PROPERTY 
 [Intentionally Omitted] 

 EXHIBIT B 
 MANAGER’S FEES 
 Three Percent (3.0%) of all receipts and
disbursements or other expenses related to the Property 
 Five Percent (5%) of the amount of any construction contracts up
to a total value of $250,000 or less for which Manager provides construction management services, and three percent (3%) of any construction contract amounts exceeding $250,000. 

Three Percent (3%) leasing commission on all new leases, two percent (2%) leasing commission on all renewals of existing
leases. Any co-brokerage shall be considered by Owner on a case-by-case basis. 
 [all of the foregoing shall be billed to
Tenant as an Operating Expense of the Property] 

 EXHIBIT C 
 TENANT BUILDOUT SERVICES 
 [Intentionally Omitted] 

EXHIBIT D 

PROPERTY INFORMATION PACKAGE 
 [Intentionally Omitted] 
 EXHIBIT E 

EMPLOYEES 
 [Intentionally Omitted] 
 EXHIBIT F 

TRANSITION SERVICES 
 [Intentionally Omitted] 
 EXHIBIT G 

OFFICE PROPERTY SERVICES QUESTIONNAIRE 
 [Intentionally Omitted] 
 EXHIBIT H 

REQUIRED INSURANCE COVERAGE 
 [Intentionally Omitted]Supplemental Guaranty (Doctors Specialty Hospital)

 Exhibit 10.17 
 SUPPLEMENTAL GUARANTY 
 (Doctors Specialty Hospital) 

FOR VALUE RECEIVED, the sufficiency of which is hereby acknowledged, the undersigned, CHP LEAWOOD KS MOB OWNER, LLC, a Delaware
limited liability company (“Guarantor”), absolutely guarantees and agrees to pay to THE PRUDENTIAL INSURANCE COMPANY OF AMERICA (hereinafter called “Lender”) at the address designated in the Instrument (as
hereinafter defined) for payment thereof or as such address may be changed as provided in the Instrument, all Pool Obligations (as defined in the Loan Agreement [as defined below], but excluding therefrom Guarantor’s obligations under its
Individual Loan Documents) of the Related Borrowers (as defined below), together with all interest, attorneys’ fees and collection costs provided for in the Note (as defined in the Instrument) and the Loan Agreement (all such indebtedness is
hereinafter called the “Indebtedness”). 
 RECITALS: 

A. Guarantor and certain affiliates of Guarantor (individually, a “Related Borrower”, and collectively, the “Related
Borrowers”) have entered into that certain Loan Agreement with Lender dated of even date herewith (as the same may be amended, restated, replaced, supplemented or otherwise modified from time to time, the “Loan Agreement”).
Capitalized terms used herein without definitions shall have the meaning ascribed to such term in the Loan Agreement or in the Instrument. 
 B.
Lender has made certain loans to Guarantor and each of the Related Borrowers in the aggregate principal sum of Thirty-Five Million Seven Hundred Ten Thousand and No/100 Dollars ($35,710,000.00) (collectively, the “Loans”), evidenced
by the Notes (as defined in the Loan Agreement) including without limitation, that certain loan to Guarantor (the “Leawood Loan”) in the original principal amount of Four Million Five Hundred Ten Thousand and No/100 Dollars
($4,510,000.00) evidenced by the Leawood Note (as defined in the Loan Agreement). The Leawood Note is secured, in part, by that certain Mortgage and Security Agreement (Doctors Specialty Hospital – First), dated as of the date hereof and made
by Guarantor to Lender (the “First Priority Instrument”). 
 C. This Supplemental Guaranty shall be secured by, inter
alia, (i) that certain Mortgage and Security Agreement (Doctors Specialty Hospital – Second) executed and delivered by Guarantor to Lender (together with all amendments and modifications thereto, hereinafter called the
“Instrument”) with respect to the real property and improvements situated thereon located at 4901 College Boulevard, Leawood, Kansas, and (ii) that certain Assignment of Leases and Rents (Doctors Specialty Hospital –
Second) executed and delivered by Guarantor in favor of Lender (together with all amendments and modifications thereto, hereinafter called the “Assignment”). 
 D. Lender was willing to make the Loans to Guarantor and each of the Related Borrowers only if Guarantor delivered this Supplemental Guaranty. 

In consideration of the Recitals, the principal sum of the Leawood Note, and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, Guarantor hereby agrees as follows: 
 1. Except as otherwise specifically
provided or limited herein, in the event one or more of the Related Borrowers fails to pay any of the Indebtedness, Guarantor shall immediately upon written demand of Lender promptly and with due diligence pay for the benefit of Lender all such
Indebtedness. 
 2. Guarantor expressly waives presentment for payment, demand, notice of demand and of dishonor and non-payment
of the Indebtedness, notice of intention to accelerate the maturity of the 

 
Indebtedness or any part thereof, notice of disposition of collateral, notice of acceleration of the maturity of the Indebtedness or any part thereof, protest and notice of protest, diligence in
collecting, and the bringing of suit against any other party. Lender shall be under no obligation to notify Guarantor of its acceptance hereof or of any advances made or credit extended on the faith hereof or the failure of one or more of the
Related Borrowers to pay any of the Indebtedness as and when due or any default in the performance of any of the Pool Obligations, or to use diligence in preserving the liability of any person on the Indebtedness or any of the Pool Obligations or in
bringing suit to enforce collection of the Indebtedness or performance of any of the Pool Obligations. Guarantor waives all defenses given to sureties or guarantors at law or in equity other than the actual payment of the Indebtedness and all
defenses based upon questions as to the validity, legality or enforceability of the Indebtedness and/or any of the Pool Obligations and agrees that Guarantor shall be primarily liable hereunder. 

3. Lender, without authorization from or notice to Guarantor and without impairing, modifying, changing, releasing, limiting or affecting
the liability of Guarantor hereunder, may from time to time at its discretion and with or without valuable consideration, alter, compromise, accelerate, renew, extend or change the time or manner for the payment of any or all of the Indebtedness,
increase or reduce the rate of interest thereon, take and surrender security, exchange security by way of substitution, or in any way it deems necessary take, accept, withdraw, subordinate, alter, amend, modify or eliminate security, add or release
or discharge endorsers, guarantors or other obligors, make changes of any sort whatever in the terms of payment of the Indebtedness, in any of the Pool Obligations or in the manner of doing business with the Related Borrowers, or settle or
compromise with the Related Borrowers or any other person or persons liable on the Indebtedness or any of the Pool Obligations on such terms as it may see fit, and may apply all monies received from the Related Borrowers or others, or from any
security held (whether held under a security instrument or not), in such manner upon the Indebtedness (whether then due or not) as it may determine to be in its best interest, without in any way being required to marshal securities or assets or to
apply all or any part of such monies upon any particular part of the Indebtedness. It is specifically agreed that Lender is not required to retain, hold, protect, exercise due care with respect thereto, perfect security interests in or otherwise
assure or safeguard any security for the Indebtedness or any of the Pool Obligations; no failure by Lender to do any of the foregoing and no exercise or non-exercise by Lender of any other right or remedy of Lender shall in any way affect any of
Guarantor’s obligations hereunder or any security furnished by Guarantor or give Guarantor any recourse against Lender. 

4. The liability of Guarantor hereunder shall not be modified, changed, released, limited or impaired in any manner whatsoever on account
of any or all of the following: (a) the incapacity, death, disability, dissolution or termination of Guarantor, a Related Borrower, Lender or any other person or entity; (b) the failure by Lender to file or enforce a claim against the
estate (either in administration, bankruptcy or other proceeding) of a Related Borrower or any other person or entity; (c) any transfer or transfers of any of the property covered by the Instrument, the Assignment, the First Priority
Instrument, or any other instrument securing the payment of any of the Notes; (d) any modifications, extensions, amendments, consents, releases or waivers with respect to any of the Notes, the Instrument, the Assignment, the First Priority
Instrument, and any other instrument now or hereafter securing the payment of any of the Notes or this Supplemental Guaranty; (e) any failure of Lender to give any notice to Guarantor of any default under any of the Notes, the Instrument, any
other instrument securing the payment of any of the Notes, or this Supplemental Guaranty; (f) Guarantor is or becomes liable for any Indebtedness owing by any Related Borrower to Lender other than under this Supplemental Guaranty; or
(g) any impairment, modification, change, release or limitation of the liability of, or stay of actions or lien enforcement proceedings against, any Related Borrower, its property, or its estate in bankruptcy resulting from the operation of any
present or future provision of the Federal Bankruptcy Code or any other present or future federal or state insolvency, bankruptcy or similar law (all of the foregoing hereinafter collectively called “applicable Bankruptcy Law”) or
from the decision of any court. 

  
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Prudential Loan No. 706109202 
 CNL MOB
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 Supplemental Guaranty (Doctors Specialty Hospital) 

 5. Lender shall not be required to pursue any other remedies before invoking the benefits of
the guaranties contained herein, and specifically it shall not be required to make demand upon or institute suit or otherwise pursue or exhaust its remedies against any Related Borrower or any surety other than Guarantor or to proceed against any
security now or hereafter existing for the payment of any of the Indebtedness. Lender may maintain an action on this Supplemental Guaranty without joining any Related Borrower therein and without bringing a separate action against Related Borrower.

 6. Guarantor absolutely and unconditionally covenants and agrees that in the event that one or more of the Related Borrowers
does not or is unable to either pay the Indebtedness or perform any of the Pool Obligations (or cause any of the Pool Obligations to be performed) for any reason, including, without limitation, liquidation, dissolution, receivership,
conservatorship, insolvency, bankruptcy, assignment for the benefit of creditors, sale of all or substantially all assets, reorganization, arrangement, composition, or readjustment of, or other similar proceedings affecting the status, composition,
identity, existence, assets or obligations of such Related Borrower(s), or the disaffirmance or termination of any of the Indebtedness or Pool Obligations in or as a result of any such proceeding, Guarantor shall pay the Indebtedness and perform any
of the Pool Obligations (or cause any of the Pool Obligations to be performed) and no such occurrence shall in any way affect Guarantor’s obligations hereunder. 
 7. Should the status, structure or composition of any Related Borrower change, this Supplemental Guaranty shall continue and also cover the Indebtedness and Pool Obligations of such Related Borrower under
its new status, structure or composition according to the terms hereof. This Supplemental Guaranty shall remain in full force and effect notwithstanding any transfer of any of the property covered by the Instrument or the First Priority Instrument.

 8. In the event any payment by any Related Borrower to Lender is held to constitute a preference under any applicable
Bankruptcy Law, or if for any other reason Lender is required to refund such payment or pay the amount thereof to any other party, such payment by such Related Borrower to Lender shall not constitute a release of Guarantor from any liability
hereunder, but Guarantor agrees to pay such amount to Lender upon demand and this Supplemental Guaranty shall continue to be effective or shall be reinstated, as the case may be, to the extent of any such payment or payments. 

9. Subject to the provisions of Sections 10 and 11 below, Guarantor agrees that it shall not have (a) the right to the benefit of,
or to direct the application of, any security held by Lender (including any of the property covered by the Instrument, the Assignment, the First Priority Instrument, or any other instrument securing the payment of any of the Notes), any right to
enforce any remedy which Lender now has or hereafter may have against any Related Borrower, or any right to participate in any security now or hereafter held by Lender, or (b) any defense arising out of the absence, impairment or loss of any
right of reimbursement or subrogation or other right or remedy of Guarantor against any Related Borrower or against any security resulting from the exercise or election of any remedies by Lender (including the exercise of any power of sale under the
Instrument or the First Priority Instrument), or any defense arising by reason of any disability or other defense of any Related Borrower or by reason of the cessation, from any cause, of the liability of such Related Borrower. 

10. The payment by Guarantor of any amount pursuant to this Supplemental Guaranty shall not in any way entitle Guarantor to any right,
title or interest (whether by way of subrogation or otherwise) in and to any of the Indebtedness or any proceeds thereof, or any security therefor, unless and until the full amount owing to Lender on the Indebtedness has been fully paid, but when
the same has been fully paid Guarantor shall be subrogated as to any payments made by it to the rights of Lender as against the Related Borrowers and/or any endorsers, sureties or other guarantors. 

  
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Prudential Loan No. 706109202 
 CNL MOB
Portfolio 
 Supplemental Guaranty (Doctors Specialty Hospital) 

 11. Notwithstanding any payments made by or for the account of Guarantor on account of the
Indebtedness, Guarantor shall not be subrogated to any rights of Lender until such time as Lender shall have received payment of the full amount of all Indebtedness. For the purposes of the preceding sentence only, the Indebtedness shall not be
deemed to have been paid in full by foreclosure of the Instrument or by acceptance of a deed in lieu thereof, and Guarantor hereby waives and disclaims any interest which it might have in the property covered by the Instrument or other collateral
security for the Indebtedness and the Pool Obligations, by subrogation or otherwise, following foreclosure of the Instrument or Lender’s acceptance of a deed in lieu thereof. 

12. Guarantor expressly subordinates its rights to payment of any indebtedness owing from any Related Borrower to Guarantor, whether now
existing or arising at any time in the future, to the prior right of Lender to receive or require payment in full of the Indebtedness and until payment in full of the Indebtedness (and including interest accruing on any Note after any petition under
applicable Bankruptcy Law, which post-petition interest Guarantor agrees shall remain a claim that is prior and superior to any claim of Guarantor notwithstanding any contrary practice, custom or ruling in proceedings under such applicable
Bankruptcy Law generally), Guarantor agrees not to accept any payment or satisfaction of any kind of indebtedness of any Related Borrower to Guarantor or any security for such indebtedness; provided, however, that, so long as no Event of Default (as
defined in the Loan Agreement) has occurred under the Documents, the foregoing restriction on payment or satisfaction of indebtedness shall not apply to any distributions or payments of indebtedness made (i) to any Guarantor as the holder of an
equity interest in any Related Borrower or in payment or satisfaction of indebtedness to Guarantor, (ii) in the ordinary course of any Related Borrower’s business, and (iii) more than ninety (90) days prior to an Event of Default
under the Documents. If Guarantor should receive any such payment, satisfaction or security for any indebtedness of any Related Borrower to Guarantor, Guarantor agrees forthwith to deliver the same to Lender in the form received, endorsed or
assigned as may be appropriate for application on account of, or as security for, the Indebtedness and until so delivered, agrees to hold the same in trust for Lender. 
 13. Under no circumstances shall the aggregate amount paid or agreed to be paid hereunder exceed the highest lawful rate permitted under applicable usury law (the “Maximum Rate”) and the
payment obligations of Guarantor hereunder are hereby limited accordingly. If under any circumstances, whether by reason of advancement or acceleration of the unpaid principal balance of any Note or otherwise, the aggregate amounts paid hereunder
shall include amounts which by law are deemed interest and which could exceed the Maximum Rate, Guarantor stipulates that payment and collection of such excess amounts shall have been and will be deemed to have been the result of a mistake on the
part of both Guarantor and Lender, and Lender shall promptly credit such excess (only to the extent such interest payments are in excess of the Maximum Rate) against the unpaid principal balance of any Note, and any portion of such excess payments
not capable of being so credited shall be refunded to Guarantor. The term “applicable law” as used in this paragraph shall mean the laws of the State of Kansas or the laws of the United States, whichever laws allow the greater rate
of interest, as such laws now exist or may be changed or amended or come into effect in the future. 
 14. Guarantor hereby
represents, warrants and covenants to and with Lender as follows: (a) the making of this Supplemental Guaranty by Guarantor is an express condition to Lender’s making the loans to the Related Borrowers evidenced by the Note, and such loans
are and will be of direct interest, benefit and advantage to Guarantor; (b) Guarantor is solvent, is not bankrupt and has no outstanding liens, garnishments, bankruptcies or court actions which could reasonably be expected to render Guarantor

  
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Prudential Loan No. 706109202 
 CNL MOB
Portfolio 
 Supplemental Guaranty (Doctors Specialty Hospital) 

 
insolvent or bankrupt, and there has not been filed by or against Guarantor a petition in bankruptcy or a petition or answer seeking an assignment for the benefit of creditors, the appointment of
a receiver, trustee, custodian or liquidator with respect to Guarantor or any substantial portion of Guarantor’s property, reorganization, arrangement, rearrangement, composition, extension, liquidation or dissolution or similar relief under
applicable Bankruptcy Law; (c) all reports, financial statements and other financial and other data which have been or may hereafter be furnished by Guarantor to Lender in connection with this Supplemental Guaranty are or shall be true and
correct in all material respects and do not and will not omit to state any fact or circumstance necessary to make the statements contained therein not misleading in any material respect and do or shall fairly represent the financial condition of
Guarantor as of the dates and the results of Guarantor’s operations for the periods for which the same are furnished, and no material adverse change has occurred since the dates of such reports, statements and other data in the financial
condition of Guarantor; (d) to the best of Guarantor’s knowledge after due inquiry and investigation, the execution, delivery and performance of this Supplemental Guaranty do not contravene, result in the breach of or constitute a default
under any mortgage, deed of trust, lease, promissory notes, loan agreement or other contract or agreement to which Guarantor is a party or by which Guarantor or any of its properties may be bound or affected and do not violate or contravene any law,
order, decree, rule or regulation to which Guarantor is subject; (e) there are no judicial or administrative actions, suits or proceedings pending or, to the best of Guarantor’s knowledge, threatened against or affecting Guarantor or
involving the validity, enforceability or priority of this Supplemental Guaranty; and (f) this Supplemental Guaranty constitutes the legal, valid and binding obligation of Guarantor enforceable in accordance with its terms. 

15. Where two or more persons or entities have executed this Supplemental Guaranty, unless the context clearly indicates otherwise, all
references herein to “Guarantor” shall mean the guarantors hereunder or either or any of them. All of the obligations and liability of said guarantors hereunder shall be joint and several. Suit may be brought against said
guarantors, jointly and severally, or against any one or more of them or less than all of them, without impairing the rights of Lender against the other or others of said guarantors; and Lender may compound with any one or more of said guarantors
for such sums or sum as it may see fit and/or release a portion of said guarantors from all further liability to Lender for any Indebtedness or Pool Obligations without impairing the right of Lender to demand and collect the balance of such
Indebtedness or Pool Obligations from the other or others of said guarantors not so compounded with or released; but it is agreed among said guarantors themselves, however, that such compounding and release shall in nowise impair the rights of said
guarantors as among themselves. 
 16. Except as otherwise provided herein, the rights of Lender are cumulative and shall not be
exhausted by its exercise of any of its rights hereunder or otherwise against Guarantor or by any number of successive actions until and unless all Indebtedness has been paid and each of the obligations of Guarantor hereunder has been performed.

 17. Any notice or communication required or permitted hereunder shall be given pursuant to the terms of the Loan Agreement.

 18. This Supplemental Guaranty shall be deemed to have been made under and shall be governed by the laws of the State of
Kansas in all respects. 
 19. This Supplemental Guaranty may be executed in any number of counterparts with the same effect as
if all parties hereto had signed the same document. All such counterparts shall be construed together and shall constitute one instrument, but in making proof hereof it shall only be necessary to produce one such counterpart. 

  
 5 

Prudential Loan No. 706109202 
 CNL MOB
Portfolio 
 Supplemental Guaranty (Doctors Specialty Hospital) 

 20. This Supplemental Guaranty may only be modified, waived, altered or amended by a written
instrument or instruments executed by the party against which enforcement of said action is asserted. Any alleged modification, waiver, alteration or amendment which is not so documented shall not be effective as to any party. 

21. The books and records of Lender showing the accounts between Lender and Related Borrowers shall be admissible in any action or
proceeding hereon as prima facie evidence of the items set forth herein, absent manifest error. 
 22. Guarantor waives and
renounces any and all homestead or exemption rights Guarantor may have under the Constitution or the laws of any state as against Guarantor, and does transfer, convey and assign to Lender a sufficient amount of such homestead or exemption as may be
allowed, including such homestead or exemption as may be set apart in bankruptcy, to pay the Indebtedness. Guarantor hereby directs any trustee in bankruptcy having possession of such homestead or exemption to deliver to Lender a sufficient amount
of property or money set apart as exempt to pay the Indebtedness. 
 23. The terms, provisions, covenants and conditions hereof
shall be binding upon Guarantor and the heirs, devisees, representatives, successors and assigns of Guarantor and shall inure to the benefit of Lender and all transferees, credit participants, successors, assignees and/or endorsees of Lender. Within
this Supplemental Guaranty, words of any gender shall be held and construed to include any other gender and words in the singular number shall be held and construed to include the plural and words in the plural number shall be held and construed to
include the singular, unless the context otherwise requires. A determination that any provision of this Supplemental Guaranty is unenforceable or invalid shall not affect the enforceability or validity of any other provision and any determination
that the application of any provision of this Supplemental Guaranty to any person or circumstance is illegal or unenforceable shall not affect the enforceability or validity of such provision as it may apply to any other persons or circumstances.

 24. Notwithstanding anything to the contrary contained herein, Guarantor shall not have any personal liability hereunder for
the Indebtedness guaranteed hereby; instead, except as otherwise provided in the Instrument, the Assignment and the Loan Agreement, Lender shall look only and solely to Guarantor’s interest in the collateral granted to Lender by the Instrument
and the Assignment to satisfy the Indebtedness. Notwithstanding the preceding sentence, Lender may bring a foreclosure action or other appropriate action to enforce the Instrument and the Assignment or realize upon and protect any or all of the
collateral described therein (including, without limitation, naming the Guarantor in such actions). 
 25. None of
Guarantor’s respective members, officers, directors, shareholders, employees, agents, parents or principals (each a “Related Party”) shall have any liability for Guarantor’s obligations hereunder, except with respect to a
Related Party that is also a guarantor of such obligations and except as otherwise provided in the Documents. 
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 [SIGNATURES ON FOLLOWING PAGE] 

  
 6 

Prudential Loan No. 706109202 
 CNL MOB
Portfolio 
 Supplemental Guaranty (Doctors Specialty Hospital) 

 EXECUTED this 16th day of August, 2013. 

 

					
	GUARANTOR:
	
	CHP LEAWOOD KS MOB OWNER, LLC, a Delaware limited liability company
			
	By:	 	 /s/ Joshua J. Taube
	 	[SEAL]
	Name:	 	Joshua J. Taube	 	
	Title:	 	Vice President	 	

 The address of Guarantor and the Related Borrowers is: 

c/o CNL Healthcare Properties, Inc. 
 450 South
Orange Avenue 
 Orlando, Florida 38201 

Attention: Joseph T. Johnson, SVP and CFO and 
 Holly J. Greer, SVP and General Counsel 
 With a copy to: 

Lowndes, Drosdick, Doster, Kantor & Reed, P.A. 
 215 N. Eola Drive 
 Orlando, Florida 38201 
 Attention: Peter Luis Lopez, Esq. 
 The address of Lender is: 

The Prudential Insurance Company of America 

c/o Prudential Asset Resources, Inc. 
 2100 Ross
Avenue, Suite 2500 
 Dallas, Texas 75201 
 Attention: Asset Management Department 
 Reference Loan No. 706109202 

With a copy to: 
 The Prudential
Insurance Company of America 
 c/o Prudential Asset Resources, Inc. 
 2100 Ross Avenue, Suite 2500 
 Dallas, Texas 75201 

Attention: Legal Department 
 Reference Loan
No. 706109202 

  
 7 

Prudential Loan No. 706109202 
 CNL MOB
Portfolio 
 Supplemental Guaranty (Doctors Specialty Hospital)

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