Document:

EX-4.2

 Exhibit 4.2 
 FIRST AMENDMENT TO SECOND AMENDED AND RESTATED 
 SECURED TERM
LOAN AGREEMENT 
 This FIRST AMENDMENT TO SECOND AMENDED AND RESTATED SECURED TERM LOAN
AGREEMENT (the “Amendment”) is made as of this 17th day of January, 2013 (the “Effective Date”), by and among DDR Corp. (f/k/a Developers Diversified Realty Corporation), a corporation organized under the laws of the State of Ohio
(“DDR”), DDR PR Ventures, LLC, S.E., a Delaware limited liability company (“DDR PR”; DDR and DDR PR together with any Qualified Borrower that issues a Qualified Borrower Note in accordance with the terms of the Loan Agreement (as
hereinafter defined), collectively, the “Borrower”), KeyBank National Association, and the other several banks, financial institutions and other entities from time to time parties to the Loan Agreement described below, including, one or
more new or existing “Lenders” shown on the signature pages hereof (the “Lenders”), and KeyBank National Association, not individually, but as “Administrative Agent”, RBC Capital Markets, not individually, but as
“Syndication Agent”, and U.S. Bank National Association, The Bank of Nova Scotia and RBS Citizens, N.A., not individually, but as “Documentation Agents”. 
 R E C I T A L S 

A. Borrower, Administrative Agent, J.P. Morgan Securities LLC, as syndication agent, ING Real Estate Finance (USA) LLC, Scotiabanc, Inc.
and RBS Citizens, N.A. as documentation agents, and certain Lenders entered into that certain Second Amended and Restated Secured Term Loan Agreement dated as of June 28, 2011 (the “Existing Loan Agreement”; the Existing Loan
Agreement, as modified and amended by this Amendment, the “Loan Agreement”). All capitalized terms used in this Amendment and not otherwise defined herein shall have the meanings ascribed to such terms in the Loan Agreement. 

B. The Borrower, the Administrative Agent and the Lenders desire to amend the Existing Loan Agreement in order to, among other things
(i) decrease the Aggregate Commitment from $500,000,000.00 to $400,000,000.00; (ii) admit Capital One, N.A. (“New Lender”) as a “Lender” under the Loan Agreement; (iii) decrease the Capitalization Rate (as
hereinafter defined) from 7.5% to 7.25%; and (iv) amend the provisions of the financial covenants and certain other provisions of the Existing Loan Agreement. 
 C. Borrower has requested changes to certain terms in the Existing Loan Agreement as set forth herein and the Lenders have agreed to such changes. 

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

1. The foregoing Recitals to this Amendment are incorporated into and made part of this Amendment. 

2. From and after the Effective Date, (a) the Aggregate Commitment shall equal Four Hundred Million and No/100 Dollars
($400,000,000.00), (b) the New Lender shall be 

 
considered a “Lender” under the Loan Agreement and the other Loan Documents, and (c) the Lenders shall each have a Commitment in the amount shown next to their respective
signatures on the signature pages of this Amendment (such amounts to include any decreases in the Commitments of the existing Lenders). The Borrower shall, on or before the Effective Date, execute and deliver to each of the Lenders a new or amended
and restated Note in the amount of its respective Commitment. In order to facilitate the reduction of the Aggregate Commitment to $400,000,000.00 and the amendment of the Existing Loan Agreement, certain lenders a party to the Existing Loan
Agreement are no longer continuing as Lenders under the Loan Agreement (the “Exiting Lenders”), and New Lender is becoming a party to the Loan Agreement as a Lender. Contemporaneously with the execution of this Amendment, the Exiting
Lenders shall be deemed to have assigned their Commitments under the Existing Loan Agreement to the Lenders under this Amendment, and the Exiting Lenders shall be paid all principal, interest and fees due to them in connection therewith by the
Borrower with respect to the Exiting Lenders’ respective Percentages of the portion of the “Loans” under the Existing Loan Agreement being repaid on the Effective Date, and by the New Lender under the Loan Agreement with respect to
the remaining amount. The Commitments shall be allocated among the Lenders a party to the Loan Agreement in accordance with their respective Percentages. The foregoing is done as an accommodation to the Borrower, the Exiting Lenders and the Lenders,
and shall be deemed to have occurred with the same force and effect as if such assignments were evidenced by the applicable assignment agreements, and no other documents shall be, or shall be required to be, executed in connection therewith. By
delivery of this Amendment and the new or amended and restated Notes in connection therewith, (a) there shall not be deemed to have occurred, and there has not otherwise occurred, any payment, satisfaction or novation of the Indebtedness
evidenced by the Existing Loan Agreement and the “Notes” described in the Existing Loan Agreement, which Indebtedness is instead allocated among the Lenders as of the date hereof in accordance with their respective Percentages, and is
evidenced by the Loan Agreement and such new or amended and restated Notes, and the Lenders shall as of the date hereof make such adjustments to the outstanding Loans of such Lenders so that such outstanding Loans are consistent with their
respective Percentages of the Aggregate Commitment, (b) there shall not be deemed to have occurred any release, satisfaction or cancellation of any liens granted pursuant to the Security Documents, which liens are hereby ratified and confirmed
in all respects, and (c) there shall not be any impairment or effect on the validity or priority of the liens of the Security Documents. 
 3. The following definitions in Section 1.1 of the Existing Loan Agreement are hereby amended and restated to read as follows: 

“Aggregate Commitment” means, as of any date, the aggregate of the then-current Commitments of all the Lenders, which is, as of
January 17, 2013, $400,000,000. 
 “Capitalization Rate” means 7.25%. 

“Implied Debt Service” means, as of any date of determination, the annual Debt Service of the Borrower and the Subject Property
Owners that would be payable on a loan having an outstanding principal balance equal to the sum of (a) the Loans (less the amount of cash on deposit in the Cash Collateral Account, if any), and (b) the Subject Property Indebtedness
(excluding any Subject Property Indebtedness for any Excluded Subject Property), minus Restricted Cash Collateral with respect to Subject Property Indebtedness in an amount not to 

  
 2 

 
exceed $25,000,000 (excluding all Restricted Cash Collateral with respect to any Excluded Subject Property), payable on a thirty (30) year mortgage style amortization schedule and assuming
an interest rate equal to the greater of (i) the then current yield on ten (10) year obligations issued by the United States Treasury most recently prior to the date of determination plus two percent (2.00%) and (ii) seven
percent (7.00%). The Implied Debt Service shall be determined by Administrative Agent and any such determination, so long as the same shall be made by Administrative Agent in exercise of its good faith business judgment, shall be conclusive and
binding absent manifest error. 
 “Joint Lead Arrangers” means KeyBanc Capital Markets and RBC Capital Markets.

 “Maturity Date” means April 3, 2017, or if the Maturity Date has been extended pursuant to
Section 2.2, such extended Maturity Date, or such earlier date on which the Loans shall become due and payable pursuant to the terms hereof. 
 4. Section 2.1 of the Existing Loan Agreement is hereby amended by deleting Section 2.1(c) in its entirety and by inserting in lieu thereof the following new Section 2.1(c):

 (c) Increase of Commitments. The Borrower may, by written notice to the Administrative Agent on up to
four (4) occasions during the period from the Agreement Execution Date to January 17, 2016, request incremental Commitments in an amount not to exceed the aggregate amount of $100,000,000.00 from one or more additional Lenders (which may
include any existing Lender) willing to provide such incremental Commitments in their own discretion. The Administrative Agent and/or its Affiliates shall use commercially reasonable efforts, with the assistance of the Borrower, to arrange a
syndicate of Lenders willing to hold the requested incremental Commitments. If Lenders are willing to provide such additional Commitments, the Aggregate Commitment may be increased from time to time by the addition of a new Lender(s) or the increase
of the Commitment of an existing Lender(s) with the consent of only the Borrower, the Administrative Agent, and the new or existing Lender(s) providing such additional Commitment so long as the Aggregate Commitment does not exceed $500,000,000.
Nothing in this Section 2.1(c) shall constitute or be deemed to constitute an agreement by any Lender to increase its Commitment hereunder. Any such increase in the Aggregate Commitment shall be conditioned upon the contemporaneous
addition of Potential Properties as Subject Properties in accordance with Section 2A.2 to effect compliance with all financial covenants set forth in Section 6.18 immediately following the increase of the Aggregate Commitment
and upon satisfaction of the requirements for additional Borrowings pursuant to Section 2.9. Such increases shall be evidenced by the execution and delivery of an Amendment Regarding Increase in the form of Exhibit K attached
hereto by the Borrower, the Administrative Agent and the new Lender or existing Lender providing such additional Commitment (the “Increase Notice”), a copy of which shall be forwarded to each Lender by the Administrative Agent promptly
after execution thereof. The amount of the requested increase shall be set forth in the Increase Notice. Notwithstanding the foregoing, (i) no increase in the Aggregate Commitment may occur after January 17, 2016, and (ii) each such
increase shall not be less than $25,000,000. On the effective date of each such increase in the Aggregate Commitment, the Borrower and the Administrative Agent shall cause the new or existing Lenders

  
 3 

 
providing such increase to hold its or their Percentage of all ratable Borrowings outstanding at the close of business on such day, by either funding more than its or their Percentage of new
ratable Borrowings made on such date or purchasing shares of outstanding ratable Loans held by the other Lenders or a combination thereof. The Lenders agree to cooperate in any required sale and purchase of outstanding ratable Borrowings to achieve
such result. Borrower agrees to pay all fees associated with the increase in the Aggregate Commitment including any amounts due under Section 3.4 in connection with any reallocation of Fixed Rate Borrowings. 

5. Section 2.2 of the Existing Loan Agreement is hereby deleted in its entirety and replaced with the following new
Section 2.2: 
 2.2 Final Principal Payment and Extension of Maturity Date. Any outstanding
Borrowings and all other unpaid Obligations shall be paid in full by the Borrower on the Maturity Date. Borrower shall have the option to extend the term of the Loan beyond the initial Maturity Date for two terms (each an “Extension
Option”) of six (6) months each, by submitting a request for an extension to the Administrative Agent (an “Extension Request”) no more than 90 and no fewer than 30 days prior to the then effective Maturity Date, and upon payment
to Administrative Agent of all reasonable costs incurred by Administrative Agent in connection with such extension, whether the extension actually occurs or not. Promptly upon receipt of an Extension Request, the Administrative Agent shall notify
each Lender of the Extension Request. It shall be an additional condition precedent to each extension of the Maturity Date pursuant hereto that (a) there shall exist no Default or Unmatured Default on both the date the Borrower delivers the
Extension Request to the Administrative Agent and on the applicable scheduled Maturity Date, (b) the Borrower shall have paid to the Administrative Agent for the ratable benefit of the Lenders, on or before the then effective Maturity Date, a
fee equal to 0.05% of the Aggregate Commitment, and (c) the Borrower shall have executed and delivered to Administrative Agent a Compliance Certificate demonstrating compliance with all covenants set forth in Section 6.18 and the
accuracy of all representations and warranties set forth in the Loan Documents after giving effect to such extension. 
 6.
Section 2.4 of the Existing Loan Agreement is hereby amended by deleting the table in the first paragraph of such Section in its entirety and by inserting in lieu thereof the following new table: 

 

											
	 S&P Rating
	  	Moody’s Rating	  	LIBOR
Applicable
Margin	 	 	ABR
Applicable
Margin	 
	 BBB+ or higher
	  	Baa1 or higher	  	 	1.20	% 	 	 	0.20	% 
	 BBB
	  	Baa2	  	 	1.35	% 	 	 	0.35	% 
	 BBB-
	  	Baa3	  	 	1.55	% 	 	 	0.55	% 
	 Less than BBB-
	  	Less than Baa3	  	 	1.90	% 	 	 	0.90	% 

  
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 7. Section 6.18 of the Existing Loan Agreement is hereby amended by deleting
Sections 6.18(vii), 6.18(viii), 6.18(x), 6.18(xi) and 6.18(xii) thereof in their entirety and by inserting in lieu thereof the following new Sections 6.18(vii), 6.18(viii), 6.18(x), 6.18(xi) and 6.18(xii): 

(vii) [Intentionally Omitted]; 
 (viii) the aggregate principal amount of Recourse Indebtedness that is secured by a Lien on partnership or other equity interests or by any other Lien which is not a mortgage Lien on real property shall
not exceed $500,000,000 (which amount shall include the outstanding Indebtedness under the Loan Documents); 

(x) the Value of Subject Properties consisting of Pledged Distributions Properties to be no more than sixty percent
(60%) of the aggregate Value of Subject Properties for all Subject Properties; 
 (xi) the Value of Subject
Properties consisting of Pledged Distributions Properties and Pledged Equity Properties to be less than eighty percent (80%) of the aggregate Value of Subject Properties for all Subject Properties; 

(xii) the sum of (a) the outstanding principal balance of the Loans (less the amount of cash on deposit in the Cash
Collateral Account, if any) plus (b) the sum of the Subject Property Indebtedness, minus Restricted Cash Collateral with respect to Subject Property Indebtedness in an amount not to exceed $25,000,000 (excluding all Restricted Cash Collateral
with respect to any Excluded Subject Property), to be more than sixty-seven percent (67%) of the then Value of Subject Properties; 
 8. Section 6.18 of the Existing Loan Agreement is hereby further amended by deleting the second paragraph after Section 6.18(xiv) thereof in its entirety and by inserting in lieu thereof
the following new paragraph: 
 For purposes of calculating compliance with the covenants set forth in Sections
6.18(x), (xi) and (xii) above, DDR shall be permitted to exclude (a) the portion of the Value of Subject Properties consisting of Pledged Distributions Properties in excess of 60% of the aggregate Value of Subject Properties for all
Subject Properties including Pledged Distributions Properties, and (b) the portion of the Value of the Subject Properties consisting of Negative Pledge Properties in excess of 20% over the aggregate Value of Subject Properties including
Negative Pledge Properties (such excluded amount being referred to as the “Excluded Portion”), provided, however, that the Excluded Portion shall also be excluded from the Value of Subject Properties for purposes of the covenant set forth
in Section 6.18(xii) and DDR shall be required to remain in compliance with Section 6.18(xii) after giving effect to the exclusion of the Excluded Portion described in this paragraph. For example, if the aggregate Value of Subject
Properties is $1,000,000,000; of which $125,000,000 (12.5%) consists of Pledged Equity Properties; $650,000,000 (65%) consists of Pledged Distributions Properties; and $225,000,000 (22.5%) consists of Negative Pledge Properties,
Borrower could 

  
 5 

 
exclude $50,000,000 of Pledged Distributions Properties from the aggregate Value of Subject Properties and $25,000,000 of Negative Pledge Properties from the aggregate Value of Subject Properties
resulting in an adjusted aggregate Value of Subject Properties of $925,000,000, provided that DDR remains in compliance with the covenant set forth in Section 6.18(xii) based on such $925,000,000. 

9. Section 8.2 of the Existing Loan Agreement is hereby amended by deleting the amount “$600,000,000” from
Section 8.2(iv) thereof and by inserting in lieu thereof the amount “$500,000,000”. 
 10. Exhibits “F”
and “K” to the Existing Loan Agreement are hereby amended by deleting therefrom the references to the amounts “$500,000,000.00” and “$600,000,000.00”, and by inserting in lieu thereof the amounts
“$400,000,000.00” and “$500,000,000.00” respectively. 
 11. Borrower, Administrative Agent and the Lenders
hereby acknowledge and agree that the Compliance Certificate (and the calculations of the financial covenants set forth in such Compliance Certificate) of Borrower and its Subsidiaries required to be delivered to the Administrative Agent and the
Lenders at the closing of this Amendment referred to in Section 15 hereof (the “Proforma Compliance Certificate”) and for the fiscal quarter and year ended December 31, 2012, shall be based on the terms and provisions of the
Existing Loan Agreement, as modified and amended by this Amendment (including, without limitation, the reduction of the Aggregate Commitment to $400,000,000.00), notwithstanding the fact that the effective date of such modified financial covenants
and such reduction in Aggregate Commitment occurs after the date of such reporting period. 
 12. Borrower hereby represents and
warrants that: 
 (a) no Default or Unmatured Default exists; 

(b) the Loan Documents are in full force and effect and Borrower has no defenses or offsets to, or claims or counterclaims relating to,
its obligations under the Loan Documents; 
 (c) there has been no material adverse change in the financial condition of
Borrower and its Subsidiaries from that shown in its September 30, 2012 financial statements; 
 (d) Borrower has full
corporate power and authority to execute, and has duly authorized the execution of, this Amendment and no consents are required for such execution other than any consents which have already been obtained; and 

(e) all representations and warranties contained in Article V of the Loan Agreement and in the other Loan Documents are true and correct
in all material respects as of the date hereof; provided that any representation or warranty that is qualified as to “materiality”, Material Adverse Effect or similar language is true and correct in all respects as of the date hereof and
any such representations or warranties that relate to an earlier specified date are true and correct on and as of such date. 

  
 6 

 13. Except as specifically modified hereby, the Loan Agreement is and remains unmodified and
in full force and effect and the obligations of Borrower, Lenders and Administrative Agent under the Loan Agreement are hereby ratified and confirmed. All references in the Loan Documents to the Existing Loan Agreement henceforth shall be deemed to
refer to the Existing Loan Agreement as amended by this Amendment. 
 14. This Amendment may be executed in any number of
counterparts, all of which taken together shall constitute one agreement, and any of the parties hereto may execute this Amendment by signing any such counterpart. This Amendment shall be construed and enforced in accordance with the laws of the
State of Ohio (excluding the laws applicable to conflicts or choice of law). This Amendment shall be binding upon and shall inure to the benefit of the parties hereto and their respective permitted successors, successors-in-title and assigns as
provided in the Loan Agreement. 
 15. This Amendment shall become effective when (i) this Amendment has been executed by
Borrower, Administrative Agent and all of the Lenders, (ii) the Administrative Agent has received and approved the Proforma Compliance Certificate for the period ended September 30, 2012 (but subject to the provisions of Section 11
hereof and subject to other customary and reasonable adjustments to reflect transactions that occurred between September 30, 2012 and the date of this Amendment), and (iii) the Administrative Agent has received and approved a fully
executed and effective amendment to the Unsecured Credit Agreement which reflects modifications thereto that conform to the modifications being made pursuant to this Amendment, as applicable. 

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 IN WITNESS WHEREOF, the parties have executed and delivered this Amendment as of the date
first above written. 
  

			
	BORROWER:
	
	 DDR CORP. (f/k/a Developers Diversified
 Realty Corporation), an Ohio corporation

		
	By:	 	/s/ David E. Weiss
	Print Name: David E. Weiss
	 Title: Executive Vice President, General Counsel
 and Secretary

	
	 3300 Enterprise Parkway
 Beachwood, Ohio 44122
 Phone: 216/755-6453
 Facsimile: 216/755-3453
 Attention: Chief Financial Officer

	
	with a copy to:
	
	 3300 Enterprise Parkway
 Beachwood, Ohio 44122
 Phone: 216/755-5650
 Facsimile: 216/755-1560
 Attention: General Counsel

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 [SIGNATURE
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 SECOND AMENDED AND RESTATED SECURED TERM LOAN AGREEMENT] 

 
			
	 DDR PR VENTURES, LLC, S.E., a Delaware
 limited liability company

		
	By:	 	/s/ David E. Weiss
	Print Name: David E. Weiss
	 Title: Executive Vice President, General Counsel
 and Secretary

	
	 3300 Enterprise Parkway
 Beachwood, Ohio 44122
 Phone: 216/755-6453
 Facsimile: 216/755-3453
 Attention: Chief Financial Officer

	
	with a copy to:
	
	 3300 Enterprise Parkway
 Beachwood, Ohio 44122
 Phone: 216/755-5650
 Facsimile: 216/755-1560
 Attention: General Counsel

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 [SIGNATURE
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		 		 		 	LENDERS:
				
	 $40,000,000
	 		 		 	KEYBANK NATIONAL ASSOCIATION,
		 		 		 	Individually and as Administrative Agent
				
		 		 		 	By: /s/ Jonathan
Slusher                                        
                                
		 		 		 	Print Name: Jonathan Slusher
		 		 		 	Title: Assistant Vice President
				
		 		 		 	127 Public Square
		 		 		 	8th Floor
		 		 		 	Cleveland, OH 44114
		 		 		 	Phone: 216/689-7984
		 		 		 	Facsimile: 216/689-5819
		 		 		 	Attention: Jason Weaver
				
		 		 		 	With a copy to:
				
		 		 		 	127 Public Square
		 		 		 	8th Floor
		 		 		 	Cleveland, OH 44114
		 		 		 	Phone: 216/689-4545
		 		 		 	Facsimile: 216/689-4997
		 		 		 	Attention: Dan Heberle

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	 $40,000,000
	 		 	ROYAL BANK OF CANADA
				
		 		 	By:	 	 /s/ David Cole

		 		 	 Print Name: David Cole
 Title: Authorized Signatory
  

Three World Financial Center, 200 Vesey Street

New York, New York 10281-8098
 Phone:
212/428-6404
 Facsimile: 212/428-6460

Attention: David Cole

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	 $35,000,000
	 		 	U.S. BANK NATIONAL ASSOCIATION
				
		 		 	 By:
	 	 /s/ Curt M. Steiner

		 		 	 Name: Curt M. Steiner
 Title: Senior Vice President
  

209 S. LaSalle St., Suite 210
 Chicago, IL
60604
 Telephone: 312/325-8756

Facsimile: 312/325-8852
 Attention: Curt M.
Steiner

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	 $30,000,000
	 		 	RBS CITIZENS, N.A., Individually and as
Documentation Agent
				
		 		 	 By:
	 	 /s/ Samuel A. Bluso

		 		 	 Name: Samuel A. Bluso
 Title: Senior Vice President
  

1215 Superior Avenue, OHS675
 Cleveland, Ohio
44114
 Telephone: 216-277-0051

Facsimile: 216-277-4600
 Attention: Ellen
Pallota

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	 $30,000,000
	 		 	THE BANK OF NOVA SCOTIA,
		 		 	Individually and as Documentation Agent
				
		 		 	 By:
	 	 /s/ George Sherman

		 		 	 Print Name: George Sherman
 Title: Director
  
 The Bank of
Nova Scotia
 40 King Street West – 25th Floor

Toronto, ON M5H 1h1
 Phone:
416-350-1174
 Facsimile: 416-350-1161

Attention: George Sherman, Director

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	 $25,000,000
	 		 	JPMORGAN CHASE BANK, N.A.
				
		 		 	 By:
	 	 /s/ Kimberly L. Turner

		 		 	 Name: Kimberly L. Turner
 Title: Executive Director
  

383 Madison Avenue, Floor 24
 New York, New York
10179
 Phone: 212/622-8177
 Facsimile:
646/534-0574
 Attention: Kimberly L. Turner

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	 $25,000,000
	 		 	THE BANK OF NEW YORK MELLON (formerly
known as The Bank of New York)
				
		 		 	 By:
	 	 /s/ Helga Blum

		 		 	 Print Name: Helga Blum
 Title: Managing Director
  
 One
Wall Street

21st Floor
 New York, New York 10286
 Telephone: 212/635-1066
 Facsimile: 212/809-9520

Attention: Kenneth McDonnell

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	 $20,000,000
	 		 	PNC BANK, NATIONAL ASSOCIATION, Individually
				
		 		 	 By:
	 	 /s/ John E. Wilgus, II

		 		 	 Print Name: John E. Wilgus, II
 Title: Senior Vice President
  

1900 E. Ninth Street,
22nd Floor

Cleveland, Ohio 44114
 Phone:
216/222-6032
 Facsimile: 216/222-6070

Attention: John E. Wilgus, II

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	 $20,000,000
	 		 	REGIONS BANK
				
		 		 	 By:
	 	 /s/ Rob MacGregor

		 		 	 Name: Rob MacGregor

Title: Senior Vice President
  
 6805 Morrison Blvd., Ste. 100
 Charlotte, NC 28211

Telephone: 704/442-4723
 Facsimile:
704/442-4790
 Attention: Rob MacGregor

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	 $20,000,000
	 		 	SUMITOMO MITSUI BANKING CORPORATION
				
		 		 	 By:
	 	 /s/ William G. Karl

		 		 	 Print Name: William G. Karl
 Title: General Manager
  
 277
Park Avenue
 New York, NY 10172
 Phone:
212/224-4058
 Facsimile: 212/224-4887

Attention: Mr. Justin Kim

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	 $20,000,000
	 		 	THE HUNTINGTON NATIONAL BANK
				
		 		 	 By:
	 	 /s/ Arthur DePompei

		 		 	 Name: Arthur DePompei
 Title: Vice-President
  
 200
Public Square CM17
 Cleveland, Ohio 44114
 Telephone: 216/515-6305
 Facsimile: 877/834-3517

Attention: Arthur DePompei

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	 $15,000,000
	 		 	CAPITAL ONE, N.A.,
				
		 		 	 By:
	 	 /s/ Marlene Schwartz

		 		 	 Print Name: Marlene Schwartz
 Title: Senior Vice President
  

1680 Capital One Drive
 McLean, VA
22102
 Phone: 703-720-6756
 Facsimile:
703-720-2023
 Attention: Ashish Tandon

                  Vice President

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	 $15,000,000
	 		 	GOLDMAN SACHS BANK USA
				
		 		 	 By:
	 	 /s/ Mark Walton

		 		 	 Print Name: Mark Walton
 Title: Authorized Signatory
  

c/o Goldman Sachs & Co.
 30 Hudson Street,
38th Floor

Jersey City, New Jersey 07302
 Phone:
212/934-3921
 Facsimile: 917/977-3966

Attention: Michelle Latzoni

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	 $15,000,000
	 		 	UBS LOAN FINANCE LLC
				
		 		 	 By:
	 	 /s/ Joselin Fernandes

		 		 	 Print Name: Joselin Fernandes
 Title: Associate Director

				
		 		 	 By:
	 	 /s/ Lana Gifas

		 		 	 Print Name: Lana Gifas
 Title: Director
  
 677
Washington Blvd.
 Stamford, Connecticut 06901
 Telephone: 203-719-4839
 Facsimile: 203-719-3390

Attention: Samantha Mason

 [Signatures Continued on Following Page] 

  
 [SIGNATURE
PAGES TO THE FIRST AMENDMENT TO 
 SECOND AMENDED AND RESTATED SECURED TERM LOAN AGREEMENT] 

							
	 $15,000,000
	 		 	WELLS FARGO BANK, N.A.
				
		 		 	 By:
	 	 /s/ Sam Supple

		 		 	 Name: Sam Supple

Title: Senior Vice-President
  
 Wells Fargo Bank
 123 N. Wacker Drive
 Suite 1900
 Chicago, IL 60606
 Telephone: 212-269-4817
 Facsimile: 312-782-0969

Attention: Sam Supple
  
 With a copy to:
  
 Gail
Duran
 Loan Administrator
 Wells Fargo
Bank
 123 N. Wacker Drive
 Suite
1900
 Chicago, IL 60606
 Phone: (312)
345-1923
 Fax: (312) 782-0969

  
 [SIGNATURE
PAGES TO THE FIRST AMENDMENT TO 
 SECOND AMENDED AND RESTATED SECURED TERM LOAN AGREEMENT] 

							
	$10,000,000	 		 	CITICORP NORTH AMERICA, INC.
				
		 		 	By:	 	/s/ John C. Rowland
		 		 	Print Name: John C. Rowland
		 		 	Title: Director
			
		 		 	 388 Greenwich Street, 23rd Floor
 New
York, New York 10013
 Phone: 212/816-4947
 Facsimile: 866/838-9234
 Attention: John Rowland

 [Signatures Continued on Following Page] 

 

  
 [SIGNATURE
PAGES TO THE FIRST AMENDMENT TO 
 SECOND AMENDED AND RESTATED SECURED TERM LOAN AGREEMENT] 

							
	$10,000,000	 		 	 FIRST TENNESSEE BANK NATIONAL
 ASSOCIATION

				
		 		 	By:	 	/s/ Greg Cullum
		 		 	Name: Greg Cullum
		 		 	Title: Sr. Vice President
			
		 		 	 First Tennessee Bank

701 Market Street
 Chattanooga, Tennessee
37402
 Phone: 423/757-4272
 Facsimile:
423/757-4040
 Attention: Greg Cullum

  
 [SIGNATURE
PAGES TO THE FIRST AMENDMENT TO 
 SECOND AMENDED AND RESTATED SECURED TERM LOAN AGREEMENT] 

							
	 $10,000,000
	 		 		 	THE NORTHERN TRUST COMPANY
				
		 		 		 	By: /s/ Blake J.
Lunt                                         
                               
		 		 		 	Print Name: Blake J. Lunt
		 		 		 	Title: Second Vice President
				
		 		 		 	50 S. LaSalle St., Floor M-27
		 		 		 	Chicago, Illinois 60603
		 		 		 	Phone: 312/557-3194
		 		 		 	Facsimile: 312/557-1425
		 		 		 	Attention: Blake J. Hunt

 [Signatures Continue on Following Page] 

  
 [SIGNATURE
PAGES TO THE FIRST AMENDMENT TO 
 SECOND AMENDED AND RESTATED SECURED TERM LOAN AGREEMENT] 

							
	 $5,000,000
	 		 		 	DEUTSCHE BANK TRUST COMPANY
		 		 		 	AMERICAS, INC.
				
		 		 		 	By: /s/ George R.
Reynolds                                        
                        
		 		 		 	Print Name: George R. Reynolds
		 		 		 	Title: Director
				
		 		 		 	By: /s/ James
Rolison                                        
                            
		 		 		 	Print Name: James Rolison
		 		 		 	Title: Managing Director
				
		 		 		 	200 Crescent Court #550
		 		 		 	Dallas, Texas 75201
		 		 		 	Phone: 214/740-7906
		 		 		 	Facsimile: 214/740-7910
		 		 		 	Attention: Justin Shull

  
 [SIGNATURE
PAGES TO THE FIRST AMENDMENT TO 
 SECOND AMENDED AND RESTATED SECURED TERM LOAN AGREEMENT]Real Estate Purchase Agreement dated December 18, 2012

 Exhibit 10.45 

 
  
  

 
 PURCHASE AND SALE AGREEMENT 

 
 by and among 

 
 CHT SL IV HOLDING, LLC, 

a Delaware limited liability company, 
  

and 
  

HEALTH CARE REIT, INC., 
 a Delaware corporation, 
  
  

 
  
  

December 18, 2012 

 TABLE OF CONTENTS 

 

							
	 Article I. INTERPRETATION
	  	 	2	 
			
	 Section 1.01
	 	 Defined Terms
	  	 	2	 
	 Section 1.02
	 	 Additional Defined Terms
	  	 	5	 
		
	 Article II. AGREEMENT TO SELL AND PURCHASE SELLER’S INTEREST
	  	 	6	 
			
	 Section 2.01
	 	 Sale of Seller’s Interest
	  	 	6	 
	 Section 2.02
	 	 Distribution of Certain Cash
	  	 	6	 
		
	 Article III. TITLE TO SELLER’S INTEREST
	  	 	7	  
			
	 Section 3.01
	 	 Title to Interests
	  	 	7	 
	 Section 3.02
	 	 Satisfaction of Conditions Precedent
	  	 	7	 
		
	 Article IV. REPRESENTATIONS AND WARRANTIES OF PURCHASER
	  	 	7	 
			
	 Section 4.01
	 	 Organization, Good Standing and Entity Authority
	  	 	7	 
	 Section 4.02
	 	 Authorization and Binding Effect of Documents
	  	 	7	 
	 Section 4.03
	 	 Absence of Conflicts
	  	 	7	 
	 Section 4.04
	 	 Consents
	  	 	8	 
	 Section 4.05
	 	 Broker’s or Finder’s Fees
	  	 	8	 
	 Section 4.06
	 	 No Insolvency
	  	 	8	 
		
	 Article V. REPRESENTATIONS AND WARRANTIES OF SELLER
	  	 	8	 
			
	 Section 5.01
	 	 Organization and Good Standing and Entity Authorization
	  	 	8	 
	 Section 5.02
	 	 Authorization and Binding Effect of Documents
	  	 	9	 
	 Section 5.03
	 	 Absence of Conflicts
	  	 	9	 
	 Section 5.04
	 	 Consents
	  	 	9	 
	 Section 5.05
	 	 Broker’s or Finder’s Fees
	  	 	9	 
	 Section 5.06
	 	 ERISA
	  	 	9	 
	 Section 5.07
	 	 No Judgments
	  	 	10	 
	 Section 5.08
	 	 No Insolvency
	  	 	10	 
	 Section 5.09
	 	 FIRPTA
	  	 	10	 
	 Section 5.10
	 	 Specially Designated National or Blocked Person
	  	 	10	 
	 Section 5.11
	 	 Ownership of Seller’s Interest
	  	 	10	 
	 Section 5.12
	 	 Adverse Actions
	  	 	11	 
	 Section 5.13
	 	 No Undisclosed Liabilities
	  	 	11	 
	 Section 5.14
	 	 Taxes
	  	 	11	 
		
	 Article VI. COVENANTS
	  	 	12	 
			
	 Section 6.01
	 	 Publicity
	  	 	12	 
	 Section 6.02
	 	 Commercially Reasonable Efforts
	  	 	12	 
	 Section 6.03
	 	 No Recordation
	  	 	12	 
	 Section 6.04
	 	 Licenses
	  	 	12	 
	 Section 6.05
	 	 Casualty
	  	 	13	 
	 Section 6.06
	 	 Condemnation
	  	 	13	 
	 Section 6.07
	 	 Operation of Business; Insurance
	  	 	13	 
	 Section 6.08
	 	 Exclusivity During Contract Period
	  	 	13	 

  
 i 

							
	 Section 6.09
	 	 Tax Information
	  	 	13	 
	 Section 6.10
	 	 TRS Election
	  	 	13	 
	 Section 6.11
	 	 Restructuring; Modifications
	  	 	13	 
		
	 Article VII. CONDITIONS PRECEDENT TO THE OBLIGATION OF PURCHASER AND SELLER TO CLOSE
	  	 	14	 
			
	 Section 7.01
	 	 Conditions to Each Party’s Obligation to Close
	  	 	14	 
	 Section 7.02
	 	 Conditions to Purchaser’s Obligation to Close
	  	 	14	 
	 Section 7.03
	 	 Conditions to Seller’s Obligation to Close
	  	 	15	 
		
	 Article VIII. CLOSING
	  	 	15	 
			
	 Section 8.01
	 	 Time and Place
	  	 	15	 
	 Section 8.02
	 	 Delivery of Documents at Closing
	  	 	16	 
	 Section 8.03
	 	 Closing Costs
	  	 	17	 
		
	 Article IX. INDEMNITY; DEFAULT; DAMAGES; TERMINATION
	  	 	18	 
			
	 Section 9.01
	 	 Purchaser’s Remedies for Seller’s Defaults
	  	 	18	 
	 Section 9.02
	 	 Seller’s Remedies for Purchaser’s Defaults
	  	 	18	 
	 Section 9.03
	 	 Indemnification by Purchaser
	  	 	18	 
	 Section 9.04
	 	 Indemnification by Seller
	  	 	18	 
	 Section 9.05
	 	 Administration of Indemnification
	  	 	19	 
	 Section 9.06
	 	 Exclusive Remedies
	  	 	20	 
	 Section 9.07
	 	 Termination
	  	 	20	 
	 Section 9.08
	 	 Effect of Failure to Close on Venture Agreement
	  	 	21	 

							
		
	 Article X. MISCELLANEOUS
	  	 	21	 
			
	 Section 10.01
	 	 Further Actions
	  	 	21	 
	 Section 10.02
	 	 Consents under Venture Agreement
	  	 	21	 
	 Section 10.03
	 	 Notices
	  	 	21	 
	 Section 10.04
	 	 Entire Agreement
	  	 	22	 
	 Section 10.05
	 	 Not Construed Against Drafter
	  	 	23	 
	 Section 10.06
	 	 Binding Effect; Benefits
	  	 	23	 
	 Section 10.07
	 	 Assignment
	  	 	23	 
	 Section 10.08
	 	 Governing Law
	  	 	23	 
	 Section 10.09
	 	 Amendments and Waivers
	  	 	23	 
	 Section 10.10
	 	 Severability
	  	 	23	 
	 Section 10.11
	 	 Headings
	  	 	24	 
	 Section 10.12
	 	 Counterparts
	  	 	24	 
	 Section 10.13
	 	 References
	  	 	24	 
	 Section 10.14
	 	 Exhibits
	  	 	24	 
	 Section 10.15
	 	 Attorneys’ Fees
	  	 	24	 
	 Section 10.16
	 	 Waiver of Jury Trial
	  	 	24	 
	 Section 10.17
	 	 Facsimile and PDF Signatures
	  	 	24	 

  
 ii 

 EXHIBITS 
  

	A	Facilities; Facility Owners; Operating Tenants 

  

	B	Form of Assignment and Assumption of Interest Agreement 

  

	C	Purchase Price Calculation 

  

	D	Listing of Lender Releases 

  

	E	Non-Foreign Status Affidavit 

  

	F	Transfer Tax Payment Allocation 

  
 iii

 PURCHASE AND SALE AGREEMENT 

THIS PURCHASE AND SALE AGREEMENT (this “Agreement”) is dated as of the 18th day of December, 2012, by
and among CHT SL IV Holding, LLC, a Delaware limited liability company (“Seller”), and Health Care REIT, Inc., a Delaware corporation (“Purchaser”). Certain capitalized terms used herein are defined in
Section 1.01. 
 RECITALS: 

A.        Seller and Sunrise Senior Living Investments, Inc., a Virginia
corporation (“Sunrise”), are the sole members of CHTSun Partners IV, LLC, a Delaware limited liability company (“Joint Venture”), in which Seller owns a 55.0212% membership interest and Sunrise owns a 44.9788%
membership interest. Seller’s interest in the Joint Venture is referred to herein as “Seller’s Interest”. 
 B.        Joint Venture is the sole member of Sun IV, LLC, a Delaware limited liability company (“Sun IV”). Sun IV is the sole member of CHT SL IV
TRS Corp., a Delaware corporation (the “TRS”). TRS is the sole member of: (i) CHTSun Two Pool Two, LLC, a Delaware limited liability company (“Pool Two LLC”); (ii) CHTSun Three Pool One, LLC, a Delaware
limited liability company (“Pool One LLC”); (iii) Sunrise Connecticut Avenue Assisted Living Owner, L.L.C., a Virginia limited liability company (“Connecticut Facility Owner”); and (iv) Santa Monica AL,
LLC, a Delaware limited liability company (“Santa Monica LLC”). 

C.        Pool Two LLC is the sole member of CHTSun Two Metairie LA Senior
Living, LLC, a Delaware limited liability company (“Metairie Operating Tenant”); CHTSun Two Gilbert AZ Senior Living, LLC, a Delaware limited liability company (“Gilbert Operating Tenant”); and CHTSun Two Baton
Rouge LA Senior Living, LLC, a Delaware limited liability company (“Baton Rouge Operating Tenant”). 
 D.         Pool One LLC is the sole member of CHTSun Three Lombard IL Senior Living, LLC, a Delaware limited liability company (“Lombard Operating
Tenant”), and Sunrise Louisville KY Senior Living, LLC, a Kentucky limited liability company (“Louisville Operating Tenant”). 
 E.        Santa Monica LLC is: (i) the sole member of Santa Monica GP, LLC, a Delaware limited liability company (“Santa Monica Operating Tenant
GP”), and (ii) the ninety-nine percent (99%) limited partner of AL Santa Monica Senior Housing, LP, a Delaware limited partnership (“Santa Monica Operating Tenant”). Santa Monica Operating Tenant GP is the one
percent (1%) general partner of Santa Monica Operating Tenant. The Metairie Operating Tenant, the Gilbert Operating Tenant, the Baton Rouge Operating Tenant, the Lombard Operating Tenant, the Louisville Operating Tenant, and the Santa Monica
Operating Tenant are collectively referred to herein as the “Operating Tenants”. The Operating Tenants and Santa Monica Operating Tenant GP are collectively referred to herein as the “Operating Subsidiaries”.

 F.        Sun IV is the sole member of each of the limited liability
companies set forth in Column 1 of Exhibit A attached hereto (the “Sun IV Facility Owners” and collectively with the Connecticut Facility Owner, the “Facility Owners”), save and except for the Connecticut
Facility 

 
Owner, which is solely owned by the TRS as noted above. TRS’ and Sun IV’s respective interests in the Facility Owners and the Joint Venture’s interest in Sun IV are referred to
herein collectively as the “Propco Interests”. 

G.        Sun IV’s interest in the TRS; the TRS’s interests in Pool Two
LLC, Pool One LLC, and the Santa Monica LLC (collectively, the “Operating LLCs”); the Operating LLCs’ interests in the Operating Subsidiaries; and the Santa Monica Operating Tenant GP’s interest in the Santa Monica
Operating Tenant are referred to herein collectively as the “Opco Interests”. 

H.        Joint Venture is governed by that certain Amended and Restated Limited
Liability Company Agreement of the Joint Venture, dated as of June 29, 2012 (as may be amended, the “Venture Agreement”). 
 I.        Each Facility Owner owns the fee simple interest in the senior living facility described in Column 2 of Exhibit A attached hereto (each a
“Facility” and collectively, the “Facilities”) set forth across from such Facility Owner’s name. 
 J.        Pursuant to a separate lease agreement for each Facility, each of the Facilities, save and except for the Facility owned by Connecticut Facility Owner, is
leased from the applicable Facility Owner to the applicable Operating Tenant. 

K.        Pursuant to a separate property management agreement and related
documents for each Facility, each of the Facilities is managed by Sunrise Senior Living Management, Inc., an Affiliate of Sunrise (“Manager”). 
 L.        At Closing, Purchaser intends to purchase Seller’s Interest and Seller has agreed to sell Seller’s Interest to Purchaser pursuant to the terms
and conditions set forth herein, and upon receipt of the Purchase Price, Seller has agreed to withdraw from the Joint Venture pursuant to the terms and conditions set forth herein. Seller has determined that the Purchase Price approximates the net
proceeds that the Seller would have realized had the Joint Venture sold its assets for a gross sales price of approximately $240,393,494. 
 Accordingly, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 

Article I. 

INTERPRETATION 
 Section 1.01    Defined Terms.     As used herein, the following terms shall have the meanings indicated: 

Affiliate:  With respect to any specified Person that is not an individual, another Person which,
directly or indirectly, controls, is controlled by, or is under common control with, the specified Person. 

Assignment and Assumption of Interest Agreement:     Assignment and Assumption Agreement
substantially in the form of Exhibit B. 

  
 2 

 Business Day:  Any day, other than a Saturday, a Sunday or
a day on which banks in New York City are required or authorized to close. 
 Charter
Documents:  (i) with respect to any Person which is a corporation, the certificate of incorporation and bylaws of such Person, (ii) with respect to any Person which is a limited liability company, the certificate of formation
and operating or limited liability company agreement of such Person, and (iii) with respect to any Person which is a limited partnership, the certificate of limited partnership and partnership agreement of such Person. 

Code:  The United States Internal Revenue Code of 1986, as amended. 

Contract Date:  The date of this Agreement, set forth in the introductory paragraph. 

Documents:     This Agreement and all Exhibits hereto, and each other agreement,
certificate or instrument delivered pursuant to this Agreement. 
 ERISA:  The Employee
Retirement Income Security Act of 1974, as amended. 
 Existing Owner
Financing:    The existing mortgage financing obtained by the Facility Owners with respect to the Facilities. 
 GAAP:  United States generally accepted accounting principles, consistently applied. 
 Governmental Entity:  Any governmental authority, agency, commission, board or public authority. 
 Healthcare Permits:     All licenses, permits, certifications or approvals issued by Governmental Entities necessary for Facility Owners, Operating Tenants and Manager to
provide healthcare and other assisted living services to Residents as are provided or offered by Facility Owners, Operating Tenants or Manager as of the Contract Date or the Closing Date. 

Liabilities:    Obligations or commitments of any nature whatsoever, whether direct or
indirect, matured or unmatured, fixed or unfixed, known or unknown, accrued, asserted or unasserted, choate or inchoate, liquidated or unliquidated, secured or unsecured, absolute, contingent or otherwise, including any indebtedness or guaranty.

 Licenses:    All certificates, licenses, and permits issued by Governmental
Entities in connection with the ownership, leasing, use, occupancy, operation, and maintenance of the Facilities, including the Healthcare Permits. 
 Lien:  Any mortgage, deed of trust, pledge, hypothecation, right of first refusal, security, voting trust agreement, encumbrance, option, lien or charge of any kind, whether voluntarily
incurred or arising by operation of law or otherwise, affecting any assets or property, including any agreement to give or grant any of the foregoing, any conditional sale or other title retention agreement, and the filing of or agreement to give
any financing statement with respect to any assets or property under the Uniform Commercial Code or comparable law of any jurisdiction. 

  
 3 

 Loss:   With respect to any Person, any and all costs,
obligations, liabilities, demands, claims, settlement payments, awards, judgments, fines, penalties, damages, and reasonable out-of-pocket expenses, including court costs and reasonable attorneys’ fees, whether or not arising out of a third
party claim, but excluding consequential damages. 
 Material Adverse Effect:   Any
change, event, development or effect that individually or in the aggregate has a material adverse effect on (a) the assets, financial condition or results of operations of the Joint Venture, the Facilities, the Facility Owners, the Operating
Tenants and the Real Property in the aggregate or (b) the ability of the parties to consummate the transactions contemplated by this Agreement. 
 Person:  Any individual, partnership, corporation, limited liability company, trust or other legal entity. 

Purchase Price:   An amount equal to $62,332,149, based on anticipated operating cash flow
distributions to Seller between the Contract Date and the Closing Date equal to the amount of $1,568,841 on January 31, 2013 and $1,538,940 on April 30, 2013 as set forth in the financial model attached as Exhibit C and a Closing that
occurs on July 1, 2013. The Purchase Price received by Seller at the Closing shall be adjusted, as necessary, to account for (i) actual operating cash flow distributions to Seller between the Contract Date and the Closing Date, which may
be more than or less than the amounts set forth on Exhibit C, together with additional capital contributions, if any, and (ii) a Closing that occurs after July 1, 2013. Any such adjustments under (i) and (ii) above shall be based
on the financial model attached as Exhibit C so as to provide the Seller with total net cash distributions, inclusive of the quarterly distributions and the Purchase Price for a July 1, 2013 closing, of $65,439,930, plus a per diem equal to
$34,219 for each day the Closing is extended after July 1, 2013. In addition, the Purchase Price shall be increased by $52,073 if the Closing occurs between October 1, 2012 and December 31, 2013 and by $103,959 if the Closing occurs
after December 31, 2013. The only potential variables in the financial model attached as Exhibit C will be the actual operating cash flow distributions to Seller, the payment date for such distributions, additional capital contributions, if
any, and the actual Closing Date. 
 Real Property:  The real property identified in Column 2
of Exhibit A that is owned in fee simple by the relevant Facility Owners and all buildings, structures, fixtures and other improvements located thereon, including all permits, easements, Licenses, rights-of-way, rights and related
appurtenances. 
 Resident:  Each individual resident at the Facilities in his/her capacity as
such. 
 Specially Designated National or Blocked Person:   (i) A person or entity
designated by the U.S. Department of the Treasury’s Office of Foreign Assets Control from time to time as a “specially designated national or blocked person” or similar status, (ii) a person or entity described in
Section 1 of U.S. Executive Order 13224, issued on September 23, 2001 (the “Executive Order”), or (iii) a person or entity otherwise identified by Governmental Entity or legal authority as a person with whom a
United States Person is prohibited from transacting business. As of the date hereof, a list of such designations and the text of the Executive Order are published under the internet website address www.ustreas.gov/offices/enforcement/ofac.

  
 4 

 Taxes:  All federal, state, local and foreign taxes
including, without limitation, income, gains, transfer, unemployment, withholding, payroll, social security, real property, personal property, excise, sales, use and franchise taxes, levies, assessments, imposts, duties, licenses and registration
fees and charges of any nature whatsoever, including interest, penalties and additions with respect thereto and any interest in respect of such additions or penalties, but excluding impact fees or other similar exactions levied or payable in
connection with the development or operation of any of the Facilities and excluding special assessments. 

Title Company:  Fidelity National Title Insurance Company, Mansfield, Ohio office. 

United States Person:  (i) Any individual or business entity, regardless of location, that is a
resident of the United States; (ii) any individual or business entity physically located within the United States; (iii) any business entity organized under the laws of the United States or of any state, territory, possession, or district
thereof; and (iv) any business entity, wheresoever organized or doing business, which is owned or controlled by an individual or business entity specified in (i) or (iii) above. 

Section 1.02   Additional Defined Terms.  As used herein, the following terms shall
have the meanings defined in the recitals or sections indicated below: 
  

			
	 Agreement

 
	 	
Preamble
  

	 Applicable
Date
  
	 	 Section 9.07(d)

 

	 Baton Rouge
Operating Tenant
  
	 	 Recital D

 

	
Closing
  
	 	 Section 8.01

 

	 Closing
Date
  
	 	 Section 3.02

 

	 Closing
Statement
  
	 	 Section 8.02(a)(v)

 

	 Connecticut
Facility Owner
  
	 	 Recital B

 

	
Deductible
  
	 	 Section 9.04

 

	
Facility/Facilities
  
	 	 Recital I

 

	 Facility
Owners
  
	 	 Recital F

 

	 Gilbert
Operating Tenant
  
	 	 Recital C

 

	 Indemnified
Party
  
	 	 Section 9.05(a)

 

	 Indemnifying
Party
  
	 	 Section 9.05(a)

 

	 Joint
Venture
  
	 	 Recital A

 

	 Lombard
Operating Tenant
  
	 	 Recital C

 

	 Louisville
Operating Tenant
  
	 	 Recital D

 

	
Manager
  
	 	 Recital K

 

	
Merger
  
	 	 Section 7.02(b)

 

  
 5 

			
	 Merger Agreement

 
	 	 Section
7.02(b)
  

	 Metairie
Operating Tenant
  
	 	 Recital C

 

	 Opco
Interests
  
	 	 Recital G

 

	 Operating
LLCs
  
	 	 Recital G

 

	 Operating
Subsidiaries
  
	 	 Recital E

 

	 Operating
Tenants
  
	 	 Recital E

 

	 Pool One
LLC
  
	 	 Recital B

 

	 Pool Two
LLC
  
	 	 Recital B

 

	 Propco
Interests
  
	 	 Recital F

 

	
Purchaser
  
	 	 Preamble

 

	 Santa Monica
LLC
  
	 	 Recital B

 

	 Santa Monica
Operating Tenant
  
	 	 Recital E

 

	 Santa Monica
Operating Tenant GP
  
	 	 Recital E

 

	
Seller
  
	 	 Preamble

 

	 Seller
Parent
  
	 	 Section 9.04

 

	 Seller’s
Interest
  
	 	 Recital A

 

	 Sun
IV
  
	 	 Recital B

 

	 Sun IV Facility
Owners
  
	 	 Recital F

 

	
Sunrise
  
	 	 Recital A

 

	 Survival
Period
  
	 	 Section 9.04

 

	 TRS

 
	 	 Recital B

 

	 Venture
Agreement
  
	 	 Recital H

 

 Article II. 
 AGREEMENT TO SELL AND PURCHASE SELLER’S INTEREST 

Section 2.01    Sale of Seller’s Interest.    Upon and subject
to the terms and conditions provided herein, in consideration of the payment of the Purchase Price to Seller, Seller hereby agrees to sell to Purchaser, Seller’s Interest. 

Section 2.02    Distribution of Certain Cash.   Notwithstanding anything
to the contrary contained herein, the parties acknowledge that prior to Closing, Seller and Sunrise shall continue to cause Joint Venture to make distributions of Net Operating Cash Flow (as defined in the Venture Agreement) to Seller and Sunrise in
accordance with and subject to the provisions of the Venture Agreement. All provisions of the Venture Agreement allocating profits, losses, gains, deductions and credits for tax purposes shall remain in effect until the Closing Date. 

  
 6 

 Article III. 
 TITLE TO SELLER’S INTEREST 

Section 3.01    Title to Interests.  Seller shall cause to be released at or
prior to Closing all Liens encumbering Seller’s Interest, the Propco Interests and the Opco Interests. 

Section 3.02    Satisfaction of Conditions Precedent.    The Closing
shall take place, as provided in Section 8.01, on a date designated by Purchaser that is within fifteen (15) days of the satisfaction or waiver of the last to be fulfilled of the conditions in Article VII (such date, the “Closing
Date”); provided, however, that (i) in no event shall the Closing take place prior to July 1, 2013, (ii) if the Closing Date is to occur on July 1, 2013, then Purchaser shall have given Seller prior written notice of the
Closing Date on or before June 1, 2013; and (iii) if the Closing Date does not occur on July 1, 2013, Purchaser shall have given Seller sixty (60) days prior written notice of the Closing Date unless otherwise agreed to by the
Purchaser and Seller. In addition, in no event shall the Closing take place within thirty (30) days of the consummation of the Merger. 
 Article IV. 
 REPRESENTATIONS AND WARRANTIES OF PURCHASER 

Purchaser represents and warrants to Seller as follows: 

Section 4.01    Organization, Good Standing and Entity
Authority.     Purchaser is a corporation, duly organized, validly existing and in good standing under the laws of the State of Delaware. Purchaser has all requisite corporate power to own and operate its properties and
carry on its business. 
 Section 4.02    Authorization and Binding Effect of
Documents.    Purchaser has all requisite power and authority to enter into this Agreement and shall have all requisite power and authority to enter into the other Documents to which Purchaser is to be a party and to
consummate the transactions contemplated by this Agreement and such other Documents. The execution and delivery of this Agreement by Purchaser and the consummation by Purchaser of the transactions contemplated hereby, on the terms and subject to the
conditions herein, has been duly authorized by all necessary action on the part of Purchaser. This Agreement has been, and each of the other Documents to which Purchaser is to be a party will be, duly executed and delivered by Purchaser at or prior
to Closing. This Agreement constitutes (and each of the other Documents to which Purchaser is to be a party, when executed and delivered, will constitute) the valid and binding obligation of Purchaser enforceable against Purchaser in accordance with
its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium and other similar laws affecting the rights of creditors generally and to the exercise of judicial discretion in accordance with general principles of equity,
whether applied by a court of law or of equity. 
 Section 4.03    Absence of
Conflicts.     The execution, delivery and performance by Purchaser of this Agreement and the other Documents to which Purchaser is to be a party, and consummation by Purchaser of the transactions contemplated hereby and
thereby, do not and will not (i) conflict with or result in any breach of any of the terms, conditions or provisions of, (ii) constitute a default under, (iii) result in a violation of, or (iv) give any third party the right to

  
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modify, terminate or accelerate any obligation under, the provisions of the certificate of incorporation or the by-laws of Purchaser, any law, regulation, judgment, rule, order or decree to which
Purchaser is subject, or any indenture, mortgage, lease, loan agreement or other agreement or instrument to which Purchaser is subject; provided, that, Purchaser makes no representation or warranty pursuant to this Section 4.03 with
respect to Licenses, Healthcare Permits or related regulatory matters relating to the Joint Venture, the Operating Tenants, the Connecticut Facility Owner, the Manager or their respective Affiliates. 

Section 4.04    Consents.     Except for such reports and
filings that an Affiliate of Purchaser may be required to make with the Securities and Exchange Commission pursuant to the Securities Exchange Act of 1934, as amended, the execution, delivery and performance by Purchaser of this Agreement and the
other Documents to which Purchaser is to be a party do not require any order, permission, consent, approval, authorization, registration or validation of, or exemption, clearance or other action by, or notice or declaration to, or filing with, any
Governmental Entity or the consent, waiver or approval of any other Person which has not been obtained and is currently in full force and effect; provided, that, Purchaser makes no representation or warranty pursuant to this Section 4.04
with respect to Licenses, Healthcare Permits or related regulatory matters relating to the Joint Venture, the Operating Tenants, the Connecticut Facility Owner, the Manager or their respective Affiliates. 

Section 4.05    Broker’s or Finder’s Fees.  No agent, broker,
investment banker or other Person acting on behalf of or under the authority of Purchaser is or will be entitled to any broker’s or finder’s fee or any other commission or similar fee, directly or indirectly, from Seller in connection with
the transactions contemplated by this Agreement. 
 Section 4.06    No
Insolvency.    Purchaser has not committed an act of bankruptcy, proposed a compromise or arrangement to its creditors generally, had any petition for a receiving order in bankruptcy filed against it, instituted any
proceeding with respect to a compromise or arrangement, instituted any proceeding to have itself declared bankrupt or wound-up, instituted any proceeding to have a receiver appointed in connection with any of its assets, had any encumbrancer take
possession of any of its assets, or had any execution or distress become enforceable or become levied upon any of its assets or otherwise taken advantage of any bankruptcy or insolvency laws. 

As used in this Agreement, the phrase “to Purchaser’s knowledge” and similar phrases shall mean the
current, actual (not constructive, imputed, or implied) knowledge, after due inquiry, of Erin C. Ibele. 
 Article V. 

REPRESENTATIONS AND WARRANTIES OF SELLER 
 Seller represents and warrants to Purchaser as follows: 

Section 5.01    Organization and Good Standing and Entity
Authorization.    Seller is a limited liability company, duly organized, validly existing and in good standing under the laws of the State of Delaware. Seller has all requisite limited liability company power to own, operate
and lease its properties and carry on its business. 

  
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 Section 5.02    Authorization and Binding Effect
of Documents.  Seller has all requisite power and authority to enter into this Agreement and, at Closing, shall have all requisite power and authority to enter into the other Documents to which it is to be a party and to consummate the
transactions contemplated by this Agreement and such other Documents. The execution and delivery of this Agreement by Seller and the consummation by Seller of the transactions contemplated hereby, on the terms and subject to the conditions herein,
have been duly authorized by all necessary action on the part of Seller and Seller’s equity holders. This Agreement has been, and each of the other Documents to which Seller is to be a party will be, duly executed and delivered by Seller at or
prior to Closing. This Agreement constitutes (and each of the other Documents to which Seller is to be a party, when executed and delivered, will constitute) the valid and binding obligation of Seller enforceable against Seller in accordance with
its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium and other similar laws affecting the rights of creditors generally and to the exercise of judicial discretion in accordance with general principles of equity,
whether applied by a court of law or of equity. 
 Section 5.03    Absence of
Conflicts.  The execution, delivery and performance by Seller of this Agreement and the other Documents to which Seller is to be a party, and consummation by Seller of the transactions contemplated hereby and thereby, do not and will
not (i) conflict with or result in any breach of any of the terms, conditions or provisions of, (ii) constitute a default under, (iii) result in a violation of, (iv) give any third party the right to modify, terminate or
accelerate any obligation under, the provisions of the certificate of formation or limited liability company agreement of Seller, any law, regulation, rule, judgment, order or decree to which Seller is subject, or any indenture, mortgage, lease,
loan agreement or other agreement or instrument by which Seller is bound or affected; provided, that, Seller makes no representation or warranty pursuant to this Section 5.03 with respect to Licenses, Healthcare Permits or related
regulatory matters relating to the Joint Venture, the Operating Tenants, the Connecticut Facility Owner, the Manager or their respective Affiliates. 
 Section 5.04    Consents.    The execution, delivery and performance by Seller of this Agreement and the other Documents, and consummation by Seller of
the transactions contemplated hereby and thereby, do not and will not require the authorization, consent, approval, exemption, clearance, order, permission, license, registration or validation of, or exemption by, or other action by or notice or
declaration to, or filing with, any court or Governmental Entity, or the consent, waiver or approval of any other Person which has not been obtained and is currently in full force and effect; provided, that, Seller makes no representation or
warranty pursuant to this Section 5.04 with respect to Licenses, Healthcare Permits or related regulatory matters relating to the Joint Venture, the Operating Tenants, the Connecticut Facility Owner, the Manager or their respective
Affiliates. 
 Section 5.05    Broker’s or Finder’s
Fees.  No agent, broker, investment banker, or other Person acting on behalf of or under the authority of Seller is or will be entitled to any broker’s or finder’s fee or any other commission or similar fee, directly or
indirectly, from Purchaser in connection with the transactions contemplated by this Agreement. 

Section 5.06    ERISA. 

  
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     (a)       Seller
is not an “employee benefit plan” (as defined in Section 3(3) of ERISA) that is subject to the provisions of Title I of ERISA, a “plan” as defined in and subject to Section 4975 of the Code, or an entity deemed to hold
“plan assets” of either of the foregoing. 

    (b)       Seller is not a “governmental plan”
within the meaning of Section 3(32) of ERISA and Seller is not subject to state statutes regulating investments of and fiduciary obligations with respect to governmental plans that would be violated by the transactions contemplated by this
Agreement. 
 Section 5.07    No Judgments.    To
Seller’s knowledge, there are no judgments presently outstanding and unsatisfied directly against Seller, the Joint Venture, Sun IV, TRS, the Operating LLCs, the Operating Subsidiaries or the Facility Owners, and such entities are not involved
in any litigation at law or in equity, or in any proceeding before any court, or by or before any Governmental Entity, which judgment, litigation or proceeding could reasonably be anticipated to have a Material Adverse Effect and which is not fully
covered by insurance and, to Seller’s knowledge, (i) no such judgment, litigation or proceeding is threatened against such entities which could reasonably be anticipated to have a Material Adverse Effect and (ii) no investigation
looking toward such a proceeding has begun or is contemplated. A list of litigation, proceedings and investigations pending or threatened in writing against Seller, the Joint Venture, Sun IV, TRS, the Operating LLCs, the Operating Subsidiaries or
the Facility Owners is attached as Schedule 5.07 to this Agreement. To Seller’s knowledge, such list is true, correct and complete. 
 Section 5.08    No Insolvency.  Seller has not committed an act of bankruptcy, proposed a compromise or arrangement to its creditors generally, or had any
petition for a receiving order in bankruptcy filed against it, instituted any proceeding to have itself declared bankrupt or wound-up, instituted any proceeding to have a receiver appointed in connection with any of its assets, had any encumbrancer
take possession of any of its assets, or had any execution or distress become enforceable or become levied upon any of its assets or otherwise taken advantage of any bankruptcy or insolvency laws. 

Section 5.09    FIRPTA.  Seller is not a “foreign person” within the
meaning of Section 1445 of the Code and the regulations issued thereunder. 

Section 5.10    Specially Designated National or Blocked
Person.     Based solely on publicly-available information or as otherwise disclosed to Seller, neither Seller, nor any of its shareholders, directors or officers is a Specially Designated National or Blocked Person.
Neither Seller nor any of its shareholders is directly or indirectly owned or controlled by the government of any country that is subject to an embargo by the United States government. Neither Seller nor any of its shareholders, directors or
officers is acting on behalf of a government of any country that is subject to such an embargo. 

Section 5.11    Ownership of Seller’s Interest. 

    (a)       Seller is the sole legal owner of Seller’s
Interest. Except as set forth on Schedule 5.11, Seller’s Interest is free and clear of all Liens encumbering Seller’s Interest, and Seller has good and marketable title to Seller’s Interest (subject to applicable securities laws).
There is no restriction or limitation on Seller’s right to sell Seller’s Interest as contemplated by 

  
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this Agreement, except as set forth in the Venture Agreement, which requires the approval and consent of Sunrise for the consummation by Seller of the transactions contemplated by this Agreement.
At Closing, Seller will transfer to Purchaser Seller’s Interest, free and clear of all Liens. 

    (b)       Joint Venture is the sole legal owner of Sun IV.
Sun IV is the sole legal owner of TRS and the Facility Owners, other than the Connecticut Facility Owner. TRS is the sole legal owner of the Operating LLCs and the Connecticut Facility Owner. Pool Two LLC is the sole legal owner of the Metairie
Operating Tenant, the Gilbert Operating Tenant, and the Baton Rouge Operating Tenant. Pool One LLC is the sole legal owner of the Lombard Operating Tenant and the Louisville Operating Tenant. Santa Monica LLC is the sole legal owner of the Santa
Monica Operating Tenant GP and the ninety-nine percent (99%) owner of the Santa Monica Operating Tenant. Santa Monica Operating Tenant GP is the one percent (1%) owner of the Santa Monica Operating Tenant. The Propco Interests and the Opco
Interests are validly issued. 
 Section 5.12    Adverse
Actions.   Except as set forth on Schedule 5.12, Seller has not taken any actions that could give rise to a Lien on, or any other adverse consequences with respect to, the Real Property or any of the assets or property owned by
the Joint Venture, Sun IV, the TRS, the Operating LLCs, the Facility Owners, or the Operating Subsidiaries. 

Section 5.13    No Undisclosed Liabilities.  To Seller’s knowledge, none
of the Joint Venture, Sun IV, TRS, the Operating LLCs, the Operating Subsidiaries or the Facility Owners has any material Liabilities required by GAAP to be disclosed on a balance sheet, except those Liabilities incurred in the ordinary course of
business, those Liabilities that have been disclosed to Purchaser or that Purchaser has knowledge of, or those Liabilities that are set forth on the most recent financial statements of such entities. 

Section 5.14    Taxes.    There are no due, but unpaid, Tax
liabilities or obligations of Seller or, to Seller’s knowledge, the Joint Venture, Sun IV, TRS, the Operating LLCs, the Operating Subsidiaries or the Facility Owners, whether contingent or otherwise, which, by application of law or otherwise,
Purchaser could, upon Closing, reasonably be expected to become responsible for. To Seller’s knowledge, none of the Joint Venture, Sun IV, TRS, the Operating LLCs, the Operating Subsidiaries or the Facility Owners has been notified in writing
of any pending or threatened Tax audit. To Seller’s knowledge, the Joint Venture, Sun IV, TRS, the Operating LLCs, the Operating Subsidiaries and the Facility Owners have filed all required federal, state and local Tax returns and have made
adequate provision for the payment of such Taxes, if any. To Seller’s knowledge, there are no present or pending disputes as to Taxes of any nature payable by the Joint Venture, Sun IV, TRS, the Operating LLCs, the Operating Subsidiaries or the
Facility Owners or proposed assessments of any Taxes pending against such entities, nor, to the knowledge of Seller, is there basis for any such disputes. To Seller’s knowledge, the Joint Venture has, at all times since its formation, been
taxed as a partnership for the purposes of all applicable federal, state and local Tax filings and returns. 

As used in this Agreement, the phrase “to Seller’s knowledge” and similar phrases shall mean the current,
actual (not constructive, imputed or implied) knowledge, after due inquiry, of John Starr, Kevin R. Maddron or Sarah W. Nixon. 

  
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 Article VI. 
 COVENANTS 

Section 6.01    Publicity.  The parties agree that, prior to the Closing, no
public release or announcement concerning the transactions contemplated hereby shall be issued by any party without the prior written consent of the other parties, except as required by law or applicable regulations. The parties may disclose this
Agreement and matters relating to the subject matter hereof to (i) their professional advisers (including legal and financial advisers) or (ii) any prospective or existing lenders, provided that in each case any such party informs the
recipient of the confidentiality obligations of such party hereunder. The parties understand and agree that if required by law, or if required by applicable disclosure requirements under applicable securities laws or other laws, one or more of the
parties may (i) disclose certain information concerning the transaction, (ii) issue one (1) or more press releases concerning the execution of this Agreement and/or the purchase of the Facilities, provided that with respect to
any press release which identifies Seller, Purchaser or their respective Affiliates, the party issuing the release shall use its reasonable best efforts to seek the prior approval of the other party, as applicable, such approval not to be
unreasonably delayed or withheld and, in any event, such requirement to seek prior approval not to preclude any party or its Affiliate from complying with applicable disclosure obligations under law, and (iii) file a copy of this Agreement with
the Securities and Exchange Commission. 
 Section 6.02    Commercially Reasonable
Efforts.  Subject to the terms and conditions of this Agreement, each party will use its commercially reasonable efforts to take all action and to do all things necessary, proper or advisable to satisfy any condition hereunder in its
power to satisfy and for which it is responsible for the satisfaction of, and to consummate and make effective as soon as practicable the transactions contemplated by this Agreement, provided that except as otherwise provided in this Agreement in no
event shall a party be required to pay more than a de minimus amount to any third party in connection with the exercise of such commercially reasonable efforts. 

Section 6.03    No Recordation.     Seller and Purchaser each
agrees that neither this Agreement nor any memorandum or notice hereof shall be recorded. 

Section 6.04    Licenses.   Seller shall use commercially reasonable
efforts to cooperate, and shall cause the Operating Tenants and the Connecticut Facility Owner to cooperate, with Purchaser in such manner as Purchaser may reasonably request in connection with the issuance or transfer to Purchaser, the Operating
Tenants, the Facility Owners and/or Manager (or other appropriate party) of the Licenses, provided that in no event shall Seller be required to incur any financial obligation to any party in connection with the exercise of such commercially
reasonable efforts. Without limiting the generality of the foregoing, Seller shall promptly provide to Purchaser such information in its possession and control concerning the Joint Venture, Manager, the Facility Owners, the Operating Tenants and the
Facilities as may be reasonably requested by any Governmental Entity in connection with the issuance of Licenses required to effect the transactions contemplated by this Agreement, and none of the Joint Venture, the Operating Tenants or the Facility
Owners shall bear any costs in connection with such issuance or transfer prior to the Closing. 

  
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 Section 6.05    Casualty.  In the
event that all or any portion of the Facilities is damaged or destroyed by fire or other casualty prior to Closing, subject to the terms of the Existing Owner Financing, the Joint Venture shall promptly cause the applicable Facility Owner or
Operating Tenant to undertake such repair and complete the same. Closing will not be extended to permit the Facility Owner and Operating Tenant to complete the same, but subject to the terms of any Existing Owner Financing, the insurance proceeds
will be assigned to Purchaser or its designee at Closing to pay the costs of restoration. 

Section 6.06    Condemnation.  In the event there is any permanent or temporary
actual or threatened taking or condemnation of any portion of any Facility, any and all proceeds of such taking or condemnation shall be delivered or assigned to Purchaser or its designee at Closing. 

Section 6.07    Operation of Business; Insurance.  Through the Closing Date,
Purchaser shall cause Manager to (i) continue to manage and operate the Facilities, taken as a whole, in the ordinary course of business in the manner it has previously managed and operated the Facilities prior to the date of this Agreement,
and (ii) maintain in full force and effect insurance against loss or damage by fire and such other hazards as are customarily covered by extended coverage endorsement in commercially reasonable amounts, but in no event less than the full
replacement cost of the Real Property and improvements thereon. 

Section 6.08    Exclusivity During Contract Period.  Until the earlier of the
Closing and the termination of this Agreement, none of Seller, Purchaser or their respective Affiliates, agents, brokers or representatives shall (i) directly or indirectly, offer to, negotiate with, engage in discussions with, or provide
information to, any other party with respect to a sale, joint venture, syndication or other disposition, transfer or conveyance of Seller’s Interest, or any merger, sale of substantial assets or similar transaction involving the Joint Venture,
Sun IV, TRS, the Operating LLCs, the Operating Subsidiaries or the Facility Owners and/or (ii) exercise any transfer rights, sale rights, purchase option, buy-sell rights, rights of first offer, put rights or other similar rights pursuant to
the Venture Agreement. For purposes of clarity, upon the consummation of the Merger, this Agreement will supersede Sunrise’s purchase options under the Venture Agreement. 

Section 6.09    Tax Information.  Purchaser shall provide to Seller, at
Seller’s reasonable request and at no more than a de minimus cost to Purchaser, any documents, records, or similar information in Purchaser’s possession related to Taxes arising in periods prior to or at Closing with respect to the
Seller’s Interest. 
 Section 6.10    TRS
Election.      Upon request of Purchaser in connection with the consummation of the Merger, Seller shall cooperate with Purchaser and Sunrise in making a taxable REIT subsidiary election with respect to TRS for the
benefit of Purchaser and its Affiliates, which cooperation may include, without limitation, completing, executing and filing applicable forms with the Internal Revenue Service. 

Section 6.11    Restructuring; Modifications.    Seller agrees to
cooperate in good faith with Purchaser, Sunrise and the holders of the Existing Owner Financing prior to or after the consummation of the Merger to (a) restructure Joint Venture, Sun IV, TRS, the Operating LLCs, the Operating Subsidiaries
and/or the Facility Owners, and (b) modify the mortgages and other 

  
 13 

 
documents evidencing the Existing Owner Financing; provided, that, in no event will Seller be negatively impacted economically by such restructuring or modifications or become subject to
additional Liabilities beyond what is contemplated by this Agreement as a result of such restructuring or modifications. Purchaser will pay all reasonable costs, including legal fees and transfer or similar transaction-related Taxes, incurred by
Seller and its Affiliates in connection with any such restructuring or modifications. 
 Article VII. 

CONDITIONS PRECEDENT TO THE OBLIGATION 
 OF PURCHASER AND SELLER TO CLOSE 

Section 7.01    Conditions to Each Party’s Obligation to Close.  The
obligation of each party to proceed to Closing is subject to the satisfaction of each of the following conditions, any of which may be waived, in whole or in part, in writing by the parties at or prior to Closing: 

    (a)       No Governmental Entity of competent jurisdiction
will have enacted, issued, promulgated, enforced or entered into any statute, rule, regulation, executive order, decree, injunction or other order (whether temporary, preliminary or permanent) that (i) is in effect and (ii) has the effect
of making the transactions contemplated by this Agreement illegal or otherwise prohibits the consummation of such transactions. 
     (b)       The transactions contemplated by the Agreement and Plan of Merger (the “Merger Agreement”), dated as of
August 21, 2012, by and among Sunrise Senior Living, Inc., Brewer Holdco, Inc., Brewer Holdco Sub, Inc., Health Care REIT, Inc. and Red Fox, Inc. (the “Merger”) shall have been consummated. 

    (c)       The parties shall cooperate in good faith to
allocate the Purchase Price for the properties identified in Exhibit F on or before January 31, 2013. 

    (d)       The parties hereby acknowledge and agree that
Exhibit F is a draft exhibit, and the parties shall finalize such Exhibit F on or before January 31, 2013, which final version shall include the party responsible for the payment of transfer taxes, if applicable, relating to the properties
identified in Exhibit F. As such, the parties hereby acknowledge that the responsible party as currently reflected in Exhibit F may be changed on or before January 31, 2013. 

Section 7.02    Conditions to Purchaser’s Obligation to
Close.      The obligation of Purchaser to proceed to Closing is subject to the satisfaction of each of the following conditions, any of which may be waived, in whole or in part, in writing by Purchaser at or prior
to Closing: 
     (a)       Seller shall have performed
in all material respects all of its obligations under this Agreement which are required to be performed at or prior to Closing. 
     (b)       All representations and warranties of Seller set forth in Article V of this Agreement shall have been true and correct in all
material respects as of the Contract Date and as of the Closing Date with the same force and effect as though made on and as of the Closing Date. 
     (c)       Seller shall have executed and/or delivered all of the documents required to be delivered at Closing pursuant to
Section 8.02(a). 

  
 14 

     (d)       The
Operating Tenants, Manager and/or their respective Affiliates shall have obtained all of the Healthcare Permits necessary for the operation of the Facilities after the Closing. 

    (e)       All lender consents required under the documents
evidencing the Existing Owner Financing shall have been obtained. 

    (f)       Seller shall obtain from RCG LV Debt IV Non-REIT
Assets Holdings, LLC (the “Lender”) a release from the Lien related to that certain Pledge and Security Agreement between Seller and Lender dated June 29, 2012, which agreement collateralized a mezzanine loan between the Lender
and the Seller dated as of the same date. 
 Section 7.03    Conditions to
Seller’s Obligation to Close.  The obligation of Seller to proceed to Closing is subject to the satisfaction of each of the following conditions, any of which may be waived, in whole or in part, in writing by Seller at or prior to
Closing: 
     (a)       Purchaser shall have performed
in all material respects its obligations under this Agreement which are required to be performed at or prior to Closing. 
     (b)       All representations and warranties of Purchaser set forth in Article IV of this Agreement shall be true and correct in all
material respects as of the Contract Date and as of Closing with the same force and effect as though made on and as of the Closing Date. 
     (c)       Purchaser shall have executed and delivered all of the documents required to be delivered at Closing pursuant to Sections
8.02(b). 
     (d)       Purchaser shall cause
lender to release, from and after Closing, Seller and/or its Affiliates under those certain agreements listed on Exhibit D in a form reasonably satisfactory to Seller. 
 Article VIII. 
 CLOSING 

Section 8.01    Time and Place.    Closing of Purchaser’s
acquisition of Seller’s Interest pursuant to this Agreement (the “Closing”) shall take place at the offices of Purchaser (or at such other place as Purchaser and Seller mutually agree) on the Closing Date or such other date as
is mutually agreed upon by Seller and Purchaser. The parties currently anticipate that the Closing will occur on or about July 1, 2013, or if later, within ninety (90) days following the consummation of the Merger (but in no event shall
the Closing take place within thirty (30) days of the consummation of the Merger), subject to the satisfaction or waiver of the conditions described in Article VII. 

  
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 Section 8.02    Delivery of Documents at
Closing. 
     (a)       At Closing, Seller shall:

       (i)        Execute and deliver
to Purchaser (or its designee) the Assignment and Assumption of Interest Agreement, which shall constitute Seller’s relinquishment of Seller’s Interest in the Joint Venture, and any share certificate(s) representing Seller’s Interest,
duly endorsed for transfer or accompanied by one or more stock powers. 

      (ii)       Execute, cause to be acknowledged and
deliver to Purchaser a certificate confirming the matters set forth in Sections 7.02(a) and (b) with respect to Seller as of the Closing Date, such certificate to be signed by a duly authorized officer of Seller (or its
controlling Affiliate). 
       (iii)      Provide
to Purchaser (A) a copy of the Charter Documents of Seller certified by a duly authorized officer of Seller and (B) such other evidence of the power and authority of Seller to consummate the transactions described in this Agreement as
Purchaser may reasonably require. 

      (iv)      Execute, cause to be acknowledged as
appropriate and deliver to Purchaser such additional documents as may be reasonably necessary or customary to consummate the transactions contemplated by this Agreement and that are consistent with this Agreement (and do not impose any additional
Liabilities on Seller beyond what is contemplated by this Agreement). 

      (v)       Execute, cause to be acknowledged as
appropriate and deliver to Purchaser a closing statement or memorandum in a form reasonably acceptable to Purchaser and Seller (the “Closing Statement”). 

      (vi)      Execute, cause to be acknowledged and
deliver to Purchaser one or more non-foreign status affidavits in the form of Exhibit E, as required by Section 1445 of the Code. 
       (vii)     Execute, cause to be acknowledged and deliver to the Title Company any non-imputation and other customary closing affidavits,
certificates and agreements as the Title Company may require to issue any title policies, updates or endorsements in connection with Closing. 
       (viii)    Execute or cause to be executed, and cause to be acknowledged and filed, as applicable, any and all transfer tax forms, or signature pages
to transfer tax forms reasonably requested by Purchaser in connection with the transfer of Seller’s Interest or the indirect interests in the Facility Owners to Purchaser (or its designee) as contemplated hereunder. 

  
 16 

     (b)       At
Closing, Purchaser shall: 

      (i)       Pay the Purchase Price by wire transfer
of immediately available funds to an account designated by Seller and the other closing costs to be borne by Purchaser hereunder. 
       (ii)      Execute and deliver the Assignment and Assumption of Interest Agreement. 

      (iii)     Execute, cause to be acknowledged as appropriate
and deliver such additional documents as may be reasonably necessary or customary to consummate the transactions contemplated by this Agreement and that are consistent with this Agreement (and do not impose any additional Liabilities on Purchaser
beyond what is contemplated by this Agreement). 

      (iv)     Execute, acknowledge and deliver a certificate to
Seller confirming the matters set forth in Sections 7.03(a) and (b) with respect to Purchaser, as of the Closing Date, such certificates to be signed by an officer of Purchaser. 

      (v)      Execute, and cause to be acknowledged, as
appropriate, and deliver the Closing Statement. 

      (vi)     Execute, and cause to be notarized and filed, as
applicable, any and all transfer tax forms, or signature pages to transfer tax forms, required by applicable law or advisable, in the reasonable opinion of Purchaser (as the case may be), in connection with the transfer of Seller’s Interest or
the indirect interests in the Facility Owners to Purchaser (or its designee). 

Section 8.03    Closing Costs. 

    (a)       Except as otherwise specifically provided in this
Agreement, Purchaser and Seller shall each, as appropriate, pay the fees and expenses of their own attorneys, accountants, financial advisors, investment bankers and employees. 

    (b)       Any transfer taxes, fees or similar charges
incurred as a result of the transactions contemplated by this Agreement shall be paid by the party customarily responsible for the payment of such taxes, fees and charges in the applicable jurisdiction. For purposes of clarity, the parties agree
that Exhibit F attached hereto sets forth the customary allocation of such taxes, fees and charges. 

    (c)       Purchaser shall pay for any and all assumption,
prepayment, defeasance or similar costs and fees in connection with the Existing Owner Financing, including any costs or fees in connection with consents from the holders of the Existing Owner Financing or other actions required in connection with
the Existing Owner Financing with respect to the transactions contemplated by this Agreement. Such costs and fees shall include Seller’s reasonable legal fees incurred in connection with such assumptions, prepayments or defeasances. 

  
 17 

 Article IX. 
 INDEMNITY; DEFAULT; DAMAGES; TERMINATION 

Section 9.01    Purchaser’s Remedies for Seller’s Defaults.  If
Seller materially breaches any of its representations and warranties hereunder, or defaults on any of its obligations hereunder in any material respect, and such default continues for ten (10) Business Days after written notice thereof from
Purchaser to Seller specifying such default, including, without limitation, a breach of the obligation to sell Seller’s Interest on the Closing Date, time being of the essence, Purchaser may, as Purchaser’s sole remedy hereunder, by
delivering notice in writing to Seller in the manner provide in this Agreement, either (i) terminate this Agreement and the other Documents and declare it and them null and void (except for those obligations that expressly survive such
termination), (ii) seek enforcement of this Agreement by a decree of specific performance or injunctive relief requiring Seller to fulfill its obligations under this Agreement, including but not limited to the transfer of Seller’s Interest
or (iii) waive any such conditions or defaults and consummate the transactions contemplated by this Agreement and the Documents in the same manner as if there had been no conditions or defaults without any reduction in the Purchase Price and
without any further claim against Seller. 
 Section 9.02    Seller’s Remedies
for Purchaser’s Defaults.    If Purchaser materially breaches any of its representations or warranties hereunder, or defaults on any of its obligations hereunder in any material respect, and such default continues for
ten (10) Business Days after written notice thereof from Seller to Purchaser specifying such default, Seller may, as its sole remedy hereunder, by delivering notice in writing to Purchaser in the manner provided in this Agreement, either,
(i) terminate this Agreement and the other Documents and declare it and them null and void (except for those obligations that expressly survive such termination), or (ii) waive any such conditions or defaults and consummate the
transactions contemplated by this Agreement and the Documents in the same manner as if there had been no conditions or defaults without any reduction in the Purchase Price and without any further claim against Purchaser. 

Section 9.03    Indemnification by Purchaser.    If the Closing
occurs, Purchaser shall indemnify, defend, and hold harmless Seller and its respective members, officers, directors, employees, Affiliates, successors and assigns from and against, and pay or reimburse each of them for and with respect to, any Loss
relating to, arising out of or resulting from any breach by Purchaser of any of its representations, warranties, covenants or agreements in this Agreement or any other Document to which it is a party; provided, however, that all claims for
indemnification under this Section 9.03 must be set forth in reasonable detail in a written notice received by Purchaser during the Survival Period (as defined below) and any litigation with respect to such claim shall be commenced on or
prior to the date that is sixty (60) days after the expiration of the Survival Period. Notwithstanding anything to the contrary contained herein or in any other Document, if the Closing occurs, Purchaser shall not have liability to Seller for
Losses incurred by Seller (a) unless and until the aggregate amount of Losses subject to indemnification exceeds the Deductible, and (b) in excess of an amount equal to two and one-half percent (2.5%) of the Purchase Price.

 Section 9.04    Indemnification by Seller.    If the
Closing occurs, (A) Seller shall indemnify, defend, and hold harmless Purchaser and its officers, directors, employees, Affiliates, successors and assigns from and against, and pay or reimburse each of them for and with respect

  
 18 

 
to, any Loss relating to, arising out of or resulting from any breach by Seller of any of its representations, warranties, covenants or agreements in this Agreement or any other Document to which
it is a party and (B) CNL Healthcare Trust, Inc. (“Seller Parent”) and Seller shall jointly and severally, indemnify, defend, and hold harmless Purchaser and its officers, directors, employees, Affiliates, successors and
assigns from and against, and pay or reimburse each of them for and with respect to, any Loss relating to, arising out of or resulting from any breach by Seller of any of its representations set forth in Sections 5.02 and 5.11;
provided, however, that all claims for indemnification under this Section 9.04 must be set forth in reasonable detail in a written notice received by Seller and/or Seller Parent not later than the date that is twelve (12) months
following the Closing Date (the “Survival Period”) and any litigation with respect to such claim shall be commenced on or prior to the date that is sixty (60) days after the expiration of the Survival Period. Notwithstanding
anything to the contrary contained herein or in any other Document, if the Closing occurs, neither Seller nor Seller Parent shall have any liability to Purchaser for Losses incurred by Purchaser (other than Losses incurred as a result of any breach
or inaccuracy of any representation or warranty contained in Sections 5.02 and 5.11) unless and until the aggregate amount of Losses subject to indemnification exceeds Twenty-Five Thousand Dollars ($25,000.00) (the
“Deductible”). In addition, notwithstanding anything to the contrary contained herein or in any other Document, if the Closing occurs, neither Seller nor Seller Parent shall have any liability to Purchaser in excess of:
(x) with respect to the representations set forth in Sections 5.02 and 5.11, an amount equal to the Purchase Price and (y) with respect to all other breaches by Seller in this Agreement or any other Document, an amount equal
to two and one-half percent (2.5%) of the Purchase Price. 

Section 9.05    Administration of Indemnification.    For purposes of
administering the indemnification provisions set forth in Sections 9.03 and 9.04, the following procedure shall apply: 
     (a)       Whenever a claim shall arise for indemnification under this Article, the party entitled to indemnification (the “Indemnified
Party”) shall promptly give written notice to the party from whom indemnification is sought (the “Indemnifying Party”) setting forth in reasonable detail, to the extent then available, the facts concerning the nature of
such claim and the basis upon which the Indemnified Party believes that it is entitled to indemnification hereunder. 
     (b)       In the event of any claim for indemnification resulting from or in connection with any claim by a third party, the Indemnifying Party
shall be entitled, at its sole expense, either (i) to participate in defending against such claim or (ii) to assume the entire defense with counsel which is selected by it and which is reasonably satisfactory to the Indemnified Party
provided that (A) the Indemnifying Party agrees in writing that it does not and will not contest its responsibility for indemnifying the Indemnified Party in respect of such claim or proceeding and (B) no settlement shall be made and no
judgment consented to without the prior written consent of the Indemnified Party which shall not be unreasonably withheld. If, however, (i) the claim, action, suit or proceeding would, if successful, result in the imposition of damages for
which the Indemnifying Party would not be solely responsible, or (ii) representation of both parties by the same counsel would otherwise be inappropriate due to actual or potential differing interests between them, then the Indemnifying Party
shall not be entitled to assume the entire defense and each party shall be entitled to retain counsel who shall cooperate with one 

  
 19 

 
another in defending against such claim. In the case of clause (i) of the immediately preceding sentence, the Indemnifying Party shall be obligated to bear only that portion of the expense
of the Indemnified Party’s counsel that is in proportion to the damages indemnifiable by the Indemnifying Party compared to the total amount of the third-party claim against the Indemnified Party. 

    (c)       If the Indemnifying Party does not choose to defend
against a claim by a third party, the Indemnified Party may defend in such manner as it deems appropriate or settle the claim (after giving notice thereof to the Indemnifying Party) on such terms as the Indemnified Party may deem appropriate, and
the Indemnified Party shall be entitled prompt indemnification from the Indemnifying Party in accordance with this Article. 
     (d)       Failure or delay by an Indemnified Party to give prompt notice of any claim shall not release, waive or otherwise affect an
Indemnifying Party’s obligations with respect to the claim, except to the extent that the Indemnifying Party can demonstrate actual loss or prejudice as a result of such failure or delay. 

Section 9.06     Exclusive Remedies.   The rights and remedies set
forth in this Article IX shall be exclusive of all other rights to monetary damages that any party (or any party’s successors or assigns) would otherwise have at law or in equity in connection with the transactions contemplated by this
Agreement or any other Document, other than with respect to claims based on common law fraud or rights which by law cannot be waived or limited. 
 Section 9.07     Termination.  Notwithstanding anything in this Agreement to the contrary: 

    (a)       This Agreement shall automatically terminate upon
the termination of the Merger Agreement. 

    (b)       This Agreement may be terminated at any time by
mutual written consent of Purchaser and Seller. 

    (c)       Purchaser may terminate this Agreement in
accordance with Section 9.01 and Seller may terminate this Agreement in accordance with Section 9.02. 
     (d)       This Agreement may be terminated by Purchaser or Seller if the transactions contemplated by this Agreement have not been consummated by
the later to occur of (i) July 1, 2013 and (ii) ninety (90) days following the consummation of the Merger (the “Applicable Date”); provided however, that if the transactions contemplated by this Agreement have
not been consummated by the Applicable Date as a result of the failure to obtain the approvals and consents required under Sections 7.02(d) or (e), Purchaser shall have such additional time as may be necessary to obtain such approvals and consents
so long as Purchaser is diligently proceeding to obtain them but in no event later than ninety (90) days following the Applicable Date. 
     (e)       This Agreement may be terminated by Purchaser or Seller if the Merger has not been consummated by August 21, 2013. 

  
 20 

     (f)       Upon
the termination of this Agreement, Purchaser and Seller shall have no further rights, obligations or Liabilities to the other party arising out of or resulting from this Agreement or the Documents, except for those items that expressly survive
termination of this Agreement or the Documents. This Section 9.07(e) and Sections 6.01 (Publicity) and 10.08 (Governing Law) will survive any such termination. 

Section 9.08    Effect of Failure to Close on Venture
Agreement.    If any transaction contemplated by this Agreement does not close for any reason, including due to a default by Seller or Purchaser or their respective Affiliates or the failure of a condition to the Closing of
any such contemplated transaction, the same shall not have any effect on the Venture Agreement or any other documents, instrument and agreement existing with respect to the Facilities or the ownership thereof. 

Article X. 

MISCELLANEOUS 
 Section 10.01  Further Actions.  From time to time before, at and after the Closing, each party will execute and deliver such documents as reasonably requested by any other
party in order more effectively to consummate the transactions contemplated hereby, provided that such documents do not impose additional Liabilities on such party. 

Section 10.02  Consents under Venture Agreement.    Seller acknowledges that
the transactions contemplated hereunder may require the consent of Seller in accordance with the terms of the Venture Agreement, and the execution and delivery by Seller of this Agreement shall evidence any such required consent of Seller.

 Section 10.03  Notices.   All notices, demands or other communications
given hereunder shall be in writing and shall be sufficiently given if delivered by courier (including overnight delivery service) or sent by registered or certified mail, first class, postage prepaid, or by electronic mail or facsimile
(provided that an additional copy is delivered by one of the foregoing methods), addressed as follows: 
  

							
		 	(a)	 	If to Seller, to:	 	
				
		 		 	CHT SL IV Holding, LLC	 	
		 		 	450 South Orange Avenue, 12th Floor	 	
		 		 	Orlando, Florida 32801	 	
		 		 	Attn.:  Holly J. Greer, Esq.	 	
		 		 	Facsimile No:  407-540-2544	 	
		 		 	Email Address:  holly.greer@cnl.com	 	
		
	 with a copy to:
	 	
			
		 		 	Lowndes, Drosdick, Doster, Kantor & Reed, P.A.
		 		 	215 North Eola Drive	 	
		 		 	Orlando, Florida 32801	 	
		 		 	Attn.:  Peter E. Reinert, Esq.	 	
		 		 	Facsimile No:  407-843-4444	 	
		 		 	Email Address:  peter.reinert@lowndes-law.com

  
 21 

							
		 	(b)	 	If to Seller Parent, to:	 	
				
		 		 	CNL HEALTHCARE TRUST, INC.	 	
		 		 	450 South Orange Avenue, 12th Floor	 	
		 		 	Orlando, Florida 32801	 	
		 		 	Attn.: Holly J. Greer, Esq.	 	
		 		 	Facsimile No: 407-540-2544	 	
		 		 	Email Address:  holly.greer@cnl.com	 	
		
	 with a copy to:
	 	
			
		 		 	Lowndes, Drosdick, Doster, Kantor & Reed, P.A.
		 		 	215 North Eola Drive	 	
		 		 	Orlando, Florida 32801	 	
		 		 	Attn.:  Peter E. Reinert, Esq.	 	
		 		 	Facsimile No:  407-843-4444	 	
		 		 	Email Address:  peter.reinert@lowndes-law.com
				
		 	(c)	 	If to Purchaser, to:	 	
				
		 		 	Health Care REIT, Inc.	 	
		 		 	4500 Dorr Street	 	
		 		 	Toledo, Ohio 43615	 	
		 		 	Attn.:  Jeffrey H. Miller	 	
		 		 	Facsimile No:  419-247-2826	 	
		 		 	Email Address:  jmiller@hcreit.com	 	
		
	 with a copy to:
	 	
				
		 		 	Shumaker, Loop & Kendrick, LLP	 	
		 		 	1000 Jackson Street	 	
		 		 	Toledo, Ohio 43604	 	
		 		 	Attn.:  Gregory J. Shope	 	
		 		 	Facsimile No:  419-241-6894	 	
		 		 	Email Address:  gshope@slk-law.com	 	

 or such other address as a party may from time to time notify the other party in writing (as provided
above). Any such notice, demand or communication shall be deemed to have been given (i) if so mailed, as of the close of the fifth Business Day following the date so mailed, (ii) if delivered by courier, on the date received and
(iii) if sent by electronic mail or facsimile, on the date transmitted if during normal business hours of the recipient, and otherwise on the next Business Day of the recipient. 

Section 10.04  Entire Agreement.  This Agreement, the Exhibits and the other Documents
contain the entire understanding among the parties with respect to the subject matter hereof and are intended to be a full integration of all prior or contemporaneous agreements, conditions or

  
 22 

 
undertakings among the parties hereto. There are no promises, agreements, conditions, undertakings, warranties or representations, oral or written, express or implied, among the parties with
respect to the subject matter hereof other than as set forth in this Agreement and the Exhibits and other Documents. 
 Section 10.05  Not Construed Against Drafter.  This Agreement has been negotiated and prepared by the parties and their respective counsel, and should any provision of this
Agreement require judicial interpretation, the court interpreting or construing the provision shall not apply the rule of construction that a document is to be construed more strictly against one party. 

Section 10.06  Binding Effect; Benefits.    Except as otherwise provided
herein, this Agreement shall inure to the benefit of and be binding upon the parties hereto and their respective successors or permitted assigns. Except to the extent specified herein, nothing in this Agreement, express or implied, shall confer on
any person other than the parties hereto and their respective successors or permitted assigns any rights, remedies, obligations or liabilities under or by reason of this Agreement. 

Section 10.07  Assignment.    Neither this Agreement nor any of the rights,
interests or obligations hereunder may be assigned by any party without the prior written consent of the other parties, provided that Purchaser may assign all of its respective rights under this Agreement to an Affiliate, provided
further that (i) the representations and warranties of Purchaser shall be true and correct in all material respects as applied to the applicable assignee (with such immaterial modifications required to make such representations and
warranties true as to such assignee), (ii) Purchaser shall execute and deliver to Seller a written instrument in form and substance satisfactory to the parties, in their reasonable discretion, in which Purchaser and the assignee agree to be
jointly and severally liable for performance of all of the applicable assignee’s obligations under this Agreement, and (iii) Purchaser shall remain fully liable for its obligations under this Agreement. 

Section 10.08  Governing Law.   This Agreement shall in all respects be governed by
and construed in accordance with the laws of the State of Delaware without regard to its principles of conflicts of laws. 
 Section 10.09  Amendments and Waivers.   No term or provision of this Agreement may be amended, waived, discharged or terminated orally, but only by an instrument in
writing signed by the party against whom the enforcement of such amendment, waiver, discharge or termination is sought. Any waiver shall be effective only in accordance with its express terms and conditions. 

Section 10.10  Severability.  Any provision of this Agreement which is unenforceable in
any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such unenforceability without invalidating the remaining provisions hereof, and any such unenforceability in any jurisdiction shall not invalidate or render
unenforceable such provision in any other jurisdiction. To the extent permitted by applicable law, the parties hereto hereby waive any provision of law now or hereafter in effect which renders any provision hereof unenforceable in any respect.

  
 23 

 Section 10.11  Headings.    The
captions in this Agreement are for convenience of reference only and shall not define or limit any of the terms or provisions hereof. 
 Section 10.12  Counterparts.    This Agreement may be executed in any number of counterparts, and by any party on separate counterparts, each of which shall be an
original, and all of which together shall constitute one and the same instrument. 

Section 10.13  References.  All references in this Agreement to Articles and Sections are
to Articles and Sections contained in this Agreement unless a different document is expressly specified. 

Section 10.14  Exhibits.   Unless otherwise specified herein, each Exhibit referred
to in this Agreement is attached hereto, and each such Exhibit (other than Exhibits that are to be separately executed and delivered as Documents) is hereby incorporated by reference and made a part hereof as if fully set forth herein. 

Section 10.15  Attorneys’ Fees.   In the event any party brings an action to
enforce or interpret any of the provisions of this Agreement, the “prevailing party” in such action shall, in addition to any other recovery, be entitled to its reasonable attorneys’ fees and expenses arising from such action and any
appeal or any bankruptcy action related thereto, whether or not such matter proceeds to court. For purposes of this Agreement, “prevailing party” shall mean, in the case of a Person asserting a claim, such Person is successful in obtaining
substantially all of the relief sought, and in the case of a Person defending against or responding to a claim, such Person is successful in denying substantially all of the relief sought. 

Section 10.16  Waiver of Jury Trial.   EACH PARTY HEREBY WAIVES TRIAL BY JURY IN ANY
PROCEEDINGS BROUGHT BY ANY OTHER PARTY IN CONNECTION WITH ANY MATTER ARISING OUT OF OR IN ANY WAY CONNECTED WITH THE TRANSACTION, THIS AGREEMENT, SELLER’S INTEREST, THE FACILITIES OR THE RELATIONSHIP OF THE PARTIES HEREUNDER. THE PROVISIONS OF
THIS SECTION SHALL SURVIVE THE CLOSING (AND NOT BE MERGED THEREIN) OR ANY EARLIER TERMINATION OF THIS AGREEMENT. 
 Section 10.17  Facsimile and PDF Signatures.  Signatures to this Agreement transmitted by facsimile or by electronic mail in PDF format shall be valid and effective to bind
the party so signing. Each party agrees to promptly deliver an execution original to this Agreement with its actual signature to the other parties, but a failure to do so shall not affect the enforceability of this Agreement, it being expressly
agreed that each party to this Agreement shall be bound by its own facsimile signature or signature transmitted by electronic mail in PDF format and shall accept the facsimile signature or signature transmitted by electronic mail in PDF format of
each other party to this Agreement. 
 [SIGNATURES FOLLOW ON NEXT PAGE] 

  
 24 

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

					
	SELLER
	
	 CHT SL IV HOLDING, LLC, a Delaware limited liability company

			
	By:	 	 /s/ Kevin R. Maddron
	 	
	Name:	 	 Kevin R. Maddron
	 	
	Title:	 	 Senior Vice President
	 	

  
 [Signature
Page to Purchase and Sale Agreement] 

 
			
	PURCHASER
	
	 HEALTH CARE REIT, INC.,
 a Delaware corporation

		
	By:	 	 /s/ Erin C. Ibele

	Name:	 	 Erin C. Ibele

	Title:	 	Senior Vice President-Administration
		 	and Corporate Secretary

  
 [Signature
Page to Purchase and Sale Agreement] 

					
	SELLER PARENT
	
	 Executed solely for the purpose of acknowledging and agreeing to the indemnity by the undersigned set forth in
Section 9.04

	
	CNL HEALTHCARE TRUST, INC.
			
	By:	 	 /s/ Kevin R. Maddron
	 	
	Name:	 	 Kevin R. Maddron
	 	
	Title:	 	 Senior Vice President
	 	

  
 [Signature
Page to Purchase and Sale Agreement] 

 Exhibit A 
 Facilities; Facility Owners; Operating Tenants 
 [Intentionally Omitted]

  
 Exhibit B 

Form of Assignment and Assumption of Interest Agreement 
 [Intentionally Omitted] 
  
 Exhibit C 
 Purchase Price Calculation 

[Intentionally Omitted] 
  

Exhibit D 

Listing of Lender Releases 
 [Intentionally Omitted] 
  
 Exhibit E 
 Non-Foreign Status Affidavit 

[Intentionally Omitted] 
  

Exhibit F 

Transfer Tax Payment Allocation 
 [Intentionally Omitted]

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