Document:

Exhibit 10.21

 

NEMAC – Decatur, GA

 

PURCHASE AND SALE AGREEMENT

 

by and between

 

HUB NORTHEAST MEDICAL ARTS CENTER LLC

 

as Seller,

 

and

 

SENIOR HOUSING PROPERTIES TRUST,

 

as Purchaser

 

 

May 5, 2008

 

 

TABLE OF CONTENTS

 

	
  SECTION 1.

  	
  DEFINITIONS

  	
  1

  
	
  1.1.

  	
  “Agreement”

  	
  1

  
	
  1.2.

  	
  “Business Day”

  	
  1

  
	
  1.3.

  	
  “Closing”

  	
  1

  
	
  1.4.

  	
  “Closing Date”

  	
  1

  
	
  1.5.

  	
  “Existing Survey”

  	
  1

  
	
  1.6.

  	
  “Existing Title Policy”

  	
  2

  
	
  1.7.

  	
  “Improvements”

  	
  2

  
	
  1.8.

  	
  “Land”

  	
  2

  
	
  1.9.

  	
  “Leases”

  	
  2

  
	
  1.10.

  	
  “Loan”

  	
  2

  
	
  1.11.

  	
  “Mortgage Loan Documents”

  	
  2

  
	
  1.12.

  	
  “Other Property”

  	
  2

  
	
  1.13.

  	
  “Permitted Exceptions”

  	
  2

  
	
  1.14.

  	
  “Property”

  	
  3

  
	
  1.15.

  	
  “Purchase Price”

  	
  3

  
	
  1.16.

  	
  “Purchaser”

  	
  3

  
	
  1.17.

  	
  “Rent Roll”

  	
  3

  
	
  1.18.

  	
  “Seller”

  	
  3

  
	
  1.19.

  	
  “Title Company”

  	
  3

  
	
  1.20.

  	
  “Update”

  	
  3

  
	
   

  	
   

  	
   

  
	
  SECTION 2.

  	
  PURCHASE AND SALE; CLOSING.

  	
  3

  
	
  2.1.

  	
  Purchase and Sale.

  	
  3

  
	
  2.2.

  	
  Closing.

  	
  3

  
	
  2.3.

  	
  Purchase Price.

  	
  4

  
	
   

  	
   

  	
   

  
	
  SECTION 3.

  	
  TITLE, DILIGENCE MATERIALS, ETC.

  	
  4

  
	
  3.1.

  	
  Title.

  	
  4

  
	
  3.2.

  	
  No Other Diligence.

  	
  5

  
	
   

  	
   

  	
   

  
	
  SECTION 4.

  	
  CONDITIONS TO THE PURCHASER’S
  OBLIGATION TO CLOSE.

  	
  6

  
	
  4.1.

  	
  Closing Documents.

  	
  6

  
	
  4.2.

  	
  Loan Consent and Estoppel.

  	
  7

  
	
  4.3.

  	
  Title Policy.

  	
  7

  
	
  4.4.

  	
  Environmental Reliance Letters.

  	
  7

  
	
  4.5.

  	
  Condition of Property.

  	
  7

  
	
  4.6.

  	
  Other Conditions.

  	
  7

  
	
   

  	
   

  	
   

  
	
  SECTION 5.

  	
  CONDITIONS TO SELLER’S
  OBLIGATION TO CLOSE.

  	
  7

  
	
  5.1.

  	
  Purchase Price.

  	
  7

  
	
  5.2.

  	
  Closing Documents.

  	
  8

  
	
  5.3.

  	
  Loan Consent and Estoppel.

  	
  8

  
	
  5.4.

  	
  Other Conditions.

  	
  8

  
	
   

  	
   

  	
   

  
	
  SECTION 6.

  	
  REPRESENTATIONS AND WARRANTIES
  OF SELLER.

  	
  8

  
	
  6.1.

  	
  Status and Authority of the
  Seller, Etc.

  	
  8

  
	
  6.2.

  	
  Action of the Seller, Etc.

  	
  8

  
	
  6.3.

  	
  No Violations of Agreements.

  	
  8

  
	
  6.4.

  	
  Litigation.

  	
  9

  

 

i

 

	
  6.5.

  	
  Existing Leases, Etc.

  	
  9

  
	
  6.6.

  	
  Agreements, Etc.

  	
  10

  
	
  6.7.

  	
  Not a Foreign Person.

  	
  10

  
	
   

  	
   

  	
   

  
	
  SECTION 7.

  	
  REPRESENTATIONS AND WARRANTIES
  OF PURCHASER.

  	
  11

  
	
  7.1.

  	
  Status and Authority of the
  Purchaser.

  	
  12

  
	
  7.2.

  	
  Action of the Purchaser.

  	
  12

  
	
  7.3.

  	
  No Violations of Agreements.

  	
  12

  
	
  7.4.

  	
  Litigation.

  	
  12

  
	
   

  	
   

  	
   

  
	
  SECTION 8.

  	
  COVENANTS OF THE SELLER.

  	
  13

  
	
  8.1.

  	
  Approval of Agreements.

  	
  13

  
	
  8.2.

  	
  Operation of Property.

  	
  13

  
	
  8.3.

  	
  Compliance with Laws, Etc.

  	
  13

  
	
  8.4.

  	
  Compliance with Agreements.

  	
  13

  
	
  8.5.

  	
  Notice of Material Changes or
  Untrue Representations.

  	
  13

  
	
  8.6.

  	
  Insurance.

  	
  13

  
	
  8.7.

  	
  Cooperation for Loan Assumption.

  	
  13

  
	
   

  	
   

  	
   

  
	
  SECTION 9.

  	
  APPORTIONMENTS.

  	
  14

  
	
  9.1.

  	
  Real Property Apportionments.

  	
  14

  
	
  9.2.

  	
  Closing Costs.

  	
  16

  
	
   

  	
   

  	
   

  
	
  SECTION 10.

  	
  DAMAGE TO OR CONDEMNATION OF
  PROPERTY.

  	
  17

  
	
  10.1.

  	
  Casualty.

  	
  17

  
	
  10.2.

  	
  Condemnation.

  	
  17

  
	
  10.3.

  	
  Survival.

  	
  18

  
	
   

  	
   

  	
   

  
	
  SECTION 11.

  	
  DEFAULT.

  	
  18

  
	
  11.1.

  	
  Default by the Seller.

  	
  18

  
	
  11.2.

  	
  Default by the Purchaser.

  	
  18

  
	
   

  	
   

  	
   

  
	
  SECTION 12.

  	
  MISCELLANEOUS.

  	
  18

  
	
  12.1.

  	
  Allocation of Liability.

  	
  18

  
	
  12.2.

  	
  Brokers.

  	
  19

  
	
  12.3.

  	
  Publicity.

  	
  19

  
	
  12.4.

  	
  Notices.

  	
  19

  
	
  12.5.

  	
  Waivers, Etc.

  	
  21

  
	
  12.6.

  	
  Assignment; Successors and
  Assigns.

  	
  21

  
	
  12.7.

  	
  Severability.

  	
  21

  
	
  12.8.

  	
  Counterparts, Etc.

  	
  22

  
	
  12.9.

  	
  Performance on Business Days.

  	
  22

  
	
  12.10.

  	
  Attorneys’ Fees.

  	
  22

  
	
  12.11.

  	
  Section and Other Headings.

  	
  22

  
	
  12.12.

  	
  Time of Essence.

  	
  22

  
	
  12.13.

  	
  Governing Law.

  	
  22

  
	
  12.14.

  	
  Arbitration.

  	
  22

  
	
  12.15.

  	
  Like Kind Exchange.

  	
  23

  
	
  12.16.

  	
  Recording.

  	
  24

  
	
  12.17.

  	
  Limitation of Liability of
  Seller.

  	
  24

  

 

ii

 

	
  12.18.

  	
  Non-liability of Trustees of
  Purchaser.

  	
  24

  
	
  12.19.

  	
  Waiver and Further Assurances.

  	
  25

  

 

iii

 

PURCHASE AND SALE AGREEMENT

 

THIS PURCHASE AND SALE AGREEMENT
is made as of May 5, 2008, by and between HUB NORTHEAST MEDICAL ARTS CENTER LLC, a Delaware limited
liability company (the “Seller”), and SENIOR
HOUSING PROPERTIES TRUST, a Maryland real estate investment trust
(the “Purchaser”).

 

WITNESSETH:

 

WHEREAS, the Seller
is the owner of the Property (this and other capitalized terms used and not
otherwise defined herein shall have the meanings given such terms in Section 1);
and

 

WHEREAS, the Seller wishes to sell to the
Purchaser, and the Purchaser desires to purchase from the Seller, the Property,
subject to and upon the terms and conditions hereinafter set forth;

 

NOW, THEREFORE, in
consideration of the mutual covenants herein contained and other good and
valuable consideration, the mutual receipt and legal sufficiency of which are
hereby acknowledged, the Seller and the Purchaser hereby agree as follows:

 

SECTION 1.         DEFINITIONS.

 

Capitalized terms used in this Agreement
shall have the meanings set forth below or in the section of this Agreement
referred to below:

 

1.1.                  “Agreement”  shall mean this Purchase and Sale Agreement,
together with any exhibits and schedules attached hereto, as it and they may be
amended from time to time as herein provided.

 

1.2.                  “Business Day”  shall mean any day other than a Saturday,
Sunday or any other day on which banking institutions in The Commonwealth of
Massachusetts are authorized by law or executive action to close.

 

1.3.                  “Closing”  shall have the meaning given such term in Section 2.2.

 

1.4.                  “Closing Date”  shall have the meaning given such term in Section 2.2.

 

1.5.                  “Existing Survey”  shall mean the existing ALTA
survey of the Property.

 

 

1.6.                  “Existing Title Policy”  shall mean, the
existing title insurance policy for the Property.

 

1.7.                  “Improvements”  shall mean, the Seller’s entire
right, title and interest in and to the existing office buildings, fixtures and
other structures and improvements situated on, or affixed to, the Land.

 

1.8.                  “Land”  shall mean, the Seller’s entire right, title
and interest in and to (a) the parcel(s) of land described in Schedule
A hereto, together with (b) all easements, rights of way, privileges,
licenses and appurtenances which the Seller may own with respect thereto.

 

1.9.                  “Leases”  shall mean the leases identified in the Rent
Roll and any other leases hereafter entered into in accordance with the terms
of this Agreement.

 

1.10.                “Loan”  shall mean, a mortgage loan in the original
principal amount of $4,800,000, made by Union Capital Investments, LLC, with
respect to the Property.

 

1.11.                “Mortgage Loan Documents”  shall mean, with respect to the Loan,
collectively, the promissory note, mortgage and security agreement, assignment
of leases and rents, environmental indemnity and other documents and
instruments executed and delivered in connection therewith.

 

1.12.                “Other Property”  shall mean the Seller’s entire
right, title and interest in and to (a) all fixtures, machinery, systems,
equipment and items of personal property owned by the Seller and attached or
appurtenant to, located on and used in connection with the ownership, use,
operation or maintenance of the Land or Improvements, if any, and (b) all
intangible property owned by the Seller arising from or used in connection with
the ownership, use, operation or maintenance of the Land or Improvements, if
any.

 

1.13.                “Permitted Exceptions”  shall mean, collectively, (a) liens for
taxes, assessments and governmental charges not yet due and payable or due and
payable but not yet delinquent; (b) the Leases; (c) the exceptions to
title set forth in the Existing Title Policy; (d) all matters shown on the
Existing Survey, and (e) such other nonmonetary encumbrances with respect
to the Property as may be shown on the Update which are not objected to by the
Purchaser (or which are objected to, and subsequently waived, by the Purchaser)
in accordance with Section 3.1.

 

2

 

1.14.                “Property”  shall mean, collectively, all of the Land,
the Improvements and the Other Property.

 

1.15.                “Purchase Price”  shall mean Eight Million Two Hundred Seven
Thousand, Six Hundred and thirty-three Dollars ($8,207,633).

 

1.16.                “Purchaser”  shall have the meaning given such term in the
preambles to this Agreement, together with any permitted successors and
assigns.

 

1.17.                “Rent Roll”  shall mean Schedule B to this
Agreement.

 

1.18.                “Seller”  shall have the meaning given such term in the
preambles to this Agreement, together with any permitted successors and
assigns.

 

1.19.                “Title Company”  shall mean Lawyers Title Insurance
Corporation.

 

1.20.                “Update”  shall have the meaning given such
term in Section 3.1.

 

SECTION 2.         PURCHASE
AND SALE; CLOSING.

 

2.1.                  Purchase and Sale.  In consideration of the payment of the
Purchase Price by the Purchaser to the Seller and for other good and valuable
consideration, the Seller hereby agrees to sell to the Purchaser, and the
Purchaser hereby agrees to purchase from the Seller, the Property for the
Purchase Price, subject to and in accordance with the terms and conditions of
this Agreement.

 

2.2.                  Closing.  The purchase and sale of the Property shall
be consummated at a closing (the “Closing”) to be held at the offices of
Sullivan & Worcester LLP, One Post Office Square, Boston,
Massachusetts, or at such other location as the Seller and the Purchaser may
agree, at 10:00 a.m., local time, on September 18, 2008 as the same
may be accelerated pursuant to this Section 2.2 (the “Closing Date”).

 

Notwithstanding the foregoing, either party
may accelerate the Closing Date by giving not less than ten (10) Business
Days prior written notice (an “Acceleration Notice”) to the other, in
which event the Closing Date shall be the date set forth in such Acceleration
Notice unless the party receiving the Acceleration Notice gives written notice
objecting to the accelerated date 

 

3

 

set forth in the Acceleration Notice (a “Rejection
Notice”) to the other within five (5) Business Days after its receipt
of the Acceleration Notice, in which event, the Closing Date shall not be
accelerated but shall occur as set forth in the preceding paragraph; provided,
however, that the Seller shall have the right to give a Rejection Notice
only if the acceleration of the Closing Date will adversely effect the Seller’s
ability to conclude a like kind exchange pursuant to Section 12.15,
and the Purchaser shall have the right to give a Rejection Notice only if the
Purchaser determines, in its reasonable discretion, that the Purchaser does
not, or will not, have adequate funds to close on the accelerated Closing Date.

 

2.3.                  Purchase Price.

 

(a)           At
Closing, the Purchaser shall pay the Purchase Price to the Seller, subject to
the following adjustments:

 

(i)                       There shall
be added to, or deducted from, the Purchase Price such amounts as may be
required by Article 9; and

 

(ii)                    There shall be
deducted from the Purchase Price the outstanding principal balance of the Loan.

 

(b)           At
Closing, the Purchaser shall assume all of the obligations with respect to the
Loan and Mortgage Loan Documents, including, but not limited to, the full
repayment of the outstanding principal balance of the Loan.

 

(c)           The Purchase Price, as adjusted as provided
herein, shall be payable by wire transfer of immediately available funds on the
Closing Date to an account or accounts to be designated by the Seller.

 

SECTION 3.         TITLE,
DILIGENCE MATERIALS, ETC.

 

3.1.                  Title.  Prior to the execution of this Agreement, the
Seller has delivered the Existing Title Policy and the Existing Survey to the
Purchaser.

 

Within ten (10) days after the execution
hereof, the Purchaser shall order an update to the Existing Title Policy (an “Update”)
from the Title Company.  The Purchaser
shall deliver to the Seller a copy of the Update promptly upon receipt
thereof.  Promptly after receipt of the
Update, but, in any event, prior to the Closing Date, the Purchaser shall give
the 

 

4

 

Seller written notice of any title exceptions
(other than Permitted Exceptions) set forth on the Update as to which the
Purchaser objects.  The Seller shall have
the right, but not the obligation, to attempt to remove, satisfy or otherwise
cure any exceptions to title to which the Purchaser so objects.  If, for any reason, in its sole discretion,
the Seller is unable or unwilling to take such actions as may be required to
cause such exceptions to be removed from the Update, the Seller shall give the
Purchaser notice thereof; it being understood and agreed that the failure of
the Seller to give prompt notice of objection shall be deemed an election by
the Seller not to remedy such matters. 
If the Seller shall be unable or unwilling to remove any title defects
to which the Purchaser has so objected, the Purchaser may elect (i) to
terminate this Agreement or (ii) to consummate the transactions
contemplated hereby, notwithstanding such title defect, without any abatement
or reduction in the Purchase Price on account thereof (whereupon such objected
to exceptions or matters shall be deemed to be Permitted Exceptions).  The Purchaser shall make any such election by
written notice to the  Seller given on or
prior to the fifth (5th) Business Day after the Seller’s notice of
its unwillingness or inability to cure (or deemed election not to cure) such
defect and time shall be of the essence with respect to the giving of such
notice.  Failure of the Purchaser to give
such notice shall be deemed an election by the Purchaser to proceed in
accordance with clause (ii) above.

 

3.2.                  No Other Diligence.  The Purchaser acknowledges that, except
as provided in Section 3.1, (i) the Purchaser has had the
opportunity to fully investigate and inspect the physical and environmental
condition of the Property, and to review and analyze all title examinations,
surveys, environmental assessment reports, building evaluations, financial data
and other investigations and materials pertaining to the Property which the
Purchaser deems necessary to determine the feasibility of the Property and its
decision to acquire the Property, (ii) the Purchaser shall not be
conducting any further title examinations, surveys, environmental assessments,
building evaluations, financial analyses or other investigations with respect
to the Property, and (iii) the Purchaser shall not have any right to
terminate this Agreement as a result of any title examinations, surveys,
environmental assessments, building valuations, financial analyses or other
investigations with respect to the Property.

 

5

 

SECTION 4.         CONDITIONS
TO THE PURCHASER’S OBLIGATION TO CLOSE.

 

The obligation
of the Purchaser to acquire the Property shall be subject to the satisfaction
of the following conditions precedent on and as of the Closing Date:

 

4.1.                  Closing Documents.  The Seller shall have delivered, or cause to
have been delivered, to the Purchaser the following:

 

(a)           A
good and sufficient deed in the form attached as Schedule C hereto, with
respect to the Property, in proper statutory form for recording, duly executed
and acknowledged by the Seller, conveying title to the Property, free from all
liens and encumbrances other than the Permitted Exceptions;

 

(b)           An
assignment by the Seller and an assumption by the Purchaser, in form and
substance reasonably satisfactory to the Seller and the Purchaser, duly
executed and acknowledged by the Seller and the Purchaser, of all of the Seller’s
right, title and interest in, to and under the Leases and all of the Seller’s
right, title and interest, if any, in, to and under all transferable licenses,
contracts, permits and agreements affecting the Property;

 

(c)           A bill of sale by the
Seller, without warranty of any kind, in form and substance reasonably
satisfactory to the Seller and the Purchaser, with respect to any personal
property owned by the Seller, situated at the Property and used exclusively by
the Seller in connection with the Property (it being understood and agreed that
no portion of the Purchase Price is allocated to personal property);

 

(d)           To
the extent the same are in the Seller’s possession, original, fully executed
copies of all material documents and agreements, plans and specifications and
contracts, licenses and permits pertaining to the Property;

 

(e)           To
the extent the same are in the Seller’s possession, duly executed original
copies of the Leases;

 

(f)            A
closing statement showing the Purchase Price, apportionments and fees, and
costs and expenses paid in connection with the Closing; and

 

(g)           Such
other conveyance documents, certificates, deeds and other instruments as the
Purchaser, the Seller or the Title Company may reasonably require and as are
customary in like 

 

6

 

transactions in sales of property in similar
transactions.

 

4.2.                  Loan Consent and Estoppel.  The Purchaser
shall have obtained a loan consent and estoppel certificate, in form and
substance reasonably satisfactory to the Purchaser and the Seller (and
specifically including, without limitation, releases of any guarantor or
indemnitor of the Seller of any obligation with respect to the Loan arising
from and after the Closing Date and, in connection therewith, providing
satisfactory substitute guarantors and indemnitors), dated within thirty (30)
days prior to the Closing Date, with respect to the Loan.

 

4.3.                  Title Policy.  The Title Company shall be prepared to
issue, upon payment of the title premium at its regular rates, a title policy
in the amount of the Purchase Price, insuring title to the Property is vested
in the Purchaser or its designee or assignee, subject only to the Permitted
Exceptions, with such endorsements as shall be reasonably required by the
Purchaser.

 

4.4.                  Environmental Reliance Letters.  The Purchaser shall have received a reliance letter, authorizing the Purchaser and
its designees and assignees to rely on the most recent environmental assessment
report prepared for the Property, in form and substance reasonably acceptable
to the Purchaser.

 

4.5.                  Condition of Property.  The Property shall be in substantially
the same physical condition as on the date of this Agreement, ordinary wear and
tear and, subject to Section 10.1, casualty excepted.

 

4.6.                  Other Conditions.  All representations and warranties of the
Seller herein shall be true, correct and complete in all material respects on
and as of the Closing Date and the Seller shall have performed in all material
respects all covenants and obligations required to be performed by the Seller
on or before the Closing Date.

 

SECTION 5.         CONDITIONS TO SELLER’S OBLIGATION TO CLOSE.

 

The obligation
of the Seller to convey the Property to the Purchaser is subject to the
satisfaction of the following conditions precedent on and as of the Closing
Date:

 

5.1.                  Purchase Price.  The Purchaser shall deliver to the Seller the
Purchase Price payable hereunder, subject to the adjustments set forth in Section 2.3,
together with any closing costs to be paid by the Purchaser under Section 9.2.

 

7

 

5.2.                  Closing Documents.  The Purchaser shall have delivered to the Seller
duly executed and acknowledged counterparts of the documents described in Section 4.1,
where applicable.

 

5.3.                  Loan Consent and Estoppel.  The
Purchaser shall have obtained a loan consent and estoppel certificate, in form
and substance reasonably satisfactory to the Purchaser and the Seller (and
specifically including, without limitation, releases of any guarantor or
indemnitor of the Seller of any obligation with respect to the Loan arising
from and after the Closing Date and, in connection therewith, providing
satisfactory substitute guarantors and indemnitors), dated within thirty (30)
days prior to the Closing Date, with respect to the Loan.

 

5.4.                  Other Conditions.  All representations and warranties of the
Purchaser herein shall be true, correct and complete in all material respects
on and as of the Closing Date and the Purchaser shall have performed in all
material respects all covenants and obligations required to be performed by the
Purchaser on or before the Closing Date.

 

SECTION 6.         REPRESENTATIONS AND WARRANTIES OF SELLER.

 

To induce the
Purchaser to enter into this Agreement, the Seller represents and warrants to
the Purchaser as follows:

 

6.1.                  Status and Authority of the Seller, Etc.  The Seller is duly organized, validly
existing and in good standing under the laws of its state of organization or
formation, and has all requisite power and authority under its charter
documents to enter into and perform its obligations under this Agreement and to
consummate the transactions contemplated hereby.

 

6.2.                  Action of the Seller, Etc.  The Seller has taken all necessary action to
authorize the execution, delivery and performance of this Agreement, and upon
the execution and delivery of any document to be delivered by the Seller on or
prior to the Closing Date, this Agreement and such document shall constitute
the valid and binding obligation and agreement of the Seller, enforceable
against the Seller in accordance with its terms, except as enforceability may
be limited by bankruptcy, insolvency, reorganization, moratorium or similar
laws of general application affecting the rights and remedies of creditors.

 

6.3.                  No Violations of Agreements.  Neither the execution, delivery or
performance of this Agreement by the Seller, nor 

 

8

 

compliance with the terms and provisions hereof, will result in any
breach of the terms, conditions or provisions of, or conflict with or
constitute a default under, or result in the creation of any lien, charge or
encumbrance upon the Property pursuant to the terms of any indenture, mortgage,
deed of trust, note, evidence of indebtedness or any other agreement or
instrument by which the Seller is bound.

 

6.4.                  Litigation.  To the Seller’s actual knowledge, it has not
received written notice that any investigation, action or proceeding is pending
or threatened, which (i) questions the validity of this Agreement or any
action taken or to be taken pursuant hereto, or (ii) involves condemnation
or eminent domain proceedings against the Property or any portion thereof.

 

6.5.                  Existing Leases, Etc.  Subject to Section 8.1, other
than the Leases listed in the Rent Roll, the Seller has not entered into a
contract or agreement with respect to the occupancy of the Property that will
be binding on the Purchaser after the Closing. 
To the Seller’s actual knowledge: (a) the copies of the Leases
heretofore delivered by the Seller to the Purchaser are true, correct and
complete copies thereof; and (b) such Leases have not been amended except
as evidenced by amendments similarly delivered and constitute the entire
agreement between the Seller and the tenants thereunder.  Except as otherwise set forth in the Rent
Roll or the Leases: (i) to the Seller’ actual knowledge, each of its
Leases is in full force and effect on the terms set forth therein; (ii) to
the Seller’s actual knowledge, there are no uncured defaults or circumstances
which with the giving of notice, the passage of time or both would constitute a
default thereunder which would have a material adverse effect on the business
or operations of the Property; (iii) to the Seller’s actual knowledge,
each of its tenants is legally required to pay all sums and perform all
material obligations set forth therein without any ongoing concessions,
abatements, offsets, defenses or other basis for relief or adjustment; (iv) to
the Seller’s actual knowledge, none of its tenants has asserted in writing or
has any defense to, offsets or claims against, rent payable by it or the
performance of its other obligations under its Lease which would have a
material adverse effect on the on-going business or operations of the Property;
(v) the Seller has no outstanding obligation to provide any of its tenants
with an allowance to perform, or to perform at its own expense, any tenant
improvements; (vi) none of its tenants has prepaid any rent or other
charges relating to the post-Closing period; (vii) to the Seller’s actual
knowledge, none of its tenants has filed a 

 

9

 

petition in bankruptcy or for the approval of a plan of reorganization
or management under the Federal Bankruptcy Code or under any other similar
state law, or made an admission in writing as to the relief therein provided,
or otherwise become the subject of any proceeding under any federal or state
bankruptcy or insolvency law, or has admitted in writing its inability to pay
its debts as they become due or made an assignment for the benefit of
creditors, or has petitioned for the appointment of or has had appointed a
receiver, trustee or custodian for any of its property, in any case that would
have a material adverse effect on the business or operations of the Property; (viii) to
the Seller’s actual knowledge, none of its tenants has requested in writing a
modification of its Lease, or a release of its obligations under its Lease in
any material respect or has given written notice terminating its Lease, or has
been released of its obligations thereunder in any material respect prior to
the normal expiration of the term thereof, in any case that would have a
material adverse effect on the on-going business or operations of the Property;
(ix) to the Seller’s actual knowledge, except as set forth in the Leases,
no guarantor has been released or discharged, voluntarily or involuntarily, or
by operation of law, from any obligation under or in connection with any of its
Leases or any transaction related thereto; and (x) all brokerage
commissions currently due and payable with respect to each of its Leases have
been paid.  To the Seller’s actual
knowledge, the other information set forth in the Rent Roll is true, correct
and complete in all material respects.

 

6.6.                  Agreements, Etc.  Other than the Leases, the Seller has not
entered into any contract or agreement with respect to the Property which will
be binding on the Purchaser after the Closing other than contracts and
agreements being assumed by the Purchaser or which are terminable upon thirty
(30) days notice without payment of premium or penalty.

 

6.7.                  Not a Foreign Person.  The Seller is not a “foreign person” within
the meaning of Section 1445 of the United States Revenue Code of 1986, as
amended, and the regulations promulgated thereunder.

 

The
representations and warranties made in this Agreement by the Seller shall be
continuing and shall be deemed remade by the Seller as of the Closing Date,
with the same force and effect as if made on, and as of, such date.  All representations and warranties made in
this Agreement by the Seller shall survive the Closing for a period of three
hundred sixty (360) days, and upon expiration shall be of no further force or
effect 

 

10

 

except to the
extent that with respect to any particular alleged breach, the Purchaser gives
the Seller written notice prior to the expiration of said three hundred sixty
(360) day period of such alleged breach with reasonable detail as to the nature
of such breach.

 

Except as
otherwise expressly provided in this Agreement or in any documents to be
delivered to the Purchaser at the Closing, the Seller has not made, and the
Purchaser has not relied on, any information, promise, representation or
warranty, express or implied, regarding the Property, whether made by the
Seller, on the Seller’s behalf or otherwise, including, without limitation, the
physical condition of the Property, the financial condition of the tenants
under the Leases, title to or the boundaries of the Property, pest control
matters, soil conditions, the presence, existence or absence of hazardous
wastes, toxic substances or other environmental matters, compliance with
building, health, safety, land use and zoning laws, regulations and orders,
structural and other engineering characteristics, traffic patterns, market
data, economic conditions or projections, and any other information pertaining
to the Property or the market and physical environments in which they are
located.  The Purchaser acknowledges that
(i) the Purchaser has entered into this Agreement with the intention of
relying upon its own investigation or that of third parties with respect to the
physical, environmental, economic and legal condition of the Property and (ii) the
Purchaser is not relying upon any statements, representations or warranties of
any kind, other than those specifically set forth in this Agreement or in any
document to be delivered to the Purchaser at the Closing, made (or purported to
be made) by the Seller or anyone acting or claiming to act on the Seller’s
behalf.  The Purchaser has inspected the
Property and is fully familiar with the physical condition thereof and shall
purchase the Property in its “as is”, “where is” and “with all faults”
condition on the Closing Date. 
Notwithstanding anything to the contrary contained herein, in the event
that any party hereto has actual knowledge of the default of any other party (a
“Known Default”), but nonetheless elects to consummate the transactions
contemplated hereby and proceeds to Closing, then the rights and remedies of
such non-defaulting party shall be waived with respect to such Known Default
upon the Closing and the defaulting party shall have no liability with respect
thereto.

 

SECTION 7.         REPRESENTATIONS AND WARRANTIES OF PURCHASER.

 

To induce the
Seller to enter into this Agreement, the Purchaser represents and warrants to
the Seller as follows:

 

11

 

7.1.                  Status and Authority of the Purchaser.  The Purchaser is duly organized, validly
existing and in good standing under the laws of its state of organization or formation,
and has all requisite power and authority under its charter documents to enter
into and perform its obligations under this Agreement and to consummate the
transactions contemplated hereby.

 

7.2.                  Action of the Purchaser.  The Purchaser has taken all necessary action
to authorize the execution, delivery and performance of this Agreement, and
upon the execution and delivery of any document to be delivered by the
Purchaser on or prior to the Closing Date, this Agreement and such document
shall constitute the valid and binding obligation and agreement of the
Purchaser, enforceable against the Purchaser in accordance with its terms,
except as enforceability may be limited by bankruptcy, insolvency,
reorganization, moratorium or similar laws of general application affecting the
rights and remedies of creditors.

 

7.3.                  No Violations of Agreements.  Neither the execution, delivery or
performance of this Agreement by the Purchaser, nor compliance with the terms
and provisions hereof, will result in any breach of the terms, conditions or
provisions of, or conflict with or constitute a default under, or result in the
creation of any lien, charge or encumbrance upon any property or assets of the
Purchaser pursuant to the terms of any indenture, mortgage, deed of trust,
note, evidence of indebtedness or any other agreement or instrument by which
the Purchaser is bound.

 

7.4.                  Litigation.  The Purchaser has received no written notice
that any investigation, action or proceeding is pending or threatened which
questions the validity of this Agreement or any action taken or to be taken
pursuant hereto.

 

The representations and warranties made in
this Agreement by the Purchaser shall be continuing and shall be deemed remade
by the Purchaser as of the Closing Date with the same force and effect as if
made on, and as of, such date.  All
representations and warranties made in this Agreement by the Purchaser shall
survive the Closing for a period of three hundred sixty (360) days, and upon
expiration shall be of no further force or effect except to the extent that
with respect to any particular alleged breach, the Seller gives the Purchaser
written notice prior to the expiration of said three hundred sixty (360) period
of such alleged breach with reasonable detail as to the nature of such breach.

 

12

 

SECTION 8.         COVENANTS OF THE SELLER.

 

The Seller
hereby covenants with the Purchaser between the date of this Agreement and the
Closing Date as follows:

 

8.1.                  Approval of Agreements.  Not to enter into, modify, amend or terminate
any Lease or any other material agreement with respect to the Property, which
would encumber or be binding upon the Property from and after the Closing Date,
without in each instance obtaining the prior written consent of the Purchaser.

 

8.2.                  Operation of Property.  To continue to operate the Property
consistent with past practices.

 

8.3.                  Compliance with Laws, Etc.  To comply in all material respects with (i) all laws, regulations and other requirements
from time to time applicable of every governmental body having jurisdiction of
the Property, or the use or occupancy thereof, and (ii) all
material terms, covenants and conditions of all agreements affecting the
Property.

 

8.4.                  Compliance with Agreements.  To comply with each and every material term,
covenant and condition contained in the Leases and any other material document
or agreement affecting the Property and to monitor compliance thereunder
consistent with past practices.

 

8.5.                  Notice of Material Changes or Untrue
Representations.  Upon
learning of any material change in any condition with respect to the Property
or of any event or circumstance which makes any representation or warranty of
the Seller to the Purchaser under this Agreement untrue or misleading, promptly
to notify the Purchaser thereof.

 

8.6.                  Insurance.  To maintain, or cause to be maintained, all
existing property insurance relating to the Property.

 

8.7.                  Cooperation for Loan Assumption.  The
Purchaser and the Seller hereby acknowledge and agree that it is their mutual
intent that the Purchaser will assume the Mortgage Loan Documents and any and
all outstanding obligations with respect to the Loan encumbering the
Property.  The Purchaser and the Seller
shall reasonably cooperate to cause the Mortgage Loan Documents and all the
obligations under the Loan arising from and after the Closing Date to be
assumed by the Purchaser and to cause the Seller and any guarantor or
indemnitor of the Seller to be released from any obligation with respect thereto.

 

13

 

 

SECTION 9.                            APPORTIONMENTS.

 

9.1.                              Real Property Apportionments.    (a) 
The following items shall be apportioned at the Closing as of the close of
business on the day immediately preceding the Closing Date:

 

(i)                                     annual rents,
operating costs, taxes and other fixed charges payable under the Leases;

 

(ii)                                  percentage rents and
other unfixed charges payable under the Leases;

 

(iii)                               fuel, electric, water
and other utility costs;

 

(iv)                              municipal assessments and
governmental license and permit fees;

 

(v)                                 Real estate taxes and
assessments other than special assessments, based on the rates and assessed
valuation applicable in the fiscal year for which assessed;

 

(vi)                              Water rates and charges;

 

(vii)                           Sewer and vault taxes and
rents; and

 

(viii)                        all other items of income and
expense normally apportioned in sales of property in similar situations in the
jurisdiction where the Property is located.

 

If any of the foregoing cannot be apportioned
at the Closing because of the unavailability of the amounts which are to be
apportioned, such items shall be apportioned on the basis of a good faith
estimate by the parties and reconciled as soon as practicable after the Closing
Date but, in any event, no later than one (1) year after the Closing Date.

 

(b)                                 If there are water,
gas or electric meters located at the Property, the Seller shall obtain
readings thereof to a date not more than thirty (30) days prior to the Closing
Date and the unfixed water rates and charges, sewer taxes and rents and gas and
electricity charges, if any, based thereon for the intervening time shall be
apportioned on the basis of such last readings. If such readings are not
obtainable by the Closing Date, then, at the Closing, any water rates and
charges, sewer taxes and rents and gas and electricity charges which are based
on such readings shall be prorated based upon the per diem 

 

14

 

charges obtained by using the most recent
period for which such readings shall then be available. Upon the taking of
subsequent actual readings, the apportionment of such charges shall be
recalculated and the Seller or the Purchaser, as the case may be, promptly
shall make a payment to the other based upon such recalculations. The parties
agree to make such final recalculations within sixty (60) days after the
Closing Date.

 

(c)                                  If any refunds of
real property taxes or assessments, water rates and charges or sewer taxes and
rents shall be made after the Closing, the same shall be held in trust by the
Seller or the Purchaser, as the case may be, and shall first be applied to the
unreimbursed costs incurred in obtaining the same, then to any required refunds
to tenants under the Leases, and the balance, if any, shall be paid to the
Seller (for the period prior to the Closing Date) and to the Purchaser (for the
period commencing with the Closing Date).

 

(d)                                 If, on the Closing
Date, the Property shall be or shall have been affected by any special or
general assessment or assessments or real property taxes payable in a lump sum
or which are or may become payable in installments of which the first
installment is then a charge or lien and has become payable, the Seller shall
pay or cause to be paid at the Closing the unpaid installments of such
assessments due and as of the Closing Date.

 

(e)                                  No insurance policies
of the Seller are to be transferred to the Purchaser, and no apportionment of
the premiums therefor shall be made.

 

(f)                                    At the Closing, the
Seller shall transfer to the Purchaser the amount of all unapplied security
deposits held pursuant to the terms of the Leases.

 

(g)                                 Brokerage commissions,
tenant improvement expenses and other amounts payable by the Seller as landlord
under Leases entered into by the Seller after the date hereof, or in connection
with the renewal or extension of any existing Lease, shall be the
responsibility of the Purchaser, and the Purchaser shall reimburse the Seller
at the Closing for all such brokerage commissions, tenant improvement expenses
and other amounts paid by the Seller prior to the Closing. The Purchaser shall
receive a credit at Closing for all unpaid brokerage commissions, tenant
improvement expenses and other amounts payable by the Seller as landlord under
Leases entered into by the Seller prior to the date hereof.

 

15

 

(h)                                 Amounts payable after
the date hereof on account of capital expenditures under the 2008 capital
expenditure budget prepared as of March 31, 2008 (the “CapEx Budget”)
(including, without limitation, budgeted items for “building improvements” and “development
and redevelopment”), shall be the responsibility of the Purchaser, and the
Purchaser shall reimburse the Seller at the Closing for all amounts paid by the
Seller prior to the Closing on account of capital expenditures under the CapEx
Budget payable after the date hereof. The Purchaser shall receive a credit at
Closing for all unpaid amounts payable on account of capital expenditures under
the CapEx Budget prior to the date hereof. A copy of the CapEx Budget has been
previously provided to the Purchaser.

 

(i)                                     If a net amount is
owed by the Seller to the Purchaser pursuant to this Section 9.1,
such amount shall be credited against the Purchase Price. If a net amount is
owed by the Purchaser to the Seller pursuant to this Section 9.1,
such amount shall be added to the Purchase Price paid to the Seller.

 

(j)                                     If, on the Closing
Date, there are past due rents with respect to any Lease, amounts received by
the Purchaser with respect to such Lease after the Closing Date shall be applied,
first, to rents due or to become due during the calendar month in which
the Closing occurs, and then, to all other rents due or past due in
inverse order to the order in which they became due (i.e., first to
arrearages most recently occurring, then to older arrearages). In no event
shall the Seller have any right to take any action to collect any past due
rents or other amounts following the Closing; provided, however,
the Purchaser shall use commercially reasonable efforts to collect such past
due rents and other amounts, except that the Purchaser shall have no obligation
to institute any legal action or proceeding or otherwise enforce any of its
rights and remedies under any Lease in connection with such commercially
reasonable efforts.

 

The provisions of this Section 9.1
shall survive the Closing.

 

9.2.                              Closing Costs.

 

(a)                                  The Purchaser shall
pay (i) the costs of closing and diligence in connection with the
transactions contemplated hereby (including, without limitation, all premiums,
charges and fees of the Title Company in connection with the title examination
and insurance policies to be obtained by the Purchaser, including affirmative
endorsements), (ii) all documentary, stamp, sales, intangible and other
transfer taxes 

 

16

 

and fees incurred in connection with the
transactions contemplated by this Agreement, (iii) all state, city,
county, municipal and other governmental recording and filing fees and charges,
and (iv) all fees, costs and expenses incurred in connection with any loan
assumption and/or prepayment in connection with the consummation of the
transactions contemplated by this Agreement.

 

(b)                                 Each party shall pay
the fees and expenses of its attorneys and other consultants.

 

SECTION 10.                     DAMAGE TO OR CONDEMNATION OF
PROPERTY.

 

10.1.                        Casualty.    If,
prior to the Closing, the Property is 
materially destroyed or damaged by fire or other casualty, the Seller
shall promptly notify the Purchaser of such fact. In such event, the Purchaser
shall have the right to terminate this Agreement by giving notice to the Seller
not later than ten (10) days after the giving the Seller’s notice (and, if
necessary, the Closing Date shall be extended until one day after the
expiration of such ten-day period). If the Purchaser elects to terminate this
Agreement as aforesaid, this Agreement shall terminate and be of no further
force and effect and no party shall have any liability to the other hereunder. If
less than a material part of the Property shall be affected by fire or other
casualty or if the Purchaser shall not elect to terminate this Agreement as
aforesaid, there shall be no abatement of the Purchase Price and the Seller
shall assign to the Purchaser at the Closing the rights of the Seller to the
proceeds, if any, under the Seller’s insurance policies covering the Property
with respect to such damage or destruction and there shall be credited against
the Purchase Price the amount of any deductible, any proceeds previously
received by Seller on account thereof and any deficiency in proceeds.

 

10.2.                        Condemnation.    If,
prior to the Closing, a material part of the Property (including access or
parking thereto), is taken by eminent domain (or is the subject of a pending
taking which has not yet been consummated), the Seller shall notify the
Purchaser of such fact promptly after obtaining knowledge thereof and the
Purchaser shall have the right to terminate this Agreement by giving notice to
the Seller not later than ten (10) days after the giving of the Seller’s
notice (and, if necessary, the Closing Date shall be extended until one day
after the expiration of such ten-day period). If the Purchaser elects to
terminate this Agreement as aforesaid, this Agreement shall terminate and be of
no further force and effect and no party shall have any liability to the other
hereunder. If less than a 

 

17

 

material part of the Property shall be
affected or if the Purchaser shall not elect to terminate this Agreement as
aforesaid, the sale of the Property shall be consummated as herein provided
without any adjustment to the Purchase Price (except to the extent of any
condemnation award received by the Seller prior to the Closing) and the Seller
shall assign to the Purchaser at the Closing all of the Seller’s right, title
and interest in and to all awards, if any, for the taking, and the Purchaser
shall be entitled to receive and keep all awards for the taking of the Property
or portion thereof.

 

10.3.                        Survival.    The
parties’ obligations, if any, under this Section 10 shall survive
the Closing.

 

SECTION 11.                     DEFAULT.

 

11.1.                        Default by the Seller.    If
the transaction herein contemplated fails to close as a result of the default
of the Seller hereunder, or the Seller having made any representation or
warranty herein which shall be untrue or misleading in any material respect, or
the Seller having failed to perform any of the material covenants and
agreements contained herein to be performed by the Seller, the Purchaser may,
as its sole remedy, either (x) terminate this Agreement or (y) pursue
a suit for specific performance.

 

11.2.                        Default by the Purchaser. If the
transaction herein contemplated fails to close as a result of the default of
the Purchaser hereunder, or the Purchaser having made any representation or
warranty herein which shall be untrue or misleading in any material respect, or
the Purchaser having failed to perform any of the covenants and agreements
contained herein to be performed by it, the Seller may terminate this Agreement
(in which case, the Purchaser shall reimburse the Seller for all of the fees,
charges, disbursements and expenses of the Seller’s attorneys).

 

SECTION 12.                     MISCELLANEOUS.

 

12.1.                        Allocation of Liability.    It
is expressly understood and agreed that the Seller shall be liable to third
parties for any and all obligations, claims, losses, damages, liabilities, and
expenses to the extent arising out of events, contractual obligations, acts, or
omissions of the Seller that occurred in connection with the ownership or
operation of the Property during the period in which the Seller owned the
Property prior to the Closing and the Purchaser shall be liable to third
parties for any and all obligations, claims, losses, damages, 

 

18

 

liabilities
and expenses to the extent arising out of events, contractual obligations,
acts, or omissions of the Purchaser that occur in connection with the ownership
or operation of the Property during the period in which the Purchaser owns the
Property after the Closing. The provisions of this Section 12.1
shall survive the Closing.

 

12.2.                        Brokers.    Each of
the parties hereto represents to the other parties that it dealt with no
broker, finder or like agent in connection with this Agreement or the
transactions contemplated hereby. Each party shall indemnify and hold harmless
the other party and its respective legal representatives, heirs, successors and
assigns from and against any loss, liability or expense, including reasonable
attorneys’ fees, charges and disbursements arising out of any claim or claims
for commissions or other compensation for bringing about this Agreement or the
transactions contemplated hereby made by any other broker, finder or like
agent, if such claim or claims are based in whole or in part on dealings with
the indemnifying party. The provisions of this Section 12.2 shall
survive the Closing.

 

12.3.                        Publicity.    The
parties agree that, except as otherwise required by law and except for the
exercise of any remedy hereunder, no party shall, with respect to this
Agreement and the transactions contemplated hereby, contact or conduct
negotiations with public officials, make any public pronouncements, issue press
releases or otherwise furnish information regarding this Agreement or the
transactions contemplated to any third party without the consent of the other
party, which consent shall not be unreasonably withheld, conditioned or
delayed.

 

12.4.                        Notices.    (a) 
Any and all notices, demands, consents, approvals, offers, elections and other
communications required or permitted under this Agreement shall be deemed
adequately given if in writing and the same shall be delivered either in hand,
by telecopier with confirmed receipt, or by mail or Federal Express or similar
expedited commercial carrier, addressed to the recipient of the notice,
postpaid and registered or certified with return receipt requested (if by
mail), or with all freight charges prepaid (if by Federal Express or similar
carrier).

 

(b)                                 All notices required
or permitted to be sent hereunder shall be deemed to have been given for all
purposes of this Agreement upon the date of acknowledged receipt, in the case
of a notice by telecopier, and, in all other cases, upon the date 

 

19

 

of receipt or refusal, except that whenever
under this Agreement a notice is either received on a day which is not a
Business Day or is required to be delivered on or before a specific day which
is not a Business Day, the day of receipt or required delivery shall
automatically be extended to the next Business Day.

 

(c)                                  All such notices
shall be addressed,

 

if to the Seller, to:

 

Hub Northeast Medical Arts Center LLC

c/o HRPT Properties Trust

400 Centre Street

Newton, Massachusetts  02458

Attn:  Mr. John C. Popeo

[Telecopier No. (617) 928-1305]

 

with a copy to:

 

Skadden, Arps, Slate, Meagher & Flom LLP

300 South Grand Avenue, 34th Floor

Los Angeles, California 90071

Attn:  Meryl K. Chae, Esq.

[Telecopier No. (213) 621-5035]

 

if to the Purchaser, to:

 

Senior Housing Properties Trust

400 Centre Street

Newton, Massachusetts 02458

Attn:  Mr. David J. Hegarty

[Telecopier No. (617) 796-8349]

 

with a copy to:

 

Sullivan & Worcester LLP

One Post Office Square

Boston, Massachusetts  02109

Attn:  Nancy S. Grodberg, Esq.

[Telecopier No. (617) 338-2880]

 

(d)                                 By notice given as
herein provided, the parties hereto and their respective successor and assigns
shall have the right from time to time and at any time during the term of this
Agreement to change their respective addresses effective upon receipt by the
other parties of such notice and each shall have the right to specify as its
address any other address within the United States of America.

 

20

 

12.5.                        Waivers, Etc.    Subject
to the terms of the last paragraph of Section 6, any waiver of any
term or condition of this Agreement, or of the breach of any covenant,
representation or warranty contained herein, in any one instance, shall not
operate as or be deemed to be or construed as a further or continuing waiver of
any other breach of such term, condition, covenant, representation or warranty
or any other term, condition, covenant, representation or warranty, nor shall
any failure at any time or times to enforce or require performance of any
provision hereof operate as a waiver of or affect in any manner such party’s
right at a later time to enforce or require performance of such provision or
any other provision hereof. This Agreement may not be amended, nor shall any
waiver, change, modification, consent or discharge be effected, except by an
instrument in writing executed by or on behalf of the party against whom
enforcement of any amendment, waiver, change, modification, consent or
discharge is sought.

 

12.6.                        Assignment; Successors and Assigns.
   Subject to Section 12.15, this Agreement and all
rights and obligations hereunder shall not be assignable, directly or
indirectly, by any party without the written consent of the other, except that
the Purchaser may assign this Agreement to any entity wholly owned, directly or
indirectly, by the Purchaser; provided, however, that, in the
event this Agreement shall be assigned to any one or more entities wholly
owned, directly or indirectly, by the Purchaser, the Purchaser named herein
shall remain liable for the obligations of the “Purchaser” hereunder. This
Agreement shall be binding upon and shall inure to the benefit of the parties
hereto and their respective legal representatives, successors and permitted assigns.
This Agreement is not intended and shall not be construed to create any rights
in or to be enforceable in any part by any other persons.

 

12.7.                        Severability.    If
any provision of this Agreement shall be held or deemed to be, or shall in fact
be, invalid, inoperative or unenforceable as applied to any particular case in
any jurisdiction or jurisdictions, or in all jurisdictions or in all cases,
because of the conflict of any provision with any constitution or statute or rule of
public policy or for any other reason, such circumstance shall not have the
effect of rendering the provision or provisions in question invalid,
inoperative or unenforceable in any other jurisdiction or in any other case or
circumstance or of rendering any other provision or provisions herein contained
invalid, inoperative or unenforceable to the extent that such other provisions
are not

 

21

 

themselves actually in conflict with such
constitution, statute or rule of public policy, but this Agreement shall
be reformed and construed in any such jurisdiction or case as if such invalid,
inoperative or unenforceable provision had never been contained herein and such
provision reformed so that it would be valid, operative and enforceable to the
maximum extent permitted in such jurisdiction or in such case.

 

12.8.        Counterparts, Etc.
   This Agreement may be executed in two or more
counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same instrument. This Agreement
constitutes the entire agreement of the parties hereto with respect to the
subject matter hereof and shall supersede and take the place of any other
instruments purporting to be an agreement of the parties hereto relating to the
subject matter hereof.

 

12.9.        Performance on Business
Days.    In the event the date on which
performance or payment of any obligation of a party required hereunder is other
than a Business Day, the time for payment or performance shall automatically be
extended to the first Business Day following such date.

 

12.10.      Attorneys’ Fees.
   If any lawsuit or arbitration or other legal proceeding
arises in connection with the interpretation or enforcement of this Agreement,
the prevailing party therein shall be entitled to receive from the other party
the prevailing party’s costs and expenses, including reasonable attorneys’ fees
incurred in connection therewith, in preparation therefor and on appeal
therefrom, which amounts shall be included in any judgment therein.

 

12.11.      Section and Other
Headings.    The headings contained in this
Agreement are for reference purposes only and shall not in any way affect the
meaning or interpretation of this Agreement.

 

12.12.      Time of Essence.
   Time shall be of the essence with respect to the performance
of each and every covenant and obligation, and the giving of all notices, under
this Agreement.

 

12.13.      Governing Law.
   This Agreement shall be interpreted, construed, applied and
enforced in accordance with the laws of The Commonwealth of Massachusetts.

 

12.14.      Arbitration.
   Any party hereto may elect to submit any dispute hereunder
that has an amount in controversy in excess of $250,000 to arbitration
hereunder. Any such 

 

22

 

arbitration
shall be conducted in Boston, Massachusetts in accordance with the Commercial
Arbitration Rules of the American Arbitration Association then pertaining
and the decision of the arbitrators with respect to such dispute shall be
binding, final and conclusive on the parties.

 

In the event any party hereto shall elect to
submit any such dispute to arbitration hereunder, the Seller and the Purchaser
shall each appoint and pay all fees of a fit and impartial person as arbitrator
with at least ten (10) years’ recent professional experience in the
general subject matter of the dispute. Notice of such appointment shall be sent
in writing by each party to the other, and the arbitrators so appointed, in the
event of their failure to agree within thirty (30) days after the appointment
of the second arbitrator upon the matter so submitted, shall appoint a third
arbitrator. If either the Seller or the Purchaser shall fail to appoint an
arbitrator, as aforesaid, for a period of ten (10) days after written
notice from the other party to make such appointment, then the arbitrator
appointed by the party having made such appointment shall appoint a second
arbitrator and the two (2) so appointed shall, in the event of their
failure to agree upon any decision within thirty (30) days thereafter, appoint
a third arbitrator. If such arbitrators fail to agree upon a third arbitrator
within forty five (45) days after the appointment of the second arbitrator,
then such third arbitrator shall be appointed by the American Arbitration
Association from its qualified panel of arbitrators, and shall be a person
having at least ten (10) years’ recent professional experience as to the
subject matter in question. The fees of the third arbitrator and the expenses
incident to the proceedings shall be borne equally between the Seller and the
Purchaser, unless the arbitrators decide otherwise. The fees of respective
counsel engaged by the parties, and the fees of expert witnesses and other
witnesses called for by the parties, shall be paid by the respective party
engaging such counsel or calling or engaging such witnesses.

 

The decision of the arbitrators shall be
rendered within thirty (30) days after appointment of the third arbitrator. Such
decision shall be in writing and in duplicate, one counterpart thereof to be
delivered to the Seller and one to the Purchaser. A judgment of a court of
competent jurisdiction may be entered upon the award of the arbitrators in
accordance with the rules and statutes applicable thereto then obtaining.

 

12.15.      Like Kind
Exchange.    At either party’s request, the non-requesting
party will take all actions reasonably requested 

 

23

 

by the
requesting party in order to effectuate all or any part of the transactions
contemplated by this Agreement as a forward or reverse like-kind exchange for
the benefit of the requesting party in accordance with Section 1031 of the
Internal Revenue Code and, in the case of a reverse exchange, Rev. Proc.
2000-37, including executing an instrument acknowledging and consenting to any
assignment by the requesting party of its rights hereunder to a qualified
intermediary or an exchange accommodation titleholder. In furtherance of the
foregoing and notwithstanding anything contained in this Agreement to the
contrary, the requesting party may assign its rights under this Agreement to a
“qualified intermediary” or an “exchange accommodation titleholder” in order to
facilitate, at no cost or expense to the other, a forward or reverse like-kind
exchange under Section 1031 of the Internal Revenue Code; provided,
however, that such assignment will not relieve the requesting party of any of
its obligations hereunder. The non-requesting party will also agree to issue
all closing documents, including the deed, to the applicable qualified
intermediary or exchange accommodation titleholder if so directed by the
requesting party prior to Closing. Notwithstanding the foregoing, in no event
shall the non-requesting party incur or be subject to any liability that is not
otherwise provided for in this Agreement.

 

12.16.      Recording.    This
Agreement may not be recorded without the prior written consent of both
parties.

 

12.17.      Limitation of Liability of
Seller.    All persons dealing with the Seller,
in any way shall look only to the assets of the Seller for the payment of any
sum or the performance of any obligation.

 

12.18.      Non-liability of Trustees
of Purchaser.    The Declaration of Trust of
Senior Housing Properties Trust, a copy of which is duly filed with the
Department of Assessments and Taxation of the State of Maryland, provides that
the name “Senior Housing Properties Trust” refers to the trustees under such
Declaration of Trust collectively as trustees, but not individually or
personally, and that no trustee, officer, shareholder, employee or agent of
Senior Housing Properties Trust shall be held to any personal liability,
jointly or severally, for any obligation or, or claim against, Senior Housing
Properties Trust. All persons dealing with the Purchaser, in any way shall look
only to the assets of the Purchaser for the payment of any sum or the
performance of any obligation.

 

24

 

12.19.      Waiver and Further
Assurances.    The Purchaser hereby acknowledges
that it is a sophisticated purchaser of real properties and that it is aware of
all disclosures the Seller is or may be required to provide to the Purchaser in
connection with the transactions contemplated hereby pursuant to any law, rule or
regulation (including those of Massachusetts and those of the state in which
the Property is located). The Purchaser hereby acknowledges that, prior to the
execution of this Agreement, the Purchaser has had access to all information
necessary to acquire the Property and the Purchaser acknowledges that the
Seller has fully and completely fulfilled any and all disclosure obligations
with respect thereto. The Purchaser hereby fully and completely discharges the
Seller from any further disclosure obligations whatsoever relating to the
Property. In addition to the actions recited herein and contemplated to be
performed, executed, and/or delivered by the Seller and the Purchaser, the
Seller and the Purchaser agree to perform, execute and/or deliver or cause to
be performed, executed and/or delivered at the Closing or after the Closing any
and all such further acts, instruments, deeds and assurances as may be
reasonably required to establish, confirm or otherwise evidence the Seller’s
satisfaction of any disclosure obligations or to otherwise consummate the
transactions contemplated hereby.

 

[Signature
page follows.]

 

25

 

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

 

	
   

  	
   

  	
  SELLER:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  HUB NORTHEAST
  MEDICAL ARTS CENTER LLC, a Delaware limited liability company

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ John C. Popeo

  
	
   

  	
   

  	
   

  	
  John C. Popeo

  
	
   

  	
   

  	
   

  	
  Treasurer

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  PURCHASER:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  SENIOR HOUSING PROPERTIES TRUST,
  a

  Maryland real estate investment trust

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ David J. Hegarty

  
	
   

  	
   

  	
   

  	
  David J. Hegarty

  
	
   

  	
   

  	
   

  	
  President

  
						

 

26

 

SCHEDULE
A

 

Land

 

 

SCHEDULE
B

 

Rent
Roll

 

 

SCHEDULE
C

 

Form of
Deed

 

Certain Schedules to this
agreement have been omitted. The Company agrees to furnish supplementally
copies of any of the omitted Schedules to the Securities and Exchange
Commission upon request.Exhibit 10.22

 

RIGHT OF FIRST REFUSAL AGREEMENT

 

THIS RIGHT OF REFUSAL AGREEMENT (this
“Agreement”) is entered into as of May 5, 2008, by and among (i) the
entities listed as “grantors” on the signature pages of this Agreement
(each a “Grantor” and collectively the “Grantors”), and (ii) Senior
Housing Properties Trust, a Maryland real estate investment trust (“SNH”).

 

WITNESSETH:

 

WHEREAS,  
the Grantors have agreed to grant to SNH a right of first refusal to purchase
certain medical office buildings, clinical laboratory buildings and biomedical,
pharmaceutical and laboratory buildings, listed on Schedule A hereto and
as more particularly described on Schedules B-1 through B-35
hereto (each a “ROFR Property”, and collectively, the “ROFR
Properties”), subject to, and upon, the terms and conditions of this
Agreement;

 

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

 

1.             Right of First Refusal to Purchase.    The
Grantors hereby grant to SNH, subject to the Declaration of Trust of HRPT
Properties Trust (“HRPT”) and subject to and in accordance with the
terms and conditions of this Section 1, the right of first refusal
to purchase the ROFR Properties.

 

(a)           If a Grantor desires
to sell a ROFR Property, or if a Grantor shall otherwise receive an offer from
a party other than SNH, or its affiliates, for any such sale or transfer which
such Grantor intends to accept, then such Grantor shall, prior to entering into
an agreement with respect to such sale, provide, or shall cause to be provided,
written notice (the “ROFR Notice”) to SNH of its intention to effect
such a transaction, which ROFR Notice shall specify the cash purchase price for
the ROFR Property, the terms of payment, the closing date and the other
material business terms of such transaction. SNH shall have fifteen (15)
business days after receipt of the ROFR Notice to notify such Grantor in
writing (the “ROFR Acceptance Notice”) of its intent to purchase the
ROFR Property on the terms and conditions set forth in the ROFR Notice. The
negotiation and execution of a mutually acceptable purchase and sale agreement
must occur no more than fifteen (15)

 

 

calendar days after the date on which SNH
gave the Grantor the ROFR Acceptance Notice.

 

(b)           If SNH fails or
elects not to give timely a ROFR Acceptance Notice, or if a mutually acceptable
purchase and sale agreement is not executed within fifteen (15) calendar days
after the date on which SNH gave the Grantor the ROFR Acceptance Notice, then
the Grantor shall have three hundred sixty-five (365) days from the date
thereof to sell the ROFR Property to any third party (including any party
making the offer set forth in subsection (a) above) for a purchase price
not less than 95% of the cash purchase price specified in the ROFR Notice. If
such sale shall not have occurred within such three hundred sixty-five (365)
day period, then the sale of the ROFR Property shall once again be subject to
the right of first refusal set forth in this Agreement.

 

(c)           Excluded
Transactions.    The following transactions shall
be excluded from the right of first refusal contained herein:

 

(i)            A transfer of any
ROFR Property to a governmental or quasi-governmental agency (collectively, the
“Agency”) as part of a tax reduction or tax abatement program in which a
Grantor leases a ROFR Property back from the Agency; provided,  however,
a transfer or assignment of such Grantor’s interest as tenant in the lease of
the ROFR Property from the Agency shall be subject to the terms and conditions
of this Agreement and the right of first refusal granted herein;

 

(ii)           A transfer of a
ROFR Property to an entity that is wholly owned, directly or indirectly, by
HRPT so long as such entity continues to be wholly owned directly or indirectly
by HRPT;

 

(iii)          A sale of a ROFR
Property to any tenant or other party having a right of first refusal or offer
to purchase in effect on the date hereof on the terms and conditions of such
right of first refusal or offer to purchase;

 

(iv)          A sale of the ROFR
Property to the appropriate condemning authority pursuant to eminent domain or
under threat of eminent domain;

 

(v)           Any financing, reorganization, recapitalization, 

 

 

reclassification, exchange of
shares or spin-offs to HRPT shareholders, in each case where there is no Change
of Control.

 

2.             Change of Control.   For the purposes of
this Agreement, a direct or indirect Change of Control shall be deemed a sale. HRPT
shall give SNH prompt written notice of the occurrence of any Change of Control
with respect to any Grantor. In such event, subject to the provisions of the
Declaration of Trust of HRPT, SNH shall have the option, exercisable by written
notice to HRPT within sixty (60) days after HRPT’s notice to SNH regarding such
Change of Control, to purchase any or all of the ROFR Properties owned by the
Grantor to which such Change of Control applies (or any Subsidiary of such
Grantor), for a purchase price equal to, with respect to each such ROFR
Property, the Change of Control Purchase Price.

 

As used in this Agreement:

 

(i)            “Affiliated Person”      shall
mean, with respect to any Person, (a)  in the case of any such Person
which is a partnership, any partner in such partnership, (b) in the case
of any such Person which is a limited liability company, any member of such
company, (c) any other Person which is a Parent, a Subsidiary, or a
Subsidiary of a Parent with respect to such Person or to one or more of the
Persons referred to in the preceding clauses (a) and (b), (d) any
other Person who is an officer, director, trustee or employee of, or partner in
or member of, such Person or any Person referred to in the preceding clauses
(a), (b) and (c), and (e) any other Person who is a member of the
Immediate Family of such Person or of any Person referred to in the preceding
clauses (a) through (d).

 

(ii)           “Capitalization
Value”     shall mean, with respect to any
ROFR Property, the Net Operating Income of such ROFR Property divided by the
greater of (a) treasuries plus 350 basis points and (b) nine percent
(9%).

 

(iii)          “Change
of Control”     shall mean, with respect to
any Grantor, (a) the acquisition by any Person, or two or more Persons
acting in concert, of beneficial ownership (within the meaning of Rule 13d-3
of the SEC) of 9.8% or more in violation of the Declaration of Trust of HRPT,
or rights, options or warrants to acquire 9.8% or more, of the outstanding
shares of voting stock or other voting interests of a Grantor or its direct or
indirect Parent in violation of the Declaration of Trust of HRPT, as the case
may be, or the power to direct the management and policies of a Grantor or its
direct or indirect 

 

 

Parent, directly or indirectly, (b) the
merger or consolidation of a Grantor or its direct or indirect Parent with or
into any other Person (other than the merger or consolidation of any Person
into a Grantor or direct or indirect Parent that does not result in a Change of
Control of a Grantor or direct or indirect Parent under clauses (a), (c) or
(d) of this definition), (c) any one or more sales or conveyances to
any Person of all or any material portion of the assets (including capital
stock or other equity interests) or business of HRPT, or (d) the
cessation, for any reason, of the individuals who at the beginning of any
twenty-four (24) consecutive month period (commencing on the date of this
Agreement) constituted the board of directors of a Grantor or its direct or
indirect Parent (together with any new directors whose election by such board
or whose nomination for election by the shareholders of a Grantor or its direct
or indirect Parent, as the case may be, was approved by a vote of a majority of
the directors then still in office who were either directors at the beginning
of any such period or whose election or nomination for election was previously
so approved) to constitute a majority of the board of directors of a Grantor or
its direct or indirect Parent then in office.

 

(iv)          “Change of Control Purchase Price”     shall
mean, with respect to any ROFR Property which is less than fifty percent (50%)
leased, the Fair Market Value of such ROFR Property and, with respect to any
ROFR Property which is fifty percent (50%) or more leased, the lesser of (x) the
Fair Market Value of such ROFR Property and (y) the Capitalization Value
of such ROFR Property.

 

(v)           “Entity”     shall
mean any corporation, general or limited partnership, limited liability company
or partnership, stock company or association, joint venture, association,
company, trust, bank, trust company, land trust, business trust, real estate
investment trust, cooperative, any government or agency, authority or political
subdivision thereof or any other entity.

 

(vi)          “Fair Market Value”     shall
mean, with respect to any ROFR Property, the price that a willing buyer not
compelled to buy would pay a willing seller not compelled to sell for such ROFR
Property, determined by agreement of the parties or, absent agreement within
thirty (30) days after any party’s written request for agreement, by appraisal
in accordance with the following process. The Grantor and SNH shall each select
a Qualified Appraiser within five (5) days after the notice from either
party demanding arbitration. If either party shall fail 

 

 

to select and appoint a Qualified Appraiser within such five (5) day
period, such party shall be deemed to have accepted the fair market value
determined by the other party’s Qualified Appraiser. If Grantor and SNH shall
each select and appoint a Qualified Appraiser within such five (5) day
period, but the two appraisers shall fail to agree upon the fair market value
within thirty (30) days of their appointment, then either Grantor or SNH, on
behalf of both, may then request the American Arbitration Association to select
a third Qualified Appraiser, in which event the two appraisers shall submit
their appraisals to the third appraiser in writing, and such third appraiser
shall determine which of the two appraisals is the fair market value. The costs
incurred in connection with such appraisal process shall be borne equally by
the parties.

 

(vii)         “Immediate Family”      shall mean, with respect to any
individual, such individual’s spouse, parents, brothers, sisters, children
(natural or adopted), stepchildren, grandchildren, grandparents,
parents-in-law, brothers-in-law, sisters-in-law, nephews and nieces.

 

(viii)        “Net
Operating Income”    shall mean, with
respect to any ROFR Property, the amount by which (i) the rents and other
revenues projected to be received from the operation and/or leasing of the
property or any portion thereof (excluding the proceeds from any capital event)
for the twelve (12) full calendar month period following the month in which the
anticipated sale will occur (determined on the basis of leases in good standing
that are in effect at the time of such calculation), exceeds (ii) the  projected operating expenses, real estate
taxes, and ground rent (if any) for such ROFR Property for such twelve (12)
month period; Net Operating Income shall be net of an allowance for bad debt
expenses in accordance with generally accepted accounting principles,
consistently applied, and based on actual prior experience.

 

(ix)           “Parent”   
shall mean, with respect to any Person, any Person which owns directly, or
indirectly through one or more Subsidiaries or Affiliated Persons, twenty
percent (20%) or more of the voting or beneficial interest in, or otherwise has
the right or power (whether by contract, through ownership of securities or
otherwise) to control, such Person.

 

(x)            “Person”    shall mean any individual or
Entity, and the heirs, executors, administrators, legal representatives,
successors and assigns of such Person where the context so admits.

 

 

(xi)           “Qualified
Appraiser”     shall mean any disinterested
person who is a member in good standing of the American Institute of Real
Estate Appraisers or the American Society of Real Estate Counselors (or the
successor to either of such organizations) and who has had not less than ten (10) years’
experience in appraising and valuing properties of the size, type and nature of
the ROFR Property.

 

(xii)          “Subsidiary”      shall
mean, with respect to any Person, any Entity (a) in which such Person owns
directly, or indirectly through one or more Subsidiaries, twenty percent (20%)
or more of the voting or beneficial interest or (b) which such Person
otherwise has the right or power to control (whether by contract, through
ownership of securities or otherwise).

 

3.             Term of Right of First Refusal.     The
right of first refusal to purchase provided to SNH in this Agreement shall
automatically terminate and be null and void with respect to any ROFR Property
at the earlier of (i) the sale of such ROFR Property pursuant to Section 1(b) or
(c)(iii) or (iv) of this Agreement, or (ii) the date that is
thirty-five (35) years from and after the date hereof.

 

4.             Short Form Memorandum.     The
parties agree to execute a short form memorandum of this Agreement to be
recorded with the land records of the jurisdiction where each ROFR Property is
located. This Agreement shall not be recorded by either party.

 

5.             Governing Law.     This Agreement
shall be governed  by and construed in accordance with the laws of The
Commonwealth of Massachusetts.

 

6.             Notices.     (a) Any and all
notices, demands, consents, approvals, offers, elections and other
communications required or permitted under this Agreement shall be deemed
adequately given if in writing and the same shall be delivered either by hand,
by telecopier with confirmed receipt, or by mail or Federal Express or similar
expedited commercial carrier, addressed to the recipient of the notice,
postpaid and registered or certified with return receipt requested (if by
mail), or with all freight charges prepaid (if by Federal Express or similar
carrier).

 

(b)           All notices required
or permitted to be sent hereunder shall be deemed to have been given for all
purposes of this Agreement upon the date of acknowledged receipt, in the case
of a notice by telecopier, and, in all other cases, upon the date of receipt or
refusal, except 

 

 

that whenever under this Agreement a notice
is either received on a day which is not a business day or is required to be
delivered on or before a specific day which is not a business day, the day of
receipt or required delivery shall automatically be extended to the next
business day.

 

(c)           All such notices
shall be addressed,

 

if to any Grantor, to:

 

c/o HRPT Properties Trust

400 Centre Street

Newton, Massachusetts  02458

Attn:  Mr. John C. Popeo

[Telecopier No. (617) 928-1305]

 

with a copy to:

 

Skadden, Arps, Slate, Meagher & Flom LLP

300 South Grand Avenue, 34th Floor

Los Angeles, California 90071

Attn:  Meryl K. Chae, Esq.

[Telecopier No. (213) 621-5035]

 

if to SNH, to:

 

Senior Housing Properties Trust

400 Centre Street

Newton, Massachusetts  02458

Attn:  Mr. David J. Hegarty

[Telecopier No. (617) 796-8349]

 

with a copy to:

 

Sullivan & Worcester LLP

One Post Office Square

Boston, Massachusetts  02109

Attn:  Nancy S. Grodberg, Esq.

[Telecopier No. (617) 338-2880]

 

(d)           By notice given as
herein provided, the parties hereto and their respective successors and assigns
shall have the right from time to time and at any time during the term of this
Agreement to change their respective addresses effective upon receipt by the
other parties of such notice and each shall have the right to specify as its
address any other address within the United States of America.

 

 

7.             Binding Effect.     This Agreement
shall run with the ROFR Properties, and shall be binding upon and shall inure
to the benefit of the parties hereto and their respective legal
representatives, successors and permitted assigns.

 

8.             Non-liability of Trustees of Grantors.     The
Declarations of Trust of HRPT Properties Trust, Blue Dog Properties Trust, Hub
Properties Trust and Lakewood Property Trust, copies of which are duly filed
with the Department of Assessments and Taxation of the State of Maryland,
provide that the names “HRPT Properties Trust”, “Blue Dog Properties Trust”, “Hub
Properties Trust” and “Lakewood Property Trust”, respectively, refer to the
trustees under such Declaration of Trust collectively as trustees, but not
individually or personally, and that no trustee, officer, shareholder, employee
or agent of HRPT Properties Trust, Blue Dog Properties Trust, Hub Properties
Trust or Lakewood Property Trust, respectively, shall be held to any personal
liability, jointly or severally, for any obligation of, or claim against, HRPT
Properties Trust, Blue Dog Properties Trust, Hub Properties Trust or Lakewood
Property Trust, respectively. All persons dealing with any Grantor, in any way,
shall look only to the assets of such Grantor for the payment of any sum or the
performance of any obligation.

 

9.             Non-liability of Trustees of SNH.     The
Declaration of Trust of Senior Housing Properties Trust, a copy of which is
duly filed with the Department of Assessments and Taxation of the State of
Maryland, provides that the name “Senior Housing Properties Trust” refers to
the trustees under such Declaration of Trust collectively as trustees, but not
individually or personally, and that no trustee, officer, shareholder, employee
or agent of Senior Housing Properties Trust shall be held to any personal
liability, jointly or severally, for any obligation or, or claim against,
Senior Housing Properties Trust. All persons dealing with SNH, in any way,
shall look only to the assets of SNH for the payment of any sum or the
performance of any obligation.

 

[Signature pages follow.]

 

 

IN WITNESS WHEREOF,
the Grantors and SNH have caused this Agreement to be executed by their
respective duly authorized signatories as of the day and year first above
written.

 

	
   

  	
   

  	
  GRANTORS:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  HRPT PROPERTIES TRUST, a Maryland real estate investment trust

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/   John C. Popeo

  
	
   

  	
   

  	
   

  	
  John C. Popeo

  
	
   

  	
   

  	
   

  	
  Treasurer and Chief Financial
  Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  BLUE DOG PROPERTIES TRUST, a Maryland real estate investment trust

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/   John C. Popeo

  
	
   

  	
   

  	
   

  	
  John C. Popeo

  
	
   

  	
   

  	
   

  	
  Treasurer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  CEDARS LA LLC, a Delaware limited liability company

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/   John C. Popeo

  
	
   

  	
   

  	
   

  	
  John C. Popeo

  
	
   

  	
   

  	
   

  	
  Treasurer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  HRP NOM L.P., a Delaware limited partnership

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  HRP Nom L.L.C., a Delaware
  limited liability company, its general partner

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By: 

  	
  HRP Nom Inc., a Delaware
  corporation, its managing member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  By:

  	
  /s/   John C. Popeo

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  John C. Popeo

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Treasurer

  
							

 

 

	
   

  	
   

  	
  HRP NOM 2 L.P., a Delaware limited partnership

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  HRP Nom 2 L.L.C., a Delaware
  limited liability company, its general partner

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  HRP Nom 2 Inc., a Delaware
  corporation, its managing member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  By:

  	
  /s/   John C. Popeo

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  John C. Popeo

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Treasurer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  HRPT MEDICAL
  BUILDINGS REALTY TRUST, a Massachusetts nominee trust

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ John A. Mannix

  
	
   

  	
   

  	
   

  	
  John A. Mannix, as trustee as

  
	
   

  	
   

  	
   

  	
  aforesaid and not individually

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ John C. Popeo

  
	
   

  	
   

  	
   

  	
  John C. Popeo, as trustee as

  
	
   

  	
   

  	
   

  	
  aforesaid and not individually

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  HUB PROPERTIES TRUST, a Maryland real estate investment trust

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/   John C. Popeo

  
	
   

  	
   

  	
   

  	
  John C. Popeo

  
	
   

  	
   

  	
   

  	
  Treasurer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  LAKEWOOD PROPERTY TRUST, a Maryland real estate investment trust

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/   John C. Popeo

  
	
   

  	
   

  	
   

  	
  John C. Popeo

  
	
   

  	
   

  	
   

  	
  Treasurer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  LTMAC PROPERTIES LLC, a Maryland limited liability company

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/   John C. Popeo

  
	
   

  	
   

  	
   

  	
  John C. Popeo

  
	
   

  	
   

  	
   

  	
  Treasurer

  
							

 

 

	
   

  	
   

  	
  HUB MID-WEST LLC, a Maryland limited liability company

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/   John C. Popeo

  
	
   

  	
   

  	
   

  	
  John C. Popeo

  
	
   

  	
   

  	
   

  	
  Treasurer

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  ROSEDALE PROPERTIES LIMITED LIABILITY COMPANY, a Delaware limited liability company 

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  Rosedale Properties, Inc.,
  a Delaware corporation, its managing member

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/   John C. Popeo

  
	
   

  	
   

  	
   

  	
   

  	
  John C. Popeo

  
	
   

  	
   

  	
   

  	
   

  	
  Treasurer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  SNH:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  SENIOR HOUSING PROPERTIES TRUST, a Maryland real estate investment trust

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/   David J.
  Hegarty

  
	
   

  	
   

  	
   

  	
  David J. Hegarty

  
	
   

  	
   

  	
   

  	
  President

  
						

 

 

Schedule A

Right of First Refusal Properties

 

	
  Cedars Sinai I (East)

  	
   

  	
  Los Angeles, CA

  
	
  Cedars Sinai II (West)

  	
   

  	
  Los Angeles, CA

  
	
  One Franklin Plaza

  	
   

  	
  Philadelphia, PA

  
	
  Brookline Avenue

  	
   

  	
  Boston, MA

  
	
  4411 The 25 Way

  	
   

  	
  Albuquerque, NM

  
	
  3000 Coffs Falls Road

  	
   

  	
  Manchester, NH

  
	
  2444 West Las Palmaritas Drive

  	
   

  	
  Phoenix, AZ

  
	
  1305 Corporate Center Drive

  	
   

  	
  Egan, MN

  
	
  1675 Lakeside Drive

  	
   

  	
  Waukegan, IL

  
	
  1615 Lakeside Street

  	
   

  	
  Waukegan, IL

  
	
  Sorrento Valley

  	
   

  	
  San Diego, CA

  
	
  Boylston Street

  	
   

  	
  Boston, MA

  
	
  Potomac Circle

  	
   

  	
  Aurora, CO

  
	
  100 Hampshire

  	
   

  	
  Mansfield, MA

  
	
  5 Hampshire

  	
   

  	
  Mansfield, MA

  
	
  15 Hampshire

  	
   

  	
  Mansfield, MA

  
	
  35 Thorpe Avenue

  	
   

  	
  Wallingford, CT

  
	
  59 Executive Park South

  	
   

  	
  Atlanta, GA

  
	
  2828 Paa Street

  	
   

  	
  Oahu, HI

  
	
  Owens & Minor Building

  	
   

  	
  Greensburg, PA

  
	
  AOC-Randolph Building

  	
   

  	
  Albuquerque, NM

  
	
  ACC-Buena Vista Building

  	
   

  	
  Albuquerque, NM

  
	
  AOC-LAB Building

  	
   

  	
  Albuquerque, NM

  
	
  AOC-Sandia Vista Building

  	
   

  	
  Albuquerque, NM

  
	
  730 Holiday Drive

  	
   

  	
  Pittsburgh, PA

  
	
  960 Harvest Run Drive A

  	
   

  	
  Blue Bell, PA

  
	
  960 Harvest Run Drive B

  	
   

  	
  Blue Bell, PA

  
	
  960 Harvest Run Drive C

  	
   

  	
  Blue Bell, PA

  
	
  40 Sebethe Drive

  	
   

  	
  Cromwell, CT

  
	
  6937 IH 35 North-Am. Founders

  	
   

  	
  Austin, TX

  
	
  201 Executive Center Drive

  	
   

  	
  Columbia, SC

  
	
  One Southern Court

  	
   

  	
  West Columbia, SC

  
	
  723 Dresher Road

  	
   

  	
  Horsham, PA

  
	
  216 Mall Boulevard

  	
   

  	
  King of Prussia, PA

  
	
  5260 Naiman Parkway

  	
   

  	
  Solon, OH

  
	
  866 North Main Street

  	
   

  	
  Wallingford, CT

  
	
  Rosedale Corp. Plaza - Bldg. A

  	
   

  	
  Rosedale, MN

  
	
  1052 Ahua Street

  	
   

  	
  Oahu, HI

  
	
  3231 Gulley Road

  	
   

  	
  Dearborn, MI

  
	
  22 Executive Park West

  	
   

  	
  Atlanta, GA

  
	
  Lakewood Building A

  	
   

  	
  Austin, TX

  
	
  9779 Business Park Drive

  	
   

  	
  Sacramento, CA

  

 

 

Schedule B-1 through B-35

 

Legal Descriptions of ROFR
Properties

 

Certain Schedules to this agreement have been omitted. The Company
agrees to furnish supplementally copies of any of the omitted Schedules to the
Securities and Exchange Commission upon request.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00142-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00142-of-00352.parquet"}]]