Document:

EX-10.2

LOAN AGREEMENT

BETWEEN

G & E HC REIT II SURGICAL HOSPITAL OF HUMBLE, LLC

AND

AMERICAN MOMENTUM BANK

EFFECTIVE DECEMBER 9, 2010

LOAN AGREEMENT

This LOAN AGREEMENT (“Agreement”) is effective as of the 9th day of
DECEMBER, 2010 by and between G & E HC REIT II SURGICAL HOSPITAL OF HUMBLE, LLC, a Delaware limited
liability company (“Borrower”), whose address is 1551 North Tustin Avenue, Suite 300, Santa Ana,
California 92705, and AMERICAN MOMENTUM BANK (“Lender”), whose address is One Momentum Boulevard,
College Station, Texas 77845, Attention: KEVIN S. KURTZ.

ARTICLE I — DEFINITION OF TERMS

1.1 Definitions. As used in this Agreement, the following terms shall have the
respective meanings indicated below:

Agreement: This Loan Agreement, as the same may from time to time be amended or
supplemented.

Capital Reserve: There is no Capital Reserve account required in this transaction.
Where used herein, the term “Capital Reserve” is not applicable to this Agreement.

Constituent Party: Any signatory to this Agreement or any of the other Loan Documents
that signs on Borrower’s behalf that is a corporation (whether in its corporate capacity or in its
capacity as the General Partner of Borrower), general partnership, limited partnership, joint
venture, trust, or other type of business organization.

Commitment Fee: The sum of FORTY-FIVE THOUSAND DOLLARS ($45,000.00) to be paid by
Borrower to Lender pursuant to the applicable provisions of this Agreement (may be paid partly as a
“Commitment Fee” and partly as an “Origination Fee”).

Debt Coverage Certificate Letter: A letter in the form of any of the letters attached
hereto as Exhibit “C” and incorporated herein by this reference to be utilized by Borrower
for demonstrating compliance with or satisfaction of the debt coverage ratio requirements set forth
in this Agreement and the other Loan Documents.

Deed of Trust: The Deed of Trust of even date herewith pursuant to which Borrower
mortgages the Mortgaged Property to secure the Loan.

Environmental Law: Any federal, state, or local law, statute, ordinance, or
regulation pertaining to health, industrial hygiene, or the environmental conditions on, under, or
about the Mortgaged Property, including without limitation, the Comprehensive Environmental
Response, Compensation, and Liability Act of 1980 (“CERCLA”) as amended, 42 U.S.C. § 9601
et. seq. (“RCRA”), the Texas Water Code (“TWC”), and the Texas Solid Waste Disposal
Act, Tex. Rev. Civ. Stat. Ann. art. 4477-7, and regulations, rules, guidelines, or standards
promulgated pursuant to such laws, as such statutes, regulations, rules, guidelines, and standards
are amended from time to time.

Event of Default: Any happening or occurrence described in Section 6.1 of
this Agreement.

Financing Statement: The financing statement(s) (on Standard Form UCC-1 or
otherwise), if any.

Governmental Authority: Any and all courts, boards, agencies, commissions, offices,
or authorities of any nature whatsoever for any governmental unit (federal, state, county,
district, municipal, city or otherwise), whether now or hereafter in existence.

Governmental Requirements: All statutes, laws, ordinances, rules, regulations,
orders, writs, injunctions or decrees of any Governmental Authority applicable to Borrower,
Guarantor or the Mortgaged Property.

Guarantor: GRUBB & ELLIS HEALTHCARE REIT II, INC. who shall execute a separate
agreement of guaranty subject to the provisions hereof.

Guaranty: That or those instruments of guaranty now or hereafter in effect from
Guarantor to Lender guaranteeing the repayment of all or any part of the Loan, or the satisfaction
of, or continued compliance with, the covenants contained in the Loan Documents, or both.

Hazardous Substance: Hazardous Substance is any substance, product, waste, or
other material which is or becomes listed, regulated, or addressed as being a toxic, hazardous,
polluting, or similarly harmful substance under any Environmental Law, including without
limitation: (i) any substance included within the definition of “hazardous waste” pursuant to
Section 1004 of RCRA; (ii) any substance included within the definition of “hazardous substance”
pursuant to Section 101 of CERCLA; and (iii) any substance included within (a) the definition of
“waste” pursuant to Section 26.342(9) of TWC or (b) the definition of “hazard substance” pursuant
to Section 30.003(b) of the TWC or (c) the definition of “pollutant” pursuant to Section 26.001(13)
of the TWC.

Improvements: The improvements situated upon the Land generally described as all
structures now or hereafter constructed on the Land, including but not limited to, a 29,808 square
foot medical building, located in Humble, Harris County, Texas and any and all buildings, covered
garages, air conditioning towers, open parking areas, structures and other improvements, and any
and all additions, alternations, betterments or appurtenances thereto, now or at any time hereafter
situated, placed or constructed upon the Land or any part thereof.

Indebtedness: As defined in Deed of Trust of even date hereof, executed by Borrower
in favor of Lender.

Land: The real properties, or interest therein, described in Exhibit “A”
attached hereto and incorporated herein by this reference.

Lease: That certain Lease Agreement by and between Humble REP, LLC as Landlord and
Humble Surgical Hospital, LLC, as Tenant, dated December 7, 2009, and any amendments thereto and
subsequently assigned to Borrower (collectively referred to as the “Lease”).

Loan: The loan evidenced by the Note and governed by this Agreement.

Loan Amount: A maximum amount of NINE MILLION AND NO/100 DOLLARS ($9,000,000.00) made
pursuant to a single promissory note.

Loan Documents: The Note, the Deed of Trust, this Agreement, the Financing Statement,
and any and all other documents now or hereafter executed by the Borrower, or any other person or
party in connection with the Loan, the indebtedness evidenced by the Note, or the covenants
contained in this Agreement.

Major Tenants: Tenants of the Improvements to include HUMBLE SURGICAL HOSPITAL, LLC,
and any future tenants that are leasing 5,000 square feet or more.

Mortgaged Property: Collectively, the Land, the Improvements and all other collateral
covered by the Loan Documents. Except as specifically provided to the contrary in the Loan
Documents, “Mortgaged Property” shall include, but not be limited to, the improvements and the real
estate underlying the Improvements.

Note: That certain Promissory Note in the original principal amount of NINE MILLION
AND NO/100 DOLLARS ($9,000,000.00), of even date herewith, executed and delivered by Borrower, and
made payable to the order of Lender, bearing interest as therein specified, containing an
attorneys’ fee clause, with interest and principal being payable as therein specified, and finally
maturing on DECEMBER 9, 2011, and secured by, among other things, the Deed of Trust; and any and
all renewals, modifications, rearrangements, reinstatements, or extensions of such promissory notes
or of any promissory note or notes given in renewal, substitution or replacement therefor; however,
the amount of the Note shall not be increased except for protective advances made pursuant to the
Loan Documents.

Origination Fee: The sum equal to ONE-HALF OF ONE PERCENT (0.50%) of the Loan Amount
to be paid by Borrower to Lender pursuant to the applicable provisions of the Agreement.

Replacement Reserve Account: INTENTIONALLY OMITTED.

Security Agreement: The Security Agreement shall mean all security agreements,
whether contained in the Deed of Trust, a separate security agreement or otherwise creating a
security interest in all personal property and fixtures of Borrower (including replacements,
substitutions and after-acquired property) now or hereafter located in or upon the Land or
Improvements, or used or intended to be used in the operation thereof, to secure the Loan.

Tenant Improvement Reserve Account: INTENTIONALLY OMITTED.

Title Insurance: One or more title insurance commitments, binders or policies, as
Lender may require, issued by the Title Company, on a coinsurance or reinsurance basis (with direct
access endorsement or rights) if and as required by Lender, in the maximum amount of the Loan
insuring or committing to insure that the Deed of Trust constitutes a valid lien covering the Land
and Improvements subject only to those exceptions which Lender may approve.

Title Company: Each Title Company (and its issuing agent, if applicable)
issuing the Title Insurance, which shall be acceptable to Lender in its sole and absolute
discretion.

1.2 Additional Definitions. As used herein, the following terms shall have the
following meanings:

(a) “Hereof”, “hereby”, “hereto”, “hereunder”, “herewith”, and similar terms mean of,
by, to, under and with respect to, this Agreement or to the other documents or matters being
referenced.

(b) “Heretofore” means before, “hereafter” means after, and “herewith” means
concurrently with, the date of this Agreement.

(c) All pronouns, whether in masculine, feminine or neuter form, shall be deemed to
refer to the object of such pronoun whether same is masculine, feminine or neuter in gender,
as the context may suggest or require.

(d) All terms used herein, whether or not defined in Section 1.1 hereof, and whether
used in singular or plural form, shall be deemed to refer to the object of such term whether
such is singular or plural in nature, as the context may suggest or require.

ARTICLE II — THE LOAN

2.1 Agreement to Lend. Lender hereby agrees to lend up to but not in excess of the
Loan Amount to Borrower, and Borrower hereby agrees to borrow such sum from Lender, all upon and
subject to the terms and provisions of this Agreement and the Note, such sum to be evidenced by the
Note. No principal amount repaid by Borrower may be reborrowed by Borrower. Borrower’s liability
for repayment of the interest on account of the Loan shall be limited to and calculated with
respect to Loan proceeds actually disbursed to Borrower pursuant to the terms of this Agreement and
the Note, and only from the date or dates of such disbursements. Loan proceeds disbursed by Lender
by journal entry to pay interest or financing costs, and Loan proceeds disbursed directly by Lender
to pay costs or expenses required to be paid by Borrower pursuant to this Agreement, shall
constitute disbursements to Borrower.

2.2 Loan Limitation. Notwithstanding anything in this Agreement to the contrary, the
amount of the Loan with respect to the Mortgaged Property shall not exceed 69.8% of the appraised
value thereof on the date of this Agreement.

2.3 Capital Reserve. INTENTIONALLY OMITTED.

ARTICLE III — DISBURSEMENTS

3.1 Conditions to Initial Loan Disbursement. The obligation of Lender to make the
initial disbursement under the Note is subject to the prior or simultaneous occurrence of each of
the following conditions:

(a) Lender shall have received from Borrower all of the Loan Documents duly executed by
Borrower and, if applicable, by Guarantor.

(b) Lender shall have received certified copies of resolutions of the Managers of
Borrower, if Borrower is a corporation, or a certified copy of a consent of partners, if
Borrower is a partnership, authorizing execution, delivery and performance of all of the
Loan Documents and authorizing the borrowing hereunder, along with such certificates of
existence, certificates of good standing and other certificates or documents as Lender may
reasonably require to evidence Borrower’s authority.

(c) Lender shall have received true copies of all organization documents of Borrower,
including all amendments or supplements thereto, if Borrower is a legal entity other than a
corporation, along with such certificates or other documents as Lender may reasonably
require to evidence Borrower’s authority.

(d) Borrower must contribute $4,100,000.00 of Lender approved equity into the Mortgaged
Property.

(e) Lender shall have received evidence that the Mortgaged Property is not located
within any designated flood plain or special flood hazard area; or evidence that Borrower
has applied for and received flood insurance covering the Mortgaged Property in the amount
of the Loan or the maximum coverage available to Lender.

(f) To Borrower’s knowledge, Lender shall have received evidence of compliance
with all Governmental Requirements.

(g) Lender shall have received a copy of all recorded plat maps of the Land approved
(to the extent required by Governmental Requirements) by all Governmental Authorities, if
applicable, and legible copies of all instruments representing exceptions to the state of
title to the Mortgaged Property.

(h) Lender shall have received proof of insurance relating to the Mortgaged Property
more fully described in Section 4.7 below.

(i) Lender shall have received the Title Insurance, at the sole expense of Borrower.

(j) Lender shall have received from Borrower such other instruments, evidence and
certificates as Lender may reasonably require, including the items indicated below:

(1) Evidence that all the streets furnishing access to the Mortgaged Property
have been dedicated to public use and installed and accepted by applicable
Governmental Authorities.

(2) Current surveys of the Land prepared by a registered surveyor or engineer
and certified to Lender, Borrower and the Title Company, in form and substance
acceptable to Lender, showing the Improvements and all other improvements,
easements, building or setback lines, rights-of-way and dedications affecting the
Land and showing no state of facts objectionable to Lender.

(3) Evidence that the current and proposed use of the Land and Mortgaged
Property and the Improvements complies with all Governmental Requirements.

(4) An opinion of counsel for Borrower in form satisfactory to Lender.

(5) To the extent applicable, certificates of occupancy and all other permits
required with respect to the operation of the Improvements.

(6) Evidence that all applicable zoning ordinances and restrictive covenants
affecting the Land permit the use for which the Improvements are intended and have
been or will be complied with.

(7) Environmental site assessment reports with respect to the Mortgaged
Property prepared by a firm of engineers approved by Lender, which reports shall be
satisfactory in form and substance to Lender, certifying that there is no evidence
that any Hazardous Substance has been generated, treated, stored or disposed of on
any of the Mortgaged Property and none exists on, under or at the Mortgaged
Property.

(8) Rent rolls dated within sixty (60) days from the date hereof, for the
Improvements, in form and substance acceptable to Lender, certified as true,
complete and correct by Borrower.

(k) Lender shall have received payment of the Commitment Fee.

(l) Lender shall have obtained appraisals of the Mortgaged Property, prepared by an
appraiser acceptable to Lender and presented and based upon such standards as required by
Lender.

(m) Lender shall have received such other instruments, evidence or certificates as
Lender may reasonably request.

(n) In addition to the requirements and conditions stated elsewhere in this Agreement,
the obligation of Lender to fund the Loan, is subject to the satisfaction, occurrence and/or
existence of each of the conditions set forth in Schedule 1 attached hereto. Lender
may fund the Loan notwithstanding the fact that one or more of such conditions have not been
satisfied, have not occurred or does not exist, but such action by Lender shall not be
deemed to be a waiver of the requirement that any such condition be satisfied, have occurred
and/or exist as a condition precedent to any future disbursements by Lender pursuant to this
Agreement or any of the other Loan Documents.

(o) Borrower shall have obtained and delivered to Lender Estoppel Letters and
Non-Disturbance, Attornment and Subordination Agreements for the Major Tenants, and as
otherwise reasonably requested by Lender.

3.2 Disbursement Not an Approval. The making of any disbursement of the Loan Amount
shall not be deemed an approval or acceptance by Lender of the items which are conditions precedent
to such disbursement of the Loan and which Lender identifies in writing delivered to Borrower prior
to such disbursement as not having been approved or accepted.

3.3 No Third Party Beneficiaries. The benefits of this Agreement shall not inure to
any third party, nor shall Lender be liable for the manner in which any disbursements under this
Agreement may be applied by Borrower. Notwithstanding any provisions of the Loan Documents, or any
conduct or course of conduct by the parties hereto, before or after signing the Loan Documents,
this Agreement shall not be construed as creating any rights, claims or causes of action against
Lender, or any of its officers, directors, agents or employees, in favor of any person or entity
other than Borrower.

ARTICLE IV — WARRANTIES AND REPRESENTATIONS

Borrower hereby unconditionally warrants and represents to Lender, as of the date hereof and
at all times during the term of the Agreement, as follows:

4.1 Governmental Requirements. To Borrower’s knowledge, no material violation of any
Governmental Requirements exists or will exist with respect to the Mortgaged Property and neither
the Borrower nor any Guarantor are, nor will they be, in default with respect to any Governmental
Requirements.

4.2 Utility Services. All utility services of sufficient size and capacity necessary
for the operation of the Improvements for their intended purposes are available, including potable
water, storm and sanitary sewer, gas, electric, telephone facilities and other municipal services.

4.3 Access. All roads necessary for the full utilization of the Improvements for
their intended purposes have been completed and dedicated to the public use and accepted by the
appropriate Governmental Authority.

4.4 No Commencement. Other than contracts for ordinary and customary maintenance of
the Improvements and the completion of certain tenant improvements as described on Exhibit
“D”, as of the date of this Agreement, no contract or other agreement for construction on the
Mortgaged Property has been entered into for furnishing materials or for any other purpose, the
performance of which by the other party thereto would give rise to a lien on the Land.

4.5 Financial Statements. Each financial statement of Borrower and Guarantor
delivered heretofore, concurrently herewith or hereafter to Lender was and will be prepared in
conformity with GAAP approved by Lender in writing, applied on a basis consistent with that of
previous statements and completely and accurately disclose the financial condition of Borrower and
Guarantor (including all contingent liabilities) as of the date thereof and for the period covered
thereby, and there has been no material adverse change in either Borrower’s or Guarantor’s
financial condition subsequent to the date of the most recent financial statements of Borrower and
any Guarantor delivered to Lender, except as disclosed therein.

4.6 Statements. No certificate, statement, report or other information delivered
heretofore, concurrently herewith or hereafter by Borrower or any Guarantor to Lender in connection
herewith, or in connection with any transaction contemplated hereby, contains or will contain any
untrue statement of a material fact or fails to state any material fact necessary to keep the
statements contained therein from being misleading, and same were true, complete and accurate as of
the date hereof in all material respects.

4.7 Insurance. Borrower will obtain and maintain insurance upon and relating to
the Mortgaged Property with such insurers, in such amounts and covering such risks as shall be
reasonably satisfactory to Lender, from time to time, including but not limited to: (a) owner’s
policies of comprehensive general public liability insurance (including automobile coverage if
Lender later requires); (b) business interruption or rental loss insurance; (c) if the Mortgaged
Property is in a “Flood Hazard Area,” a flood insurance policy, or binder therefore, in an amount
equal to the principal amount of the note or the maximum amount available under the Flood Disaster
Protection Act of 1973, and regulations issued pursuant thereto, as amended from time to time,
whichever is less, in form complying with the “insurance purchase requirement” of that act; (d)
hazard insurance insuring the Improvements, if any, and all materials stored on the Land (or, with
the consent of Lender, stored elsewhere) and intended to be utilized in the construction of the
Improvements against all risks of loss, including collapse, in an amount not less than the full
replacement cost of all Improvements, including the cost of debris removal, with annual agreed
amount endorsement and sufficient at all times to prevent Borrower from becoming a coinsurer; and
(e) such other insurance, if any, as Lender may reasonably require from time to time. Each
insurance policy issued in connection herewith shall provide by way of endorsements, riders or
otherwise that: (i) with respect to liability insurance, it shall name Lender as an additional
insured and additional loss payee, with respect to the other insurance, it shall be payable to
Lender as a mortgagee and not as a coinsured, and with respect to all policies of insurance carried
by each Lessee for the benefit of the Borrower, it shall be payable to Lender as Lender’s interest
may appear; (ii) the coverage of Lender shall not be terminated, reduced, or affected in any manner
regardless of any breach or violation by Borrower of any warranties, declarations, or conditions in
such policy; (iii) no such insurance policy shall be canceled, endorsed, altered, or reissued to
effect a change in coverage for any reason and to any extent whatsoever unless such insurer shall
have first given Lender thirty (30) days’ prior written notice thereof; and (iv) Lender may, but
shall not be obligated to, make premium payments to prevent any cancellations, endorsement,
alteration, or reissuance, and such payments shall be accepted by the insurer to prevent same.
Lender shall be furnished with a certificate of insurance for each policy and if requested by
Lender, a copy of each such initial policy coincident with the execution of this Loan Agreement and
a certificate of insurance for each policy and if requested by Lender, the original of each renewal
policy not less than ten (10) days’ prior to the expiration of the initial, or each immediately
preceding renewal policy a certificate of insurance for each policy, together with receipts or
other evidence that the premiums thereon have been paid for one (1) year. Borrower may satisfy the
requirements of this Section 4.7 by use of a so-called “blanket policy,” provided that the
coverage is not diminished and the coverage is separately and individually allocated to the
Mortgaged Property.

4.8 No Proceedings. Except as disclosed to Lender on the attached Exhibit
“B”, there is no pending or to the best knowledge of Borrower threatened litigation or
proceeding which, if adversely determined, could materially and detrimentally affect the Mortgaged
Property or Borrower.

ARTICLE V — COVENANTS OF BORROWER

Borrower hereby unconditionally covenants and agrees with Lender, until the Loan shall have
been paid in full and the lien of the Deed of Trust shall have been released, as follows:

5.1 Lender’s Expenses. Borrower will reimburse Lender for all reasonable and
necessary expenses of Lender, including attorneys’ fees, incurred in connection with the
preparation, execution, delivery, administration and performance of the Loan Documents.

5.2 Estoppel Certificate. Borrower will deliver to Lender, promptly after request
therefor, estoppel certificates or written statements, duly acknowledged, stating the amount that
has been advanced to Borrower under this Agreement, the amount due on the Note, and whether any
offsets or defenses exist against the Note or any of the other Loan Documents.

5.3 Brokers. Borrower will indemnify Lender from claims of brokers arising by reason
of the execution hereof or the consummation of the transactions contemplated hereby.

5.4 Compliance with Governmental Requirements. Borrower will comply promptly with all
Governmental Requirements and if Borrower receives any notice from a Governmental Authority of
non-compliance with a Governmental Requirement, Borrower shall immediately give Lender notice.

5.5 Compliance with Restrictive Covenants. Borrower will comply with all restrictive
covenants, if any, affecting the Mortgaged Property.

5.6 Payment of Expenses. Borrower shall pay or reimburse to Lender all reasonable,
third party costs and expenses relating to the Mortgaged Property and for which a disbursement is
made, including (without limitation), title insurance and examination charges, survey costs,
insurance premiums, filing and recording fees, and other expenses payable to third parties incurred
by Lender in connection with the consummation of the transactions contemplated by this Agreement.

5.7 Notices Received. Borrower will promptly deliver to Lender a true and correct
copy of all notices received by Borrower from any person or entity with respect to Borrower,
Guarantor, the Mortgaged Property, or any or all of them, which in a material and adverse way
relates to or affects the Loan or the Mortgaged Property.

5.8 Approval to Lease Required. Borrower has obtained consent of Lender (which
consent shall not be unreasonably withheld) as to the tenant and the form of tenant lease to be
utilized in leasing the Mortgaged Property, or any part thereof, prior to entering into any lease
of any part of the Mortgaged Property, or any part thereof. Borrower shall use its best efforts to
utilize the form of such lease in leasing all or any part of the Mortgaged Property, or any part
thereof. Lender shall have the right to approval of all future leases upon giving Borrower written
notice of Lender’s requirements to approve all leases.

5.9 Leases. Upon the written request of Lender, Borrower will deliver to
Lender, upon request of Lender, executed copies of all leases and rental agreements affecting the
Mortgaged Property; and all said leases requested by Lender will contain a written provision
acceptable to Lender whereby all rights of the tenant in the lease and the Mortgaged Property are
subordinated to the liens and security interests granted in the Loan Documents. Furthermore, if
requested by Lender, Borrower shall cause to be executed and delivered to Lender a Non-Disturbance,
Attornment and Subordination Agreement, in form and substance acceptable to Lender, relating to
each such lease and fully executed by Lender, Borrower and such lessee.

5.10 Approval of Leases with Major Tenant. Borrower will deliver to lender all
proposed leases for Major Tenants to be approved by Lender in writing prior to Borrower entering
into said leases. Lender further reserves the right to approve all future leases upon giving
Borrower written notice of Lender’s requirements to approve all leases.

5.11 Statements and Reports. Borrower and Guarantor agree to deliver to Lender,
during the term of the Loan and until the Loan has been fully paid and satisfied, (i) certified
financial statements (which shall mean and include a balance sheet, income statement and contingent
liabilities for Borrower and balance sheet, cash flow and contingent liabilities for Guarantor) of
Borrower and, upon the written request of Lender, Guarantor within ninety (90) days after the end
of each calendar year, and such certified interim financial statements as may be reasonably
requested by Lender, certified to by an authorized representative of Borrower and by each
Guarantor; (ii) tax returns for Borrower and each Guarantor as soon as available, in no event later
than thirty (30) days after filing and never after November 1 of each year; (iii) quarterly
operating statements for the Mortgaged Property, within forty-five (45) days after the end of each
March 31, June 30, September 30 and December 31 , with an updated Rent Roll for the Mortgaged
Property attached thereto; and (iv) such other reports and statements pertaining to the Mortgaged
Property as Lender may reasonably require from time to time upon the request of Lender. Borrower
and Guarantors shall allow Lender from time to time to inspect all books and records relating to
Borrower’s and Guarantors’, as applicable, financial condition or to the Indebtedness, and to make
and take away copies of such books and records. If Borrower or any of Guarantors is a partnership,
joint venture, trust or other type of business association, Borrower or Guarantors shall provide
Lender with any and all financial statements and other documents and make any and all disclosures
to Lender with respect to any of the Constituent Parties (as defined herein), as Borrower or
Guarantors is required to provide and make, and in the manner required to be provided and made,
with respect to Borrower or Guarantor pursuant to this paragraph.

5.12 Taxes and Insurance. Upon the occurrence of an Event of Default, Borrower shall
pay (with the monthly payment under the Note) during the term of the Loan a monthly escrow for
taxes and insurance relating to the Mortgaged Property in an amount determined by Lender, in its
reasonable discretion, as being necessary to pay taxes and insurance premiums with respect to the
Mortgaged Property which next become due. Such annual amounts of taxes or insurance premiums shall
be fully escrowed at least one (1) month prior to the due date thereof, but in no event later than
October 1 of any calendar year during the term of the Loan. At the Closing of the Loan, Borrower
shall escrow with Lender amounts for taxes and insurance for satisfaction of the foregoing during
the first loan year. All amounts escrowed by Lender pursuant to this Section shall be placed in a
interest bearing and non-segregated account.

5.13 Annual Budget. Upon written request of Lender, Borrower shall provide to Lender
an annual budget, in form and substance reasonably acceptable to Lender, for the ensuing calendar
year on or before December 15 of the preceding year.

5.14 Management and Agent Leasing Agreement. Borrower and Manager and/or Leasing
Agency, if any, shall execute subordination agreements in form and substance acceptable to Lender,
subordinating any agreement between them, and any fees payable thereunder, to the Loan.

5.15 Debt Coverage. Notwithstanding anything in this Agreement to the
contrary, at all times during the existence of this Agreement until the Indebtedness is fully
repaid, the Borrower shall separately maintain with respect to each property comprising the
Mortgaged Property a minimum annual Net Operating Income (as defined below) to Debt Service
Coverage (as hereinafter defined) of 1.25 to 1.00 (“Debt Coverage Ratio”). In calculating the Debt
Coverage Ratio specified above, the calculation shall be computed on every March 31, June 30,
September 30 and December 31 during the term of the Loan for the previous three (3) month period,
and shall be, based on annual Net Operating Income (as herein defined) divided by the Debt Service
Coverage (as hereinafter defined) for each such period. For purposes of the Loan Documents the
term “Debt Service Coverage” shall mean the total principal and interest payments on the Loan based
on a twenty-five (25) year amortization and the current rate for the Calendar Period in question.
Borrower shall complete and submit the applicable Debt Coverage Certificate Letter within
forty-five (45) days after the end of each such period demonstrating the actual Debt Coverage Ratio
for that period. Borrower agrees that failure to achieve and maintain the required Debt Coverage
Ratio with respect to the Mortgaged Property will constitute a default under the Loan Documents,
unless its failure to meet the specified minimum ratio is cured within the ninety (90) day period
immediately following the end of the period for which the nonqualifying Debt Coverage Ratio is
calculated. The “cure” under such circumstances shall be a reduction in the principal amount of
the Loan sufficient to bring the ratio within the 1.25 to 1.00 requirement on an annualized basis.

5.16 Net Operating Income. As used in the Loan Documents, the term “Net Operating
Income” shall mean, with respect to the Mortgaged Property, for each applicable Calendar Period,
the Gross Income less Operating Expenses, determined on an accrual basis of accounting except as
otherwise provided. As used in the Loan Documents, the following terms shall have the respective
meanings set forth below:

(a) Calendar Period. As used in the Loan Documents, the term “Calendar Period”
shall mean either a calendar month or months or a calendar or fiscal (twelve month) year, as
the context in which such term is used may suggest or require.

(b) Gross Income. As used in the Loan Documents, the term “Gross Income” for
each Calendar Period shall mean rentals, revenues and other cash forms of consideration,
received by, or paid to or for the account of or for the benefit of, Borrower resulting from
or attributable to the operation, leasing and occupancy of the Mortgaged Property,
determined on a cash basis (except as specified herein), including, but not limited to, the
following:

(i) rents by any lessees or tenants of the Mortgaged Property using for all
calculations hereunder the “actual rents”;

(ii) rents and receipts received by or for the benefit of Borrower with respect
to furniture, cable television, licenses, concessions, vending machines, parking
fees, laundry fees, corporate apartment rentals and similar items relating to the
Mortgaged Property;

(iii) proceeds received by or for the benefit of Borrower in connection with
any rental loss or business interruption insurance with respect to the Mortgaged
Property;

(iv) any other fees or rents collected by, for or on behalf of Borrower with
respect to the leasing and operating the Mortgaged Property, including common area
maintenance, tax and insurance payments and payments under easements;

(v) any refunds of deposits for obtaining, using or maintaining utility
services for all or any portion of the Mortgaged Property;

(vi) interest, if any, earned by Borrower on security and other type deposits
of and advance rentals paid by, any lessees or tenants of the Mortgaged Property;
and

(vii) the amount of any security and other type deposits and advance rentals
relating to the Mortgaged Property which have been forfeited.

Notwithstanding anything included within the above definition of Gross Income, there
shall be excluded from Gross Income the following: (i) any security or other deposits of
lessees and tenants, unless and until the same actually are either applied to actual rentals
owed or other charges or fees or forfeited; (ii) the proceeds of any financing or
refinancing with respect to all or any part of the Mortgaged Property which has been
previously approved in writing by Lender; (iii) the proceeds of any sale or other capital
transaction (excluding leases for occupancy purposes only) of all or any portion of the
Mortgaged Property; (iv) any insurance or condemnation proceeds paid with respect to the
Mortgaged Property to the extent such proceeds are available and are used to restore or
rebuild the Mortgaged Property as may be permitted in accordance with the terms of the Deed
of Trust, except for rental loss or business interruption insurance; and (v) any insurance
and condemnation proceeds applied in reduction of the principal of the Note in accordance
with the terms of the Deed of Trust, the Note or the other Loan Documents; provided,
however, nothing set forth herein shall in any manner imply Lender’s consent to a sale,
refinancing or other capital transaction. Lender reserves the right to review the rent
rolls and leases relating to the Mortgaged Property as submitted by Borrower.

(c) Operating Expenses. As used in the Loan Documents, the term “Operating
Expenses” shall mean all reasonable expenses in an amount equal to those amounts actually
incurred and paid by Borrower with respect to the ownership, operation, management, leasing
and occupancy of the Mortgaged Property, determined on a cash basis, except as otherwise
specified herein, including, but not limited to, any and all of the following (but without
duplication of any item):

(i) ad valorem taxes calculated on an accrual basis (and not on the cash
basis) of accounting for the Calendar Period; such accrual accounting for ad valorem
taxes shall be based upon taxes actually assessed for the current calendar year, or
if such assessment for the current calendar year has not been made, then until such
assessment has been made (and with any retroactive adjustments for prior calendar
months as may ultimately be needed when the actual assessments has been made) ad
valorem taxes for the Calendar Period shall be estimated to be an amount equal to
one hundred percent (100%) of the assessment for the immediately preceding Calendar
Period;

(ii) foreign, U.S., state and local sales, use or other taxes except for taxes
measured by net income;

(iii) special assessments or similar charges against the Mortgaged Property;

(iv) costs of utilities, air conditioning and heating for the Mortgaged
Property to the extent not paid by lessees or tenants;

(v) maintenance and repair costs for the Mortgaged Property (except for ongoing
capital repairs);

(vi) management fees (provided, however, the amount of such management fees
which may be charged hereunder shall not exceed the sum of five percent (5%) of the
Gross Income for each applicable calendar month and, further, such management fee
shall not be calculated on units occupied on a rent-free basis by on-site employees
of Borrower, Manager or any affiliate of Borrower);

(vii) all salaries, wages and other benefits to “on-site” employees of the
Borrower or Manager, directly attributable to the Mortgaged Property, (excluding all
salaries, wages and other benefits of officers and supervisory personnel, and other
general overhead expenses of Borrower and Manager) employed in connection with the
leasing, maintenance and management of the Mortgaged Property;

(viii) insurance premiums calculated on an accrual basis (and not on the cash
basis) of accounting for the Calendar Period; such accrual accounting for insurance
premiums shall be based upon the insurance premiums for the Mortgaged Property which
were last billed to the Borrower

(ix) outside accounting and audit fees and costs and administrative expenses in
each case reasonably incurred by Borrower in connection with the direct operation
and management of the Mortgaged Property; and

(x) any payments, and any related interest thereon, to lessees or tenants of
the Mortgaged Property with respect to security deposits or other deposits required
to be paid to tenants but only to the extent any such security deposits and related
interest thereon have been previously included in Gross Income.

(xi) all expenses and payments pursuant to any leases affecting the Mortgaged
Property or the operation of the Mortgaged Property.

Notwithstanding anything to the contrary as being included in the definition of
Operating Expenses, there shall be excluded from Operating Expenses the following: (i)
depreciation and any other non-cash deduction allowed to Borrower for income tax purposes;
(ii) any compensation or fees paid to managing agents, leasing agents, brokers or other
third parties or affiliate of Borrower which are in excess of reasonable and necessary
compensation or fees which would be payable to unrelated third parties in arms’ length
transactions for similar services in the area in which the Mortgaged Property is located;
(iii) all salaries, wages and other benefits to “off-site” employees and all other general
“off-site” overhead expenses of Borrower, Manager or other professional manager of the
Mortgaged Property (except as provided in Section 5.16(c)(vi) above with respect to
management fees); (iv) any and all payments of ad valorem taxes for either real or personal
property (except for the accrual amount allowed pursuant to Section 5.16(c)(i)
above; (v) any and all payments of insurance premiums (except for the accrual amount allowed
pursuant to Section 5.16(c)(viii) above; (vi) ongoing capital repairs, including
tenant finish costs; and (vii) any and all principal, interest or other costs paid under or
with respect to the Note or Loan or with respect to any other financing with respect to the
Mortgaged Property, whether unsecured or secured by all or any portion of the Mortgaged
Property.

5.17 Transfer of Interest. Except for those dispositions which under the Deed
of Trust do not require the consent of Lender, Borrower agrees not to permit any transfer of
limited partnership interests in Borrower or its general partner without Lender’s written consent,
such consent to be granted at Lender’s sole and absolute discretion, it being understood and agreed
that no standard of commercial reasonableness will apply to such decision by Lender; and it being
further understood and agreed that Lender has relied, in part, in making the Loan upon the current
ownership structure of Borrower.

5.18 Replacement Reserve Account. INTENTIONALLY OMITTED.

5.19 Secondary Financing. Borrower agrees not to place or permit any lien in the
Mortgaged Property in order to incur secondary financing on the Mortgaged Property without Lender’s
written consent, except for such liens which already exist at the time of the execution of this
Agreement and are listed as Permitted Exceptions under the Deed of Trust.

5.20 Future Appraisals. Promptly upon Lender’s request, but not more often than every
three (3) years unless required by banking law, regulation or audit, Borrower agrees, at Borrower’s
sole cost and expense (to the extent not prohibited by applicable law), to cause an inspection and
written appraisal of the Mortgaged Property (or such parts of it as are designated in Lender’s
request) to be made by a state certified appraiser approved by Lender and if the loan (outstanding
principal balance of the Loan at the time of the appraisal) to value is greater than that required
in Section 2 hereof, Borrower will be required to grant Lender additional collateral or
make an equity contribution to bring the loan to value within said requirements.

5.21 Depository Relationship. To induce Lender to establish the interest rates
provided for in the Note, the Borrower will be required to open its tax/insurance escrow account on
a date prior to this date or on even date herewith.

5.22 Tangible Net Worth. The Guarantor, at all times, to be tested quarterly, shall
maintain a minimum Tangible Net Worth in total of not less than $20,000,000.00 plus seventy-five
percent (75%) of the aggregate amount of all net funds received by the Guarantor from offerings of
Equity Interests by the Guarantor for the period commencing on June 30, 2010 through the Maturity
Date. Tangible Net Worth means, as of any date of determination, (x) shareholders’ equity
determined in accordance with GAAP, but with no upward adjustments due to any revaluation of
assets, minus (y) all non-real estate related intangible assets, plus (z) all accumulated
depreciation and amortization, all determined in accordance with GAAP.

5.23 Funded Debt Ratio. The Guarantor shall maintain at all times, to be tested
quarterly, a maximum ratio of Funded Debt to Total Assets of fifty percent (50%). Funded Debt
means, as to any person (or consolidated group of persons) at a particular time, without
duplication, all of the following, whether or not included as indebtedness or liabilities in
accordance with GAAP: (1) all obligations for borrowed money, whether current or long-term
(including all Obligations under the Loan Documents) and all obligations evidenced by bonds,
debentures, notes, loan agreements or other similar instruments; (2) all purchase money
indebtedness (including indebtedness and obligations in respect of conditional sales and title
retention arrangements, except for customary conditional sales and title retention arrangements
with suppliers that are entered into in the ordinary course of business), and all indebtedness and
obligations in respect of the deferred purchase price of property or services (other than trade
accounts payable incurred in the ordinary course of business and payable on customary trade terms);
(3) all direct obligations under letters of credit (including bank guaranties, surety bonds,
comfort letters, keep-well agreements and capital maintenance agreements) to the extent such
instruments or agreements support financial, rather than performance, obligations; (4) all
preferred stock and comparable equity interest providing for mandatory redemption, sinking fund or
other like payments; (5) support obligations in respect of Funded Debt of another person (other
than persons in such group, if applicable); and (6) Funded Debt of any partnership or joint venture
or other similar entity in which such person is a general partner or joint venturer, and as such,
has personal liability for such obligations, but only to the extent there is recourse to such
person (or, if applicable, any person in such consolidated group) for payment thereof.

ARTICLE VI — EVENTS OF DEFAULT

6.1 Events of Default. The Events of default under the Deed of Trust, Promissory Note
or any other Loan Document shall constitute an “Event of Default” hereunder.

6.2 Remedies. Lender shall have the right, upon the happening of an Event of
Default, (subject to applicable notice and opportunity to cure), to exercise any rights or remedies
granted to Lender under this Loan Agreement or under any of the other Loan Documents, and in
addition shall have the right to enter into possession of the Mortgaged Property and perform any
and all work and labor necessary to repair or restore the Improvements to meet the requirements of
the Deed of Trust. All amounts so expended by Lender shall be deemed to have been disbursed to
Borrower as Loan proceeds and secured by the Deed of Trust. For this purpose, and upon the
occurrence of an Event of Default, Borrower hereby constitutes and appoints (which appointment is
coupled with an interest and is therefore irrevocable) Lender as Borrower’s true and lawful
attorney-in-fact, with full power of substitution to repair or restore the Improvements in the name
of Borrower, and hereby empowers Lender, acting as Borrower’s attorney-in-fact, as follows: to use
any funds of Borrower, including any balance which may be held in escrow, any funds which may
remain unadvanced hereunder, for the purpose of repairing or restoring the Improvements; to employ
such contractors, subcontractors, agents, design professionals and inspectors as shall be required
for said purposes; to pay, settle or compromise all existing bills and claims which are or may be
liens against the Mortgaged Property, or may be necessary or desirable for the repair or
restoration of the work or the clearing of title; to execute all the applications and certificates
in the name of Borrower which may be required by any construction contract; and to do any and every
act with respect to the repair or restoration of the Improvements which Borrower could do in
Borrower’s own behalf. Lender, acting as Borrower’s attorney-in-fact, shall also have power to
prosecute and defend all actions or proceedings in connection with the Mortgaged Property and to
take such action and require such performance as it deemed necessary.

ARTICLE VII — LENDER’S DISCLAIMERS — BORROWER’S INDEMNITIES

7.1 No Obligation by Lender to Operate. Any term or condition of any of the Loan
Documents to the contrary notwithstanding, Lender shall not have, and by its execution and
acceptance of this Agreement hereby expressly disclaims, any obligation or responsibility for the
management, conduct or operation of the business and affairs of Borrower. Any term or condition of
the Loan Documents which permits Lender to disburse funds, whether from the proceeds of the Loan or
otherwise, or to take or refrain from taking any action with respect to Borrower, the Mortgaged
Property or any other collateral for repayment of the Loan, shall be deemed to be solely to permit
Lender to audit and review the management, operation and conduct of the business and affairs of
Borrower, and to maintain and preserve the security given by Borrower to Lender for the Loan, and
may not be relied upon by any other person. Further, Lender shall not have, has not assumed and by
its execution and acceptance of this Agreement hereby expressly disclaims any liability or
responsibility for the payment or performance of any indebtedness or obligation of Borrower and no
term or condition of the Loan Documents, shall be construed otherwise. Borrower hereby expressly
acknowledges that no term or condition of the Loan Documents shall be construed so as to deem the
relationship between Borrower and Lender to be other then that of borrower and lender, and Borrower
shall at all times represent that the relationship between Borrower and Lender is solely that of
borrower and lender. Borrower hereby indemnifies and agrees to hold Lender harmless from and
against any cost, expense or liability incurred or suffered by Lender as a result of any assertion
or claims of any obligation or responsibility of Lender for the management, operation and conduct
of the business and affairs of Borrower, or as a result of any assertion or claims of any liability
or responsibility of Lender for the payment or performance of any indebtedness or obligation of
Borrower.

7.2 Indemnity by Borrower. Except as limited by the other Loan Documents, Borrower
hereby indemnifies Lender and each affiliate thereof and their respective officers, directors,
employees, and agents from, and holds each of them harmless against, any and all losses,
liabilities, claims, damages, costs, and expenses to which any of them may become subject, insofar
as such losses, liabilities, claims, damages, costs, and expenses arise from or relate to any of
the Loan Documents or any of the transactions contemplated thereby or from any investigation,
litigation, or other proceeding, including, without limitation, any threatened investigation,
litigation, or other proceeding relating to any of the foregoing, including, but not limited to
indemnitee’s own gross negligence or strict liability. Without intending to limit the remedies
available to Lender with respect to the enforcement of its indemnification rights as stated herein
or as stated in any Loan Document, in the event any claims or demand is made or any other fact
comes to the attention of Lender in connection with, relating or pertaining to, or arising out of
the transaction contemplated by this Agreement, which Lender reasonably believes might involve or
lead to some liability of Lender, Borrower shall, immediately upon receipt of written notification
of any such claim or demand, assume in full the personal responsibility for and the defense of any
such claim or demand and pay in connection therewith any loss, damage, deficiency, liability or
obligation, including, without limitation, legal fees and court costs incurred in connection
therewith. In the event of court action in connection with any such claim or demand, Borrower
shall assume in full the responsibility for the defense of any such action and shall immediately
satisfy and discharge any final decree or judgment rendered therein. Lender may, in its good faith
discretion, make any payments sustained or incurred by reason of any of the foregoing; and Borrower
shall immediately repay to Lender, in cash and not with proceeds of the Loan, the amount of such
payment, with interest thereon at the maximum rate of interest permitted by applicable law from the
date of such payment. Lender shall have the right to join Borrower as a party defendant in any
legal action brought against Lender, and Borrower hereby consents to the entry of an order making
Borrower a party defendant to any such action.

7.3 No Agency. Nothing herein shall be construed as making or constituting
Lender as the agent of Borrower. The purpose of all requirements of Lender hereunder is solely to
allow Lender to check and require documentation (including, but not limited to, lien waivers)
sufficient to protect Lender and the Loan contemplated hereby. Borrower shall have no right to
rely on any procedures required by Lender, Borrower hereby acknowledging that Borrower has sole
responsibility therefor.

ARTICLE VIII — ASSIGNMENTS

8.1 Assignment of Replacement Reserve Account. INTENTIONALLY OMITTED

8.2 Assignment of Management Agreement. In the event Borrower enters into a
Management Agreement, as additional security for the loan, Borrower transfers and assigns to
Lender, all funds and proceeds Borrower may receive from the Management Agreement with Lender
having the following rights:

(a) Upon the happening of an Event of Default, the Lender may send written notice to
Manager to forward all future proceeds and funds to Lender and Lender may apply all proceeds
and funds received as a payment on the Loan; and

(b) This assignment shall inure to the benefit of Lender and its successors and
assigns, any purchaser upon foreclosure of the Deed of Trust, any receiver in possession of
the Mortgaged Property and any corporation affiliated with Lender which assumes Lender’s
rights and obligations under this Agreement.

ARTICLE IX — MISCELLANEOUS

9.1 Successors and Assigns. This Agreement shall be binding upon, and shall inure to
the benefit of, Borrower and Lender, and their respective heirs, legal representatives, successors
and assigns; provided, however, that Borrower may not assign any rights or obligations under this
Agreement without the prior written consent of Lender.

9.2 Headings. The Article, Section, and Subsection entitlements hereof are inserted
for convenience of reference only and shall in no way alter, modify, define or be used in
construing the text of such Articles, Sections or Subsections.

9.3 Survival. The provisions hereof shall survive the execution of all instruments
herein mentioned, shall continue in full force and effect until the Loan has been paid in full and
shall not be affected by any investigation made by any party.

9.4 APPLICABLE LAW. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE
WITH THE LAWS OF THE STATE OF TEXAS AND THE APPLICABLE LAWS OF THE UNITED STATES OF AMERICA WITHOUT
REGARD TO ANY CONFLICT OF LAW PRINCIPLES. COURTS WITHIN THE STATE OF TEXAS SHALL HAVE JURISDICTION
OVER ANY AND ALL DISPUTES BETWEEN BORROWER AND LENDER, WHETHER IN LAW OR EQUITY, INCLUDING, BUT NOT
LIMITED TO, ANY AND ALL DISPUTES ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN
DOCUMENT; PERSONAL JURISDICTION AND VENUE IN ANY SUCH DISPUTE WHETHER IN FEDERAL OR STATE COURT
SHALL BE LAID IN BRAZOS COUNTY, TEXAS.

9.5 Notices. All notices or other communications required or permitted to be given
pursuant to this Agreement shall be in writing and shall be considered as properly given (i) if
mailed by first class United States mail, postage prepaid, registered or certified with return
receipt requested, (ii) by delivering same in person to the intended addressee, or (iii) by
delivery to an independent third party commercial delivery service for same day or next day
delivery and providing for evidence of receipt at the office of the intended addressee. Notice so
mailed shall be effective two (2) days after its deposit with the United States Postal Service or
any successor thereto; notice sent by such a commercial delivery service shall be effective upon
delivery to such commercial delivery service; notice given by personal delivery shall be effective
only if and when received by the addressee; and notice given by other means shall be effective only
if and when received at the designated address of the intended addressee. For purposes of notice,
the addresses of the parties shall be as set forth on page 1 of this Agreement; provided, however,
that either party shall have the right to change its address for notice hereunder to any other
location within the continental United States by the giving of thirty (30) days’ notice to the
other party in the manner set forth herein.

9.6 Reliance by Lender. Lender is relying and is entitled to rely upon each and all
of the provisions of this Agreement; and accordingly, if any provision or provisions of this
Agreement should be held to be invalid or ineffective, then all other provisions hereof shall
continue in full force and effect notwithstanding.

9.7 Participations. Lender shall have the right at any time and from time to
time to grant participations in the Loan and Loan Documents. Each participant shall be entitled to
receive all information received by Lender regarding the creditworthiness of Borrower, and any of
its principals, including (without limitation) information required to be disclosed to a
participant pursuant to Banking Circular 181 (Rev., August 2, 1984), issued by the Comptroller of
the Currency (whether the participant is subject to the circular or not). Lender shall require
that any participant or potential participant keep confidential any such information received from
Lender.

9.8 Controlling Agreement. This Loan Agreement has been executed and delivered in,
and the Note has been issued in, the State of Texas, and each is to be construed in accordance with
and governed by the laws of the State of Texas and the laws of the United Stated of America, as
applicable. In the event that any one or more of the provisions contained in the Loan Documents
shall, for any reason, be held invalid, illegal or unenforceable in any respect, such invalidity,
illegality or unenforceability shall not affect any other provision of the Loan Documents.
Furthermore, it is the intention of Borrower and Lender to conform strictly to applicable usury
laws, as presently in effect. Accordingly, if the transactions contemplated hereby would be
usurious under applicable law (including the laws of the State of Texas and the laws of the United
States of America), then notwithstanding anything to the contrary in the Note or any other evidence
of the indebtedness, or any agreement entered into in connection with or as security for the
indebtedness, it is agreed as follows: (i) the aggregate of all consideration which constitutes
interest under applicable law that is contracted for, charged or received under the indebtedness or
under any of the other aforesaid agreements or otherwise in connection with the indebtedness shall
under no circumstances exceed the maximum amount of interest permitted by applicable law, and any
excess shall be credited on the indebtedness by the holder thereof (or, if the indebtedness shall
have been paid in full, refunded to the Borrower); and (ii) in the event that the maturity of the
indebtedness is accelerated by reason of an election of the holder thereof resulting from any event
of default under the Loan Documents or otherwise, or in the event of any required or permitted
prepayment, then such consideration that constitutes interest may never include more than the
maximum amount permitted by applicable law, and excess interest, if any, provided for in the Loan
Documents or otherwise shall be cancelled automatically as of the date of such acceleration or
prepayment and, if theretofore paid, shall be credited on the indebtedness (or, if the indebtedness
shall have been paid in full, refunded to the Borrower).

9.9 Controlling Document. In the event of a conflict between the terms and conditions
of this Agreement and the terms and conditions of any other Loan Document, the terms and conditions
of this Agreement shall control.

9.10 DTPA Waiver. Borrower hereby waives the provisions of Chapter 17, Subchapter E,
Sections 17.41 et seq. of the Texas Business and Commerce Code, generally known as the “Deceptive
Trade Practices-Consumer Protection Act.” It is the intent of Lender and Borrower that the rights
and remedies with respect to this transaction shall be governed by legal principles other than the
Texas Deceptive Trade Practices-Consumer Protection Act. The waiver set forth herein shall
expressly survive the termination of the referenced transaction and is expressly acknowledged by
Borrower.

“WAIVER OF CONSUMER RIGHTS”

BORROWER WAIVES ITS RIGHTS UNDER THE DECEPTIVE TRADE PRACTICES-CONSUMER PROTECTION
ACT, SECTION 17.41 ET SEQ. OF THE TEXAS BUSINESS & COMMERCE CODE, A LAW THAT GIVES
CONSUMERS SPECIAL RIGHTS AND PROTECTION.

9.11 ENTIRE AGREEMENT. THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS REPRESENT THE
FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR,
CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL
AGREEMENTS BETWEEN THE PARTIES. THIS INSTRUMENT MAY BE AMENDED ONLY BY AN INSTRUMENT IN WRITING
EXECUTED BY THE PARTIES HERETO.

9.12 Recovery of Fees. If any legal action is brought to enforce this Agreement by
either of the parties hereto, it is expressly agreed that the prevailing party in such legal action
shall be entitled to recover from the other party reasonable attorney’s fees, expenses and costs.

9.13 WAIVER OF RIGHT TO TRIAL BY JURY. THE PARTIES TO THIS AGREEMENT HEREBY,
UNCONDITIONALLY AND VOLUNTARILY, WITH AND UPON THE ADVICE OF COUNSEL, WAIVE, RELINQUISH AND FOREVER
FORGO THE RIGHT TO A TRIAL BY JURY IN ANY ACTION OR PROCEEDING BASED UPON, OR ARISING OUT OF, OR IN
ANY WAY RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENTS RELATED TO THIS TRANSACTION.

IN WITNESS WHEREOF, the parties hereto have executed this Agreement to be effective as
of the day and year first above written.

BORROWER:

G & E HC REIT II SURGICAL HOSPITAL OF

HUMBLE, LLC, a Delaware limited liability company

By: /s/ Shannon K S Johnson

Name: Shannon K S Johnson

Title: Authorized Signatory

LENDER:

AMERICAN MOMENTUM BANK

By: /s/ Kevin S. Kurtz

Name: Kevin S. Kurtz

Title: Relationship Manager

GUARANTOR:

GRUBB & ELLIS HEALTHCARE REIT II, INC.,

a Maryland corporation

By: /s/ Shannon K S Johnson

Name: Shannon K S Johnson

Title: Authorized Signatory

List of Attachments:

	 	 	 
	Schedule 1

Exhibit “A”

Exhibit “B”

Exhibit “C”

Exhibit “D”

	 	Conditions Precedent to Initial Advance

Land Description

List of Pending or Threatened Litigation

DCR Certificate Letter

Improvement Contracts In-ProgressEX-10.3

Guaranty

[The Guaranty of GRUBB & ELLIS HEALTHCARE REIT II, INC. follows this cover page.]

GUARANTY

This GUARANTY (“Guaranty”) is effective as of December 9, 2010 by GRUBB & ELLIS
HEALTHCARE REIT II, INC., a Maryland corporation (“Guarantor”), for the benefit of AMERICAN
MOMENTUM BANK (“Lender”).

W I T N E S S E T H:

WHEREAS, Lender has entered into a Loan Agreement (“Loan Agreement”) effective as of the
effective date above, with G & E HC REIT II SURGICAL HOSPITAL OF HUMBLE, LLC (“Borrower”), pursuant
to which Borrower has executed that certain Promissory Note for NINE MILLION AND NO/100 DOLLARS
($9,000,000.00) (the “Loan”) (together with all renewals, modifications, increases and extensions
thereof, referred to as the “Note”) under which Borrower has become indebted, and may from time to
time be further indebted, to Lender with respect to the Loan which is secured by the liens and
security interests of a deed of trust and a security agreement, each of even date herewith, and
further evidenced, secured or governed by other instruments and documents executed in connection
with the Loan (collectively the “Loan Documents”); and

WHEREAS, Lender is not willing to make the Loan, or otherwise extend credit, to Borrower
unless Guarantor guarantees payment to Lender of the Guaranteed Debt (as herein defined) pursuant
to the following terms; and

WHEREAS, Guarantor will directly benefit from Lender’s making the Loan to Borrower.

NOW, THEREFORE, as an inducement to Lender to enter into the Loan Agreement and to make loans
to Borrower thereunder, and to extend such additional credit as Lender may from time to time agree
to extend thereunder, and for other good and valuable consideration, the receipt and legal
sufficiency of which are hereby acknowledged, the parties do hereby agree as follows:

ARTICLE 1

NATURE AND SCOPE OF GUARANTY

1.1 Guaranty of Obligation. Guarantor hereby irrevocably and unconditionally
guarantees to Lender and its successors and assigns the payment and performance of the “Guaranteed
Debt” (as herein defined) as and when the same shall be due and payable, whether by lapse of time,
by acceleration of maturity or otherwise. Guarantor hereby irrevocably and unconditionally
covenants and agrees that Guarantor is liable for the Guaranteed Debt as a primary obligor.

1.2 Definition of Guaranteed Debt. As used herein, the term “Guaranteed Debt” means
all of the following:

(a) all principal, interest, attorneys’ fees, commitment fees, liabilities for costs
and expenses and other indebtedness, obligations and liabilities of Borrower to Lender at
any time created or arising in connection with the Loan, or any amendment thereto or
substitution therefor, including but not limited to all indebtedness, obligations and
liabilities of Borrower to Lender arising under the Note, or under any renewals,
modifications, increases and extensions of the Note, or under the Loan Documents;

(b) all liabilities of Borrower for future advances, extensions of credit, sales on
account or other value at any time given or made by Lender to Borrower arising under the
Loan Documents, whether or not the advances, credit or value are given pursuant to
commitment;

(c) any and all other indebtedness, liabilities, obligations and duties of every kind
and character of Borrower to Lender arising under the Loan Documents, whether now or
hereafter existing or arising, regardless of whether such present or future indebtedness,
liabilities, obligations or duties be direct or indirect, related or unrelated, liquidated
or unliquidated, primary or secondary, joint, several, or joint and several, or fixed or
contingent;

(d) any and all post-petition interest and expenses (including attorney’s fees) whether
or not allowed under any bankruptcy, insolvency, or other similar law; and

(e) all costs, expenses and fees, including but not limited to court costs and
attorneys’ fees, arising in connection with the collection of any or all amounts,
indebtedness, obligations and liabilities of Borrower to Lender described in items (a)
through (d) of this Section.

1.3 Nature of Guaranty. This Guaranty is an irrevocable, absolute, continuing
guaranty of payment and performance and not a guaranty of collection. This Guaranty may not be
revoked by Guarantor and shall continue to be effective with respect to any Guaranteed Debt arising
or created after any attempted revocation by Guarantor and after Guarantor’s death (in which event
this Guaranty shall be binding upon such Guarantor’s estate and Guarantor’s legal representative
and heirs). This Guaranty may be enforced by Lender and any subsequent holder of the Guaranteed
Debt and shall not be discharged by the assignment or negotiation of all or part of the Guaranteed
Debt.

1.4 Guaranteed Debt Not Reduced by Offset. The Guaranteed Debt and the liabilities
and obligations of Guarantor to Lender hereunder, shall not be reduced, discharged or released
because or by reason of any existing or future offset, claim or defense of Borrower, or any other
party, against Lender or against payment of the Guaranteed Debt, whether such offset, claim or
defense arises in connection with the Guaranteed Debt (or the transactions creating the Guaranteed
Debt) or otherwise. Without limiting the foregoing or Guarantor’s liability hereunder, to the
extent that Lender advances funds pursuant to the Note and does not receive payments or benefits
thereon in the amounts and at the times required or provided in the Note, Guarantor is absolutely
liable to make such payments to (and confer such benefits on) Lender, on a timely basis.

1.5 Payment by Guarantor. If all or any part of the Guaranteed Debt shall not be
punctually paid when due, whether at maturity or earlier by acceleration or otherwise, Guarantor
shall, immediately upon demand by Lender, and without presentment, protest, notice of protest,
notice of non-payment, notice of intention to accelerate the maturity, notice of acceleration of
the maturity, or any other notice whatsoever, pay in lawful money of the United States of America,
the amount due on the Guaranteed Debt to Lender at Lender’s address as set forth herein. Such
demand(s) may be made at any time coincident with or after the time for payment of all or part of
the Guaranteed Debt, and may be made from time to time with respect to the same or different items
of Guaranteed Debt. Such demand shall be deemed made, given and received in accordance with the
notice provisions hereof.

1.6 No Duty to Pursue Others. It shall not be necessary for Lender (and Guarantor
hereby waives any rights which such Guarantor may have to require Lender), in order to enforce such
payment by Guarantor, first to (i) institute suit or exhaust its remedies against Borrower or
others liable on the Guaranteed Debt or any other person, (ii) enforce Lender’s rights against any
collateral which shall ever have been given to secure the Guaranteed Debt, (iii) join Borrower or
any others liable on the Guaranteed Debt in any action seeking to enforce this Guaranty, (iv)
exhaust any remedies available to Lender against any collateral which shall ever have been given to
secure the Guaranteed Debt, or (v) resort to any other means of obtaining payment of the Guaranteed
Debt. Lender shall not be required to mitigate damages or take any other action to reduce, collect
or enforce the Guaranteed Debt.

1.7 Waivers. Guarantor agrees to the provisions to the Loan Documents, and hereby
waives notice of (i) any loans or advances made by Lender to Borrower, (ii) acceptance of this
Guaranty, (iii) any amendment or extension of the Note or of any other Loan Documents, (iv) the
execution and delivery by Borrower and Lender of any other loan or credit agreement or of
Borrower’s execution and delivery of any promissory notes or other documents arising under the Loan
documents or in connection with the Mortgaged Property (as defined in the Loan Documents), (v) the
occurrence of any breach by Borrower or Event of Default (as defined in the Loan Documents), (vi)
Lender’s transfer or disposition of the Guaranteed Debt, or any part thereof, (vii) sale or
foreclosure (or posting or advertising for sale or foreclosure) of any collateral for the
Guaranteed Debt, (viii) protest, proof of non-payment or default by Borrower, or (ix) any other
action at any time taken or omitted by Lender, and, generally, all demands and notices of every
kind in connection with this Guaranty, the Loan Documents, any documents or agreements evidencing,
securing or relating to any of the Guaranteed Debt and the obligations hereby guaranteed. The
parties intend that Guarantor shall not be considered a “debtor” as defined in Tex.
Bus. & Com. Code Ann. § 9.102 (and any successor statute
thereto).

1.8 Payment of Expenses. In the event that Guarantor should breach or fail to timely
perform any provisions of this Guaranty, Guarantor shall, immediately upon demand by Lender, pay
Lender all costs and expenses (including court costs and attorneys’ fees) incurred by Lender in the
enforcement hereof or the preservation of Lender’s rights hereunder. The covenant contained in
this Section shall survive the payment of the Guaranteed Debt.

1.9 Effect of Bankruptcy. In the event that, pursuant to any insolvency, bankruptcy,
reorganization, receivership or other debtor relief law, or any judgment, order or decision
thereunder, Lender must rescind or restore any payment, or any part thereof, received by Lender in
satisfaction of the Guaranteed Debt, as set forth herein, any prior release or discharge from the
terms of this Guaranty given to Guarantor by Lender shall be without effect, and this Guaranty
shall remain in full force and effect. It is the intention of Borrower and Guarantor that
Guarantor’s obligations hereunder shall not be discharged except by Guarantor’s performance of such
obligations and then only to the extent of such performance.

1.10 Subrogation. Upon payment to Lender in full of the Guaranteed Debt by
Guarantor, Lender shall not contest the subrogation of Guarantor to the rights of Lender under the
Loan Documents, provided, however, that Guarantor’s rights under such subrogation shall be and
remain subordinate and inferior to the rights of Lender under the Loan Documents until and unless
all amounts due Lender by Borrower under the Loan Documents shall be paid in full.

1.11 Waiver of Subrogation, Reimbursement and Contribution. Notwithstanding anything
to the contrary contained in this Guaranty, until such time as the Guaranteed Debt has been paid in
full, but not thereafter, Guarantor hereby unconditionally and irrevocably waives, releases and
abrogates any and all rights it may now or hereafter have under any agreement, at law or in equity
(including, without limitation, any law subrogating the Guarantor to the rights of Lender) to
assert any claim against or seek contribution, indemnification or any other form of reimbursement
from Borrower or any other party liable for payment of any or all of the Guaranteed Debt for any
payment made by Guarantor under or in connection with this Guaranty or otherwise.

1.12 “Borrower". The term “Borrower” as used herein shall include any new or
successor corporation, association, partnership (general or limited), joint venture, trust or other
individual or organization formed as a result of any merger, reorganization, sale, transfer,
devise, gift or bequest of Borrower or any interest in Borrower.

1.13 Cancellation. Lender shall return this Guaranty marked canceled and paid to
GRUBB & ELLIS HEALTHCARE REIT II, INC. at the address of Guarantor upon full and complete payment
of the Guaranteed Debt within a reasonable time thereafter.

ARTICLE 2

EVENTS AND CIRCUMSTANCES NOT REDUCING

OR DISCHARGING GUARANTOR’S OBLIGATIONS

Guarantor hereby consents and agrees to each of the following, and agrees that Guarantor’s
obligations under this Guaranty shall not be released, diminished, impaired, reduced or adversely
affected by any of the following, and waives any common law, equitable, statutory or other rights
(including without limitation rights to notice) which Guarantor might otherwise have as a result of
or in connection with any of the following:

2.1 Modifications. Any renewal, extension, increase, modification, alteration or
rearrangement of all or any part of the Guaranteed Debt, Note, Loan Documents, or other document,
instrument, contract or understanding between Borrower and Lender, or any other parties, pertaining
to the Guaranteed Debt or any failure of Lender to notify Guarantor of any such action.

2.2 Adjustment. Any adjustment, indulgence, forbearance or compromise that might be
granted or given by Lender to Borrower or Guarantor.

2.3 Condition of Borrower or Guarantor. The insolvency, bankruptcy, arrangement,
adjustment, composition, liquidation, disability, dissolution or lack of power of Borrower,
Guarantor or any other party at any time liable for the payment of all or part of the Guaranteed
Debt; or any dissolution of Borrower or Guarantor, or any changes in the shareholders, partners or
members of Borrower or Guarantor; or any reorganization of Borrower or Guarantor.

2.4 Invalidity of Guaranteed Debt. The invalidity, illegality or unenforceability of
all or any part of the Guaranteed Debt, or any document or agreement executed in connection with
the Guaranteed Debt, for any reason whatsoever, including without limitation the fact that (i) the
Guaranteed Debt, or any part thereof, exceeds the amount permitted by law, (ii) the act of creating
the Guaranteed Debt or any part thereof is ultra vires, (iii) the officers or
representatives executing the Note or the other Loan Documents or otherwise creating the Guaranteed
Debt acted in excess of their authority, (iv) the Guaranteed Debt violates applicable usury laws,
(v) the Borrower has valid defenses, claims or offsets (whether at law, in equity or by agreement)
which render the Guaranteed Debt wholly or partially uncollectible from Borrower, (vi) the
creation, performance or repayment of the Guaranteed Debt (or the execution, delivery and
performance of any document or instrument representing part of the Guaranteed Debt or executed in
connection with the Guaranteed Debt, or given to secure the repayment of the Guaranteed Debt) is
illegal, uncollectible or unenforceable, or (vii) the Note or any of the other Loan Documents have
been forged or otherwise are irregular or not genuine or authentic, it being agreed that Guarantor
shall remain liable hereon regardless of whether Borrower or any other person be found not liable
on the Guaranteed Debt or any part thereof for any reason.

2.5 Release of Obligors. Any full or partial release of the liability of
Borrower on the Guaranteed Debt, or any part thereof, or any other person or entity now or
hereafter liable, whether directly or indirectly, jointly, severally, or jointly and severally, to
pay, perform, guarantee or assure the payment of the Guaranteed Debt, or any part thereof, it being
recognized, acknowledged and agreed by Guarantor that Guarantor may be required to pay the
Guaranteed Debt in full without assistance or support of any other party, and Guarantor has not
been induced to enter into this Guaranty on the basis of a contemplation, belief, understanding or
agreement that other parties will be liable to pay or perform the Guaranteed Debt, or that Lender
will look to other parties to pay or perform the Guaranteed Debt.

2.6 Other Collateral. The taking or accepting of any other security, collateral or
guaranty, or other assurance of payment, for all or any part of the Guaranteed Debt.

2.7 Release of Collateral. Any release, surrender, exchange, subordination,
deterioration, waste, loss or impairment (including without limitation negligent, willful,
unreasonable or unjustifiable impairment) of any collateral, property or security, at any time
existing in connection with, or assuring or securing payment of, all or any part of the Guaranteed
Debt.

2.8 Care and Diligence. The failure of Lender or any other party to exercise
diligence or reasonable care in the preservation, protection, enforcement, sale or other handling
or treatment of all or any part of such collateral, property or security, including but not limited
to any neglect, delay, omission, failure or refusal of Lender (i) to take or prosecute any action
for the collection of any of the Guaranteed Debt or (ii) to foreclose, or initiate any action to
foreclose, or, once commenced, prosecute to completion any action to foreclose upon any security
therefor, or (iii) to take or prosecute any action in connection with any instrument or agreement
evidencing or securing all or any part of the Guaranteed Debt.

2.9 Unenforceability. The fact that any collateral, security, security interest or
lien contemplated or intended to be given, created or granted as security for the repayment of the
Guaranteed Debt, or any part thereof, shall not be properly perfected or created, or shall prove to
be unenforceable or subordinate to any other security interest or lien, it being recognized and
agreed by Guarantor that Guarantor is not entering into this Guaranty in reliance on, or in
contemplation of the benefits of, the validity, enforceability, collectability or value of any of
the collateral for the Guaranteed Debt.

2.10 Offset. The Note, the Guaranteed Debt and the liabilities and obligations of
Guarantor to Lender hereunder, shall not be reduced, discharged or released because of or by reason
of any existing or future right of offset, claim or defense of Borrower against Lender, or any
other party, or against payment of the Guaranteed Debt, whether such right of offset, claim or
defense of Borrower against Lender, or any other party, or against payment of the Guaranteed Debt
(or the transactions creating the Guaranteed Debt) or otherwise.

2.11 Merger. The reorganization, merger or consolidation of Borrower into or with any
other corporation or entity.

2.12 Preference. Any payment by Borrower to Lender is held to constitute a preference
under bankruptcy laws, or for any reason Lender is required to refund such payment or pay such
amount to Borrower or someone else.

2.13 Other Actions Taken or Omitted. Any other action taken or omitted to be taken
with respect to the Loan Documents, the Guaranteed Debt, or the security and collateral therefor,
whether or not such action or omission prejudices Guarantor or increases the likelihood that
Guarantor will be required to pay the Guaranteed Debt pursuant to the terms hereof, it is the
unambiguous and unequivocal intention of Guarantor that Guarantor shall be obligated to pay the
Guaranteed Debt when due, notwithstanding any occurrence, circumstance, event, action, or omission
whatsoever, whether contemplated or uncontemplated, and whether or not otherwise or particularly
described herein, which obligation shall be deemed satisfied only upon the full and final payment
and satisfaction of the Guaranteed Debt.

Notwithstanding any provisions of this Article 2 to the contrary, Guarantor does not
waive, and hereby expressly reserves, any and all rights Guarantor may have pursuant to the
provisions of Section 51.003 of the Texas Property Code.

ARTICLE 3

REPRESENTATIONS AND WARRANTIES

To induce Lender to enter into the Loan Documents and extend credit to Borrower, Guarantor
represents and warrants to Lender as follows:

3.1 Benefit. Such Guarantor is an affiliate of Borrower, is the owner of a direct or
indirect interest in Borrower, or has received, or will receive, direct or indirect benefit from
the making of this Guaranty with respect to the Guaranteed Debt.

3.2 Familiarity and Reliance. Such Guarantor is familiar with, and has
independently reviewed books and records regarding, the financial condition of the Borrower and is
familiar with the value of any and all collateral intended to be created as security for the
payment of the Note or Guaranteed Debt; however, such Guarantor is not relying on such financial
condition or the collateral as an inducement to enter into this Guaranty.

3.3 No Representation by Lender. Neither Lender nor any other party has made any
representation, warranty or statement to such Guarantor in order to induce the Guarantor to execute
this Guaranty.

3.4 Guarantor’s Financial Condition. As of the date hereof, and after giving effect
to this Guaranty and the contingent obligation evidenced hereby, Guarantor is solvent.

3.5 Legality. The execution, delivery and performance by such Guarantor of this
Guaranty and the consummation of the transactions contemplated hereunder do not, and will not,
contravene or conflict with any law, statute or regulation whatsoever to which such Guarantor is
subject or constitute a default (or an event which with notice or lapse of time or both would
constitute a default) under, or result in the breach of, any indenture, mortgage, deed of trust,
charge, lien, or any contract, agreement or other instrument to which Guarantor is a party or which
may be applicable to such Guarantor. This Guaranty is a legal and binding obligation of such
Guarantor and is enforceable in accordance with its terms, except as limited by bankruptcy,
insolvency or other laws of general application relating to the enforcement of creditors’ rights.

3.6 Survival. All representations and warranties made by such Guarantor herein shall
survive the execution hereof.

ARTICLE 4

SUBORDINATION OF CERTAIN INDEBTEDNESS

4.1 Subordination of All Guarantor Claims. As used herein, the term “Guarantor’s
Claims” shall mean all debts and liabilities of Borrower to Guarantor, whether such debts and
liabilities now exist or are hereafter incurred or arise, or whether the obligations of Borrower
thereon be direct, contingent, primary, secondary, several, joint and several, or otherwise, and
irrespective of whether such debts or liabilities be evidenced by note, contract, open account, or
otherwise, and irrespective of the person or persons in whose favor such debts or liabilities may,
at their inception, have been, or may hereafter be created, or the manner in which they have been
or may hereafter be acquired by Guarantor. The Guarantor’s Claims shall include without limitation
all rights and claims of Guarantor against Borrower (arising as a result of subrogation or
otherwise) as a result of Guarantor’s payment of all or a portion of the Guaranteed Debt. Upon the
occurrence of an Event of Default (as defined in the Loan Documents) or the occurrence of an event
which would, with the giving of notice or the passage of time, or both, constitute an Event of
Default, Guarantor hereby agrees that it shall not receive or collect, directly or indirectly, from
Borrower or any other party any amount upon the Guarantor Claims until the Guaranteed Debt has been
paid in full.

4.2 Claims in Bankruptcy. In the event of receivership, bankruptcy, reorganization,
arrangement, debtor’s relief, or other insolvency proceedings involving Guarantor as debtor, Lender
shall have the right to prove Lender’s claim in any such proceeding so as to establish Lender’s
rights hereunder and receive directly from the receiver, trustee or other court custodian dividends
and payments which would otherwise be payable upon Guarantor’s Claims. Guarantor hereby assigns
such dividends and payments to Lender. Should Lender receive, for application upon the Guaranteed
Debt, any such dividend or payment which is otherwise payable to Guarantor, and which, as between
Borrower and Guarantor, shall constitute a credit upon the Guarantor’s Claims, then upon payment to
Lender in full of the Guaranteed Debt, Guarantor shall become subrogated to the rights of Lender to
the extent that such payments to Lender on the Guarantor’s Claims have contributed toward the
liquidation of the Guaranteed Debt, and such subrogation shall be with respect to the proportion of
the Guaranteed Debt which would have been unpaid if Lender had not received dividends or payments
upon the Guarantor’s Claims.

4.3 Payments Held in Trust. In the event that, notwithstanding anything to the
contrary in this Guaranty, Guarantor should receive any funds, payment, claim or distribution which
is prohibited by this Guaranty, Guarantor agrees to hold in trust for Lender an amount equal to the
amount of all funds, payments, claims or distributions so received, and agrees that Guarantor shall
have absolutely no dominion over the amount of such funds, payments, claims or distributions so
received except to pay them promptly to Lender, and Guarantor covenants promptly to pay the same to
Lender.

4.4 Liens Subordinate. Guarantor agrees that any liens, security interests,
judgment liens, charges or other encumbrances upon Borrower’s assets securing payment of the
Guarantor’s Claims shall be and shall remain inferior and subordinate to any liens, security
interests, judgment liens, charges or other encumbrances upon Borrower’s assets securing payment of
the Guaranteed Debt, regardless of whether such encumbrances in favor of Guarantor or Lender
presently exist or are hereafter created or attach. Without the prior written consent of Lender,
Guarantor shall not (i) exercise or enforce any creditor’s right Guarantor may have against
Borrower, or (ii) foreclose, repossess, sequester or otherwise take steps or institute any action
or proceedings (judicial or otherwise, including without limitation the commencement of, or joinder
in, any liquidation, bankruptcy, rearrangement, debtor’s relief or insolvency proceeding) to
enforce any liens, mortgages, deeds of trust, security interest, collateral rights, judgments or
other encumbrances on assets of Borrower held by Guarantor.

ARTICLE 5

MISCELLANEOUS

5.1 Waiver. No failure to exercise, and no delay in exercising, on the part of
Lender, any right hereunder shall operate as a waiver thereof, nor shall any single or partial
exercise thereof preclude any other or further exercise thereof or the exercise of any other right.
The rights of Lender hereunder shall be in addition to all other rights provided by law. No
modification or waiver of any provision of this Guaranty, nor consent to departure therefrom, shall
be effective unless in writing and no such consent or waiver shall extend beyond the particular
case and purpose involved. No notice or demand given in any case shall constitute a waiver of the
right to take other action in the same, similar or other instances without such notice or demand.

5.2 Notices. Any notices or other communications required or permitted to be given by
this Guaranty must be given in writing and either (i) mailed by prepaid certified or registered
mail, return receipt requested, addressed to the party at the address herein provided, (ii) by
delivery to a third party commercial delivery service with evidence of delivery to the office of
the addressee, or (iii) by personal delivery to the addressee. The addressee of the parties hereto
are as follows:

	 	 	 
	Guarantor:

	 	

	 

	 	

	GRUBB & ELLIS HEALTHCARE REIT II, INC.

1551 N. Tustin Avenue, Suite 300

Santa Ana, CA 90278

ATTENTION: DANNY PROSKY

FAX NO.: (714) 667-0611

	 	

	Lender:

	 	with a copy to:
	 

	 	 
	AMERICAN MOMENTUM BANK

One Momentum Boulevard

College Station, Texas 77845

ATTENTION: KEVIN S. KURTZ

FAX NO.: (979) 599-9375

	 	PAYNE, MALECHEK, SCHERR, CAMPBELL

& MOORE, P.C.

P.O. BOX 6900

BRYAN, TEXAS 77805-6900

ATTENTION: TREY MALECHEK

FAX NO.: (979) 731-8333

Any such notice or other communication shall be deemed to have been given (whether actually
received or not) on the day it is delivered to the U.S. Post Office or third party delivery service
as aforesaid or if delivered by other means, then upon actual receipt by the addressee. Any party
may change its address for purposes of this Guaranty by giving notice of such change to the other
party pursuant to this Section.

5.3 Governing Law. THIS GUARANTY IS EXECUTED AND DELIVERED AS AN INCIDENT TO A
LENDING TRANSACTION NEGOTIATED, CONSUMMATED, AND PERFORMABLE IN BRAZOS COUNTY, TEXAS, AND SHALL BE
GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF TEXAS. Any action or
proceeding against Guarantor under or in connection with this Guaranty may be brought in any state
or federal court in Brazos County, Texas. Guarantor hereby irrevocably (i) submits to the
nonexclusive jurisdiction of such courts, and (ii) waives any objection it may now or hereafter
have as to the venue of any such action or proceeding brought in such court or that such court is
an inconvenient forum. Guarantor agrees that service of process upon it may be made by certified
or registered mail, return receipt requested, at its address specified herein. Nothing herein
shall affect the right of Lender to serve process in any other matter permitted by law or shall
limit the right of Lender to bring any action or proceeding against Guarantor or with respect to
any of Guarantor’s property in courts in other jurisdictions. Any action or proceeding by
Guarantor against Lender shall be brought only in a court located in Brazos County, Texas.

5.4 Invalid Provisions. If any provision of the Guaranty is held to be
illegal, invalid, or unenforceable under present or future laws effective during the term of this
Guaranty, such provision shall be fully severable and this Guaranty shall be construed and enforced
as if such illegal, invalid or unenforceable provision had never comprised a part of this Guaranty,
and the remaining provisions of this Guaranty shall remain in full force and effect and shall not
be affected by the illegal, invalid or unenforceable provision or by its severance from this
Guaranty, unless such continued effectiveness of this Guaranty, as modified, would be contrary to
the basic understandings and intentions of the parties as expressed herein.

5.5 Amendments. This Guaranty may be amended only by an instrument in writing
executed by the party or an authorized representative of the party against whom such amendment is
sought to be enforced.

5.6 Parties Bound; Assignment. This Guaranty shall be binding upon and inure to the
benefit of the parties hereto and their respective successors, assigns and legal representatives;
provided, however, that Guarantor may not, without the prior written consent of Lender, assign any
of Guarantor’s rights, powers, duties or obligations hereunder.

5.7 Headings. Section headings are for convenience of reference only and shall in no
way affect the interpretation of this Guaranty.

5.8 Recitals. The recital and introductory paragraphs hereof are a part hereof, form
a basis for this Guaranty and shall be considered prima facie evidence of the facts
and documents referred to therein.

5.9 Counterparts. To facilitate execution, this Guaranty may be executed in as many
counterparts as may be convenient or required. It shall not be necessary that the signature or
acknowledgment of, or on behalf of, each party, or that the signature of all persons required to
bind any party, or the acknowledgment of such party, appear on each counterpart. All counterparts
shall collectively constitute a single instrument. It shall not be necessary in making proof of
this Guaranty to produce or account for more than a single counterpart containing the respective
signatures of, or on behalf of, and the respective acknowledgments of, each of the parties hereto.
Any signature or acknowledgment page to any counterpart may be detached from such counterpart
without impairing the legal effect of the signatures or acknowledgments thereon and thereafter
attached to another counterpart identical thereto except having attached to it additional signature
or acknowledgment pages.

5.10 Rights and Remedies. If Guarantor becomes liable for any indebtedness owing by
Borrower to Lender, by endorsement or otherwise, other than under this Guaranty, such liability
shall not be in any manner impaired or affected hereby and the rights of Lender hereunder shall be
cumulative of any and all other rights that Lender may ever have against such Guarantor. The
exercise by Lender of any right or remedy hereunder or under any other instrument, or at law or in
equity, shall not preclude the concurrent or subsequent exercise of any other right or remedy.

5.11 Funding Prohibited without Guarantor’s Execution and Delivery. Guarantor hereby
acknowledges that the Loan will not be funded unless Guarantor executes and delivers this Guaranty
prior to funding.

5.12 ENTIRETY. THIS GUARANTY EMBODIES THE FINAL, ENTIRE AGREEMENT OF GUARANTOR AND
LENDER WITH RESPECT TO GUARANTOR’S GUARANTY OF THE GUARANTEED DEBT AND SUPERSEDES ANY AND ALL PRIOR
COMMITMENTS, AGREEMENTS, REPRESENTATIONS, AND UNDERSTANDINGS, WHETHER WRITTEN OR ORAL, RELATING TO
THE SUBJECT MATTER HEREOF. THIS GUARANTY IS INTENDED BY GUARANTOR AND LENDER AS A FINAL AND
COMPLETE EXPRESSION OF THE TERMS OF THE GUARANTY, AND NO COURSE OF DEALING BETWEEN GUARANTOR AND
LENDER, NO COURSE OF PERFORMANCE, NO TRADE PRACTICES, AND NO EVIDENCE OF PRIOR, CONTEMPORANEOUS OR
SUBSEQUENT ORAL AGREEMENTS OR DISCUSSIONS OR OTHER EXTRINSIC EVIDENCE OF ANY NATURE SHALL BE USED
TO CONTRADICT, VARY, SUPPLEMENT OR MODIFY ANY TERM OF THIS GUARANTY AGREEMENT. THERE ARE NO ORAL
AGREEMENTS BETWEEN GUARANTOR AND LENDER.

5.13 WAIVER OF RIGHT TO TRIAL BY JURY. THE PARTIES TO THIS AGREEMENT HEREBY,
UNCONDITIONALLY AND VOLUNTARILY, WITH AND UPON THE ADVICE OF COUNSEL, WAIVE, RELINQUISH AND FOREVER
FORGO THE RIGHT TO A TRIAL BY JURY IN ANY ACTION OR PROCEEDING BASED UPON, OR ARISING OUT OF, OR IN
ANY WAY RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENTS RELATED TO THIS TRANSACTION.

EXECUTED as of the day and year first above written.

GUARANTOR:

GRUBB & ELLIS HEALTHCARE REIT II, INC.,

a Maryland corporation

By: /s/ Shannon K S Johnson

Name: Shannon K S Johnson

Title: Authorized Signatory

	 	 	 
	State of California

County of Orange

	 	)

) ss.

)

On December 8, 2010 before me, P.C. Han, Notary Public, personally appeared Shannon K S Johnson,
who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are
subscribed to the within instrument and acknowledged to me that he/she/they executed the same in
his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument
the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument.

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

WITNESS my hand and official seal.

Signature /s/ P.C. Han (Seal)

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