Document:

EX-10.2

JOINDER TO CREDIT AGREEMENT AND OTHER LOAN DOCUMENTS

This Joinder to Credit Agreement and Other Loan Documents (this “Joinder”) is made
this 14th day of September, 2011, by and among:

G&E HC REIT II ST. ANTHONY NORTH DENVER MOB, LLC, a Delaware limited liability company (the
"Additional Borrower”), with its principal executive offices at c/o Grubb & Ellis Equity
Advisors, LLC, 1551 North Tustin Avenue, Suite 300, Santa Ana, California 92705; and

BANK OF AMERICA, N.A., a national banking association, with a place of business at 135 South
LaSalle Street, Chicago, Illinois 60603, and the other lending institutions which may become
parties to the Credit Agreement (hereinafter, singly and collectively, the “Lender” or
"Lenders”), and BANK OF AMERICA, N.A., as Administrative Agent for itself and such other
lending institutions (in such capacity, the “Administrative Agent”),

in consideration of the mutual covenants herein contained and benefits to be derived herefrom.

W I T N E S S E T H:

A. Reference is made to a certain Credit Agreement dated as of July 19, 2010 (as amended,
modified, supplemented or restated and in effect from time to time, the “Credit
Agreement”), by and among the Administrative Agent, the Lenders, and Grubb & Ellis Healthcare
REIT II Holdings, LP, a Delaware limited partnership, G&E HC REIT II Lacombe MOB, LLC, a Delaware
limited liability company, G&E HC REIT II Parkway Medical Center, a Delaware limited liability
company, G&E HC REIT II St. Vincent Cleveland MOB, LLC, a Delaware limited liability company, G&E
HC REIT II Livingston MOB, LLC, a Delaware limited liability company, G&E HC REIT II Sylva MOB,
LLC, a Delaware limited liability company and G&E HC REIT II Ennis MOB, LLC, a Delaware limited
liability company (hereinafter, each such Borrower being referred to herein, singly and
collectively, and jointly and severally, as the “Borrower”). All capitalized terms used
herein, and not otherwise defined herein, shall have the meanings assigned to such terms in the
Credit Agreement.

B. The Additional Borrower desires to become a BBP Subsidiary to, and to be bound by the terms
of, the Credit Agreement and the other Loan Documents, as a “Borrower” thereunder, in the same
capacity and to the same extent as each existing Borrower thereunder (hereinafter, each such
existing Borrower being referred to herein, singly and collectively, and jointly and severally, as
the “Existing Borrower”).

C. Pursuant to the terms of the Credit Agreement, in order for the Additional Borrower to
become a party to the Credit Agreement and the other Loan Documents as provided in Section 6.12 of
the Credit Agreement, the Additional Borrower and the Existing Borrower are required to execute
this Joinder.

NOW, THEREFORE, in consideration of the premises contained herein and for other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties
hereto hereby agree as follows:

1. Joinder and Assumption of Obligations. Effective as of the date of this Joinder,
the Additional Borrower hereby acknowledges that the Additional Borrower has received and reviewed
a copy of the Credit Agreement, the Environmental Agreement and each other Loan Document, and
hereby acknowledges, covenants and agrees to:

(a) join in the execution of, and become a party to, the Credit Agreement as a Borrower
thereunder, and the Environmental Agreement as an Obligor thereunder, as indicated with its
signature below;

(b) be bound by all representations, warranties, covenants, agreements, liabilities and
acknowledgments of the Existing Borrower under the Credit Agreement, the Environmental Agreement
and the other Loan Documents, in each case, with the same force and effect as if such Additional
Borrower was a signatory to the Credit Agreement, the Environmental Agreement and the other Loan
Documents and was expressly named as a Borrower or Obligor therein; and

(c) assume all rights and interests and perform all applicable duties and Obligations of the
Existing Borrower under the Credit Agreement, the Environmental Agreement and the other Loan
Documents, jointly and severally with each Existing Borrower.

2. Representations, Warranties and Covenants. The Additional Borrower hereby makes
all representations, warranties and covenants set forth in the Credit Agreement, the Environmental
Agreement and the other Loan Documents as of the date hereof (other than representations,
warranties and covenants that relate solely to an earlier date). To the extent that any changes in
any representations, warranties and covenants require any amendments to the schedules to the Credit
Agreement or the Environmental Agreement, such schedules are hereby updated, as evidenced by any
supplemental schedules (if any) annexed to this Joinder.

3. Borrowing Base Property. The Additional Borrower will be utilizing loan proceeds
advanced under the Credit Agreement with respect to the following Borrowing Base Properties: 8510
Bryant Street, Westminster, Colorado (the “Westminster, Colorado Property”). The
Additional Borrower represents and warrants that use of such loan proceeds shall be in accordance
with the terms and conditions of the Credit Agreement.

4. Amendments to Loan Documents. The parties hereto hereby agree that the following
other Loan Documents shall be amended as follows:

(a) Credit Agreement. Schedules 5.08(b), 5.13(a), 5.13(b) and 5.24 to the Credit
Agreement are each hereby amended and restated in their entirety as shown on the corresponding
schedule attached hereto. From and after the date hereof, Schedules 5.08(b), 5.13(a), 5.13(b) and
5.24 to the Credit Agreement shall hereinafter mean and refer to each such schedule as amended and
restated hereby. In addition, the “Borrower” portion of Schedule 10.02 to the Credit Agreement is
hereby amended to include the Additional Borrower as shown on Schedule 10.02 attached hereto. From
and after the date hereof, the “Borrower” portion of Schedule 10.02 to the Credit Agreement shall
hereinafter mean and refer to such portion as amended hereby, and the remaining portions of
Schedule 10.02 shall remain unchanged.

(b) Environmental Agreement. The definition of “Property” and Exhibit A to the
Environmental Agreement are each hereby amended to include the Westminster, Colorado Property as
described on Exhibit A to Environmental Agreement attached hereto. From and after the date hereof,
the definition of “Property” and Exhibit A to the Environmental Agreement shall hereinafter mean
and include the Westminster, Colorado Property, as described on Exhibit A to Environmental
Agreement attached hereto. The address for the Additional Borrower under the Environmental
Agreement shall be the same address as is shown for the Existing Borrower. In addition, the
definition of “Phase I Reports” in the Environmental Agreement shall be amended to include the
following: “(vii) that certain Phase I Environmental Site Assessment Report for St. Anthony North
Medical Office Building dated April 4, 2011 and prepared by Partner Engineering and Science, Inc.
(Partner Project No.11-75552.      )”.

(c) Pledge Agreement. Section 5e. of the Pledge Agreement is hereby amended and
restated in its entirety as follows: “The BBP Borrowers are duly organized and validly existing
limited liability companies in good standing under the laws of the State of Delaware pursuant to
(i) that certain Limited Liability Company Agreement of G&E HC REIT II Lacombe MOB, LLC effective
as of January 12, 2010, (ii) that certain Limited Liability Company Agreement of G&E HC REIT II
Parkway Medical Center, LLC effective as of January 22, 2010, (iii) that certain Limited Liability
Company Agreement of G&E HC REIT II St. Vincent Cleveland MOB, LLC effective as of June 11, 2010,
(iv) that certain Limited Liability Company Agreement of G&E HC REIT II Livingston MOB, LLC
effective as of April 22, 2010, (v) that certain Limited Liability Company Agreement of G&E HC REIT
II Sylva MOB, LLC effective as of October 25, 2010, (vi) that certain Limited Liability Company
Agreement of G&E HC REIT II Ennis MOB, LLC effective as of November 23, 2010, and (vii) that
certain Limited Liability Company Agreement of G&E HC REIT II St. Anthony North Denver MOB, LLC
effective as of March 3, 2011 (collectively referred to herein as the “Organizational
Documents”), and have all requisite power and authority to own their properties and conduct
their business in all applicable jurisdictions.” In addition, Exhibit A to the Pledge Agreement is
hereby amended and restated in its entirety as shown on Exhibit A to Pledge Agreement attached
hereto. From and after the date hereof, Exhibit A to the Pledge Agreement shall hereinafter mean
and refer to such Exhibit A as amended and restated hereby.

5. Ratification of Loan Documents; Absence of Claims. Except as specifically amended
by this Joinder and the other documents executed and delivered in connection herewith, all of the
terms and conditions of the Credit Agreement, the Environmental Agreement, the Pledge Agreement and
the other Loan Documents shall remain in full force and effect as in effect prior to the date
hereof, without releasing any obligors thereon or collateral security therefore, and are hereby
ratified, confirmed, and reaffirmed, in all respects and without condition and shall continue in
full force and effect. Each Existing Borrower, the Additional Borrower, the Pledgor and the
Guarantor hereby acknowledges and agrees that none has any defense, right of setoff, recruitment,
claim or counterclaim against the Administrative Agent and/or any Lender, and to the extent any
defense, right of setoff, recruitment, claim or counterclaim exists, whether known or unknown, at
law or in equity, each Existing Borrower, the Additional Borrower, the Pledgor and the Guarantor
hereby WAIVES and RELEASES the Administrative Agent and each Lender therefrom.

6. Conditions Precedent to Effectiveness. This Joinder shall not be effective until
each of the following conditions precedent have been fulfilled to the reasonable satisfaction of
the Administrative Agent:

(a) This Joinder shall have been duly executed and delivered by the respective parties hereto,
and shall be in full force and effect and in form and substance reasonably satisfactory to the
Administrative Agent.

(b) All action on the part of the Additional Borrower and each other party necessary for the
valid execution, delivery and performance by the Additional Borrower, the Existing Borrower, the
Pledgor and the Guarantor of this Joinder and all other documentation, instruments, and agreements
to be executed in connection herewith shall have been duly and effectively taken and evidence
thereof reasonably satisfactory to the Administrative Agent shall have been provided to the
Administrative Agent.

(c) All due diligence items required under the Credit Agreement with respect to the proposed
Borrowing Base Properties have been delivered to the Administrative Agent and those conditions
precedent pursuant to Section 6.12 of the Credit Agreement have been fully satisfied.

(d) The Additional Borrower shall have delivered the following to the Administrative Agent, in
form and substance reasonably satisfactory to the Administrative Agent:

(i) A certified copy of such party’s certificate of formation and a certificate of
legal existence and good standing issued by the Secretary of the State of its incorporation
or organization, and evidence that such party is validly existing, in good standing and
qualified to engage in business in each jurisdiction where its ownership, lease or operation
of properties or the conduct of its business requires such qualification.

(ii) A certificate of an authorized officer relating to the organization and existence
of such party, the authorization of the transactions contemplated by the Loan Documents, and
attesting to the true signatures of each Person authorized as a signatory to any of the Loan
Documents, together with true and accurate copies of all organizational documents.

(iii) Execution and delivery by the Additional Borrower (and as applicable, the
Guarantor) of the following Loan Documents:

(A) Joinder to the Note;

(B) The Security Document required under Subsection 4.01(a) (iv) of the Credit
Agreement; and

(C) Such other applicable documents and agreements required by the
Administrative Agent.

(e) The Administrative Agent shall have received a written legal opinion of the Additional
Borrower’s counsel addressed to the Administrative Agent and the other Lenders, covering such
matters relating to the Additional Borrower, the Loan Documents and/or the transactions
contemplated thereby as the Administrative Agent shall reasonably request.

(f) All fees and expenses incurred by the Administrative Agent in connection with the
preparation and negotiation of this Joinder and related documents (including the reasonable fees
and expenses of counsel to the Administrative Agent) shall have been paid in full.

(g) No Default or Event of Default shall have occurred and be continuing.

(h) The Existing Borrower and the Guarantor shall have executed and delivered to the
Administrative Agent such additional documents, instruments and agreements as the Administrative
Agent may reasonably request.

7. Miscellaneous.

(a) This Joinder may be executed in several counterparts and by each party as a separate
counterpart, each of which when so executed and delivered shall be an original, and all of which
together shall constitute one instrument.

(b) This Joinder expresses the entire understanding of the parties with respect to the
transactions contemplated hereby. No prior negotiations or discussions shall limit, modify, or
otherwise affect the provisions hereof.

(c) Any determination that any provision of this Joinder or any application hereof is invalid,
illegal or unenforceable in any respect and in any instance shall not affect the validity,
legality, or enforceability of such provision in any other instance, or the validity, legality or
enforceability of any other provisions of this Joinder.

(d) The Borrower shall pay all fees and expenses of the Administrative Agent, including,
without limitation, reasonable attorneys’ fees in connection with the preparation, negotiation,
execution and delivery of this Joinder in accordance with the terms of the Credit Agreement.

(e) The Additional Borrower warrants and represents that the Additional Borrower has consulted
with independent legal counsel of its selection in connection with this Joinder and is not relying
on any representations or warranties of the Administrative Agent or the Lenders or their counsel in
entering into this Joinder.

THIS JOINDER SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF
ILLINOIS, WITHOUT GIVING EFFECT TO THE CONFLICTS OF LAWS PRINCIPLES THEREOF. THE ADDITIONAL
BORROWER AND EACH OTHER BORROWER, THE PLEDGOR AND THE GUARANTOR EACH ACKNOWLEDGES AND AGREES THAT
THE FOREGOING CHOICE OF ILLINOIS LAW WAS A MATERIAL INDUCEMENT FOR THE ADMINISTRATIVE AGENT AND THE
LENDERS TO ENTER INTO THIS JOINDER AND TO MAKE THE LOAN.

[SIGNATURE PAGES FOLLOW]

1

IN WITNESS WHEREOF, each of the undersigned have caused this Joinder to be duly executed and
delivered by its proper and duly authorized officer as of the date set forth above.

ADDITIONAL BORROWER:

G&E HC REIT II ST. ANTHONY

NORTH DENVER MOB, LLC,

a Delaware limited liability company

By: GRUBB & ELLIS HEALTHCARE REIT II

HOLDINGS, LP, a Delaware limited partnership,

its sole Member

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

a Maryland corporation, its general partner

By: /s/ Shannon K S Johnson

Name: Shannon K S Johnson

Title: Chief Financial Officer

BANK OF AMERICA, N.A.,

a national banking association,

as Administrative Agent on behalf of Lenders

By: /s/ Christopher A. Thangaraj

Name: Christopher A. Thangaraj

Title: Vice President

Consented to, Acknowledged and Agreed:

EXISTING BORROWER:

	 	 	GRUBB & ELLIS HEALTHCARE REIT II

	 	 	HOLDINGS, LP, a Delaware limited partnership

By: Grubb & Ellis Healthcare REIT II, Inc.,

a Maryland corporation, its general partner

	 
	By: /s/ Shannon K S Johnson

Name: Shannon K S Johnson

Title: Chief Financial Officer

G&E HC REIT II LACOMBE MOB, LLC,

a Delaware limited liability company

By: Grubb & Ellis Healthcare REIT II Holdings, LP,

a Delaware limited partnership, its sole Member

By: Grubb & Ellis Healthcare REIT II, Inc.,

a Maryland corporation, its general partner

	 
	By: /s/ Shannon K S Johnson

Name: Shannon K S Johnson

Title: Chief Financial Officer

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

a Delaware limited liability company

By: GRUBB & ELLIS HEALTHCARE REIT II

HOLDINGS, LP, a Delaware limited partnership,

its sole Member

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

a Maryland corporation, its general partner

By: /s/ Shannon K S Johnson

Name: Shannon K S Johnson

Title: Chief Financial Officer

G&E HC REIT II ST. VINCENT CLEVELAND MOB, LLC,

a Delaware limited liability company

By: GRUBB & ELLIS HEALTHCARE REIT II

HOLDINGS, LP, a Delaware limited partnership,

its sole Member

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

a Maryland corporation, its general partner

By: /s/ Shannon K S Johnson

Name: Shannon K S Johnson

Title: Chief Financial Officer

G&E HC REIT II LIVINGSTON MOB, LLC,

a Delaware limited liability company

By: GRUBB & ELLIS HEALTHCARE REIT II

HOLDINGS, LP, a Delaware limited partnership,

its sole Member

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

a Maryland corporation, its general partner

By: /s/ Shannon K S Johnson

Name: Shannon K S Johnson

Title: Chief Financial Officer

G&E HC REIT II SYLVA MOB, LLC,

a Delaware limited liability company

By: GRUBB & ELLIS HEALTHCARE REIT II

HOLDINGS, LP, a Delaware limited partnership,

its sole Member

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

a Maryland corporation, its general partner

By: /s/ Shannon K S Johnson

Name: Shannon K S Johnson

Title: Chief Financial Officer

G&E HC REIT II ENNIS MOB, LLC,

a Delaware limited liability company

By: GRUBB & ELLIS HEALTHCARE REIT II

HOLDINGS, LP, a Delaware limited partnership,

its sole Member

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

a Maryland corporation, its general partner

By: /s/ Shannon K S Johnson

Name: Shannon K S Johnson

Title: Chief Financial Officer

Consented to, Acknowledged and Agreed:

GUARANTOR:

GRUBB & ELLIS HEALTHCARE REIT II, INC.,

a Maryland corporation

By: /s/ Shannon K S Johnson

Name: Shannon K S Johnson

Title: Chief Financial Officer

Consented to, Acknowledged and Agreed:

PLEDGOR:

GRUBB & ELLIS HEALTHCARE REIT II

	 	 	HOLDINGS, LP, a Delaware limited partnership

By: Grubb & Ellis Healthcare REIT II, Inc.,

a Maryland corporation, its general partner

By: /s/ Shannon K S Johnson

Name: Shannon K S Johnson

Title: Chief Financial Officer

2EX-10.3

	 
	This Document Prepared By
and After Recording Return to:

	Beth S. Rubin
Riemer & Braunstein LLP
71 South Wacker Drive, Suite 3515
Chicago, Illinois 60606
Address of Property:

	8510 Bryant Street
Westminster, Colorado

FUTURE ADVANCE LEASEHOLD DEED OF TRUST,

ASSIGNMENT OF LEASES AND RENTS,

SECURITY AGREEMENT AND

FIXTURE FILING SECURING FUTURE ADVANCES

by

G&E HC REIT II ST. ANTHONY NORTH DENVER MOB, LLC,

a Delaware limited liability company,

as Grantor,

to PUBLIC TRUSTEE OF ADAMS COUNTY, COLORADO, as Trustee for the benefit of

BANK OF AMERICA, N.A.,

a national banking association,

as Administrative Agent

This Document Serves as a Fixture Filing under Section 4-9-502, Colorado Revised Statutes as
amended

Grantor’s Organizational Identification Numbers are 4948433 (Delaware)

and 20111132895 (Colorado)

1

Future Advance Leasehold Deed of Trust, of Leases and Rents,

Security Agreement and Fixture Filing Securing Future Advances

This Future Advance Leasehold Deed of Trust, Assignment of Leases and Rents, Security
Agreement and Fixture Filing Securing Future Advances (this “Deed of Trust”), is made as of
the 14th day of September, 2011 by G&E HC REIT II ST. ANTHONY NORTH DENVER MOB, LLC, a Delaware
limited liability company (“Grantor”), whose address is c/o Grubb & Ellis Equity Advisors,
LLC, 1551 North Tustin Avenue, Suite 300, Santa Ana, California 92705, Attention: Danny Prosky, to
the PUBLIC TRUSTEE OF ADAMS COUNTY COLORADO (“Trustee”) for the benefit of BANK OF AMERICA,
N.A., a national banking association with an address at 135 South LaSalle Street, 6th
Floor, Chicago, Illinois 60603, Attention: Michelle Herrick, as administrative agent
(“Administrative Agent”) under a Credit Agreement dated July 19, 2010 among Borrower (as
defined below), Bank of America, N.A., and the other lending institutions which become parties to
the Credit Agreement (Bank of America, N.A. and the other lending institutions which become parties
to the Credit Agreement are collectively referred to as “Lenders” and individually as
"Lender”).

Recitals

Grantor has requested that Administrative Agent and Lenders make the Loan (as hereinafter
defined) to Grantor and Grubb & Ellis Healthcare REIT II Holdings LP, a Delaware limited
partnership (together with each other party which becomes a borrower under the Credit Agreement,
each of whom with Grantor are referred to herein individually and collectively as
"Borrower”). As a condition precedent to making the Loan, Administrative Agent has
required that Grantor execute and deliver this Deed of Trust, Assignment of Leases and Rents,
Security Agreement and Fixture Filing to Trustee for the benefit of Administrative Agent.

Grants and Agreements

Now, therefore, in order to induce Administrative Agent and Lenders to make the Loan to
Borrower, Grantor agrees as follows:

Article I

Definitions.

As used in this Deed of Trust, the terms defined in the Preamble hereto shall have the
respective meanings specified therein, and the following additional terms shall have the meanings
specified:

"365(h) Election” shall mean the right of Grantor to treat the Ground Lease as
terminated pursuant to Section 365(h)(1)(A)(i) of the Bankruptcy Code or retain Grantor’s rights
under the Ground Lease pursuant to Section 365(h)(1)(A)(ii) of the Bankruptcy Code and all such
other rights, powers, and privileges granted to a lessee pursuant to Section 365(h) of the
Bankruptcy Code, together with all such other similar rights, powers and privileges granted to a
lessee under any other Debtor Relief Law.

"Accessories” means all fixtures, equipment, systems, machinery, furniture,
furnishings, appliances, inventory, goods, building and construction materials, supplies and other
articles of personal property, of every kind and character, tangible and intangible (including
software embedded therein), now owned or hereafter acquired by Grantor, which are now or hereafter
attached to or situated in, on or about the Land or Improvements, or used in or necessary to the
complete and proper planning, development, use, occupancy or operation thereof, or acquired
(whether delivered to the Land or stored elsewhere) for use or installation in or on the Land or
Improvements, and all Additions to the foregoing, all of which are hereby declared to be permanent
accessions to the Land.

"Accounts” means all accounts of Grantor within the meaning of the Uniform Commercial
Code of the State, derived from or arising out of the use, occupancy or enjoyment of the Property
or for services rendered therein or thereon.

"Additions” means any and all alterations, additions, accessions and improvements to
property, substitutions therefor, and renewals and replacements thereof.

"Bankruptcy Code” shall mean Title 11 of the United States Code entitled “Bankruptcy”,
as now and hereafter in effect, or any successor statute.

"Beneficiary” means Administrative Agent, on behalf of itself and certain other
Lenders, and its successors and assigns.

"Claim” means any liability, suit, action, claim, demand, loss, expense, penalty,
fine, judgment or other cost of any kind or nature whatsoever, including fees, costs and expenses
of attorneys, consultants, contractors and experts.

"Condemnation” means any taking of title to, use of, or any other interest in the
Property under the exercise of the power of condemnation or eminent domain, whether temporarily or
permanently, by any Governmental Authority or by any other Person acting under or for the benefit
of a Governmental Authority.

"Condemnation Awards” means any and all judgments, awards of damages (including
severance and consequential damages), payments, proceeds, settlements, amounts paid for a taking in
lieu of Condemnation, or other compensation heretofore or hereafter made, including interest
thereon, and the right to receive the same, as a result of, or in connection with, any Condemnation
or threatened Condemnation.

"Contract of Sale” means any contract for the sale of all or any part of the Property
or any interest therein, whether now in existence or hereafter executed.

"Credit Agreement” means the Credit Agreement dated July 19, 2010 among Borrower,
Administrative Agent and Lenders which sets forth, among other things, the terms and conditions
upon which the proceeds of the Loan will be disbursed, as the same may from time to time be
extended, amended, restated, supplemented or otherwise modified.

"Debtor Relief Laws” means the Bankruptcy Code or any other federal, state or local
law, domestic or foreign, as now or hereafter in effect relating to bankruptcy, insolvency,
liquidation, receivership, reorganization, arrangement, composition, extension or adjustment of
debts, or similar laws affecting the rights of creditors.

"Deed of Trust” means this Future Advance Leasehold Deed of Trust, Assignment of
Leases and Rents, Security Agreement and Fixture Filing Securing Future Advances, as the same may
from time to time be extended, amended, restated, supplemented or otherwise modified.

"Default” means an event or circumstance which, with the giving of Notice or lapse of
time, or both, would constitute an Event of Default under the provisions of this Deed of Trust.

"Design and Construction Documents” means, collectively, (a) all contracts for
services to be rendered, work to be performed or materials to be supplied in the development of the
Land or the construction or repair of Improvements, including all agreements with architects,
engineers or contractors for such services, work or materials; (b) all plans, drawings and
specifications for the development of the Land or the construction or repair of Improvements; (c)
all permits, licenses, variances and other rights or approvals issued by or obtained from any
Governmental Authority or other Person in connection with the development of the Land or the
construction or repair of Improvements; and (d) all amendments of or supplements to any of the
foregoing.

"Encumbrance” means any Lien, easement, right of way, roadway (public or private),
condition, covenant or restriction, Lease or other matter of any nature that would affect title to
the Property.

"Environmental Agreement” means the Environmental Indemnity Agreement dated July 19,
2010 by and among Borrower, Guarantor and Administrative Agent pertaining to the Property, as the
same may from time to time be extended, amended, restated or otherwise modified.

"Event of Default” means an event or circumstance specified in Article VI and
the continuance of such event or circumstance beyond the applicable grace and/or cure periods
therefor, if any, set forth in Article VI.

"Expenses” means all fees, charges, costs and expenses of any nature whatsoever
incurred at any time and from time to time (whether before or after an Event of Default) by
Beneficiary or Trustee in making, funding, administering or modifying the Loan, in negotiating or
entering into any “workout” of the Loan, or in exercising or enforcing any rights, powers and
remedies provided in this Deed of Trust or any of the other Loan Documents, including reasonable
attorneys’ fees, court costs, receiver’s fees, management fees and costs incurred in the repair,
maintenance and operation of, or taking possession of, or selling, the Property.

"Governmental Authority” means any governmental or quasi-governmental entity,
including any court, department, commission, board, bureau, agency, administration, service,
district or other instrumentality of any governmental entity.

"Grantor” means G&E HC REIT II St. Anthony North Denver MOB, LLC, a Delaware limited
liability company.

"Ground Lease” means that certain Medical Office Building Ground Lease dated as of
November 29, 2007 between Ground Lessor and SAN MOB I LLC (“Original Tenant”), a memorandum
of which was recorded with the Clerk and Recorder of Adams County, Colorado on December 6, 2007 at
Reception Number 2007000111932.

"Ground Lessor” means Catholic Health Initiatives Colorado, a nonprofit Colorado
corporation, d/b/a St. Anthony North Hospital, its succors and/or assigns.

"Guarantor” means Grubb & Ellis Healthcare REIT II, Inc., a Maryland corporation, and
its personal representatives, successors and assigns.

"Guaranty” means the Guaranty Agreement dated July 19, 2010 executed by Guarantor to
Administrative Agent for the benefit of Lenders, as the same may from time to time be extended,
amended, restated, supplemented or otherwise modified.

"Improvements” means all buildings, structures and other improvements now or hereafter
existing, erected or placed on the Land, together with any on-site improvements and off-site
improvements in any way used or to be used in connection with the use, enjoyment, occupancy or
operation of the Land.

"Insolvency Proceeding” means (a) any voluntary or involuntary case or proceeding
under the Bankruptcy Code with respect to Grantor or Ground Lessor, as applicable, (b) any other
voluntary or involuntary insolvency, reorganization or bankruptcy case or proceeding, or any
receivership, liquidation, reorganization or other similar case or proceeding with respect to
Grantor or Ground Lessor, as applicable, (c) any liquidation, dissolution, reorganization or
winding up of Grantor or Ground Lessor, as applicable, whether voluntary or involuntary and whether
or not involving insolvency or bankruptcy or (d) any assignment for the benefit of creditors or any
other marshalling of assets and liabilities of Grantor or Ground Lessor, as applicable.

"Insurance Proceeds” means the insurance claims under and the proceeds of any and all
policies of insurance covering the Property or any part thereof, including all returned and
unearned premiums with respect to any insurance relating to such Property, and also including,
without limitation, any proceeds or other benefits from any governmental or quasi-governmental
insurance program, in each case whether now or hereafter existing or arising.

"Land” means the real property described in Exhibit A attached hereto and made
a part hereof.

"Laws” means all federal, state and local laws, statutes, rules, ordinances,
regulations, codes, licenses, authorizations, decisions, injunctions, interpretations, orders or
decrees of any court or other Governmental Authority having jurisdiction as may be in effect from
time to time.

"Lease Damage Claims” means all of Grantor’s claims and rights to payment of damages
and other rights and remedies that may arise from (a) Ground Lessor’s failure to perform under the
Ground Lease, (b) rejection or disaffirmance of the Ground Lease under any Debtor Relief Law or in
connection with any Insolvency Proceeding involving Ground Lessor, (c) violation or breach by
Ground Lessor under the Ground Lease, or (d) Ground Lessor’s sale of Property pursuant to Section
363 of the Bankruptcy Code or similar provisions of any other Debtor Relief Law and all damages and
other sums payable with respect to or pursuant to any of the foregoing.

"Leases” means all leases, license agreements and other occupancy or use agreements
(whether oral or written), now or hereafter existing, excluding the Ground Lease, which cover or
relate to the Property or any part thereof, together with all options therefor, amendments thereto
and renewals, modifications and guaranties thereof, including any cash or security deposited under
the Leases to secure performance by the tenants of their obligations under the Leases, whether such
cash or security is to be held until the expiration of the terms of the Leases or applied to one or
more of the installments of rent coming due thereunder. All Leases shall be in compliance with
terms and provisions of the Credit Agreement.

"Lessee Bankruptcy Rights” means all of Grantor’s rights, remedies, powers, and
privileges arising at any time under, in, or in connection with or related to any Insolvency
Proceeding affecting Ground Lessor, including Grantor’s right (a) to object to Ground Lessor’s sale
of the Property under any Debtor Relief Law, including Bankruptcy Code Section 363, and (b) to make
the 365(h) Election, and any other comparable right under any other Debtor Relief Laws and all
claims, suits, actions, proceedings, rights, remedies and privileges related thereto or arising
therefrom, including Grantor’s right to claim any offset against rent and other charges and the
right to file and prosecute any proofs of claim, complaints, motions, applications, objections,
notices and any other document in any case relating to Ground Lessor under any Debtor Relief Laws,
any and all adequate protection or other value received by or to which Grantor is entitled to in
connection with any sale of the “Property” in connection with any Insolvency Proceeding involving
Ground Lessor.

"Letter of Credit” means any letter of credit for the account of Grantor or its
nominee in connection with the development of the Land or the construction of the Improvements,
together with any and all extensions, renewals or modifications thereof, substitutions therefor or
replacements thereof.

"Lien” means any mortgage, deed of trust, pledge, security interest, assignment,
judgment, lien or charge of any kind, including any conditional sale or other title retention
agreement, any lease in the nature thereof, and the filing of, or agreement to give, any financing
statement under the Uniform Commercial Code of any jurisdiction.

"Loan” means the loan from Lenders to Borrower, the repayment obligations in
connection with which are evidenced by the Note and the Credit Agreement.

"Loan Documents” means this Deed of Trust, the each Note, the Guaranty, the
Environmental Agreement, the Credit Agreement, any Swap Contract, any application or reimbursement
agreement executed in connection with any Letter of Credit, and any and all other documents which
Grantor, Borrower, Guarantor or any other party or parties have executed and delivered, or may
hereafter execute and deliver, to evidence, secure or guarantee the Obligations, or any part
thereof, as the same may from time to time be extended, amended, restated, supplemented or
otherwise modified.

"Note” means, singly or collectively, those certain Amended and Restated Promissory
Notes, each dated May 4, 2011, made by Borrower and payable, respectively, to the order of each
Lender in the principal face amount of that Lender’s Commitment, such Amended and Restated
Promissory Notes being in the aggregate original principal amount of Forty Five Million and No/100
Dollars ($45,000,000.00), bearing interest as provided in the Credit Agreement, as the same may
from time to time be extended, amended, restated, supplemented or otherwise modified.

"Notice” means a notice, request, consent, demand or other communication given in
accordance with the provisions of this Deed of Trust.

"Obligations” means all present and future debts, liabilities, obligations, covenants
and duties of Borrower to Beneficiary and Lenders and/or Trustee arising pursuant to, and/or on
account of, the provisions of this Deed of Trust, the Note, the Credit Agreement or any of the
other Loan Documents, including the obligations: (a) to pay all principal, interest, late charges,
prepayment premiums (if any) and other amounts due at any time under the Note; (b) to pay all
Expenses, indemnification payments, fees and other amounts due at any time under this Deed of Trust
or any of the other Loan Documents, together with interest thereon as herein or therein provided;
(c) to pay and perform all obligations of Borrower under any Swap Contract; (d) to perform, observe
and comply with all of the other terms, covenants and conditions, expressed or implied, which
Grantor and/or Borrower are required to perform, observe or comply with pursuant to this Deed of
Trust or any of the other Loan Documents; and (e) to pay and perform all future advances and other
obligations that Grantor or any successor in ownership of all or part of the Property may agree to
pay and/or perform (whether as principal, surety or guarantor) for the benefit of Beneficiary, when
a writing evidences the parties’ agreement that the advance or obligation be secured by this Deed
of Trust.

"Permitted Encumbrances” means (a) any matters set forth in any policy of title
insurance issued to Beneficiary and insuring Lenders’ interest in the Property which are acceptable
to Beneficiary as of the date hereof, (b) the Liens and interests of this Deed of Trust, and
(c) any other Encumbrance that Beneficiary shall expressly approve in its sole and absolute
discretion, as evidenced by a “marked-up” commitment for title insurance initialed on behalf of
Beneficiary or by a subsequent endorsement to any title insurance policy issued to Beneficiary and
insuring Administrative Agent’s and Lenders’ interest in the Property.

"Person” means an individual, a corporation, a partnership, a joint venture, a limited
liability company, a trust, an unincorporated association, any Governmental Authority or any other
entity.

"Personalty” means all personal property of any kind or nature whatsoever, whether
tangible or intangible and whether now owned or hereafter acquired, in which Grantor (or any
Borrower) now has or hereafter acquires an interest and which is used in the construction of, or is
placed upon, or is derived from or used in connection with the maintenance, use, occupancy or
enjoyment of, the Property, including (a) the Accessories; (b) the Accounts; (c) all franchise,
license, management or other agreements with respect to the operation of the Real Property or the
business conducted therein (provided all of such agreements shall be subordinate to this Deed of
Trust, and Beneficiary shall have no responsibility for the performance of Grantor’s obligations
thereunder) and all general intangibles (including payment intangibles, trademarks, trade names,
goodwill, software and symbols) related to the Real Property or the operation thereof; (d) all
“Special Declarant Rights”, including without limitation, all “Development Rights”, both of which
terms are defined in the Colorado Common Interest Ownership Act, Sections 38-33.3-101 through 319
of the Colorado Revised Statutes, as amended from time to time (“CIOA”) and any other comparable
rights of Grantor as declarant or successor to declarant arising now or in the future under (i)
CIOA or (ii) other applicable law; (e) all sewer and water taps, appurtenant water stock or water
rights, allocations and agreements for utilities, bonds, letters of credit, permits, certificates,
licenses, guaranties, warranties, causes of action, judgments, Claims, profits, security deposits,
utility deposits, and all rebates or refunds of fees, Taxes, assessments, charges or deposits paid
to any Governmental Authority related to the Real Property or the operation thereof; (f) all of
Grantor’s and Borrower’s rights and interests under all Swap Contracts, including all rights to the
payment of money from Beneficiary under any Swap Contract and all accounts, deposit accounts and
general intangibles, including payment intangibles, described in any Swap Contract; (g) all
insurance policies held by Grantor with respect to the Property or Grantor’s operation thereof;
(h) all money, instruments and documents (whether tangible or electronic) arising from or by virtue
of any transactions related to the Property, and all deposits and deposit accounts of Grantor (or
any Borrower) with Beneficiary related to the Property, including any such deposit account from
which Grantor may from time to time authorize Beneficiary to debit and/or credit payments due with
respect to the Loan; and (i) all sums at any time on deposit for the benefit of Grantor (or any
Borrower) or held by Beneficiary (whether deposited by or on behalf of Grantor or anyone else)
pursuant to any of the provisions of this Deed of Trust or the other Loan Documents together with
all Additions to and Proceeds of all of the foregoing.

"Proceeds,” when used with respect to any of the Property, means all proceeds of such
Property, including all Insurance Proceeds and all other proceeds within the meaning of that term
as defined in the Colorado Commercial Code, or such other state Uniform Commercial Code as is
applicable.

"Property” means the Real Property and the Personalty and all other rights, interests
and benefits of every kind and character which Grantor now has or hereafter acquires in, to or for
the benefit of the Real Property and/or the Personalty and all other property and rights used or
useful in connection therewith, including all Leases, all Rents, all Condemnation Awards, all
Proceeds, and all of Grantor’s right, title and interest in and to all Design and Construction
Contracts, all Contracts of Sale and all Refinancing Commitments.

"Property Assessments” means all Taxes, payments in lieu of taxes, water rents, sewer
rents, assessments, condominium and owner’s association assessments and charges, maintenance
charges and other governmental or municipal or public or private dues, charges and levies and any
Liens (including federal tax liens) which are or may be levied, imposed or assessed upon the
Property or any part thereof, or upon any Leases or any Rents, whether levied directly or
indirectly or as excise taxes, as income taxes, or otherwise.

"Real Property” means the Land and Improvements, together with (a) all estates, title
interests, title reversion rights, remainders, increases, issues, profits, rights of way or uses,
additions, accretions, servitudes, strips, gaps, gores, liberties, privileges, water rights, water
courses, alleys, passages, ways, vaults, licenses, tenements, franchises, hereditaments,
appurtenances, easements, rights-of-way, rights of ingress or egress, parking rights, timber,
crops, mineral interests and other rights, now or hereafter owned by Grantor and belonging or
appertaining to the Land or Improvements; (b) all right, title and interest of Grantor in all
development rights appurtenant to the Land or Improvements, including, but not limited to, any oil,
gas and other mineral rights; (c) all Claims whatsoever of Grantor with respect to the Land or
Improvements, either in law or in equity, in possession or in expectancy; (d) all estate, right,
title and interest of Grantor in and to all streets, roads and public places, opened or proposed,
now or hereafter adjoining or appertaining to the Land or Improvements; (e) all options to purchase
the Land or Improvements, or any portion thereof or interest therein, and any greater estate in the
Land or Improvements, and all Additions to and Proceeds of the foregoing; and (f) the leasehold
estate under the Ground Lease, including, without limitation, (i) all Lessor Bankruptcy Rights, and
(ii) all Lease Damage Claims, this Deed of Trust constituting a present, irrevocable and
unconditional assignment of Lease Damage Claims which shall continue in effect until the
Obligations have been satisfied.

"Refinancing Commitment” means any commitment from or other agreement with any Person
providing for the financing of the Property, some or all of the proceeds of which are intended to
be used for the repayment of all or a portion of the Loan.

"Rents” means all of the rents, royalties, issues, profits, revenues, earnings, income
and other benefits of the Property, or arising from the use or enjoyment of the Property, including
all such amounts paid under or arising from any of the Leases and all fees, charges, accounts or
other payments for the use or occupancy of rooms or other public facilities within the Real
Property.

"State” means the state in which the Land is located.

"Swap Contract” means any agreement, whether or not in writing, relating to any Swap
Transaction, including, unless the context otherwise clearly requires, any form of master agreement
(the “Master Agreement”) published by the International Swaps and Derivatives Association,
Inc., or any other master agreement, entered into prior to the date hereof or any time after the
date hereof, between Swap Counterparty and Borrower (or any Affiliate [as defined in the Credit
Agreement]), together with any related schedule and confirmation, as amended, supplemented,
superseded or replaced from time to time.

"Swap Counterparty” means Lender or an Affiliate of Lender, in its capacity as
counterparty under any Swap Contract.

"Swap Transaction” means any transaction that is a rate swap, basis swap, forward rate
transaction, commodity swap, commodity option, equity or equity index swap or option, bond option,
note or bill option, interest rate option, forward foreign exchange transaction, cap transaction,
collar transaction, floor transaction, currency swap transaction, cross-currency rate swap
transaction, swap option, currency option, credit swap or default transaction, T-lock, or any other
similar transaction (including any option to enter into the foregoing) or any combination of the
foregoing, entered into prior to the date hereof or anytime after the date hereof between Swap
Counterparty and Grantor (or its Affiliate) so long as a writing, such as a Swap Contract,
evidences the parties’ intent that such obligations shall be secured by this Deed of Trust (and any
other Mortgage [as such term is defined in the Credit Agreement]) in connection with the Loan.

"Taxes” means all taxes and assessments, whether general or special, ordinary or
extraordinary, or foreseen or unforeseen, which at any time may be assessed, levied, confirmed or
imposed by any Governmental Authority or any community facilities or other private district on
Grantor or on any of its properties or assets or any part thereof or in respect of any of its
franchises, businesses, income or profits.

"Transfer” means any direct or indirect sale, assignment, conveyance or transfer,
including any Contract of Sale and any other contract or agreement to sell, assign, convey or
transfer, whether made voluntarily or by operation of Law or otherwise, and whether made with or
without consideration.

"Trustee” means Public Trustee of Adams County, Colorado, or its successor in trust
who may be acting under and pursuant to this Deed of Trust from time to time.

"UCC” or “Uniform Commercial Code” means the Colorado Uniform Commerce Code,
as amended from time to time.

Article II

Granting Clauses; Condition of Grant.

Section 2.1 Conveyances and Security Interests.

In consideration of the provisions of this Deed of Trust and the sum of TEN DOLLARS ($10.00)
cash in hand paid and other good and valuable consideration the receipt and sufficiency of which
are acknowledged by Grantor, in order to secure the prompt payment and performance of the
Obligations, Grantor hereby (a) irrevocably and unconditionally GRANTS, CONVEYS, TRANSFERS AND,
ASSIGNS to Trustee, in trust, for the benefit of Beneficiary, with power of sale and right of entry
and possession, all of Grantor’s estate, right, title and interest now or hereafter acquired, in
and to the Real Property, with all rights, appurtenances, and privileges thereunto belonging, for
the use and benefit of Beneficiary, Beneficiary’s successors and assigns; (b) grants to Beneficiary
a security interest in all of Grantor’s right, title and interest in and to the Ground Lease,
including any options to purchase, extend or renew provided for in the Ground Lease and any
nondisturbance, attornment and recognition agreement benefiting Grantor with respect to the Ground
Lease, together with all credits, deposits, privileges, rights, estates, title and interest of
Grantor as tenant under the Ground Lease (including all rights of Grantor to treat the Ground Lease
as terminated pursuant to a 365(h) Election, or any other Debtor Relief Law, together with all
rights, remedies and privileges related thereto), and all books and records that contain records of
payments of rent or security made under the Ground Lease and all of Grantor’s claims and rights to
the payment of any Lease Damage Claim; (c) grants to Beneficiary a security interest in the
Personalty; (d) assigns to Beneficiary, and grants to Beneficiary a security interest in, all
Condemnation Awards and all Insurance Proceeds; (e) assigns to Beneficiary, and grants to
Beneficiary a security interest in, all of Grantor’s right, title and interest in, but not any of
Grantor’s obligations or liabilities under, all Swap Contracts, Design and Construction Documents,
all Contracts of Sale and all Refinancing Commitments, and all Letters of Credit; and (f) assigns
to Beneficiary, and grants to Beneficiary a security interest in, all Accounts arising from or
related to any transactions related to the Premises (including but not limited to Grantor’s rights
in tenants’ security deposits, deposits with respect to utility services to the Premises, and any
deposits, deposit accounts or reserves hereunder or under any other Loan Documents), and any
account or deposit account from which Grantor may from time to time authorize Beneficiary to debit
and/or credit payments due with respect to the Loan or any Swap Contract, all rights to the payment
of money from Beneficiary under any Swap Contract, and all accounts, deposit accounts and general
intangibles including payment intangibles, described in any Swap Contract. All Persons who may
have or acquire an interest in all or any part of the Property will be deemed to have notice of,
and will be bound by, the terms of the Obligations and each other agreement or instrument made or
entered into in connection with each of the Obligations. Such terms include any provisions in the
Note, the Credit Agreement or any Swap Contract which provide that the interest rate on one or more
of the Obligations may vary from time to time. This Deed of Trust secures all present and future
advances and/or future obligations that may from time to time be made or incurred by Borrower under
the Loan Documents (including without limitation under this Deed of Trust), and all other sums from
time to time owing to Lenders by Borrower under the Loan Documents (including without limitation
any existing Obligations incurred or any advances made at or prior to the filing of this Deed of
Trust of record in the real estate records of the county where the Property is situated). The
assignment of Grantor’s right, title and interest in all Design and Construction Documents shall
not terminate upon release, foreclosure or other termination of this Deed of Trust, but shall
survive foreclosure of the liens and security interest created by this Deed of Trust or conveyance
in lieu of foreclosure.

Section 2.2 Absolute Assignment of Leases and Rents.

In consideration of the making of the Loan by Lenders to Borrower, the sum of Ten and No/100
Dollars ($10.00) and other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, Grantor absolutely and unconditionally assigns the Leases and Rents to
Beneficiary for the benefit of Lenders. This assignment is, and is intended to be, an
unconditional, absolute and present assignment from Grantor to Beneficiary of all of Grantor’s
right, title and interest in and to the Leases and the Rents and not an assignment in the nature of
a pledge of the Leases and Rents or the mere grant of a security interest therein. So long as no
Event of Default shall exist, however, and so long as Grantor is not in default in the performance
of any obligation, covenant or agreement contained in the Leases, Grantor shall have a license
(which license shall terminate automatically and without notice upon the occurrence of an Event of
Default or a default by Grantor under the Leases) to collect, but not prior to accrual, all Rents.
Grantor agrees to collect and hold all Rents in trust for Beneficiary and to use the Rents for the
payment of the cost of operating and maintaining the Property and for the payment of the other
Obligations before using the Rents for any other purpose. The assignment of Leases and Rents shall
not terminate upon release, foreclosure or other termination of this Deed of Trust, but shall
survive foreclosure of the liens and security interest created by this Deed of Trust or conveyance
in lieu of foreclosure.

Section 2.3 Security Agreement and Financing Statement.

This Deed of Trust (a) creates a security interest in the Personalty, and, to the extent the
Personalty is not real property, this Deed of Trust constitutes a security agreement from Grantor
to Beneficiary under the Uniform Commercial Code of the State (or such other state as is
applicable) to the extent any of the Personalty has been or may be acquired with funds advanced by
Beneficiary under the Loan Documents, the security interest granted hereunder is a purchase money
security interest, and (b) creates a security interest in favor of Beneficiary for all sums at any
time on deposit for the benefit of Grantor or held by Beneficiary (whether deposited by or on
behalf of Grantor or anyone else) pursuant to any of the provisions of this Deed of Trust or the
other Loan Documents. In addition to all of its other rights under this Deed of Trust and
otherwise, Beneficiary shall have all of the rights of a secured party under the Uniform Commercial
Code of the State, as in effect from time to time, or under the Uniform Commercial Code in force
from time to time in any other state to the extent the same is applicable Law. This Deed of Trust
shall also be effective as a financing statement with respect to any other Property as to which a
security interest may be perfected by the filing of a financing statement and may be filed as such
in any appropriate filing or recording office. Until such time as the Obligations have been paid
in full, or until the security interest granted hereby has been released in writing by Beneficiary,
this Deed of Trust shall remain fully effective as a security agreement, notwithstanding that the
lien on Real Property may be extinguished or released by foreclosure of this Deed of Trust.
Grantor is the “Debtor” and Beneficiary is the “Secured Party” (as such terms are defined and used
in the Uniform Commercial Code of the State). The respective mailing addresses of Grantor and
Beneficiary are set forth in the Preamble to this Deed of Trust. A carbon, photographic or other
reproduction of this Deed of Trust or any other financing statement relating to this Deed of Trust
shall be sufficient as a financing statement for any of the purposes referred to in this Section.
Grantor hereby irrevocably authorizes Beneficiary at any time and from time to time to file any
initial financing statements, amendments thereto and continuation statements as authorized by
applicable Law, reasonably required by Beneficiary to establish or maintain the validity,
perfection and priority of the security interests granted in this Deed of Trust. The foregoing
authorization includes Grantor’s irrevocable authorization for Beneficiary at any time and from
time to time to file any initial financing statements and amendments thereto that indicate the
Personalty (i) as “all assets” of Grantor or words of similar effect, regardless of whether any
particular asset comprised in the Personalty falls within the scope of the Uniform Commercial Code
of the State or the jurisdiction where the initial financing statement or amendment is filed, or
(ii) as being of an equal or lesser scope or with greater detail.

Section 2.4 Fixture Financing Statement.

From the date of its recording, this Deed of Trust shall be effective as a fixture financing
statement within the purview of the Uniform Commercial Code with respect to the Real Property and
the goods described herein, which goods are or are to become fixtures related to the Real Property
(collectively, with the Personalty and other items described in Section 2.3 above, referred
to herein as the “Collateral”). The addresses of Grantor (Debtor) and Beneficiary (Secured
Party) are set forth in the Preamble to this Deed of Trust. This Deed of Trust is to be filed for
recording with the Recorder of Deeds of the county or the counties where the Property is located.
Grantor hereby appoints Beneficiary as its attorney-in-fact to execute and file on its behalf any
financing statements, continuation statements or other statements in connection therewith which
Beneficiary deems necessary or reasonably advisable to preserve and maintain the priority of the
lien hereof, or to extend the effectiveness thereof, under the Uniform Commercial Code or any other
laws which may hereafter become applicable. This power, being coupled with an interest, shall be
irrevocable so long as any part of the Obligations remains unpaid. Grantor shall pay to
Beneficiary, from time to time, upon demand, any and all costs and expenses incurred by Beneficiary
in connection with the filing of any such statements including, without limitation, reasonable
attorneys’ fees and all disbursements and such amounts shall be part of the Obligations secured by
this Deed of Trust.

Section 2.5 Release of Deed of Trust and Termination of Assignments and Financing
Statements.

If and when Borrower has paid and performed all of the Obligations, and no further advances
are to be made under the Credit Agreement, Trustee, upon request by Beneficiary will provide a
release of the Property from the lien of this Deed of Trust and termination statements for filed
financing statements, if any, and an original copy of this Deed of Trust and copies of such other
original documents as may be requested by Trustee in connection with the release (or, as may be
permitted by statute, an affidavit in respect of any original documents that are not available) to
Grantor. Grantor shall be responsible to obtain such release from Trustee and for the recordation
of such release and the payment of any recording and filing costs. Upon the recording of such
release and the filing of such termination statements, the absolute assignments set forth in
Section 2.2 shall automatically terminate and become null and void.

Article III

Representations and Warranties.

	 	 	 
	Grantor makes the following representations and warranties to Beneficiary and Lenders:

	Section 3.1

	 	Title to Real Property.
	
 
	 	 

Grantor (a) owns good and marketable leasehold title to the Real Property, (b) owns all of the
beneficial and equitable leasehold interest in and to the Real Property, and (c) is lawfully seized
and possessed of the leasehold interest in and to the Real Property. Grantor has the right and
authority to convey the leasehold interest in and to the Real Property and does hereby convey the
leasehold interest in and to the Real Property with general warranty. The Real Property is subject
to no Encumbrances other than the Permitted Encumbrances.

Section 3.2 Title to Other Property.

Grantor has good title to the Personalty, and the Personalty is not subject to any Encumbrance
other than the Permitted Encumbrances. None of the Leases, Rents, Design and Construction
Documents, Contracts of Sale or Refinancing Commitments are subject to any Encumbrance other than
the Permitted Encumbrances.

Section 3.3 Property Assessments.

The Real Property is assessed for purposes of Property Assessments as a separate and distinct
parcel from any other property, such that the Real Property shall never become subject to the Lien
of any Property Assessments levied or assessed against any property other than the Real Property.

Section 3.4 Independence of the Real Property.

Except as set forth in any Permitted Encumbrance, no buildings or other improvements on
property not covered by this Deed of Trust rely on the Real Property or any interest therein to
fulfill any requirement of any Governmental Authority for the existence of such property, building
or improvements; and none of the Real Property relies, or will rely, on any property not covered by
this Deed of Trust or any interest therein to fulfill any requirement of any Governmental
Authority. The Real Property has been properly subdivided from all other property in accordance
with the requirements of any applicable Governmental Authorities.

Section 3.5 Existing Improvements.

The existing Improvements, if any, were, to the best of Grantor’s knowledge, constructed, and
are being used and maintained, in accordance with all applicable Laws, including zoning Laws.

Section 3.6 Leases and Tenants.

The Leases are valid and are in full force and effect, and are in strict compliance with the
requirements set forth in the Credit Agreement. Grantor is not in default under any of the terms
thereof. Except as expressly permitted in the Credit Agreement, Grantor has not accepted any Rents
in advance of the time the same became due under the Leases and has not forgiven, compromised or
discounted any of the Rents. Grantor has title to and the right to assign the Leases and Rents to
Beneficiary, and no other assignment of the Leases or Rents has been granted. To the best of
Grantor’s knowledge and belief, no tenant or tenants occupying, individually or in the aggregate,
more than five percent (5%) of the net rentable area of the Improvements are in default under their
Lease(s) or are the subject of any bankruptcy, insolvency or similar proceeding.

Section 3.7 Specific Representations, Warranties and Covenants Regarding Ground Lease.

In addition to Grantor’s representations, warranties and covenants elsewhere contained herein,
and without limitation of same, Grantor specifically represents, warrants, covenants and agrees as
follows as to the Ground Lease:

(a) Rent. Grantor will promptly pay, when due and payable, the rent and all other
sums and charges mentioned in and made payable by Grantor under the Ground Lease.

(b) Compliance. Grantor will promptly perform and observe all of the terms, covenants
and conditions required to be performed and observed by Grantor as tenant under the Ground Lease,
within the periods provided in the Ground Lease, and will do all things necessary to preserve and
to keep unimpaired its rights under the Ground Lease.

(c) Acquisition of Fee. Grantor shall not acquire the fee interest in the Land
without the prior written approval of the Beneficiary. In the event Grantor acquires fee title to
the Land, such interest shall be deemed to be subject to and covered by this Deed of Trust, and in
confirmation thereof, Grantor shall promptly execute, acknowledge and deliver such instruments,
documents and agreements as may be reasonably required by Beneficiary to affirm, and perfect
Beneficiary’s interest in such Property, including without limitation, a Deed of Trust or deed of
trust to confirm Grantor’s right, title and interest in and to the fee title of Grantor to the
Land.

(d) Lessor’s Default. Grantor shall promptly notify Beneficiary in writing of any
default by Ground Lessor in the performance or observance of any of the material terms, covenants
or conditions on the part of Ground Lessor to be performed or observed under the Ground Lease.
Further, Grantor, promptly upon learning that Ground Lessor has failed to perform the material
terms and provisions under the Ground Lease (including by reason of a rejection or disaffirmance or
purported rejection or disaffirmance of such Ground Lease pursuant to any Debtor Relief Law), shall
notify Beneficiary of any such failure to perform.

(e) Grantor’s Default. Grantor shall (i) promptly notify Beneficiary in writing of
the receipt by Grantor of any written notice from Ground Lessor of any default by Grantor in the
performance or observance of any of the terms, covenants, or conditions on the part of Grantor to
be performed or observed under the Ground Lease; (ii) promptly notify Beneficiary in writing of the
receipt by Grantor of any written notice from Ground Lessor of termination of the Ground Lease
pursuant to the provisions of the Ground Lease, and (iii) promptly cause a copy of each such notice
described above received by Grantor from Ground Lessor under the Ground Lease to be delivered to
Beneficiary.

(f) Estoppel Certificates. After the date hereof, Grantor will, within the time
period for delivery of estoppels set forth in the Ground Lease and subject to the limitations
therein on the frequency of which they can be requested, after written demand from Beneficiary, use
commercially reasonable efforts to obtain from Ground Lessor and deliver to Beneficiary an estoppel
certificate in form and substance reasonably satisfactory to Beneficiary stating that the Ground
Lease is in full force and effect, is unmodified, that no notice of termination thereon has been
served on Grantor or Ground Lessor, as the case may be, stating the date to which the rent has been
paid, stating whether there are any defaults thereunder and specifying the nature of such defaults.

(g) Proof of Payment. Grantor will furnish Beneficiary within fifteen (15) days of
the request therefor, proof of payment of all items which are required to be paid by Grantor
pursuant to the Ground Lease.

(h) Waiver, Modification of Amendment; No Subordination. Grantor shall not consent to
any waiver or modification, amendment or cancellation of any provision of the Ground Lease without
the prior written consent of Beneficiary. Grantor shall not consent to the subordination of the
Ground Lease to any Deed of Trust or deed of trust of the fee interest of Ground Lessor in the Land
without the prior written consent of the Beneficiary.

(i) Cure of Default. Grantor shall execute and deliver, on request of Beneficiary,
such instruments as Beneficiary may reasonably request and deem useful or required to permit
Beneficiary to cure any default under the Ground Lease or permit Beneficiary to take such other
action as Beneficiary reasonably considers desirable to cure or remedy the matter in default and
preserve the interest of Beneficiary in the Property to the extent that Grantor shall not be
diligently pursing such cure.

(j) Authority to Act on Behalf of Grantor. During an Event of Default hereunder,
Grantor hereby authorizes Beneficiary to pay any and all rental payments or similar sums to be paid
by Grantor payment of which is then due under the Ground Lease, with interest and penalties thereon
if charged by Ground Lessor under the Ground Lease; and to incur and pay all sums reasonably
necessary to protect Beneficiary’s rights hereunder and under the Ground Lease. Such sums shall be
included in the amount due and owing pursuant to the Credit Agreement and shall accrue interest at
the rate provided for therein.

(k) Present Possession of Leasehold. The interest of the tenant under the Ground
Lease is presently vested in Grantor.

(l) No Existing Default. To the best of Grantor’s knowledge, there is no existing
default (or occurrence which with the lapse of time would constitute a default) or grounds for
default under the provisions of the Ground Lease or in the performance of any of the terms,
covenants, conditions or warranties thereof on the part of Grantor or Ground Lessor thereof to be
kept, performed and observed under the Ground Lease.

(m) Early Termination of Ground Lease. If the Ground Lease is for any reason
whatsoever terminated prior to the natural expiration of its term, and if, pursuant to any
provision of the Ground Lease or otherwise, Beneficiary or its designee shall acquire from Ground
Lessor thereunder, another lease of the Property, Grantor shall have no right, title or interest in
or to such other lease or the leasehold estate created thereby.

Section 3.8 Treatment of Ground Lease in Bankruptcy of Ground Lessor.

(a) Rejection or Affirmation of Ground Lease. If Ground Lessor rejects the Ground
Lease pursuant to Section 365 of the Bankruptcy Code, then Grantor shall not exercise a 365(h)
Election in favor of terminating the Ground Lease without the prior written consent of Beneficiary.
To the extent permitted by law, Grantor shall not suffer, permit or consent to the termination of
any Ground Lease pursuant to the Debtor Relief Law without Beneficiary’s prior written consent.
Grantor acknowledges that because the Ground Lease is a primary element of Beneficiary’s security
for the Obligations secured hereunder, it is not anticipated that Beneficiary would consent to
termination of any Ground Lease. If Grantor (or Beneficiary as assignee from Grantor of any 365(h)
Election) makes any 365(h) Election in violation of this Deed of Trust, then such 365(h) Election
shall be void and of no force or effect.

(b) 365(h) Election. To the extent permitted by law, Grantor hereby assigns to
Beneficiary the 365(h) Election until the Obligations secured hereunder have been satisfied in
full. Grantor acknowledges and agrees that the foregoing assignment of the 365(h) Election is one
of the rights that Beneficiary, subject to the terms herein, may use at any time to protect and
preserve Beneficiary’s other rights and interests under this Deed of Trust. Grantor further
acknowledges that exercise of the 365(h) Election by Grantor in favor of terminating the Ground
Lease without Beneficiary’s prior consent would constitute waste prohibited by this Deed of Trust.
Notwithstanding anything to the contrary in this Section 3.8, prior to an Event of Default,
Beneficiary shall not exercise the 365(h) Election in favor of terminating the Ground Lease without
Grantor’s consent. Grantor acknowledges and agrees that the 365(h) Election is in the nature of a
remedy available to Grantor under the Ground Lease, and is not a property interest that Grantor can
separate from the Ground Lease as to which it arises. Therefore, Grantor agrees and acknowledges
that exercise of the 365(h) Election in favor of preserving the right to possession under the
Ground Lease shall not be deemed to constitute Beneficiary’s taking or sale of the Land (or any
element thereof) and shall not entitle Grantor to any credit against the Obligations secured
hereunder or otherwise impair Beneficiary’s remedies.

(c) Lien on Occupancy Rights. Grantor acknowledges that if the 365(h) Election is
exercised in favor of Grantor’s remaining in possession under the Ground Lease, then Grantor’s
resulting occupancy rights, as adjusted by the effect of Section 365 of the Bankruptcy Code, shall
then be part of the Property and shall be subject to the lien of this Deed of Trust.

(d) Rejection of Lease by Lessor. If Ground Lessor rejects or disaffirms any Ground
Lease or purports or seeks to disaffirm such Ground Lease pursuant to any Debtor Relief Law, then:

(i) To the fullest extent not prohibited by applicable law, Grantor shall remain in
possession subject to any Leases of the Property demised under the Ground Lease and shall
perform all acts reasonably necessary for Grantor to remain in such possession for the
unexpired term of the Ground Lease (including all renewals), whether the then existing terms
and provisions of the Ground Lease require such acts or otherwise; and

(ii) All the terms and provisions of this Deed of Trust and the lien created by this
Deed of Trust shall remain in full force and effect and shall extend automatically to all of
Grantor’s rights and remedies arising at any time under, or pursuant to, Section 365(h) of
the Bankruptcy Code, including all of Grantor’s rights to remain in possession of the
Property.

(e) Setoff by Grantor. If pursuant to Section 365(h)(1)(B) of the Bankruptcy Code or
any other similar Debtor Relief Law, Grantor seeks to setoff against any rent under the Ground
Lease the amount of any Lease Damage Claim, then Grantor shall notify Beneficiary of its intent to
do so at least twenty (20) days before effecting such setoff. Such Notice shall set forth the
amounts proposed to be so setoff and the basis for such setoff. If Beneficiary reasonably objects
to all or any part of such setoff, then Grantor shall not effect any setoff of the amounts to which
Beneficiary reasonably objects. If Beneficiary approves such setoff, then Grantor may affect such
setoff as set forth in Grantor’s setoff notice. Neither Beneficiary’s failure to object, nor any
objection or other communication between Beneficiary and Grantor that relates to such offset, shall
constitute Beneficiary’s approval of any such offset. Grantor shall indemnify Beneficiary against
any offset against the rent reserved in any Lease.

(f) Ground Lessor’s Sale of Land. In connection with any Insolvency Proceeding of
Ground Lessor, Grantor, after receipt of notice that Ground Lessor intends to conduct a sale of the
Property, shall promptly notify Beneficiary of such intention and, to the fullest extent not
prohibited by applicable law, Grantor shall timely file any and all objections, pleadings and
notices contesting and objecting to Ground Lessor’s intention to sell the Property, whether such
sale is pursuant to Section 363 of the Bankruptcy Code or any other Debtor Relief Law.

(g) Notice of Bankruptcy. Grantor, upon learning of any Insolvency Proceeding of
Ground Lessor, shall immediately notify Beneficiary of such Insolvency Proceeding, including using
good faith efforts to provide all relevant information pertaining thereto, including jurisdiction,
case number, and relevant case information. Grantor, upon learning of any actions by Ground Lessor
to sell, encumber or otherwise effect the Property, or terminate, reject or assign the Ground
Lease, shall promptly notify Beneficiary, including using commercially reasonable efforts to
provide Beneficiary with copies of any and all notices and pleadings filed in connection with the
foregoing.

Article IV

Affirmative Covenants.

Section 4.1 Obligations.

Grantor agrees to promptly pay and perform, or cause Borrower to pay and perform, all of the
Obligations, time being of the essence in each case.

Section 4.2 Property Assessments; Documentary Taxes.

Grantor (a) will promptly pay in full and discharge all Property Assessments, and (b) will
furnish to Beneficiary, upon demand, the receipted bills for such Property Assessments prior to the
day upon which the same shall become delinquent. Property Assessments shall be considered
delinquent as of the first day any interest or penalty commences to accrue thereon. Grantor will
promptly pay all stamp, documentary, recordation, transfer and intangible taxes and all other taxes
that may from time to time be required to be paid with respect to the Loan, the Note, this Deed of
Trust or any of the other Loan Documents.

Section 4.3 Permitted Contests.

Grantor shall not be required to pay any of the Property Assessments, or to comply with any
Law, so long as Grantor shall in good faith, and at its cost and expense, contest the amount or
validity thereof, or take other appropriate action with respect thereto, in good faith and in an
appropriate manner or by appropriate proceedings; provided that (a) such proceedings operate to
prevent the collection of, or other realization upon, such Property Assessments or enforcement of
the Law so contested, (b) there will be no sale, forfeiture or loss of the Property during the
contest, (c) none of Beneficiary, Lenders or Trustee are subjected to any Claim as a result of such
contest, and (d) Grantor provides assurances satisfactory to Beneficiary (including the
establishment of an appropriate reserve account with Beneficiary) of its ability to pay such
Property Assessments or comply with such Law in the event Grantor is unsuccessful in its contest.
Each such contest shall be promptly prosecuted to final conclusion or settlement, and Grantor shall
indemnify and save Beneficiary and Trustee harmless against all Claims in connection therewith.
Promptly after the settlement or conclusion of such contest or action, Grantor shall comply with
such Law and/or pay and discharge the amounts which shall be levied, assessed or imposed or
determined to be payable, together with all penalties, fines, interests, costs and expenses in
connection therewith.

Section 4.4 Compliance with Laws.

Grantor will comply with and not violate, and cause to be complied with and not violated, all
present and future Laws applicable to the Property and its use and operation.

Section 4.5 Maintenance and Repair of the Property.

Grantor, at Grantor’s sole expense, will (a) keep and maintain Improvements and Accessories in
good condition, working order and repair, and (b) make all necessary or appropriate repairs and
Additions to Improvements and Accessories, so that each part of the Improvements and all of the
Accessories shall at all times be in good condition and fit and proper for the respective purposes
for which they were originally intended, erected or installed.

Section 4.6 Additions to Security.

All right, title and interest of Grantor in and to all Improvements and Additions hereafter
constructed or placed on the Property and in and to any Accessories hereafter acquired shall,
without any further deed of trust, conveyance, assignment or other act by Grantor, become subject
to the Lien of this Deed of Trust as fully and completely, and with the same effect, as though now
owned by Grantor and specifically described in the granting clauses hereof. Grantor agrees,
however, to execute and deliver to Beneficiary and/or Trustee such further documents as may be
required by the terms of the Credit Agreement and the other Loan Documents.

Section 4.7 Subrogation.

To the extent permitted by Law, Beneficiary shall be subrogated, notwithstanding its release
of record, to any Lien now or hereafter existing on the Property to the extent that such Lien is
paid or discharged by Beneficiary whether or not from the proceeds of the Loan. This Section shall
not be deemed or construed, however, to obligate Beneficiary to pay or discharge any Lien.

Section 4.8 Leases.

(a) Except as expressly permitted in the Credit Agreement, Grantor shall not enter into any
Lease with respect to all or any portion of the Property without the prior written consent of
Beneficiary.

(b) Neither Beneficiary nor Trustee shall be obligated to perform or discharge any obligation
of Grantor under any Lease. The assignment of Leases provided for in this Deed of Trust in no
manner places on Beneficiary or Trustee any responsibility for (i) the control, care, management or
repair of the Property, (ii) the carrying out of any of the terms and conditions of the Leases,
(iii) any waste committed on the Property, or (iv) any dangerous or defective condition on the
Property (whether known or unknown).

(c) No approval of any Lease by Beneficiary shall be for any purpose other than to protect
Beneficiary’s security and to preserve Beneficiary’s rights under the Loan Documents, and no such
approval shall result in a waiver of a Default or Event of Default.

Section 4.9 Insurance.

Grantor will at all times keep the Property insured in the manner and to the extent required
in the Credit Agreement. In addition, if the area where the Property is located is now or in the
future designated as a special flood hazard area pursuant to the Flood Disaster Protection Act of
1973 (as amended), and if the community where the Property is located is participating in the
National Flood Insurance Program, Grantor will obtain and continuously maintain a National Flood
Insurance Program Standard Flood Insurance Policy or equivalent covering the Property. Beneficiary
may, from time to time, require such additional insurance as Beneficiary may determine is
reasonably necessary to protect Beneficiary’s Lien hereunder or to assure repayment of all the
Obligations.

Section 4.10 Insurance/Condemnation Proceeds.

All Insurance/Condemnation Awards will be paid to Beneficiary for application to the
Obligations in the manner and to the extent provided in the Credit Agreement.

Section 4.11 Beneficiary’s Right to Cause Performance of Covenants.

If Grantor fails to maintain any insurance and pay the premiums for insurance as required in
this Article, to pay all taxes, penalties, assessments, charges, and claims as required in this
Article, or to repair and maintain any of the Property as required in this Article, or if Grantor
fails to keep or perform any of Grantor’s other covenants herein, Beneficiary may obtain such
insurance, cause such repairs and maintenance to be made, pay such taxes, penalties, assessments,
charges, or claims, or cause such other covenants to be performed. Grantor will pay to Beneficiary
on demand all amounts paid by Beneficiary for the foregoing and the amount of all expenses incurred
by Beneficiary in connection therewith, together with interest thereon from the date when incurred.
Such amounts and interest are secured by this Deed of Trust, which creates a Lien in the Property
prior to any right, title, interest, lien, or claim in or upon the Property subordinate to the Lien
of this Deed of Trust. Any such payments by Beneficiary will not be deemed a waiver of any Default
or Event of Default. Beneficiary is not obligated to exercise Beneficiary’s rights under this
Section and is not liable to Grantor for any failure to do so.

Article V

Negative Covenants.

Section 5.1 Encumbrances.

Grantor will not permit any of the Property to become subject to any Encumbrance other than
the Permitted Encumbrances. Within thirty (30) days after the filing of any mechanic’s lien or
other Lien or Encumbrance against the Property, Grantor will promptly discharge the same by payment
or filing a bond or otherwise as permitted by Law. So long as Beneficiary’s security has been
protected by the filing of a bond or otherwise in a manner satisfactory to Beneficiary in its sole
and absolute discretion, Grantor shall have the right to contest in good faith any Claim, Lien or
Encumbrance, provided that Grantor does so diligently and without prejudice to Beneficiary or delay
in completing construction of the Improvements. Grantor shall give Beneficiary Notice of any
default under any Lien and Notice of any foreclosure or threat of foreclosure with respect to any
of the Property.

Section 5.2 Transfer of the Property.

Grantor will not Transfer, or contract to Transfer, all or any part of the Property or any
legal or beneficial interest therein (except for certain Transfers of the Accessories expressly
permitted in this Deed of Trust). A Change of Control (as such term is defined in the Credit
Agreement) shall be deemed to be a prohibited Transfer of the Property.

Section 5.3 Removal, Demolition or Alteration of Accessories and Improvements.

Except to the extent permitted by the following sentence and to the extent required to comply
with the terms of the Ground Lease, no Improvements or Accessories shall be removed, demolished or
materially altered without the prior written consent of Beneficiary. Grantor may remove and
dispose of, free from the Lien of this Deed of Trust, such Accessories as from time to time become
worn out or obsolete, provided that, either (a) at the time of, or prior to, such removal, any such
Accessories are replaced with other Accessories which are free from Liens other than Permitted
Encumbrances and have a value at least equal to that of the replaced Accessories (and by such
removal and replacement Grantor shall be deemed to have subjected such Accessories to the Lien of
this Deed of Trust), or (b) so long as a prepayment may be made without the imposition of any
premium pursuant to the Note, such Accessories are sold at fair market value for cash and the net
cash proceeds received from such disposition are paid over promptly to Beneficiary to be applied to
the prepayment of the principal of the Loan.

Section 5.4 Additional Improvements.

Grantor will not construct any Improvements other than those presently on the Land and those
described in the Credit Agreement without the prior written consent of Beneficiary. Grantor will
complete and pay for, within a reasonable time, any Improvements which Grantor is permitted to
construct on the Land. Grantor will construct and erect any permitted Improvements (a) strictly in
accordance with all applicable Laws and any private restrictive covenants, (b) entirely on lots or
parcels of the Land, (c) so as not to encroach upon any easement or right of way or upon the land
of others, and (d) wholly within any building restriction and setback lines applicable to the Land.

Section 5.5 Restrictive Covenants, Zoning, etc.

Without the prior written consent of Beneficiary, Grantor will not initiate, join in, or
consent to any change in, any restrictive covenant, easement, zoning ordinance or other public or
private restrictions limiting or defining the uses which may be made of the Property. Grantor
(a) will promptly perform and observe, and cause to be performed and observed, all of the terms and
conditions of all agreements affecting the Property, and (b) will do or cause to be done all things
necessary to preserve intact and unimpaired any and all easements, appurtenances and other
interests and rights in favor of, or constituting any portion of, the Property.

Article VI

Events of Default.

The occurrence or happening, from time to time, of any one or more of the following shall
constitute an Event of Default under this Deed of Trust:

Section 6.1 Payment Obligations.

Grantor or any other Borrower fails to pay (i) any of the Obligations within five (5) days
when due (provided, however, there shall be no five (5) day grace period for amounts due at
maturity or upon acceleration of the Loan), or (ii) within five (5) days after the same becomes
due, any other amount payable hereunder or under any other Loan Document.

Section 6.2 Transfers.

Grantor Transfers, or contracts to Transfer, all or any part of the Property or any legal or
beneficial interest therein (except for Transfers of the Accessories expressly permitted under this
Deed of Trust). A Change in Control shall be deemed to be a prohibited Transfer of the Property
constituting an Event of Default.

Section 6.3 Other Obligations.

Grantor fails to promptly perform or comply with any of the Obligations set forth in this Deed
of Trust (other than those expressly described in other Sections of this Article VI), and
such failure continues uncured for a period of thirty (30) days after Notice from Beneficiary to
Grantor.

Section 6.4 Event of Default Under Other Loan Documents.

An Event of Default (as defined therein) occurs under the Note or the Credit Agreement, or
Borrower or Guarantor fails to promptly pay, perform, observe or comply with any obligation or
agreement contained in any of the other Loan Documents (within any applicable grace or cure
period).

Section 6.5 Change in Zoning or Public Restriction.

Any change in any zoning ordinance or regulation or any other public restriction is enacted,
adopted or implemented that limits or defines the uses which may be made of the Property such that
the present or intended use of the Property, as specified in the Loan Documents, would be in
violation of such zoning ordinance or regulation or public restriction, as changed.

Section 6.6 Default Under Leases.

Grantor fails duly to perform its obligations under any Material Lease (as such term is
defined in the Credit Agreement), and such failure is not cured within the grace period, if any,
provided in the Material Lease.

Section 6.7 Default Under Other Lien Documents.

A default occurs under any other mortgage, deed of trust or security agreement covering the
Property, including any Permitted Encumbrances.

Section 6.8 Execution; Attachment.

Any execution or attachment is levied against any of the Property, and such execution or
attachment is not set aside, discharged or stayed within thirty (30) days after the same is levied.

Section 6.9 Default Under Ground Lease; Termination.

The occurrence of (a) a default or event of default (however defined or described) under the
terms and conditions of any Ground Lease if such default is not cured after notice and within any
grace period applicable thereto, or (b) any termination of the Ground Lease without Beneficiary’s
consent.

Article VII

Rights and Remedies.

Upon the happening of any Event of Default, Beneficiary, or Trustee at the direction of
Beneficiary, shall have the right, in addition to any other rights or remedies available to
Beneficiary under any of the Loan Documents or applicable Law, to exercise any one or more of the
following rights, powers or remedies:

Section 7.1 Acceleration.

Beneficiary may accelerate all Obligations under the Loan Documents whereupon such Obligations
shall become immediately due and payable, without notice of default, notice of acceleration or
intention to accelerate, presentment or demand for payment, protest, notice of protest, notice of
nonpayment or dishonor, or notices or demands of any kind or character (all of which are hereby
waived by Grantor).

Section 7.2 Foreclosure; Power of Sale.

Upon the occurrence of any Event of Default, and whether or not Beneficiary shall have
accelerated the maturity of the Obligations pursuant to Section 7.1 hereof, Beneficiary, at
its option, may initiate foreclosure of this Deed of Trust insofar as it encumbers the Property,
either by judicial action or by way of a trustee’s sale pursuant to the provisions of Title 38,
Article 38, Colorado Revised Statutes, as currently in effect, as amended, or in any other manner
than permitted by law. Foreclosure through Trustee will be initiated by Beneficiary filing of its
notice of election and demand for sale with Trustee. Trustee shall have the power to sell and
dispose of the Property as Beneficiary may deem best as Trustee may deem best or as Beneficiary may
direct. Upon the filing of such notice of election and demand for sale, Trustee shall promptly
comply with all notice and other requirements of the laws of Colorado then in force with respect to
such sales, and shall give four (4) weeks public notice of the time and place of such sale by
advertisement weekly in some newspaper of general circulation then published in the county or city
and county in which the Property is located. Any sale conducted by Trustee pursuant to this
Section 7.2 shall be held at the front door of the county courthouse for such county or
city and county, or on the Property, or at such other place as similar sales are then customarily
held in such county or city and county, provided that the actual place of sale shall be specified
in the notice of sale. All reasonable fees, costs and expenses of any kind incurred by Beneficiary
in connection with foreclosure of this Deed of Trust, including, without limitation, the costs of
any appraisals of the Property obtained by Beneficiary, all costs of any receivership for the
Property advanced by Beneficiary, and all reasonable attorneys’ and consultants’ fees incurred by
Beneficiary, shall constitute a part of the Obligations and may be included as part of the amount
owing from Grantor to Beneficiary at a foreclosure sale. Except as otherwise provided by law, the
proceeds of any sale under this Section 7.2 shall be applied first to the fees and expenses
of the officer conducting the sale, and then to the reduction or discharge of the Obligations; any
surplus remaining shall be paid over to Grantor or to such other person or persons as may be
lawfully entitled to such surplus. At the conclusion of any foreclosure sale, the officer
conducting the sale shall execute and deliver to the purchaser at the sale a certificate of
purchase which shall describe the property sold to such purchaser and shall state that upon the
expiration of any applicable periods for redemption, the holder of such certificate will be
entitled to a deed to the property described in the certificate. After the expiration of any
applicable periods of redemption, the officer who conducted such sale shall, upon request, execute
and deliver an appropriate deed to the holder of the certificate of purchase or the last
certificate of redemption, as the case may be. Nothing in this Section 7.2 or elsewhere in
this Deed of Trust, dealing with public trustee foreclosure procedures or specifying particular
actions to be taken by Beneficiary or by Trustee or any similar officer shall be deemed to
contradict or add to the requirements and procedures now or hereafter specified by Colorado law,
and any such inconsistency shall be resolved in favor of Colorado law applicable at the time of
foreclosure.

Section 7.3 Remedies under the Credit Agreement.

Without limiting the other rights and remedies of Beneficiary set forth in this Deed of Trust,
Beneficiary may exercise any and all rights and remedies of Beneficiary specified in the Credit
Agreement, or at law or equity.

Section 7.4 Possession of Property Not Required.

Upon any sale of any item of the Property made pursuant to judicial proceedings for
foreclosure (“Judicial Sale”), it will not be necessary for any public officer acting under
execution or order of the court (a “Selling Official”) to have any of the Property present
or constructively in his possession.

Section 7.5 Deeds of Trust of Conveyance and Transfer.

Upon the completion of every Judicial Sale, the Selling Official will execute and deliver to
each purchaser a bill of sale or deed of conveyance, as appropriate, for the items of the Property
that are sold. Grantor hereby grants every such Selling Official the power as the attorney-in-fact
of Grantor to execute and deliver in Grantor’s name all deeds, bills of sale and conveyances
necessary to convey and transfer to the purchaser all of Grantor’s rights, title and interest in
the items of Property which are sold. Grantor hereby ratifies and confirms all that such
attorneys-in-fact lawfully do pursuant to such power. Nevertheless, Grantor, if so requested by
the Selling Official or by any purchaser, will ratify any such sale by executing and delivering to
such Selling Official or to such purchaser, as applicable, such deeds, bills of sale or other Deeds
of Trust of conveyance and transfer as may be specified in any such request.

Section 7.6 Recitals.

The recitals contained in any mortgage of conveyance or transfer made by a Selling Official to
any purchaser at any Judicial Sale will, to the extent permitted by law, conclusively establish the
truth and accuracy of the matters stated therein, including the amount of the Obligations, the
occurrence of a an Event of Default, and the advertisement and conduct of such Judicial Sale in the
manner provided herein or under applicable law, and the qualification of the Selling Official. All
prerequisites to such Judicial Sale will be presumed from such recitals to have been satisfied and
performed.

Section 7.7 Divestiture of Title; Bar.

To the extent permitted by applicable law, every Judicial Sale, and every sale made as
contemplated by this Deed of Trust, will operate to divest all rights, title, and interest of
Grantor in and to the items of the Property that are sold, and will be a perpetual bar, both at law
and in equity, against Grantor and Grantor’s heirs, executors, administrators, personal
representatives, successors and assigns, and against everyone else, claiming the item sold either
from, through or under Grantor or Grantor’s heirs, executors, administrators, personal
representatives, successors or assigns.

Section 7.8 Receipt of Purchase Money Sufficient Discharge.

A receipt from any person authorized to receive the purchase money paid at any Judicial Sale,
or other sale contemplated by this Deed of Trust, will be sufficient discharge therefor to the
purchaser. After paying such purchase money and receiving such receipt, neither such purchaser nor
such purchaser’s heirs, executors, administrators, personal representatives, successors or assigns
will have any responsibility or liability respecting the application of such purchase money or any
loss, misapplication or non-application of any of such purchase money, or to inquire as to the
authorization, necessity, expediency or regularity of any such sale.

Section 7.9 Purchase by Beneficiary.

In any Judicial Sale, or other public sale made as contemplated by this Deed of Trust,
Beneficiary may bid for and purchase any of the Property being sold, and will be entitled, upon
presentment of the relevant Loan Documents and documents evidencing the same, to apply the amount
of the Obligations held by it against the purchase price for the items of the Property so
purchased. The amount so applied will be credited against the Obligations in accordance with the
terms of the Credit Agreement.

Section 7.10 Sale of Portion of Property.

The Lien created by this Deed of Trust, as it pertains to any Property that remains unsold,
will not be affected by a Judicial Sale of less than all of the Property.

Section 7.11 Judicial Action.

Beneficiary shall have the right from time to time to sue Grantor for any sums (whether
interest, damages for failure to pay principal or any installments thereof, taxes, or any other
sums required to be paid under the terms of this Deed of Trust, as the same become due), without
regard to whether or not any of the other Obligations shall be due, and without prejudice to the
right of Beneficiary thereafter to enforce any appropriate remedy against Grantor, including an
action of foreclosure or an action for specific performance, for a Default or Event of Default
existing at the time such earlier action was commenced.

Section 7.12 Collection of Rents.

Upon the occurrence of an Event of Default, the license granted to Grantor to collect the
Rents shall be automatically and immediately revoked, without further notice to or demand upon
Grantor. Beneficiary may, but shall not be obligated to, perform any or all obligations of the
landlord under any or all of the Leases, and Beneficiary may, but shall not be obligated to,
exercise and enforce any or all of Grantor’s rights under the Leases. Without limitation to the
generality of the foregoing, Beneficiary may notify the tenants under the Leases that all Rents are
to be paid to Beneficiary, and following such notice all Rents shall be paid directly to
Beneficiary and not to Grantor or any other Person other than as directed by Beneficiary, it being
understood that a demand by Beneficiary on any tenant under the Leases for the payment of Rent
shall be sufficient to warrant payment by such tenant of Rent to Beneficiary without the necessity
of further consent by Grantor. Grantor hereby irrevocably authorizes and directs the tenants under
the Lease to pay all Rents to Beneficiary instead of to Grantor, upon receipt of written notice
from Beneficiary, without the necessity of any inquiry of Grantor and without the necessity of
determining the existence or non-existence of an Event of Default. Grantor hereby appoints
Beneficiary as Grantor’s attorney-in-fact with full power of substitution, which appointment shall
take effect upon the occurrence of an Event of Default and is coupled with an interest and is
irrevocable prior to the full and final payment and performance of the Obligations, in Grantor’s
name or in Beneficiary’s name: (a) to endorse all checks and other instruments received in payment
of Rents and to deposit the same in any account selected by Beneficiary; (b) to give receipts and
releases in relation thereto; (c) to institute, prosecute and/or settle actions for the recovery of
Rents; (d) to modify the terms of any Leases including terms relating to the Rents payable
thereunder; (e) to cancel any Leases; (f) to enter into new Leases; and (g) to do all other acts
and things with respect to the Leases and Rents which Beneficiary may deem necessary or desirable
to protect the security for the Obligations. Any Rents received shall be applied first to pay all
Expenses and next in reduction of the other Obligations. Grantor shall pay, on demand, to
Beneficiary, the amount of any deficiency between (i) the Rents received by Beneficiary, and (ii)
all Expenses incurred together with interest thereon as provided in the Credit Agreement and the
other Loan Documents.

Section 7.13 Receiver.

Upon, or at any time prior or after, the filing of any complaint to foreclose the lien of this
Deed of Trust or instituting any other foreclosure of the liens and security interests provided for
in this Deed of Trust or any other legal proceedings under this Deed of Trust, Beneficiary may, at
Beneficiary’s sole option, make application to a court of competent jurisdiction for appointment of
a receiver pursuant to applicable Law for all or any part of the Property, as a matter of strict
right and without notice to Grantor, and Grantor does hereby agree it is Grantor’s express
intention and agreement pursuant to Colorado Revised Statutes §38-38-602(3) that Beneficiary shall
have the right and be absolutely entitled to the appointment of a receiver as provided herein,
waives any and all notices of and defenses to such appointment and agrees not to oppose any
application therefor by Beneficiary, but nothing herein is construed to deprive Beneficiary of any
other right, remedy or privilege Beneficiary may now have under the law to have a receiver
appointed; provided that the appointment of such receiver, trustee or other appointee by virtue of
any court order, statute or regulation shall not impair or in any manner prejudice the rights of
Beneficiary to receive payment of all of the rents, issues, deposits and profits pursuant to other
terms and provisions set forth in this Deed of Trust. Such appointment may be made either before
or after sale, without notice; without regard to the solvency or insolvency, at the time of
application for such receiver, of the person or persons, if any, liable for the payment of the
Obligations; without regard to the value of the Property at such time and whether or not the same
is then occupied as a homestead; without bond being required of the applicant; and Beneficiary
hereunder or any employee or agent thereof may be appointed as such receiver. Such receiver shall
have all powers and duties prescribed by applicable Law, including the power to take possession,
control and care of the Property and to collect all rents, issues, deposits, profits and avails
thereof during the pendency of such foreclosure suit and apply all funds received toward the
Obligations, and in the event of a sale and a deficiency, as well as during any further times when
Grantor or its administrators, legal representatives, successors or assigns, except for the
intervention of such receiver, would be entitled to collect such rents, issues, deposits, profits
and avails, and shall have all other powers that may be necessary or useful in such cases for the
protection, possession, control, management and operation of the Property during the whole of any
such period. To the extent permitted by law, such receiver may extend or modify any then existing
Leases and make new leases of the Property or any part thereof, which extensions, modifications and
new leases may provide for terms to expire, or for options to lessees to extend or renew terms to
expire, beyond the maturity date of the Loan, it being understood and agreed that any such leases,
and the options or other such provisions to be contained therein, shall be binding upon Grantor and
all persons whose interests in the Property are subject to the lien hereof, and upon the purchaser
or purchasers at any such foreclosure sale, notwithstanding any redemption from sale, discharge of
indebtedness, satisfaction of foreclosure decree or issuance of certificate of sale or deed to any
purchaser.

Section 7.14 Taking Possession or Control of the Property.

As a matter of right without regard to the adequacy of the security, and to the extent
permitted by Law without notice to Grantor, Beneficiary shall be entitled, upon application to a
court of competent jurisdiction, to the immediate appointment of a receiver for all or any part of
the Property and the Rents, whether such receivership may be incidental to a proposed sale of the
Property or otherwise, and Grantor hereby consents to the appointment of such a receiver and agrees
that such receiver shall have all of the rights and powers granted to Beneficiary pursuant to
Section 7.13. In addition, to the extent permitted by Law, and with or without the
appointment of a receiver, or an application therefor, Beneficiary may (a) enter upon, and take
possession of (and Grantor shall surrender actual possession of), the Property or any part thereof,
without notice to Grantor and without bringing any legal action or proceeding, or, if necessary by
force, legal proceedings, ejectment or otherwise, and (b) remove and exclude Grantor and its agents
and employees therefrom.

Section 7.15 Management of the Property.

Upon obtaining possession of the Property or upon the appointment of a receiver as described
in Section 7.13, Beneficiary, Trustee or the receiver, as the case may be, may, at its sole
option, (a) make all necessary or proper repairs and Additions to or upon the Property, (b)
operate, maintain, control, make secure and preserve the Property, and (c) complete the
construction of any unfinished Improvements on the Property and, in connection therewith, continue
any and all outstanding contracts for the erection and completion of such Improvements and make and
enter into any further contracts which may be necessary, either in their or its own name or in the
name of Grantor (the costs of completing such Improvements shall be Expenses secured by this Deed
of Trust and shall accrue interest as provided in the Credit Agreement and the other Loan
Documents). Beneficiary, Trustee or such receiver shall be under no liability for, or by reason
of, any such taking of possession, entry, holding, removal, maintaining, operation or management,
except for gross negligence or willful misconduct. The exercise of the remedies provided in this
Section shall not cure or waive any Event of Default, and the enforcement of such remedies, once
commenced, shall continue for so long as Beneficiary shall elect, notwithstanding the fact that the
exercise of such remedies may have, for a time, cured the original Event of Default.

Section 7.16 Uniform Commercial Code.

Beneficiary may proceed under the Uniform Commercial Code as to all or any part of the
Personalty, and in conjunction therewith may exercise all of the rights, remedies and powers of a
secured creditor under the Uniform Commercial Code. Upon the occurrence of any Event of Default,
Grantor shall assemble all of the Accessories and make the same available within the Improvements.
Any notification required by the Uniform Commercial Code shall be deemed reasonably and properly
given if sent in accordance with the Notice provisions of this Deed of Trust at least ten (10) days
before any sale or other disposition of the Personalty. Disposition of the Personalty shall be
deemed commercially reasonable if made pursuant to a public sale advertised at least twice in a
newspaper of general circulation in the community where the Property is located. It shall be
deemed commercially reasonable for Beneficiary or Trustee to dispose of the Personalty without
giving any warranties as to the Personalty and specifically disclaiming all disposition warranties.

Section 7.17 Application of Proceeds.

Unless otherwise provided by applicable Law, all proceeds from the sale of the Property or any
part thereof pursuant to the rights and remedies set forth in this Article VII and any
other proceeds received by Beneficiary from the exercise of any of its other rights and remedies
hereunder or under the other Loan Documents shall be applied first to pay all Expenses and next in
reduction of the other Obligations, in such manner and order as Beneficiary may elect.

Section 7.18 Other Remedies.

Beneficiary shall have the right from time to time to protect, exercise and enforce any legal
or equitable remedy against Grantor provided under the Loan Documents or by applicable Laws.

Article VIII

[Reserved].

Article IX

Miscellaneous.

Section 9.1 Scope of Deed of Trust.

This Deed of Trust is a deed of trust and mortgage of both real and personal property, a
security agreement, an assignment of rents and leases, a financing statement and fixture filing and
a collateral assignment, and also covers proceeds and fixtures.

Section 9.2 Notice to Account Debtors.

In addition to the rights granted elsewhere in this Deed of Trust, Beneficiary may at any time
notify the account debtors or obligors of any accounts, chattel paper, general intangibles,
negotiable instruments or other evidences of indebtedness included in the Collateral to pay
Beneficiary directly.

Section 9.3 Rights, Powers and Remedies Cumulative.

Each right, power and remedy of Beneficiary or Trustee as provided for in this Deed of Trust,
or in any of the other Loan Documents or now or hereafter existing by Law, shall be cumulative and
concurrent and shall be in addition to every other right, power or remedy provided for in this Deed
of Trust, or in any of the other Loan Documents or now or hereafter existing by Law, and the
exercise or beginning of the exercise by Beneficiary or Trustee of any one or more of such rights,
powers or remedies shall not preclude the simultaneous or later exercise by Beneficiary or Trustee
of any or all such other rights, powers or remedies.

Section 9.4 No Waiver by Beneficiary or Trustee.

No course of dealing or conduct by or among Beneficiary, Trustee or any Lender and Grantor
shall be effective to amend, modify or change any provisions of this Deed of Trust or the other
Loan Documents. No failure or delay by Beneficiary or Trustee to insist upon the strict
performance of any term, covenant or agreement of this Deed of Trust or of any of the other Loan
Documents, or to exercise any right, power or remedy consequent upon a breach thereof, shall
constitute a waiver of any such term, covenant or agreement or of any such breach, or preclude
Beneficiary or Trustee from exercising any such right, power or remedy at any later time or times.
By accepting payment after the due date of any of the Obligations, neither Beneficiary nor Trustee
shall be deemed to waive the right either to require prompt payment when due of all other
Obligations, or to declare an Event of Default for failure to make prompt payment of any such other
Obligations. Neither Borrower nor any other Person now or hereafter obligated for the payment of
the whole or any part of the Obligations shall be relieved of such liability by reason of (a) the
failure of Beneficiary to comply with any request of Grantor or of any other Person to take action
to foreclose this Deed of Trust or otherwise enforce any of the provisions of this Deed of Trust,
or (b) any agreement or stipulation between any subsequent owner or owners of the Property and
Beneficiary, or (c) Beneficiary’s extending the time of payment or modifying the terms of this Deed
of Trust or any of the other Loan Documents without first having obtained the consent of Grantor,
Borrower or such other Person. Regardless of consideration, and without the necessity for any
notice to or consent by the holder of any subordinate Lien on the Property, Beneficiary may release
any Person at any time liable for any of the Obligations or any part of the security for the
Obligations and may extend the time of payment or otherwise modify the terms of this Deed of Trust
or any of the other Loan Documents without in any way impairing or affecting the Lien of this Deed
of Trust or the priority of this Deed of Trust over any subordinate Lien. The holder of any
subordinate Lien shall have no right to terminate any Lease regardless of whether or not such Lease
is subordinate to this Deed of Trust. Beneficiary may resort to the security or collateral
described in this Deed of Trust or any of the other Loan Documents in such order and manner as
Beneficiary may elect in its sole discretion.

Section 9.5 Waivers and Agreements Regarding Remedies.

To the full extent Grantor may do so, Grantor hereby:

(a) to the full extent permitted by law, hereby voluntarily and knowingly waives its rights to
reinstatement and redemption, and to the full extent permitted by law, waives the benefits of all
present and future valuation, appraisement, homestead, exemption, stay, extension or redemption,
right to notice of election to accelerate the Obligations, and moratorium laws under any state or
federal law;

(b) waives all rights to a marshaling of the assets of Grantor or Borrower, including the
Property, or to a sale in the inverse order of alienation in the event of a foreclosure of the
Property, and agrees not to assert any right under any Law pertaining to the marshaling of assets,
the sale in inverse order of alienation, the exemption of homestead, the administration of estates
of decedents, or other matters whatsoever to defeat, reduce or affect the right of Beneficiary
under the terms of this Deed of Trust to a sale of the Property without any prior or different
resort for collection, or the right of Beneficiary to the payment of the Obligations out of the
proceeds of sale of the Property in preference to every other claimant whatsoever;

(c) waives any right to bring or utilize any defense, counterclaim or setoff, other than one
which denies the existence or sufficiency of the facts upon which any foreclosure action is
grounded. If any defense, counterclaim or setoff, other than one permitted by the preceding
clause, is timely raised in a foreclosure action, such defense, counterclaim or setoff shall be
dismissed. If such defense, counterclaim or setoff is based on a Claim which could be tried in an
action for money damages, such Claim may be brought in a separate action which shall not thereafter
be consolidated with the foreclosure action. The bringing of such separate action for money
damages shall not be deemed to afford any grounds for staying the foreclosure action; and

(d) waives and relinquishes any and all rights and remedies which Grantor or any Borrower may
have or be able to assert by reason of the provisions of any Laws pertaining to the rights and
remedies of sureties.

Section 9.6 Successors and Assigns.

All of the grants, covenants, terms, provisions and conditions of this Deed of Trust shall run
with the Land and shall apply to and bind the representatives, successors and assigns of Grantor
(including any permitted subsequent owner of the Property), and inure to the benefit of
Beneficiary, on behalf of Lenders, and their respective successors and assigns, and to the
successors in trust of Trustee.

Section 9.7 No Warranty by Beneficiary or Trustee.

By inspecting the Property or by accepting or approving anything required to be observed,
performed or fulfilled by Grantor or to be given to Beneficiary or Trustee pursuant to this Deed of
Trust or any of the other Loan Documents, Beneficiary and Trustee shall not be deemed to have
warranted or represented the condition, sufficiency, legality, effectiveness or legal effect of the
same, and such acceptance or approval shall not constitute any warranty or representation with
respect thereto by Beneficiary or Trustee.

Section 9.8 Amendments.

This Deed of Trust may not be modified or amended except by an agreement in writing, signed by
the party against whom enforcement of the change is sought.

Section 9.9 Severability.

In the event any one or more of the provisions of this Deed of Trust or any of the other Loan
Documents shall for any reason be held to be invalid, illegal or unenforceable, in whole or in part
or in any other respect, or in the event any one or more of the provisions of the Loan Documents
operates or would prospectively operate to invalidate this Deed of Trust or any of the other Loan
Documents, then and in either of those events, at the option of Beneficiary, such provision or
provisions only shall be deemed null and void and shall not affect the validity of the remaining
Obligations, and the remaining provisions of the Loan Documents shall remain operative and in full
force and effect and shall in no way be affected, prejudiced or disturbed thereby.

Section 9.10 Notices.

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

Section 9.11 Joint and Several Liability.

If Grantor consists of two (2) or more Persons, the term “Grantor” shall also refer to all
Persons signing this Deed of Trust as Grantor, and to each of them, and all of them are jointly and
severally bound, obligated and liable hereunder. Beneficiary may release, compromise, modify or
settle with any of Grantor, in whole or in part, without impairing, lessening or affecting the
obligations and liabilities of the others of Grantor hereunder or under the Note. Any of the acts
mentioned aforesaid may be done without the approval or consent of, or notice to, any of Grantor or
any Borrower.

Section 9.12 Rules of Construction.

The words “hereof”, “herein”, “hereunder”, “hereto” and other words of similar import refer to
this Deed of Trust in its entirety. The terms “agree” and “agreements” mean and include “covenant”
and “covenants”. The words “include” and “including” shall be interpreted as if followed by the
words “without limitation”. The headings of this Deed of Trust are for convenience of reference
only and shall not be considered a part hereof and are not in any way intended to define, limit or
enlarge the terms hereof. All references (a) made in the neuter, masculine or feminine gender
shall be deemed to have been made in all such genders, (b) made in the singular or plural number
shall be deemed to have been made, respectively, in the plural or singular number as well, (c) to
the Loan Documents are to the same as extended, amended, restated, supplemented or otherwise
modified from time to time unless expressly indicated otherwise, (d) to the Land, Improvements,
Personalty, Real Property or Property shall mean all or any portion of each of the foregoing,
respectively, and (e) to Articles or Sections are to the respective Articles or Sections contained
in this Deed of Trust unless expressly indicated otherwise. Any term used or defined in the
Uniform Commercial Code of the State, as in effect from time to time, which is not defined in this
Deed of Trust shall have the meaning ascribed to that term in the Uniform Commercial Code of the
State. If a term is defined in Article 9 of the Uniform Commercial Code of the State differently
than in another Article of the Uniform Commercial Code of the State, the term shall have the
meaning specified in Article 9.

	 	 	Section 9.13 Governing Law; Litigation.

THIS DEED OF TRUST SHALL BE GOVERNED BY THE LAWS OF THE STATE OF ILLINOIS (WITHOUT GIVING
EFFECT TO ILLINOIS CHOICE OF LAW PRINCIPLES), EXCEPT WITH RESPECT TO THE ENFORCEMENT HEREOF AGAINST
THE PROPERTY IN THE STATE OF COLORADO, WHICH ENFORCEMENT SHALL BE GOVERNED BY THE LAWS OF THE STATE
OF COLORADO (WITHOUT GIVING EFFECT TO COLORADO CHOICE OF LAW PRINCIPLES). TO THE EXTENT THAT THIS
DEED OF TRUST MAY OPERATE AS A SECURITY AGREEMENT UNDER THE UNIFORM COMMERCIAL CODE OF THE STATE OF
COLORADO, BENEFICIARY SHALL HAVE ALL RIGHTS AND REMEDIES CONFERRED THEREIN FOR THE BENEFIT OF A
SECURED PARTY, AS SUCH TERM IS DEFINED THEREIN, THE ENFORCEMENT OF WHICH SHALL BE GOVERNED BY THE
LAWS OF THE STATE OF COLORADO (WITHOUT GIVING EFFECT TO COLORADO CHOICE OF LAW PRINCIPLES).

TO THE MAXIMUM EXTENT PERMITTED BY LAW, GRANTOR HEREBY AGREES THAT ALL ACTIONS OR PROCEEDINGS
ARISING IN CONNECTION WITH THIS DEED OF TRUST SHALL BE TRIED AND DETERMINED ONLY IN THE STATE AND
FEDERAL COURT LOCATED IN THE COUNTY OF COOK, STATE OF ILLINOIS OR, AT THE SOLE OPTION OF
BENEFICIARY, IN ANY OTHER COURT IN WHICH BENEFICIARY SHALL INITIATE LEGAL OR EQUITABLE PROCEEDINGS
AND WHICH HAS SUBJECT MATTER JURISDICTION OVER THE MATTER IN CONTROVERSY, EXCEPT THAT ANY ACTION TO
FORECLOSE THIS DEED OF TRUST, TO OBTAIN POSSESSION OF THE PROPERTY, TO HAVE A RECEIVER APPOINTED
FOR THE PROPERTY OR TO ENFORCE ANY OTHER REMEDY HEREIN AFFECTING THE PROPERTY, INCLUDING, BUT NOT
LIMITED TO, INJUNCTIVE RELIEF, SHALL BE BROUGHT ONLY IN THE COUNTY OF ADAMS, STATE OF COLORADO. TO
THE MAXIMUM EXTENT PERMITTED BY LAW, GRANTOR HEREBY EXPRESSLY WAIVES ANY RIGHT IT MAY HAVE TO
ASSERT THE DOCTRINE OF FORUM NON CONVENIENS OR TO OBJECT TO VENUE TO THE EXTENT ANY
PROCEEDING IS BROUGHT IN ACCORDANCE WITH THIS SECTION. TO THE MAXIMUM EXTENT PERMITTED BY LAW,
GRANTOR HEREBY WAIVES PERSONAL SERVICE OF PROCESS UPON GRANTOR, AND AGREES THAT ALL SUCH SERVICE OF
PROCESS MAY BE MADE BY REGISTERED MAIL DIRECTED TO GRANTOR AT THE ADDRESS STATED IN THIS DEED OF
TRUST AND SERVICE SO MADE WILL BE DEEMED TO BE COMPLETED UPON ACTUAL RECEIPT.

Section 9.14 Use of Proceeds.

Grantor represents and warrants to Beneficiary (a) that the proceeds of the Note secured by
this Deed of Trust will be used for the purposes specified in the Loan Documents, and that the
Obligations constitute a business loan, and (b) that the Loan evidenced by the Note is an exempted
transaction under the Truth In Lending Act, 15 U.S.C. §1601 et seq.

Section 9.15 Cross-Default.

This Deed of Trust shall be cross-defaulted with all “Mortgages” (as such term is
defined in the Credit Agreement) delivered during the term of the Loan, whether existing as of the
date of this Deed of Trust or subsequently made. A default not cured within any applicable grace
or cure period under any of the other Mortgage shall constitute an Event of Default under this Deed
of Trust. An Event of Default under this Deed of Trust shall constitute an Event of Default under
all of the other Mortgages. To the extent not prohibited by applicable law, if Beneficiary, at its
option, avails itself of this cross-default provision, Beneficiary shall have the option to pursue
its remedies in any combinations and against any or all of Beneficiary’s security for the Loan,
whether successively, concurrently or otherwise. Grantor acknowledges that Beneficiary is
unwilling to make the Loan unless Grantor agrees that this Deed of Trust and the other Mortgages
are cross-defaulted and therefore, since it is in the best interest of Grantor that Beneficiary
make the Loan, Grantor has agreed to cross-default this Deed of Trust and the other Mortgages as
set forth hereinabove.

Section 9.16 Other Amounts Secured; Maximum Indebtedness.

Grantor acknowledges and agrees that this Deed of Trust secures the entire principal amount of
the Note and interest accrued thereon, regardless of whether any or all of the Loan proceeds are
disbursed on or after the date hereof, and regardless of whether the outstanding principal is
repaid in whole or part or are future advances made at a later date, any and all litigation and
other expenses and any other amounts as provided herein or in any of the other Loan Documents,
including, without limitation, the payment of any and all loan commissions, service charges,
liquidated damages, expenses and advances due to or paid or incurred by Beneficiary in connection
with the Loan, all in accordance with the Loan commitment issued in connection with this
transaction and the Loan Documents. Solely for purposes of applying C.R.S. §38-39-106, this Deed
of Trust secures future advances up to the total maximum principal amount of Ten Million Two
Hundred Thousand and No/100 Dollars ($10,200,000.00). It is agreed that any future advances made
by Beneficiary for the benefit of Grantor from time to time under this Deed of Trust or the other
Loan Documents and whether or not such advances are obligatory or are made at the option of
Beneficiary, made at any time from and after the date of this Deed of Trust, and all interest
accruing thereon, shall be equally secured by this Deed of Trust and shall have the same priority
as all amounts, if any, advanced as of the date hereof and shall be subject to all of the terms and
provisions of this Deed of Trust. This Deed of Trust shall be valid and have priority to the
extent of the full amount of the indebtedness secured hereby over all subsequent liens and
encumbrances, including statutory liens, excepting solely taxes and assessments levied on the
Property given priority by law.

Section 9.17 Adjustable Rate Loan Provision.

The Note which this Deed of Trust secures is an adjustable note on which the interest rate may
be adjusted from time to time in accordance with the terms and provisions set forth in the Credit
Agreement.

Section 9.18 Future Advances.

This Deed of Trust secures future advances made under the Note provided that the total maximum
principal amount outstanding at any one time shall not exceed Ten Million Two Hundred Thousand and
No/100 Dollars ($10,200,000.00) (the “Maximum Principal Amount”) and further secures any
other advances permitted pursuant to C.R.S. 38-039-106, as amended. Should the Obligations
decrease or increase pursuant to the terms of the Note, the Credit Agreement or otherwise, at any
time or from time to time, to the extent the total unpaid principal amount does not exceed the
Maximum Principal Amount, this Deed of Trust shall retain its priority position of record as to the
full extent of the Obligations until (i) the termination of the Credit Agreement, (ii) the full,
final and complete payment of all the Obligations, and (iii) the full release and termination of
the liens and security interests created by this Deed of Trust. The foregoing provisions do not in
any way imply that Beneficiary is obligated to make any future advances to Grantor at any time
unless specifically provided in the Credit Agreement or any of the other Loan Documents.

Section 9.19 Deed in Trust.

If title to the Property or any part thereof is now or hereafter becomes vested in a trustee,
any prohibition or restriction contained herein against the creation of any lien on the Property
shall be construed as a similar prohibition or restriction against the creation of any lien on or
security interest in the beneficial interest of such trust.

Section 9.20 Collateral Protection.

Unless Grantor provides Beneficiary with evidence of the insurance required by this Deed of
Trust or any other Loan Document, Beneficiary may purchase insurance at Grantor’s expense to
protect Beneficiary’s interest in the Property or any other collateral for the Obligations. This
insurance may, but need not, protect Grantor’s interests. The coverage Beneficiary purchases may
not pay any claim that Grantor makes or any claim that is made against Grantor in connection with
the Property or any other collateral for the Obligations. Grantor may later cancel any insurance
purchased by Beneficiary, but only after providing Beneficiary with evidence that Grantor has
obtained insurance as required under this Deed of Trust or any other Loan Document. If Beneficiary
purchases insurance for the Property or any other collateral for the Obligations, Grantor shall be
responsible for the costs of that insurance, including interest in any other charges that
Beneficiary may lawfully impose in connection with the placement of the insurance, until the
effective date of the cancellation or expiration of the insurance. The costs of the insurance may
be added to the Obligations. The costs of the insurance may be more than the cost of insurance
that Grantor may be able to obtain on its own.

Section 9.21 WAIVER OF JURY TRIAL.

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

Section 9.22 Rights of Tenants.

Beneficiary shall have the right and option to commence a civil action to foreclose this Deed
of Trust and to obtain a decree of foreclosure and sale subject to the rights of any tenant or
tenants of the Property having an interest in the Property prior to that of Beneficiary. The
failure to join any such tenant or tenants of the Property as party defendant or defendants in any
such civil action or the failure of any decree of foreclosure and sale to foreclose their rights
shall not be asserted by Grantor as a defense in any civil action instituted to collect the
Obligations, or any part thereof or any deficiency remaining unpaid after foreclosure and sale of
the Property, any statue or rule of law at any time existing to the contrary notwithstanding.

Section 9.23 Trust.

In accordance with the Declaration of Trust of the Trust, all persons dealing with the Trust
shall look to the assets of the Trust for the enforcement of any claim against the Trust, and
neither the trustees, officers, employees, partners nor shareholders of the Trust assume any
personal liability for obligations entered into by or on behalf of the Trust (except to the extent
that they are a guarantor or borrower under this Loan).

Section 9.24 Entire Agreement.

The Loan Documents constitute the entire understanding and agreement among Grantor,
Beneficiary and Lenders with respect to the transactions arising in connection with the Loan, and
supersede all prior written or oral understandings and agreements between Grantor, Beneficiary and
Lenders with respect to the matters addressed in the Loan Documents. In particular, and without
limitation, the terms of any commitment by Beneficiary and Lenders to make the Loan are merged into
the Loan Documents. Except as incorporated in writing into the Loan Documents, there are no
representations, understandings, stipulations, agreements or promises, oral or written, with
respect to the matters addressed in the Loan Documents.

Section 9.25 Ground Lessor’s Fee Interest.

Ground Lessor’s fee interest in the Real Property (a) is not encumbered by this Deed of Trust,
and (b) does not otherwise secure any indebtedness of Grantor to Beneficiary or Lenders.

[SIGNATURE PAGE FOLLOWS]

IN WITNESS WHEREOF, Grantor has caused this Deed of Trust to be executed as of the day
and year first written above.

GRANTOR:

G&E HC REIT II ST. ANTHONY

NORTH DENVER MOB, LLC,

a Delaware limited liability company

By: GRUBB & ELLIS HEALTHCARE REIT II

HOLDINGS, LP, a Delaware limited partnership,

its sole Member

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

a Maryland corporation, its general partner

By: /s/ Shannon K S Johnson

Name: Shannon K S Johnson

Title: Chief Financial Officer

	 	 	 
	State of California

County of Orange

	 	)

) ss.

)

On August 10, 2011 before me, Rex Morishita, Notary Public, personally appeared Shannon K S
Johnson, who proved to me on the basis of satisfactory evidence to be the person whose name is
subscribed to the within instrument and acknowledged to me that she executed the same in her
authorized capacity, and that by her/their signature on the instrument the person, or the entity
upon behalf of which the person acted, executed the instrument.

I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing
paragraph is true and correct.

WITNESS my hand and official seal.

Signature: /s/ Rex Morishita

Rex Morishita

2

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