Document:

Blueprint

 

Exhibit 10.1

 

CONSULTING AGREEMENT AMENDMENT

 

CONSULTING AGREEMENT AMENDMENT (this
“Amendment”), effective as of January 1, 2020, by and
among Pharma-Bio Serv, Inc., a Delaware corporation (the
“Company”), Strategic Consultants International, LLC, a
Puerto Rico registered Limited Liability Corporation (the
“Consultant”), and Elizabeth Plaza, residing in Dorado,
Puerto Rico (“Plaza”).

 

W I T N
E S S E T H:

 

WHEREAS, the Company, Consultant and Plaza have entered into
that certain Consulting Agreement, effective as of January 1, 2014,
as such Consulting Agreement has been and may be amended, restated
or otherwise modified from time to time (the "Consulting
Agreement"). Capitalized terms used but not defined herein shall
have the meaning ascribed to such terms in the Consulting
Agreement; and

 

WHEREAS, the Company, Consultant and Plaza desire to modify
the Consulting Agreement.

 

NOW THEREFORE, for good and valuable consideration, the
receipt and adequacy of which is hereby acknowledged, the parties
hereto agree as follows:

 

1.

The following shall
be added to the end of Section 2 of the Consulting
Agreement:

 

This
Agreement shall be extended through December 31, 2020. For purposes
of this Agreement, “Extension Term” shall mean the
period from January 1, 2020 through December 31, 2020. All
references in this Agreement to the “Term” shall
include the “Extension Term,” unless specifically
indicated otherwise.

 

2.

All references to
the “year ending October 31, 2019” in Section 5 of the
Consulting Agreement shall be amended and replaced with the
“year ending October 31, 2020.”

 

3.

Except as expressly
amended by the terms of this Amendment and all prior amendments to
the Consulting Agreement, the terms of the Consulting Agreement
shall remain in effect and are unchanged by this
Amendment.

 

IN WITNESS WHEREOF, the parties have executed this Amendment
in Dorado, Puerto Rico, this 27th day of December,
2019.

 

	

PHARMA-BIO SERV, INC.

 

 

By:
/s/ Pedro J.
Lasanta                                                                 

Name:
Pedro J. Lasanta

Title: Chief Financial Officer and Vice
President-Finance and Administration and
Secretary

	
 

	

STRATEGIC CONSULTANTS INTERNATIONAL LLC:

 

 

By:
/s/ Elizabeth
Plaza                                                             

Name:
Elizabeth Plaza

Title:
Consultant

 

	
 

	
 

	

/s/ Elizabeth
Plaza                                                              

Elizabeth
Plaza, individuallyExhibit 10.1

 

EXECUTION COPY

	 

 

AMENDED
AND RESTATED LOAN AGREEMENT

 

Dated as of December 20, 2019

 

by and among

 

THE PARTIES LISTED ON EXHIBIT B ATTACHED
HERETO,

as Borrowers

 

and

 

CAPITAL ONE, NATIONAL ASSOCIATION,

as
Administrative Agent and a Lender,

 

THE FINANCIAL INSTITUTIONS WHO ARE OR
HEREAFTER

BECOME PARTIES TO THIS LOAN AGREEMENT,

as Lenders,

 

****************************************

with

 

CAPITAL
ONE, NATIONAL ASSOCIATION

as Sole Lead Arranger, Bookrunner and Administrative Agent

 

and

 

THE FINANCIAL INSTITUTIONS
WHICH MAY SERVE AS

RIGHT LEAD ARRANGERS, DOCUMENTATION AGENTS

AND SYNDICATION AGENTS HEREUNDER

FROM TIME TO TIME

	 

 

     

     

    

 

Table
of Contents 

 

		 	Page

 

	ARTICLE 1	DEFINITIONS	1
	Section 1.1	Certain Definitions	1
	Section 1.2	Definitions	30
	Section 1.3	Phrases	30
	 	 	 
	ARTICLE 2	LOAN TERMS	30
	Section 2.1	The Loan	30
	Section 2.2	Interest Rate; Late Charge	31
	Section 2.3	Terms of Payment	31
	Section 2.4	Prepayment	32
	Section 2.5	Security; Establishment of Funds; Deposit Accounts	33
	Section 2.6	Application of Payments	35
	Section 2.7	Sources and Uses	36
	Section 2.8	Increased Costs	36
	Section 2.9	Illegality; Market Disruption Event	37
	Section 2.10	Interest Rate Protection	39
	Section 2.11	Libor Breakage Amount	39
	Section 2.12	Evidence of Debt; Loan Accounts	39
	Section 2.13	[Reserved]	40
	Section 2.14	Mitigation Obligations; Replacement of Lenders	41
	Section 2.15	Pro Rata Treatment; Sharing of Payments	42
	Section 2.16	Fees and Expenses	42
	Section 2.17	Taxes	43
	Section 2.18	Partial Releases	47
	Section 2.19	Defaulting Lenders	50
	 	 	 
	ARTICLE 3	INSURANCE, CONDEMNATION AND IMPOUNDS	51
	Section 3.1	Insurance	51
	Section 3.2	Use and Application of Insurance Proceeds	56
	Section 3.3	Condemnation Awards	58
	Section 3.4	Insurance Impounds	59
	Section 3.5	Real Estate Tax Impounds	60
	 	 	 
	ARTICLE 4	LEASING MATTERS	61
	Section 4.1	Representations and Warranties on Leases	61
	Section 4.2	Standard Lease Form; Approval Rights	61
	Section 4.3	Covenants	62
	Section 4.4	Tenant Estoppels	62
	Section 4.5	Deemed Approval	63

 

LOAN
AGREEMENT – PAGE i

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Table of Contents

 

		 	Page

 

	ARTICLE 5	REPRESENTATIONS AND WARRANTIES	63
	Section 5.1	Organization, Power and Authority; Formation Documents	63
	Section 5.2	Validity of Loan Documents	64
	Section 5.3	Liabilities; Litigation	64
	Section 5.4	Taxes and Assessments	64
	Section 5.5	Other Agreements Defaults	64
	Section 5.6	Compliance with Laws	65
	Section 5.7	Condemnation	65
	Section 5.8	Access	65
	Section 5.9	Location of Borrowers	65
	Section 5.10	ERISA Employees	65
	Section 5.11	Use of Loan Proceeds	66
	Section 5.12	Margin Stock	66
	Section 5.13	Forfeiture	66
	Section 5.14	Tax Filings	66
	Section 5.15	Solvency	66
	Section 5.16	Full and Accurate Disclosure; No Material Adverse Change	67
	Section 5.17	Flood Zone	67
	Section 5.18	Single Purpose Entity/Separateness	67
	Section 5.19	Compliance with International Trade Control Laws and OFAC Regulations	70
	Section 5.20	Borrowers’ Funds	71
	Section 5.21	Management Agreements	72
	Section 5.22	Physical Condition	72
	Section 5.23	No Change in Facts or Circumstances; Disclosure	73
	Section 5.24	Ground Leases	73
	 	 	 
	ARTICLE 6	FINANCIAL REPORTING	74
	Section 6.1	Financial Statements	74
	Section 6.2	Compliance Certificate	76
	Section 6.3	Accounting Principles	76
	Section 6.4	Access	76
	Section 6.5	Annual Budget	77
	Section 6.6	Books and Records/Audits	77
	Section 6.7	Borrower Representative	77
	 	 	 
	ARTICLE 7	COVENANTS	78
	Section 7.1	Transfers or Encumbrance of Property	78
	Section 7.2	Taxes and Utility Charges	79
	Section 7.3	Management	79
	Section 7.4	Operation; Maintenance; Inspection	80
	Section 7.5	Taxes on Security	81
	Section 7.6	Legal Existence, Name, Etc.	81
	Section 7.7	Further Assurances	81
	Section 7.8	Estoppel Certificates Regarding Loan	82
	Section 7.9	Notice of Certain Events	82
	Section 7.10	Payment for Labor and Materials	82
	Section 7.11	Use and Proceeds, Revenues	83
	Section 7.12	Compliance with Laws and Contractual Obligations	83
	Section 7.13	Operating and Financial Covenants	83
	Section 7.14	[Reserved]	86
	Section 7.15	Transactions with Affiliates	86
	Section 7.16	Representations and Warranties	86
	Section 7.17	Alterations	86
	Section 7.18	Business and Operations	86
	Section 7.19	Severability of Covenants	86
	Section 7.20	Required Repairs and Post Closing Obligations	86
	Section 7.21	Ground Leases	87
	Section 7.22	Restrictions on Distributions, Dividends	89

 

LOAN
AGREEMENT – PAGE ii

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Table of Contents

 

		 	Page

 

	ARTICLE 8	EVENTS OF DEFAULT	89
	Section 8.1	Payments	89
	Section 8.2	Insurance	89
	Section 8.3	Prohibited Transfer	89
	Section 8.4	Covenants	89
	Section 8.5	Representations and Warranties	90
	Section 8.6	Other Encumbrances	90
	Section 8.7	Collateral	90
	Section 8.8	Involuntary Bankruptcy or Other Proceeding	90
	Section 8.9	Voluntary Petitions, Etc.	90
	Section 8.10	Default Under Operators’ Agreements and Triple Net Leases	90
	Section 8.11	[Reserved]	90
	Section 8.12	Certain Covenants	90
	Section 8.13	Financial Information	91
	Section 8.14	Default Under Recourse Guaranty Agreement	91
	Section 8.15	Criminal Act	91
	Section 8.16	[Reserved]	91
	Section 8.17	Environmental Indemnity Agreement	91
	Section 8.18	Required Repairs and Post Closing Obligations	91
	Section 8.19	Secured Hedge Agreement	91
	Section 8.20	Ground Leases	91
	Section 8.21	[Reserved]	91
	Section 8.22	Change of Control	91
	 	 	 
	ARTICLE 9	REMEDIES	91
	Section 9.1	Remedies - Insolvency Events	91
	Section 9.2	Remedies - Other Events; Protective Advances	92
	Section 9.3	Administrative Agent’s Right to Perform the Obligations	93
	Section 9.4	Special Cure Right to Cure with Respect to Operational Defaults	93
	 	 	 
	ARTICLE 10	ADMINISTRATIVE AGENT	94
	Section 10.1	Appointment and Duties	94
	Section 10.2	Binding Effect	95
	Section 10.3	Use of Discretion	95
	Section 10.4	Delegation of Rights and Duties	96
	Section 10.5	Reliance and Liability	96
	Section 10.6	Administrative Agent Individually	97
	Section 10.7	Lender Credit Decision	98
	Section 10.8	Expenses	98
	Section 10.9	Resignation of Administrative Agent	98
	Section 10.10	Additional Secured Parties	99
	Section 10.11	Reliance by Administrative Agent	100
	Section 10.12	Rights as a Lender	100
	Section 10.13	Standard of Care; Indemnification	100
	Section 10.14	Failure to Act	101
	Section 10.15	Titles	101

 

LOAN
AGREEMENT – PAGE iii

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Table of Contents

 

	 	 	Page

	 	 	 
	ARTICLE 11	MISCELLANEOUS	101
	Section 11.1	Notices	101
	Section 11.2	Amendments and Waivers	104
	Section 11.3	Successors and Assigns	107
	Section 11.4	Indemnity	110
	Section 11.5	Debtor-Creditor Relationship	111
	Section 11.6	Right of Setoff	111
	Section 11.7	Sharing of Payments, Etc.	111
	Section 11.8	Marshaling; Payments Set Aside	111
	Section 11.9	Limitation on Interest	112
	Section 11.10	Invalid Provisions	112
	Section 11.11	Reimbursement of Expenses	113
	Section 11.12	Approvals; Third Parties; Conditions	114
	Section 11.13	Administrative Agent and Lenders Not in Control; No Partnership	114
	Section 11.14	Contest of Certain Claims	115
	Section 11.15	Time of the Essence	115
	Section 11.16	Acknowledgement and Consent to Bail-In of EEA Financial Institutions	115
	Section 11.17	Renewal, Extension or Rearrangement	116
	Section 11.18	Waivers	117
	Section 11.19	Joint and Several Liability of all Borrowers	117
	Section 11.20	Singular and Plural	122
	Section 11.21	Exhibits and Schedules	122
	Section 11.22	Titles of Articles, Sections and Subsections	122
	Section 11.23	Non-Public Information; Confidentiality	122
	Section 11.24	Survival	124
	Section 11.25	Waiver of Jury Trial	124
	Section 11.26	Waiver of Punitive or Consequential Damages	124
	Section 11.27	Governing Law	125
	Section 11.28	Entire Agreement	125
	Section 11.29	Counterparts	125
	Section 11.30	Consents and Approvals	125
	Section 11.31	Effectiveness of Facsimile Documents and Signatures	125
	Section 11.32	Venue	126
	Section 11.33	Important Information Regarding Procedures for Requesting Credit	126
	Section 11.34	Method of Payment	126
	Section 11.35	[Reserved]	126
	Section 11.36	Post-Closing Obligations of Borrowers	126
	Section 11.37	Release and Waiver Regarding Special Audits	127
	 	 	 
	ARTICLE 12	LIMITATIONS ON LIABILITY	128
	Section 12.1	Limitation on Liability	128
	Section 12.2	Limitation on Liability of Administrative Agent and Lenders’ Officers, Employees, Etc	131

 

LOAN
AGREEMENT – PAGE iv

HTI MOB Portfolio

 

     

     

    

 

EXHIBITS AND SCHEDULES

 

	Exhibits A-1 – A-33	Description of Projects
	Exhibit B	List of Borrowers
	Exhibit C	Form of Assignment Agreement
	Exhibit D	Names of Tenants
	Exhibit E	Lender Addresses and Commitments
	Schedule 1.1(a)	Ground Leases
	Schedule 1.1(b)	Management Agreements
	Schedule 1.1(c)	Pre-Approved Property Managers
	Schedule 1.1(d)	Recognition Agreements
	Schedule 2.1	Conditions to Advance of Loan Proceeds
	Schedule 2.5	Net Leases
	Schedule 4.1	Exceptions to Representations and Warranties Regarding Leases
	Schedule 5.1	Organization; Formation
	Schedule 5.4	Taxes and Assessments
	Schedule 5.7	Condemnation
	Schedule 5.9	Locations of Borrowers
	Schedule 6.2	Compliance Certificate
	Schedule 7.2	Joint Assessments
	Schedule 11.19	Allocated Loan Amounts for Projects
	Schedule 11.36	Post-Closing Obligations and Required Repairs

 

LOAN
AGREEMENT – PAGE v

HTI MOB Portfolio

 

     

     

    

 

AMENDED
AND RESTATED LOAN AGREEMENT

 

This Amended and Restated
Loan Agreement (including all exhibits and schedules hereto, as the same may be amended, modified, or restated from time to time,
this “Agreement”) is entered into as of December 20, 2019, by and among THE PARTIES LISTED ON EXHIBIT
B ATTACHED HERETO and each other entity that becomes a borrower hereunder pursuant to the terms hereof (each a “Borrower”
and collectively, “Borrowers”), CAPITAL ONE, NATIONAL ASSOCIATION (“CONA”),
as administrative agent and collateral agent for Lenders (as defined herein) (in such capacity and together with its successors
and permitted assigns, “Administrative Agent”), and THE FINANCIAL INSTITUTIONS WHO ARE OR HEREAFTER BECOME
PARTIES TO THIS AGREEMENT as Lenders (together with their successors and permitted assigns, each a “Lender”
and collectively, “Lenders”).

 

W
I T N E S S E T H:

 

WHEREAS, the borrowers
party thereto (collectively, the “Original Borrowers”), the Administrative Agent and certain lenders
are parties to that certain Loan Agreement dated as of the Original Closing Date (as amended, supplemented or otherwise modified
prior to the date hereof, the “Original Loan Agreement”), pursuant to which Administrative Agent and
the other “Lenders” identified therein made certain loans and other financial accommodations available to the Original
Borrowers on the terms and conditions set forth therein; and

 

WHEREAS, the Original
Borrowers, Administrative Agent and Lenders desire to amend and restate in its entirety the Original Loan Agreement, without constituting
a novation, all on the terms and subject to the conditions contained herein in order to, among other things, (a) refinance
the indebtedness existing under the Original Loan Agreement and (b) pay transaction fees incurred in connection with this
Agreement and the Loan (as defined below), subject to the terms and conditions set forth herein.

 

WHEREAS, each Lender
is willing to agree (severally and not jointly) to make such Loan and provide such financial accommodations to Borrowers in accordance
with its Pro Rata Share, on the terms and conditions set forth herein, and Administrative Agent is willing to act as agent for
Lenders on the terms and conditions set forth herein and the other Loan Documents.

 

NOW, THEREFORE, in
consideration of the covenants set forth in this Agreement, and other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the parties hereto hereby agree as follows:

 

ARTICLE
1

DEFINITIONS

 

Section 1.1          
Certain Definitions. As used herein, the following terms have the meanings indicated:

 

“Acceptable
Accounting Method” means (i) GAAP or (ii) an accrual-based accounting methodology reasonably acceptable
to Administrative Agent.

 

AMENDED
AND RESTATED LOAN AGREEMENT – PAGE 1

HTI MOB Portfolio

 

     

     

    

 

“ACH”
has the meaning assigned in Section 2.6(c).

 

“Acknowledgment
of Property Manager” means, collectively (whether one or more) the Acknowledgement and Agreement of Property Manager
(with respect to each of the Projects) executed by Property Manager in favor of Administrative Agent (on behalf of itself and Lenders).

 

“Additional
Transfer” has the meaning assigned in Section 11.35.

 

“Adjusted
Management Fee” means an amount equal to four percent (4%) of Consolidated Revenue.

 

“Adjusted
Net Operating Income” or “ANOI” means, for any Test Period, the sum (without duplication)
of (a) Consolidated Net Income plus (i) to the extent deducted in determining Consolidated Net Income, (A) Consolidated
Interest Expense, (B) expense for income taxes paid or accrued, (C) depreciation, (D) amortization and other non-recurring
non-cash charges, and (E) extraordinary losses (as determined in accordance with an Acceptable Accounting Method), minus
(ii) to the extent included in Consolidated Net Income, extraordinary gains (as determined in accordance with an Acceptable
Accounting Method), in each case, calculated for Borrowers and their subsidiaries on a consolidated basis in accordance with an
Acceptable Accounting Method, as adjusted by the Consolidated Revenue in Place Adjustment.

 

“Adjustment
Lease” means Qualifying Leases that (a) have monthly rental payments abated during the immediately subsequent
twelve-month period from the Test Date, (b) the aggregate monthly rental abatements do not exceed one (1) month per year of
the applicable new or incremental term, and (c) has an incremental or new term of three (3) years or more.

 

“Administrative
Agent” has the meaning assigned in the preamble to this Agreement.

 

“Administrative
Questionnaire” means an Administrative Questionnaire in a form supplied by Administrative Agent.

 

“Advisor”
means Healthcare Trust Advisors, LLC.

 

“Advisory
Agreement” means that certain Second Amended and Restated Advisory Agreement, dated as of February 17, 2017, as amended
by that certain Amendment No. 1 to Second Amended and Restated Advisory Agreement, dated as of July 25, 2019, by and among Advisor,
Sponsor and REIT (as such agreement may be further amended and in effect from time to time).

 

“Affiliate”
means, with respect to any Person, (a) any corporation in which such Person or any partner, shareholder, director,
officer, member, or manager of such Person directly or indirectly owns or controls more than twenty percent (20%) of the
beneficial interest, (b) any partnership, joint venture or limited liability company in which such Person or any
partner, shareholder, director, officer, member, or manager of such Person is a partner, joint venturer or member,
(c) any trust in which such Person or any partner, shareholder, director, officer, member or manager of such Person is a
trustee or beneficiary, (d) any Person which is directly or indirectly owned or controlled by such Person or any
partner, shareholder, director, officer, member or manager of such Person, or (e) any Person related by birth, adoption or
marriage to any partner, shareholder, director, officer, member, manager, or employee of such Person. Each Borrower Party
shall be deemed an Affiliate of Borrowers.

 

AMENDED
AND RESTATED LOAN AGREEMENT – PAGE 2

HTI MOB Portfolio

 

     

     

    

 

“Affiliated
Manager” means any property manager in which any Borrower, or any Affiliate of any Borrower has, directly or indirectly,
any legal, beneficial or economic interest.

 

“Agent Parties”
has the meaning assigned in Section 11.1(d)(ii).

 

“Agreement”
means this Loan Agreement, as amended, restated, supplemented, or otherwise modified from time to time.

 

“Allocated
Loan Amounts” means for each Project existing on the Closing Date, the amount of the Loan allocated to such Project
and set forth on Schedule 11.19 hereto.

 

“Alternate
Rate” has the meaning assigned in Section 2.9(c).

 

“Alternate
Rate Amendment” has the meaning assigned in Section 2.9(c).

 

“Alternate
Rate Event” means any of the following: (i) any Change in Law shall make it unlawful, or any central bank or other
Governmental Authority shall assert that it is unlawful, for any Lender to agree to make or to make or to continue to fund or maintain
any Loan bearing interest computed by reference to the Libor Rate, (ii) the Libor Rate is discontinued or is otherwise no longer
available, (iii) Administrative Agent determines in good faith (which determination shall be conclusive absent manifest error)
that (A) for any reason adequate and reasonable means do not exist for ascertaining the Libor Rate or that the Libor Rate does
not adequately and fairly reflect the cost to Lenders of funding or maintaining their respective Pro Rata Share of the Loan and,
in each case, such situation is unlikely to be temporary, (B) comparable loans are currently being executed and/or amended to include
or adopt a new benchmark rate or rates (including, without limitation, credit or similar adjustments, in each case, to such rate
or rates), or (C) there has been a public statement by a Governmental Authority identifying a specific date after which the Libor
Rate (or any component thereof) shall no longer be published for use in determining interest rates for loans.

 

“Anti-Money
Laundering Laws” means those laws, regulations and sanctions, state and federal, criminal and civil, that (a) limit
the use of and/or seek the forfeiture of proceeds from illegal transactions; (b) limit commercial transactions with designated
countries or individuals believed to be terrorists, narcotics dealers or otherwise engaged in activities contrary to the interests
of the United States; (c) require identification and documentation of the parties with whom a Financial Institution conducts
business; or (d) are designed to disrupt the flow of funds to terrorist organizations. Such laws, regulations and sanctions
shall be deemed to include the Patriot Act, the Bank Secrecy Act, TWEA, IEEPA, and the sanction regulations promulgated
pursuant thereto by the OFAC, as well as laws relating to prevention and detection of money laundering in 18 U.S.C. Sections
1956 and 1957.

 

AMENDED
AND RESTATED LOAN AGREEMENT – PAGE 3

HTI MOB Portfolio

 

     

     

    

 

“Annual Budget”
has the meaning assigned in Section 6.5.

 

“Applicable
Margin” has the meaning assigned in Section 2.2.

 

“Approved
Annual Budget” has the meaning assigned in Section 6.5.

 

“Approved
Expenses” means actual operating expenses set forth in the Approved Annual Budget; provided, however, any line item
of operating expense set forth in the Approved Annual Budget may be increased by up to 3% of the amount of such line item, in the
aggregate, so long as (i) the increase represents, without duplication, actual, additional operating expenses incurred by the applicable
Borrower, and (ii) Borrower details such additional expense in the Specified Compliance Certificate pertaining such applicable
period.

 

“Approved
Fund” means, with respect to Administrative Agent or any Lender, any Person (other than a natural Person) that (a) is
or will be engaged in making, purchasing, holding or otherwise investing in commercial loans and similar extensions of credit in
the ordinary course of its business, and (b) is advised or managed by (i) Administrative Agent or such Lender or (ii) any
Affiliate of Administrative Agent or such Lender.

 

“Approved
L/C Provider” means KeyBank National Association so long as KeyBank maintains a rating of not less than BBB-, BAA3.

 

“Assignment
Agreement” means an assignment agreement entered into by a Lender, as assignor, and any Person, as assignee, pursuant
to the terms and provisions of Section 11.3 (with the consent of any party whose consent is required by Section 11.3),
accepted by Administrative Agent, substantially in the form of Exhibit C or any other form approved by Administrative
Agent.

 

“Assignment
of Hedge Agreement” means any Assignment of Interest Rate Protection Agreement executed and delivered by the hedge
provider and the counterparty under the Hedge Agreement to Administrative Agent (on behalf of itself and Lenders), as amended,
restated, supplemented, or otherwise modified from time to time.

 

“Assignment
of Ownership Interests” means the Amended and Restated Ownership Pledge of Membership Interests and Security Agreement,
executed for the benefit of Administrative Agent (on behalf itself and Lenders) (i) by Sponsor and pertaining to all of the
membership interests in each Borrower other than ARHC PRARHC PRPEOAZ01, LLC and ARHC PRPEOAZ05 TRS, LLC, (ii) by ARHC Plaza
Del Rio Medical Office Campus Member 1, LLC with respect to all of the membership interests in ARHC PRARHC PRPEOAZ01, LLC, and
(iii) by ARHC Plaza Del Rio Medical Office Campus Member 2, LLC with respect to all of the membership interests in ARHC PRPEOAZ05
TRS, LLC, as amended, restated, supplemented, or otherwise modified from time to time.

 

“ASTM”
means the American Society for Testing and Materials.

 

“Award”
has the meaning assigned in Section 3.3.

 

AMENDED
AND RESTATED LOAN AGREEMENT – PAGE 4

HTI MOB Portfolio

 

     

     

    

 

 

“Bail-In
Action” means the exercise of any Write-Down and Conversion Powers by the applicable EEA Resolution Authority in
respect of any liability of an EEA Financial Institution.

 

“Bail-In
Legislation” means, with respect to any EEA Member Country implementing Article 55 of Directive 2014/59/EU of the
European Parliament and of the Council of the European Union, the implementing law for such EEA Member Country from time to time
which is described in the EU Bail-In Legislation Schedule.

 

“Bank Secrecy
Act” means the Bank Secrecy Act, 31 U.S.C. Section 5311, et seq.

 

“Bankruptcy
Code” the Federal Bankruptcy Reform Act of 1978, 11 U.S.C. Section 101 et seq., as the same may be amended
from time to time.

 

“Bankruptcy
Party” has the meaning assigned in Section 8.8.

 

“Base Rate”
means, for any day, a rate per annum equal to the rate last quoted by The Wall Street Journal as the “Prime Rate” in
the United States or, if The Wall Street Journal ceases to quote such rate, the highest per annum interest rate published by the
Federal Reserve Board in Federal Reserve Statistical Release H.15 (519) (Selected Interest Rates) as the “bank prime loan”
rate or, if such rate is no longer quoted therein, any similar rate quoted therein (as determined by Administrative Agent) or any
similar release by the Federal Reserve Board (as determined by Administrative Agent).

 

“Borrower”
and “Borrowers” have the meaning assigned in the preamble to this Agreement.

 

“Borrower
Formation Documents” has the meaning assigned in Section 5.1(b).

 

“Borrower
Materials” has the meaning assigned in Section 11.23(e).

 

“Borrower
Party” means each Borrower and each Guarantor.

 

“Borrower
Representative” has the meaning assigned in Section 6.7(a).

 

“Borrowers’
Knowledge” means the actual knowledge, without additional due diligence, of a Borrower in the regular course of its
activities, including without limitation the knowledge of a Borrower acquired through its administration of the Leases, written
information received from any Property Manager and written notices provided to a Borrower by State regulators and/or other governmental
or quasi-governmental agencies having jurisdiction over the Projects.

 

“Business
Day” means a day other than a Saturday, a Sunday, or a legal holiday on which national banks located in the State
of New York are not open for general banking business. If such day relates to the determination of the Libor Rate, “Business
Day” means any such day on which dealings in Dollar deposits are conducted by and between banks in the London interbank
Eurodollar market.

 

AMENDED AND RESTATED LOAN
AGREEMENT – PAGE 5

HTI MOB Portfolio

 

     

     

    

 

“Careplex
Project” means that certain Project owned by ARHC CPHAMVA01, LLC and commonly referred to as 4001 Coliseum Drive,
Hampton, Virginia.

 

“Cash Equivalents”
means (a) any readily-marketable securities (i) issued by, or directly, unconditionally and fully guaranteed or insured
by the United States federal government or (ii) issued by any agency of the United States federal government the obligations
of which are fully backed by the full faith and credit of the United States federal government, (b) any readily-marketable
direct obligations issued by any other agency of the United States federal government, any state of the United States or any political
subdivision of any such state or any public instrumentality thereof, in each case having a rating of at least “A-1”
from S&P or at least “P-1” from Moody’s, (c) any commercial paper rated at least “A-1” by
S&P or “P-1” by Moody’s and issued by any Person organized under the laws of any state of the United States,
(d) any Dollar-denominated time deposit, insured certificate of deposit, overnight bank deposit or bankers’ acceptance
issued or accepted by (i) any Lender or (ii) any commercial bank that is (A) organized under the laws of the United
States, any state thereof or the District of Columbia, (B) “adequately capitalized” (as defined in the regulations
of its primary federal banking regulators) and (C) has Tier 1 capital (as defined in such regulations) in excess of $250,000,000
and (e) shares of any United States money market fund that (i) has substantially all of its assets invested continuously
in the types of investments referred to in clause (a), (b), (c) or (d) above with maturities as set forth in the proviso below,
(ii) has net assets in excess of $500,000,000 and (iii) has obtained from either S&P or Moody’s the highest
rating obtainable for money market funds in the United States; provided, however, that the maturities of all obligations
specified in any of clauses (a), (b), (c) or (d) above shall not exceed 365 days.

 

“Cash Flow
Requirements” has the meaning assigned in Section 7.13(b)(ii).

 

“Casualty”
has the meaning assigned in Section 3.2(a).

 

“Change in
Law” means the occurrence, after the date of this Agreement, of any of the following: (a) the adoption or taking
effect of any law, rule, regulation or treaty, (b) any change in any law, rule, regulation or treaty or in the interpretation
or application thereof by any Governmental Authority or (c) compliance by Administrative Agent or any Lender with any request,
guideline or directive (whether or not having the force of law) of any Governmental Authority made or issued after the date of
this Agreement; provided, however, that notwithstanding anything herein to the contrary, (i) the Dodd-Frank
Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines, requirements and directives thereunder or issued
in connection therewith or in implementation thereof and (ii) all requests, rules, guidelines, requirements and directives
promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar
authority) or the United States or foreign regulatory authorities, in each case pursuant to Basel III, shall be deemed to be a
“Change in Law”, regardless of the date enacted, adopted, issued or implemented.

 

“Change of
Control” means the occurrence of any of the following, except as otherwise approved in advance in writing by Lenders
in their sole and absolute discretion acting reasonably:

 

AMENDED AND RESTATED LOAN
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(a)              
before the Internalization, the Advisor or a replacement advisor consented to in writing by the Required Lenders, shall
fail to be the advisor of the REIT or the Sponsor; or

 

(b)              
any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the Exchange
Act) becomes the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the Exchange Act), directly or
indirectly, of twenty percent (20%) or more of the equity securities of REIT entitled to vote for members of the board of directors
or equivalent governing body of REIT on a fully-diluted basis; or

 

(c)              
after the Internalization, fewer than three-fifths of the members of the board of the directors of the REIT as of the date
of the Internalization cease to be on the board of directors of the REIT or the Chief Executive Officer or Chief Financial Officer
dies, becomes disabled or is replaced or resigns; provided it shall not be a “Change of Control” if a replacement executive
of comparable experience and reasonably satisfactory to the Administrative Agent shall have been retained within six (6) months
of such event.

 

(d)              
REIT, together with any Affiliates Controlled by REIT, at any time ceases to own and Control, directly or indirectly, fifty-one
percent (51%) or more of the issued and outstanding stock, partnership interests, or membership interests of Sponsor and Borrowers;
or

 

(e)              
[reserved]; or

 

(f)               
REIT ceases to own and Control, directly or indirectly, one hundred percent (100%) of the general partnership interest of
Sponsor; or

 

(g)              
Sponsor ceases to own and Control, directly or indirectly, (i) one hundred percent (100%) of the issued and outstanding
stock, partnership interests, or membership interests of Borrowers other than ARHC PRPEOAZ01, LLC or ARHC PRPEOAZ05 TRS, LLC or
(ii) 98% of ARHC PRPEOAZ01, LLC and ARHC PRPEOAZ05 TRS, LLC.

 

in each instance in clause (d),
free and clear of all liens, rights, options, warrants or other similar agreements or understandings, other than Liens in favor
of Administrative Agent, for the benefit of the Secured Parties; and provided, that any Transfer of more than a twenty percent
(20%) (or such lesser percentage as may be required from time to time to satisfy applicable regulatory requirements) direct or
indirect interest in Borrowers shall be subject to completion of customer diligence by Administrative Agent and each Lender reasonably
satisfactory to Administrative Agent and each Lender.

 

“Closing
Date” means the date the Loan is funded by Lenders.

 

“Code”
means the Internal Revenue Code of 1986, as amended, and as it may be further amended from time to time, any successor statutes
thereto, and applicable U.S. Department of Treasury regulations issued pursuant thereto in temporary or final form.

 

AMENDED AND RESTATED LOAN
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“Collateral”
means all real and personal property with respect to which Liens in favor of Administrative Agent (for the benefit of
Lenders) are granted pursuant to the Loan Documents and which secure the Obligations described in the Loan Documents and the
Secured Hedge Agreement, and includes, without limitation, all of each Borrower’s right, title and interest in, to and
under all personal property, real property, and other assets that arise from, are used in connection with, are related to or
are located at the Projects, whether now owned by or hereafter acquired by any Borrower (including all personal property and
other assets owned or acquired under any trade names, styles or derivations thereof), regardless of where located.

 

“Commodity
Exchange Act” means the Commodity Exchange Act (7 U.S.C. § 1 et seq.).

 

“Compliance
Certificate” means the compliance certificate in the form of Schedule 6.2 attached hereto.

 

“CONA”
means Capital One, National Association, together with its successors and assigns.

 

“Condemnation”
has the meaning assigned in Section 3.3.

 

“Connection
Income Taxes” means Other Connection Taxes that are imposed on or measured by net income (however denominated) or
that are franchise Taxes or branch profits Taxes.

 

“Consolidated
Adjusted Debt Service” means the sum of (a) Consolidated Interest Expense and (b) if as of the Test Date
no scheduled principal payments are then payable on the Loan, the principal payment that would be required for the aggregate amount
funded) pursuant to the terms of this Agreement assuming a 30-year mortgage amortization at the swapped rate pursuant to any then
effective Hedge Agreement (for purposes of clarification, if a full twelve (12) months of amortization payments have not been made,
than such amortization shall be adjusted for twelve (12) months of payments), and (c) principal due (other than balloon payments
due at maturity) during such period under the Loan, if any, and under any other permitted Debt relating to the Projects or Borrowers
and their subsidiaries, which Debt is expressly approved by Administrative Agent but not including payments applied to escrows
or reserves required by this Agreement.

 

“Consolidated
Expenses” means the expenses for the Test Period that would have been used to calculate the net income (or loss)
of Borrowers and their subsidiaries including the Adjusted Management Fee, calculated on a consolidated basis for such period in
accordance with an Acceptable Accounting Method (and specifically excluding an amount for capital expenditures equal to $0.15 per
rentable square foot in each Project per annum, pro-rated for such Test Period to the extent reserved hereunder).

 

“Consolidated
Interest Expense” means for the Test Period, the sum of (a) total interest expense on all Debt of
Borrowers and their subsidiaries (including payments made under any Hedge Agreement, and expenses attributable to capital
lease obligations (if permitted hereunder) in accordance with an Acceptable Accounting Method), plus (b) fees
with respect to all outstanding Debt including capitalized interest, but excluding commissions, discounts and other fees owed
with respect to letters of credit and bankers’ acceptance financing and net costs under Hedge Agreements, minus
(c) payments received under Hedge Agreements, all calculated for Borrowers and their subsidiaries on a consolidated
basis in accordance with an Acceptable Accounting Method.

 

AMENDED AND RESTATED LOAN
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“Consolidated
Net Income” means, as of any date of determination, the sum of (a) Consolidated Revenue, minus (b) Consolidated
Expenses, minus (c) an amount for capital expenditures equal to $0.15 per rentable square foot in each Project per
annum, pro-rated for such Test Period.

 

“Consolidated
Revenue” means the rental payments or other ordinary course payments scheduled to be received in cash by Borrowers
and their subsidiaries under Qualifying Leases on an annualized basis on such Test Date adjusted to reflect maximum occupancy of
ninety-five percent (95%) of each Project in the aggregate (however any Project that is entirely leased by a single tenant shall
not be subject to an occupancy adjustment). For Qualifying Leases which expire less than twelve (12) months from the Test Date,
the Consolidated Revenue will be annualized.

 

“Consolidated
Revenue in Place Adjustment” means, as of the date of determination in the aggregate, without duplication of any
rental payments for the Projects or otherwise included in determining Consolidated Net Income, for any Adjustment Lease the amount
equal to, the monthly rental payments abated during such immediately subsequent twelve (12) months from the Test Date; provided,
however, in no event shall any Adjustment Lease be adjusted for more than two (2) months of abated rent in the aggregate
for such Adjustment Lease during the term of the Loan.

 

“Contract
Rate” has the meaning assigned in Section 2.2.

 

“Control”
or “controls” means, when used with respect to any specified Person, the power to direct the management
and policies of such Person, directly or indirectly, whether through the ownership of voting securities or other beneficial interests,
by contract, by its position with such Person as general partner or managing member, or otherwise (even if such power is subject
to the right of other equity holders to exercise veto rights over major decisions, removal rights upon a material default in the
controlling party’s obligations, or a forced sale right upon the occurrence of specified events); and the terms “Controlling”
and “Controlled” have the meanings correlative to the foregoing.

 

“De Minimis
Lease” means any Lease which does not exceed five thousand (5,000) rentable square feet of any Individual Project
and the rent from which equals five percent (5%) or less of the total revenue of all Projects in the aggregate; provided,
however, that multiple Leases with the same Tenant or known Affiliates of such Tenants shall constitute one (1) Lease for
purposes of this definition if with respect to a subject Lease action or lease event, such multiple Leases are affected.

 

AMENDED AND RESTATED LOAN
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“Debt”
means, for any Person, without duplication: (a) all indebtedness of such Person for borrowed money, for amounts drawn
under a letter of credit, or for the deferred purchase price of property for which such Person or any of its assets is
liable, (b) all unfunded amounts under a loan agreement, letter of credit, or other credit facility for which such
Person or any of its assets would be liable or subject, if such amounts were advanced under the credit facility, (c) all
amounts required to be paid by such Person as a guaranteed payment to partners or a preferred or special dividend, including
any mandatory redemption of shares or interests, (d) all indebtedness guaranteed by such Person, directly or indirectly,
(e) all obligations under leases that constitute capital leases for which such Person or any of its assets is liable or
subject, and (f) all obligations of such Person under interest rate swaps, caps, floors, collars and other interest
hedge agreements, in each case whether such Person or any of its assets is liable or subject contingently or otherwise, as
obligor, guarantor or otherwise, or in respect of which obligations such Person otherwise assures a creditor against
loss.

 

“Debt Service
Coverage Ratio” means for the applicable period, as of the date of determination, the ratio obtained by dividing
(a) Adjusted Net Operating Income by (b) Consolidated Adjusted Debt Service.

 

“Debt Yield”
means for the applicable period, as of the date of determination, the percentage obtained by dividing Adjusted Net Operating Income
by the aggregate amount of the Loan then outstanding. In the event that Debt Yield for a period of twelve (12) months (or other
calculation period) is not available, Borrowers shall annualize the Debt Yield for such period of time as is available.

 

“Debt Yield
Fund” has the meaning assigned in Section 7.13(b).

 

“Debt Yield
Covenant Threshold” means the applicable Debt Yield set forth under the heading “Minimum Debt Yield Covenant
Threshold” in the table in Section 7.13(a).

 

“Debt Yield
ECF Threshold” means the applicable Debt Yield set forth under the heading “Minimum Debt Yield ECF Threshold”
in the table in Section 7.13(a).

 

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

 

“Default
Rate” means the lesser of (a) the maximum rate of interest allowed by applicable law, and (b) five percent
(5%) per annum in excess of the Contract Rate.

 

AMENDED AND RESTATED LOAN
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“Defaulting
Lender” means, subject to Section 2.19(b), any Lender that (a) has failed to (i) fund
all or any portion of its Loans or any Protective Advance within two (2) Business Days of the date such Loans were required
to be funded hereunder unless such Lender notifies Administrative Agent and Borrowers in writing that such failure is the
result of such Lender’s determination that one or more conditions precedent to funding (each of which conditions
precedent, together with any applicable default, shall be specifically identified in such writing) has not been satisfied, or
(ii) pay to Administrative Agent or any Lender any other amount required to be paid by it hereunder within two (2)
Business Days of the date when due, (b) has notified Borrowers and Administrative Agent in writing that it does not
intend to comply with its funding obligations hereunder, or has made a public statement to that effect (unless such writing
or public statement relates to such Lender’s obligation to fund a Loan hereunder and states that such position is based
on such Lender’s determination that a condition precedent to funding (which condition precedent, together with any
applicable default, shall be specifically identified in such writing or public statement) cannot be satisfied), (c) has
failed, within two (2) Business Days after written request by Agent or Borrowers, to confirm in writing to Agent and
Borrowers that it will comply with its prospective funding obligations hereunder (provided that such Lender shall cease to be
a Defaulting Lender pursuant to this clause (c) upon receipt of such written confirmation by Agent and Borrowers), or
(d) has, or has a direct or indirect parent company that has, (i) become the subject of a proceeding under any
Debtor Relief Law, (ii) had appointed for it a receiver, custodian, conservator, trustee, administrator, assignee for
the benefit of creditors or similar Person charged with reorganization or liquidation of its business or assets,
including the Federal Deposit Insurance Corporation or any other state or federal regulatory authority acting in such a
capacity, or (iii) become the subject of a Bail-in Action; provided that a Lender shall not be a Defaulting
Lender solely by virtue of the ownership or acquisition of any equity interest in that Lender or any direct or indirect
parent company thereof by a Governmental Authority so long as such ownership interest does not result in or provide such
Lender with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs
of attachment on its assets or permit such Lender (or such Governmental Authority) to reject, repudiate, disavow or disaffirm
any contracts or agreements made with such Lender. Any determination by Agent that a Lender is a Defaulting Lender under any
one or more of clauses (a) through (d) above shall be conclusive and binding absent manifest error, and such Lender shall be
deemed to be a Defaulting Lender (subject to Section 2.19(b)) upon delivery of written notice of such
determination to Borrowers and each Lender.

 

“Deposit
Account” means a “deposit account” (as defined in Article 9 of the UCC), an investment account,
or other account in which funds are held or invested for credit to or for the benefit of any Borrower.

 

“Deposit
Account Bank” means, as applicable, (a) Administrative Agent or (b) another bank or financial institution
reasonably acceptable to Administrative Agent.

 

“Deposit
Account Control Agreement” means individually or collectively, as applicable, (a) each agreement, in form and
substance reasonably satisfactory to Administrative Agent, among Administrative Agent, Borrower and the Deposit Account Bank, which
agreements provide for the disposition of funds in such account, and (b) such bank shall agree that it shall have no Lien
on, or right of setoff or recoupment against, such Deposit Account or the contents thereof, other than in respect of commercially
reasonable fees and other items, in each such case expressly reasonably consented to by Administrative Agent.

 

“Dollars”
and the sign “$” each mean the lawful money of the United States of America.

 

“EEA Financial
Institution” means (a) any credit institution or investment firm established in any EEA Member Country which
is subject to the supervision of an EEA Resolution Authority, (b) any entity established in an EEA Member Country which is
a parent of an institution described in clause (a) of this definition, or (c) any Financial Institution established in an
EEA Member Country which is a subsidiary of an institution described in clauses (a) or (b) of this definition and is subject to
consolidated supervision with its parent.

 

AMENDED AND RESTATED LOAN
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“EEA Member
Country” means any of the member states of the European Union, Iceland, Liechtenstein, and Norway.

 

“EEA Resolution
Authority” means any public administrative authority or any person entrusted with public administrative authority
of any EEA Member Country (including any delegee) having responsibility for the resolution of any EEA Financial Institution.

 

“Electronic
Transmission” means any process of communication that does not directly involve the physical transfer of paper and
that is suitable for the retention, retrieval and reproduction of information by the recipient.

 

“Eligible
Assignee” means (a) any existing Lender, (b) any Affiliate or Approved Fund of any existing Lender, or
(c) any other Person acceptable to Administrative Agent and, to the extent required by Section 11.3, Borrower Representative.
Notwithstanding the foregoing, none of Borrowers, any of their Subsidiaries, any of their Affiliates, any Defaulting Lender, or
any natural person (or any holding company, investment vehicle, or trust for, or owned and operated for, the primary benefit of
a natural person) shall be an Eligible Assignee.

 

“Emergency
Expenditures” means payments required to be made by any Borrower to (i) avoid or minimize the imminent threat
of either (a) loss or impairment of life or of personal injury, (b) damage to any of the Projects, (c) impairment of the security
given for the Loan, (ii) payments for real estate taxes and insurance premiums or (iii) without limiting the generality of the
provisions of the preceding clause (i), make any repairs or capital improvements or take other action immediately required in order
to avoid a significant penalty by reason of failure of compliance with any laws, orders, rules, regulations and other requirements
enacted, imposed or enforced by any Governmental Authority.

 

“Environmental
Indemnity Agreement” means that certain Amended and Restated Hazardous Materials Indemnity Agreement dated of even
date hereof in favor of Administrative Agent (for itself and on behalf of Lenders) executed by Borrowers and each Guarantor with
respect to the Projects, in each case as amended, restated, supplemented, or otherwise modified from time to time.

 

“Environmental
Laws” means any federal, state or local law (whether imposed by statute, ordinance, rule, regulation, administrative
or judicial order, or common law), now or hereafter enacted, governing Hazardous Materials, including, without limitation, such
laws (a) governing or regulating the use, generation, storage, removal, recovery, treatment, handling, transport, disposal,
control, release, discharge of, or exposure to, Hazardous Materials or (b) requiring notification or disclosure of releases
of Hazardous Materials or other environmental conditions whether or not in connection with a transfer of title to or interest in
property.

 

“ERISA”
means the Employee Retirement Income Security Act of 1974, as amended from time to time, and all rules and regulations promulgated
thereunder.

 

AMENDED AND RESTATED LOAN
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“E-System”
means any electronic system approved by Agent, including Intralinks®, Syndtrak®, and ClearPar® and any other
Internet or extranet-based site, whether such electronic system is owned, operated or hosted by Agent, any of its Related
Persons or any other Person, providing for access to data protected by passcodes or other security system.

 

“EU Bail-In
Legislation Schedule” means the EU Bail-In Legislation Schedule published by the Loan Market Association (or any
successor person), as in effect from time to time.

 

“Event of
Default” has the meaning assigned in Article 8.

 

“Excess Cash
Flow” means, for each monthly period, all revenue and other amounts received by the Borrowers after payment of debt
service on the Loan for such month less (a) reserves required pursuant to Section 2.5 hereof for such month, (b) Approved
Expenses for such month, (b) extraordinary operating expenses and capital expenditures included in the Approved Annual Budget,
and (c) without duplication, Non-Discretionary Expenses, to the extent such expenses (i) reduce any corresponding reserve reasonably
agreed to by Administrative Agent in the Approved Annual Budget and are detailed in the Specified Compliance Certificate for such
period or (ii) are otherwise reasonably approved by Administrative Agent.

 

“Excess Cash
Flow Period” means any period commencing upon any Excess Cash Flow Trigger Date and terminating upon the occurrence
of an Excess Cash Flow Termination Date.

 

“Excess Cash
Flow Termination Date” means the date on which (a) Administrative Agent has determined that the Debt Yield (when
calculating the Debt Yield for this purpose the outstanding principal balance of the Loans will not be deemed reduced by any amounts
in a Debt Yield Fund or by the balance of any Specified Letter of Credit) has equaled or exceeded the Debt Yield ECF Threshold
required by Section 7.13(a) for two consecutive Test Dates, and (b) no Potential Default or Event of Default exists.

 

“Excess Cash
Flow Trigger Event” as of any date, the Debt Yield is less than the Debt Yield ECF Threshold.

 

“Exchange
Act” means the Securities Exchange Act of 1934, as amended and in effect from time to time.

 

“Excluded
Hedge Agreement Obligation” means, with respect to any Loan Party, any guarantee of any Swap Obligations under
a Secured Hedge Agreement if, and only to the extent that and for so long as, all or a portion of the guarantee of such Loan
Party of, or the grant by such Loan Party of a security interest to secure, such Swap Obligation under a Secured Hedge
Agreement (or any guarantee thereof) is or becomes illegal under the Commodity Exchange Act or any rule, regulation or order
of the Commodity Futures Trading Commission (or the application or official interpretation of any thereof) by virtue of such
Loan Party’s failure for any reason to constitute an “eligible contract participant” as defined in the
Commodity Exchange Act at the time the guarantee of such Loan Party or the grant of such security interest becomes effective
with respect to such Swap Obligation under a Secured Hedge Agreement; provided, however, that if any Loan Party
that was not an “eligible contract participant” at the time any such guarantee of a Swap Obligation under a
Secured Hedge Agreement was entered into thereafter becomes an “eligible contract participant,” such Loan Party
shall, by virtue of the guaranty or security agreement or joinder thereto and without any further action by any Person, be
deemed to have guaranteed the Swap Obligations under Secured Hedge Agreements and granted a security interest to secure such
Swap Obligations under Secured Hedge Agreements, and such Swap Obligations under Secured Hedge Agreements shall no longer
constitute Excluded Hedge Agreement Obligations with respect to such Loan Party. If a Swap Obligation under a Secured Hedge
Agreement arises under a master agreement governing more than one swap, such exclusion shall apply only to the portion of
such Swap Obligation under a Secured Hedge Agreement that is attributable to swaps for which such guarantee or security
interest is or becomes illegal.

 

AMENDED AND RESTATED LOAN
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“Excluded
Taxes” any of the following Taxes imposed on or with respect to a Recipient or required to be withheld or deducted
from a payment to a Recipient, (a) Taxes imposed on or measured by net income (however denominated), franchise Taxes, and
branch profits Taxes, in each case, (i) imposed as a result of such Recipient being organized under the laws of, doing business
in, or having its principal office or, in the case of any Lender, its applicable lending office located in, the jurisdiction imposing
such Tax (or any political subdivision thereof) or (ii) that are Other Connection Taxes, (b) in the case of a Lender,
U.S. federal withholding Taxes imposed on amounts payable to or for the account of such Lender pursuant to a law in effect on the
date on which (i) such Lender became a party hereto (other than pursuant to an assignment request by Borrowers under Section 2.14)
or (ii) such Lender changes its lending office, except in each case to the extent that, pursuant to Section 2.17,
amounts with respect to such Taxes were payable either to such Lender’s assignor immediately before such Lender became a
party hereto or to such Lender immediately before it changed its lending office, (c) Taxes attributable to such Recipient’s
failure to comply with Section 2.17 and (d) any U.S. federal withholding Taxes imposed under FATCA.

 

“FATCA”
means Sections 1471 through 1474 of the Code as of the date of this Agreement (or any amended or successor version that is substantively
comparable and not materially more onerous to comply with), any current or future regulations or official interpretations thereof
and any agreements entered into pursuant to Section 1471(b)(1) of the Code.

 

“Federal
Bankruptcy Code” means Chapter 11 of Title II of the United States Code (11 U.S.C. § 101,
et seq.), as amended.

 

“Federal
Flood Insurance” means, for any Improvements personal property Collateral located on any Project located in a Special
Flood Hazard Area, Federal Flood Insurance or private insurance satisfactory to Administrative Agent, in either case, that (a) meets
the requirements of FEMA and other applicable federal agencies, (b) includes a deductible not to exceed $50,000 unless otherwise
approved by Administrative Agent or permitted by applicable laws and (c) has a coverage amount equal to the maximum amount
of coverage available under the National Flood Insurance Program.

 

“Federal
Funds Rate” means, for any period, a fluctuating interest rate per annum equal for each day during such period to
the weighted average of the rates on overnight federal funds transactions with members of the Federal Reserve System arranged by
federal funds brokers, as determined by Administrative Agent in a commercially reasonable manner.

 

AMENDED AND RESTATED LOAN
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“FEMA”
means the Federal Emergency Management Agency, a component of the U.S. Department of Homeland Security that administers the National
Federal Flood Insurance Program.

 

“Financial
Institution” means a United States Financial Institution as defined in 31 U.S.C. 5312, as amended from time
to time.

 

“FIRREA”
has the meaning assigned in Schedule 2.1.

 

“Foreign
Lender” (a) if any Borrower is a U.S. Person, a Lender that is not a U.S. Person, and (b) if any Borrower
is not a U.S. Person, a Lender that is resident or organized under the laws of a jurisdiction other than that in which such Borrower
is resident for tax purposes.

 

“Funds”
means the Required Repair Fund and the Replacement Escrow Fund.

 

“GAAP”
means generally accepted accounting principles in the United States of America, as in effect from time to time, set forth in the
opinions and pronouncements of the Accounting Principles Board of the American Institute of Certified Public Accountants, in the
statements and pronouncements of the Financial Accounting Standards Board (or agencies with similar functions and comparable stature
and authority within the accounting profession) that are applicable to the circumstances as of the date of determination. Subject
to Section 1.3, all references to “GAAP” shall be to GAAP applied consistently with the principles used
in the preparation of the financial statements described in Section 5.1.

 

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

 

“Ground Lease”
means those certain ground leases identified on Schedule 1.1(a) attached hereto.

 

“Ground Lease
Estoppel Certificates” means any estoppel certificate delivered by a Ground Lessor to Administrative Agent in connection
with the Loan.

 

“Ground Lessor”
means, as applicable, the ground lessor under the Ground Lease.

 

“Guarantor”
means, individually and collectively, Sponsor, and each Person who from time to time is party to a Recourse Guaranty Agreement
or any Payment Guaranty, or otherwise guarantees the Obligations or any portion thereof.

 

AMENDED AND RESTATED LOAN
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“Hazardous
Materials” means (a) petroleum or chemical products, whether in liquid, solid, or gaseous form, or any
fraction or by-product thereof, (b) asbestos or asbestos-containing materials, (c) polychlorinated biphenyls
(pcbs), (d) radon gas, (e) underground storage tanks, (f) any explosive or radioactive substances,
(g) lead or lead-based paint, (h) any other substance, material, waste or mixture which is or shall be listed,
defined, or otherwise determined by any Governmental Authority to be hazardous, toxic, or otherwise regulated, controlled or
giving rise to liability, under any Environmental Laws, (i) any excessive moisture, mildews, mold or other fungi in
quantities and/or concentrations that could reasonably be expected to pose a risk to human health or the environment, or
(j) any elements, material, compounds, mixtures, chemicals, wastes, pollutants, contaminants or substances known to
cause cancer or reproductive toxicity, that, because of its quantity, concentration or physical or chemical characteristics,
exposure is limited or regulated by any Governmental Authority having jurisdiction over human health and safety, natural
resources or the environment, or which poses a significant present or potential hazard to human health and safety, or to the
environment, if released into the workplace or the environment.

 

“Healthcare
Investigations” means any inquiries, investigations, probes, audits or proceedings concerning the business affairs,
practices, licensing or reimbursement entitlements of the Projects, any Borrower, any Guarantor, any Triple Net Tenant or any Operator
(including, without limitation, inquiries, investigations, probes, audit or procedures concerning potential or actual violations
of Healthcare Laws).

 

“Healthcare
Laws” means all provisions, rules and regulations pursuant to or promulgated under the False Claims Act (31 U.S.C.
Section 3729 et seq.), the Anti-Kickback Act of 1986 (41 U.S.C. Section 51 et seq.), the Federal Health
Care Programs Anti-Kickback statute (42 U.S.C. Section 1320-7a(b)), the Ethics in Patient Referrals Act of 1989, as amended
(Stark Law) (42 U.S.C. 1395nn), the Civil Monetary Penalties Law (42 U.S.C. Section 1320a-7a), or the Truth in Negotiations
(10 U.S.C. Section 2304 et seq.), Health Care Fraud (18 U.S.C. 1347), Wire Fraud (18 U.S.C. 1343), Theft
or Embezzlement (18 U.S.C. 669), False Statements (18 U.S.C. 1001), False Statements (18 U.S.C. 1035), Patent Inducements
Statute, and equivalent state statutes and regulations, and any and all rules and regulations promulgated by Governmental Authorities,
including the Centers of Medicare and Medicaid Services (CMS), with respect to any of the foregoing.

 

“Hedge Agreement”
means, collectively, any and all swap agreements (as such term is defined in Section 101 of the Federal Bankruptcy Code),
interest rate cap agreements, interest rate collar agreements or other similar agreements designed to provide protection against
fluctuations in interest or currency exchange rates, now or hereafter entered into by or on behalf of the applicable Borrower Party
pursuant to Section 2.10 of this Agreement, as the same may be renewed, extended, amended or replaced from time to
time.

 

“IEEPA”
has the meaning assigned in Section 5.20(f).

 

“Improvements”
shall mean, individually and/or collectively (as the context requires), the “Improvements” as defined in each applicable
Mortgage.

 

“Indebtedness”
means all payment obligations of Borrowers or any other Borrower Party to Administrative Agent or to any Lender under the Loan
or any of the Loan Documents, including, without limitation, any and all interest, whether or not accruing after the filing of
any petition in bankruptcy or the commencement of any insolvency, reorganization or similar proceeding, and whether or not a claim
for post-filing or post-petition interest is allowed in any such proceeding.

 

AMENDED AND RESTATED LOAN
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“Individual
Project” shall mean each parcel of Land, medical office buildings and other improvements now or in the future located
on such particular parcel of Land and all related facilities, amenities, fixtures, and personal property owned by an applicable
Borrower and used in connection therewith.

 

“Indemnified
Matters” has the meaning assigned in Section 11.4(a).

 

“Indemnified
Taxes” (a) Taxes, other than Excluded Taxes, imposed on or with respect to any payment made by or on account
of any obligation of any Borrower Party under any Loan Document and (b) to the extent not otherwise described in (a), Other
Taxes.

 

“Indemnitee”
has the meaning assigned in Section 11.4(a).

 

“Independent
Manager” means a natural person who shall not have been at the time of such individual’s appointment as a manager,
may not have been at any time during the preceding five (5) years and shall not be at any time while serving as a manager of the
applicable Borrower (a) a shareholder, officer, director, member, partner, attorney, counsel or employee of such Borrower,
the member of such Borrower, or any of their respective Affiliates (other than as an “independent” director, member,
manager and/or partner); (b) a lessor of, customer of, or supplier to, such Borrower, the member of such Borrower, or any
of their respective Affiliates; (c) a Person Controlling, controlled by or under common control with, any such shareholder,
officer, director, member, partner, attorney, counsel, employee, customer or supplier; or (d) a member of the immediate family
of any such shareholder, officer, director, member, partner, employee, lessor, customer or supplier.

 

“Insurance
Impound” has the meaning assigned in Section 3.4.

 

“Insurance
Premiums” has the meaning assigned in Section 3.1(d).

 

“Internalization”
means a transaction or series of related transactions (including, without limitation, mergers, consolidations, stock or other ownership
interest purchases or modifications of agreements) whereby (a) the Advisor ceases or reduces the level of its services accompanied
by an elimination or a commensurate reduction of the amount of the fees payable to the Advisor under the Advisory Agreement, (b)
REIT or any of its wholly owned Subsidiaries employs persons previously employed by the Advisor and (c) REIT or any of its wholly
owned Subsidiaries subsequently is to perform all or some of the duties previously performed by Advisor.

 

“Land”
means, individually and collectively, as applicable, the real property described in Exhibits A-1 through A-33
attached hereto.

 

“Leases”
means (whether one or more) those certain lease agreements between Borrowers and Tenants, and covering the Projects, together with
all subleases and occupancy agreements affecting the Projects or any part thereof now existing or hereafter executed (including
without limitation, all service agreements which include an occupancy agreement) and all amendments, modifications or supplements
thereto. For the avoidance of doubt, the term “Leases” excludes the Ground Leases.

 

AMENDED AND RESTATED LOAN
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“Lease Subordination
Agreement” means (whether one or more) those certain Lease Subordination, Non-Disturbance and Attornment Agreements
dated of even date herewith, executed by Tenants, Borrowers and Administrative Agent (on behalf of itself and Lenders).

 

“Leasing
Commissions” means actual leasing commissions due and owing from any Borrower to a third Person with respect to any
Leases at the Projects.

 

“Lender(s)”
has the meaning assigned in the preamble to this Agreement. In addition to the foregoing, solely for the purpose of identifying
the Persons entitled to share in payments and collections from the Collateral and the benefit of any guarantees of the Obligations
as more fully set forth in this Agreement and the other Loan Documents, the term “Lender” shall include Secured
Hedge Providers. For the avoidance of doubt, any Person to whom any Obligations in respect of a Secured Hedge Agreement are owed
and which does not hold any portion of the Loans or commitments hereunder shall not be entitled to any other rights as a “Lender”
under this Agreement or the other Loan Documents and the Environmental Indemnity.

 

“Liabilities”
means all claims, actions, suits, judgments, damages, losses, liability, obligations, responsibilities, fines, penalties, sanctions,
costs, fees, taxes, commissions, charges, disbursements and expenses, in each case of any kind or nature (including interest accrued
thereon or as a result thereof and fees, charges and disbursements of financial, legal and other advisors and consultants), whether
joint or several, whether or not indirect, contingent, actual, punitive, treble or otherwise, but in no event any of the foregoing
that are consequential except to the extent arising from a third party claim.

 

“Libor Breakage
Amount” means the actual out of pocket amount of any losses, expenses and liabilities that such Lender or any of
its Affiliates may sustain as a result of any payment of the Loan (or any portion thereof) on any day that is not the last day
of the Libor Interest Period applicable thereto (regardless of the source of such prepayment and whether voluntary, by acceleration
or otherwise).

 

“Libor Interest
Period” means (a) the period commencing on the Closing Date through December 31, 2019 (payable in arrears January
1, 2020) and (b) thereafter each period commencing on the first day of a calendar month and ending on the last day of such
calendar month; provided, any Libor Interest Period that would otherwise extend beyond the Maturity Date of the Loan shall
end on the Maturity Date.

 

“Libor Rate”
means the greater of (a) zero percent (0%) per annum, or (b) for each Libor Interest Period, the offered rate for deposits
in Dollars for the applicable Libor Interest Period appearing on the Reuters Screen LIBOR01 page as of 11:00 a.m. (London
time) two (2) Business Days prior to the next preceding first day of each Libor Interest Period. In the event that such rate does
not appear on the Reuters Screen LIBOR01 page at such time, the “Libor Rate” shall be determined by reference
to such other comparable publicly available service for displaying the offered rate for deposit in Dollars in the London interbank
market as may be selected by Administrative Agent and, in the absence of availability, such other method to determine such offered
rate as may be selected by Administrative Agent in its sole discretion.

 

AMENDED AND RESTATED LOAN
AGREEMENT – PAGE 18

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“Lien”
means any interest, or claim thereof, in the Projects securing an obligation owed to, or a claim by, any Person other than the
owner of the Projects, whether such interest is based on common law, statute or contract, including the lien or security interest
arising from a deed of trust, mortgage, assignment, encumbrance, pledge, security agreement, conditional sale or trust receipt
or a lease, consignment or bailment for security purposes. The term “Lien” shall include reservations, exceptions,
encroachments, easements, rights of way, covenants, conditions, restrictions, recorded, capital or financing leases and other title
exceptions and encumbrances affecting the Projects.

 

“Loan”
or “Loans” has the meaning set forth in Section 2.1 of this Agreement.

 

“Loan Commitment”
means with respect to each Lender, the commitment of such Lender to make its Pro Rata Share of the Loan to Borrowers. The aggregate
amount of the Loan Commitment is $378,500,000.00. The commitments of each Lender as of the Closing Date are as set forth on Exhibit
E.

 

“Loan Documents”
means, collectively, this Agreement, the Notes, the Mortgages, UCC financing statements, any Recourse Guaranty Agreement, any Payment
Guaranty, Assignment of Ownership Interests, the Assignment of Hedge Agreement, any letter of credit provided to Administrative
Agent (for itself and on behalf of Lenders) in connection with the Loan, the Acknowledgment of Property Manager, the Secured Hedge
Agreement, if any, all other documents evidencing or securing the Loan, and all amendments, modifications, renewals, substitutions
and replacements of any of the foregoing; provided however, in no event shall the term “Loan Documents” include the
Environmental Indemnity Agreement.

 

“Loan Party”
means each of Sponsor, ARHC Plaza Del Rio Medical Office Campus Member 1, LLC, ARHC Plaza Del Rio Medical Office Campus Member
2, LLC, and each Borrower.

 

“Loan Year”
means (a) for the first Loan Year, the period commencing on the Closing Date and ending on the last day of the month in which
the first anniversary of the Closing Date occurs (unless the Closing Date is on the first day of a month, in which case the first
Loan Year shall commence on such Closing Date and end on the date twelve (12) months after from the last day of the month immediately
preceding the Closing Date) and (b) each consecutive twelve calendar month period, thereafter, until the Maturity Date.

 

“Management
Agreement” means individually and collectively those management Agreements set forth on Schedule 1.1(b).

 

“Material
Action” means to file any insolvency, or reorganization case or proceeding, to institute proceedings to have
any Borrower or any other Borrower Party be adjudicated bankrupt or insolvent, to institute proceedings under any applicable
insolvency law, to seek any relief under any law relating to relief from debts or the protection of debtors, to consent to
the filing or institution of bankruptcy or insolvency proceedings against any Borrower Party, to file a petition seeking, or
consent to, reorganization or relief with respect to any Borrower Party under any applicable federal or state law relating to
bankruptcy or insolvency, to seek or consent to the appointment of a receiver, liquidator, assignee, trustee, sequestrator,
custodian, or any similar official of or for any Borrower Party or a substantial part of its respective property, to make any
assignment for the benefit of creditors of any Borrower Party, the admission in writing by any Borrower Party of such
Person’s inability to pay its debts generally as they become due, or to take action in furtherance of any of the
foregoing.

 

AMENDED AND RESTATED LOAN
AGREEMENT – PAGE 19

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“Material
Adverse Change” or “material adverse change” means, in Administrative Agent’s reasonable
discretion, that the business, operations or financial condition of a Person or property has changed in a manner which could reasonably
be expected to materially impair the value of the Collateral taken as a whole, prevent timely repayment of the Loan or otherwise
prevent the applicable Person from timely performing any of its material obligations under the Loan Documents or Environmental
Indemnity Agreement.

 

“Material
Adverse Effect” or “material adverse effect” means, in Administrative Agent’s reasonable
discretion, a material adverse effect on (i) the condition (financial or otherwise), operations, business, assets, liabilities
or prospects of Borrowers taken as a whole, or any other Borrower Party, (ii) the ability of Borrowers taken as a whole, or
any other Borrower Party, to perform any material obligation required of them under the Loan Documents, (iii) the rights and
remedies of Administrative Agent and Lenders under the Loan Documents, or (iv) the operations of all or a material portion
of the Projects.

 

“Maturity
Date” means, as applicable, the earlier of (a) December 20, 2026 and (b) the date on which the entire Loan
is required to be paid in full, by acceleration or otherwise, under and pursuant to this Agreement or any of the other Loan Documents.

 

“MNPI”
has the meaning assigned in Section 11.23(a).

 

“Mortgage”
means, collectively (whether one or more), as applicable, the Mortgage(s), Assignment of Leases and Rents, Security Agreement and
Fixture Filing, the Deed(s) of Trust, Assignment of Leases and Rents, Security Agreement and Fixture Filing, or the Deed(s) to
Secure Debt, Assignment of Leases and Rents, Security Agreement and Fixture Filing, each executed by the applicable Borrower in
favor of Administrative Agent (for itself and on behalf of Lenders), covering the applicable Borrower’s Individual Project,
as amended, restated, supplemented, or otherwise modified from time to time.

 

“National
Federal Flood Insurance Program” means the program created by the U.S. Congress pursuant to the National Federal
Flood Insurance Act of 1968 and the Flood Disaster Protection Act of 1973, as revised by the National Federal Flood Insurance Reform
Act of 1994, and as the same may be further amended, modified or supplemented, and including the regulations issued thereunder,
that, among other things, mandates the purchase of Federal Flood Insurance to cover real property improvements and contents located
in Special Flood Hazard Areas in participating communities and may provide protection to property owners through a federal insurance
program.

 

“Non-Consenting
Lender” has the meaning assigned in Section 11.2(g).

 

AMENDED AND RESTATED LOAN
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“Non-Discretionary
Expenses” means, collectively, without duplication, (i) all payments required to be made under this
Agreement or any other Loan Document, including, without limitation, in respect of interest, principal, servicing fees, real
estate tax and insurance escrows, (ii) Emergency Expenditures, (iii) expenditures required by laws and (iv)
expenditures required to pay real estate taxes and other governmental impositions, utilities, or insurance premiums.

 

“Note”
and “Notes” means, collectively, each promissory note (together with all renewals, modifications and
extensions thereof and any replacement or additional notes) executed by Borrowers in favor of a Lender pursuant to the terms hereof.

 

“Obligations”
means the Indebtedness and any and all existing and future debts, liabilities and obligations of every kind or nature at any time
owing by any Borrower and any other Borrower Party to Administrative Agent and Lenders, under this Agreement or any other Loan
Document, whether joint or several, related or unrelated, primary or secondary, matured or contingent, due or to become due (including
debts, liabilities and obligations obtained by assignment), and whether principal, interest, fees, indemnification obligations
hereunder or expenses (specifically including interest accruing after the commencement of any bankruptcy, insolvency or similar
proceeding with respect to any Borrower or any other Borrower Party, whether or not a claim for such post-commencement interest
is allowed), including, without limitation, any obligations under any Secured Hedge Agreements, any extensions, modifications,
substitutions, increases and renewals of the Loan (provided that the Obligations of any Loan Party shall not include Excluded Hedge
Agreement Obligations of such Loan Party); the payment of all amounts advanced by Administrative Agent, any Lender or any Affiliate
of a Lender to preserve, protect and enforce rights hereunder and in the Collateral; and all expenses incurred by Administrative
Agent, any Lender or any Affiliate of a Lender. Without limiting the generality of the foregoing, Obligations shall include any
other debts, liabilities or obligations owing to a Secured Hedge Provider in connection with any Secured Hedge Agreements; provided,
however, that any obligations with respect to Secured Hedge Agreements that are owing to a Lender or an Affiliate of a Lender
other than Administrative Agent or its Affiliates shall only constitute “Obligations” hereunder if the applicable Secured
Hedge Agreement was entered into on or after the Closing Date and the applicable Lender or Affiliate of a Lender gave written notice
to Administrative Agent of the same within ten (10) days thereafter.

 

“OFAC”
means the Office of Foreign Assets Control, Department of the Treasury.

 

“Operator”,
individually, and “Operators”, collectively, means the applicable Property Manager, in each case under
any Operators’ Agreement, reasonably approved by Administrative Agent and any successor to such Operator reasonably approved
by Administrative Agent.

 

“Operators’
Agreements” means, collectively, any Management Agreement.

 

“Original
Borrowers” has the meaning set forth in the recitals.

 

“Original
Closing Date” means June 30, 2017.

 

“Original
Loan Agreement” has the meaning set forth in the recitals.

 

AMENDED AND RESTATED LOAN
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“Original
Term Loan” has the meaning set forth in Section 2.1 of this Agreement.

 

“Original
Term Loan Amount” means $250,000,000.

 

“Other Connection
Taxes” means with respect to any Recipient, Taxes imposed as a result of a present or former connection between such
Recipient and the jurisdiction imposing such Tax (other than connections arising from such Recipient having executed, delivered,
become a party to, performed its obligations under, received payments under, received or perfected a security interest under, engaged
in any other transaction pursuant to or enforced any Loan Document, or sold or assigned an interest in any Loan or Loan Document).

 

“Other Taxes”
means all present or future stamp, court or documentary, intangible, recording, filing or similar Taxes that arise from any payment
made under, from the execution, delivery, performance, enforcement or registration of, from the receipt or perfection of a security
interest under, or otherwise with respect to, any Loan Document, except any such Taxes that are Other Connection Taxes imposed
with respect to an assignment of any interest in any Loan or Loan Document.

 

“Overpaying
Borrower” has the meaning assigned in Section 11.19(i).

 

“Overpayment
Amount” has the meaning assigned in Section 11.19(i).

 

“Partial
Release” has the meaning assigned in Section 2.18(a).

 

“Partial
Release Price” has the meaning assigned in Section 2.18(a)(ix).

 

“Partial
Release Project” has the meaning assigned in Section 2.18(a).

 

“Participant”
has the meaning assigned in Section 11.3(e).

 

“Participant
Register” has the meaning assigned in Section 11.3(e).

 

“Patriot
Act” means the USA Patriot Act of 2001, Pub. L. No. 107-56.

 

“Payment
Date” has the meaning assigned in Section 2.3(a) and is the date that a regularly scheduled payment of
interest or principal and interest (following a Debt Yield Failure) is due.

 

“Payment
Guaranty” means a Limited Guaranty of Payment and Performance executed by Guarantor in favor of Administrative Agent
and the Lenders in form and substance reasonably acceptable to Administrative Agent guarantying the payments required to be made
to the Replacement Escrow Fund and related enforcements costs and including minimum liquidity covenants with respect to Guarantor
reasonably acceptable to Administrative Agent.

 

“Permit”
means, with respect to any Person, any permit, approval, authorization, license, registration, certificate (including
certificates of occupancy), concession, grant, franchise, variance or permission from, and any other contractual obligations
with, any Governmental Authority, in each case whether or not having the force of law and applicable to or binding upon such
Person or any of its property or to which such Person or any of its property is subject.

 

AMENDED AND RESTATED LOAN
AGREEMENT – PAGE 22

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“Permitted
Encumbrances” has the meaning assigned in Section 7.1(a).

 

“Permitted
Exceptions” means, with respect to each Project, collectively (a) the Liens and security interests created by
the Loan Documents, (b) all Liens, encumbrances and other matters disclosed in the Title Policy, (c) Liens, if any, for
Taxes imposed by any Governmental Authority not yet delinquent or which are being contested in good faith, and for which adequate
reserves are being maintained in accordance with an Acceptable Accounting Method, (d) statutory Liens for labor or materials
that (i) secure sums not yet delinquent, (ii) secure sums not in excess of $250,000.00 in the aggregate, (iii) are
bonded over or discharged to Administrative Agent’s reasonable satisfaction within thirty (30) days, and (iv) are being
contested in good faith in accordance with the terms and conditions of this Agreement, (e) the rights of customers, licensees,
invitees, guests and other occupants at each Project to occupy the Project in the ordinary course, (f) rights of (i) tenants,
as tenants only, under the terms of Leases either reasonably approved or deemed approved by Administrative Agent (if such approval
is required under the Loan Documents) or for which Administrative Agent’s approval is not required hereunder, and (ii) the
Property Manager under the Management Agreements, solely to the extent provided therein or in any amendment thereto reasonably
approved or deemed approved by Administrative Agent (to the extent such approval is required by the terms hereof), (g) other
encumbrances and restrictions not materially affecting the use or enjoyment of the Projects and not to exceed $250,000, and (h) any
other encumbrances, liens or other matters approved by Administrative Agent or Required Lenders in their reasonable discretion.

 

“Permitted
Transfer” means any of the following Transfers, and such other Transfers as otherwise approved in advance in writing
by Lenders in their sole and absolute discretion acting reasonably:

 

(a)              
the Transfer, in one or a series of transactions including by way of merger, through which REIT is merged with or into any
Person so long as the survivor of any such Transfer is REIT and there is no Change of Control;

 

(b)              
the listing, offer, sale, transfer or issuance of shares of stock in (x) REIT or (y) in any other Restricted Party that,
in each instance, is a publicly traded entity on a national exchange;

 

(c)              
the Transfer, in one or a series of transactions, of the stock, partnership interests or membership interests (as the case
may be) by REIT or any direct or indirect legal or beneficial owner of REIT for estate planning purposes to the transferor’s
spouse, child, parent, grandparent, grandchild, niece, nephew, aunt, uncle or other immediate family members of such transferor,
or to a trust for the benefit of such spouse, child, parent, grandparent, grandchild, niece, nephew, aunt, uncle or other immediate
family members; and

 

(d)              
an Internalization that does not result in a Change of Control.

 

AMENDED AND RESTATED LOAN
AGREEMENT – PAGE 23

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“Person”
means any individual, corporation, partnership, joint venture, association, joint stock company, trust, trustee, estate, limited
liability company, unincorporated organization, real estate investment trust, government or any agency or political subdivision
thereof: or any other form of entity.

 

“Pledging
Lender” has the meaning assigned in Section 11.35.

 

“Post-Closing
Obligations” means the post-closing requirements described on Schedule 11.36.

 

“Potential
Default” means the occurrence of any event or condition which, with the giving of notice, the passage of time, or
both, would constitute an Event of Default.

 

“Potential
Non-Monetary Default” means any Potential Default, excluding those that can be cured or performed with the payment
of money.

 

“Pre-Approved
Manager” means those certain property managers identified on Schedule 1.1(c) attached hereto.

 

“Prepayment
Premium” means with respect to any prepayment occurring, (i) during the first Loan Year, an amount equal to
three percent (3%) of the principal amount of the Loan being prepaid, (ii) during the second Loan Year, an amount equal to
two percent (2%) of the principal amount of the Loan being prepaid (iii) during the third Loan Year, an amount equal to one percent
(1%) of the principal amount of the Loan being prepaid and (iv) following the end of the third Loan Year and thereafter, zero
(0).

 

“Prohibited
Transfer” has the meaning assigned in Section 7.1(a).

 

“Projects”
means, collectively, the Land and medical office buildings located on the Land, and all related facilities, amenities, fixtures,
and personal property owned by Borrowers and any other improvements now or hereafter located on the Land.

 

“Property
Condition Report” has the meaning assigned in Schedule 2.1.

 

“Property
Manager” means the Pre-Approved Managers and any other property manager reasonably approved or Deemed Approved by
Administrative Agent (to the extent such approval is required pursuant to the terms of this Agreement).

 

“Pro Rata
Outstandings” means, with respect to any Lender at any time, the outstanding principal amount of the Loan owing to
such Lender at such time.

 

“Pro
Rata Share” means, with respect to any Lender at any time the percentage obtained by dividing (i) the Loan
Commitment of such Lender then in effect by (ii) the sum of the Loan Commitments and (b) after the making of the
Loan, the percentage obtained by dividing (i) the Pro Rata Outstandings of such Lender by (ii) the total
outstanding principal amount of the Loan; provided, however, that, if there are no Loan Commitments and no Pro
Rata Outstandings, such Lender’s Pro Rata Share shall be determined based on the Pro Rata Share most recently in
effect, after giving effect to any subsequent assignment and any subsequent non-pro rata payments of any Lender pursuant to
the terms of this Agreement.

 

AMENDED AND RESTATED LOAN
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“Prorated
Interest” has the meaning assigned in Section 2.4(b).

 

“Protective
Advances” has the meaning assigned in Section 9.2(b).

 

“Qualified
ECP Guarantor” means, in respect of any Swap Obligation under a Secured Hedge Agreement, each guarantor that has
total assets exceeding $10,000,000 at the time the relevant guarantee or grant of the relevant security interest becomes effective
with respect to such Swap Obligation under a Secured Hedge Agreement or such other person as constitutes an “eligible contract
participant” under the Commodity Exchange Act and can cause another person to qualify as an “eligible contract participant”
at such time by entering into a keepwell under Section 1a(18)(A)(v)(II) of the Commodity Exchange Act.

 

“Qualifying
Leases” means fully executed and delivered Leases which are not in default and are entered into with entities unaffiliated
with any Borrower Party for which either (a) the Tenant under any such Lease has commenced rental payments and such Lease
has a remaining term of three months or more from the applicable Test Date, or (b) the Tenant under any such Lease is obligated
to commence rental payments within one year (or such Leases with more than twelve (12) months of free rent so long as Borrowers
reserve such amounts in excess of twelve (12) months in a manner reasonably acceptable to Administrative Agent) from the applicable
Test Date and such Lease has an initial term of three years or more.

 

“Recipient”
has the meaning assigned in Section 11.37.

 

“Recognition
Agreement” means individually and collectively those certain Estoppel and Agreements identified on Schedule
1.1(d) attached hereto.

 

“Recourse
Guaranty Agreement” means that certain Guaranty of Recourse Obligations executed by Sponsor, as amended, restated,
supplemented, or otherwise modified from time to time.

 

“Register”
has the meaning assigned in Section 2.12(b).

 

“REIT”
means Healthcare Trust, Inc., a Maryland corporation.

 

“Related
Persons” means, with respect to any Person, each of such Person’s Affiliates, officers, directors, employees,
agents, trustees, representatives, attorneys, accountants, and each insurance, environmental, legal, financial and other advisor
and other consultants and agents of or to such Person or any of its Affiliates, together with, if such Person is Administrative
Agent, each other Person or individual designated, nominated or otherwise mandated by or helping Administrative Agent pursuant
to and in accordance with Section 10.4 or any comparable provision of any Loan Document or the Environmental Indemnity
Agreement.

 

“Release
Notice” has the meaning assigned in Section 2.18(a)(v).

 

AMENDED AND RESTATED LOAN
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“Replacement
Escrow Fund” has the meaning assigned in Section 2.5(b)(ii).

 

“Replacement
Project” has the meaning assigned in Section 2.18(c).

 

“Reports”
has the meaning assigned in Section 11.37.

 

“Required
Lenders” means, at any time, both Agent and Lenders whose combined Pro Rata Shares at such time are in excess of
fifty percent (50%) in the aggregate; provided, however, that: (i) the Loan Commitment of, and the portion of
the Obligations held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Required
Lenders; and (ii) Required Lenders must at all times include three (3) Lenders that are not Affiliates, unless at any time
there is only one (1) Lender or all Lenders are Affiliates.

 

“Required
Repairs” has the meaning assigned in Section 2.5(b)(i).

 

“Required
Repair Fund” has the meaning assigned in Section 2.5(b)(i).

 

“Requirements
of Law” means, with respect to any Person or Project, collectively, the common law and all federal, state, local,
foreign, multinational or international laws, statutes, codes, treaties, standards, rules and regulations, guidelines, ordinances,
orders, judgments, writs, injunctions, decrees (including administrative or judicial precedents or authorities) and the interpretation
or administration thereof by, and other determinations, directives, requirements or requests of, any Governmental Authority, in
each case whether or not having the force of law and that are applicable to or binding upon such Person or Project or any of its
other property or to which such Person or any of its property is subject, as the same may be amended from time to time.

 

“Resize Amount”
means an amount, as calculated by Administrative Agent upon the occurrence of any Resize Event, that, if applied to the outstanding
principal balance of the Loan as of the most recent Test Date, would have resulted in a Debt Yield equal to the Debt Yield Covenant
Threshold required by Section 7.13(a) for such Test Date.

 

“Resize Event”
means that for two consecutive Test Dates, the Debt Yield for such Test Date is less than the Debt Yield Covenant Threshold required
by Section 7.13(a) for such Test Date.

 

“Resize Event
Termination Date” means the date on which Administrative Agent has determined that the Debt Yield (when calculating
the Debt Yield for this purpose the outstanding principal balance of the Loans will not be deemed reduced by any amounts in a Debt
Yield Fund or by the balance of any Specified Letter of Credit) has exceeded the Debt Yield Covenant Threshold required by Section 7.13(a)
for two consecutive Test Dates, provided that no Potential Default or Event of Default exists.

 

“Resize Funded
Amount” has the meaning set forth in Section 7.13(b)(i).

 

“Resize LC”
has the meaning set forth in Section 7.13(b)(i).

 

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“Resize Period”
means the period commencing upon the occurrence of a Resize Event and terminating upon (a) the occurrence of a Resize Event Termination
Date or (b) Borrower prepayment of the Loan in the amount equal to the applicable Resize Amount.

 

“Restoration
Threshold” means, as of any date, an amount equal to one percent (1%) of the aggregate amount of the Loan outstanding
on the Closing Date.

 

“Restricted
Party” means each (i) Borrower, (ii) any Affiliated Manager, (iii) each Guarantor and (iv) each
of ARHC Plaza Del Rio Medical Office Campus Member 1, LLC, ARHC Plaza Del Rio Medical Office Campus Member 2, LLC.

 

“Secured
Hedge Agreement” means (whether one or more) any Hedge Agreement (excluding interest rate cap agreements) between
any one or more of the Borrower Representative or a Borrower Party (or an Affiliate of any such Borrower) and a Secured Hedge Provider.

 

“Secured
Hedge Provider” means a Lender or an Affiliate of a Lender (or a Person who was a Lender or an Affiliate of a Lender
at the time any of execution and delivery of a Hedge Agreement) who has entered into a Hedge Agreement with any Borrower Party
with respect to the Loan.

 

“Secured
Parties” means Lenders and Administrative Agent and each such Person’s Related Persons.

 

“Security”
means all of the real and personal property securing the Obligations described in the Loan Documents and the Secured Hedge Agreement.

 

“Security
Deposits” means any and all security deposits and entrance fees from any tenant or occupant of the Projects collected
or held by Borrowers or Property Manager.

 

“Single Purpose
Entity” means a Person (other than an individual, a government or any agency or political subdivision thereof), which
exists solely for the purpose of owning and leasing the Projects, observes corporate, company or partnership formalities, as applicable,
independent of any other entity, and which otherwise complies with the covenants set forth in Section 5.18 hereof.

 

“Site Assessment”
means an environmental engineering report for each Project (including without limitation, any phase II engineering report) prepared
at Borrowers’ expense by an engineer engaged by Borrowers, or by Administrative Agent on behalf of Borrowers, and reasonably
approved by Administrative Agent, based upon an investigation relating to and making appropriate inquiries concerning the existence
of Hazardous Materials on or about each Project, and the past or present discharge, disposal, release or escape of any such substances,
all consistent with ASTM Standard E1527-05 (or any successor thereto published by ASTM) and good customary and commercial practice.

 

“Special
Flood Hazard Area” means an area that FEMA has designated as an area subject to special flood hazards, the
current standard for which is at least a one percent (1%) chance of a flood equal to or exceeding the base flood elevation (a
100-year flood) in any given year as per the applicable flood maps.

 

AMENDED AND RESTATED LOAN
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“Specified
Compliance Certificate” means a compliance certificate in form and substance satisfactory to Administrative Agent.

 

“Specified
Letter of Credit” means a letter of credit in form and substance satisfactory to Administrative Agent, issued to
Administrative Agent, as beneficiary, for the account of a Borrower, as customer, issued by a depository institution acceptable
to Administrative Agent in its reasonable discretion or the Approved L/C Provider, that includes an “evergreen” provision
providing for automatic renewal to the extent available, and that permits one or more drawings at any time by Administrative Agent.

 

“Specially
Designated National and Blocked Persons” mean those Persons that have been designated by executive order or by the
sanction regulations of OFAC as Persons with whom U.S. Persons may not transact business or must limit their interactions to types
approved by OFAC.

 

“Sponsor”
means Healthcare Trust Operating Partnership, L.P., a Delaware limited partnership.

 

“SPV”
means any special purpose funding vehicle identified as such in a writing by any Lender to Administrative Agent.

 

“State Regulator”
has the meaning assigned in Section 7.12.

 

“Subaccount”
means a subaccount, which may be ledger or book entry account and not an actual account.

 

“Survey”
has the meaning assigned in Schedule 2.1.

 

“Swap Obligation”
means, with respect to any Loan Party, any obligation to pay or perform under any agreement, contract or transaction that constitutes
a “swap” within the meaning of Section 1a(47) of the Commodity Exchange Act.

 

“Tax Impound”
has the meaning assigned in Section 3.5.

 

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

 

“Tenant Estoppel
Certificates” means any estoppel certificate from a Tenant delivered to Administrative Agent in connection with the
Loan.

 

“Tenants”
means the parties listed on Exhibit D attached hereto and any successor or other tenant of any
Project approved by Administrative Agent in accordance with the terms of this Agreement to the extent such approval is
require hereunder or as otherwise permitted under this Agreement.

 

AMENDED AND RESTATED LOAN
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“Term Sheet”
means that certain Term Sheet dated October 2019 between Sponsor and CONA.

 

“Test Date”
means the last day of each calendar quarter commencing with the calendar quarter ending March 31, 2020.

 

“Test Period”
means, as of any date, a period of twelve (12) consecutive calendar months then ended (taken as one accounting period), or such
other period as specified in this Agreement.

 

“Title Policy”
has the meaning assigned in Schedule 2.1.

 

“Transfer”
means any direct or indirect sale, transfer, conveyance, mortgage, grant of lien or other interest, bargain, installment sale,
master lease, encumbrance, pledge, assignment, grant of any options with respect to, or any other transfer or disposition of (directly
or indirectly, voluntarily or involuntarily, by operation of law or otherwise, and whether or not for consideration or of record)
of all or any portion of the direct or indirect legal or beneficial ownership of, or any interest in, (a) the Projects or
any part thereof or (b) any Restricted Party including any agreement to transfer or cede to another Person any voting management
or approved rights, or any other rights, appurtenant to such legal or beneficial ownership or other interest.

 

“Transferee”
has the meaning assigned in Section 7.1(c).

 

“Triple Net
Project” has the meaning assigned in Section 2.5(b).

 

“Triple Net
Lease” any Lease with respect to a Triple Net Project.

 

“Triple Net
Tenant” means a Tenant under any Triple Net Lease.

 

“TWEA”
has the meaning assigned in Section 5.20(f).

 

“UCC”
means the Uniform Commercial Code as from time to time in effect in the State of New York; provided, however, that,
in the event that, by reason of mandatory provisions of any applicable Requirement of Law, any of the attachment, perfection or
priority of Administrative Agent’s or any other Lender’s security interest in any Collateral is governed by the Uniform
Commercial Code of a jurisdiction other than the State of New York, “UCC” shall mean the Uniform Commercial Code as
in effect in such other jurisdiction for purposes of the provisions hereof relating to such attachment, perfection or priority
and for purposes of the definitions related to or otherwise used in such provisions.

 

“U.S. Person”
means any United States citizen, any entity organized under the laws of the United States or its constituent states or territories,
or any entity, regardless of where organized, having its principal place of business within the United States or any of its territories.

 

AMENDED AND RESTATED LOAN
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“U.S. Tax
Compliance Certificate” has the meaning assigned in Section 2.17(g)(ii)(B)(3).

 

“Write-Down
and Conversion Powers” means, with respect to any EEA Resolution Authority, the write-down and conversion powers
of such EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down
and conversion powers are described in the EU Bail-In Legislation Schedule.

 

“Zoning Report”
has the meaning assigned in Schedule 2.1.

 

Section 1.2          
DefinitionsSection 1.3. All terms defined in Section 1.1 above or otherwise in this Agreement shall,
unless otherwise defined therein, have the same meanings when used in any other Loan Document or Environmental Indemnity Agreement,
or any certificate or other document made or delivered pursuant hereto. The words “hereof”, “herein”, and
“hereunder” and words of similar import when used in this Agreement shall refer to this Agreement as a whole. The words
“include” and “include(s)” when used in this Agreement and the other Loan Documents or Environmental Indemnity
Agreement means “include(s), without limitation,” and the word “including” means “including, but
not limited to.”

 

Section 1.3          
PhrasesSection 1.4. When used in this Agreement and the other Loan Documents or Environmental Indemnity Agreement,
the phrase “including” shall mean “including, but not limited to,” the phrases “satisfactory to Administrative
Agent,” “satisfactory to Lenders” and “satisfactory to Required Lenders” shall mean “in form
and substance satisfactory to the applicable Person in all respects”, the phrases “with Administrative Agent’s
consent”, “with Lenders’ consent” and “with the Required Lenders’ consent” or “with
Administrative Agent’s approval”, “with Lenders’ approval” and “with the Required Lenders’
approval” shall mean such consent or approval at such Person’s sole discretion, and the phrases “acceptable to
Administrative Agent,” “acceptable to Lenders” and “acceptable to the Required Lenders” shall mean
“acceptable to such Person at such Person’s sole discretion” unless otherwise specified in this Agreement.

 

ARTICLE
2

LOAN TERMS

 

Section
2.1           The
Loan. Pursuant to the Original Loan Agreement, each lender party thereto extended on the Original Closing Date its
pro rata share of the original term loan (the “Original Term Loan”) to Original Borrowers in the
original aggregate principal amount equal to the Original Term Loan Amount. Borrowers acknowledge and agree that as of
the date hereof $241,986,909.20 of the principal amount of the Original Term Loan remains outstanding and shall be refinanced
hereunder, without constituting a novation. Upon satisfaction of all the terms and conditions set forth in the Term Sheet and Schedule 2.1 attached
hereto, each Lender, severally, but not jointly, agrees to make on the Closing Date its Pro Rata Share of the term loan (the
“Loan”) to Borrowers in the original aggregate principal amount equal to the Loan Amount, which
Loan shall mature on the Maturity Date. Lenders have advanced the entire Loan to Borrowers on the date hereof.
Borrowers acknowledge receipt of the Loan, the proceeds of which are being and shall be used to (i) refinance the
Original Term Loan, and (ii) pay transaction costs. Any excess proceeds, if any, may be used for any lawful purpose.
Each Borrower hereby (x) represents, warrants, agrees, covenants and reaffirms that it has no defense (other than the
defense of payment and/or performance), set off, claim or counterclaim against the Administrative Agent, the lenders party to
the Original Loan Agreement or the Lenders party hereto with regard to their Obligations in respect of the Original Term Loan
arising prior to the Original Closing Date and (y) reaffirms its obligation to repay the Loan in accordance with the
terms and provisions of this Agreement and the other Loan Documents. Borrowers hereby agree to accept the Loan on the Closing
Date, subject to and upon the terms and conditions set forth herein. The aggregate amount of all advances of the Loan on a
cumulative basis shall not exceed the total Loan Commitments. The Loan is not a revolving credit loan, and Borrowers are not
entitled to any readvances of any portion of the Loan which they may (or are otherwise required to) prepay pursuant to the
provisions of this Agreement.

 

AMENDED AND RESTATED LOAN
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Section 2.2          
Interest Rate; Late Charge. The outstanding principal balance of the Loan shall bear interest at a floating rate
of interest equal to the Libor Rate plus two percent (2%) per annum (the “Applicable Margin”),
as the same may be modified as expressly provided in Section 2.9(c) (the “Contract Rate”). If Borrowers
fail to pay any installment of interest or principal within five (5) days after the date on which the same is due excluding the
final installment due on the Maturity Date, Borrowers shall pay to Administrative Agent, for the account of Lenders (other than
any Defaulting Lender but subject to Section 2.19(c)), a late charge on such past due amount, as liquidated damages
and not as a penalty, equal to five percent (5%) of such amount, but not in excess of the maximum amount of interest allowed by
applicable law. Administrative Agent shall pay to each Lender (other than any Defaulting Lender but subject to Section 2.19(c))
its portion of the late charge based on each Lender’s Pro Rata Share of the Loan in accordance with Section 2.6.
The foregoing late charge is intended to compensate each Lender for the expenses incident to handling any such delinquent payment
and for the losses incurred by each Lender as a result of such delinquent payment. Borrowers agree that, considering all of the
circumstances existing on the date this Agreement is executed, the late charge represents a reasonable estimate of the costs and
losses each Lender will incur by reason of late payment. Borrowers and each Lender further agree that proof of actual losses would
be costly, inconvenient, impracticable and extremely difficult to fix. Acceptance of the late charge shall not constitute a waiver
of the Event of Default arising from the overdue installment and shall not prevent any Lender from exercising any other rights
or remedies available to such Lender with respect to such Event of Default. While any Event of Default exists, the Loan shall bear
interest at the Default Rate.

 

Section 2.3          
Terms of Payment.

 

(a)              
Interest and Principal. Commencing on January 1, 2020, and continuing on the first day of each calendar month
thereafter until the earlier of the Maturity Date or the full repayment of the Indebtedness (each a “Payment Date”),
Borrowers shall pay to Administrative Agent for the account of Lenders (other than Defaulting Lenders but subject to Section 2.19(c)),
interest only in arrears computed at the Contract Rate on the outstanding principal balance of the Loan.

 

(b)               Maturity
Date. On the Maturity Date, Borrowers shall pay to Administrative Agent for the account of Lenders (other than any
Defaulting Lender but subject to Section 2.19(c)), all outstanding principal, accrued and unpaid
interest, default interest, late charges, Prepayment Premium, if applicable, and any and all other amounts due under the Loan
Documents.

 

AMENDED AND RESTATED LOAN
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Section 2.4          
Prepayment.

 

(a)              
Right to Prepay. The Loan may be prepaid in whole or in part at any time, provided Borrowers pay with such
prepayment all accrued interest and all other outstanding amounts then due and unpaid under the Loan Documents, including, without
limitation, Prorated Interest, the Prepayment Premium, and any Libor Breakage Amount.

 

(b)              
Prepayment Not Made on a Payment Date. If for any reason the Loan or any portion thereof is prepaid on a day
other than a scheduled monthly Payment Date, interest shall be prorated (the “Prorated Interest”) through
the date of prepayment. On the prepayment date, Borrowers shall pay to Administrative Agent, for the account of Lenders, as applicable,
the applicable principal of the Loan, Prorated Interest, Prepayment Premium, if applicable, Libor Breakage Amount, and any other
amounts, if any, required under this Agreement.

 

(c)              
Involuntary Prepayment. If the Loan is accelerated for any reason other than casualty or condemnation, Borrowers
shall pay to Administrative Agent, for the account of Lenders, in addition to all other amounts outstanding under the Loan Documents,
including without limitation, Prorated Interest (if applicable) the Libor Breakage Amount (if applicable), and a prepayment premium
equal to the Prepayment Premium, if applicable.

 

(d)              
Prepayment Due to Casualty or Condemnation. In the event of a prepayment resulting from the application of
insurance or condemnation proceeds pursuant to Article 3 hereof, no Prepayment Premium shall be imposed, and Lenders
agree to use commercially reasonable efforts to mitigate and minimize the LIBOR Breakage Amount arising out of such prepayment.

 

(e)              
Prepayment Following a Casualty. Following the occurrence of a Casualty at a Project, if Borrowers elect to
prepay the Allocated Loan Amount in respect of such Project in accordance with the terms of Section 3.2(d), Borrowers
shall (i) provide not less than ten (10) days’ notice to Administrative Agent of such prepayment and (ii) pay with
such prepayment of the Allocated Loan Amount all accrued interest, including Prorated Interest on the amount being prepaid, but
without payment of any Prepayment Premium. Concurrently with the completion of the prepayment, and provided that Borrowers otherwise
satisfy the requirements of Section 2.18 with respect to Partial Releases (other than payment of the Partial Release
Price and other than Sections 2.18(a)(iv)), Administrative Agent and Lenders shall (i) release and discharge the
Project from the Mortgage and the other documents securing the Loan (or assign the same at the request of Borrower) and the Assignment
of Ownership Interests Agreement, (ii) release and discharge Borrower from its obligations under the Loan Documents, except
for those obligations that expressly survive the repayment of the Obligations under this Agreement, the other Loan Documents and
the Environmental Indemnity, and (iii) execute and deliver all instruments reasonably required to effect such release and
discharge (or assignment). Borrowers shall also pay all reasonable out of pocket expenses incurred by Administrative Agent and
Lenders in connection with the prepayment and the release and discharge of the Project from the Mortgage (or the assignment of
the applicable Mortgages).

 

AMENDED AND RESTATED LOAN
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(f)               
Character of Prepayment Premium. The Prepayment Premium does not constitute a penalty, but rather represents
the reasonable estimate, agreed to between Borrowers and each Lender, of fair compensation for the loss that may be sustained by
such Lender due to the payment of the principal Indebtedness of Borrowers prior to the Maturity Date and/or the increased cost
and expense to such Lender resulting from an acceleration of the Loan. Any Prepayment Premium shall be paid without prejudice to
the right of any Lender to collect on its behalf any of the amounts owing under the Note, this Agreement or the other Loan Documents
or otherwise, to enforce any of its rights or remedies arising out of an Event of Default.

 

Section 2.5          
Security; Establishment of Funds; Deposit Accounts.

 

(a)              
Security. The Loan shall be secured by the Mortgage, creating a first lien on Borrowers’ respective
fee and/or leasehold interests in the Projects, and the other Loan Documents.

 

(b)              
Establishment of Funds. Borrowers agree to establish the following reserves or escrows with Administrative
Agent, to be held by Administrative Agent as further security for the Loan subject to the terms hereto:

 

(i)                
on the Closing Date, Borrowers shall deposit with Administrative Agent the amount of $207,038 (the “Required
Repair Fund”) which shall be held by Administrative Agent for the completion of the required repairs set forth on
Schedule 11.36 annexed hereto (the “Required Repairs”) on or before the date(s)
specified in Schedule 11.36. Borrowers shall provide Administrative Agent with evidence reasonably satisfactory
to Administrative Agent of the completion of the Required Repairs, all of which shall be performed in a manner reasonably satisfactory
to Administrative Agent and in accordance with all applicable Requirements of Law; and

 

(ii)             
Borrowers shall (A) deposit with Administrative Agent on each Payment Date one-twelfth (1/12th) of the product
of $0.15 multiplied by the number of rentable square feet in each Individual Project other than each Individual Project that is
the subject of a triple net lease with the Tenant solely responsible for all replacement and repairs (“Triple Net Project”),
each such Triple Net Project as of the date hereof being identified on Schedule 2.5 hereof, which shall
be held by Administrative Agent for replacements and repairs required to be made to the Projects during the term of the Loan (the
“Replacement Escrow Fund”) pursuant to the terms hereof or (B) provide a Payment Guaranty to Administrative
Agent for the benefit of the Administrative Agent and Lenders.

 

Administrative Agent shall hold the Funds,
and any and all other impounds or reserves otherwise provided for in this Agreement, for the benefit of all Lenders subject to
the terms hereof.

 

AMENDED AND RESTATED LOAN
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(c)               Pledge
and Disbursement of Funds. Borrowers hereby pledge to Administrative Agent and Lenders, and grant a security interest
in, any and all monies now or hereafter deposited in the Funds as additional security for the payment of the Loan.
Administrative Agent may reasonably reassess its estimate of the amount necessary for the Funds from time to time and
may reasonably adjust the monthly amounts required to be deposited into the Funds upon thirty (30) days’ notice to
Borrowers. Administrative Agent shall make disbursements from the Funds as requested by Borrowers, and approved by
Administrative Agent in its reasonable discretion, on a monthly basis in increments of no less than $5,000.00 not later than
ten (10) days following delivery by Borrowers of Administrative Agent’s standard form of draw request, accompanied
by copies of invoices for the amounts requested and, if reasonably required by Administrative Agent, conditional lien waivers
and releases from all parties furnishing materials and/or services in connection with the requested payment (which waivers
and releases may be subject to receipt of the dollars being requested). If Borrower makes a request for disbursement of Funds
in excess of $25,000, Administrative Agent may require an inspection of the Projects at Borrowers’ expense prior to
making a disbursement in order to verify completion of replacements and repairs for which reimbursement is sought. Lenders
and Borrowers acknowledge and agree that the Funds shall be held without interest in Administrative Agent’s name or in
the name of CONA as an Affiliate of Administrative Agent and may be commingled with the general funds of Administrative
Agent. Upon the occurrence and continuation of an Event of Default, Administrative Agent may (and at the direction of the
Required Lenders shall) apply any sums then present in the Funds to the payment of the Loan in any order in the reasonable
discretion of Administrative Agent. Until expended or applied as above provided, the Funds shall constitute additional
security for the Loan. Administrative Agent shall have no obligation to release any of the Funds while any Event of Default
exists or any Material Adverse Change has occurred in any Borrower or any other Borrower Party or any Project. All costs and
expenses, if any, incurred by Administrative Agent in the disbursement of any of the Funds shall be paid by Borrowers
promptly upon demand or, at Administrative Agent’s sole discretion, deducted from the Funds. Any amounts remaining in
the Funds at the time of payment and performance in full of the Obligations or, if earlier, completion of all
Required Repairs solely with respect to the Required Repair Fund so long as no Potential Default or Event of Default exists,
shall be promptly disbursed to Borrowers; provided, however the requirement for no Potential Default to exist may be waived
by Administrative Agent in its sole discretion for Potential Non-Monetary Defaults.

 

(d)              
[Reserved].

 

(e)              
[Reserved].

 

(f)               
Deposit Accounts. Subject to the provisions of Section 7.20 of this Agreement, Borrowers shall
(i) maintain all Deposit Accounts with Administrative Agent (or other Deposit Account Bank) which accounts shall be subject
to Deposit Account Control Agreements and (ii) cause all rents payable under the Leases to be deposited into a Deposit Account
subject to a Deposit Account Control Agreement within five (5) Business Days of receipt of same by Borrowers.

 

AMENDED AND RESTATED LOAN
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Section 2.6          
Application of Payments.

 

(a)               Payments
Following an Event of Default. Upon the occurrence and during the continuance of an Event of Default, all payments
shall be applied in such order as Administrative Agent shall determine in its sole discretion or as directed by the Required
Lenders. Notwithstanding anything herein to the contrary, if at any time during the existence of an Event of
Default, Administrative Agent applies any payments received or the proceeds of any Collateral to principal payments on the
Loan, Administrative Agent shall apply such payments or proceeds pro rata between such principal on the Loan and the
Obligations under the Secured Hedge Agreements based on the outstanding principal balance of the Loan and the Obligations
under the Secured Hedge Agreements.

 

(b)              
Application of Payments Generally. All repayments of the Loan shall be applied to reduce the remaining installments
of the outstanding principal amount of the Loan in the inverse order of maturity (together with accrued interest thereon as applicable).

 

(c)              
Payments and Computations. Borrowers shall make each payment under any Loan Document not later than 2:00 p.m.
(Eastern Standard or Daylight Savings time) on the day when due to Administrative Agent by wire transfer or Automated Clearing
House (“ACH”) transfer to be initiated by Administrative Agent (which shall be the exclusive means of
payment hereunder) to the following account (or at such other account or by such other means to such other address as Administrative
Agent shall have notified Borrowers in writing within a reasonable time prior to such payment) in immediately available Dollars
and without setoff or counterclaim:

 

	Bank:	Capital One, N.A.
	ABA/Routing Number:  	065000090
	Account Name:	Agency Clearing
	Account Number:	38395-10002131
	Reference:  	HTI MOB Portfolio 

 

Administrative Agent
shall cause to be distributed immediately available funds relating to the payment of principal, interest or fees to Lenders, in
accordance with the application of payments set forth in Section 2.6(a), promptly after receipt or deemed receipt,
but not later than one Business Day following receipt (or deemed receipt) by Administrative Agent. Administrative Agent shall have
no obligation to make any payments to a Lender except out of amounts received or applied by Administrative Agent with respect to
the Loan, and only if and to the extent payable in accordance with said Section 2.6(a). Payments received by Administrative
Agent after 2:00 p.m. (Eastern Standard or Daylight Savings time) shall be deemed to be received on the next Business Day.

 

(d)              
Computations of Interests and Fees. All computations of interest and of fees shall be made by Administrative
Agent on the basis of a fraction, the denominator of which is three hundred sixty (360) and the numerator of which is the actual
number of days elapsed from the date of the initial disbursement under the Loan or the date of the preceding Payment Date, as the
case may be, to the date of the next Payment Date or the Maturity Date, as the case may be. Each determination of an interest rate
or the amount of a fee hereunder shall be made by Administrative Agent in its reasonable discretion and shall be conclusive, binding
and final for all purposes, absent manifest error.

 

(e)              
Payment Dates. Whenever any payment hereunder shall be stated to be due on a day other than a Business Day,
the due date for such payment shall be extended to the next succeeding Business Day without any increase in such payment as a result
of additional interest or fees.

 

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(f)               
Advancing Payments. Unless Administrative Agent shall have received notice from Borrowers prior to the date
on which any payment is due hereunder that Borrowers will not make such payment in full, Administrative Agent may assume that Borrowers
has made such payment in full to Administrative Agent on such date and Administrative Agent may, in reliance upon such assumption,
cause to be distributed to each Lender on such due date an amount equal to the amount then due such Lender. If and to the extent
that Borrowers shall not have made such payment in full to Administrative Agent, each Lender shall repay to Administrative Agent
on demand such amount distributed to such Lender together with interest thereon (at the Federal Funds Rate) for each day from the
date such amount is distributed to such Lender until the date such Lender repays such amount to Administrative Agent.

 

Section 2.7          
Sources and Uses. The sources and uses of funds for the contemplated transaction are as provided in writing to
the Administrative Agent on the Closing Date. Borrowers shall deliver such information and documentation as Administrative Agent
reasonably shall request to verify that such sources and uses. The proceeds of the Loan are intended and will be used for agricultural,
business and/or commercial purposes and are not intended and will not be used for personal, family or household purposes.

 

Section 2.8          
Increased Costs.

 

(a)                 
Increased Costs Generally. If any Change in Law shall:

 

(i)              
impose, modify or deem applicable any reserve, special deposit, compulsory loan, insurance charge or similar requirement
against assets of, deposits with or for the account of, or credit extended or participated in by, any Lender;

 

(ii)             
subject any Recipient to any Taxes (other than (A) Indemnified Taxes, (B) Taxes described in clauses (b) through
(d) of the definition of Excluded Taxes and (C) Connection Income Taxes) on its loans, loan principal, letters of credit,
commitments, or other obligations, or its deposits, reserves, other liabilities or capital attributable thereto; or

 

(iii)           
impose on any Lender or the London interbank market any other condition, cost or expense (other than Taxes) affecting this
Agreement or Loan made by such Lender;

 

and the result of any
of the foregoing shall be to increase the cost to such Lender or such other Recipient of making, converting to, continuing or maintaining
any Loan or of maintaining its obligation to make any such Loan, or to increase the cost to such Lender, or to reduce the amount
of any sum received or receivable by such Lender or other Recipient hereunder (whether of principal, interest or any other amount)
then, upon request of such Lender or other Recipient, Borrowers will pay to such Lender or other Recipient, as the case may be,
such additional amount or amounts as will compensate such Lender, or other Recipient, as the case may be, for such additional costs
incurred or reduction suffered.

 

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(b)              Capital
Requirements. If any Lender determines that any Change in Law affecting such Lender or any lending office of such
Lender’s holding company, if any, regarding capital or liquidity requirements, has or would have the effect of reducing
the rate of return on such Lender’s capital or on the capital of such Lender’s holding company, if any, as a
consequence of this Agreement, the Loan Commitment of such Lender or the Loan made by such Lender, to a level below
that which such Lender or such Lender’s holding company could have achieved but for such Change in Law (taking into
consideration such Lender’s policies and the policies of such Lender’s holding company with respect to capital
adequacy), then from time to time Borrowers will pay to such Lender such additional amount or amounts as will compensate such
Lender or such Lender’s holding company for any such reduction suffered.

 

(c)              
Certificates for Reimbursement. A certificate of a Lender setting forth the amount or amounts necessary to
compensate such Lender or its holding company, as the case may be, as specified in Sections 2.8(a) or (b)
and delivered to Borrowers, shall be conclusive absent manifest error. Borrowers shall pay such Lender the amount shown as due
on any such certificate within 10 days after receipt thereof.

 

(d)              
Delay in Requests. Failure or delay on the part of any Lender to demand compensation pursuant to this Section
shall not constitute a waiver of such Lender’s right to demand such compensation; provided that Borrowers shall not
be required to compensate a Lender pursuant to this Section for any increased costs incurred or reductions suffered more than 180
days prior to the date that such Lender notifies Borrowers of the Change in Law giving rise to such increased costs or reductions,
and of such Lender’s intention to claim compensation therefor (except that, if the Change in Law giving rise to such increased
costs or reductions is retroactive, then the 180-day period referred to above shall be extended to include the period of retroactive
effect thereof).

 

Section 2.9          
Illegality; Market Disruption Event.

 

(a)                  Illegality.
If any Lender determines in good faith that any Change in Law has made it unlawful, or any Governmental Authority has
asserted that it is unlawful, for any Lender to maintain Loans or any Governmental Authority has imposed
material restrictions on the authority of such Lender to purchase or sell, or to take deposits of, Dollars in the London
interbank Eurodollar market, then (a) such Lender shall promptly notify the Borrower Representative thereof (with a copy
to Administrative Agent) and (b) if such Change in Law or such restrictions shall so mandate, such Lender’s Loan
shall be prepaid by Borrowers, together with accrued and unpaid interest thereon and all other amounts payable with respect
thereto by Borrowers under this Agreement (but without any Prepayment Premium), on or before such date as shall be mandated
by such Change in Law or such restrictions, to Administrative Agent for the account of such Lender, on the last day of the
then current Interest Period for such Loan (or on such earlier date as shall be notified to by Lender as being the last
permissible date for such prepayment under the relevant applicable Law) but in all events no sooner than sixty (60) days
after Administrative Agent’s request for such prepayment; provided, that, (i) in the event that such Lender
has notified the Borrower Representative that it is not unlawful for such Lender to maintain any Loan accruing interest at a
rate determined by reference to the Base Rate, the portion of the Loan held by such Lender bearing interest at the Contract
Rate will automatically at the end of the Libor Interest Period during which such notice is delivered to Borrower
Representative, convert to bearing interest at the Base Rate, and (ii) the obligation of such Lender to make or maintain
Loans bearing interest at the Contract Rate shall be suspended, in each case until Administrative Agent shall notify the
Borrower Representative that such Lender has determined that the circumstances causing such suspension no longer exist (of
which cessation each such Lender agrees to promptly notify Administrative Agent).

 

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(b)                 
Market Disruption Event. If, on or prior to the first day of any Interest Period (an “Affected
Interest Period”):

 

(i)              
Administrative Agent determines (which determination shall be made in good faith and be conclusive and binding on Borrowers
absent manifest error) that, by reason of circumstances affecting the London interbank Eurodollar market, the “LIBOR Rate”
cannot be determined pursuant to the definition thereof, or

 

(ii)             
Administrative Agent and the Required Lenders determine in good faith that for any reason in connection with any request
for a Loan bearing interest at the Contract Rate or a continuation thereof that (A) Dollar deposits are not being offered
to banks in the London interbank Eurodollar market for the applicable amount and Interest Period of such Loan bearing interest
at the Contract Rate, or (B) the LIBOR Rate for any requested Interest Period with respect to a proposed Loan bearing interest
at the Contract Rate does not adequately and fairly reflect the cost to such Lenders of funding such Loan, then Administrative
Agent will promptly so notify the Borrower Representative and each Lender. Thereafter, the obligation of Lenders to maintain its
Loan bearing interest at the Contract Rate shall be suspended at the end of the Libor Interest Period in which Administrative Agent
so notifies the Borrower Representative until Administrative Agent (upon the instruction of the Required Lenders) revokes such
notice. During any period for which Administrative Agent has notified Borrower Representative that use of the Contract Rate has
been suspended, the Loan will accrue interest at the Base Rate. Upon receipt Administrative Agent’s notice that use of the
Contract Rate is to be suspended, the Borrower Representative may revoke any pending request for a continuation of interest accruing
at the Contract Rate and will be deemed to have converted such request into a request for the Loan to bear interest at the Base
Rate.

 

(c)                  Notwithstanding
anything to the contrary contained herein, if after the Closing Date an Alternate Rate Event occurs, Administrative Agent
will give prompt notice thereof to Borrowers and Lenders, and Administrative Agent and Borrowers shall negotiate in
good faith to establish an alternate rate of interest to the Libor Rate that gives due consideration to the then prevailing
market convention for determining a rate of interest for syndicated commercial mortgage loans in the United States at such
time similar to the Loan, taking into consideration hedge products between Borrower and Administrative Agent and ARRC and
ISDA replacement rate market conventions, as the same may be affected by applicable Governmental Authorities; provided, that,
if such alternate rate of interest shall be less than one percent (1%), such rate shall be deemed to be one percent (1%) for
the purposes of this Agreement (such alternate rate, the “Alternate Rate”). Once the Alternate Rate
has been established, Administrative Agent and Borrowers shall negotiate in good faith to enter into an amendment to this
Agreement reflecting the Alternate Rate and such other related changes (including the addition or subtraction of such margin
as may be required to approximate the Contract Rate in effect prior to the Alternate Rate Event) as may be reasonably
required by Administrative Agent and Borrowers (an “Alternate Rate Amendment”). Administrative
Agent shall promptly deliver any proposed Alternate Rate Amendment to Lenders in writing, and such proposed Alternate Rate
Amendment shall be effective without any further action or consent of any other Lenders so long as Administrative Agent shall
not have received written notice from Required Lenders objecting to such Alternate Rate Amendment within five (5) Business
Days. From the occurrence of an Alternate Rate Event until an Alternate Rate Amendment is effective, the Contract Rate shall
be the Base Rate, plus the Applicable Margin. If the Alternate Rate or Base Rate is applied in accordance with the terms of
this Section 2.9(c), then any such Alternate Rate or Base Rate (as applicable) will, with an applicable spread (which
may be positive or negative), approximate the Contract Rate calculated based on normalized Libor Rate immediately prior to
the application of the Alternate Rate or Base Rate (as applicable) prior to the Alternate Rate Event, as reasonably adjusted
by Administrative Agent.

 

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Section 2.10      
Interest Rate Protection. Within 5 days of the Closing Date, Borrowers shall or shall cause Guarantor, at their
sole cost and expense, obtain and maintain or cause to be obtained and maintained an interest rate swap for the benefit of Borrowers
pursuant to a Hedge Agreement reasonably satisfactory to Administrative Agent (a) having a term coterminous with the scheduled
Maturity Date, and (b) sufficient to hedge the interest rate on the outstanding principal amount of the Loan. Upon repayment
of the Loan in full, Administrative Agent shall assign the Hedge Agreements back to a Borrower Party or an Affiliate of Borrowers
(at Borrowers’ direction). Except in connection with a Secured Hedge Agreement, the Projects shall not be pledged or encumbered
in any manner to secure any obligation under the Hedge Agreement. Borrowers shall not enter into any interest rate swap agreement,
interest rate cap agreement, interest rate collar agreement or other similar agreement pertaining to fluctuations in interest rates,
or any swaps, caps or collar agreements or similar arrangements providing for protection against fluctuations in currency exchange
rates, either generally or under specific contingencies, other than the Hedge Agreement contemplated by this Section 2.10,
and not for speculative purposes. Notwithstanding anything set forth herein or in any other Loan Document to the contrary, pursuant
to the rights of set-off set forth in a Secured Hedge Agreement, Guarantor shall have the right to set off against any payments
due and payable by any Borrower Party under any Loan Document, including payments of interest and principal on the Loan, any amount
payable to Guarantor by any Secured Hedge Provider under any such Secured Hedge Agreement as provided therein.

 

Section 2.11      
Libor Breakage Amount. Upon any payment of the Loan (or any portion thereof) on any day that is not the last
day of the Libor Interest Period applicable thereto (regardless of the source of such prepayment and whether voluntary, by acceleration
or otherwise), Borrowers shall pay to Administrative Agent, for the account of Lenders (other than a Defaulting Lender) the Libor
Breakage Amount. For purposes of calculating the Libor Breakage Amount payable to a Lender under this Section 2.11,
each Lender shall be deemed to have actually funded the Loan through the purchase of a deposit bearing interest at the Libor Rate
in an amount equal to the amount of the Loan and having a maturity and repricing characteristics comparable to the relevant Libor
Interest Period; provided, however, that each Lender may fund its Pro Rata Share of the Loan in any manner it sees
fit, and the foregoing assumption shall be utilized only for the calculation of amounts payable under this Section 2.11.

 

Section 2.12      
Evidence of Debt; Loan Accounts.

 

(a)                 
Administrative Agent, on behalf of Lenders, shall record on its books and records the amount of each Loan made, the interest
rate applicable, all payments of principal and interest thereon and the principal balance thereof from time to time outstanding.
Administrative Agent shall deliver to the Borrower Representative on a monthly basis a loan statement setting forth such record
for the immediately preceding calendar month. Such record shall, absent manifest error, be conclusive evidence of the amount of
the Loans made by Lenders to Borrowers and the interest and payments thereon. Any failure to so record or any error in doing so,
or any failure to deliver such loan statement shall not, however, limit or otherwise affect the obligation of Borrowers hereunder
(and under any Note) to pay any amount owing with respect to the Loans or provide the basis for any claim against Administrative
Agent.

 

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(b)              
Administrative Agent, acting as a non-fiduciary agent of Borrowers solely for tax purposes and solely with respect to the
actions described in this Section 2.12(b), shall establish and maintain at its address referred to in Section 11.1
(or at such other address as Administrative Agent may notify the Borrower Representative) (A) a record of ownership (the “Register”)
in which Agent agrees to register by book entry the interests (including any rights to receive payment hereunder) of Administrative
Agent and each Lender, each of their obligations under this Agreement to participate in each Loan, and any assignment of any such
interest, obligation or right and (B) accounts in the Register in accordance with its usual practice in which it shall record
(1) the names and addresses of Lenders (and each change thereto pursuant to Sections 11.1 and 11.3), (2) the
Commitments of each Lender, (3) the amount of each Loan and each funding of any participation described in clause (A)
above, (4) the amount of any principal or interest due and payable or paid and (5) any other payment received by Administrative
Agent from a Borrower and its application to the Obligations.

 

(c)              
Notwithstanding anything to the contrary contained in this Agreement, the Loans (including any Notes evidencing such Loans)
are registered obligations. The right, title and interest of Lenders and their assignees in and to such Loans shall be transferable
only upon notation of such transfer in the Register and no assignment thereof shall be effective until recorded therein. This Section 2.12
and Section 11.1 shall be construed so that the Loans are at all times maintained in “registered form”
within the meaning of Sections 163(f), 871(h)(2) and 881(c)(2) of the Code.

 

(d)              
The Borrower Parties, Administrative Agent and Lenders shall treat each Person whose name is recorded in the Register as
a Lender for all purposes of this Agreement. Information contained in the Register with respect to any Lender shall be available
for access by Borrowers, the Borrower Representative, Administrative Agent or such Lender during normal business hours and from
time to time upon at least one Business Day’s prior notice. No Lender shall, in such capacity, have access to or be otherwise
permitted to review any information in the Register other than information with respect to such Lender or unless otherwise agreed
by Administrative Agent.

 

Section 2.13      
[Reserved].

 

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Section 2.14      
Mitigation Obligations; Replacement of Lenders.

 

(a)                 
Mitigation Obligations. If any Lender requests compensation under Section 2.8 or Section 2.9,
or any Borrower is required to pay any additional amount to any Lender or any Governmental Authority for the account of any Lender
pursuant to Section 2.17, then such Lender shall (at the request of the Borrower Representative) use reasonable efforts
to designate a different lending office for funding or booking its Loans hereunder or to assign its rights and obligations hereunder
to another of its offices, branches or affiliates, if, in the judgment of such Lender, such designation or assignment (i) would
eliminate or reduce amounts payable pursuant to Sections 2.17, 2.8 or 2.9, as the case may be, in the
future, and (ii) would not subject such Lender to any unreimbursed cost or expense and would not otherwise be disadvantageous
to such Lender. Borrowers hereby agree to pay all reasonable costs and expenses incurred by any Lender in connection with any such
designation or assignment.

 

(b)                 
Replacement of Lenders. If any Lender requests compensation under Sections 2.8 or 2.9, or requires
any Borrower to pay any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to
Section 2.17 and, in each case, such Lender has declined or is unable to designate a different lending office in accordance
with Section 2.14(a), or if any Lender is a Defaulting Lender, then Borrowers may, at their sole expense, upon notice
to such Lender and Agent, require such Lender to assign and delegate, without recourse (in accordance with and subject to the restrictions
contained in, and consents required by, Section 11.3), all of its interests, rights (other than its existing rights
to payments pursuant to Sections 2.8 or 2.9) and obligations under this Agreement and the related Loan Documents
to an Eligible Assignee under Section 11.3 that shall assume such obligations (which assignee may be another Lender,
if a Lender accepts such assignment); provided that:

 

(i)              
Borrowers shall have paid to Agent the assignment fee (if any) specified in Section 11.3;

 

(ii)             
such assigning Lender shall have received payment of an amount equal to the outstanding principal of its portion of the
Loan and accrued interest thereon, accrued fees and all other amounts payable to it hereunder and under the other Loan Documents
in connection therewith (including, without limitation, any LIBOR Breakage Amount except where such assignment is of a Defaulting
Lender’s interest or the assigning Lender declined to designate a different lending office despite having the ability to
do so) from the assignee (to the extent of such outstanding principal and accrued interest and fees) or Borrowers (in the case
of any applicable Libor Breakage Amount or Prepayment Premium);

 

(iii)            
in the case of any such assignment resulting from a claim for compensation under Section 2.13, or payments required
to be made pursuant to Section 2.17, such assignment will result in a concomitant reduction in such compensation or
payments thereafter; and

 

(iv)            
such assignment does not conflict with Requirements of Law.

 

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

 

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Section 2.15      
Pro Rata Treatment; Sharing of Payments.

 

(a)              
Pro Rata Treatment. (i) The advance of the Loan from Lenders under Section 2.1 and each advance
under Section 9.2((b), shall be made by Lenders based on their Pro Rata Share; (ii) each payment or prepayment
of principal of the Loan by Borrowers shall be made for account of Lenders based on their Pro Rata Share; and (iii) each payment
of interest on the Loan by Borrowers shall be made for account of Lenders pro rata in accordance with the amounts of interest on
such Loans then due and payable to the respective Lenders.

 

(b)              
Sharing of Payments, Etc.

 

(i)              
If any Lender shall obtain from any Borrower payment of any principal of or interest on the Loan owing or payment of any
other amount under this Agreement or any other Loan Document through the exercise of any right of set off, banker’s lien
or counterclaim or similar right or otherwise (other than from Administrative Agent as provided herein), and, as a result of such
payment, such Lender shall have received a greater percentage of the principal of or interest on the Loan or such other amounts
then due hereunder or thereunder by Borrowers to such Lender (other than pursuant to any Secured Hedge Agreements) than the percentage
received by any other Lender, it shall promptly purchase from such other Lenders participations in (or, if and to the extent specified
by such Lender, direct interests in) the Loan or such other amounts, respectively, owing to such other Lenders (or in interest
due thereon, as the case may be) in such amounts, and make such other adjustments from time to time as shall be equitable, to the
end that all Lenders shall share the benefit of such excess payment (net of any expenses that may be incurred by such Lender in
obtaining or preserving such excess payment) pro rata in accordance with the unpaid principal of or interest on the Loan or such
other amounts, respectively, owing to each of Lenders. To such end, all Lenders shall make appropriate adjustments among themselves
(by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored.

 

(ii)            
Borrowers agree that any Lender so purchasing such a participation (or direct interest) may exercise all rights of set off,
banker’s lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct
holder of the Loan or other amounts (as the case may be) owing to such Lender in the amount of such participation.

 

(iii)           
Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to
exercise, and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of Borrowers.
If, under any applicable bankruptcy, insolvency or other similar law, any Lender receives a secured claim in lieu of a set off
to which this Section 2.15(b) applies, such Lender shall, to the extent practicable, exercise its rights in respect
of such secured claim in a manner consistent with the rights of Lenders entitled under this Section 2.15(b) to share
in the benefits of any recovery on such secured claim.

 

Section 2.16      
Fees and Expenses. Borrowers agree to pay to Administrative Agent (for the benefit of Lenders, as applicable)
an annual collateral monitoring fee paid annually to cover property inspections by Administrative Agent in an amount equal to
$150 per month per Project, as same shall be reduced by $1,800 per annum (or to the extent prepaid, Borrowers shall receive a
pro-rata credit of such amount) upon a release (without substitution) of any property from the lien of the security instruments
securing the Loan. The first such fee is due on the Closing Date.

 

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Section 2.17      
Taxes.

 

(a)                 
Defined Terms. For purposes of this Section 2.17, the term “Requirements of Law”
includes FATCA.

 

(b)                 
Payments Free of Taxes. Any and all payments by or on account of any obligation of any Borrower Party under
any Loan Document shall be made without deduction or withholding for any Taxes, except as required by Requirements of Law. If any
Requirements of Law (as determined in the good faith discretion of an applicable withholding agent) requires the deduction or withholding
of any Tax from any such payment by Administrative Agent or a Borrower Party, then Administrative Agent or such Borrower Party
shall be entitled to make such deduction or withholding and shall timely pay the full amount deducted or withheld to the relevant
Governmental Authority in accordance with Requirements of Law and, if such Tax is an Indemnified Tax, then the sum payable by the
applicable Borrower Party shall be increased as necessary so that after such deduction or withholding has been made (including
such deductions and withholdings applicable to additional sums payable under this Section) the applicable Recipient receives an
amount equal to the sum it would have received had no such deduction or withholding been made.

 

(c)                 
Payment of Other Taxes by the Borrower Parties. The Borrower Parties shall timely pay to the relevant Governmental
Authority in accordance with Requirements of Law, or at the option of Administrative Agent timely reimburse it for the payment
of, any Other Taxes.

 

(d)                 
Indemnification by Borrower. The Borrower Parties shall jointly and severally indemnify each Recipient, within
ten (10) days after demand therefor, for the full amount of any Indemnified Taxes (including Indemnified Taxes imposed or asserted
on or attributable to amounts payable under this Section) payable or paid by such Recipient or required to be withheld or deducted
from a payment to such Recipient and any reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified
Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such
payment or liability delivered to the Borrower Parties by a Lender (with a copy to Administrative Agent), or by Administrative
Agent on its own behalf or on behalf of a Lender, setting forth in reasonable detail the manner in which such amount was determined,
shall be conclusive absent manifest error.

 

(e)                  Indemnification
by Lenders. Each Lender shall severally indemnify Administrative Agent, within ten (10) days after demand therefor,
for (i) any Indemnified Taxes attributable to such Lender (but only to the extent that any Borrower Party has not
already indemnified Administrative Agent for such Indemnified Taxes and without limiting the obligation of the
Borrower Parties to do so), (ii) any Taxes attributable to such Lender’s failure to comply with the provisions of Section 11.3 relating
to the maintenance of a Participant Register and (iii) any Excluded Taxes attributable to such Lender, in each case,
that are payable or paid by Administrative Agent in connection with any Loan Document, and any reasonable expenses
arising therefrom or with respect thereto, whether or not such Taxes were correctly or legally imposed or asserted by the
relevant Governmental Authority. A certificate as to the amount of such payment or liability delivered to any Lender by
Administrative Agent shall be conclusive absent manifest error. Each Lender hereby authorizes Administrative Agent to set off
and apply any and all amounts at any time owing to such Lender under any Loan Document or otherwise payable by Administrative
Agent to Lender from any other source against any amount due to Administrative Agent under this Section 2.17.

 

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(f)                  
Evidence of Payments. As soon as practicable after any payment of Taxes by any Borrower Party to a Governmental
Authority pursuant to this Section 2.17, such Borrower Party shall deliver to Administrative Agent the original or
a certified copy of a receipt issued by such Governmental Authority evidencing such payment, a copy of the return reporting such
payment or other evidence of such payment reasonably satisfactory to Administrative Agent.

 

(g)                 
Status of Lenders.

 

(i)                
Any Lender and Administrative Agent (if not also a Lender) that is entitled to an exemption from or reduction of withholding
Tax with respect to payments made under any Loan Document shall deliver to Borrowers and Administrative Agent, at the time or times
reasonably requested by Borrowers or Administrative Agent, such properly completed and executed documentation reasonably requested
by Borrowers or Administrative Agent as will permit such payments to be made without withholding or at a reduced rate of withholding.
In addition, any Lender and Administrative Agent (if not also a Lender), if reasonably requested by Borrowers or Administrative
Agent, shall deliver such other documentation prescribed by Requirements of Law or reasonably requested by Borrowers or Administrative
Agent as will enable Borrowers or Administrative Agent to determine whether or not such Lender is subject to backup withholding
or information reporting requirements. Notwithstanding anything to the contrary in the preceding two sentences, the completion,
execution and submission of such documentation (other than such documentation set forth in clauses (ii)(A), (ii)(B)
and (ii)(D) below) shall not be required if in Lender’s reasonable judgment such completion, execution or submission
would subject such Lender to any material unreimbursed cost or expense or would materially prejudice the legal or commercial position
of such Lender.

 

(ii)             
Without limiting the generality of the foregoing, if any Borrower is a U.S. Person,

 

(A)            
any Lender that is a U.S. Person and Administrative Agent (if not also a Lender) shall deliver to Borrowers and Administrative
Agent on or prior to the date on which such person becomes a Lender or Administrative Agent (if not also a Lender) hereunder (and
from time to time thereafter upon the reasonable request of Borrowers or Administrative Agent), executed copies of IRS Form W-9
certifying that such person is exempt from U.S. federal backup withholding tax;

 

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(B)             
any Foreign Lender shall, to the extent it is legally entitled to do so, deliver to Borrowers and Administrative Agent (in
such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender
hereunder (and from time to time thereafter upon the reasonable request of Borrowers or Administrative Agent), whichever of the
following is applicable:

 

(1)              
in the case of a Foreign Lender claiming the benefits of an income tax treaty to which the United States is a party (x) with
respect to payments of interest under any Loan Document, executed copies of IRS Form W-8BEN or IRS Form W-8BEN-E, as applicable,
establishing an exemption from, or reduction of, U.S. federal withholding Tax pursuant to the “interest” article of
such tax treaty and (y) with respect to any other applicable payments under any Loan Document, IRS Form W-8BEN or IRS Form
W-8BEN-E, as applicable, establishing an exemption from, or reduction of, U.S. federal withholding Tax pursuant to the “business
profits” or “other income” article of such tax treaty

 

(2)              
executed copies of IRS Form W-8ECI;

 

(3)              
in the case of a Foreign Lender claiming the benefits of the exemption for portfolio interest under Section 881(c)
of the Code, (x) a certificate substantially in form reasonably acceptable to Administrative Agent to the effect that such
Foreign Lender is not a “bank” within the meaning of Section 881(c)(3)(A) of the Code, a “10 percent shareholder”
of any Borrower within the meaning of Section 881(c)(3)(B) of the Code, or a “controlled foreign corporation”
described in Section 881(c)(3)(C) of the Code (a “U.S. Tax Compliance Certificate”) and (y) executed
copies of IRS Form W-8BEN or IRS Form W-8BEN-E, as applicable; or

 

(4)              
to the extent a Foreign Lender is not the beneficial owner, executed copies of IRS Form W-8IMY, accompanied by IRS Form
W-8ECI, IRS Form W-8BEN, or IRS Form W-8BEN-E, as applicable, a U.S. Tax Compliance Certificate substantially in the form reasonably
acceptable to Administrative Agent, IRS Form W-9, and/or other certification documents from each beneficial owner, as applicable;
provided that if the Foreign Lender is a partnership and one or more direct or indirect partners of such Foreign Lender
are claiming the portfolio interest exemption, such Foreign Lender may provide a U.S. Tax Compliance Certificate substantially
in the form reasonably acceptable to Administrative Agent on behalf of each such direct and indirect partner;

 

(C)              any
Foreign Lender shall, to the extent it is legally entitled to do so, deliver to Borrowers and Administrative Agent (in such
number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a
Lender under this Agreement (and from time to time thereafter upon the reasonable request of Borrowers or Administrative
Agent), executed copies of any other form prescribed by Requirements of Law as a basis for claiming exemption from or a
reduction in U.S. federal withholding Tax, duly completed, together with such supplementary documentation as may be
prescribed by Requirements of Law to permit Borrowers or Administrative Agent to determine the
withholding or deduction required to be made; and

 

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(D)            
if a payment made to a Lender under any Loan Document would be subject to U.S. federal withholding Tax imposed by FATCA
if such Lender were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b)
or 1472(b) of the Code, as applicable), such Lender shall deliver to Borrowers and Administrative Agent at the time or times prescribed
by law and at such time or times reasonably requested by Borrowers or Administrative Agent such documentation prescribed by Requirements
of Law (including as prescribed by Section 1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably requested
by Borrowers or Administrative Agent as may be necessary for Borrowers and Administrative Agent to comply with their obligations
under FATCA and to determine that such Lender has complied with such Lender’s obligations under FATCA or to determine the
amount to deduct and withhold from such payment. Solely for purposes of this clause (D), “FATCA” shall
include any amendments made to FATCA after the date of this Agreement.

 

Each Lender agrees
that if any form or certification it previously delivered expires or becomes obsolete or inaccurate in any respect, it shall update
such form or certification or promptly notify Borrowers and Administrative Agent in writing of its legal inability to do so.

 

(h)                 
Treatment of Certain Refunds. If any party determines, in its sole discretion exercised in good faith, that
it has received a refund of any Taxes as to which it has been indemnified pursuant to this Section 2.17 (including
by the payment of additional amounts pursuant to this Section 2.17), it shall pay to the indemnifying party an amount
equal to such refund (but only to the extent of indemnity payments made under this Section with respect to the Taxes giving rise
to such refund), net of all out-of-pocket expenses (including Taxes) of such indemnified party and without interest (other than
any interest paid by the relevant Governmental Authority with respect to such refund). Such indemnifying party, upon the request
of such indemnified party, shall repay to such indemnified party the amount paid over pursuant to this Section 2.17(h)
(plus any penalties, interest or other charges imposed by the relevant Governmental Authority) if such indemnified party is required
to repay such refund to such Governmental Authority. Notwithstanding anything to the contrary in this Section 2.17(h),
in no event will the indemnified party be required to pay any amount to an indemnifying party pursuant to this Section 2.17(h)
the payment of which would place the indemnified party in a less favorable net after-Tax position than the indemnified party would
have been in if the Tax subject to indemnification and giving rise to such refund had not been deducted, withheld or otherwise
imposed and the indemnification payments or additional amounts with respect to such Tax had never been paid. This Section 2.17(h)
shall not be construed to require any indemnified party to make available its Tax returns (or any other information relating to
its Taxes that it deems confidential) to the indemnifying party or any other Person.

 

(i)                 Survival.
Each party’s obligations under this Section 2.17 shall survive the resignation or replacement of
Administrative Agent or any assignment of rights by, or the replacement of, a Lender, the termination of the Loan Commitments
and the repayment, satisfaction or discharge of all obligations under any Loan Document.

 

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Section 2.18      
Partial Releases.

 

(a)              
General Provisions. Notwithstanding anything contained in this Agreement, the Note, the Mortgage or any of
the other Loan Documents to the contrary, upon the request of Borrowers, Administrative Agent agrees to release its Lien with respect
to one or more of the Individual Projects (each, a “Partial Release Project”) from the lien of the related
Mortgage and the other Loan Documents (or, at the applicable Borrower’s request, assign its interest in the Mortgage and
the other Loan Documents applicable to the Individual Project as further provided in clause xi below), release the applicable portion
of the Assignment of Ownership Interest and release the applicable Borrower from its obligations under the Loan Documents and,
provided that all of the following terms and conditions are satisfied (such release herein called a “Partial Release”):

 

(i)                
After giving effect to a Partial Release, payment of the Partial Release Price, and the substitution of a Replacement Project,
if any there shall be at least (x) twenty-five (25) Individual Projects remaining as security for the Loan or (y) seventy-five
percent (75%) of the original principal balance of the Loan as of the Closing Date.

 

(ii)              
There shall exist no Potential Default or Event of Default at the time the Partial Release request is made by Borrowers,
and Borrowers shall certify in writing to Administrative Agent that no Event of Default shall exist immediately after giving effect
to the applicable Partial Release and the execution and delivery of all documents connected therewith; provided, however the requirement
for no Potential Default to exist may be waived by Administrative Agent in its sole discretion for Potential Non-Monetary Defaults.

 

(iii)             
In each case after giving effect to the release or assignment of the Partial Release Project, the remaining Projects and
the Replacement Project shall have achieved: (a) a pro forma (i.e., taking into account the release of the Partial
Release Project and excluding the ANOI of such Partial Release Project) Debt Yield equal to the greater of (A) nine percent (9%)
and (B) the in place Debt Yield evidenced by the most recently delivered Compliance Certificate; and (b) a Debt Service Coverage
Ratio of at least 1.25:1.00.

 

(iv)             
Borrowers shall deliver, together with such request for the Partial Release, a pro forma Compliance Certificate showing
that, on a pro forma basis, after giving effect to such release, the financial tests in subsection (iii) herein above (or,
with respect to a release pursuant to Section 2.2(e) hereof, the financial tests in Section 7.13(c) hereof)
shall be satisfied.

 

(v)               Borrowers
shall provide written notice to Administrative Agent of their desire to have the applicable Partial Release Project released
as security for the Loan (the “Release Notice”), and provide Administrative Agent with
all information (including any proposed partial release forms) and documents relating to such release (or the applicable
Mortgage assigned), at least thirty (30) days prior to the anticipated date for such partial release (or assignment) and
deliver to Administrative Agent the documents to be executed by Administrative Agent or Lenders in connection therewith at
least five (5) Business Days before the anticipated date for such partial release (or assignment) which forms of such
documents must be reasonably satisfactory to Administrative Agent in form and substance.

 

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(vi)            
Such release or assignment will not affect the priority of lien or liens on the remainder of the Security, or Administrative
Agent’s or Lenders’ rights in and to the remainder of the Security.

 

(vii)           
Borrowers shall pay all reasonable out of pocket expenses of Administrative Agent, including reasonable attorneys’
fees and expenses, title insurance premiums (if applicable), recording costs and similar costs in connection with the Partial Release.

 

(viii)         
Administrative Agent shall receive reasonable assurances if reasonably requested by Administrative Agent that the Environmental
Indemnity Agreement shall remain in full force and effect with respect to the remaining Security and the Partial Release Project,
subject in each case to the terms and conditions of the Environmental Indemnity Agreement.

 

(ix)            
Provided there is no simultaneous substitution of a Replacement Project in satisfaction of Section 2.18(c) hereof,
Borrowers shall pay to Administrative Agent, for the account of Lenders, an amount equal to 110% of the Allocated Loan Amount for
the Partial Release Project (such amount is the “Partial Release Price”), plus the pro rata portion of
any applicable Prepayment Premium required and calculated on the Partial Release Price; provided, however for the period from the
date hereof through December 19, 2020, if the Partial Release Project is the Careplex Project, the Partial Release Price shall
be an amount equal to 105% of the Allocated Loan Amount for such Project.

 

(x)            
Administrative Agent shall receive such title insurance endorsements as it may require, including partial release endorsements
(if available).

 

(xi)             If
Borrower advises Administrative Agent that it desires Administrative Agent to assign the applicable Mortgage and
other documents securing the Loan encumbering the Partial Release Project to a new lender providing the funds for such
prepayment, then Administrative Agent and Lenders shall (i) reasonably cooperate with Borrower to split and sever the
Note and applicable Mortgage (if applicable) and/or assign the applicable Note and Mortgage and all of the other applicable
Loan Documents to any Person designated by Borrower, which assignment documents shall be in recordable form and otherwise in
form and substance reasonably acceptable to Administrative Agent, (ii) deliver to or as directed by Borrower the
originally executed applicable Note and all originally executed other notes which may have been consolidated, amended and/or
restated in connection with the execution of the applicable Note and which originals were delivered to Administrative Agent,
(iii) execute and deliver an allonge with respect to the applicable Note, (iv) deliver the original executed
Mortgage or a certified copy of record, and (v) execute and deliver such other instruments of conveyance, assignment,
termination, severance and release (including appropriate UCC-3 termination statements and terminations of rent direction
notices to Tenants and other third parties) in recordable form as may reasonably be requested by Borrower to evidence such
assignment; provided however, that Borrowers will pay all costs and expenses of Administrative Agent in connection with the
foregoing and such assignment shall be made without representation, warranty or covenant by Administrative Agent and such
documentation is otherwise acceptable to Administrative Agent in its sole discretion.

 

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(b)              
Upon receipt of the amounts required under Sections 2.18(a)(vii) (or the substitution of a Replacement Project
in accordance with Section 2.18(c) hereof) and 2.18(a)(ix) above and satisfaction of all of the other requirements
contained in this Section 2.18, in addition to releasing the applicable Project from the lien of the applicable Mortgage
and other Loan Documents specific to the Partial Release Project, or assigning the applicable Note, Mortgage and other applicable
documents, Administrative Agent shall also release all obligations of Borrower that is the owner of the Partial Release Project
under all of the Loan Documents, and the other Borrowers under all other Loan Documents as, but only to the extent as to such other
Borrowers, as they relate to the Partial Release Project. Any such application of funds to the Loan shall be deemed a prepayment
and shall be subject to the Libor Breakage Amount and Prepayment Premium, in each case as applicable.

 

(c)       In
connection with the release of a Partial Release Project, Borrowers may request to substitute a project for the Partial Release
Project (the “Replacement Project”) not more than ten (10) times during the term of the Loan by providing
written notice to Administrative Agent simultaneously with the Release Notice along with operating statements for the Replacement
Project for which Debt Yield may be calculated, in form and substance acceptable to Administrative Agent. Subject to satisfaction
of the conditions and covenants set forth in this Section 2.18 and the conditions set forth on Schedule 2.18,
and Administrative Agent and Lender’s prior approval, the Replacement Project shall be added as a Project hereunder provided
that all of the following terms and conditions are satisfied:

 

(i)               
No Potential Default shall exist, and no Event of Default shall have occurred and be continuing under any of the Loan Documents
after giving effect to the substitution of the Replacement Project;

 

(ii)             
Borrowers shall, at Borrowers' expense, deliver to Administrative Agent a Title Policy with respect to the Replacement Project,
with title insurance in accordance with the amount of funds disbursed by Lender. The Title Policy will ensure that the applicable
Mortgage is a valid lien on the Replacement Project and is prior and superior to all other liens and encumbrances except those
set forth on the Title Policy, any other approved by Administrative Agent in writing, and any liens that Borrowers are contesting
pursuant to the terms of the Loan Documents;

 

(iii)           
Borrowers shall deliver, together with the Release Request, a Compliance Certificate evidencing that the pro forma economic
metrics after giving effect to such release and replacement (e.g., loan to appraised “as-is” value, Debt Yield, ANOI,
and debt service coverage) are equal to or greater than those in place prior to such release and replacement, as reasonably determined
by Administrative Agent, or as otherwise agreed to by Required Lenders; and

 

(d)       Borrowers
agree to enter into any amendments to this Agreement, a Mortgage, and, as appropriate, the other Loan Documents, executed by
Borrower, each Lender, and Administrative Agent with respect the Replacement Project as are reasonably required by
Administrative Agent.

 

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(e)       Borrower
agrees to pay Administrative Agent’s reasonable out-of-pocket expenses actually incurred in connection with analyzing the
Replacement Project whether or not the Replacement Project is added as a Project, including, but not limited to, all reasonable
and documented fees and disbursements for Administrative Agent’s legal counsel, title insurance, appraisal fees, documentary
stamp taxes, environmental site assessment expenses, any inspection(s) of the physical condition of the Replacement Project, mortgage
taxes, and recording fees.

 

Section 2.19      
Defaulting Lenders.

 

(a)              
Defaulting Lender Adjustments. Notwithstanding any provision of this Agreement to the contrary, if any Lender
becomes a Defaulting Lender, then the following provisions shall apply for so long as such Lender is a Defaulting Lender:

 

(i)                
Any amount payable to a Defaulting Lender hereunder (whether on account of principal, interest, fees or otherwise) shall,
in lieu of being distributed to such Defaulting Lender, be retained by Administrative Agent in a segregated account and, subject
to any Requirements of Law, be applied at such time or times as may be determined by Administrative Agent (i) first, to the
payment of any amounts owing by such Defaulting Lender to Administrative Agent hereunder, (ii) second, if so determined by
Administrative Agent and Borrowers, held in such account as cash collateral for future funding obligations (if any) of the Defaulting
Lender hereunder, (iii) third, pro rata, to the payment of any amounts owing to Borrowers, Administrative Agent or Lenders
as a result of any judgment of a court of competent jurisdiction obtained by Borrowers, Administrative Agent or any Lender against
such Defaulting Lender as a result of such Defaulting Lender’s breach of its obligations hereunder, and (iv) fourth,
to such Defaulting Lender or as otherwise directed by a court of competent jurisdiction; provided, that if such payment
is a prepayment of the principal amount of the Loans, such payment shall be applied solely to prepay the Loans of all Lenders that
are not Defaulting Lenders pro rata prior to being applied to the prepayment of any Loans of any Defaulting Lender.

 

(ii)             
Notwithstanding anything set forth herein to the contrary, a Defaulting Lender shall not have any voting or consent rights
under or with respect to this Agreement or any other Loan Document or constitute a “Lender” (or be included in the
calculation of “Required Lenders” hereunder) for any voting or consent rights under or with respect to this Agreement
or any other Loan Document except with respect to items described in Section 11.2(a) which require the vote or consent
of all Lenders or all affected Lenders, and no Defaulting Lender shall have any other right to approve or disapprove any amendment,
waiver, consent or any other action Lenders or the Required Lenders have taken or may take hereunder (including any consent to
any amendment or waiver pursuant to Section 11.2), provided that any waiver, amendment or modification described in
Section 11.2(a) requiring the consent of all Lenders or each directly affected Lender which affects such Defaulting
Lender differently than other affected Lenders shall require the consent of such Defaulting Lender.

 

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(iii)           
The failure of any Defaulting Lender to make any Loan, advance or any payment required by it hereunder shall not relieve
any other Lender of its obligations to make such Loan, advance or payment, but neither any Lender nor Administrative Agent shall
be responsible for the failure of any Defaulting Lender to make a Loan, advance or make any other payment required hereunder.

 

(iv)            
At the written request of Borrower Representative, Administrative Agent or a Person reasonably acceptable to Administrative
Agent shall have the right with Administrative Agent’s written consent and in Administrative Agent’s sole discretion
(but without any obligation whatsoever on Administrative Agent) to purchase from any Defaulting Lender, and each Defaulting Lender
agrees that it shall, at Administrative Agent’s written request, promptly sell and assign to Administrative Agent or such
Person, all of the interests of that Defaulting Lender for an amount equal to the principal balance of all Loans held by such Defaulting
Lender and all accrued interest and fees with respect thereto through the date of sale, such purchase and sale to be consummated
(if at all upon Administrative Agent’s election) pursuant to an executed Assignment Agreement.

 

(b)              
Defaulting Lender Cure. If Borrowers and Administrative
Agent agree in writing that a Lender is no longer a Defaulting Lender, Administrative Agent will so notify the parties hereto,
whereupon as of the effective date specified in such notice and subject to any conditions set forth therein (which may include
arrangements with respect to any cash collateral), that Lender will, to the extent applicable, purchase at par that portion of
outstanding Loans of the other Lenders or take such other actions as Administrative Agent may determine to be necessary to cause
the Loans to be held pro rata by Lenders in accordance with their pro rata shares, whereupon such Lender will cease to be a Defaulting
Lender; provided that no adjustments will be made retroactively with respect to fees accrued or payments made by or on
behalf of Borrowers while that Lender was a Defaulting Lender; and provided, further, that except to the extent
otherwise expressly agreed by the affected parties, no change hereunder from Defaulting Lender to Lender will constitute a waiver
or release of any claim of any party hereunder arising from that Lender’s having been a Defaulting Lender.

 

(c)              
Payments Credited to Defaulting Lender. Notwithstanding anything in this Agreement, including this Section 2.19
to the contrary, Administrative Agent and all Lenders agree that Borrower’s delivery to Administrative Agent of all amounts
due and payable to Lenders and/or Administrative Agent at any time shall be deemed delivery of payment to all Lenders and/or Administrative
Agent, as applicable, of such amounts as of the date of delivery of such funds to Administrative Agent by or on behalf of Borrower
regardless of whether Administrative Agent delivers the same to the applicable Lenders including, without limitation, regardless
of whether any amounts are withheld by Administrative Agent from a Defaulting Lender pursuant to the terms of this Agreement.

 

ARTICLE
3

INSURANCE, CONDEMNATION AND IMPOUNDS

 

Section 3.1          
Insurance. Borrowers shall maintain (or cause to be maintained) insurance as follows:

 

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(a)              Property;
Business Interruption. Borrowers shall (i) keep the Projects insured against damage by fire, acts of domestic
and foreign terrorism, any type of wind (including named storms) and such other hazards covered by a special form or all-risk
insurance policy (A) for the full insurable value thereof on a replacement cost basis without any coinsurance,
(B) with a deductible not to exceed $75,000, except for wind/named storms and earthquake, which shall provide for a
deductible of no more than five percent (5%) of the total insurable value of the Projects, (C) containing Law &
Ordinance coverage with respect to any Individual Project if any of the Improvements on or the use of any such Individual
Project shall at any time constitute legal non-conforming structures or uses, including coverage for loss to the undamaged
portion of the building (with a limit equal to replacement cost), the cost of demolition and the increased costs of
construction (each in amounts as reasonably required by Administrative Agent, but not to exceed one hundred percent (100%) of
the replacement cost value for Coverage A and twenty percent (20%) of the replacement cost value for each of Coverages B and
C), and (D) shall maintain boiler and machinery insurance and such other property insurance as reasonably required by
Administrative Agent. Notwithstanding the foregoing, a Tenant may provide all or portion of the property damage coverages
required herein or such coverages acceptable to Administrative Agent, as agreed to by Administrative Agent in its sole and
absolute discretion. Administrative Agent reserves the right to reasonably require such other insurance from time to time,
including but not limited to earthquake, flood (in addition to Federal Flood Insurance) and sinkhole, if exposures are
reasonably deemed to be at an elevated risk to such loss (i.e., Earthquake Zones 3 and 4 with Probably Maximum Loss of
twenty percent (20%) or greater, FEMA Designated Special Flood Hazard Area (SFHA)), each in amounts acceptable to
Administrative Agent. The full insurable value shall be re-determined from time to time (but not more frequently than once in
any twelve (12) calendar months) at the request of Administrative Agent by an appraiser or contractor designated and paid
by Borrowers and reasonably approved by Administrative Agent, or by an engineer or appraiser in the regular employ of the
insurer. No omission on the part of Administrative Agent to request any such ascertainment shall relieve Borrowers of any of
their obligations under this Subsection. Further, if any portion of the Project or personal property at any Project is
located currently or at any time in the future in Special Flood Hazard Area, Borrowers shall deliver to Administrative Agent
the following: (1) evidence as to whether the community in which such Project is located is participating in the
National Flood Insurance Program, (2) the applicable Borrowers’ written acknowledgment of receipt of written
notification from Administrative Agent as to the fact that such Project is located in a Special Flood Hazard Area and as to
whether the community in which such real estate is located is participating in the National Flood Insurance Program, and
(3) copies of the application for a Federal Flood Insurance policy, plus proof of premium payment, a declaration page
confirming that Federal Flood Insurance has been issued, or such other evidence of Federal Flood Insurance satisfactory to
Administrative Agent, in all cases naming Administrative Agent as Mortgagee on behalf of Lenders; and (ii) maintain
business interruption insurance, including rental income loss and extra expense, (A) with loss payable to Administrative
Agent, (B) covering all perils required herein to be insured against, (C) covering a period of restoration of
twelve (12) months and containing an extended period of indemnity endorsement which provides that after the physical loss to
the Improvements has been repaired, the continued loss of income will be insured until such income either returns to the same
level it was at prior to the loss, or the expiration of six (6) months from the date that the applicable Individual Project
is repaired or replaced and operations are resumed, whichever first occurs, and notwithstanding that the policy may
expire prior to the end of such period and (D) in an amount equal to one hundred percent (100%) of the projected gross
revenue (less non-continuing expenses) from the Projects as determined by Administrative Agent for a period of twelve (12)
months, or such lesser amount written on a blanket basis, as determined by Administrative Agent. The amount of such business
interruption insurance shall be determined prior to the date hereof and at least once each year thereafter based on
Borrowers’ reasonable estimate of the gross revenue (less non-continuing expenses) from the Projects for the succeeding
twelve (12) month period. During the existence of an Event of Default, all business interruption proceeds from the Projects
shall be held by Administrative Agent and shall be applied to the Obligations secured by the Loan Documents from time to time
due and payable hereunder and under the Note; provided, however, that nothing herein contained shall be deemed
to relieve Borrowers of their Obligations to pay all amounts due hereunder on the Payment Dates set forth herein, except to
the extent such amounts are actually paid out of the proceeds of such business interruption insurance.

 

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(b)              
Liability. Borrowers shall maintain (i) commercial general liability insurance (with no exclusion for
acts of domestic and foreign terrorism) for both personal injury, bodily injury to or death of a person and for property damage
providing for limits of liability in the amount reasonably approved by Administrative Agent but in no event less than $1,000,000
per occurrence and $2,000,000 in the aggregate, in each case, for the Projects, (ii) umbrella liability coverage in the amount
and to the extent reasonably required by Administrative Agent, not to exceed $50,000,000 and on terms consistent with the general
liability insurance required hereinabove, and (iii) other liability insurance as reasonably required by Administrative Agent,
including but limited to auto liability or worker’s compensation and employer’s liability covering employees of Borrowers.
In no event shall Borrowers consent to any decrease in the amount or scope of coverage or increase the deductibles from those previously
approved by Administrative Agent.

 

(c)              
Construction, Repairs, Alterations. At all times during which structural construction, repairs or alterations
are being made with respect to any Improvements, and only if the property or liability coverage forms do not otherwise apply, (A) commercial
general liability and umbrella liability insurance covering claims related to the construction, repairs or alterations being made
which are not covered by or under the terms or provisions of the commercial general liability and umbrella liability insurance
policy required in Section 3.1(b); and (B) the insurance provided for in Section 3.1(a) written in
a so-called builder’s risk completed value form (1) on a non-reporting basis, (2) against all risks insured against
pursuant to Section 3.1(a), and (3) including permission to occupy the Projects.

 

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(d)               Form
and Quality. All insurance policies shall be obtained under valid and enforceable policies and shall be subject to
the reasonable approval of Administrative Agent as to form and substance, including insurance companies,
amounts, deductibles, loss payees and insureds. Such policies shall be endorsed in form and substance reasonably acceptable
to Administrative Agent to name Administrative Agent (on behalf of Lenders) thereunder as an additional insured, as its
interest may appear, on liability insurance policies and as mortgagee/lender’s loss payable, as its interest may
appear, on all property insurance policies, including but not limited to special form/all-risk, business interruption, boiler
and machinery, terrorism, windstorm, and, when required, flood and earthquake insurance, with all loss payable to
Administrative Agent, without contribution, under a standard non-contributory mortgagee clause. No policy shall contain a
Protective Safeguard Endorsement. Administrative Agent shall act on behalf of Lenders in respect of insurance matters. The
proceeds of insurance paid on account of any damage or destruction to any Project shall be paid to Administrative Agent, on
behalf of Lenders, to be applied as provided in Section 3.2. In the event any Borrower or Property Manager
receives any insurance proceeds as contemplated by this Article 3 (without the same having been disbursed to
Administrative Agent), Borrowers will (with respect to proceeds received by Borrower and only if such proceeds are otherwise
required to be delivered to Administrative Agent hereunder), or if required by the applicable Lease or Ground Lease, will
cause Property Manager (with respect to proceeds received by a Property Manager and only if such proceeds are otherwise
required to be delivered to Administrative Agent hereunder) to immediately return such proceeds to Administrative Agent for
application in accordance with the provisions of Section 3.2. All such insurance policies and endorsements shall
be fully paid for and contain such provisions and expiration dates and be in such form reasonably acceptable to
Administrative Agent and issued by such insurance companies approved to do business in the state in which the applicable
Project is located, with a rating of “A-X” (or better as established by Best’s Rating Guide
or “A-” or better by Standard & Poor’s Ratings Group. Each property insurance policy
shall provide that such policy may not be canceled except upon thirty (30) days’ prior written notice (except ten (10)
days’ prior notice for non-renewal or cancellation due to non-payment of premium) to Administrative Agent and that no
act or negligence of Borrowers, or any other insured under the policy, or failure to comply with the provisions of any Policy
which might otherwise result in a forfeiture of the insurance or any part thereof, or commencement of foreclosure or similar
action, shall in any way affect the validity or enforceability of the insurance insofar as Administrative Agent is concerned.
If available using commercially reasonable efforts, each liability insurance policy shall provide that such policy may not be
canceled except upon thirty (30) days’ prior written notice (except ten (10) days’ prior notice for non-renewal
or cancellation due to non-payment of premium) to Administrative Agent (provided that, if the insurer will not or cannot
provide the required notice, Borrowers shall be obligated to provide such notice). Blanket policies shall be permitted only
if (i) any such policy shall in all other respects comply with the requirements of this Section and (ii) such
policy is approved in advance in writing by Administrative Agent in its reasonable discretion and such policy includes
changes to the coverages and requirements set forth herein as may be required by Administrative Agent (including, without
limitation, increases to the amount of coverages required herein); provided, however, that Borrowers shall not be required to
obtain approval from Administrative Agent for any renewal of a previously approved blanket policy unless the terms of such
policy have been materially changed. Notwithstanding Administrative Agent’s approval of any blanket policy hereunder,
Administrative Agent reserves the right, in its sole discretion, to require Borrowers to obtain a separate policy
in compliance with this Section 3.1. Borrowers authorize Administrative Agent to pay the premiums for such
policies (the “Insurance Premiums”) from the Insurance Impound, if applicable, as the same become
due and payable annually in advance. If Borrowers fail to deposit funds into the Insurance Impound in accordance with and
when required by Section 3.4 sufficient to permit Administrative Agent to pay the Insurance Premiums when due,
Administrative Agent may obtain such insurance and pay the premium therefor and Borrowers shall, on demand, reimburse
Administrative Agent for all expenses incurred in connection therewith. Borrowers shall not maintain any separate or
additional insurance which is contributing in the event of loss unless it is properly endorsed and otherwise reasonably
satisfactory to Administrative Agent in all respects.

 

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(e)              
Assignment; Delivery of Certificates and Policies. Borrowers shall assign (or cause to be assigned) the policies
relating to the Projects and all proceeds payable thereunder or proofs of insurance to Administrative Agent (for the benefit of
Lenders), in such manner and form that Administrative Agent shall require and Administrative Agent and its successors and assigns
shall at all times have and hold the same as security for the payment of the Loan. In the event of a foreclosure of any Security
or other transfer of title to any Project in extinguishment in whole or in part of the Indebtedness, all right, title and interest
of Borrowers in and to the Policies then in force concerning the applicable Project and all proceeds payable thereunder shall thereupon
vest exclusively in Administrative Agent or, subject to the insurer’s prior written approval, the purchaser at such foreclosure
or other transferee in the event of such other transfer of title. Unless otherwise approved by Administrative Agent, with respect
to the property insurance required under this Section 3.1, Borrowers shall provide (i) on or before the Closing
Date, an ACORD 27 or 28 along with a policy binder which is valid for at least 60 days following the Effective Date or a complete
copy of the policy, (ii) endorsements required by Administrative Agent within thirty (30) days following the Closing Date
if not provided on or before the Closing Date and (iii) a copy of the full policy within sixty (60) days following the Closing
Date or prior to expiration of the binder. Unless otherwise approved by Administrative Agent, with respect to the liability and
property insurance required under this Section 3.1, Borrowers shall provide (i) on or before the Closing Date,
an ACORD 25 along with evidence of 30-day notice of cancellation of coverage, (ii) endorsements required by Administrative
Agent within thirty (30) days following the Closing Date if not provided on or before the Closing Date and (c) a copy of the
full policy within sixty (60) days following the Closing Date. If Borrowers elect to obtain any insurance which is not required
under this Agreement, all related insurance policies shall be endorsed in compliance with Section 3.1(d), and such
additional insurance shall not be canceled without prior notice to Administrative Agent. From time to time upon Administrative
Agent’s request, Borrowers shall identify to Administrative Agent all insurance maintained by Borrowers with respect to the
Projects. The proceeds of insurance policies coming into the possession of Administrative Agent shall not be deemed trust funds,
and Administrative Agent shall be entitled to apply such proceeds as herein provided.

 

(f)               
Adjustments. Borrowers shall give prompt written notice of any loss in excess of $100,000 to the insurance
carrier and to Administrative Agent. Borrowers hereby irrevocably authorize and empower Administrative Agent, as attorney in fact
for Borrowers coupled with an interest, to (i) notify any of Borrowers’ insurance carriers to add Administrative Agent
(for itself and the benefit of Lenders) as a loss payee, mortgagee insured or additional insured, as the case may be, to any policy
maintained by Borrowers (regardless of whether such policy is required under this Agreement), (ii) if such loss exceeds the
Restoration Threshold, make proof of loss, to adjust and compromise any claim under insurance policies, appear in and prosecute
any action arising from such insurance policies, and (iii) collect and receive insurance proceeds, and to deduct therefrom
Administrative Agent’s reasonable expenses incurred in the collection of such proceeds. Nothing contained in this Section 3.1(f),
however, shall require Administrative Agent to incur any expense or take any action hereunder.

 

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(g)               Warning
Regarding Right of Administrative Agent to Purchase Insurance: IF BORROWERS FAIL TO PROVIDE ADMINISTRATIVE AGENT WITH
EVIDENCE OF THE INSURANCE COVERAGES REQUIRED BY THIS AGREEMENT, ADMINISTRATIVE AGENT SHALL HAVE THE RIGHT TO TAKE SUCH ACTION
DEEMED NECESSARY TO PROTECT THE INTEREST OF ADMINISTRATIVE AGENT AND LENDERS, INCLUDING, WITHOUT LIMITATION, THE
PURCHASING OF INSURANCE AT BORROWERS’ EXPENSE AS ADMINISTRATIVE AGENT IN ITS SOLE DISCRETION DEEMS APPROPRIATE. THIS
INSURANCE MAY, BUT NEED NOT, ALSO PROTECT BORROWERS’ INTEREST. IF THE COLLATERAL BECOMES DAMAGED, THE COVERAGE
ADMINISTRATIVE AGENT PURCHASES MAY NOT PAY ANY CLAIM BORROWERS MAKE OR ANY CLAIM MADE AGAINST BORROWERS. BORROWERS ARE
RESPONSIBLE FOR ALL EXPENSES INCURRED BY ADMINISTRATIVE AGENT IN CONNECTION WITH SUCH ACTION AND THE COST OF ANY INSURANCE
PURCHASED PURSUANT TO THIS PROVISION AND SUCH COST IS PAYABLE ON DEMAND; IF BORROWERS FAIL TO PAY SUCH COST, IT MAY BE ADDED
TO THE INDEBTEDNESS AND BEAR INTEREST AT THE DEFAULT RATE. THE EFFECTIVE DATE OF COVERAGE MAY BE THE DATE BORROWERS’
PRIOR COVERAGE LAPSED OR THE DATE BORROWERS FAILED TO PROVIDE PROOF OF COVERAGE. THE COVERAGE ADMINISTRATIVE AGENT PURCHASES
MAY BE CONSIDERABLY MORE EXPENSIVE THAN INSURANCE BORROWERS CAN OBTAIN AND MAY NOT SATISFY ANY NEED FOR PROPERTY DAMAGE
COVERAGE OR ANY MANDATORY LIABILITY INSURANCE IMPOSED BY REQUIREMENTS OF LAW. AFTER RECEIVING WRITTEN CONSENT FROM
ADMINISTRATIVE AGENT, BORROWERS MAY LATER CANCEL THIS COVERAGE BY PROVIDING EVIDENCE THAT THE REQUIRED PROPERTY COVERAGE WAS
PURCHASED ELSEWHERE.

 

(h)              
Non-Conforming Policy. As an alternative to the policies required to be maintained pursuant to the preceding
provisions of this Section 3.1, Borrowers will not be in default under this Section 3.1 if Borrowers maintain
(or causes to be maintained) policies which (i) have coverages, deductibles or other related provisions other than those specified
above or (ii) are provided by insurance companies not meeting the credit ratings requirements set forth above (any such policy,
a “Non-Conforming Policy”), provided, that, prior to obtaining such Non-Conforming Policies (or
permitting such Non-Conforming Policies to be obtained), Borrowers shall have received Administrative Agent’s prior written
consent thereto. Notwithstanding the foregoing, Administrative Agent hereby reserves the right to deny its consent to any Non-Conforming
Policy regardless of whether or not Administrative Agent has consented to the same on any prior occasion.

 

Section 3.2          
Use and Application of Insurance Proceeds.

 

(a)              
Notice; Repair Obligation. If any Project shall be damaged or destroyed, in whole or in part, by fire or
other casualty (a “Casualty”), Borrowers shall give prompt notice thereof to Administrative Agent. Following
the occurrence of a Casualty, provided Administrative Agent makes insurance proceeds available to Borrowers, Borrowers shall promptly
proceed to restore, repair, replace or rebuild the same to be of at least equal value and of substantially the same character
as prior to such damage or destruction, all to be effected in accordance with applicable Requirements of Law. If Administrative
Agent is entitled to receive such proceeds and, pursuant to the terms hereof, does not make insurance proceeds available to Borrowers,
Borrowers, at Borrowers’ expense, shall promptly proceed to remove any debris and secure the damaged Project.

 

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(b)              
Application of Insurance Proceeds. Subject to any applicable provisions of the Ground Lease and Recognition
Agreement, Administrative Agent shall make insurance proceeds available to Borrowers for application to the costs of restoring
the damaged Project or to the payment of the Loan as follows:

 

(i)                
if the insurance proceeds plus the amount of any deductible is less than or equal to the Restoration Threshold, Administrative
Agent shall make the insurance proceeds available to Borrowers, which proceeds shall be used by Borrowers to pay for the restoration
of the damaged Project provided (A) no Event of Default exists, and (B) the applicable Borrower promptly commence and
are diligently pursuing restoration of the damaged Project;

 

(ii)             
if the insurance proceeds plus the amount of any deductible exceeds the Restoration Threshold but is not more than twenty-five
percent (25%) of the aggregate amount of the Loans on such date, Administrative Agent shall disburse the insurance proceeds to
the applicable Borrower, which proceeds shall be used by the applicable Borrower for the restoration of the damaged Project; provided
that (A) at all times during such restoration no Event of Default exists; (B) Administrative Agent determines that there
are sufficient funds available to restore and repair the damaged Project to a condition existing immediately prior to such Casualty
or, if Administrative Agent reasonably determines there is any such insufficiency, Borrowers provide additional security to address
such insufficiency to Administrative Agent’s reasonable satisfaction; (C) Administrative Agent reasonably determines
that the Adjusted Net Operating Income of the Projects (including the damaged Project) during restoration, taking into account
rent loss or business interruption insurance, will be sufficient to pay all amounts due hereunder as the same are due and payable;
(D) Administrative Agent reasonably determines that restoration and repair of the damaged Project to a condition reasonably
approved by Administrative Agent will be substantially completed within nine (9) months after the date of loss or casualty and
in any event ninety (90) days prior to the Maturity Date; (E) the applicable Borrower promptly commences and are diligently
pursues restoration of the damaged Project; (F) the Project after the restoration will be in compliance with and permitted
under all Requirements of Law; and (G) Borrowers demonstrate compliance with the financial covenant set forth in Section 7.13(c);
and

 

(iii)           
if the conditions set forth in (i) and (ii) above are not satisfied or the loss exceeds the maximum amount specified in
Section 3.2(b)(ii) above, (A) if no Event of Default exists hereunder, Administrative Agent may elect to apply
any insurance proceeds Administrative Agent receives as a prepayment of the Loan, or allow all or a portion of such proceeds to
be used for the restoration of the damaged Project and (B) if an Event of Default exists hereunder, Administrative Agent shall
apply any insurance proceeds Administrative Agent receives as a prepayment of the Loan. Any prepayment of the Loan made pursuant
to this Section 3.2 shall be made without Prepayment Premium or penalty.

 

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(c)               Disbursement
of Insurance Proceeds. Insurance proceeds received by Administrative Agent and to be applied to restoration pursuant
to the terms of this Section 3.2, will be disbursed by Administrative Agent to the applicable Borrowers on a
monthly basis, commencing within ten (10) Business Days following receipt by Administrative Agent of plans and
specifications, contracts and subcontracts, schedules, budgets, conditional lien waivers and architects’ certificates
all in form reasonably satisfactory to Administrative Agent, and otherwise in accordance with prudent commercial construction
lending practices for construction loan advances (including appropriate retainages to ensure that all work is completed in a
workmanlike manner). Any insurance proceeds remaining after payment of all restoration costs under Section 3.2(b)(ii)
shall be remitted to Borrowers provided no Event of Default shall be continuing.

 

(d)              
Special Right to Repay Loan. Notwithstanding anything in this Sections 3.2 or 3.3 to the
contrary, if pursuant to Section 3.2(b)(iii) above or Section 3.3 below, Administrative Agent elects to
require that the insurance or condemnation proceeds be applied as a prepayment of the Loan, Borrowers shall have the option to
prepay the Allocated Loan Amount for the damaged Project and effect a Partial Release of the applicable Project in accordance with
Section 2.4(e), less any insurance or condemnation proceeds actually received by Administrative Agent at the time of
such prepayment, if any. If the insurance or condemnation proceeds have not been received by Administrative Agent at the time of
prepayment, Borrowers will be entitled to receive all such insurance or condemnation proceeds after such prepayment of the Loan.

 

Section
3.3           Condemnation
Awards. Borrowers shall promptly give Administrative Agent written notice of the actual or threatened commencement of
any condemnation or eminent domain proceeding affecting any Project (a “Condemnation”) and shall
deliver to Administrative Agent copies of any and all papers served in connection with such Condemnation. Following the
occurrence of a Condemnation, Borrowers, regardless of whether any award or compensation (an
“Award”) is available, shall promptly proceed to restore, repair, replace or rebuild the same to
the extent practicable to be of at least equal value and of substantially the same character, as prior to such Condemnation,
all to be effected in accordance with all Requirements of Law. Administrative Agent may participate in any such proceeding
(for itself and on behalf of Lenders) and Borrowers will deliver to Administrative Agent all instruments necessary or
required by Administrative Agent to permit such participation. Without Administrative Agent’s prior consent, Borrowers
(a) shall not agree to any Award, and (b) shall not take any action or fail to take any action which would cause
the Award to be determined. All Awards for the taking or purchase in lieu of condemnation of any Individual Project or any
part thereof are hereby assigned to and shall be paid to Administrative Agent. Administrative Agent is hereby irrevocably
appointed as Borrowers’ attorney-in-fact, coupled with an interest, with exclusive power to collect, receive and retain
any Award and to make any compromise or settlement in connection with any such Condemnation and to give proper receipts and
acquittances therefor, and in Administrative Agent’s sole discretion (in consultation with the Required Lenders) to
apply the same toward the payment of the Loan), notwithstanding that the Loan may not then be due and payable, or to the
restoration of the applicable Project; provided, however, if all Awards in the aggregate are less than or equal
to the Restoration Threshold and Borrowers request that such proceeds be used for nonstructural site improvements (such as
landscape, driveway, walkway and parking area repairs) required to be made as a result of such Condemnation,
Administrative Agent will apply such Award(s) to such restoration in accordance with disbursement procedures applicable to
insurance proceeds provided there exists no Event of Default. Borrowers, upon request by Administrative Agent, shall execute
all instruments requested to confirm the assignment of the Awards to Administrative Agent, free and clear of all liens,
charges or encumbrances. Anything herein to the contrary notwithstanding, if an Event of Default exists, Administrative Agent
is authorized to adjust such Award without the consent of Borrowers and to collect such Award in the name of Administrative
Agent (on behalf of itself and Lenders) and Borrowers.

 

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Section
3.4           Insurance
Impounds. Borrowers shall not be required to deposit Insurance Impounds in escrow with Administrative Agent except as
specifically set forth in this Section 3.4. Upon the occurrence and during the continuance of an Event of
Default, at the option of Administrative Agent, Borrowers shall (i) deposit with Administrative Agent monthly on
each Payment Date, a sum of money for the Projects other than Triple Net Projects for which Borrower has provided timely
evidence of payment of applicable Insurance Premiums (the “Insurance Impound”) equal to one-twelfth
(l/12th) of the annual charges for the Insurance Premiums and (ii) a sum of money which together with the monthly
installments to be made prior to the date that is thirty (30) days before any delinquency or penalty is due with respect to
the Insurance Premiums become due and payable will be sufficient to make each of such payments prior to such date. If
Administrative Agent so elects in its reasonable discretion, at any time following Borrowers obligation to make deposits in
the Insurance Impound, Borrowers shall not be obligated to deposit any sums with Administrative Agent pursuant to this Section 3.4
to the extent Borrowers provide evidence reasonably acceptable to Administrative Agent that Borrowers have paid all such
Insurance Premiums. Deposits shall be made on the basis of Administrative Agent’s estimate from time to time of the
Insurance Premiums for the current year. All funds so deposited shall be held without interest in Administrative
Agent’s name or in the name of CONA as an Affiliate of Administrative Agent (in each case, on behalf of all Lenders),
and shall not be deemed to be held in trust for the benefit of Borrowers. All funds so deposited may be commingled with the
general funds of Administrative Agent including without limitation as follows: (i) with Administrative Agent’s own
funds at financial institutions selected by Administrative Agent in its reasonable discretion; or (ii) with
Administrative Agent’s funds at CONA to be held in a Subaccount designated for Administrative Agent for such purpose.
Borrowers hereby grant to Administrative Agent (for its benefit and the benefit of Lenders) a security interest in all funds
so deposited with Administrative Agent for the purpose of securing the Loan. While an Event of Default exists, the funds
deposited may be applied in payment of the Insurance Premiums for which such funds have been deposited, or to the payment of
the Loan or any other charges affecting the security of Administrative Agent, as Administrative Agent may elect, but no such
application shall be deemed to have been made by operation of law or otherwise until actually made by Administrative Agent.
Borrowers shall furnish Administrative Agent with bills for the Insurance Premiums for which such deposits are required at
least ten (10) days prior to the date on which the Insurance Premiums first become payable. If at any time the amount on
deposit with Administrative Agent, together with amounts to be deposited by Borrowers before such Insurance Premiums are
payable, is insufficient to pay such Insurance Premiums, Borrowers shall deposit any deficiency with Administrative
Agent immediately upon demand. Administrative Agent shall pay such Insurance Premiums on or before the due date; provided the
amount on deposit with Administrative Agent is sufficient to pay such Insurance Premiums and Administrative Agent has
received a bill for such Insurance Premiums. On the earlier of the date on which all outstanding Events of Default have been
cured as determined by Administrative Agent in its sole discretion and the Maturity Date, the monies then remaining on
deposit with Administrative Agent under this Section 3.4 shall, at Administrative Agent’s option, be
applied against the Indebtedness or if no Event of Default exists hereunder, returned to Borrowers. Borrowers shall provide
Administrative Agent with proof of payment with respect to all of Borrowers’ insurance, in each case, not later than
five (5) Business Days prior to the stated due date therefor. If Borrowers fail to timely provide such proof of payment
during the Loan term, Administrative Agent, at its option, may require that Borrowers commence depositing Insurance Impounds
pursuant to this Section 3.4.

 

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Section
3.5           Real
Estate Tax Impounds. Borrowers shall not be required to deposit Tax Impounds in escrow with Administrative Agent
except as specifically set forth in this Section 3.5. Upon the occurrence and during the continuation of an Event
of Default, at the option of Administrative Agent, Borrowers shall deposit with Administrative Agent monthly on each
Payment Date, a sum of money (the “Tax Impound”) equal to one-twelfth (1/12th) of the
annual Taxes for the Projects other than Triple Net Projects for which Borrower has provided timely evidence of payment of
applicable Taxes. If so required under this Section 3.5, Borrowers shall deposit with Administrative Agent a sum
of money which together with the monthly installments will be sufficient to make each of such payments thirty (30) days prior
to the date any delinquency or penalty becomes due with respect to such payments. Deposits shall be made on the basis of
Administrative Agent’s reasonable estimate from time to time of the Taxes for the current year (after giving effect to
any reassessment or, at Administrative Agent’s election, on the basis of the Taxes for the prior year, with adjustments
when the Taxes are fixed for the then current year). All funds so deposited shall be held without interest in Administrative
Agent’s name or in the name of CONA as an Affiliate of Administrative Agent (in each case, on behalf of all Lenders),
and shall not be deemed to be held in trust for the benefit of Borrowers. All funds so deposited may be commingled with the
general funds of Administrative Agent including without limitation as follows: (i) with Administrative Agent’s own
funds at financial institutions selected by Administrative Agent in its reasonable discretion; or (ii) with
Administrative Agent’s funds at CONA to be held in a Subaccount designated for Administrative Agent for such purpose.
Borrowers hereby grant to Administrative Agent (for its benefit and the benefit of Lenders) a security interest in all funds
so deposited with Administrative Agent for the purpose of securing the Loan. While an Event of Default exists, the funds
deposited may be applied in payment of the charges for which such funds have been deposited, or to the payment of the Loan or
any other charges affecting the security of Administrative Agent, as Administrative Agent may elect, but no such application
shall be deemed to have been made by operation of law or otherwise until actually made by Administrative Agent. Upon the
reasonable request of Administrative Agent if the applicable tax monitoring services being utilized by Administrative Agent
fails to do so, Borrowers shall furnish Administrative Agent with bills for the Taxes for which such deposits are required at
least thirty (30) days prior to the date on which the Taxes first become payable. If at any time the amount on deposit
with Administrative Agent, together with amounts to be deposited by Borrowers before such Taxes are payable, is insufficient
to pay such Taxes, Borrowers shall deposit any deficiency with Administrative Agent immediately upon demand. Administrative
Agent shall pay such Taxes on or before the same are delinquent; provided the amount on deposit with Administrative Agent is
sufficient to pay such Taxes and Administrative Agent has received a bill for such Taxes. The obligation of Borrowers to pay
the Taxes, as set forth in the Loan Documents, is not affected or modified by the provision of this paragraph; provided, however,
that Borrowers shall not be in default under the Loan for failure to pay Taxes if and to the extent there are sufficient
funds on deposit in the Tax Impound to timely pay such Taxes. On the earlier of the date on which any outstanding Events of
Default have been cured as determined by Administrative Agent in its sole discretion and the Maturity Date, the monies then
remaining on deposit with Administrative Agent under this Section 3.5 shall, at Administrative Agent’s
option, be applied against the Indebtedness or if no Event of Default exists hereunder, returned to Borrowers. Upon the
reasonable request of Administrative Agent if the applicable tax monitoring services being utilized by Administrative Agent
fails to do so, Borrowers shall provide Administrative Agent with proof of payment with respect to all of Borrowers’
Taxes, in each case, not later than fifteen (15) Business Days prior to the date such Taxes become delinquent. If Borrowers
fail to provide such proof of payment within such time periods, Administrative Agent, at its option, may require that
Borrowers commence depositing Tax Impounds pursuant to this Section 3.5. Administrative Agent shall use
commercially reasonable efforts to engage a tax monitoring service to monitor tax bills for the Projects and provide
Administrative Agent with all information required by Administrative Agent regarding such tax bills and related tax payments.
Any and all tax monitoring services utilized by Administrative Agent to ensure Borrowers’ compliance with the foregoing
shall be reimbursed by Borrowers promptly upon demand.

 

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ARTICLE
4

LEASING MATTERS

 

Section 4.1          
Representations and Warranties on Leases. Borrowers represent and warrant to Administrative Agent and Lenders
with respect to the Leases that except as set forth on Schedule 4.1, (i) the rent roll delivered
to Administrative Agent with respect to such Leases is true and correct; (ii) such Leases are in full force and effect; (iii) the
Leases (including amendments) are in writing, and there are no oral agreements with respect thereto; (iv) the copies of the
Leases delivered to Administrative Agent are true and complete; (v) neither the landlord nor, to Borrower’s Knowledge,
any tenant is in default under any of the Leases; (vi) except as disclosed in estoppel certificates delivered by or on behalf
of any Tenant, Borrowers have no knowledge of any notice of termination or default with respect to any Lease; (vii) Borrowers
have not assigned or pledged any of the Leases, the rents or any interests therein except to Administrative Agent and Lenders;
(viii) except as set forth on Schedule 4.1, no Tenant or other party has an option to purchase all or
any portion of any Project; (ix) except as set forth in the Leases, no Tenant has the right to terminate its Lease prior to
expiration of the stated term of such Lease; and (x) except as set forth in any estoppel certificates delivered by or on behalf
of any Tenant, no Tenant has prepaid more than one month’s rent in advance (except for bona fide security deposits).

 

Section
4.2           Standard
Lease Form; Approval Rights. Except as otherwise provided herein, any Leases and other rental arrangements
entered into from the date hereof until the Obligations have been paid shall in all respects be reasonably approved by
Administrative Agent and shall be on a standard lease form reasonably approved by Administrative Agent. Such lease form
shall provide that (a) the lease is subordinate to the Mortgage, (b) the tenant shall attorn to Administrative
Agent, and (c) that any cancellation, surrender, or amendment of such lease without the prior written consent of
Administrative Agent shall be voidable by Administrative Agent. Borrowers shall hold all tenant security deposits in a
segregated account if required by applicable Requirements of Law. Within ten (10) days after Administrative Agent’s
request, Borrowers shall furnish to Administrative Agent a statement of all tenant security deposits, and copies of all
Leases not previously delivered to Administrative Agent, certified by Borrowers as being true and correct. Notwithstanding
anything contained in the Loan Documents to the contrary, Borrowers shall have the right to enter into Leases with third
parties without Administrative Agent’s consent provided (i) the economic terms of the Lease are generally, in
Borrowers’ reasonable discretion, market terms in the market in which the Individual Project is located, (ii) the
initial term is no longer than ten (10) years (excluding renewals, to the extent such renewal is an extension on
substantially the same terms as the existing Lease), and (iii) (A) for any Project containing 35,000 or fewer
rentable square feet, the leased premises is less than 7,000 rentable square feet and (B) for any Project containing
greater than 35,000 rentable square feet, the rent payable by the Tenant pursuant to such Lease during the first month in
which rent is not abated is no greater than twenty-five percent (25%) of the total revenue for such Individual Project
during such month, (iv) the Lease is in the form previously reasonably approved by Administrative Agent;
(v) intentionally omitted; (vi) the Lease and the tenant thereunder comply with the requirements of any applicable
Ground Lease; and (vii) if required under the terms of the Ground Lease, Lender shall have received evidence of written
approval of the Lease by Ground Lessor.

 

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Section 4.3          
Covenants. Borrowers shall use commercially reasonable efforts to (or cause Operators to) (i) perform
the obligations which lessor is required to perform under the Leases; (ii) enforce the obligations to be performed by the
Tenants under the Leases; (iii) except with respect to De Minimis Leases, promptly furnish to Administrative Agent any notice
of default or termination received by any Borrower from any Tenant under a Lease, and any notice of default or termination given
by any Borrower to any Tenant; (iv) not collect any rents for more than one month in advance of the time when the same shall
become due, except for bona fide Security Deposits disclosed to Administrative Agent in writing; (v) not enter into any ground
lease or master lease of any part of the Projects (other than the Ground Leases); (vi) not further assign or encumber any
Lease; (vii) not, except with Administrative Agent’s prior written consent (such consent not to be unreasonably withheld
or delayed), terminate or accept surrender or termination of any Lease (except with respect to De Minimis Leases); (viii) not,
except with Administrative Agent’s prior written consent (such consent not to be unreasonably withheld or delayed), modify
or amend any Lease (except with respect to (x) modification to the Lease that otherwise satisfied Sections 4.2(i)
through (vi) and continues to do so after giving effect to the modification, (y) De Minimis Leases, or (z) immaterial
modifications and amendments entered into in the ordinary course of business, consistent with prudent property management practices,
not affecting the economic terms of the Lease); and (ix) assign to Administrative Agent any letter of credit evidencing a
security deposit on such terms as may be required by Administrative Agent and shall deliver the original of such letter(s) of credit
to Administrative Agent (provided that, absent the occurrence and continuation of an Event of Default, Administrative Agent shall
make available to the applicable Borrower such letter of credit to be used and/or returned to the applicable tenant pursuant to
the terms of the applicable Lease). Any action in violation of clauses (v), (vi), (vii), and (viii) of this Section 4.3
shall be void at the election of Administrative Agent. Borrowers and Operators, as applicable, will not suffer or permit any breach
or default to occur in any of its obligations under any of the Leases, nor suffer or permit a Tenant to terminate a Lease or a
Lease to terminate by reason of any failure by it to meet any requirement of any Lease.

 

Section
4.4           Tenant
Estoppels. At Administrative Agent’s request, Borrowers shall, to the extent contemplated by the Lease or
Ground Lease, as applicable, use commercially reasonable efforts to obtain and furnish (or cause Operators to obtain and
furnish) to Administrative Agent, written estoppels, in each case, in form and substance reasonably satisfactory to
Administrative Agent, executed by Tenants under Leases in excess of 5,000 square feet of any Project and confirming the term,
rent, and other provisions and matters relating to such Leases that is reasonable and customary to address in such
estoppels.

 

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Section 4.5          
Deemed Approval. In the event that (a) any Borrower delivers to Administrative Agent a written request pursuant
to Section 11.1 for Administrative Agent’s approval of (i) a Lease or other leasing matter requiring Administrative
Agent consent under this Article 4 with respect to a matter, amendment or new Lease with comparable or superior economic terms
and conditions from the immediately preceding provision or Lease in the reasonable judgment of the Borrower Representative or (ii)
the termination of a Lease pursuant to the terms of such Lease due to the Tenant’s default thereunder provided such termination
is in the best interest of the applicable Borrower in the reasonable business judgment of the Borrower Representative, (b) Administrative
Agent has failed to respond to such request within ten (10) Business Days after Administrative Agent’s receipt of such request,
and (c) Borrower has delivered to Administrative Agent by such method a second copy of such request with such supporting documents
and information required above, then, if Administrative Agent has failed to respond to such second written request pursuant to
Section 11.1 within five (5) Business Days after Administrative Agent’s receipt of such second written request
and such supporting documents and information, such request shall be deemed approved; provided that each such request included
a legend prominently displayed at the top of the first page thereof in solid capital letters in bold face type of a font size not
less than fourteen (14) as follows: “WARNING: IF YOU FAIL TO RESPOND TO OR EXPRESSLY DENY THIS REQUEST FOR APPROVAL IN WRITING
WITHIN [TEN (10)/FIVE (5)] BUSINESS DAYS AFTER YOUR RECEIPT, YOU WILL BE DEEMED TO HAVE APPROVED THIS REQUEST.”

 

ARTICLE
5

REPRESENTATIONS AND WARRANTIES

 

Each Borrower represents,
warrants and covenants to Administrative Agent and Lenders that:

 

Section 5.1          
Organization, Power and Authority; Formation Documents.

 

(a)              
Organization, Etc. Each Borrower and each other Borrower Party is duly organized, validly existing and in
good standing under the laws of the state of its formation or existence and each Borrower is in compliance with all legal requirements
applicable to doing business in the state in which the Projects are located. No Borrower is a “foreign person” within
the meaning of §1445(f)(3) of the Code. Each Borrower and each other Borrower Party has only one state of incorporation or
organization which is set forth on Schedule 5.1. All other information regarding each Borrower and each
other Borrower Party contained in Schedule 5.1, including the ownership structure of Borrowers and their
constituent entities, is true and correct as of the Closing Date.

 

(b)               Formation
Documents. True and complete copies of the formation documents creating each Borrower and Guarantor together with all
current limited liability company agreements, and any and all amendments thereto (collectively, the
“Borrower Formation Documents”) have been furnished to Administrative Agent. The Borrower Formation
Documents constitute the entire agreement regarding each Borrower and Guarantor and are binding upon and enforceable against
each of the members of such Person in accordance with its terms. No breach exists under the Borrower Formation Documents and
no condition exists which, with the giving of notice or the passage of time, would constitute a breach under the Borrower
Formation Documents.

 

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Section 5.2          
Validity of Loan Documents. The execution, delivery and performance by each Borrower and each other Borrower
Party of the Loan Documents and the Environmental Indemnity Agreement: (a) are duly authorized and do not require the consent
or approval of any other party or Governmental Authority which has not been obtained; and (b) will not violate any law or
result in the imposition of any lien, charge or encumbrance upon the assets of any such party, except as contemplated by the Loan
Documents and/or the Environmental Indemnity Agreement. The Loan Documents and/or the Environmental Indemnity Agreement constitute
the legal, valid and binding obligations of each Borrower and each other Borrower Party who is a party to such Loan Documents and/or
the Environmental Indemnity Agreement, enforceable in accordance with their respective terms, subject to applicable bankruptcy,
insolvency, or similar laws generally affecting the enforcement of creditors’ rights.

 

Section 5.3          
Liabilities; Litigation.

 

(a)              
Financial Statements. The financial statements delivered to Administrative Agent by Borrowers and each other
Borrower Party hereunder are true and correct in all material respects as of the date of such financial statements. Except as disclosed
in such financial statements, there are no liabilities (fixed or contingent) affecting any Project, any Borrower or any other Borrower
Party. Except as disclosed in such financial statements, there is no litigation, administrative proceeding, investigation or other
legal action (including any proceeding under any state or federal bankruptcy or insolvency law) pending or, to Borrowers’
Knowledge, threatened, against any Individual Project, any Borrower or any other Borrower Party which if adversely determined could
have a Material Adverse Effect on such party, any Project or the Loan.

 

(b)              
Contemplated Actions. No Borrower Party intends to file a petition by it under state or federal bankruptcy
or insolvency laws or the liquidation of all or a major portion of its assets or property, and no Borrower Party has knowledge
of any Person contemplating the filing of any such petition against it.

 

Section 5.4          
Taxes and Assessments. There are no unpaid or outstanding Taxes or assessments on or against the Projects or
any part thereof, except general real estate taxes not yet due or payable. Except as disclosed on Schedule 5.4,
each Project is comprised of one or more tax parcels, and each such tax parcel constitutes a separate tax lot and none of which
constitutes a portion of any other tax lot. There are no pending or, to Borrowers’ Knowledge, proposed, special or other
assessments for public improvements or otherwise affecting any Project, nor are there any contemplated improvements to any Project
that may result in such special or other assessments.

 

Section
5.5           Other
Agreements Defaults. No Borrower, nor any other Borrower Party, is a party to any agreement or instrument
or subject to any court order, injunction, permit, or restriction which might adversely affect any Project or the business,
operations, or condition (financial or otherwise) of any Borrower Party. No Borrower Party is in violation of any
agreement which violation could reasonably be expected to have a Material Adverse Effect.

 

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Section 5.6          
Compliance with Laws. Each Borrower Party and, to each Borrower’s Knowledge, if applicable, the applicable
Property Manager has all requisite Permits necessary to own, lease and operate its Individual Project and carry on its business,
and, except as disclosed in the zoning reports or Property Condition Reports delivered to Administrative Agent prior to the Closing
Date, each Project is in compliance with all applicable Requirements of Law. To Borrower’s Knowledge, none of the Triple
Net Projects, nor any Borrower Party, nor any Triple Net Tenant, is in violation in any material respect of any Healthcare Laws
or the subject of any material Healthcare Investigation.

 

Section 5.7           Condemnation.
Except as set forth on Schedule 5.7, no condemnation has been commenced or, to Borrowers’ Knowledge,
is contemplated with respect to all or any portion of any Project or for the relocation of roadways providing access to any Project.

 

Section 5.8          
Access. Each Project has adequate rights of access to public ways and is served by adequate water, sewer, sanitary
sewer and storm drain facilities. All public utilities necessary or convenient to the full use and enjoyment of each Project are
located in the public right-of-way abutting the applicable Project, and all such utilities are connected so as to serve such Project
without passing over other property, except to the extent such other property is subject to a perpetual easement for such utility
benefiting each Project. All roads necessary for the full utilization of each Project for its current purpose have been completed
and dedicated to public use and accepted by all Governmental Authorities.

 

Section 5.9          
Location of Borrowers. Each Borrower’s principal place of business and chief executive offices is located
at the address stated in Schedule 5.9 and, except as otherwise set forth in Schedule 5.9,
each Borrower at all times has maintained its principal place of business and chief executive office at such location or at other
locations within the same state.

 

Section 5.10         
ERISA Employees.

 

(a)           
As of the Original Closing Date and throughout the term of the Loan, (i) no Borrower is nor will it be an “employee
benefit plan” as defined in Section 3(3) of ERISA, which is subject to Title I of ERISA, and (ii) the assets of
Borrowers do not and will not constitute “plan assets” of one or more such plans within the meaning of Section 3(42)
of ERISA.

 

(b)          
As of the Original Closing Date and throughout the term of the Loan (i) no Borrower is nor will it be a “governmental
plan” within the meaning of Section 3(3) of ERISA and (ii) assuming that the Loan will not be funded or held with
“plan assets” of any governmental plan and assuming that the counterparty to any such transaction is not a governmental
plan or an entity whose assets are deemed to be “plan assets” of any governmental plan, transactions by or with any
Borrower are not and will not be subject to state statutes applicable to any Borrower regulating investments of and fiduciary obligations
with respect to governmental plans.

 

(c)          
No Borrower has any employees.

 

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Section
5.11         Use
of Loan Proceeds. The proceeds of the Loan are intended
and will be used for agricultural, business or commercial purposes and are not intended and will not be used for personal, family
or household purposes.

 

Section 5.12        
Margin Stock. No part of proceeds of the Loan will be used for purchasing or acquiring any “margin stock”
within the meaning of Regulations T, U or X of the Board of Governors of the Federal Reserve System.

 

Section 5.13       
Forfeiture. There has not been committed by any Borrower nor to Borrower’s Knowledge has any Tenant, any
other person in occupancy of or involved with the operation or use of the Projects any act or omission affording the federal government
or any state or local government the right of forfeiture as against the Projects or any part thereof or any monies paid in performance
of Borrowers’ obligations under any of the Loan Documents or the Environmental Indemnity Agreement. Borrowers hereby covenant
and agree not to commit or permit to exist, to the extent within Borrowers’ control, any act or omission affording such right
of forfeiture.

 

Section 5.14        
Tax Filings. Each Borrower and each other Borrower Party has filed (or has obtained effective extensions for
filing) all federal, state and local tax returns required to be filed and has paid or made adequate provision for the payment of
all federal, state and local taxes, charges and assessments payable by each such Borrower and each other Borrower Party, respectively.
Each Borrower Party believes that its respective tax returns properly reflect the income and taxes of each such Borrower Party,
for the periods covered thereby, subject only to reasonable adjustments required by the Internal Revenue Service or other applicable
tax authority upon audit.

 

Section 5.15       
Solvency. After giving effect to the Loan, the fair saleable value of each Borrower’s assets (when considered
collectively) will, immediately following the making of the Loan, exceed such Borrower’s total liabilities (provided,
however, for purposes hereof, each Borrower’s joint liability hereunder as to portions of the Loan in excess of the
Allocated Loan Amount applicable to the Project owned by such Borrower is not considered), including subordinated, unliquidated,
disputed and contingent liabilities. No Borrower’s assets do and, immediately following the making of the Loan, will constitute
unreasonably small capital to carry out its business as conducted or as proposed to be conducted. No Borrower intends to incur
Debts and Liabilities (including contingent liabilities and other commitments) beyond its ability to pay such Debts as they mature
(taking into account the timing and amounts of cash to be received by such Borrower and the amounts to be payable on or in respect
of obligations of such Borrower). Except as expressly disclosed to Administrative Agent in writing, no petition in bankruptcy has
been filed against any Borrower Party, in the last seven (7) years, and no Borrower Party in the last seven (7) years has ever
made an assignment for the benefit of creditors or taken advantage of any insolvency act for the benefit of debtors. No Borrower
Party is contemplating either the filing of a petition by it under state or federal bankruptcy or insolvency laws or the liquidation
of all or a major portion of its assets or property, and no Borrower Party has knowledge of any Person contemplating the filing
of any such petition against it.

 

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Section 5.16        Full
and Accurate Disclosure; No Material Adverse Change.
No statement of fact made by or on behalf of any Borrower or any other Borrower Party in this Agreement, in any of the other Loan
Documents or the Environmental Indemnity Agreement contains any untrue statement of a material fact or omits to state any material
fact necessary to make statements contained herein or therein not misleading, nor has there been any material adverse change in
any condition, fact, circumstance or event that would make the financial statements, rent rolls, reports, certificates or other
documents submitted in connection with the Loan inaccurate, incomplete or otherwise misleading in any material respect as of the
date of such statements, rent rolls, reports, certificates or other documents. There is no fact presently known to any Borrower
Party which has not been disclosed to Administrative Agent which could reasonably be expected to have a Material Adverse Effect.
All information supplied by Borrowers or any Borrower Party regarding any Collateral is accurate and complete in all material
respects as of the date of such information. All evidence of each Borrower’s and each other Borrower Party’s identity
provided to Administrative Agent and Lenders is genuine, and all related information is accurate.

 

Section 5.17        
Flood Zone. Except as disclosed on the applicable survey delivered to Administrative Agent in connection
with the closing of the Loan, no portion of the improvements comprising any Project is located in an area identified by the Secretary
of Housing and Urban Development or any successor thereto as an area having special flood hazards pursuant to the National Federal
Flood Insurance Act of 1968, the Flood Disaster Protection Act of 1973 or the National Federal Flood Insurance Act of 1994, as
amended, or any successor law, or, if located within any such area, Borrowers have obtained and will maintain the insurance prescribed
in Section 3.1 hereof.

 

Section 5.18      
Single Purpose Entity/Separateness. Each Original Borrower, from and after the Original Closing Date,
and each Borrower, from and after the Closing Date, represents, warrants and covenants for so long as any obligation under the
Loan Documents remains outstanding, as follows:

 

(a)           
Limited Purpose. The sole purpose conducted or promoted by each Borrower is to engage in the following activities:

 

(i)             
to acquire, own, hold, lease, operate, manage, maintain, develop and improve the applicable Project (or an undivided interest
therein) and to contract for the operation, maintenance, management and development of the applicable Project;

 

(ii)             
to enter into and perform its obligations under the Loan Documents and Environmental Indemnity Agreement;

 

(iii)           
to sell, transfer, service, convey, dispose of, pledge, assign, borrow money against, finance, refinance or otherwise deal
with the applicable Project to the extent contemplated by or permitted under the Loan Documents; and

 

(iv)           
to engage in any lawful act or activity and to exercise any powers permitted to limited liability companies organized under
the laws of its jurisdiction of formation that are related or incidental to and necessary, convenient or advisable for the accomplishment
of the above-mentioned purposes.

 

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(b)          
Limitations on Debt, Actions. Notwithstanding anything to the contrary in the Loan Documents or in any other
document governing the formation, management or operation of each Borrower, each Borrower shall not:

 

(i)            
other than with respect to the pledge of its assets to secure the debt of the other Borrowers and the obligations of Guarantor
under a Secured Hedge Agreement, guarantee any obligation of any Person, including any Affiliate of Borrower, or become obligated
for the debts of any other Person or hold out its credit as being available to pay the obligations of any other Person;

 

(ii)            
engage, directly or indirectly, in any business other than as required or permitted to be performed under this Section 5.18;

 

(iii)           
incur, create or assume any Debt other than (A) the Loan; (B) unsecured trade payables incurred in the ordinary
course of its business that are related to the ownership and operation of the applicable Project;

 

(iv)           
make or permit to remain outstanding any loan or advance to, or own or acquire any stock or securities of, any Person, except
that Borrowers may invest in those investments permitted under the Loan Documents;

 

(v)            
to the fullest extent permitted by law, engage in any dissolution, liquidation, consolidation, merger, sale or other transfer
of any of its assets outside the ordinary course of each Borrower’s business or other than in accordance with the Loan Documents;

 

(vi)            
buy or hold evidence of indebtedness issued by any other Person (other than cash or investment-grade securities);

 

(vii)          
form, acquire or hold any subsidiary (whether corporate, partnership, limited liability company or other) or own any equity
interest in any other entity;

 

(viii)         
Except for ARHC FOMBGPA01, LLC which owns three Projects in Pennsylvania, own any asset or property other than the applicable
Project (or an undivided interest therein) and incidental personal property necessary for the ownership or operation of the applicable
Project; or

 

(ix)            
take any Material Action without the approval required under the applicable Borrower’s Formation Documents.

 

(c)          
Separateness Covenants. In order to maintain its status as a separate entity and to avoid any confusion or
potential consolidation with any Affiliate of any Borrower, each Borrower represents, warrants and covenants that in the conduct
of its operations since its organization it has observed, and covenants that it will continue to observe, the following covenants:

 

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(i)             
maintain books and records and bank accounts separate from those of any other Person;

 

(ii)             
maintain its assets in such a manner that it is not costly or difficult to segregate, identify or ascertain such assets
and shall not commingle its assets or funds with those of any other Person;

 

(iii)           
do all things reasonably necessary to observe organizational formalities necessary to maintain its separate existence;

 

(iv)           
hold itself out to creditors and the public as a legal entity separate and distinct from any other entity;

 

(v)            
maintain separate financial statements, showing its assets and liabilities separate and apart from those of any other Person
and not have its assets listed on any financial statement of any other Person; except that each Borrower’s assets may be
included in a consolidated financial statement of its Affiliate;

 

(vi)           
other than with respect to the consolidated tax return of its Affiliates, and other than with respect to a “disregarded
entity” (whose income is reported on the tax return of its owner), prepare and file its own tax returns separate from those
of any Person to the extent required by Requirements of Law, and pay any taxes required to be paid by Requirements of Law;

 

(vii)         
allocate and charge fairly and reasonably any common employee or overhead shared with Affiliates, constituents, or owners,
or any guarantors of any of their respective obligations, or any Affiliate of any of the foregoing, including, but not limited
to, paying for shared office space and for services performed by any employee of an Affiliate;

 

(viii)         
not enter into any transaction with any Person owned or controlled by an Affiliate of Borrowers except on an arm’s-length
basis on terms which are intrinsically fair and no less favorable than would be available for unaffiliated third parties, and pursuant
to written, enforceable agreements;

 

(ix)            
not commingle its assets or funds with those of any other Person other than as required or permitted by this Agreement;

 

(x)            
except as otherwise provided in this Agreement or in any other Loan Documents, not assume, guarantee or pay the debts or
obligations of any other Person other than with respect to the pledge of its assets to secure the debt of the other Borrowers;

 

(xi)           
correct any known misunderstanding as to its separate identity;

 

(xii)          
not permit any Affiliate of Borrowers to guarantee or pay its obligations (other than the co-Borrowers and the guarantees
and indemnities set forth in the Loan Documents and in the Environmental Indemnity Agreement);

 

(xiii)         
not make loans or advances to any other Person;

 

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(xiv)         
pay its liabilities and expenses out of and to the extent of its own funds so long as there is available cash flow from
the applicable Project and provided, however, that the foregoing shall not require any owners of any Borrower to make additional
capital contributions to any Borrower;

 

(xv)          
pay the salaries of its own employees, if any, only from its own funds;

 

(xvi)        
maintain adequate capital in light of its contemplated business purpose, transactions and liabilities (to the extent there
exists sufficient cash flow from the applicable Individual Property to do so); provided, however, that the foregoing
shall not require any equity owner to make additional capital contributions to any Borrower;

 

(xvii)        
cause the managers, officers, employees, agents and other representatives of each Borrower to act at all times with respect
to such Borrower consistently and in furtherance of the foregoing and in the best interests of such Borrower;

 

(xviii)       
except as expressly provided in the Loan Agreement or in the other Loan Documents, not have any obligation to, and will
not, indemnify its partners, officers, directors or members, as the case may be, unless such an obligation is fully subordinated
to the Indebtedness and will not constitute a claim against it in the event that cash flow in excess of the amount required to
pay the Indebtedness is insufficient to pay such obligation; and

 

(xix)         
except as otherwise provided in this Agreement or in any other Loan Documents, not pledge its assets for the benefit of
any other Person other than to Administrative Agent and Lenders in connection with the Loan.

 

Failure of any Borrower
to comply with any of the foregoing covenants or any other covenants contained in this Agreement shall not affect the status of
such Borrower as a separate legal entity.

 

(d)          
Independent Manager. So long as any obligation under the Loan Documents remains outstanding, at all times,
each Borrower shall have at least one Independent Manager. To the fullest extent permitted by law, the Independent Manager shall
consider only the interests of each Borrower and its creditors in acting or otherwise voting on Material Actions. No resignation
or removal of an Independent Manager, and no appointment of a successor Independent Manager, shall be effective until such successor
shall have accepted his or her appointment as an Independent Manager by a written instrument. In the event of a vacancy in the
position of Independent Manager, each Borrower shall, as soon as reasonably practicable, appoint a successor Independent Manager.

 

Section 5.19      
Compliance with International Trade Control Laws and OFAC Regulations. Each Borrower represents, warrants and
covenants to Administrative Agent and Lenders that:

 

(a)          
No Borrower Party and no Person who owns a direct interest in any Borrower is now nor shall be at any time until after
the Loan is fully repaid, a Person with whom a U.S. Person, including a Financial Institution, is prohibited from transacting
business of the type contemplated by this Agreement, whether such prohibition arises under U.S. law, regulation, executive orders
and lists published by the OFAC (including those executive orders and lists published by OFAC with respect to Specially Designated
Nationals and Blocked Persons) or otherwise.

 

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(b)              
Each Borrower Party and Person who owns a direct interest in any Borrower is now, and each Borrower will remain in compliance
(and will cause each other Borrower Party and Person who owns a direct interest in any Borrower to remain in compliance) in all
material respects with all U.S. economic sanctions laws, Executive Orders and implementing regulations as promulgated by OFAC and
all applicable Anti-Money Laundering Laws.

 

Section 5.20        
Borrowers’ Funds. Each Borrower represents, warrants and covenants to each Lender and Administrative Agent
that:

 

(a)          
It has taken, and shall continue to take until after the Loan is fully repaid, such measures as are required by law to verify
that the funds invested in each Borrower are derived (i) from transactions that do not violate U.S. law and, to the extent
such funds originate outside the United States, do not violate the laws of the jurisdiction in which they originated; and (ii) from
permissible sources under U.S. law and to the extent such funds originate outside the United States, under the laws of the jurisdiction
in which they originated.

 

(b)          
To each Borrower’s Knowledge, no Borrower Party, nor any Person who owns a direct interest in any Borrower, nor any
Person providing funds to any Borrower (excluding Administrative Agent, Lenders and public shareholders of REIT) (i) is under
investigation by any Governmental Authority for, or has been charged with, or convicted of, money laundering, drug trafficking,
terrorist related activities, any crimes which in the United States would be predicate crimes to money laundering, or any violation
of any Anti-Money Laundering Laws; (ii) has been assessed civil or criminal penalties under any Anti-Money Laundering Laws;
and (iii) has had any of its/his/her funds seized or forfeited in any action under any Anti-Money Laundering Laws.

 

(c)          
Borrowers shall make payments on the Loan using funds invested in Borrowers, rental payments or other ordinary course payments
received by Borrowers or insurance proceeds unless otherwise agreed to by Administrative Agent.

 

(d)          
To Borrowers’ Knowledge, prior to and as of the Original Closing Date and at all times during the term of the Loan,
all revenues arising from the Projects are and will be derived from lawful business activities of Tenants of the Projects or other
permissible sources under U.S. law. On the Maturity Date, Borrowers will take reasonable steps to verify that funds used to repay
the Loan in full (whether in connection with a refinancing, asset sale or otherwise) are from sources permissible under U.S. law
and to the extent such funds originate outside the United States, permissible under the laws of the jurisdiction in which they
originated.

 

(e)          
Each Borrower Party and Person who owns a direct interest in any Borrower is now, and each Borrower will remain in compliance
(and will cause each Borrower Party and Person who owns a direct interest in any Borrower to remain in compliance) with the Office
of Foreign Assets Control sanctions and regulations promulgated under the authority granted by the Trading with the Enemy Act
(“TWEA”), 50 U.S.C. App. Section 1 et seq. and the International Emergency Economic Powers
Act (“IEEPA”), 50 U.S.C. Section 1701 et seq., as the TWEA and the IEEPA may apply to such
Borrower’s activities;

 

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(f)           
Each Borrower Party and Person who owns a direct interest in any Borrower is now, and each Borrower will remain in compliance
(and will cause each Borrower Party and Person who owns a direct interest in any Borrower to remain in compliance) with (i) the
Patriot Act and all rules and regulations promulgated under the Patriot Act applicable to Borrowers and (ii) other federal
or state laws relating to “know your customer” and other anti-money laundering rules and regulations; and

 

(g)          
Each Borrower Party and Person who owns a direct interest in any Borrower (i) is not now, nor has ever been, under
investigation by any Governmental Authority for, nor has been charged with or convicted for a crime under, 18 U.S.C. Sections 1956
or 1957 or any predicate offense thereunder, or a violation of the Bank Secrecy Act; (ii) has never been assessed a civil
penalty under any Anti-Money Laundering Laws or predicate offenses thereunder; (iii) has not had any of its funds seized,
frozen or forfeited in any action relating to any Anti-Money Laundering Laws or predicate offenses thereunder; (iv) has taken
such steps and implemented such policies as are reasonably necessary to ensure that such party is not promoting, facilitating or
otherwise furthering, intentionally or unintentionally, the transfer, deposit or withdrawal of criminally derived property, or
of money or monetary instruments which are (or which such party suspects or has reason to believe are) the proceeds of any illegal
activity or which are intended to be used to promote or further any illegal activity; and (v) has taken such steps and implemented
such policies as are reasonably necessary to ensure that such party is in compliance with all laws and regulations applicable to
its business for the prevention of money laundering and with anti-terrorism laws and regulations, with respect both to the source
of funds from its investors and from its operations, and that such steps include the development and implementation of an anti-money
laundering compliance program within the meaning of Section 352 of the Patriot Act, to the extent any such party is required
to develop such a programs under the rules and regulations promulgated pursuant to Section 352 of the Patriot Act.

 

Section 5.21        
Management Agreements. A true, correct and complete copy of each Management Agreement, together with all amendments
thereto, has been delivered to Administrative Agent; and the Management Agreement and all amendments thereto are in full force
and effect as of the Closing Date.

 

Section 5.22       
Physical Condition. Except as specifically set forth in the Property Condition Reports, to each Borrower’s
Knowledge, (a) the Projects, including, without limitation, all buildings, improvements, parking facilities, sidewalks, storm
drainage systems, roofs, plumbing systems, HVAC systems, fire protection systems, electrical systems, equipment, elevators, exterior
sidings and doors, landscaping, irrigation systems and all structural components located thereon, are in good condition, order
and repair in all material respects; subject to ordinary wear and tear; and (b) there exists no structural or other material
defects or damages in the Projects. No Borrower has received written notice from any insurance company or bonding company of any
defects in any Project, or any part thereof, which would adversely affect the insurability of the same or cause the imposition
of extraordinary premiums or charges thereon or of any termination or threatened termination of any policy of insurance or bond.

 

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Section 5.23        
No Change in Facts or Circumstances; Disclosure. There has been no material adverse change in any condition,
fact, circumstance or event that would make the most recently delivered financial statements, rent rolls, reports, certificates
or other documents submitted in connection with the Loan inaccurate, incomplete or otherwise (when taken as a whole) misleading
in any material respect or that otherwise materially and adversely affects the business operations or the financial condition of
Borrowers or the Projects.

 

Section 5.24        
Ground Leases.

 

(a)          
Recording; Modification. A memorandum of each Ground Lease has been duly recorded. After giving effect to the ground
lease estoppel delivered by the applicable Ground Lessor in connection with the closing of the Loan, each Ground Lease permits
the interests of Borrowers to be encumbered by the Mortgage. True and correct copies of the Ground Leases have been provided to
Administrative Agent and except as previously provided to Administrative Agent, there have not been amendments or modifications
to the terms of any Ground Lease. After giving effect to the ground lease estoppel delivered by the applicable Ground Lessor in
connection with the closing of the Loan, no Ground Lease may be canceled, terminated, surrendered or amended without the prior
written consent of Administrative Agent.

 

(b)          
No Liens. Except for the Permitted Exceptions, no Borrower’s interest in any Ground Lease is subject to any
Liens or encumbrances superior to, or of equal priority with, the applicable Mortgage other than the ground lessor’s related
fee interest.

 

(c)          
Ground Leases Assignable. Except as set forth in the Ground Leases, Borrowers’ interests in each Ground Lease
are assignable to Administrative Agent on behalf of Lenders upon notice to, but without the consent of, the ground lessor (or,
if any such consent is required, it has been obtained prior to the date hereof). Except as set forth in the Ground Leases, each
Ground Lease is further assignable by Administrative Agent, its successors and assigns without the consent of the ground lessor.

 

(d)          
Default. As of the Closing Date, each Ground Lease is in full force and effect and no default has occurred under
any Ground Lease and, to Borrower’s Knowledge, there is no existing condition which, but for the passage of time or the giving
of notice or both, could result in a default under the terms of any Ground Lease.

 

(e)          
Notice. Each Ground Lease (as modified by the applicable Ground Lease Estoppel Certificate provided by the landlord
thereunder) requires the ground lessor to give notice of any default by Borrowers to Administrative Agent. Each Ground Lease, or
the applicable Ground Lease Estoppel Certificate, further provides that notice of termination given under such Ground Lease is
not effective against Administrative Agent unless a copy of the notice has been delivered to Administrative Agent in the manner
described in such Ground Lease.

 

(f)           
Cure. After giving effect to the ground lease estoppel delivered by the Ground Lessor in connection with the closing
of the Loan, Administrative Agent is permitted the opportunity to cure any default by the applicable Borrower under such Ground
Lease before the ground lessor thereunder may terminate such Ground Lease.

 

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(g)          
Term. Except for the Ground Lease with ARHC MVMVNWA01, LLC that if not renewed expires on October 31, 2046, each
Ground Lease has a term which extends at least thirty-five years past the Closing Date.

 

(h)          
New Lease. After giving effect to the ground lease estoppel delivered by the Ground Lessor in connection with the
closing of the Loan, each Ground Lease requires the ground lessor to enter into a new lease with Administrative Agent upon termination
of such Ground Lease for any reason, including rejection of such Ground Lease in a bankruptcy proceeding.

 

(i)            
Subleasing. Except as set forth in the Ground Leases, no Ground Lease imposes any restrictions on subleasing.

 

ARTICLE
6

FINANCIAL REPORTING

 

Section 6.1          
Financial Statements. Borrowers shall furnish to Administrative Agent and shall cause each other Borrower Party
to furnish to Administrative Agent such financial statements and other financial information as required pursuant to this Article 6
and such other financial information as Administrative Agent may reasonably request from time to time. All such financial statements
shall accurately and fairly present the results of operations and the financial condition of Borrowers and their subsidiaries on
a consolidated basis at the dates and for the period indicated, shall be in scope and detail reasonably satisfactory to Administrative
Agent and shall be otherwise sufficient to permit Administrative Agent and Lenders to calculate or verify Borrowers’ compliance
with the financial covenants in Section 7.13. All financial statements shall be delivered in Excel format.

 

(a)           
Financial Information. In furtherance of the foregoing, Borrowers will furnish to Administrative Agent (or
cause to be furnished to Administrative Agent) the following financial information and reports with respect to each Borrower Party
and/or each Project, in each case in form and format and providing information reasonably satisfactory to Administrative Agent
in its reasonable discretion:

 

(i)             
[Reserved];

 

(ii)            
within fifty (50) days after the end of each calendar quarter, (A) a detailed operating statement (showing quarterly
activity and year-to-date) stating operating revenues, operating expenses and operating income, income statement, and balance sheet
for the calendar quarter just ended and year-to-date for each Project, and (B) a current rent roll;

 

(iii)           
[Reserved];

 

(iv)          
within sixty (60) days after the end of each fiscal year, internally prepared annual financial statements prepared for
each Borrower in accordance with GAAP (except for the absence of footnotes and year-end adjustments) and based on an accrual basis
of accounting consistent with industry standards;

 

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(v)            
within ninety-five (95) days after the end of each fiscal year, annual consolidated audited financial statements prepared
for Borrowers, each Guarantor and REIT in accordance with GAAP and prepared by a firm of independent public accountants reasonably
satisfactory to Administrative Agent, it being acknowledged by Administrative Agent that any of KPMG US LLP, Ernst & Young
LLP, PricewaterhouseCoopers LLP and Deloitte LLP shall each be deemed satisfactory; provided, however, Administrative Agent and
Lenders agree that the REIT’s publicly available 10K for such period shall be sufficient for the purpose of this Section
6.1(a)(v);

 

(vi)           
financial statements provided to any Borrower Party by any Tenant under any Triple Net Project;

 

(vii)          
 within fifty (50) days after the end of each calendar quarter, internally prepared quarterly financial statements (including
income statements and balance sheets) prepared for Borrowers and each Guarantor which fairly present the financial condition for
Borrowers and each Guarantor for such period;

 

(viii)          during
any Excess Cash Flow Period, within the period set forth in Section 7.13(b)(ii), the Cash Flow Requirements in accordance
with in Section 7.13(b)(ii); and

 

(viii)         
such additional information, reports or statements regarding Borrowers, the Projects and each Guarantor as Administrative
Agent may from time to time reasonably request.

 

All property related financial statements
will contain the requested information on a Project by Project basis, as well as a consolidated basis.

 

(b)         
Certification of Financial Statements. Each financial statement provided hereunder shall be certified by the
chief financial representative of Borrowers. Borrowers will maintain a system of accounting established and administered in accordance
with sound business practices to (i) permit preparation of financial statements on an accrual basis consistent with industry
standards and substantially in accordance with GAAP, and (ii) provide the information required to be delivered to Administrative
Agent hereunder.

 

(c)           
Additional Reports. Borrowers shall deliver to Administrative Agent the following additional reports:

 

(i)             
from time to time, if any Lender determines that obtaining appraisals is necessary in order for such Lender to comply with
applicable Requirements of Law (including any appraisals required to comply with FIRREA), Borrowers shall furnish to Administrative
Agent appraisal reports in form and substance and from appraisers reasonably satisfactory to Administrative Agent stating the
then current fair market value of each Project; provided, however, that such report shall not be required more frequently than
once during the term of the Loan unless (A) an Event of Default exists or (B) any Lender is required to obtain such
report under Requirements of Law more frequently than once during the term of the Loan;

 

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(ii)            
within thirty (30) days following the request of Administrative Agent, a description of the type and amount of all capital
expenditures at the Projects during the prior calendar year;

 

(iii)           
within thirty (30) days following the request by Administrative Agent, evidence satisfactory to Administrative Agent that
all federal and state taxes, including, without limitation, payroll taxes, that are due have been paid in full by each Borrower,
and each other Borrower Party, to be delivered to Administrative Agent (A) with respect to federal and state taxes (other
than payroll taxes), within ten (10) days after the required filing date of the applicable tax return and (B) with respect
to payroll taxes, within thirty (30) days following the end of each calendar quarter;

 

(iv)           
to the extent requested by Administrative Agent, copies of the regular monthly bank statements of Borrowers; and

 

(v)            
to the extent required pursuant to the terms of any Lease, and if reasonably requested by Administrative Agent, promptly
upon receipt thereof, financial statements (including income statements and balance sheets) prepared for any Tenant and provided
to Borrowers.

 

Section 6.2          
Compliance Certificate. Within fifty (50) days after the end of each calendar quarter, Borrowers shall deliver
and shall cause Guarantor to deliver such financial reports and information as Administrative Agent shall reasonably require evidencing
compliance with the applicable financial covenants as set forth herein and in the Guaranty, together with a fully completed Compliance
Certificate executed by an officer of Borrowers (or of their managing member or general partner), and, if requested by Administrative
Agent, back-up documentation as Administrative Agent shall reasonably require evidencing such compliance.

 

Section 6.3          
Accounting Principles. All financial statements shall be prepared in accordance with GAAP (or such other accounting
basis reasonably acceptable to Administrative Agent). Notwithstanding the foregoing, all financial statements delivered hereunder
shall be prepared, and all financial covenants contained herein shall be calculated, without giving effect to any election under
Statement of Financial Accounting Standards 159 (or any similar accounting principle) permitting a Person to value its financial
liabilities at the fair value thereof.

 

Section 6.4           
Access. Borrowers shall permit Administrative Agent and any Lender to examine such records, books and papers
of Borrowers which reflect upon its financial condition and the income and expenses of the Projects. In the event that Borrowers
fail to timely forward the financial statements required by Section 6.1 and such failure continues for thirty (30)
days after written notice of such failure, Administrative Agent shall have the right to audit such records, books and papers at
Borrowers’ expense.

 

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Section 6.5          
Annual Budget. Not later than January 31 of each calendar year, Borrowers will provide to Administrative
Agent Borrowers’ proposed annual operating and capital improvements budget for the Projects (the “Annual Budget”)
for such calendar year. Until the occurrence of an Excess Cash Flow Trigger Event, the Annual Budget shall be provided to Administrative
Agent for informational purposes, and during an Excess Cash Flow Period, the Annual Budget shall be subject to Administrative
Agent’s written approval, which approval shall not be unreasonably withheld (each Annual Budget so approved in writing,
the “Approved Annual Budget”). Within thirty (30) days after the commencement of any Excess Cash Flow
Period, Borrowers shall submit to Administrative Agent the Annual Budget for the remainder of the calendar year which shall be
subject to Administrative Agent’s written approval, which approval shall not be unreasonably withheld. Administrative Agent
shall endeavor to approve any proposed Annual Budget within thirty (30) days following receipt of such proposed Annual Budget
(or advise Borrowers with reasonable specificity as to any objections thereto). During an Excess Cash Flow Period, the Annual
Budget shall not take effect until reasonably approved by Administrative Agent. Until such time that Administrative Agent approves
an Annual Budget, the most recent Approved Annual Budget shall apply (or if there is no prior Approved Annual Budget, the most
recent Annual Budget shall apply until an Approved Annual Budget is in place); provided, however, that the most
recent Annual Budget shall automatically be adjusted to reflect actual increases in Non-Discretionary Expenses in an amount in
the aggregate not to exceed five percent (5%) of the outstanding principal amount of the Loan and, without duplication, three
percent (3%) increases in all other expense and scheduled revenue line items. As soon as practicable (and in any event, promptly
after any payment), such Borrower Party shall notify Administrative Agent in writing of the intention to pay (or the payment of,
as applicable) any Non-Discretionary Expenses and provide such additional information as Administrative Agent shall reasonably
request. During an Excess Cash Flow Period, Borrowers shall operate the Projects in accordance with and subject to the terms of
the Approved Annual Budget until the expiration of the Excess Cash Flow Period.

 

Section 6.6          
Books and Records/Audits. Borrowers shall keep and maintain or cause to be kept and maintained at all times at
the Projects, or such other place as Administrative Agent may reasonably approve in writing, complete and accurate books of accounts
and records adequate to reflect the results of the operation of the Projects and to provide the financial statements required to
be provided to Administrative Agent pursuant to Section 6.1 above and copies of all written contracts, material correspondence,
and other material documents affecting the Projects. Administrative Agent and its designated agents shall have the right to inspect
and copy any of the foregoing. Additionally, if an Event of Default exists or if Administrative Agent or any Lender has a reasonable
basis to believe that Borrowers’ records are materially inaccurate, Administrative Agent and each Lender may conduct a joint
audit and determine, in such Person’s reasonable discretion, the accuracy of Borrowers’ records and computations, such
audit to be at Borrowers’ expense.

 

Section 6.7          
Borrower Representative.

 

(a)           
Each of the entities comprising Borrowers hereby irrevocably appoints and constitutes ARHC AHHFDCA01, LLC as its agent (“Borrower
Representative”) to act on behalf of each such entity pursuant to this Agreement and the other Loan Documents in
the name or on behalf of each such Borrower. Administrative Agent may disburse proceeds of the Loan to the bank account of any
one or more of such entities without notice to any of the other entities comprising Borrowers or any other Person at any time obligated
on or in respect of the Obligations.

 

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(b)          
Each of the entities comprising Borrowers hereby irrevocably appoints and constitutes Borrower Representative as its agent
to give or receive statements of account and all other notices from or to Administrative Agent with respect to the Obligations
or otherwise under or in connection with this Agreement and the other Loan Documents.

 

(c)          
No purported termination of the appointment of Borrower Representative as agent for Borrowers shall be effective without
the prior written consent of Administrative Agent.

 

ARTICLE
7

COVENANTS

 

Each Borrower covenants
and agrees with each Lender and Administrative Agent as follows:

 

Section 7.1           
Transfers or Encumbrance of Property.

 

(a)           
No Borrower shall cause or permit a Transfer of its fee or leasehold interest (as applicable) in any Project or any part
thereof or any legal or beneficial interest therein nor permit a Transfer of an interest in any Borrower Party (in each case, a
“Prohibited Transfer”) without the prior written consent of Administrative Agent and Required Lenders,
other than pursuant to Leases of space in the improvements to Tenants (or other occupants as applicable) in accordance with the
provisions of Article 4 or other than a Partial Release in accordance with Section 2.18 hereof; provided,
however, that involuntary liens being contested pursuant to Section 11.14, and the Permitted Exceptions (such
liens together with the Permitted Exceptions, collectively, the “Permitted Encumbrances”) shall not constitute
Prohibited Transfers hereunder.

 

(b)          
A Prohibited Transfer shall include, but not be limited to, (i) an installment sale agreement wherein any Borrower
agrees to sell its Project or any part thereof for a price to be paid in installments; (ii) an agreement by any Borrower leasing
all or a substantial part of its Project for other than actual occupancy by a space tenant thereunder or a sale, assignment or
other transfer of, or the grant of a security interest in, any Borrower’s right, title and interest in and to any Leases
or any rents; (iii) if a Borrower Party is a corporation, any merger, consolidation or Transfer of such corporation’s
stock or the creation or issuance of new stock in one or a series of transactions; (iv) if a Borrower Party is a limited or
general partnership or joint venture, any merger or consolidation or the change, removal, resignation or addition of a general
partner or the Transfer of the partnership interest of any general or limited partner or any profits or proceeds relating to such
partnership interests (but not including distributions or dividends) or the creation or issuance of new partnership interests;
(v) if a Borrower Party is a limited liability company, any merger or consolidation or the change, removal, resignation or
addition of a managing member or non-member manager (or if no managing member, any member) or the Transfer of the membership interest
of any member; (vi) if a Borrower Party is a trust or nominee trust, any merger, consolidation or the Transfer of the legal
or beneficial interest in a Borrower Party or the creation or issuance of new legal or beneficial interests; or (vii) a Transfer
which results in an event of default under a Ground Lease.

 

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(c)           
Notwithstanding anything to the contrary contained in this Agreement, including, without limitation, Sections 7.1(a)
and (b) above, or the other Loan Documents and provided it would not result in a default beyond applicable notice and
cure periods under the Ground Leases, (i) any Transfer that does not result in a Change of Control shall not be deemed to
be a Prohibited Transfer, and (ii) any Permitted Transfer shall not be deemed to be a Prohibited Transfer and, in the case
of clauses (b) and (c) of the definition of Permitted Transfer only, shall not be deemed to result in a Change of Control; provided,
further, (A) Borrower shall give Lender thirty (30) days’ prior written notice of such Transfer pursuant to
clause (a) of the definition of Permitted Transfer or, with respect to clause (c) of the definition of
Permitted Transfer, as soon as practicable, and (B) in any event, Administrative Agent shall have received KYC searches with
respect to any Person that will, as a result of the Transfer, own twenty (20%) or more of the direct or indirect legal or beneficial
ownership interests in Borrowers, with results reasonably acceptable to Administrative Agent. All expenses, if any, incurred by
Administrative Agent and Lenders in connection with a Permitted Transfer or a request for a consent to a Prohibited Transfer,
whether or not the Required Lenders consent to the Prohibited Transfer, shall be payable by Borrowers. Neither Administrative
Agent nor any Lender shall be required to demonstrate any actual impairment of its security or any increased risk of default hereunder
in order to declare the Indebtedness immediately due and payable upon a Prohibited Transfer made without Required Lenders’
consent. This provision shall apply to each and every Prohibited Transfer, whether or not the Required Lenders have consented
to any previous Prohibited Transfer.

 

Section 7.2           
Taxes and Utility Charges. Except to the extent sums sufficient to pay all Taxes (defined herein) have been previously
deposited with Administrative Agent as part of the Tax Impound and subject to Borrowers’ right to contest in accordance with
Section 11.14 hereof, Borrowers shall pay before any fine, penalty, interest or cost may be added thereto, and shall
not enter into any agreement to defer, any real estate taxes and assessments, franchise taxes and charges, and other similar governmental
charges or other Taxes of any kind assessed against a Project or a Borrower that may become a Lien upon the Projects or become
payable during the term of the Loan. Borrowers’ compliance with Section 3.5 of this Agreement relating to impounds
for Taxes shall, with respect to payment of such Taxes, be deemed compliance with this Section 7.2. Except as set forth
on Schedule 7.2 attached hereto, Borrowers shall not suffer or permit the joint assessment of any Project
with any other real property constituting a separate tax lot or with any other real or personal property. Borrowers shall promptly
pay for all common area utility services provided to the Projects.

 

Section 7.3           
Management.

 

(a)          
Borrowers acknowledge that Lenders are making the Loan, in part, based upon the operational expertise of the Property Managers.
Except as expressly permitted by the terms of and/or contemplated in the Management Agreement approved or deemed approved by Administrative
Agent pursuant hereto, Borrowers shall not (i) surrender, terminate, cancel, modify or amend in any material respect, any
Management Agreement (provided that (x) termination of a Management Agreement upon a default by the Property Manager thereunder
or (y) expiration of the term of any such Management Agreement in accordance with the terms thereof shall constitute a prohibited
surrender or termination unless the applicable Borrowers enters into a replacement Management Agreement with a Pre-Approved Manager
or other Property Manager reasonably approved by Administrative Agent on or prior to such expiration or within ten (10) Business
Days (or such longer period as reasonably approved by Administrative Agent) of such termination), (ii) except for listing
agreements and new property management agreements with a Pre-Approved Manager or other Property Manager reasonably approved by
Administrative Agent, enter into any other agreement relating to the management or operation of any Project with Property Manager
or any other Person, or (iii) consent to the assignment by the Property Manager of its interest under any Management Agreement,
in each case without the express written consent of Administrative Agent, which consent shall not be unreasonably withheld, conditioned
or delayed and shall be based upon Administrative Agent’s reasonable evaluation of the proposed substitute manager’s
experience in operating and managing properties similar to the applicable Individual Projects. Any new property manager and Borrowers
shall, as a condition to the effectiveness of such Property Management Agreement, execute and deliver to Administrative Agent
an Acknowledgment and Agreement of Property Management Agreement in form and substance consistence with such agreements executed
in connection with the closing of the Loan or otherwise reasonably satisfactory to Administrative Agent. Each Property Manager
shall hold and maintain all necessary licenses, certifications and permits required by Requirements of Law to operate and manage
the Projects for which it is providing management services. Borrowers’ written requests to Administrative Agent contemplated
in this Section 7.3 shall be deemed approved upon the satisfaction of the conditions set forth in Section 4.5;
provided, however, such deemed approval shall be limited to the matters set forth above to the extent such proposals
have comparable or superior economic terms and conditions from the immediately preceding provisions in the applicable Management
Agreement or equivalent or superior experience and reputation compared to the applicable Property Manager in the reasonable judgment
of the Borrower Representative.

 

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(b)          
Borrowers shall cause each Property Manager to manage the Projects in accordance with the applicable Management Agreement.
Borrowers shall (i) diligently perform and observe all of the terms, covenants and conditions of the applicable Management
Agreement on the part of Borrowers to be performed and observed, (ii) promptly notify Administrative Agent of any notice received
by Borrowers of any default by any Borrower in the performance or observance of any of the material terms, covenants or conditions
of the applicable Management Agreement on the part of such Borrower to be performed and observed, and (iii) promptly deliver
to Administrative Agent a copy of each financial statement, business plan, and capital expenditures plan received by it under the
applicable Management Agreement with respect to any Triple Net Project (or such other Project upon Administrative Agent’s
reasonable request therefor). Without the prior written consent of Administrative Agent, the management fee payable under any Management
Agreement shall not exceed five percent (5%) of rental collections with respect to the Projects.

 

(c)          
Administrative Agent shall have the right to require Borrowers to replace the Property Manager with a Person which is not
an Affiliate of, but is chosen by, Borrowers and approved by Administrative Agent, such approval not to be unreasonably withheld
or delayed, upon the occurrence of any one or more of the following events: (i) at any time following the occurrence and continuance
of an Event of Default, and/or (ii) if Property Manager has engaged in gross negligence, fraud or willful misconduct or if
at any time the Property Manager is insolvent or a debtor in a bankruptcy proceeding.

 

Section 7.4          
Operation; Maintenance; Inspection. Borrowers shall observe and comply with all legal requirements applicable
to the ownership, use and operation of the Projects. Borrowers shall maintain the Projects in good condition and promptly repair
any damage or casualty, normal wear and tear excepted. Borrowers shall permit Administrative Agent, Lenders and their agents,
representatives and employees, upon reasonable prior notice to Borrowers, to inspect the Projects and conduct such environmental
and engineering studies as Administrative Agent may require, provided such inspections and studies do not materially interfere
with the use and operation of the Projects.

 

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Section 7.5          
Taxes on Security. Borrowers shall pay all taxes, charges, filing, registration and recording fees, excises and
levies payable with respect to the Note or the Liens created or secured by the Loan Documents, other than income, franchise and
doing business taxes imposed on Administrative Agent or any Lender. If there shall be enacted any law (a) deducting the Loan
from the value of any Project for the purpose of taxation, (b) affecting any Lien on the Projects, or (c) changing existing
laws of taxation of mortgages, deeds of trust, security deeds, or debts secured by real property, or changing the manner of collecting
any such taxes, Borrowers shall promptly pay to Administrative Agent, on demand, all taxes, costs and charges for which Administrative
Agent or any Lender is actually liable as a result thereof; however, if such payment would be prohibited by law or would render
the Loan usurious, then instead of collecting such payment, Administrative Agent may declare all amounts owing under the Loan Documents
to be due and payable within ninety (90) days following receipt of such notice by Borrowers without payment of any Prepayment Premium.

 

Section 7.6          
Legal Existence, Name, Etc. Each Borrower shall: (i) preserve and keep in full force and effect its existence
as, and at all times operate as, a Single Purpose Entity, and (ii) shall preserve and keep in full force and effect its entity
status, franchises, rights and privileges under the laws of the state of its formation, and all qualifications, licenses and permits
applicable to and required for the ownership, use and operation of the Projects. Neither any Borrower nor, except as expressly
permitted by this Agreement, any general partner, manager or managing member of any Borrower shall wind up, liquidate, dissolve,
reorganize, merge, or consolidate with or into any Person, or permit any subsidiary of any Borrower to do so. Without limiting
the foregoing, no Borrower shall reincorporate or reorganize itself under the laws of any jurisdiction other than the jurisdiction
in which it is incorporated or organized as of the Closing Date. Each Borrower and each general partner, manager or managing member
in each Borrower shall conduct business only in its own name and shall not change its name, identity, state of formation, or organization
type, or the County in which its chief executive office or principal place of business unless such Borrower (a) shall have
obtained the prior written consent of Administrative Agent to such change and (b) shall have taken all actions necessary or
requested by Administrative Agent to file or amend any financing statement or continuation statement to assure perfection and continuation
of perfection of security interests under the Loan Documents.

 

Section 7.7          
Further Assurances. Each Borrower shall promptly (a) cure any defects in the execution and delivery of
the Loan Documents and the Environmental Indemnity Agreement, (b) provide, and cause each other Borrower Party to provide,
Administrative Agent such additional information and documentation on each Borrower’s and each other Borrower Party’s
legal or beneficial ownership, policies, procedures, and sources of funds as Administrative Agent deems necessary or prudent to
enable Administrative Agent and each Lender to comply with Anti-Money Laundering Laws as now in existence or hereafter amended,
and (c) execute and deliver, or cause to be executed and delivered, all such other documents, agreements and instruments
as Administrative Agent may reasonably request to further evidence and more fully describe the Collateral for the Loan, to correct
any omissions in the Loan Documents or the Environmental Indemnity Agreement to perfect, protect or preserve any liens created
under any of the Loan Documents and the Environmental Indemnity Agreement, or to make any recordings, file any notices, or obtain
any consents, as may be necessary or appropriate in connection therewith. Each Borrower grants Administrative Agent an irrevocable
power of attorney coupled with an interest for the purpose of perfecting any security interest in and to the Collateral for the
Loan. Each Borrower grants Administrative Agent an irrevocable power of attorney coupled with an interest for the purpose of exercising
any and all rights and remedies available to Administrative Agent and Lenders under the Loan Documents and the Environmental Indemnity
Agreement, at law and in equity, including without limitation such rights and remedies available to Administrative Agent pursuant
to this Section 7.7; provided that Administrative Agent shall have no right to exercise such power of attorney unless
there shall be a continuing Event of Default under this Agreement. From time to time upon the reasonable written request of Administrative
Agent, Borrowers shall deliver to Administrative Agent a schedule of the name, legal domicile address and jurisdiction of organization,
if applicable, for each Borrower Party and each holder of a legal interest in Borrowers.

 

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Section 7.8          
Estoppel Certificates Regarding Loan. Borrowers, within ten (10) Business Days after request, shall furnish to
Administrative Agent a written statement, duly acknowledged, setting forth the amount due on the Loan, the terms of payment of
the Loan, the date to which interest has been paid, whether any offsets or defenses exist against the Loan and, if any are alleged
to exist, the nature thereof in detail, and such other matters as Administrative Agent reasonably may request.

 

Section 7.9          
Notice of Certain Events. Borrowers shall promptly notify Administrative Agent of any written notice received
by Borrowers with respect to (a) violations of any laws, regulations, codes or ordinances which, in each case, could be expected
to have a Material Adverse Effect; (b) any threatened or pending legal, judicial or regulatory proceedings, including any
dispute between Borrowers and any Governmental Authority; (c) a copy of each notice of default or termination given or made
to any Operator or any Triple Net Tenant by Borrowers or received by Borrowers from any Operator or any Triple Net Tenant; (d) [reserved];
(e) any notice of a material Healthcare Investigation with respect to any Triple Net Project; and (f) any threatened
or pending legal, judicial or regulatory proceedings pertaining to a material Healthcare Investigation with respect to any Triple
Net Project; and in the case of clauses (a), (b), (c), (d), (e) or (f), promptly provide Administrative Agent with copies of such
notices referred to therein.

 

Section 7.10       
Payment for Labor and Materials. Subject to Borrowers’ right to contest in accordance with Section 11.14
hereof, Borrowers will promptly pay or cause to be paid when due all bills and costs for labor, materials, and specifically
fabricated materials incurred by Borrower in connection with Borrower’s fee or leasehold interest in the Projects and never
permit to exist beyond the due date thereof in respect of Borrowers’ fee or leasehold interest in any such Project, any
Lien, even though inferior to the Liens hereof, and in any event never permit to be created or exist in respect of Borrowers’
fee or leasehold interest in any such Project or any part thereof any other or additional Lien other than the Liens hereof and
except for the Permitted Exceptions; provided that nothing herein shall limit any Borrower’s obligations under this Agreement
to enforce the terms and conditions of the Leases.

 

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Section 7.11        
Use and Proceeds, Revenues. Borrowers shall use the proceeds of the Loan for business purposes. No portion of
the proceeds of the Loan shall be used by Borrowers in any manner that might cause the borrowing or the application of such proceeds
to violate Regulation D, Regulation T or Regulation X or any other regulation of the Board of Governors of the Federal
Reserve System or to violate the Securities Act of 1933 or the Securities Exchange Act of 1934. No portion of the Loan will be
funded or held with “plan assets” within the meaning of Section 3(42) of ERISA if it would result in a non-exempt
prohibited transaction under Section 406 of ERISA or Section 4975 of the Code.

 

Section 7.12        
Compliance with Laws and Contractual Obligations.

 

(a)           
Borrowers will comply with and will cause Operators to comply with the Requirements of Law as are now in effect and which
may be imposed upon Borrowers or Operators or the maintenance, use or operation of the Projects or the provision of services to
the occupants of the Projects and the obligations, covenants and conditions contained in all other material contractual obligations
of Borrowers, and as they relate to the Projects. Without limitation of the foregoing, each Borrower shall cooperate with Administrative
Agent in connection with compliance with laws governing the National Federal Flood Insurance Program, including by providing any
information reasonably required by Administrative Agent in order to confirm compliance with such laws.

 

(b)          
Borrowers will obtain and maintain and will cause Operators to obtain and maintain, all licenses, qualifications and permits
now held or hereafter required to be held by Borrowers or Operators for which the loss, suspension, revocation or failure to obtain
or renew, could reasonably be expected to have a Material Adverse Effect.

 

Section 7.13        
Operating and Financial Covenants.

 

(a)           
The Borrowers shall maintain, on a consolidated basis, as of each Test Date, a Debt Yield Covenant Threshold in an amount
equal to or greater than the percentage specified for each Test Date set forth below:

 

	Period	 	Minimum Debt Yield ECF Threshold	 	 	Minimum Debt Yield Covenant 

Threshold	 
	Closing Date through and including December 20, 2024	 	 	7.5	%	 	 	7.0	%
	December 20, 2024 and thereafter	 	 	7.75	%	 	 	7.25	%

 

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(b)          
Special Provisions Relating to Debt Yield.

 

(i)             
If a Resize Event exists on any Test Date, Administrative Agent shall deliver notice thereof to Borrowers of any applicable
Resize Amount and, within ten (10) Business Days after Borrowers’ receipt of such notice, Borrowers shall either (A) make
a partial prepayment of the Loan in an amount equal to such Resize Amount (without payment of a Prepayment Premium), (B) deposit
with Administrative Agent in one or more deposit accounts designated by the Administrative Agent an amount equal to such Resize
Amount (less any amounts then on deposit in the hereinafter defined Debt Yield Fund, the “Resize Funded Amount”),
which deposit shall be held without interest in Administrative Agent’s name, shall not be deemed to be held in trust for
the benefit of any Borrower and may be commingled with the general funds of Administrative Agent (each, a “Debt Yield
Fund”), or (C) deliver to Administrative Agent a Specified Letter of Credit with a face amount equal to such Resize
Amount (the “Resize LC”); provided that the Borrowers shall only be permitted to so cure such Resize Events
twice in any calendar year and a total of four times during the life of the Loans.

 

(ii)             
If no Resize Event exists but an Excess Cash Flow Trigger Event occurs, Borrowers shall:

 

(A)            
 within thirty (30) days after the end of each calendar month thereafter until such time as an Excess Cash Flow Termination
Date shall have occurred, deliver to Administrative Agent (w) internally prepared income and cash flow statements for such
month, (x) a monthly statement for each Deposit Account maintained by Borrowers (or by a Property Manager on behalf of Borrowers),
(y) a calculation of Excess Cash Flow for such month, and (z) a Specified Compliance Certificate as of the end of such
month (collectively, the “Cash Flow Requirements”), provided that, unless otherwise requested by Administrative
Agent, for the calendar months ending in March, June, September and December, the foregoing shall be delivered no later than the
earlier of (1) fifty (50) days after the end of each such month and (2) contemporaneously with the quarterly reports described
in Section 6.1(a)(ii), and

 

(B)             
immediately with respect to such subject month and within thirty (30) days after the end of each calendar month thereafter,
deposit any Excess Cash Flow into a Debt Yield Fund.

 

(iii)           
If the Debt Yield is less than the Debt Yield ECF Threshold on four consecutive Test Dates, Administrative Agent may (A) cause
any or all of the funds on deposit in a Debt Yield Fund to be withdrawn, and (B) draw all or any portion of any Specified
Letter of Credit then outstanding. Any amounts received by Administrative Agent as a result of the foregoing shall be applied (without
payment of a Prepayment Premium) (1) if no Event of Default is then in existence, to the then-outstanding principal balance of
the Loan or (2) if an Event of Default is then in existence, to the Obligations in any order and any manner determined by Administrative
Agent in its sole discretion.

 

(iv)         
Following the occurrence of (A) an Excess Cash Flow Termination Date and provided no Resize Period exists, Administrative
Agent, upon a Borrower’s written request, shall release to Borrowers the amounts then on deposit in a Debt Yield Fund and
take such steps as a Borrower may reasonably request (and at Borrowers’ expense) to effectuate termination of any then outstanding
Specified Letters of Credit and (B) a Resize Event Termination Date, Administrative Agent, upon a Borrower’s written request,
shall release to Borrowers any Resize Funded Amount then on deposit in a Debt Yield Fund and take such steps as a Borrower may
reasonably request (and at Borrowers’ expense) to effectuate termination or return of any then outstanding Resize LC.

 

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(v)            
Each Borrower grants to Administrative Agent, as security for the Obligations, a security interest in each Debt Yield Fund
which shall be effective at such time as such Deposit Account is established by Borrowers. If an Event of Default shall occur and
be continuing, Administrative Agent may (i) cause any or all of the funds on deposit in each Debt Yield Fund to be withdrawn, and
(ii) draw all or any portion of any Specified Letter of Credit then outstanding. Any amounts received by Administrative Agent as
a result of the foregoing may be applied on account of the Obligations in any order and any manner determined by Administrative
Agent in its sole discretion (without payment of a Prepayment Premium).

 

(vi)            
If a Borrower delivers a Specified Letter of Credit, such Borrower shall deliver to Administrative Agent not later than
thirty (30) days prior to the expiration date of such Specified Letter of Credit and any renewal or replacement Specified Letter
of Credit, a renewal or replacement Specified Letter of Credit substantially identical in terms and amount acceptable to Administrative
Agent, or alternatively, may (A) make a partial prepayment of the Loan in an amount equal to such Resize Amount (without payment
of a Prepayment Premium), or (B) deposit an amount equal to such Resize Amount into a Debt Yield Fund. Failure to deliver
any renewal or replacement Specified Letter of Credit, and failure to pay or deposit an amount equal to the Resize Amount, in each
case in accordance with the foregoing requirements within five (5) Business Days of such thirty (30) days prior to expiration shall
constitute an immediate Event of Default without any further notice or opportunity to cure and Administrative Agent may, in its
discretion, draw upon any Specified Letter of Credit then in its possession and apply proceeds in accordance with the terms hereof.
If at any time the applicable rating for the issuing financial institution for any Specified Letter of Credit falls below BBB-,
BAA3 or the equivalent, after considering the credit worthiness of the Approved L/C Provider, Administrative Agent may require
within thirty (30) days of such request a replacement Specified Letter of Credit in form and substance and from a United States
bank acceptable to Administrative Agent, in its reasonable discretion.

 

(vii)         
Other than for purposes of calculating the Resize Amount, when calculating the Debt Yield, the outstanding principal balance
of the Loan will not be deemed reduced by any amounts in a Debt Yield Fund or by the balance of any Specified Letter of Credit.

 

(viii)        
If Borrowers fail to perform their obligations under Section 7.13(b)(i), (ii) or (vi), Administrative Agent may exercise
its rights under the Deposit Account Control Agreement to cause all revenues generated by each Borrower and the Projects to be
deposited into a Debt Yield Fund. In such event, Borrowers hereby authorizes Administrative Agent to disburse monies in a Debt
Yield Fund for the payment of all debt service, impounds, escrows, reserves and other amounts required to be paid to Administrative
Agent or Lenders under the Loan Documents (the “Lender Party Payments”).

 

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(c)              
Notwithstanding anything to the contrary, in no event shall Borrowers’ failure to achieve the Minimum Debt Yield ECF
Threshold or the Minimum Debt Yield Covenant Threshold be an Event of Default, unless Borrowers fail to perform their obligations
under Section 7.13(b)(i), (ii) or (vi) and so long as no other Potential Default or Event of Default exists and the Borrowers
are diligently performing their obligations under Section 7.13(b)(i), (ii) or (vi), as applicable.

 

Section 7.14        
 [Reserved].

 

Section 7.15      
Transactions with Affiliates. Without the prior written consent of Administrative Agent, Borrowers shall not
engage in any transaction affecting the Projects with an Affiliate of Borrowers, except as expressly contemplated by this Agreement
or otherwise on arm’s-length market terms.

 

Section 7.16        
Representations and Warranties. All of the representations and warranties in this Agreement, the other Loan Documents
and the Environmental Indemnity Agreement shall be true, correct and complete in all material respects as of the Closing Date (in
each case, without duplication of any materiality qualifier contained therein), except to the extent that such representation or
warranty expressly relates to an earlier date (in which event such representations and warranties were true and correct in all
material respects (without duplication of any materiality qualifier contained therein) as of such earlier date.

 

Section 7.17        
Alterations. Without the prior written consent of Administrative Agent, Borrowers shall not make any alteration
to any Individual Project (except tenant improvements under any Lease approved by Administrative Agent by Administrative Agent
under the terms of this Agreement or as may be required in an emergency) (a) that affects the structural components of the
Projects, utilities, HVAC or the exterior of the Projects, (b) that are reasonably likely to cause a Material Adverse Change
or (c) the cost of which (including any related alteration, improvement or replacement) is reasonably anticipated to exceed
the Restoration Threshold, which approval may not be unreasonably withheld or delayed.

 

Section 7.18        
Business and Operations. Borrowers will continue to engage only in the businesses currently conducted by them
on the date hereof, as and to the extent the same are necessary for the ownership and leasing of the Projects. Borrowers shall
at all times cause the Projects to be maintained in accordance with the Projects’ use as a medical office building.

 

Section 7.19       
Severability of Covenants. Any representations, warranties or covenants made by Borrowers regarding such entities
or their Affiliates (as contrasted with the Projects) shall be deemed to have been made solely on behalf of such entity, and Borrowers
shall not be deemed to be making such representations or covenants or warranties regarding any other entity.

 

Section 7.20        
Required Repairs and Post Closing Obligations. Borrowers shall provide evidence reasonably satisfactory to Administrative
Agent that the Required Repairs have been completed within the time periods set forth on Schedule 11.36,
as the case may be, as may be extended, if at all, in Administrative Agent’s discretion, all of which shall be performed
in a manner reasonably satisfactory to Administrative Agent and in accordance with all Requirements of Law and shall be subject
to inspection by Administrative Agent (at Administrative Agent’s option) during reasonable business hours upon reasonable
advance written notice. Borrowers shall also satisfy the Post Closing Obligations within the time periods set forth on Schedule 11.36.

 

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Section 7.21         
Ground Leases.

 

(a)          
Each Borrower shall (i) promptly perform and observe, in all material respects, all of the covenants required to be
performed and observed by it under each Ground Lease and do all things reasonably necessary to preserve and to keep unimpaired
its rights thereunder; (ii) promptly deliver to Administrative Agent a copy of any written notice of a material default received
by any Borrower under any Ground Lease; and (iii) promptly enforce the performance and observance of all of the covenants
required to be performed and observed by ground lessor under each Ground Lease. Without Administrative Agent’s prior written
consent, no Borrower shall (x) surrender, terminate, or cancel any Ground Lease; (y) modify, change, supplement, alter
or amend in any material respect, or waive or release any of its material rights and remedies under, any Ground Lease; or (z) suffer
or permit the occurrence and continuance of a material default by Borrower beyond any applicable cure period under any Ground Lease.
In the event any Borrower acquires or succeeds to the fee estate of the Land, with or without any outstanding intervening estates
or interests, no merger of estates or interests shall be deemed to have occurred without Administrative Agent’s express written
consent.

 

(b)         
In the event of any failure by any Borrower to keep, observe or perform or failure, in any material respect, to cause to
be kept, observed or performed, any covenant, agreement or condition contained in any Ground Lease, during the continuance of an
Event of Default, Administrative Agent may, at Administrative Agent’s option, perform, observe or comply with such Ground
Lease on behalf of the applicable Borrower, and any such performance, observance or compliance by Administrative Agent shall not
remove or waive, as between Borrowers and Administrative Agent any corresponding Event of Default. Any reasonable amount so advanced
by Administrative Agent to effect such performance, observance or compliance and all costs and expenses incurred in connection
therewith (including, without limitation, reasonable attorneys’ fees), with interest thereon at the Default Rate, shall be
a demand obligation of each Borrower to Administrative Agent, and shall be secured by the applicable Mortgage.

 

(c)         
To the extent permitted by applicable law, including, without limitation the Bankruptcy Code, no Borrower shall, without
Administrative Agent’s prior written consent (such consent not to be unreasonably withheld, or delayed), elect to treat any
Ground Lease or the leasehold estate as terminated under Subsection 365(h)(1)(A)(i) of the Bankruptcy Code, after rejection
of such Ground Lease by the ground lessor, or its successors and assigns, or by any trustee of any such party, and any such election
made without such consent shall be void and ineffective to the extent provided herein.

 

(d)          
Each Borrower hereby unconditionally collaterally assigns, transfers and sets over unto Administrative Agent all of such
Borrower’s claims and rights to the payment of damages that may hereafter arise as a result of any rejection of any Ground
Lease by the ground lessor, or its successors and assigns, or by any trustee of any such party, in a bankruptcy case with respect
to such party under the Bankruptcy Code pursuant to Section 365(a) of the Bankruptcy Code. Administrative Agent shall have
and is hereby granted the right to proceed, in its own name or, during the continuance of an Event of Default, in the name of
any Borrower, in respect of any claim, suit, action or proceeding relating to the rejection of any Ground Lease (including, without
limitation, the right to file and prosecute, any proofs of claim, complaints, motions, applications, notices and other documents)
in any case in respect of such lessor or any of its successors and assigns, under the Bankruptcy Code. This assignment constitutes
a present, irrevocable and unconditional assignment of the foregoing claims, rights and remedies, and shall continue in effect
until all of the indebtedness secured by this Mortgage shall have been satisfied and discharged in full. Any amounts received
by Administrative Agent as damages arising out of any such rejection of any Ground Lease by the applicable ground lessor pursuant
to Section 365(a) of the Bankruptcy Code in connection with such ground lessor’s bankruptcy case shall be applied first
to all reasonable and documented, out-of-pocket costs and expenses of Administrative Agent (including, without limitation, reasonable
and documented attorneys’ fees and out-of-pocket expenses) incurred in connection with the exercise of its rights under
this subparagraph and then, in such manner as Administrative Agent shall reasonably determine, to the reduction of the Indebtedness,
whether or not then due, and the balance, if any, shall then be paid to Borrowers, in each case, subject to any applicable laws.

 

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(e)          
In the event, that, pursuant to Subsection 365(h)(2) of the Bankruptcy Code, any Borrower seeks to offset against the
rent or other payments payable under any Ground Lease, the amount of any damages caused by the nonperformance by the ground lessor,
or its successors and assigns, of such party’s obligations under such Ground Lease after rejection thereof under the Bankruptcy
Code, Borrowers shall, to the extent reasonably practicable under the circumstances and consistent with each Borrower’s fiduciary
duties under applicable law, prior to effecting such offset, notify Administrative Agent of Borrowers’ intent to do so, setting
forth the amounts proposed to be so offset. Administrative Agent shall have the right to object to all or any part of such offset,
and, in the event of such reasonable objection that is sustained by a court of competent jurisdiction (including a bankruptcy court
with jurisdiction over the applicable Borrower’s case under the Bankruptcy Code), no Borrower shall effect any offset of
the amounts so objected to by Administrative Agent, in each case, to the extent determined by a court of competent jurisdiction.
If Administrative Agent shall have failed to object as aforesaid within five (5) Business Days after such notice, Borrowers may
proceed to effect such offset in the amounts set forth in such notice. Neither Administrative Agent’s failure to object as
aforesaid nor any objection relating to such offset shall constitute an approval by Administrative Agent of any such offset.

 

(f)          
Borrowers shall, promptly after obtaining knowledge thereof, give written notice to Administrative Agent of any actual or
contemplated filing with respect to the ground lessor, of a petition under the Bankruptcy Code. Borrowers shall promptly after
receipt thereof, deliver to Administrative Agent any and all material notices, summonses, pleadings, applications and other documents
received by any Borrower in connection with any such petition and any proceedings relating thereto.

 

(g)          
In the event that any action, proceeding, motion or notice shall be commenced or filed in respect of the ground lessor
or the affected Project (or any part thereof) in connection with any case under the Bankruptcy Code, Administrative Agent shall
have, and is hereby granted, the option, to conduct and control any such litigation with counsel of Administrative Agent’s
reasonable choice. Administrative Agent may proceed, in its own name or in the name of any Borrower, in connection with any such
litigation, and each Borrower agrees to execute any and all reasonable powers, pleadings, authorizations, consents and other documents
reasonably required by Administrative Agent in connection therewith. Each Borrower shall, upon demand, pay to Administrative Agent
all reasonable and documented, out-of-pocket, costs and expenses (including, without limitation, reasonable attorneys’ fees)
paid or incurred by Administrative Agent in connection with the prosecution or conduct of any such proceedings, together with
interest at the Default Rate, and, to the extent permitted by law, such costs, expenses and interest shall be added to the Indebtedness
and shall be secured by the applicable Mortgage if not paid when due. No Borrower shall, without the prior written consent of
Administrative Agent (such consent not to be un-reasonably withheld or delayed), commence any action, suit, proceeding or case,
or file any application or make any motion, in respect of any Ground Lease in any such case under the Bankruptcy Code.

 

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Section 7.22        
Restrictions on Distributions, Dividends. No distribution, including, any preferred equity distribution or issuance
of any equity to any direct owner of any Borrower, may be made by any Borrower to its members, partners or shareholders, as applicable,
or to any other Borrower Party during any period in which (a) an Event of Default is in existence or (b) Borrowers are required
to deposit Excess Cash Flow into a Debt Yield Fund.

 

ARTICLE
8

EVENTS OF DEFAULT

 

Each of the following
shall constitute an “Event of Default” hereunder and under the Loan:

 

Section 8.1          
Payments. Failure of Borrowers to pay any regularly scheduled installment of principal, interest or other amount
due under the Loan Documents within five (5) days of (and including) the date when due, or failure of Borrowers to pay the Loan
at the Maturity Date, whether by acceleration or otherwise.

 

Section 8.2           
Insurance. Borrowers’ failure to maintain insurance as required under Section 3.1 of this Agreement.

 

Section 8.3           
Prohibited Transfer. A Prohibited Transfer occurs, in violation of this Agreement.

 

Section
8.4           Covenants.
Subject to any shorter period for curing any failure by Borrowers as specified in any of the other Loan Documents or
Environmental Indemnity Agreement, Borrowers’ failure to perform, observe or comply with any of the
agreements, covenants or provisions contained in this Agreement or in any of the other Loan Documents or Environmental
Indemnity Agreement (other than those agreements, covenants and provisions referred to elsewhere in this Article 8),
and the continuance of such failure for thirty (30) days after notice by Administrative Agent to Borrower Representative; provided, however,
subject to any shorter period for curing any failure by Borrowers as specified in any of the other Loan Documents or
Environmental Indemnity Agreement, Borrowers shall have an additional sixty (60) days to cure such failure if (a) such
failure does not involve the failure to make payments on a monetary obligation; (b) such failure cannot reasonably be
cured within thirty (30) days; and (c) Borrowers are diligently undertaking to cure such default. The notice and cure
provisions of this Section 8.4 do not apply to the other Events of Default described in this Article 8
or to Borrowers’ failure to perform, observe or comply with any of the agreements, covenants or provisions referenced
elsewhere in this Article 8 (for which no notice and cure period shall apply).

 

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Section 8.5          
Representations and Warranties. Any representation or warranty made in any Loan Document, the Environmental Indemnity
Agreement or any Compliance Certificate proves to be untrue in any material respect when made.

 

Section 8.6          
Other Encumbrances. Any material default by any Borrower under any material document or instrument, other than
the Loan Documents, evidencing or creating a Lien on any Project or any part thereof, is not cured within any applicable grace
or cure period therein.

 

Section 8.7          
Collateral. Lender ceases to have a valid security interest in the Collateral purported to be covered thereby
or such security interest pursuant to the terms hereof shall for any reason cease to be a perfected and first priority security
interest and Borrowers fail to cooperate and consummate the correction of such defects within ten (10) Business Days.

 

Section 8.8          
Involuntary Bankruptcy or Other Proceeding. Commencement of an involuntary case or other proceeding against any
Borrower or any other Borrower Party (each, a “Bankruptcy Party”) which seeks liquidation, reorganization
or other relief with respect to it or its debts or other liabilities under any bankruptcy, insolvency or other similar law now
or hereafter in effect or seeks the appointment of a trustee, receiver, liquidator, custodian or other similar official of it or
any of its property, and such involuntary case or other proceeding shall remain undismissed or unstayed for a period of ninety
(90) days; or an order for relief against a Bankruptcy Party shall be entered in any such case under the Federal Bankruptcy Code.

 

Section 8.9          
Voluntary Petitions, Etc. Commencement by a Bankruptcy Party of a voluntary case or other proceeding seeking
liquidation, reorganization or other relief with respect to itself or its Debts or other liabilities under any bankruptcy, insolvency
or other similar law or seeking the appointment of a trustee, receiver, liquidator, custodian or other similar official for it
or any of its property, or consent by a Bankruptcy Party to any such relief or to the appointment of or taking possession by any
such official in an involuntary case or other proceeding commenced against it, or the making by a Bankruptcy Party of a general
assignment for the benefit of creditors, or the failure by a Bankruptcy Party, or the admission by a Bankruptcy Party in writing
of its inability, to pay its debts generally as they become due, or any action by a Bankruptcy Party to authorize or effect any
of the foregoing.

 

Section 8.10        
Default Under Operators’ Agreements and Triple Net Leases. Subject to Section 9.4 hereof, the
occurrence of a material default by Borrowers under any of the Operators’ Agreements or the occurrence of a default by Borrowers
under any of the Triple Net Leases, which remains uncured beyond any applicable grace or cure periods.

 

Section 8.11        
[Reserved].

 

Section 8.12       
Certain Covenants. Any Borrower’s failure to (i) maintain its status as a Single Purpose Entity; (ii) timely
deliver the Compliance Certificate and the continuance of such failure for three (3) Business Days after notice by Administrative
Agent to Borrower Representative; (iii) comply with the provisions of Section 7.1; (iv) comply with the
obligations to pay down the Loan in accordance with the provisions of Section 7.13(c); or (v) provide Administrative
Agent with ten (10) Business Days subsequent written notice of changes of the state of any Borrower’s formation or any Borrower’s
name.

 

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Section 8.13        
Financial Information. Subject to Subject to Section 8.12, Borrowers’ failure to deliver financial
statements and reports as required by Article 6 and the continuance of such failure for three (3) Business Days after
notice by Administrative Agent to Borrower Representative.

 

Section 8.14        
Default Under Guaranty. The occurrence of a default under the Recourse Guaranty Agreement or Payment Guaranty
and such default is not cured within any grace or cure periods provided therein.

 

Section 8.15        
Criminal Act. Any Borrower Party is convicted of a felony involving fraud or embezzlement or moral turpitude.

 

Section 8.16        
[Reserved].

 

Section 8.17        
Environmental Indemnity Agreement. There shall have occurred any default under the Environmental Indemnity Agreement
which remains uncured beyond any applicable grace or cure periods available under the Environmental Indemnity Agreement.

 

Section 8.18        Required
Repairs and Post Closing Obligations. The failure to complete the Required Repairs or satisfy the Post Closing Obligations
within the time periods set forth on Schedule 11.36 subject to force majeure.

 

Section 8.19       
Secured Hedge Agreement. The occurrence of a default by any Borrower Party under a Secured Hedge Agreement, if
any, which remains uncured beyond any applicable grace or cure periods provided therein.

 

Section 8.20        
Ground Leases. The (i) occurrence by Borrower of a material default under any Ground Leases which remains
uncured beyond any applicable grace or cure periods provided therein or (ii) the modification, termination or surrender of
Ground Leases without the prior written consent of Administrative Agent.

 

Section 8.21        
[Reserved].

 

Section 8.22        
Change of Control. A Change of Control occurs.

 

ARTICLE
9

REMEDIES

 

Section 9.1          
Remedies – Insolvency Events. Upon the occurrence of any Event of Default described in Sections 8.8
or 8.9, all amounts due under the Loan Documents (excluding the Secured Hedge Agreements) immediately shall become
due and payable, all without written notice and without presentment, demand, protest, notice of protest or dishonor, notice of
intent to accelerate the maturity thereof, notice of acceleration of the maturity thereof, or any other notice of default of any
kind, all of which are hereby expressly waived by Borrowers; however, if the Bankruptcy Party under Sections 8.7 or
8.8 is other than Borrowers, then all amounts due under the Loan Documents shall become immediately due and payable at
Administrative Agent’s election, in Administrative Agent’s sole discretion.

 

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Section 9.2          
Remedies – Other Events; Protective Advances.

 

(a)           
Remedies – Other Events. Except as set forth in Section 9.1 above, while any Event of Default
exists, Administrative Agent may, and at the direction of the Required Lenders shall, (a) by written notice to Borrowers,
declare the entire Loan to be immediately due and payable without presentment, demand, protest, notice of protest or dishonor,
notice of intent to accelerate the maturity thereof, notice of acceleration of the maturity thereof, or other notice of default
of any kind, all of which are hereby expressly waived by Borrowers, (b) exercise all rights and remedies therefor under the
Loan Documents and at law or in equity, and (c) make Protective Advances that Administrative Agent determines as necessary
to protect or maintain the Collateral. Notwithstanding anything to the contrary contained in the Loan Documents or the Environmental
Indemnity Agreement, the enforcement of the obligations of Borrowers and the other Borrower Parties under the Loan Documents and
the Environmental Indemnity Agreement and the exercise of rights and remedies thereunder shall be undertaken solely by Administrative
Agent in its capacity as agent for Lenders.

 

(b)          
Protective Advances. All losses incurred in connection with the Loan (including with respect to interest
(including interest at the Default Rate) and other sums payable pursuant to the Notes), the enforcement thereof, or the realization
of the security therefor, shall be borne by Lenders in accordance with their respective pro rata share of the Loan. In addition,
Lenders shall promptly, upon request by Administrative Agent, remit to Administrative Agent their respective pro rata share of
any advances or disbursements made or to be made to pay taxes (including special assessments or payments in lieu of real estate
taxes), maintenance costs, ground rent, insurance premiums or other items which Administrative Agent or Required Lenders determine
are necessary to preserve the Lien (or priority of the Lien) on any Collateral from any intervening lien, forfeiture, casualty,
loss, waste or other impairment, diminution or reduction in value or to preserve, protect, sell, operate, manage, lease, improve,
maintain, repair, defend or dispose of any Collateral or any portion thereof), whether or not the amount necessary to be advanced
for such purposes exceeds the amount of the Loan (all such advances, collectively, “Protective Advances”).
Each Lender’s pro rata share of any Protective Advance shall constitute obligatory advances of that Lender under this Agreement,
shall be payable by each Lender on demand by Administrative Agent and secured by the Collateral, and, if unpaid by any Lender
as set forth below, such Lender’s pro rata share thereof shall bear interest at the rate applicable to such amount under
the Loan (or, if no longer applicable, at the Base Rate). Administrative Agent shall notify each Lender in writing of its pro
rata share of each Protective Advance. Upon receipt of notice from Administrative Agent of its making of a Protective Advance,
each Lender shall make the amount of such Lender’s pro rata share of the Protective Advance available to Administrative
Agent, in same day funds, to such account of Administrative Agent as Administrative Agent may designate, (i) on or before
3:00 p.m. (Eastern Standard or Daylight Savings time) on the day Administrative Agent provides Lenders with notice of the
making of such Protective Advance if Administrative Agent provides such notice on or before 12:00 p.m. (Eastern Standard
or Daylight Savings time), or (ii) on or before 12:00 p.m. on the Business Day immediately following the day Administrative
Agent provides Lenders with notice of the making of such advance if Administrative Agent provides notice after 12:00 p.m.
(Eastern Standard or Daylight Savings time).

 

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Section 9.3           
Administrative Agent’s Right to Perform the Obligations. If Borrowers shall fail, refuse or neglect to
make any payment or perform any act required by the Loan Documents or the Environmental Indemnity Agreement, then while any Event
of Default exists, and without notice to or demand upon Borrowers and without waiving or releasing any other right, remedy or recourse
Administrative Agent may have because of such Event of Default, Administrative Agent may (but shall not be obligated to) make such
payment or perform such act for the account of and at the expense of Borrowers, and shall have the right to enter upon the Projects
for such purpose and to take all such action thereon and with respect to the Projects as it may deem necessary or appropriate.
If Administrative Agent shall elect to pay any sum due with reference to the Projects, Administrative Agent may do so in reliance
on any bill, statement or assessment procured from the appropriate Governmental Authority or other issuer thereof without inquiring
into the accuracy or validity thereof. Similarly, in making any payments to protect the security intended to be created by the
Loan Documents, Administrative Agent shall not be bound to inquire into the validity of any apparent or threatened adverse title,
lien, encumbrance, claim or charge before making an advance for the purpose of preventing or removing the same. Borrowers shall
indemnify, defend and hold Administrative Agent harmless from and against any and all losses, liabilities, claims, damages, expenses,
obligations, penalties, actions, judgments, suits, costs, or disbursements of any kind or nature whatsoever, including reasonable
attorneys’ fees, actually incurred by reason of any acts performed by Administrative Agent pursuant to the provisions of
this Section 9.3, including those arising from the joint, concurrent, or comparative negligence of Administrative Agent.
All sums paid by Administrative Agent pursuant to this Section 9.3, and all other sums expended by Administrative Agent
to which it shall be entitled to be indemnified, together with interest thereon at the Default Rate from the date of such payment
or expenditure until paid, shall constitute additions to the Loan, shall be secured by the Loan Documents and shall be paid by
Borrowers to Administrative Agent upon demand.

 

Section 9.4          
Special Cure Right to Cure with Respect to Operational Defaults. Notwithstanding anything contained in this Article 9
to the contrary, if an event of default beyond any applicable notice and cure periods occurs by Borrower under a Triple Net Lease
or Operator’s Agreement (an “Operational Default”), such Operational Default shall not constitute
an “Event of Default” under Section 8.10 hereunder if (and only if) all of the following conditions are
satisfied as determined by Administrative Agent in its reasonable discretion:

 

(a)          
There exists no other Event of Default hereunder.

 

(b)          
Borrowers send notice to Lender describing in reasonable detail the Operational Default prior the earlier of (i) thirty
(30) days from the date of such Operational Default and (ii) the date upon which the counterparty to the applicable Operator’s
Agreement or Triple Net Lease may terminate such agreement as a result of such default.

 

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(c)          
All debt service payments and all other amounts due under the Loan Documents are paid current at all times.

 

(d)          
Neither the value of the applicable Project nor the ability to operate the Project is materially impaired as a result of
the act or omission that caused the Operational Default.

 

ARTICLE
10

ADMINISTRATIVE AGENT

 

Section 10.1         
Appointment and Duties.

 

(a)          
Each Lender hereby appoints CONA (together with any successor Administrative Agent pursuant to Section 10.9)
as Administrative Agent hereunder and authorizes Administrative Agent to (i) execute and deliver the Loan Documents and the
Environmental Indemnity Agreement and accept delivery thereof on its behalf from any Borrower or any other Borrower Party, (ii) take
such action on its behalf and to exercise all rights, powers and remedies and perform the duties as are expressly delegated to
Administrative Agent under such Loan Documents and the Environmental Indemnity Agreement and (iii) exercise such powers as
are reasonably incidental thereto.

 

(b)          
Without limiting the generality of clause (a) above, Administrative Agent shall have the sole and exclusive
right and authority (to the exclusion of Lenders), and is hereby authorized, to (i) act as the disbursing and collecting agent
for Lenders with respect to all payments and collections arising in connection with the Loan Documents and the Environmental Indemnity
Agreement (including in any proceeding described in Section 8.8 or Section 8.9 or any other bankruptcy,
insolvency or similar proceeding), and each Person making any payment in connection with any Loan Document and the Environmental
Indemnity Agreement to any Secured Party is hereby authorized to make such payment to Administrative Agent, (ii) file and
prove claims and file other documents necessary or desirable to allow the claims of the Secured Parties with respect to any Obligation
in any proceeding described in Section 8.7 or Section 8.8 or any other bankruptcy, insolvency or similar
proceeding (but not to vote, consent or otherwise act on behalf of such Secured Party), (iii) act as collateral agent for
each Secured Party for purposes of the perfection of all Liens created by such agreements and all other purposes stated therein,
(iv) manage, supervise and otherwise deal with the Collateral, (v) take such other action as is necessary or desirable
to maintain the perfection and priority of the Liens created or purported to be created by the Loan Documents, (vi) except
as may be otherwise specified in any Loan Document or the Environmental Indemnity Agreement, exercise all remedies given to Administrative
Agent and the other Secured Parties with respect to the Collateral, whether under the Loan Documents or the Environmental Indemnity
Agreement, applicable law or otherwise, (vii) execute any amendment, consent or waiver under the Loan Documents and the Environmental
Indemnity Agreement on behalf of any Lender that has consented in writing to such amendment, consent or waiver to the extent such
consent is required hereunder; provided, however, that Administrative Agent hereby appoints, authorizes and directs
each Lender to act as collateral sub-agent for Administrative Agent and Lenders for purposes of the perfection of all Liens with
respect to the Collateral, including any deposit account maintained by Borrowers or any other Borrower Party with, and cash and
Cash Equivalents held by, such Lender, and may further authorize and direct Lenders to take further actions as collateral sub-agents
for purposes of enforcing such Liens or otherwise to transfer the Collateral subject thereto to Administrative Agent, and each
Lender hereby agrees to take such further actions to the extent, and only to the extent, so authorized and directed and (viii) provide
each Lender within ten (10) Business Days following receipt, copies of the reports and financial information received from Borrowers
under Article 6 and notices of default delivered by or received by Administrative Agent under this Agreement.

 

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(c)              
Under the Loan Documents and the Environmental Indemnity Agreement, Administrative Agent (i) is acting solely on behalf
of Lenders (except to the limited extent provided in Section 2.12(b) with respect to the Register and in Section 11.3),
with duties that are entirely administrative in nature, notwithstanding the use of the defined term “Administrative Agent”,
the terms “agent”, “administrative agent” and “collateral agent” and similar terms in any Loan
Document or the Environmental Indemnity Agreement to refer to Administrative Agent, which terms are used for title purposes only,
(ii) is not assuming any obligation under any Loan Document or the Environmental Indemnity Agreement other than as expressly
set forth therein or any role as agent, fiduciary or trustee of or for any Lender or any other Secured Party and (iii) shall
have no implied functions, responsibilities, duties, obligations or other liabilities under any Loan Document or the Environmental
Indemnity Agreement to any Lender, and each Lender hereby waives and agrees not to assert any claim against Administrative Agent
based on the roles, duties and legal relationships expressly disclaimed in clauses (i) through (iii) above.

 

Section 10.2      
Binding Effect.

 

(a)              
Each Lender agrees that as between the Lenders and the Administrative Agent, (i) any action taken by Administrative
Agent or the Required Lenders (or, if expressly required hereby, a greater proportion of Lenders) in accordance with the provisions
of the Loan Documents or the Environmental Indemnity Agreement, (ii) any action taken by Administrative Agent in reliance
upon the instructions of Required Lenders (or, where so required, such greater proportion of Lenders) or without reliance on any
Lenders to the extent neither this Agreement nor any of the other Loan Documents explicitly requires the approval of Lenders or
Required Lenders, and (iii) the exercise by Administrative Agent or the Required Lenders (or, where so required, such greater
proportion of Lenders) of the powers set forth herein or therein, together with such other powers as are reasonably incidental
thereto, shall be authorized and binding upon all of the Secured Parties.

 

(b)              
Borrowers may rely conclusively on any written consent, approval or waiver of Administrative Agent that it has the authority
to act for and bind the Lenders pursuant to this Agreement or the other Loan Documents (excluding, if applicable, any Hedge Agreement
provided by a Secured Hedge Provider).

 

Section 10.3      
Use of Discretion.

 

(a)               Administrative
Agent shall not be required to exercise any discretion or take, or to omit to take, any action, including with respect to
enforcement or collection of amounts owing hereunder after an Event of Default, except any action it is required to take or
omit to take (i) under any Loan Document or the Environmental Indemnity Agreement or (ii) pursuant to
instructions from the Required Lenders (or, where expressly required by the terms of this Agreement, a greater proportion of
Lenders).

 

AMENDED
AND RESTATED LOAN AGREEMENT – PAGE 95

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(b)              
Notwithstanding clause (a) of this Section 10.3, Administrative Agent shall not be required to take,
or to omit to take, any action (other than granting consents or approvals, receiving payments or any other matters explicitly set
forth in this Agreement or the other Loan Documents and the Environmental Indemnity in each case as being in the sole discretion
of Administrative Agent (i) unless, upon demand, Administrative Agent receives an indemnification satisfactory to it from
Lenders (or, to the extent applicable and acceptable to Administrative Agent, any other Secured Party) against all Liabilities
that, by reason of such action or omission, may be imposed on, incurred by or asserted against Administrative Agent or any Related
Person thereof or (ii) that is, in the opinion of Administrative Agent or its counsel, contrary to any Loan Document or the
Environmental Indemnity Agreement or applicable Requirement of Law.

 

Section 10.4      
Delegation of Rights and Duties. Administrative Agent may perform any and all of its duties and exercise its
rights and powers hereunder or under any other Loan Document by or through any one or more sub-agents appointed by Administrative
Agent. Administrative Agent and any such sub-agent may perform any and all of its duties and exercise its rights and powers
by or through their respective Related Parties. The exculpatory provisions of this Article shall apply to any such sub-agent
and to the Related Parties of Administrative Agent and any such sub-agent and shall apply to their respective activities in
connection with the syndication of the Loan as well as activities as Administrative Agent. Administrative Agent shall not be responsible
for the negligence or misconduct of any sub-agents except to the extent that a court of competent jurisdiction determines in a
final and nonappealable judgment that Administrative Agent acted with gross negligence or willful misconduct in the selection of
such sub-agents.

 

Section 10.5      
Reliance and Liability.

 

(a)              
Administrative Agent may, without incurring any liability hereunder, (i) treat the payee of any Note as its holder
until such Note has been assigned in accordance with Section 11.3, (ii) rely on the Register to the extent set
forth in Section 2.12, (iii) consult with any of its Related Persons and, whether or not selected by it, any other
advisors, accountants and other experts (including advisors to, and accountants and experts engaged by, any Borrower or any other
Borrower Party) and (iv) rely and act upon any document and information (including those transmitted by Electronic Transmission)
and any telephone message or conversation, in each case believed by it to be genuine and transmitted, signed or otherwise authenticated
by the appropriate parties.

 

(b)               None
of Administrative Agent and its Related Persons shall be liable to the Lenders for any action taken or omitted to be taken by
any of them under or in connection with any Loan Document or the Environmental Indemnity Agreement in its capacity as
Administrative Agent (or Related Person of Administrative Agent), and each Lender hereby waives and shall not assert any
right, claim or cause of action based thereon, except to the extent of liabilities resulting primarily from the gross
negligence or willful misconduct of Administrative Agent or, as the case may be, such Related Person (each as determined in a
final, non-appealable judgment by a court of competent jurisdiction) in connection with the duties expressly set forth
herein. Without limiting the foregoing, Administrative Agent:

 

AMENDED
AND RESTATED LOAN AGREEMENT – PAGE 96

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(i)               Shall have no duties or responsibilities except those expressly set forth in this Agreement and in the other Loan Documents
and the Environmental Indemnity Agreement, and shall not by reason of this Agreement or any other Loan Document or the Environmental
Indemnity Agreement, be a trustee for any Lender:

 

(ii)             
shall not be responsible or otherwise incur liability for any action or omission taken in reliance upon the instructions
of the Required Lenders or for the actions or omissions of any of its Related Persons selected with reasonable care (other than
employees, officers and directors of Administrative Agent, when acting on behalf of Administrative Agent);

 

(iii)           
shall not be responsible to any Secured Party for the due execution, legality, validity, enforceability, effectiveness,
genuineness, sufficiency or value of, or the attachment, perfection or priority of any Lien created or purported to be created
under or in connection with, any Loan Document or the Environmental Indemnity Agreement;

 

(iv)            
makes no warranty or representation, and shall not be responsible, to any Secured Party for any statement, document, information,
representation or warranty made or furnished by or on behalf of any Related Person or any Borrower or any other Borrower Party
in connection with any Loan Document, the Environmental Indemnity Agreement or any transaction contemplated therein or any other
document or information with respect to any Borrower or any other Borrower Party, whether or not transmitted or (except for documents
expressly required under any Loan Document or the Environmental Indemnity Agreement to be transmitted to Lenders) omitted to be
transmitted by Administrative Agent, including as to completeness, accuracy, scope or adequacy thereof, or for the scope, nature
or results of any due diligence performed by Administrative Agent in connection with the Loan Documents; and

 

(v)              shall not have any duty to ascertain or to inquire as to the performance or observance of any provision of any Loan Document
or the Environmental Indemnity Agreement, whether any condition set forth in any Loan Document or the Environmental Indemnity Agreement
is satisfied or waived, as to the financial condition of any Borrower or any other Borrower Party or as to the existence or continuation
or possible occurrence or continuation of any Potential Default or Event of Default and shall not be deemed to have notice or knowledge
of such occurrence or continuation unless it has received a notice from Borrowers, any Lender describing such Potential Default
or Event of Default clearly labeled “notice of default” (in which case Administrative Agent shall promptly give notice
of such receipt to all Lenders);

 

and, for each of the items set forth in
clauses (i) through (iv) above, each Lender hereby waives and agrees not to assert any right, claim or cause of action
it might have against Administrative Agent based thereon.

 

Section
10.6       Administrative
Agent Individually. Administrative Agent and its Affiliates may make loans and other extensions of credit to, acquire
stock and stock equivalents of, engage in any kind of business with, any Borrower or any other Borrower Party or Affiliate
thereof as though it were not acting as Administrative Agent and may receive separate fees and other payments therefor. To
the extent Administrative Agent or any of its Affiliates makes any Loan or otherwise becomes a Lender hereunder, it shall
have and may exercise the same rights and powers hereunder and shall be subject to the same obligations and liabilities as
any other Lender and the terms “Lender,” and “Required Lender,” and any similar terms shall,
except where otherwise expressly provided in any Loan Document or the Environmental Indemnity Agreement, include, without
limitation, Administrative Agent or such Affiliate, as the case may be, in its individual capacity as Lender or as one of the
Required Lenders, respectively.

 

AMENDED
AND RESTATED LOAN AGREEMENT – PAGE 97

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Section 10.7      
Lender Credit Decision. Each Lender acknowledges that it shall, independently and without reliance upon Administrative
Agent, any other Lender or any of their Related Persons or upon any document solely or in part because such document was transmitted
by Administrative Agent or any of its Related Persons, conduct its own independent investigation of the financial condition and
affairs of each Borrower and each other Borrower Party and make and continue to make its own credit decisions in connection with
entering into, and taking or not taking any action under, any Loan Document or the Environmental Indemnity Agreement or with respect
to any transaction contemplated in any Loan Document or the Environmental Indemnity Agreement, in each case based on such documents
and information as it shall deem appropriate. Except for documents expressly required by any Loan Document or the Environmental
Indemnity Agreement to be transmitted by Administrative Agent to Lenders, Administrative Agent shall not have any duty or responsibility
to provide any Lender with any credit or other information concerning the business, prospects, operations, property, financial
and other condition or creditworthiness of any Borrower or any other Borrower Party or any Affiliate of any Borrower or any other
Borrower Party that may come into the possession of Administrative Agent or any of its Related Persons.

 

Section 10.8      
Expenses. Each Lender agrees to reimburse Administrative Agent and each of its Related Persons (to the extent
not reimbursed by any Borrower or any other Borrower Party) promptly upon demand for such Lender’s Pro Rata Share with respect
to the Loan of any costs and expenses (including fees, charges and disbursements of financial, legal and other advisors and other
taxes paid in the name of, or on behalf of, any Borrower or any other Borrower Party) that may be incurred by Administrative Agent
or any of its Related Persons in connection with the preparation, syndication, execution, delivery, administration, modification,
consent, waiver or enforcement (whether through negotiations, through any work-out, bankruptcy, restructuring or other legal or
other proceeding or otherwise) of, or legal advice in respect of its rights or responsibilities under, any Loan Document and the
Environmental Indemnity Agreement.

 

Section 10.9      
Resignation of Administrative Agent.

 

(a)               Administrative
Agent may resign at any time by delivering written notice of such resignation to Lenders and Borrowers, effective on the date
set forth in such notice or, if no such date is set forth therein, upon the date such notice shall be effective. If
Administrative Agent delivers any such notice, the Required Lenders shall have the right to appoint a successor
Administrative Agent, subject to the reasonable approval of Borrowers and provided that (i) no Event of Default shall have
occurred and be continuing and (ii) Borrower Representative shall be deemed to have consented to any such appointment unless
it shall object thereto by written notice to Administrative Agent within ten (10) Business Days after receipt thereof. If,
within thirty (30) days after the retiring Administrative Agent having given written notice of resignation, no successor
Administrative Agent has been appointed by the Required Lenders that has accepted such appointment, then the retiring
Administrative Agent may, on behalf of Lenders, appoint a successor Administrative Agent from among Lenders (excluding
Defaulting Lenders).

 

AMENDED
AND RESTATED LOAN AGREEMENT – PAGE 98

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(b)              
Effective immediately upon its resignation, (i) the retiring Administrative Agent shall be discharged from its duties
and obligations under the Loan Documents and the Environmental Indemnity Agreement, (ii) Lenders shall assume and perform
all of the duties of Administrative Agent until a successor Administrative Agent shall have accepted a valid appointment hereunder,
(iii) the retiring Administrative Agent and its Related Persons shall no longer have the benefit of any provision of any Loan
Document or the Environmental Indemnity Agreement other than with respect to any actions taken or omitted to be taken while such
retiring Administrative Agent was, or because such Administrative Agent had been, validly acting as Administrative Agent under
the Loan Documents, and (iv) subject to its rights under Section 9.3, the retiring Administrative Agent shall
take such action as may be reasonably necessary to assign to the successor Administrative Agent its rights as Administrative Agent
under the Loan Documents and the Environmental Indemnity Agreement. Effective immediately upon its acceptance of a valid appointment
as Administrative Agent, a successor Administrative Agent shall succeed to, and become vested with, all the rights, powers, privileges
and duties of the retiring Administrative Agent under the Loan Documents and the Environmental Indemnity Agreement.

 

(c)              
Administrative Agent may be removed as Administrative Agent upon the request of all Lenders (other than Affiliates of Administrative
Agent) upon the determination by a court of competent jurisdiction that Administrative Agent has committed actions constituting
gross negligence or willful misconduct under this Agreement. The provisions of subsection (b) above shall apply upon such
removal and Lenders shall appoint such successor Administrative Agent in consultation with Borrower Representative.

 

Section
10.10         Additional Secured
Parties. The benefit of the provisions of the Loan Documents and the Environmental Indemnity Agreement directly
relating to the Collateral or any Lien granted thereunder shall extend to and be available to any Secured Party that is not a
Lender as long as, by accepting such benefits, such Secured Party agrees, as among Administrative Agent and all other Secured
Parties, that such Secured Party is bound by (and, if requested by Administrative Agent, shall confirm such agreement in a
writing in form and substance acceptable to Administrative Agent) this Article 10, Section 11.6
(Right of Setoff), Section 11.7 (Sharing of Payments, Etc.) and Section 11.23 (Non-Public
Information; Confidentiality) and the decisions and actions of Administrative Agent and the Required Lenders (or, where
expressly required by the terms of this Agreement, a greater proportion of Lenders) to the same extent a Lender is bound; provided, however,
that, notwithstanding the foregoing, (a) such Secured Party shall be bound by Section 10.13 only to the
extent of Liabilities, costs and expenses with respect to or otherwise relating to the Collateral held for the benefit of
such Secured Party, in which case the obligations of such Secured Party thereunder shall not be limited by any concept of Pro
Rata Share or similar concept, (b) except as set forth specifically herein, each of Administrative Agent and each Lender
shall be entitled to act at its sole discretion, without regard to the interest of such Secured Party, regardless of whether
any Obligation to such Secured Party thereafter remains outstanding, is deprived of the benefit of the Collateral, becomes
unsecured or is otherwise affected or put in jeopardy thereby, and without any duty or liability to such Secured Party or any
such Obligation and (c) except as set forth specifically herein, such Secured Party shall not have any right to be
notified of, consent to, direct, require or be heard with respect to, any action taken or omitted in respect of the
Collateral or under any Loan Document or the Environmental Indemnity Agreement.

 

AMENDED
AND RESTATED LOAN AGREEMENT – PAGE 99

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Section 10.11  
Reliance by Administrative Agent. Administrative Agent shall be entitled to rely upon any certification, notice
or other communication (including any thereof by telephone, facsimile, telegram or cable) reasonably believed by it to be genuine
and correct and to have been signed or sent by or on behalf of the proper Person or Persons, and upon advice and statements of
legal counsel, independent accountants and other experts selected by Administrative Agent. As to any matters not expressly provided
for by this Agreement or any other Loan Document or the Environmental Indemnity Agreement, Administrative Agent shall in all cases
be fully protected in acting, or in refraining from acting, hereunder or thereunder in accordance with instructions given by the
Required Lenders, and any action taken or failure to act pursuant thereto shall be binding on all of Lenders.

 

Section 10.12  
Rights as a Lender. With respect to CONA’s Loan Commitment, if any, and the advances of the Loan made by
it, CONA (and any successor permitted by the terms hereof acting as Administrative Agent) in its capacity as a Lender hereunder
shall have the same rights and powers hereunder as any other Lender and may exercise the same as though it were not acting as Administrative
Agent, and the term “Lender” or “Lenders” shall, unless the context otherwise
indicates, include Administrative Agent in its individual capacity. CONA (and any successor permitted by the terms hereof acting
as Administrative Agent) and its Affiliates may (without having to account therefor to any Lender) lend money to, make investments
in and generally engage in any kind of lending, trust or other business with Borrowers (and any of their Affiliates) as if it were
not acting as Administrative Agent, and CONA and its Affiliates may accept fees and other consideration from Borrowers for services
in connection with this Agreement or otherwise without having to account for the same to Lenders.

 

Section
10.13   Standard of Care;
Indemnification. In performing its duties under the Loan Documents and the Environmental Indemnity Agreement,
Administrative Agent will exercise the same degree of care as Administrative Agent normally exercises in connection with
similar loans held for its own account, but Administrative Agent shall have no further responsibility to any Lender except as
expressly provided herein and except for its own gross negligence or willful misconduct which resulted in actual loss to
such Lender, and, except to such extent, Administrative Agent shall have no responsibility to any Lender for the failure by
Administrative Agent to comply with any of Administrative Agent’s obligations to Borrowers under the Loan Documents,
the Environmental Indemnity Agreement or otherwise. Lenders agree to indemnify Administrative Agent (to the extent not
reimbursed under Sections 11.5 or 11.11, but without limiting the obligations of Borrowers under Sections 11.5
or 11.11) ratably in accordance with each Lender’s Pro Rata Share, for any and all liabilities, obligations,
losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements of any kind and nature whatsoever
that may be imposed on, incurred by or asserted against Administrative Agent (including by any Lender) arising out of or by
reason of any investigation in or in any way relating to or arising out of this Agreement or any other Loan Document, the
Environmental Indemnity Agreement or any other documents contemplated by or referred to herein or therein or the transactions
contemplated hereby or thereby (including the costs and expenses that Borrowers are obligated to pay under Section 11.11,
but excluding, unless an Event of Default has occurred and is continuing, normal administrative costs and expenses incident
to the performance of its agency duties hereunder) or the enforcement of any of the terms hereof or thereof or of any such
other documents, provided that no Lender shall be liable for any of the foregoing to the extent they arise from
Administrative Agent’s breach of its standard of care set forth in the first sentence of this Section.

 

AMENDED
AND RESTATED LOAN AGREEMENT – PAGE 100

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Section 10.14  
Failure to Act. Except for actions expressly required of Administrative Agent hereunder, and under the other
Loan Documents and the Environmental Indemnity Agreement, Administrative Agent shall in all cases be fully justified in failing
or refusing to act hereunder and thereunder unless it shall receive further assurances to its reasonable satisfaction from Lenders
of their indemnification obligations under Section 10.13 against any and all liability and expense that may be incurred
by it by reason of taking or continuing to take any such action.

 

Section 10.15  
Titles. Notwithstanding any provision to the contrary contained elsewhere in this Agreement or in any other Loan
Document, no arrangers, documentation agents, or syndication agent shall have any duties or responsibilities, nor shall any documentation
agent or syndication agent have or be deemed to have any fiduciary relationship with any Lender, and no implied covenants, functions,
responsibilities, duties, obligations or liabilities shall be read into this Agreement or any other Loan Document or otherwise
exist against any arranger, documentation agent or syndication agent. At any time that any Lender serving (or whose Affiliate is
serving) as arranger, documentation agent and/or syndication agent shall have transferred to any other Person (other than any Affiliates)
all of its interests in the Loan and the Loan Commitment, such Lender (or an Affiliate of such Lender acting as arranger, documentation
agent or syndication agent) shall be deemed to have concurrently resigned as such arranger, documentation agent and/or syndication
agent.

 

ARTICLE
11

MISCELLANEOUS

 

Section 11.1      
Notices.

 

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

 

	If to Borrowers: 	Healthcare Trust Operating Partnership,
L.P.405 Park Avenue
 New York, New York 10022
 Attention: Healthcare General Counsel
 Facsimile: N/A

 

	With a copy to:	Eversheds Sutherland (US) LLP

The Grace Building, 40TH Floor

 1114 Avenue of the Americas

New York, New York 10036-7703

Attn: John J. Busillo, Esq.

Facsimile: (212) 389-5099

 

AMENDED
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	If to Administrative Agent: 	Capital One, National Association

                                                                                77 W. Wacker Drive, 10TH Floor

                                                                                Chicago, Illinois 60601

                                                                                Attention: Jeffrey Muchmore, Credit Executive Facsimile: (855) 332-1699

                                                                                Reference: HTI/MOB Portfolio

 

	With a copy to: 	Capital One, National Association

                                                                                5804 Trailridge Drive

                                                                                Austin, Texas 78731

                                                                                Attention: Diana Pennington, Senior Director,

                                                                                Associate General Counsel

                                                                                Facsimile: (855) 438-1132

                                                                                Reference: HTI/MOB Portfolio

 

	With a copy to: 	Capital One, National Association

                                                                                77 W. Wacker Drive, 10TH Floor 

                                                                                Chicago, Illinois 60601

                                                                                Attention: Dan Eppley, Senior Director

                                                                                Facsimile: (855) 544-4044

                                                                                Reference: HTI/MOB Portfolio

 

	With a copy to: 	Capital One, National Association

                                                                                77 W. Wacker Drive, 10TH Floor

                                                                                Chicago, Illinois 60601

                                                                                Attention: Jason LaGrippe, Vice President

                                                                                Facsimile: (312) 739-3870

                                                                                Reference: HTI/MOB Portfolio

 

	If to a Lender:	To the address in the administrative details

                                                                                provided by such Lender to Administrative

                                                                                Agent

 

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

 

(b)       Electronic
Communications. Notices and other communications to Lenders hereunder may be delivered or furnished pursuant to an
E-System pursuant to procedures approved by Administrative Agent. Administrative Agent or Borrowers may, in its discretion,
agree to accept notices and other communications to it hereunder pursuant to an E-System pursuant to procedures approved by
it; provided that approval of such procedures may be limited to particular notices or communications.

 

AMENDED
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Unless otherwise agreed
to by the parties, (i) notices and other communications sent to an e-mail address shall be deemed received upon the sender’s
receipt of an acknowledgement from the intended recipient (such as by the “return receipt requested” function, as available,
return e-mail or other written acknowledgement), and (ii) if a party has explicitly agreed in writing to accept notice pursuant
to E-System, notices or communications posted to an Internet or intranet website shall be deemed received upon the deemed receipt
by the intended recipient, at its e-mail address as described in the foregoing clause (i), of notification that such notice or
communication is available and identifying the website address therefor; provided that, for both clauses (i) and (ii) above,
if such notice, email or other communication is not sent during the normal business hours of the recipient, such notice or communication
shall be deemed to have been sent at the opening of business on the next business day for the recipient.

 

(c)       Change
of Address, etc. Any party hereto may change its address or facsimile number for notices and other communications hereunder
by notice to the other parties hereto.

 

(d)       E-System.

 

(i)                
Each Borrower Party agrees that Administrative Agent may, but shall not be obligated to, make the Communications (as defined
below) available to Lenders by posting the Communications on the Platform.

 

(ii)             
The E-System is provided “as is” and “as available.” The Agent Parties (as defined below) do not
warrant the adequacy of the E-System and expressly disclaim liability for errors or omissions in the Communications. No warranty
of any kind, express, implied or statutory, including, without limitation, any warranty of merchantability, fitness for a particular
purpose, non-infringement of third-party rights or freedom from viruses or other code defects, is made by any Agent Party in connection
with the Communications or the E-System. In no event shall Administrative Agent or any of its Related Parties (collectively, the
“Agent Parties”) or any Lender have any liability to Borrowers, any Lender or any other Person or entity
for damages of any kind, including, without limitation, direct or indirect, special, incidental or consequential damages, losses
or expenses (whether in tort, contract or otherwise) arising out of Borrowers or Administrative Agent’s transmission of communications
through the E-System. “Communications” means, collectively, any notice, demand, communication, information,
document or other material provided by or on behalf of the Borrower Parties pursuant to any Loan Document or the transactions contemplated
therein which is distributed to Administrative Agent or any Lender by means of electronic communications pursuant to this Section,
including through the E-System.

 

AMENDED
AND RESTATED LOAN AGREEMENT – PAGE 103

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Section 11.2      
Amendments and Waivers.

 

(a)              
No amendment or waiver of any provision of any Loan Document (excluding any Secured Hedge Agreement) or the Environmental
Indemnity Agreement and no consent to any departure by any Borrower or any other Borrower Party therefrom shall be effective unless
the same shall be in writing and signed (1) in the case of an amendment, consent or waiver to cure any ambiguity, omission,
defect or inconsistency or granting a new Lien for the benefit of the Secured Parties or extending an existing Lien over additional
property, by Administrative Agent and Borrowers, (2) in the case of any other waiver or consent, by the Required Lenders (or
by Administrative Agent with the written consent of the Required Lenders) and (3) in the case of any other amendment, by the
Required Lenders (or by Administrative Agent with the consent of the Required Lenders) and Borrowers; provided, however,
that no amendment, consent or waiver described in clause (2) or (3) above shall be effective, unless in writing
and signed by each Lender (or by Administrative Agent with the consent of Lenders), in addition to any other Person the signature
of which is otherwise required pursuant to any Loan Document or the Environmental Indemnity Agreement, and such amendment, consent
or waiver does any of the following:

 

(i)             waives any condition precedent to the effectiveness of this Agreement, except any condition referring to any other provision
of any Loan Document or the Environmental Indemnity Agreement;

 

(ii)            increases the Loan Commitment of any Lender or subjects any Lender to any additional obligation or otherwise increases the
principal amount of the Loan;

 

(iii)           reduces (including through release, forgiveness, assignment or otherwise) (A) the principal amount of, the interest
rate on, or any obligation of Borrowers to repay (whether or not on a fixed date), any outstanding amount under the Loan owing
to Lenders or (B) any fee or accrued interest payable to any Lender; provided, however, that this clause (iii)
does not apply to (x) any change to any provision increasing any interest rate or fee during the continuance of an Event of
Default or to any payment of any such increase or (y) any modification to any financial covenant set forth in Article 7
or the Recourse Guaranty Agreement or in any definition set forth therein or principally used therein;

 

(iv)           waives or postpones any scheduled maturity date or other scheduled date fixed for the payment, in whole or in part, of principal
of or interest on the Loan (including any agreement to forbear that would have the same effect) or fee owing to such Lender or
for the reduction of such Lender’s Loan Commitment; provided, however, that this clause (iv) does
not apply to any change to mandatory prepayments, including those required under the Agreement, or to the application of any payment,
including as set forth in Section 2.7;

 

(v)            releases all or substantially all of the Collateral or any Guarantor from their guaranty of any Obligation of Borrowers
(other than releases pursuant to Section 2.18 hereof);

 

(vi)           reduces or increases the proportion of Lenders required for Lenders (or any subset thereof) to take any action hereunder
or change the definition of the terms “Required Lenders,” “Pro Rata Share,” or “Pro Rata Outstandings”;
or

 

(vii)         
amends Section 11.7 (Sharing of Payments, Etc.) or this Section 11.2.

 

AMENDED
AND RESTATED LOAN AGREEMENT – PAGE 104

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(b)              
Anything herein to the contrary notwithstanding, (A) any waiver of any payment applied pursuant to Section 2.6
(Application of Payments) to, and any modification of the application of any such payment to the Loan shall require the consent
of the Required Lenders, (B) no amendment, waiver or consent shall affect the rights or duties under any Loan Document or
the Environmental Indemnity Agreement of, or any payment to, Administrative Agent (or otherwise modify any provision of Article
11 or the application thereof) without the written consent of Administrative Agent, and (C) (1) no Defaulting Lender
shall have any right to approve or disapprove any amendment, waiver or consent hereunder, except that (x) the Loan Commitment
or Pro Rata Share of such Lender may not be increased or extended without the consent of such Lender, (y) the outstanding
balance of such Lender’s Pro Rata Share of the Loan may not be forgiven without the consent of such Lender, and (z) the
interest rate on the Loan cannot be reduced unless the Defaulting Lender is treated the same as all other Lenders; (2) each
Lender is entitled to vote as such Lender sees fit on any bankruptcy or insolvency reorganization plan that affects the Loan; (3) each
Lender acknowledges that the provisions of Section 1126(c) of the Bankruptcy Code supersedes the unanimous consent provisions
set forth herein; and (4) the Required Lenders may consent to allow Borrowers to use cash collateral in the context of a bankruptcy
or insolvency proceeding.

 

(c)              
Each waiver or consent under any Loan Document (including the Recourse Guaranty Agreement and any Payment Guaranty) or the
Environmental Indemnity Agreement shall be effective only in the specific instance and for the specific purpose for which it was
given. No notice to or demand on any Borrower or any other Borrower Party shall entitle such Person to any notice or demand in
the same, similar or other circumstances. No failure on the part of any Secured Party to exercise, and no delay in exercising,
any right hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such right preclude any
other or further exercise thereof or the exercise of any other right.

 

(d)              
This Agreement and the other Loan Documents and the Environmental Indemnity Agreement shall not be executed, entered into,
altered, amended, or modified by electronic means. Without limiting the generality of the foregoing, Borrowers, Administrative
Agent, and each Lender hereby agree that the transactions contemplated by this Agreement shall not be conducted by electronic means,
except as specifically set forth in Section 11.1 regarding notices. Any reference to a Loan Document or the Environmental
Indemnity Agreement, whether in this Agreement or in any other Loan Document or the Environmental Indemnity Agreement, shall be
deemed to be a reference to such Loan Document or the Environmental Indemnity Agreement as it may hereafter from time to time be
amended, modified, supplemented and restated in accordance with the terms hereof.

 

(e)               Unless
also consented to in writing by such Secured Hedge Provider or by CONA in the case of a Secured Hedge Agreement provided or
arranged by CONA or an Affiliate of CONA, no such amendment, waiver or consent with respect to this Agreement or any other
Loan Document or the Environmental Indemnity Agreement shall (i) alter the ratable treatment of Obligations
arising under the Secured Hedge Agreement such that such Obligations become junior in right of payment to principal on the
Loan or (ii) result in Obligations owing to any Secured Hedge Provider becoming unsecured (other than releases of Liens
applicable to all Lenders and otherwise permitted in accordance with the terms hereof), in each case in a manner adverse to
such Secured Hedge Provider.

 

AMENDED
AND RESTATED LOAN AGREEMENT – PAGE 105

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(f)                  
Notwithstanding anything to the contrary contained in this Section 11.2, Agent and Borrowers may amend or modify
this Agreement and any other Loan Document to (1) cure any ambiguity, omission, defect or inconsistency therein so long such
amendment, modification or supplement is not adverse to the interests of Lenders and (2) grant a new Lien for the benefit
of the Secured Parties, extend an existing Lien over additional property for the benefit of the Secured Parties or join additional
Persons as Borrower Parties.

 

(g)                 
In the event that any Lender (a “Non-Consenting Lender”) fails to consent to any proposed amendment,
modification, termination, waiver or consent with respect to any provision hereof or of any other Loan Document that requires the
unanimous approval of all of Lenders or the approval of all of Lenders directly affected thereby, in each case, in accordance with
the terms of this Section, Borrowers shall be permitted to (i) so long as no Event of Default then exists, repay in full all
outstanding Obligations owed to such Lender and terminate in full all Commitments held by such Non-Consenting Lenders, or (ii) require
such Non-Consenting Lender to assign its applicable pro rata share of the Loan, to one or more financial institutions reasonably
satisfactory to Administrative Agent, so long as the consent of the Required Lenders shall have been obtained with respect to such
amendment, modification, termination, waiver or consent; provided that (A) such assignment does not conflict with any
Requirement of Law, (B) the assignee or assignees shall purchase, at par, all Obligations with respect to the applicable Loans
owing to the Non-Consenting Lender pursuant to the Loan Documents on or prior to the date of such assignment, (C) the assignee
or assignees shall approve the proposed amendment, modification, termination, waiver or consent, (D) the Non-Consenting Lender
shall be obligated to make such assignment in accordance with the provisions of Section 11.3(b) hereof (provided that
Borrowers shall be obligated to pay the administrative fee referred to in Section 11.3(b)(iv) hereof), and (E) until
such time as such assignment shall be consummated, Borrowers shall pay to the Non-Consenting Lender all additional amounts (if
any) required pursuant to Sections 2.8, 2.9, 2.10 and 2.17, as the case may be. With respect to
both (i) and (ii) above, (A) the Borrower Representative shall provide at least three (3) Business Days’ prior notice
to the Non-Consenting Lender of such repayment or assignment, (B) Borrowers shall be liable to the Non-Consenting Lender for
all costs payable to it hereunder and under the other Loan Documents (including, without limitation, any LIBOR Breakage), and (C) any
such repayment or assignment shall not be deemed to be a waiver of any rights that Borrowers, Administrative Agent or any other
Lender shall have against the Non-Consenting Lender. In the event any Non-Consenting Lender fails to execute the agreements required
under Section 11.3 hereof in connection with an assignment pursuant to this Section, the Borrower Representative may,
upon two (2) Business Days’ prior notice to the Non-Consenting Lender, execute such agreements on behalf of the Non-Consenting
Lender, and each such Lender hereby grants to the Borrower Representative an irrevocable power of attorney (which shall be coupled
with an interest) for such purpose.

 

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AND RESTATED LOAN AGREEMENT – PAGE 106

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(h)                  If
a Lender does not notify or inform Administrative Agent of whether or not it consents to, or approves of or agrees to any
matter of any nature whatsoever with respect to which the unanimous consent, approval or agreement of all Lenders is
required under the express provisions of this Agreement, within ten (10) Business Days (or such longer period as may be
specified by Administrative Agent) after such unanimous Lender consent, approval or agreement is requested by Administrative
Agent, such Lender shall be deemed to have rejected such request for consent, approval or agreement, as the case may be, with
respect to the matter in question. For any matter not expressly requiring the unanimous consent of all Lenders, if a Lender
does not notify or inform Administrative Agent of whether or not it consents to, or approves of or agrees to any matter of
any nature whatsoever with respect to which its consent, approval or agreement is required under the express provisions of
this Agreement or with respect to which its consent, approval or agreement is otherwise requested by Administrative Agent, in
each case, with the following language prominently displayed at the top and on the cover of any such request in ALL CAPS,
boldface, 14 point type or larger: “IMMEDIATE RESPONSE REQUIRED, CONSENT DEEMED GIVEN IF NO RESPONSE WITHIN 10
BUSINESS DAYS” in connection with the Loan or any matter pertaining to the Loan, within ten (10) Business Days (or
such longer period as may be specified by Administrative Agent) after such consent, approval or agreement is requested by
Administrative Agent, then Administrative Agent shall provide a second request for consent, approval or agreement to such
Lender, in each case, with the following language prominently displayed at the top and on the cover of any such request in
ALL CAPS, boldface, 14 point type or larger: “IMMEDIATE RESPONSE REQUIRED, CONSENT DEEMED GIVEN IF NO RESPONSE
WITHIN 5 BUSINESS DAYS”, and if such Lender does not notify or inform Administrative Agent of whether it consents,
approves or agrees within five (5) Business Days of such second request, Lender shall be deemed to have given its consent,
approval or agreement, as the case may be, with respect to the matter in question.

 

Section 11.3      
Successors and Assigns.

 

(a)                 
The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective
successors and assigns permitted hereby, except that none of Borrowers may assign or otherwise transfer any of its rights or obligations
hereunder without the prior written consent of each Lender and no Lender may assign or otherwise transfer any of its rights or
obligations hereunder except (i) to an Eligible Assignee in accordance with the provisions of clause (b) of this
Section 11.3, (ii) by way of participation in accordance with the provisions of clause (e) of this
Section 11.3, and (iii) by way of pledge or assignment to secure obligations to a Federal Reserve Bank or any central
bank having jurisdiction over such Lender in accordance with the provisions of clause (g) of this Section 11.3
(and any other attempted assignment or transfer by any party hereto shall be null and void). Nothing in this Agreement, expressed
or implied, shall be construed to confer upon any Person (other than the parties hereto, their respective successors and assigns
permitted hereby, Participants to the extent provided in and permitted by clause (e) of this Section 11.3
and, to the extent expressly contemplated hereby, the Affiliates of each of Administrative Agent and Lenders) any legal or equitable
right, remedy or claim under or by reason of this Agreement.

 

(b)                 
Any Lender may at any time assign to one or more Eligible Assignees all or a portion of its rights and obligations under
this Agreement (including all or a portion of its Commitments and the Loans at the time owing to it); provided that:

 

AMENDED
AND RESTATED LOAN AGREEMENT – PAGE 107

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(i)                
(A) in the case of an assignment of the entire remaining amount of the assigning Lender’s applicable portion
of the Loan at the time owing to it or in the case of an assignment to a Lender, an Affiliate of a Lender, or an Approved Fund,
no minimum amount need be assigned and (B) in any case not described in clause (b)(i)(A) above, a portion of the
principal outstanding balance of the Loans of the assigning Lender subject to each assignment (determined as of the date the Assignment
Agreement with respect to such assignment is delivered to Administrative Agent or, if “Trade Date” is specified
in the Assignment Agreement, as of the Trade Date) provided such portion shall not be less than $10,000,000 (unless Administrative
Agent and, so long as no Event of Default is continuing, Borrower Representative otherwise consents, such consent not to be unreasonably
withheld or delayed);

 

(ii)             
each partial assignment shall be made as an assignment of a proportionate part of all the assigning Lender’s rights
and obligations under both this Agreement with respect to the Loans;

 

(iii)           
no consent shall be required for any assignment except to the extent required by Section 11.3(b)(i) and, in
addition:

 

(A)            
so long as no Event of Default is continuing, the consent of the Borrower Representative (such consent not to be unreasonably
withheld or delayed) shall be required unless such assignment is to a Lender, an Affiliate of a Lender, or an Approved Fund of
any existing Lender; provided that the Borrower Representative shall be deemed to have consented to any such assignment
unless it shall object thereto by written notice to Administrative Agent within ten (10) Business Days after having received notice
thereof; provided, further, that Borrowers’ consent shall not be required during the primary syndication of
the Loan; and

 

(B)             
the consent of Administrative Agent (such consent not to be unreasonably withheld or delayed) shall be required for assignments
in respect of the Loan to a Person who is not a Lender, an Affiliate of a Lender or an Approved Fund.

 

(iv)            
the parties to each assignment shall execute and deliver to Administrative Agent an Assignment Agreement, with such assignment
becoming effective upon written acknowledgement and acceptance by Administrative Agent (and receipt of all applicable consents
required pursuant to the terms hereof), together with an administrative fee of $3,500 (other than for assignments to Lenders or
Affiliates (including any Approved Fund) of Lenders), and the Eligible Assignee, if it shall not be a Lender, shall deliver to
Administrative Agent an Administrative Questionnaire; and

 

(v)              
If required by Requirement of Law, each Lender shall, and shall cause each of its assignees to, provide to Administrative
Agent on or prior to the effective date of any assignment an appropriate form supporting such Lender’s or assignee’s
position that no withholding by the Borrower Representative or Administrative Agent for income tax payable by such Lender or assignee
in respect of amounts received by it hereunder is required.

 

(c)                  Subject
to acceptance and recording thereof by Administrative Agent pursuant to clause (d) of this Section 11.3,
from and after the effective date specified in each Assignment Agreement for purposes of which each Lender agrees to provide
Administrative Agent prompt written notice of any assignments of its interests hereunder, the Eligible Assignee thereunder
shall be a party to this Agreement and, to the extent of the interest assigned by such Assignment Agreement, have the rights
and obligations of a Lender under this Agreement, and the assigning Lender thereunder shall, to the extent of the interest
assigned by such Assignment Agreement, be released from its obligations under this Agreement (and, in the case of an
Assignment Agreement covering all of the assigning Lender’s rights and obligations under this Agreement, such Lender
shall cease to be a party hereto) but shall continue to be entitled to the benefits of Sections 2.8, and 2.9
hereof with respect to facts and circumstances occurring prior to the effective date of such assignment.

 

AMENDED
AND RESTATED LOAN AGREEMENT – PAGE 108

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(d)                 
Administrative Agent, acting solely for this purpose as an agent of Borrowers, shall maintain at one of its offices specified
in Section 11.1, a copy of each Assignment Agreement delivered to it and the Register required pursuant to Section 2.12(b).

 

(e)                 
Any Lender may at any time, without the consent of, or notice to, Borrowers or Administrative Agent sell participations
to any Person (other than a natural person or Borrowers or any of the Borrowers’ Affiliates or Subsidiaries) (each, a “Participant”)
in all or a portion of such Lender’s rights and/or obligations under this Agreement (including all or a portion of its Commitments
and/or the applicable portion of the Loan owing to it); provided that (i) such Lender’s obligations under this Agreement
shall remain unchanged, (ii) such Lender shall remain solely responsible to the other parties hereto for the performance of
such obligations and (iii) the Guarantor, Borrowers, Administrative Agent and the other Lenders shall continue to deal solely
and directly with such Lender in connection with such Lender’s rights and obligations under this Agreement. Any agreement
or instrument pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the sole right
to enforce this Agreement and to approve any amendment, modification or waiver of any provision of this Agreement; provided that
such agreement or instrument may provide that such Lender will not, without the consent of the Participant, agree to any amendment,
modification or waiver with respect to the right to approve or disapprove decreases in the interest rate, increases in the principal
amount of the Loans participated in by such Participant, decreases in fees, extensions of any Maturity Date, or other dates of
the scheduled principal repayments of the Loans set forth in Section 2.3 hereof and any release of all or substantially
all of the Collateral for the Loans (other than Collateral disposed of in accordance with the provisions of this Agreement). Each
Lender, acting solely for this purpose as an agent of Borrowers, shall maintain at one of its offices a register for the recordation
of the names and addresses of its Participants, and the principal amount and stated interest of each Participant’s interest
in the Loans or other obligations under the Loan Documents (the “Participant Register”); provided,
that no Lender shall have any obligation to disclose all or any portion of the Participant Register (including the identity of
any Participant or any information relating to a Participant’s interest in any Loan Commitments, the Loan, or its other obligations
under any Loan Document) to any Person except to the extent that such disclosure is necessary to establish that such Loan Commitment,
the Loan, or other obligation is in registered form under

Section 5f.103-1(c) of the United States Treasury Regulations.

 

(f)               
[Reserved].

 

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(g)                 
Any Lender may at any time pledge or assign a security interest in all or any portion of its rights under this Agreement
to secure obligations of such Lender, including without limitation any pledge or assignment to secure obligations to a Federal
Reserve Bank or any central bank having jurisdiction over such Lender; provided that no such pledge or assignment shall release
such Lender from any of its obligations hereunder or substitute any such pledgee or assignee for such Lender as a party hereto.

 

(h)                 
Subject to the confidentiality provisions set forth herein, Lender may furnish any information concerning Borrowers or any
of their Affiliates in the possession of such Lender from time to time to assignees, participants and pledgees, including prospective
assignees, participants and to Borrowers or Affiliates. Anything in this Section 11.3 to the contrary notwithstanding,
no Lender may assign or participate any interest in any Loan held by it hereunder to Borrowers or any of their Affiliates without
the prior written consent of each Lender.

 

Section 11.4      
Indemnity.

 

(a)                 
Each Borrower Party agrees to indemnify, hold harmless and defend Agent, each Lender and each of their respective Related
Persons (each such Person being an “Indemnitee”) from and against all Liabilities (including brokerage
commissions, fees and other compensation) that may be imposed on, incurred by or asserted against any such Indemnitee in any matter
relating to or arising out of, in connection with or as a result of (i) any Loan Document, any Obligation (or the repayment
thereof), the use or intended use of the proceeds of any Loan or any securities filing of, or with respect to, any Borrower Party,
(ii) [reserved], (iii) any actual or prospective investigation, litigation or other proceeding, whether or not brought
by any such Indemnitee or any of its Related Persons, any holders of securities or creditors (and including reasonable, out-of-pocket,
attorneys’ fees in any case), whether or not any such Indemnitee, Related Person, holder or creditor is a party thereto,
and whether or not based on any securities or commercial law or regulation or any other Requirement of Law or theory thereof, including
common law, equity, contract, tort or otherwise, or (iv) any other act, event or transaction related, contemplated in or attendant
to any of the foregoing (collectively, the “Indemnified Matters”); provided, however, that
no Borrower Party shall have any liability under this Section 11.4 to any Indemnitee with respect to any Indemnified
Matter, and no Indemnitee shall have any liability with respect to any Indemnified Matter other than (to the extent otherwise liable),
to the extent such liability has resulted from (x) the gross negligence or willful misconduct of any Indemnitee, as determined
by a court of competent jurisdiction in a final non-appealable judgment or order or (y) any dispute solely between or among
Indemnitees that has not resulted from an action or omission by any Borrower Party as determined by a court of competent jurisdiction
in a final non-appealable judgment or order, except that Administrative Agent shall remain indemnified in such capacity. Furthermore,
each Borrower and each other Borrower Party executing this Agreement waives and agrees not to assert against any Indemnitee, any
right of contribution with respect to any Liabilities that may be imposed on, incurred by or asserted against any Related Person.
For purposes of this Section 11.4, Liabilities shall not include any amount for or on account of Excluded Taxes or
Taxes specifically addressed in Section 2.17.

 

(b)              
Without limiting the foregoing, “Indemnified Matters” includes all matters subject to indemnification under
the Environmental Indemnity Agreement.

 

AMENDED
AND RESTATED LOAN AGREEMENT – PAGE 110

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Section 11.5      
Debtor-Creditor Relationship. The relationship between Lenders and Administrative Agent, on the one hand, and
Borrowers, on the other hand, is solely that of debtor and creditor. No Secured Party has any fiduciary relationship or duty to
any Borrower or any other Borrower Party arising out of or in connection with, and there is no agency, tenancy or joint venture
relationship between the Secured Parties and Borrowers and any of the other Borrower Parties by virtue of, any Loan Document,
the Environmental Indemnity Agreement or any transaction contemplated therein.

 

Section 11.6      
Right of Setoff. Each of Administrative Agent, each Lender, and each Affiliate (including each branch office
thereof) of any of them is hereby authorized, without notice or demand (each of which is hereby waived by Borrowers), at any time
after an Event of Default and from time to time during the continuance of any Event of Default and to the fullest extent permitted
by applicable Requirements of Law, to set off and apply any and all deposits of Borrowers (whether general or special, time or
demand, provisional or final) at any time held and other indebtedness, claims or other obligations at any time owing by Administrative
Agent, such Lender, or any of their respective Affiliates to or for the credit or the account of Borrowers against any Obligation
of any Borrower or any other Borrower Party now or hereafter existing, whether or not any demand was made under any Loan Document
or the Environmental Indemnity Agreement with respect to such Obligation. Each of Administrative Agent and each Lender agrees promptly
to notify Borrowers and Administrative Agent after any such setoff and application made by such Lender or its Affiliates; provided,
however, that the failure to give such notice shall not affect the validity of such setoff and application. The rights under
this Section 11.6 are in addition to any other rights and remedies (including other rights of setoff) that Administrative
Agent, Lenders, and their Affiliates and other Secured Parties may have.

 

Section 11.7      
Sharing of Payments, Etc. If any Lender, directly or through an affiliate or branch office thereof, obtains any
payment of any Obligation of any Borrower or any other Borrower Party (whether voluntary, involuntary or through the exercise of
any right of setoff or the receipt of any Collateral or “proceeds” (as defined under the applicable UCC) of Collateral)
other than pursuant to Section 2.8 (Increased Costs), 2.10 (Interest Rate Protection) and Section 2.11
(Libor Breakage Amount) and such payment exceeds the amount such Lender would have been entitled to receive if all payments had
gone to, and been distributed by, Administrative Agent in accordance with the provisions of the Loan Documents, such Lender shall
purchase for cash from other Secured Parties such participations in their Obligations as necessary for such Lender to share such
excess payment with such Secured Parties to ensure such payment is applied as though it had been received by Administrative Agent
and applied in accordance with this Agreement (or, if such application would then be at the discretion of Borrowers, applied to
repay the Obligations in accordance herewith); provided, however, that (a) if such payment is rescinded or otherwise
recovered from such Lender in whole or in part, such purchase shall be rescinded and the purchase price therefor shall be returned
to such Lender without interest and (b) such Lender shall, to the fullest extent permitted by applicable Requirements of Law,
be able to exercise all its rights of payment (including the right of setoff) with respect to such participation as fully as if
such Lender were the direct creditor of Borrowers in the amount of such participation.

 

Section
11.8       Marshaling;
Payments Set Aside. No Secured Party shall be under any obligation to marshal any property in favor of any Borrower
or any other Borrower Party or any other party or against or in payment of any Obligation. To the extent that any Secured
Party receives a payment from any Borrower or any other Borrower Party, from the proceeds of the Collateral, from
the exercise of its rights of setoff, any enforcement action or otherwise, and such payment is subsequently, in whole or in
part, invalidated, declared to be fraudulent or preferential, set aside or required to be repaid to a trustee, receiver or
any other party, then to the extent of such recovery, the obligation or part thereof originally intended to be satisfied, and
all Liens, rights and remedies therefor, shall be revived and continued in full force and effect as if such payment had not
occurred.

 

AMENDED
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Section 11.9      
Limitation on Interest. It is the intention of the parties hereto to conform strictly to applicable usury laws.
Accordingly, all agreements between Borrowers, Administrative Agent and Lenders with respect to the Loan are hereby expressly limited
so that in no event, whether by reason of acceleration of maturity or otherwise, shall the amount paid or agreed to be paid to
Administrative Agent and any Lender or charged by Administrative Agent or any Lender for the use, forbearance or detention of the
money to be lent hereunder or otherwise, exceed the maximum amount allowed by law. If the Loan would be usurious under applicable
law (including the laws of the State of New York and the laws of the United States of America), then, notwithstanding anything
to the contrary in the Loan Documents: (a) the aggregate of all consideration which constitutes interest under applicable
law that is contracted for, taken, reserved, charged or received under the Loan Documents and the Environmental Indemnity Agreement
shall under no circumstances exceed the maximum amount of interest allowed by applicable law, and any excess shall be credited
on the Note by the holder thereof (or, if the Note has been paid in full, refunded to Borrowers); and (b) if maturity is accelerated
by reason of an election by Administrative Agent permitted by the express terms of the Loan Documents, or in the event of any prepayment,
then any consideration which constitutes interest may never include more than the maximum amount allowed by applicable law. In
such case, excess interest, if any, provided for in the Loan Documents and the Environmental Indemnity Agreement, or otherwise,
to the extent permitted by applicable law, shall be amortized, prorated, allocated and spread from the date of advance until payment
in full so that the actual rate of interest is uniform through the term hereof. If such amortization, proration, allocation and
spreading is not permitted under applicable law, then such excess interest shall be canceled automatically as of the date of such
acceleration or prepayment and, if theretofore paid, shall be credited on the Note (or, if the Note has been paid in full, refunded
to Borrowers). The terms and provisions of this Section 11.9 shall control and supersede every other provision of the
Loan Documents. The Loan Documents and the Environmental Indemnity Agreement are contracts made under and shall be construed in
accordance with and governed by the laws of the State of New York, except that if at any time the laws of the United States of
America permit Administrative Agent or Lenders to contract for, take, reserve, charge or receive a higher rate of interest than
is allowed by the laws of the State of New York (whether such federal laws directly so provide or refer to the law of any state),
then such federal laws shall to such extent govern as to the rate of interest which Administrative Agent or Lenders may contract
for, take, reserve, charge or receive under the Loan Documents and the Environmental Indemnity Agreement.

 

Section
11.10   Invalid
Provisions. If any provision of any Loan Document or the Environmental Indemnity Agreement is held to be illegal,
invalid or unenforceable, such provision shall be fully severable; the Environmental Indemnity Agreement and the
Loan Documents shall be construed and enforced as if such illegal, invalid or unenforceable provision had never comprised a
part thereof; the remaining provisions thereof shall remain in full effect and shall not be affected by the illegal, invalid,
or unenforceable provision or by its severance therefrom; and in lieu of such illegal, invalid or unenforceable provision
there shall be added automatically as a part of such Environmental Indemnity Agreement and/or such Loan Document a provision
as similar in terms to such illegal, invalid or unenforceable provision as may be possible to be legal, valid and
enforceable.

 

AMENDED
AND RESTATED LOAN AGREEMENT – PAGE 112

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Section 11.11  
Reimbursement of Expenses. Any action taken by any Borrower or any other Borrower Party under or with respect
to any Loan Document, the Environmental Indemnity Agreement, even if required under any Loan Document or the Environmental Indemnity
Agreement or at the request of any Secured Party, shall be at the expense of or such Borrower or Borrower Party, and no Secured
Party shall be required under any Loan Document or the Environmental Indemnity Agreement to reimburse any Borrower or any other
Borrower Party therefor except as expressly provided therein. In addition, Borrowers jointly and severally agree to pay or reimburse
upon demand, except as expressly otherwise provided herein (a) Administrative Agent for all reasonable and documented out-of-pocket
costs and expenses incurred by it or any of its Related Persons in connection with the investigation, development, preparation,
negotiation, syndication, execution, interpretation or administration of, any modification of any term of or termination of, any
Loan Document or the Environmental Indemnity Agreement, any commitment or proposal letter therefor, any other document prepared
in connection therewith or the consummation and administration of any transaction contemplated therein (including periodic audits
in connection therewith and environmental audits and assessments limited to once per year absent an Event of Default), in each
case including the reasonable fees, charges and disbursements of legal counsel to Administrative Agent or such Related Persons,
fees, costs and expenses incurred in connection with Intralinks®, Syndtrak®, or any other E-System and allocated to the
Loan by Administrative Agent in its sole discretion and fees, charges and disbursements of the auditors, appraisers, printers and
other of their Related Persons retained by or on behalf of any of them or any of their Related Persons, (b) Administrative
Agent and each Lender for all reasonable costs and expenses incurred by them or any of their Related Persons in connection with
internal audit reviews, field examinations, financial investigation, and Collateral examinations, including, without limitation,
any tax service company, (c) each of Administrative Agent, its Related Persons, and each Lender for all costs and expenses
incurred in connection with (i) any refinancing or restructuring of the credit arrangements provided hereunder in the nature
of a “work-out”, (ii) the enforcement or preservation of any right or remedy with respect to any Obligation, the
Collateral or under any Loan Document or the Environmental Indemnity Agreement, or any other related right or remedy or (iii) the
commencement, defense, conduct of, intervention in, or the taking of any other action with respect to, any proceeding (including
any bankruptcy or insolvency proceeding) related to any Borrower Party, any Loan Document, the Environmental Indemnity Agreement,
any Obligation or related transaction (or the response to and preparation for any subpoena or request for document production relating
thereto), including reasonable fees and disbursements of outside counsel, (d) costs incurred in connection with settlement
of condemnation and casualty awards, premiums for title insurance and endorsements thereto, and (e) fees and costs for Uniform
Commercial Code and litigation searches and background checks customarily undertaken by Administrative Agent or any Lenders.

 

AMENDED
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Section
11.12    Approvals;
Third Parties; Conditions. All approval rights retained or exercised by Administrative Agent or Lenders with respect
to Leases, contracts, plans, studies and other matters are solely to facilitate Administrative Agent’s and
Lenders’ credit underwriting and shall not be deemed or construed as a determination that Administrative Agent or
Lenders have passed on the adequacy thereof for any other purpose and may not be relied upon by Borrowers or any other
Person. This Agreement is for the sole and exclusive use of Administrative Agent (and its successors and permitted assigns),
Lenders (and their successors and permitted assigns and participants), and Borrowers and may not be enforced, nor relied
upon, by any Person other than Administrative Agent (and its successors and permitted assigns), Lenders (and their successors
and permitted assigns and participants), and Borrowers. All conditions of the obligations of Administrative Agent and Lenders
hereunder, including the obligation to make advances, are imposed solely and exclusively for the benefit of Administrative
Agent and Lenders, their successors and assigns, and no other Person shall have standing to require satisfaction of such
conditions or be entitled to assume that any Lender will refuse to make advances in the absence of strict compliance with any
or all of such conditions, and no other Person shall, under any circumstances, be deemed to be a beneficiary of such
conditions, any and all of which may be freely waived in whole or in part by any Lender at any time in such Lender’s
sole discretion.

 

Section 11.13  
Administrative Agent and Lenders Not in Control; No Partnership. None of the covenants or other provisions contained
in this Agreement shall, or shall be deemed to, give Administrative Agent or Lenders the right or power to exercise control over
the affairs or management of Borrowers, the power of Administrative Agent and Lenders being limited to the rights to exercise the
remedies referred to in the Environmental Indemnity Agreement or the Loan Documents. No covenant or provision of the Environmental
Indemnity Agreement or the Loan Documents is intended, nor shall it be deemed or construed, to create a partnership, joint venture,
agency or common interest in profits or income among Administrative Agent and Lenders or any of them, on the one hand, and Borrowers,
on the other hand, or to create an equity interest in the Projects in Administrative Agent or any Lender. None of Administrative
Agent nor any Lender undertakes or assumes any responsibility or duty to Borrowers or to any other Person with respect to the Projects
or the Loan, except as expressly provided in the Environmental Indemnity Agreement and the Loan Documents; and notwithstanding
any other provision of the Environmental Indemnity Agreement or the Loan Documents: (a) none of Administrative Agent or any
Lender are, and shall not be construed as, a partner, joint venturer, alter ego, manager, controlling person or other business
associate or participant of any kind of Borrowers or Borrowers’ stockholders, members, or partners and Administrative Agent
and Lenders do not intend to ever assume such status; (b) Administrative Agent and Lenders shall in no event be liable for
any Debts, expenses or losses incurred or sustained by Borrowers; and (c) Administrative Agent and Lenders shall not be deemed
responsible for or a participant in any acts, omissions or decisions of Borrowers or any Borrower’s stockholders, members,
or partners. Administrative Agent and Lenders and Borrowers disclaim any intention to create any partnership, joint venture, agency
or common interest in profits or income among Administrative Agent and Lenders or any of them, on the one hand, and Borrowers,
on the other hand, or to create an equity interest in the Projects in Administrative Agent or Lenders, or any sharing of liabilities,
losses, costs or expenses.

 

AMENDED
AND RESTATED LOAN AGREEMENT – PAGE 114

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Section 11.14   Contest
of Certain Claims. Borrowers may contest the validity of Taxes or any mechanic’s or materialman’s or
other lien asserted against the Project so long as (a) Borrowers notify Administrative Agent that they intend to
contest such Taxes or liens, as applicable, (b) Borrowers provide Administrative Agent with an indemnity, bond or other
security reasonably satisfactory to Administrative Agent assuring the discharge of Borrowers’ obligations for such
Taxes or liens, as applicable, including interest and penalties, (c) Borrowers are diligently contesting the same by
appropriate legal proceedings in good faith and at their own expense and conclude such contest prior to the tenth
(10th) day preceding the earlier to occur of the Maturity Date or the date on which any Project are scheduled to
be sold for non-payment, and (d) Borrowers promptly upon final judicial determination thereof pay the amount of any such
Taxes or liens, as applicable, together with all costs, interest and penalties which may be payable in connection therewith.
Notwithstanding the foregoing, Borrowers shall immediately upon request of Administrative Agent pay any such Taxes or liens,
as applicable, notwithstanding such contest if, in the opinion of Administrative Agent, any Project or any part thereof or
interest therein may be in danger of being sold, forfeited, foreclosed, terminated, canceled or lost. Administrative Agent
may pay over any cash deposit or part thereof to the claimant entitled thereto at any time when, in the reasonable judgment
of Administrative Agent, the entitlement of such claimant is established.

 

Section 11.15  
Time of the Essence. Time is of the essence with respect to this Agreement.

 

Section 11.16  
Acknowledgement and Consent to Bail-In of EEA Financial Institutions. Notwithstanding anything to the contrary
in any Loan Document or in any other agreement, arrangement or understanding among any such parties, each party hereto acknowledges
that any liability of any EEA Financial Institution arising under any Loan Document, to the extent such liability is unsecured,
may be subject to the write-down and conversion powers of an EEA Resolution Authority and agrees and consents to, and acknowledges
and agrees to be bound by:

 

(a)                 
the application of any Write-Down and Conversion Powers by an EEA Resolution Authority to any such liabilities arising hereunder
which may be payable to it by any party hereto that is an EEA Financial Institution; and

 

(b)                 
the effects of any Bail-in Action on any such liability, including, if applicable:

 

(i)                
a reduction in full or in part or cancellation of any such liability;

 

(ii)             
a conversion of all, or a portion of, such liability into shares or other instruments of ownership in such EEA Financial
Institution, its parent undertaking, or a bridge institution that may be issued to it or otherwise conferred on it, and that such
shares or other instruments of ownership will be accepted by it in lieu of any rights with respect to any such liability under
this Agreement or any other Loan Document; or

 

(iii)           
the variation of the terms of such liability in connection with the exercise of the write-down and conversion powers of
any EEA Resolution Authority.

 

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Section 11.17  
Renewal, Extension or Rearrangement; Continued Effectiveness; No Novation.

 

(a)              
All provisions of the Environmental Indemnity Agreement and the Loan Documents shall apply with equal effect to each and
all promissory notes and amendments thereof hereinafter executed which in whole or in part represent a renewal, extension, increase
or rearrangement of the Loan.

 

(b)              
Anything contained herein to the contrary notwithstanding, this Agreement is not intended to and shall not serve to effect
a novation of the Obligations under the Original Loan Agreement. Instead, it is the express intention of the parties hereto to
reaffirm the indebtedness created under the Original Loan Agreement which is secured by the Collateral. It is expressly understood
and agreed that the grant and conveyance of a security interest in the Collateral is in confirmation of (and not replacement of)
the grant and conveyance of a security interest in the Collateral to the extent previously made pursuant to or in accordance with
the Original Loan Agreement; that the liens created by such prior grant and conveyance of a security interest in the Collateral
remain in full force and effect; and that the grant of and conveyance of a security interest in the Collateral pursuant hereto
shall be supplemental to such prior grant and conveyance. Each Borrower acknowledges and confirms that it has no defense (other
than the defense of indefeasible payment and/or performance), set off, claim or counterclaim arising prior to the Closing Date
against Administrative Agent and the Lenders with regard to the indebtedness, liabilities and obligations created under the Original
Loan Agreement and the liens and security interests granted pursuant to the Loan Documents secure the indebtedness, liabilities
and obligations of Borrowers to Administrative Agent and the Lenders under the Original Loan Agreement, as amended and restated
hereby, and that the term “Obligations” as used in the Loan Documents (or any other term used therein to describe or
refer to the indebtedness, liabilities and obligations of Borrowers to Administrative Agent and the Lenders under the Loan Documents)
includes, without limitation, the indebtedness, liabilities and obligations of Borrowers under this Agreement, as the same further
may be amended, modified, supplemented and/or restated from time to time. The Loan Documents and all agreements, instruments and
documents executed or delivered in connection with any of the foregoing shall each be deemed to be amended to the extent necessary
to give effect to the provisions of this Section. All references in the Loan Documents to the “Obligations” of the
Borrower Parties owing from time to time and at any time to Administrative Agent and the Lenders or other Secured Parties shall
be deemed to refer to, without limitation, the “Obligations” of Borrowers under, pursuant to and as defined in this
Agreement. All references in the Loan Documents to the “Loan Agreement” shall be deemed to refer to this Agreement.
All references in the Loan Documents to the “Loan Documents” shall be deemed to refer to the “Loan Documents”
as defined herein. Cross-references in the Loan Documents to particular section numbers in the Original Loan Agreement shall be
deemed to be cross-references to the corresponding sections, as applicable, of this Agreement.

 

(c)               Notwithstanding
the modifications effectuated by this Agreement of the representations, warranties and covenants of Original Borrowers
contained in the Original Loan Agreement, Original Borrowers acknowledge and agree that any causes of action or other rights
created in favor of Administrative Agent, Lenders and their successors or assigns arising out of the representations
and warranties of Credit Parties contained in or delivered in connection with the Original Loan Agreement shall survive the
execution and delivery of this Agreement.

 

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(d)              
All indemnification obligations of Original Borrowers pursuant to the Original Loan Agreement (including any arising from
a breach of the representations thereunder) shall survive the amendment and restatement of the Original Loan Agreement pursuant
to this Agreement.

 

Section 11.18  
Waivers.

 

(a)              
No course of dealing on the part of Administrative Agent or Lenders or their respective officers, employees, consultants
or agents, nor any failure or delay by Administrative Agent or any Lender with respect to exercising any right, power or privilege
of Administrative Agent or Lenders under the Environmental Indemnity Agreement and any of the Loan Documents, shall operate as
a waiver thereof.

 

(b)              
Each Borrower hereby waives any right under the UCC or any other applicable law to receive notice and/or copies of any filed
or recorded financing statements, amendments thereto, continuations thereof or termination statements and releases and excuses
Administrative Agent and each Lender from any obligation under the UCC or any other applicable law to provide notice or a copy
of any such filed or recorded documents.

 

(c)              
Cumulative Rights; Joint and Several Liability. Rights and remedies of Administrative Agent (on behalf of Lenders)
under the Environmental Indemnity Agreement and the Loan Documents shall be cumulative, and the exercise or partial exercise of
any such right or remedy shall not preclude the exercise of any other right or remedy. If more than one person or entity has executed
this Agreement as a “Borrower”, the obligations of all such persons or entities hereunder shall be joint and several.

 

Section 11.19  
Joint and Several Liability of all Borrowers.

 

(a)              
Each of Borrowers is accepting joint and several liability hereunder in consideration of the financial accommodation to
be provided by Lenders under this Agreement, for the mutual benefit, directly and indirectly, of each Borrower and in consideration
of the undertakings of each Borrower to accept joint and several liability for the obligations of each of them.

 

(b)               Each
Borrower hereby agrees such Borrower is, and each such Borrower’s successors and assigns are, jointly and
severally liable for, and hereby absolutely and unconditionally guarantees to Administrative Agent and Lenders and their
respective successors and assigns, the full and prompt payment (whether at stated maturity, by acceleration or otherwise) and
performance of, all of the Indebtedness and all other Obligations of Borrowers under any Loan or other Borrower Party under a
Secured Hedge Agreement, it being the intention of the parties hereto that all the Obligations shall be the joint and several
obligations of each Borrower without preferences or distinction among them. Each Borrower agrees that its guaranty obligation
hereunder is a continuing guaranty of payment and performance and not of collection, that its obligations under this Section 11.19
shall not be discharged until payment and performance, in full, of the Obligations has occurred, and that its obligations
under this Section 11.19 shall be absolute and unconditional.

 

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(c)              
If and to the extent that any Borrower shall fail to make any payment with respect to any of the Obligations hereunder as
and when due or to perform any of such Obligations in accordance with the terms thereof, then in each such event, the other Borrowers
will make such payment with respect to, or perform, such Obligation.

 

(d)              
Subject to Section 12.1 hereof, the guaranty obligations of each Borrower under the provisions of this Section 11.19
constitute full recourse obligations of such Borrower, enforceable against it to the full extent of its properties and assets,
irrespective of the validity, regularity or enforceability of this Agreement or any other circumstances whatsoever (except the
defense of payment), including the following:

 

(i)                
the genuineness, validity, regularity, enforceability or any future amendment of, or change in, this Agreement, any other
Loan Document, the Environmental Indemnity Agreement, or any other agreement, document or instrument to which any other Borrower
is or may become a party;

 

(ii)             
the absence of any action to enforce this Agreement (including this Section 11.19) or any other Loan Document
or the waiver or consent by Administrative Agent and Lenders with respect to any of the provisions thereof;

 

(iii)           
the existence, value or condition of, or failure to perfect any lien or any security for the Obligations or any action,
or the absence of any action, by Administrative Agent and Lenders in respect thereof (including the release of any such security);

 

(iv)            
the insolvency of any other Borrower;

 

(v)              
the institution of any proceeding under the Federal Bankruptcy Code, or any similar proceeding, by or against a Borrower
or Administrative Agent’s election in any such proceeding of the application of Section 1111(b)(2) of the Federal Bankruptcy
Code;

 

(vi)            
any borrowing or grant of a security interest by any Borrower as debtor-in-possession, under Section 364 of the Federal
Bankruptcy Code;

 

(vii)         
the disallowance, under Section 502 of the Federal Bankruptcy Code, of all or any portion of Administrative Agent’s
claim(s) for repayment of any of the Obligations; or

 

(viii)       
any other action or circumstances that might otherwise constitute a legal or equitable discharge or defense of a surety
or guarantor other than the payment and performance, in full, of the Obligations.

 

Each Borrower shall be regarded, and shall
be in the same position, as principal debtor with respect to the Obligations guaranteed hereunder.

 

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(e)              
Except as otherwise expressly provided herein, each Borrower hereby waives notice of acceptance of its joint and several
liability, notice of occurrence of any Potential Default or Event of Default (except to the extent notice is expressly required
to be given pursuant to the terms of this Agreement), or of any demand for any payment under this Agreement (except to the extent
demand is expressly required to be given pursuant to the terms of this Agreement), notice of any action at any time taken or omitted
by Administrative Agent or any Lender under or in respect of any of the Obligations hereunder, any requirement of diligence and,
generally, all demands, notices and other formalities of every kind in connection with this Agreement. Each Borrower hereby assents
to, and waives notice of, any extension or postponement of the time for the payment of any of the Obligations hereunder, the acceptance
of any partial payment thereon, any waiver, consent or other action or acquiescence by Lenders at any time or times in respect
of any default by any Borrower in the performance or satisfaction of any term, covenant, condition or provision of this Agreement,
any and all other indulgences whatsoever by Administrative Agent or Lenders in respect of any of the Obligations hereunder, and
the taking, addition, substitution or release, in whole or in part, at any time or times, of any security for any of such Obligations
or the addition, substitution or release, in whole or in part, of any Borrower. Without limiting the generality of the foregoing,
each Borrower assents to any other action or delay in acting or any failure to act on the part of Administrative Agent or any Lender,
including any failure strictly or diligently to assert any right or to pursue any remedy or to comply fully with applicable laws
or regulations thereunder which might, but for the provisions of this Section 11.19, afford grounds for terminating,
discharging or relieving such Borrower, in whole or in part, from any of its obligations under this Section 11.19,
it being the intention of each Borrower that, so long as any of the Obligations hereunder remain unsatisfied, the obligations of
such Borrower under this Section 11.19 shall not be discharged except by performance and then only to the extent of
such performance. The obligations of each Borrower under this Section 11.19 shall not be diminished or rendered unenforceable
by any winding up, reorganization, arrangement, liquidation, reconstruction or similar proceeding with respect to any Borrower,
Administrative Agent or any Lender. The joint and several liability of Borrowers hereunder shall continue in full force and effect
notwithstanding any absorption, merger, amalgamation or any other change whatsoever in the name, membership, constitution or place
of formation of any Borrower, Administrative Agent or any Lender.

 

(f)               
Notwithstanding anything to the contrary in this Agreement or in any other Loan Document or the Environmental Indemnity
Agreement, and except as set forth in Section 11.19(j), each Borrower hereby expressly and irrevocably subordinates
to payment of the Obligations any and all rights at law or in equity to subrogation, reimbursement, exoneration, contribution,
indemnification or set off and any and all defenses available to a surety, guarantor or accommodation co-obligor until the Obligations
are indefeasibly paid in full in cash. Each Borrower acknowledges and agrees that this subordination is intended to benefit Administrative
Agent and Lenders and shall not limit or otherwise affect such Borrower’s liability hereunder or the enforceability of this
Section 11.19, and that Administrative Agent, Lenders and their respective successors and assigns are intended third
party beneficiaries of the waivers and agreements set forth in this Section 11.19. For the avoidance of doubt, Borrowers
hereby agree to the foregoing subordination.

 

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(g)              
If Administrative Agent or any Lender may, under applicable Law, proceed to realize its benefits under any of the Loan Documents
or the Environmental Indemnity Agreement giving Administrative Agent or such Lender a lien upon any Collateral, whether owned by
any Borrower or by any other Person, either by judicial foreclosure or by non-judicial sale or enforcement, Administrative Agent
or any Lender may, at its sole option, determine which of its remedies or rights it may pursue without affecting any of its rights
and remedies under this Section 11.19. If, in the exercise of any of its rights and remedies, Administrative Agent
or any Lender shall forfeit any of its rights or remedies, including its right to enter a deficiency judgment against any Borrower
or any other Person, whether because of any applicable Laws pertaining to “election of remedies” or the like, each
Borrower hereby consents to such action by Administrative Agent or such Lender and waives any claim based upon such action, even
if such action by Administrative Agent or such Lender shall result in a full or partial loss of any rights of subrogation that
each Borrower might otherwise have had but for such action by Administrative Agent or such Lender. Any election of remedies that
results in the denial or impairment of the right of Administrative Agent or any Lender to seek a deficiency judgment against any
Borrower shall not impair any other Borrower’s obligation to pay the full amount of the Obligations. In the event Administrative
Agent or any Lender shall bid at any foreclosure or trustee’s sale or at any private sale permitted by law or the Loan Documents,
Administrative Agent or such Lender may bid all or less than the amount of the Obligations and the amount of such bid need not
be paid by Administrative Agent or such Lender but shall be credited against the Obligations. The amount of the successful bid
at any such sale, whether Administrative Agent, Lender or any other party is the successful bidder, shall be conclusively deemed
to be the fair market value of the Collateral and the difference between such bid amount and the remaining balance of the Obligations
shall be conclusively deemed to be the amount of the Obligations guaranteed under this Section 11.19, notwithstanding
that any present or future law or court decision or ruling may have the effect of reducing the amount of any deficiency claim to
which Administrative Agent or any Lenders might otherwise be entitled but for such bidding at any such sale.

 

(h)              
The provisions of this Section 11.19 are made for the benefit of Administrative Agent, Lenders and their respective
successors and assigns, and may be enforced by any such Person from time to time against any of the applicable Borrowers as often
as occasion therefor may arise and without requirement on the part of Administrative Agent or any Lender first to marshal any of
its claims or to exercise any of its rights against any of the other Borrowers or to exhaust any remedies available to it against
any of the other Borrowers or to resort to any other source or means of obtaining payment of any of the Obligations or to elect
any other remedy. The provisions of this Section 11.19 shall remain in effect until all the Obligations hereunder shall
have been paid in full or otherwise fully satisfied. If at any time, any payment, or any part thereof, made in respect of any of
the Obligations, is rescinded or must otherwise be restored or returned by Lenders upon the insolvency, bankruptcy or reorganization
of any of Borrowers, or otherwise, the provisions of this Section 11.19 will forthwith be reinstated and in effect
as though such payment had not been made.

 

(i)                
Each Borrower’s liability under this Section 11.19 shall be limited to an amount not to exceed as of any
date of determination the greater of the following:

 

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(i)                
the Allocated Loan Amount for the Project owned by such Borrower; and

 

(ii)             
the amount that could be claimed by Administrative Agent and any Lender from such Borrower under this Section 11.19
without rendering such claim voidable or avoidable under Section 548 of Chapter 11 of the Bankruptcy Code or under any applicable
state Uniform Fraudulent Transfer Act, Uniform Fraudulent Conveyance Act or similar statute or common law after taking into account,
among other things, such Borrower’s right of contribution and indemnification from each other Borrower under Section 11.19(j)
below.

 

(j)                
Contribution with Respect to Guaranty Obligations:

 

(i)                
To the extent that any Borrower (the “Overpaying Borrower”) incurs (i) any payment in excess
of its Allocated Loan Amount, or (ii) a loss of its Collateral due to the foreclosure (or other realization by Lenders) of,
or the delivery of deeds in lieu of foreclosure relating to it Collateral, and the value of such Collateral exceeded its Allocated
Loan Amount (the “Overpayment Amount”), then such Overpaying Borrower shall be entitled, after indefeasible
payment in full and the satisfaction of all Obligations to Lenders under this Agreement, to contribution from each of the benefited
Borrowers, on a pro rata basis, for the amounts so paid, advanced or benefited, in an amount equal to the difference between the
Overpayment Amount and such benefited Borrower’s then current Allocated Loan Amount. Any such contribution payments shall
be made within ten (10) Business Days after demand therefor.

 

(ii)             
This Section 11.19(j) is intended only to define the relative rights of Borrowers and nothing set forth in this
Section 11.19(j) is intended to or shall impair the obligations of Borrowers, jointly and severally, to pay any amounts
as and when the same shall become due and payable in accordance with the terms of this Agreement, including Section 11.19(a)
above. Nothing contained in this Section 11.19(j) shall limit the liability of any Borrower to pay all or any part
of the Loan made directly or indirectly to that Borrower and accrued interest, fees and expenses with respect thereto for which
such Borrower shall be primarily liable.

 

(iii)           
The parties hereto acknowledge that the rights of contribution and indemnification hereunder shall constitute assets of
Borrower to which such contribution and indemnification is owing.

 

(iv)            
The rights of the indemnifying Borrowers against other Borrowers under this Section 11.19(j) shall be exercisable
only upon the full and indefeasible payment of the Obligations.

 

(k)              
The liability of Borrowers under this Section 11.19 is in addition to and shall be cumulative with all liabilities
of each Borrower to Administrative Agent and Lenders under this Agreement, the other Loan Documents and the Environmental Indemnity
Agreement to which such Borrower is a party or in respect of any Obligations or obligation of the other Borrowers, without any
limitation as to amount, unless the instrument or agreement evidencing or creating such other liability specifically provides to
the contrary.

 

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(l)                
Each Qualified ECP Guarantor hereby jointly and severally, absolutely, unconditionally and irrevocably undertakes to provide
such funds or other support as may be needed from time to time by each other Borrower to honor all of its obligations in respect
of Swap Obligations under any Secured Hedge Agreement (provided, however, that each Qualified ECP Guarantor shall
only be liable under this Section 11.19(l) for the maximum amount of such liability than can be hereby incurred without
rendering its obligations under this Section 11.19(l), voidable under applicable Requirements of Law relating to fraudulent
conveyance or fraudulent transfer, and not for any greater amount). The obligations of each Qualified ECP Guarantor under this
Section 11.19(l) shall remain in full force and effect until the guarantees in respect of Swap Obligations under each
Secured Hedge Agreement have been discharged, or otherwise released or terminated in accordance with the terms of this Agreement.
Each Qualified ECP Guarantor intends that this Section 11.19(l) constitute, and this Section 11.19(l) shall
be deemed to constitute, a “keepwell, support, or other agreement” for the benefit of each other Borrower for all purposes
of Section 1a(18)(A)(v)(II) of the Commodity Exchange Act.

 

Section 11.20  
Singular and Plural. Words used in this Agreement, the other Loan Documents and the Environmental Indemnity Agreement,
in the singular, where the context so permits, shall be deemed to include the plural and vice versa. The definitions of words in
the singular in this Agreement, the other Loan Documents, and the Environmental Indemnity Agreement shall apply to such words when
used in the plural where the context so permits and vice versa.

 

Section 11.21  
Exhibits and Schedules. The exhibits and schedules attached to this Agreement are incorporated herein and shall
be considered a part of this Agreement for the purposes stated herein.

 

Section 11.22  
Titles of Articles, Sections and Subsections. All titles or headings to articles, sections, subsections or other
divisions of this Agreement, the other Loan Documents, and the Environmental Indemnity Agreement or the exhibits hereto and thereto
are only for the convenience of the parties and shall not be construed to have any effect or meaning with respect to the other
content of such articles, sections, subsections or other divisions, such other content being controlling as to the agreement between
the parties hereto.

 

Section 11.23  
Non-Public Information; Confidentiality.

 

(a)                 
Non-Public Information. Each of Administrative Agent and each Lender acknowledges and agrees that it may receive
material non-public information (“MNPI”) hereunder concerning the Borrower Parties and their Affiliates
and agrees to use such information in compliance with all relevant policies, procedures and applicable Requirements of Laws (including
United States federal and state security laws and regulations).

 

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(b)                  Confidential
Information. Each of Administrative Agent and each Lender severally agrees to maintain the confidentiality of information
obtained by it pursuant to any Loan Document, except that such information may be disclosed (i) with the
Borrower Representative’s consent, (ii) to Related Persons of such Lender, or Administrative Agent, as the case
may be, that are advised of the confidential nature of such information and are instructed to keep such information
confidential in accordance with the terms hereof, (iii) to the extent such information presently is or hereafter becomes
(A) publicly available other than as a result of a breach of this Section 11.23 or (B) available to
such Lender, or Administrative Agent or any of their Related Persons, as the case may be, from a source (other than any
Borrower Party) not known by them to be subject to disclosure restrictions, (iv) to the extent disclosure is required by
applicable Requirements of Law or other legal process or requested or demanded by any Governmental Authority, provided
that the applicable Borrower Party shall be given prior written notice thereof to the extent permitted by applicable
Requirements of Law or no Governmental Authority has requested otherwise, (v) to the extent necessary or customary for
inclusion in league table measurements, (vi) (A) to the National Association of Insurance Commissioners or any
similar organization, any examiner or any nationally recognized rating agency or (B) otherwise to the extent consisting
of general portfolio information that does not identify Borrower Parties, (vii) to current or prospective assignees,
financing sources to any Lender, SPVs (including the investors or prospective investors therein) or participants, direct or
contractual counterparties to any Hedge Agreements and to their respective Related Persons, in each case to the extent
such assignees, investors, participants, counterparties or Related Persons agree to be bound by provisions substantially
similar to the provisions of this Section 11.23 (and such Person may disclose information to their respective
Related Persons in accordance with clause (ii) above), (viii) to any other party hereto, and (ix) in
connection with the exercise or enforcement of any right or remedy under any Loan Document, in connection with any litigation
or other proceeding to which such Lender, or Administrative Agent or any of their Related Persons is a party or bound, or to
the extent necessary to respond to public statements or disclosures by Borrower Parties or their Related Persons referring to
a Lender, or Administrative Agent or any of their Related Persons. In the event of any conflict between the terms of this Section 11.23
and those of any other contractual obligation entered into with any Borrower Party (whether or not a Loan Document), the
terms of this Section 11.23 shall govern. This Section 11.23(b) shall survive the termination of this
Agreement for a period of 12 months.

 

(c)                 
Tombstones. Each Borrower Party consents to the publication by Administrative Agent or any lead arranger named on
the cover hereto of advertising material relating to the financing transactions contemplated by this Agreement using any Borrower
Party’s name, product photographs, logo or trademark. Administrative Agent or such lead arranger shall provide a draft of
any additional advertising material to Borrower Representative for review and comment prior to the publication thereof.

 

(d)                  Press
Release and Related Matters. No Borrower Party shall, and no Borrower Party shall permit any of its Affiliates to, issue
any press release or other public disclosure (other than any document filed with any Governmental Authority relating to a
public offering of securities of any Borrower Party) using the name, logo or otherwise referring to Administrative Agent or
of any of its Affiliates, the Loan Documents or any transaction contemplated therein to which Administrative Agent is
party without the prior consent of Administrative Agent (such consent not to be unreasonably withheld or delayed) except to
the extent required to do so under applicable Requirements of Law and then, only after delivering a copy thereof to
Administrative Agent. Neither Administrative Agent nor any Lender shall issue any press release or other public disclosure
with respect to the Loan Documents or any transaction contemplated therein using the name, logo or otherwise referring to any
Borrower Party or any terms and conditions with respect to the Loan Documents without the prior consent of Borrower
Representative except to the extent required to do so under applicable Requirements of Law.

 

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(e)                 
Distribution of Materials to Lenders. The Borrower Parties acknowledge and agree that the Loan Documents and all
reports, notices, communications and other information or materials provided or delivered by, or on behalf of, the Borrower Parties
hereunder (collectively, the “Borrower Materials”) may be disseminated by, or on behalf of, Administrative
Agent, and made available, to Lenders by posting such Borrower Materials on an E-System. The Borrower Parties authorize Administrative
Agent to download copies of their logos from its website and post copies thereof on an E-System reasonably selected by Administrative
Agent.

 

Section 11.24  
Survival. All indemnities hereunder under the indemnification provisions of the other Loan Documents and under
the Environmental Indemnity Agreement, shall survive the repayment in full of the Loan and the release of the liens evidencing
or securing the Loan, and shall survive the transfer (by sale, foreclosure, conveyance in lieu of foreclosure or otherwise) of
any or all right, title and interest in and to the Projects to any party, whether or not an Affiliate of Borrower in accordance
with the provisions of any such Loan Document.

 

Section 11.25  
Waiver of Jury Trial. TO THE MAXIMUM EXTENT PERMITTED BY LAW, BORROWERS, ADMINISTRATIVE AGENT, AND EACH LENDER
HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVE THE RIGHT TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION BASED HEREON, ARISING
OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT, ANY OTHER LOAN DOCUMENT, OR THE ENVIRONMENTAL INDEMNITY AGREEMENT, OR ANY COURSE
OF CONDUCT, COURSE OF DEALING, STATEMENT (WHETHER VERBAL OR WRITTEN) OR ACTION OF EITHER PARTY OR ANY EXERCISE BY ANY PARTY OF
THEIR RESPECTIVE RIGHTS UNDER THE LOAN DOCUMENTS AND THE ENVIRONMENTAL INDEMNITY AGREEMENT OR IN ANY WAY RELATING TO THE LOAN OR
THE PROJECT (INCLUDING, WITHOUT LIMITATION, ANY ACTION TO RESCIND OR CANCEL THIS AGREEMENT, AND ANY CLAIM OR DEFENSE ASSERTING
THAT THIS AGREEMENT WAS FRAUDULENTLY INDUCED OR IS OTHERWISE VOID OR VOIDABLE). THIS WAIVER IS A MATERIAL INDUCEMENT FOR ADMINISTRATIVE
AGENT AND EACH LENDER TO ENTER INTO THIS AGREEMENT.

 

Section 11.26  
Waiver of Punitive or Consequential Damages. None of Administrative Agent, any Lender, nor Borrowers shall be
responsible or liable to the other or to any other Person for any punitive, exemplary or consequential damages which may be alleged
as a result of the Loan or the transaction contemplated hereby, including any breach or other default by any party hereto. Borrowers
represent and warrant to Administrative Agent and each Lender that as of the Closing Date neither Borrowers nor any other Borrower
Party has any claims against Administrative Agent or any Lender in connection with the Loan.

 

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Section
11.27   Governing Law.
UNLESS OTHERWISE NOTED THEREIN TO THE CONTRARY, THE LOAN DOCUMENTS AND THE ENVIRONMENTAL INDEMNITY AND THE RIGHTS AND
OBLIGATIONS OF THE PARTIES THEREUNDER SHALL IN ALL RESPECTS BE GOVERNED BY, AND CONSTRUED AND ENFORCED IN ACCORDANCE
WITH, THE LAWS OF THE STATE OF NEW YORK (WITHOUT GIVING EFFECT TO NEW YORK’ PRINCIPLES OF CONFLICTS OF LAW) AND
APPLICABLE UNITED STATES FEDERAL LAW, EXCEPT FOR THOSE PROVISIONS IN THE LOAN DOCUMENTS AND, IF APPLICABLE, THE ENVIRONMENTAL
INDEMNITY PERTAINING TO THE CREATION, PERFECTION OR VALIDITY OF OR EXECUTION ON LIENS OR SECURITY INTERESTS ON PROPERTY
LOCATED IN THE STATE WHERE THE PROJECT IS LOCATED, WHICH PROVISIONS SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE
LAWS OF THE STATE WHERE THE PROJECT IS LOCATED AND APPLICABLE UNITED STATES FEDERAL LAW.

 

Section 11.28  
Entire Agreement. This Agreement, the other Loan Documents and the Environmental Indemnity Agreement embody the
entire agreement and understanding between Administrative Agent and each Lender and Borrowers and supersede all prior agreements
and understandings between such parties relating to the subject matter hereof and thereof. Accordingly, the Loan Documents and
the Environmental Indemnity Agreement may not be contradicted by evidence of prior, contemporaneous, or subsequent oral agreements
of the parties. There are no unwritten oral agreements between the parties.

 

Section 11.29  
Counterparts. This Agreement may be executed in multiple counterparts, each of which shall constitute an original,
but all of which shall constitute one document.

 

Section 11.30  
Consents and Approvals. To the extent that Administrative Agent, Lenders and/or Required Lenders provide any
consent or approval as provided for in this Loan Agreement, such consent shall be limited to the specific matter approved and shall
NOT be construed to (a) relieve Borrowers from compliance with all of the other terms and obligations of the Loan Agreement,
(b) constitute a consent to any further similar action (as to which a prospective consent or approval shall be required and
may not necessarily be granted), or (c) constitute a consent to any other obligation to which any Lender may be a party.

 

Section 11.31  
Effectiveness of Facsimile Documents and Signatures. The Loan Documents and Environmental Indemnity Agreement
may be transmitted and/or signed by facsimile or electronic transmission. The effectiveness of any such documents and signatures
shall, subject to applicable Law, have the same force and effect as manually signed originals and shall be binding on all parties
to the Loan Documents and Environmental Indemnity Agreement, as applicable. Administrative Agent may also require that any such
documents and signatures be confirmed by a manually signed original thereof; provided, however, that the failure
to request or deliver the same shall not limit the effectiveness of any facsimile document, electronic transmission or signature.

 

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Section
11.32   Venue. EACH
PARTY HERETO CONSENTS TO THE JURISDICTION OF ANY STATE OR FEDERAL COURT LOCATED WITHIN THE CITY OF NEW YORK, BOROUGH OF
MANHATTAN, STATE OF NEW YORK AND IRREVOCABLY AGREES THAT, SUBJECT TO ADMINISTRATIVE AGENT’S ELECTION, ALL ACTIONS OR
PROCEEDINGS ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE OTHER LOAN DOCUMENTS SHALL BE LITIGATED IN SUCH COURTS. EACH
PARTY HERETO EXPRESSLY SUBMITS AND CONSENTS TO THE JURISDICTION OF THE AFORESAID COURTS AND WAIVES ANY DEFENSE OF FORUM NON
CONVENIENS. EACH BORROWER HEREBY WAIVES PERSONAL SERVICE OF ANY AND ALL PROCESS. BORROWERS HEREBY AGREE THAT ALL SERVICE OF
PROCESS MAY BE MADE UPON BORROWERS BY CERTIFIED OR REGISTERED MAIL, RETURN RECEIPT REQUESTED, ADDRESSED TO BORROWERS, AT
THE ADDRESS SET FORTH IN THIS AGREEMENT AND SERVICE SO MADE SHALL BE DEEMED COMPLETE TEN (10) DAYS AFTER THE SAME HAS BEEN
POSTED.

 

Section 11.33  
Important Information Regarding Procedures for Requesting Credit. Each of Administrative Agent and Lenders hereby
notifies the Borrower Parties that in order to help the government fight the funding of terrorism and money laundering activities,
federal law requires all financial institutions to obtain, verify and record information that identifies each individual or business
that requests credit. Accordingly, in connection with the loans or any other request for credit, Administrative Agent and Lenders
will ask for the business name, business address, Employer Identification Number, and other information which allows them to identify
each Borrower Party and may ask for other identifying documents showing existence of each Borrower Party.

 

Section 11.34  
Method of Payment. All amounts payable under this Agreement and the other Loan Documents must be paid by Borrowers
in accordance with Section 2.6(c). Payments in the form of cash, money order, third party payment, cashier’s
check, a check drawn on a foreign bank or non-bank financial institution, or any form of payment other than those provided in the
preceding sentence will not be accepted.

 

Section 11.35  
Libor Rate. The Administrative Agent does not warrant, nor accept responsibility, nor shall the Administrative
Agent have any liability with respect to the administration, submission or any other matter related to the rates in the definition
of Libor Rate or Alternate Rate or with respect to any comparable or successor rate thereto.

 

Section 11.36  
Post-Closing Obligations of Borrowers. Notwithstanding the fact that Borrowers have not satisfied certain of
the conditions to the advance of the Loan proceeds as of the Closing Date, Lenders have agreed to advance the proceeds of the Loan
to Borrowers, subject to the satisfaction of the requirements set forth in Schedule 11.36 attached hereto.

 

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Section
11.37   Release and Waiver
Regarding Special Audits. Borrowers and Lenders acknowledge that from time to time during the term of the Loan, one
or more Lenders and/or Borrowers may request that CONA provide Borrower and/or Lenders (collectively, the
“Recipient”) with certain internally generated reports (whether oral and/or written, the
“Reports”), which Reports may include oral and/or written information, assessments, notes,
memoranda and analyses prepared by employees of CONA for the limited purpose of preparing an audit of the progress one or
more of the Projects has made with respect to a plan of correction (or similar remedied obligation of any Borrower or any
Operator under any Healthcare Laws) that may be issued from time to time with respect to any Project. With respect to any
Reports that may be provided to the Recipient from time to time during the term of the Loan, Lenders and Borrowers hereby
acknowledge and agree as follows: (a) the Reports may be prepared based on procedures that may not include all
procedures deemed necessary for the Recipient’s own purposes; (b) CONA will not be able or willing to make any
recommendations based on the Reports and CONA shall not in any way be deemed a consultant, agent or other representative to
the Recipient in any manner; (c) the Recipient does not acquire any rights as a result of the disclosure of the Reports
and its access thereto, and CONA assumes no duties or obligations in connection with, or as a result of, such access;
(d) the Recipient is not entitled to rely on the Report; (e) the Recipient will not distribute or disclose the
Reports or the information contained therein to any third party, except if compelled by legal process, and it will, to
the extent permitted by applicable Law, indemnify and hold harmless CONA, together with its employees, officers, advisors and
Affiliates from and against any and all claims, losses or expenses (including attorneys’ fees) arising as a result of
CONA having disclosed the Reports to the Recipient; (f) the Recipient waives its right to recover from, and releases and
discharges any legal action against, CONA with respect to any and all suits, actions, proceedings, investigations, demands,
claims, liabilities, fines, penalties, liens, judgments, losses, injuries, damages, settlement expenses or costs of whatever
kind or nature, whether direct or indirect, known or unknown, contingent or otherwise, including, without limitation,
attorneys’ and experts’ fees and expenses, and investigation and remediation costs that may arise on account of
or in any way be connected with the Report; and (g) and with respect to the Reports, CONA is not acting as an agent,
fiduciary or representative for the Recipient, and the Recipient will (i) make its own independent investigation of the
subject matter of the Reports and (ii) be solely responsible for its own review, assessments, conclusions and decisions
with respect to the Loan, the Projects, Borrowers and/or Operator.

 

ARTICLE
12

LIMITATIONS ON LIABILITY

 

Section 12.1      
Limitation on Liability.

 

(a)              
Subject to the qualifications below, neither Administrative Agent nor any Lender shall enforce the liability and obligation
of Borrowers to perform and observe the Obligations by any action or proceeding wherein a money judgment shall be sought against
Borrowers, except that Administrative Agent and Lenders may bring a foreclosure action, an action for specific performance or any
other appropriate action or proceeding to enable Administrative Agent and Lenders to enforce and realize upon its interest under
the Note, this Agreement, the Mortgage and the other Loan Documents, or in the Projects, or any other Collateral given to Administrative
Agent and Lenders pursuant to the Loan Documents; provided, however, that, except as specifically provided herein,
(i) any judgment in any such action or proceeding shall be enforceable against Borrowers only to the extent of Borrowers’
interest in the Projects and in any other collateral given to Administrative Agent and Lenders to secure the Obligations, and (ii) Administrative
Agent and each Lender, as applicable, by accepting the Note, this Agreement, the Mortgage and the other Loan Documents, shall not
sue for, seek or demand any deficiency judgment against Borrowers in any such action or proceeding under or by reason of or under
or in connection with the Note, this Agreement, the Mortgage or the other Loan Documents.

 

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(b)               The
provisions of this Section 12.1 shall not, however, (i) constitute a waiver, release or impairment of any
Obligation evidenced or secured by any of the Loan Documents; (ii) impair the right of Administrative Agent or
any Lender to name any Borrower as a party defendant in any action or suit for foreclosure and sale under the Mortgage;
(iii) affect the validity or enforceability of any guaranty made in connection with the Loan or Obligations or any of
the rights and remedies of Administrative Agent or any Lender thereunder; (iv) impair the right of Administrative Agent
or any Lender to obtain the appointment of a receiver; (v) impair the enforcement of the assignment of leases and rents
provisions set forth in the Mortgages; (vi) constitute a prohibition against Administrative Agent or any Lender to
commence any appropriate action or proceeding in order for Administrative Agent or any Lender to exercise its remedies
against any Project; or (vii) constitute a waiver of the right of Administrative Agent or any Lender to enforce the
liability and obligation of Borrowers, by money judgment or otherwise, to the extent of any Liability, which may be imposed
upon, incurred by or awarded against Administrative Agent or any Lender or any Affiliate thereof as a result of, arising out
of or in connection with (and Borrowers shall be personally liable and shall indemnify Administrative Agent and such Lender
for) the following:

 

(i)             [reserved];

 

(ii)            commission of a criminal act by any Borrower Party, Guarantor or any Affiliate or agent of any Borrower Party or Guarantor
(which agent is under the control of such Borrower Party or such Guarantor) which results in the exercise by any Person of Forfeiture
Rights with respect to a Project;

 

(iii)           the failure by Borrowers or any other Borrower Party to apply any insurance proceeds and condemnation awards in accordance
with the terms of the Loan Documents;

 

(iv)           any intentional material misrepresentation by Borrowers or any other Borrower Party made in or in connection with the Loan
Documents or the Loan

 

(v)            misappropriation (including failure to turn over to Administrative Agent on demand following an Event of Default) of tenant
security deposits and rents collected in advance, or of funds derived from the Project;

 

(vi)           any assertion of defenses or counterclaims made by any Borrower Party in bad faith (as reasonably determined by Administrative
Agent) that hinders, delays or interferes in any material respect with the enforcement by Administrative Agent or Lender of its
rights under the Loan Documents or the realization of the Collateral;

 

(vii)         Borrowers’ failure to turn over to Administrative Agent all Security Deposits upon Administrative Agent’s demand
following an Event of Default, except to the extent any such Security Deposits were applied in accordance with the terms and conditions
of any of the Leases prior to the occurrence of such Event of Default;

 

(viii)       
Borrowers’ failure to maintain insurance as required by this Agreement, in each case (1) to the extent that Borrowers
failed to apply cash flow from the Projects to do so, and (2) there are not sufficient funds available to Administrative Agent
in the Insurance Impound to pay for such insurance;

 

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(ix)           Borrowers’ failure to pay any Taxes or assessments affecting the Projects before the delinquency thereof, in each
case (1) to the extent that Borrowers failed to apply cash flow from the Projects to do so, and (2) there are not sufficient
funds available to Administrative Agent in the Tax Impound to pay such Taxes or assessments;

 

(x)            damage or destruction to any Project caused by the intentional acts or omissions of any Borrower Party;

 

(xi)           any Borrower’s failure to perform its obligations under the Environmental Indemnity Agreement;

 

(xii)         
material physical waste of any Project (excluding alterations made in good faith) after an Event of Default;

 

(xiii)       
 the removal or disposal of any material personal property from any Project by any Borrower in which Administrative Agent
or Lenders have a security interest in violation of the terms and conditions of the Loan Documents unless (A) the property
removed is replaced by property of the same utility and of the same or greater value or (B) such removal takes place in the
ordinary course of operation of the applicable Project and does not constitute material physical waste;

 

(xiv)        
the payment of any distributions to any Borrower or any Guarantor or any of their Affiliates that are expressly prohibited
by this Agreement; or

 

(xv)         
any fees paid by Borrowers to any Guarantor or any of their Affiliates after the occurrence and during the continuation
of an Event of Default under the Loan Documents; or

 

(xvi)        
[reserved]; or

 

(xvii)       
the commission of fraud by any Borrower or any other Borrower Party in connection with the Loan; or

 

(xviii)   
   any Transfer of any Project or any part thereof or any legal or beneficial interest therein or any Transfer of an interest
in any Restricted Party in breach of any of the covenants in this Agreement or the Mortgage to the extent solely and directly resulting
from the execution of a Lease; or

 

(xix)        
the modification, termination or surrender of any Ground Lease without Administrative Agent’s prior written consent
(to the extent such consent is required pursuant to the terms of the Loan Documents).

 

(xx)           either
or both (x) the modification or termination of a Triple Net Lease without Administrative Agent’s prior written
consent (to the extent such consent is required pursuant to the terms of the Loan Documents) or (y) any
Borrower’s consent (to the extent Borrower has the ability or right to consent) to the of an assignment or surrender of
a Triple Net Lease without Administrative Agent’s prior written consent (to the extent such consent is required
pursuant to the terms of the Loan Documents).

 

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(c)              
Notwithstanding anything to the contrary in this Agreement, the Note or any of the Loan Documents, all of the Obligations
shall be fully recourse to Borrowers and Borrowers shall be personally liable therefor in the event of:

 

(i)                
any Transfer of any Project or any part thereof or any legal or beneficial interest therein or any Transfer of an interest
in any Restricted Party in breach of any of the covenants in this Agreement or the Mortgage;

 

(ii)             
any Borrower’s failure to comply with the covenants in Section 5.18 hereof and such failure results in
the actual or substantive consolidation in whole or in part of any Borrower’s assets with the assets of another Person in
any bankruptcy or insolvency proceeding;

 

(iii)           
any Borrower Party files a voluntary petition under the Bankruptcy Code or any other Federal or state bankruptcy or insolvency
law;

 

(iv)            
a Person, an Affiliate, officer, director, or representative which Controls any Borrower Party files, or joins in the filing
of, an involuntary petition against any Borrower under the Bankruptcy Code or any other Federal or state bankruptcy or insolvency
law, or solicits or causes to be solicited petitioning creditors for any involuntary petition against any Borrower from any Person;

 

(v)              
any Borrower Party files an answer consenting to or otherwise acquiescing in or joining in any involuntary petition filed
against it, by any other Person under the Bankruptcy Code or any other Federal or state bankruptcy or insolvency law, or solicits
or causes to be solicited petitioning creditors for any involuntary petition from any Person;

 

(vi)            
a Person, any Affiliate, officer, director, or representative which Controls Borrowers consents to or acquiesces in or joins
in an application for the appointment of a custodian, receiver, trustee, or examiner for any Borrower or any portion of the Collateral;
or

 

(vii)         
any Borrower Party makes an assignment for the benefit of creditors, or admits, in writing or in any legal proceeding, its
insolvency or inability to pay its debts as they become due.

 

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(d)               Borrowers
also shall be personally liable to Administrative Agent and Lenders for any and all reasonable attorneys’ fees and
expenses and court costs incurred by Administrative Agent and Lenders in enforcing this Section 12.1 or
otherwise incurred by Administrative Agent or any Lender in connection with any of the foregoing matters, regardless whether
such matters are legal or equitable in nature or arise under tort or contract law. The limitation on the personal liability
of Borrowers in this Section 12.1 shall not modify, diminish or discharge the personal liability of any Guarantor
under any Guaranty. Nothing herein shall be deemed to be a waiver of any right which Administrative Agent or any Lender may
have under Sections 506(a), 506(b), 1111(b) or any other provision of the United States Bankruptcy Code, as such sections may
be amended, or corresponding or superseding sections of the Bankruptcy Amendments and Federal Judgeship Act of 1984, to file
a claim for the full amount due to Administrative Agent and Lenders under the Loan Documents or to require that all
collateral shall continue to secure the amounts due under the Loan Documents.

 

Section 12.2      
Limitation on Liability of Administrative Agent and Lenders’ Officers, Employees, Etc. Any obligation or
liability whatsoever of Administrative Agent or any Lender which may arise at any time under this Agreement, any other Loan Document,
or the Environmental Indemnity Agreement shall be satisfied, if at all, out of Administrative Agent’s or such Lender’s
assets only. No such obligation or liability shall be personally binding upon, nor shall resort for the enforcement thereof be
had to, the property of any of Administrative Agent’s or such Lender’s shareholders, directors, officers, employees
or agents, regardless of whether such obligation or liability is in the nature of contract, tort or otherwise. None of Administrative
Agent and its Related Persons shall be liable for any action taken or omitted to be taken by any of them under or in connection
with any Loan Document or the Environmental Indemnity Agreement in its capacity as Administrative Agent (or Related Person of Administrative
Agent), and Borrowers (on their own behalf and on behalf of the other Borrower Parties) hereby waive and shall not assert any right,
claim or cause of action based thereon, except to the extent of liabilities resulting primarily from the gross negligence or willful
misconduct of Administrative Agent or, as the case may be, such Related Person (each as determined in a final, non-appealable judgment
by a court of competent jurisdiction) in connection with the duties expressly set forth herein.

 

[Continued on following
page.]

 

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EXECUTED as of the
date first written above.

 

	ADMINISTRATIVE AGENT:	CAPITAL ONE, NATIONAL ASSOCIATION
	 	 
	 	By:	/s/Jeffrey Fattal
	 	Name:	Jeffrey Fattal
	 	Title:	Vice President

 

[Signatures Continued on Following
Page]

 

LOAN AGREEMENT –
Signature Page

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	LENDER:	CAPITAL ONE, NATIONAL
    ASSOCIATION
	 	 
	 	By:	/s/Jeffrey
    Fattal
	 	Name:	Jeffrey
    Fattal
	 	Title:	Vice President

 

[Signatures Continued
on Following Page]

 

LOAN AGREEMENT –
Signature Page

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	LENDER:	FIRST BANK
	 	 
	 	By:	/s/Phillip
    M. Lykeris
	 	Name:	Phillip
    M. Lykeris
	 	Title:	Senior
    Vice President

 

[Signatures Continued on Following
Page]

 

LOAN AGREEMENT –
Signature Page

HTI – MOB Portfolio

 

     

     

    

 

	LENDER:	Siemens
    Financial Services, Inc.
	 	 
	 	By:	/s/Katherine
    Forbes-Hunter
	 	Name:	Katherine
    Forbes-Hunter
	 	Title:	Senior
    Transaction Coordinator

 

	 	By:	/s/Ernest
    Errigo
	 	Name:	Ernest
    Errigo
	 	Title:	Sr. Transaction
    Coordinator

 

[Signatures Continued on Following
Page]

 

LOAN AGREEMENT –
Signature Page

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	LENDER:	RAYMOND JAMES BANK, N.A.
	 	 
	 	By:	/s/Douglas S. Marron
	 	Name:	Douglas S. Marron
	 	Title:	Senior Vice President

 

[Signatures Continued on Following
Page]

 

LOAN AGREEMENT –
Signature Page

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	 	ARHC CSDOUGA01, LLC
	 	ARHC BGBOWMD01, LLC
	 	ARHC CAROCMI02, LLC
	 	ARHC CAROCMI01, LLC
	 	ARHC UCELKCA01, LLC
	 	ARHC BRHBGPA01, LLC
	 	ARHC CHHBGPA01, LLC
	 	ARHC FOMBGPA01, LLC
	 	ARHC FMMUNIN02, LLC
	 	ARHC MVMVNWA01, LLC
	 	ARHC CPHAMVA01, LLC
	 	ARHC ESMEMTN01, LLC
	 	ARHC BLHBGPA01, LLC
	 	ARHC MSHBGPA01, LLC
	 	ARHC PCSHVMS01, LLC
	 	ARHC PVPHXAZ01, LLC
	 	ARHC AORMDVA01, LLC
	 	ARHC AHHFDCA01, LLC
	 	ARHC CMCNRTX01, LLC
	 	ARHC LMPLNTX01, LLC
	 	ARHC SCVSTCA01, LLC
	 	ARHC GMCLKTN01, LLC
	 	ARHC PRPEOAZ05 TRS, LLC
	 	ARHC PRPEOAZ01, LLC
	 	ARHC CSCLWFL01, LLC
	 	ARHC DELVSNV01, LLC
	 	ARHC DELVSNV02, LLC
	 	ARHC WIGNFWI01, LLC
	 	ARHC WISMLWI01, LLC
	 	ARHC SAVENFL01, LLC
	 	ARHC PCLMYPA01, LLC
	 	ARHC PPLVLGA01, LLC
	 	ARHC WISTFWI01, LLC,
	 	each a Delaware limited liability company
	 	 
	 	By:	/s/Michael Anderson
	 	Name:	 Michael Anderson
	 	Title: 	Authorized Signatory

 

LOAN AGREEMENT
– Signature Page

HTI – MOB Portfolio

 

     

     

    

 

Exhibit
B

 

		1.	ARHC CSDOUGA01, LLC

		2.	ARHC BGBOWMD01, LLC

		3.	ARHC CAROCMI02, LLC

		4.	ARHC CAROCMI01, LLC

		5.	ARHC UCELKCA01, LLC

		6.	ARHC BRHBGPA01, LLC

		7.	ARHC CHHBGPA01, LLC

		8.	ARHC FOMBGPA01, LLC

		9.	ARHC FMMUNIN02, LLC

		10.	ARHC MVMVNWA01, LLC

		11.	ARHC CPHAMVA01, LLC

		12.	ARHC ESMEMTN01, LLC

		13.	ARHC BLHBGPA01, LLC

		14.	ARHC MSHBGPA01, LLC

		15.	ARHC PCSHVMS01, LLC

		16.	ARHC PVPHXAZ01, LLC

		17.	ARHC AORMDVA01, LLC

		18.	ARHC AHHFDCA01, LLC

		19.	ARHC CMCNRTX01, LLC

		20.	ARHC LMPLNTX01, LLC

		21.	ARHC SCVSTCA01, LLC

		22.	ARHC GMCLKTN01, LLC

		23.	ARHC PRPEOAZ05 TRS, LLC

		24.	ARHC PRPEOAZ01, LLC

		25.	ARHC CSCLWFL01, LLC

		26.	ARHC DELVSNV01, LLC

		27.	ARHC DELVSNV02, LLC

		28.	ARHC WIGNFWI01, LLC

		29.	ARHC WISMLWI01, LLC

		30.	ARHC SAVENFL01, LLC

		31.	ARHC PCLMYPA01, LLC

		32.	ARHC PPLVLGA01, LLC

		33.	ARHC WISTFWI01, LLC,

 

LOAN AGREEMENT – Exhibit B 

HTML MOB Portfolio

 

     

     

    

 

Exhibit C

 

ASSIGNMENT AND ASSUMPTION

 

This Assignment and Assumption (this “Assignment
and Assumption”) is dated as of the Effective Date set forth below and is entered
into by and between the Assignor identified in item 1 below (the “Assignor”)
and the Assignee identified in item 2 below (the “Assignee”).
Capitalized terms used but not defined herein shall have the meanings given to them in the Loan Agreement identified below (as
amended, restated, supplemented or otherwise modified from time to time, the “Loan
Agreement”), receipt of a copy of which is hereby acknowledged by the Assignee.
The Standard Terms and Conditions set forth in Annex 1 attached hereto are hereby agreed to and incorporated herein by reference
and made a part of this Assignment and Assumption as if set forth herein in full.

 

For an agreed consideration, the Assignor
hereby irrevocably sells and assigns to the Assignee, and the Assignee hereby irrevocably purchases and assumes from the Assignor,
subject to and in accordance with the Standard Terms and Conditions and the Loan Agreement, as of the Effective Date inserted by
Administrative Agent as contemplated below, (i) all of the Assignor’s rights and obligations in its capacity as a Lender
under the Loan Agreement and any other documents or instruments delivered pursuant thereto to the extent related to the amount
and percentage interest identified below of all of such outstanding rights and obligations of the Assignor under the respective
facilities identified below, and (ii) to the extent permitted to be assigned under applicable law, all claims, suits, causes of
action and any other right of the Assignor (in its capacity as a Lender) against any Person, whether known or unknown, arising
under or in connection with the Loan Agreement, any other documents or instruments delivered pursuant thereto or the loan transactions
governed thereby or in any way based on or related to any of the foregoing, including, but not limited to, contract claims, tort
claims, malpractice claims, statutory claims and all other claims at law or in equity related to the rights and obligations sold
and assigned pursuant to clause (i) above (the rights and obligations sold and assigned by the Assignor to the Assignee pursuant
to clauses (i) and (ii) above being referred to herein collectively as the “Assigned
Interest”). Each such sale and assignment is without recourse to the Assignor and,
except as expressly provided in this Assignment and Assumption, without representation or warranty by the Assignor.

 

		1.	Assignor:	*	 

 

		2.	Assignee:	*	 

 

		3.	Borrower:	*	 

 

		4.	Administrative Agent:	Capital One, National Association.

 

		5.	Loan Agreement:	Loan Agreement, dated as of *___________________,

                                                                among Borrower, the Persons party thereto from time to

                                                                time as Lenders, and Capital One, National Association,
as Administrative Agent.

 

AMENDED
AND RESTATED LOAN AGREEMENT – Annex I to Exhibit C – Page 1

HTI MOB Portfolio

 

     

     

    

 

		6.	Assigned Interest:

  

	 

                                                                                 
	Assignor	 	 	 	Assignee	 	 	Aggregate
    

    Amount of 

    Commitment 

    / Loans for all

    Lenders	 	Amount
    of 

    Commitment / 

    Loans Assigned	 	Percentage
    

    Assigned of

    Commitment 

    / Loans	 	 	CUSIP
    Number
	 	 	 	 	 	 	 	 	$	 	$	 	*	%	 	 

 

The terms set forth in this Assignment and Assumption are hereby
agreed to.

 

	Effective Date: 	*		 

 

[Remainder of Page Intentionally Left Blank.

Signature Pages Follow.]

 

LOAN
AGREEMENT – Annex I to Exhibit C – Page 2

HTI MOB Portfolio

 

     

     

    

 

SIGNATURE PAGE OF ASSIGNOR TO ASSIGNMENT
AND ASSUMPTION

 

		*	
		 	 
		By:  	
		 	Name:	 
		 	Title:	 

 

LOAN
AGREEMENT – Annex I to Exhibit C – Page 3

HTI MOB Portfolio

 

     

     

    

 

SIGNATURE PAGE OF ASSIGNEE TO ASSIGNMENT
AND ASSUMPTION

 

		*	
		 	 
		By:  	
		 	Name:	 
		 	Title:	 

 

LOAN
AGREEMENT – Annex I to Exhibit C – Page 4

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SIGNATURE PAGE OF ADMINISTRATIVE AGENT TO

ASSIGNMENT AND ASSUMPTION

 

Consented to and Accepted:

 

CAPITAL ONE, NATIONAL ASSOCIATION,

as Administrative Agent

 

	By:  	 	
	 	Name:	 	
	 	Title:	Authorized Signatory	

 

LOAN
AGREEMENT – Annex I to Exhibit C – Page 5

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ANNEX 1 TO ASSIGNMENT AND ASSUMPTION

 

STANDARD TERMS AND CONDITIONS FOR

ASSIGNMENT AND ASSUMPTION

 

1.                 
Representations and Warranties.

 

1.1.       Assignor.
The Assignor (a) represents and warrants that (i) it is the legal and beneficial owner of the Assigned Interest, (ii) the Assigned
Interest is free and clear of any lien, encumbrance or other adverse claim, and (iii) it has full power and authority, and has
taken all action necessary, to execute and deliver this Assignment and Assumption and to consummate the transactions contemplated
hereby; and (b) assumes no responsibility with respect to (i) any statements, warranties or representations made in or in connection
with the Loan Agreement, any other Loan Document or the Environmental Indemnity Agreement, (ii) the execution, legality, validity,
enforceability, genuineness, sufficiency or value of the Loan Documents or the Environmental Indemnity Agreement or any collateral
thereunder, (iii) the financial condition of Borrower or Guarantor or their Affiliates or any other Person obligated in respect
of any Loan Document or the Environmental Indemnity Agreement, or (iv) the performance or observance by Borrower or Guarantor or
their Affiliates or any other Person of any of their respective obligations under any Loan Document or the Environmental Indemnity
Agreement.

 

1.2.       Assignee.
The Assignee (a) represents and warrants that (i) it has full power and authority, and has taken all action necessary, to
execute and deliver this Assignment and Assumption and to consummate the transactions contemplated hereby and to become a
Lender under the Loan Agreement, (ii) it meets all the requirements to be an assignee under *Section 11.3(b) of the Loan
Agreement (subject to such consents, if any, as may be required under *Section 11.3(b) of the Loan Agreement), (iii) from and
after the Effective Date, it shall be bound by the provisions of the Loan Agreement as a Lender thereunder and, to the extent
of the Assigned Interest, shall have the obligations of a Lender thereunder, (iv) it is sophisticated with respect to
decisions to acquire assets of the type represented by the Assigned Interest and either it, or the Person exercising
discretion in making its decision to acquire the Assigned Interest, is experienced in acquiring assets of such type, (v) it
has received a copy of the Loan Agreement, and has received or has been accorded the opportunity to receive copies of the
most recent financial statements referred to in *Section 5.3 thereof or delivered pursuant to *Section 6.1
thereof, as applicable, and such other documents and information as it deems appropriate to make its own credit analysis and
decision to enter into this Assignment and Assumption and to purchase the Assigned Interest, (vi) it has, independently and
without reliance upon Administrative Agent, the Assignor or any other Lender and based on such documents and information as
it has deemed appropriate, made its own credit analysis and decision to enter into this Assignment and Assumption and to
purchase the Assigned Interest, and (vi) if it is a Non-U.S. Lender Party, attached hereto is any documentation required to
be delivered by it pursuant to the terms of the Loan Agreement, duly completed and executed by the Assignee; and (b) agrees
that (i) it will, independently and without reliance upon Administrative Agent, the Assignor or any other Lender, and based
on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in
taking or not taking action under the Loan Documents and Environmental Indemnity Agreement, and (ii) it will perform in
accordance with their terms all of the obligations which by the terms of the Loan Documents and Environmental
Indemnity Agreement are required to be performed by it as a Lender.

 

LOAN
AGREEMENT – Annex I to Exhibit C – Page 6

HTI MOB Portfolio

 

     

     

    

 

2.                 
Payments. From and after the Effective Date, Administrative Agent shall make all payments in respect of the Assigned
Interest (including payments of principal, interest, fees and other amounts) to the Assignor for amounts which have accrued to
but excluding the Effective Date and to the Assignee for amounts which have accrued from and after the Effective Date.

 

3.                 
General Provisions. This Assignment and Assumption shall be binding upon, and inure to the benefit of, the parties
hereto and their respective successors and assigns. This Assignment and Assumption may be executed in any number of counterparts,
which together shall constitute one instrument. Delivery of an executed counterpart of a signature page of this Assignment and
Assumption by telecopy shall be effective as delivery of a manually executed counterpart of this Assignment and Assumption.

 

4.                 
THIS ASSIGNMENT AND ASSUMPTION SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK
WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPLES THAT WOULD REQUIRE THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION.

 

LOAN
AGREEMENT – Annex I to Exhibit C – Page 7

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EXHIBIT
E

 

Lender Addresses and Commitments

 

	Lender Name	 	Address	 	Commitment Amount	 
	Capital One, National Association	 	See addresses for

                                                                                Administrative Agent see

                                                                                Section 11.1(a)
	 	$	293,500,000	 
	Raymond James Bank, N.A.	 	Raymond James 
710 Carillon Parkway 
St. Petersburg, FL 33716 
	 	$	50,000,000	 
	Siemens Financial Services, Inc.	 	Siemens Financial Services, Inc. 
170 Wood Avenue South 
Iselin, NJ 08830 
	 	$	20,000,000	 
	First Bank	 	First Bank 
11901 Olive Boulevard 
Creve Coeur, MO 63141 
Attn: Phillip M. Lykens 
  
With a copy to: 
  
First Bank 
600 James S McDonnell Blvd., 
Hazelwood, MO 63042 
Attn: Andrea Abaza, Loan Servicing Manager	 	$	15,000,000	 
	 	 	Total:	 	$	378,500,000	 

 

LOAN
AGREEMENT – Exhibit E – Page 1

HTI MOB Portfolio

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