Document:

Exhibit 4.2

 

	
 
    

 

ECOLAB INC.

 

$500,000,000 2.375% Notes due 2022

 

SIXTH SUPPLEMENTAL INDENTURE

 

Dated as of August 10, 2017

 

to

 

Indenture dated as of January 12, 2015

 

WELLS FARGO BANK, NATIONAL ASSOCIATION

 

Trustee

 

	
 
    

 

 

This SIXTH SUPPLEMENTAL INDENTURE (this “Sixth Supplemental Indenture”) dated as of August 10, 2017, is between ECOLAB INC., a Delaware corporation (the “Company”), and WELLS FARGO BANK, NATIONAL ASSOCIATION (the “Trustee”).

 

RECITALS

 

WHEREAS, the Company has heretofore executed and delivered to the Trustee an indenture, dated as of January 12, 2015 (the “Existing Indenture,” and, together with this Sixth Supplemental Indenture, the “Indenture”), providing for the issuance by the Company from time to time of its debt securities to be issued in one or more series;

 

WHEREAS, the Company, in the exercise of the power and authority conferred upon and reserved to it under the provisions of the Existing Indenture and pursuant to appropriate resolutions of the Board of Directors, has duly determined to make, execute and deliver to the Trustee this Sixth Supplemental Indenture to the Existing Indenture in order to issue a new series of debt securities to be designated as the “2.375% Notes due 2022” (the “Notes”), and to set forth the terms that will be applicable thereto and the forms thereof;

 

WHEREAS, the Company has duly determined to appoint Wells Fargo Bank, National Association as Trustee, Registrar and Paying Agent under the Indenture with respect to the Notes and Wells Fargo Bank, National Association is willing to accept such appointment with respect to the Notes;

 

WHEREAS, Sections 2.01, 3.01 and 13.01 and of the Existing Indenture provide, among other things, that the Company and the Trustee may, without the consent of Holders, enter into indentures supplemental to the Existing Indenture to provide for specific terms applicable to any series of notes and to add to the covenants of the Company for the benefit of the Holders of each series of notes (and if such covenants are to be for the benefit of less than all series of notes, stating that such covenants are expressly being included solely for the benefit of such series); and

 

WHEREAS, all things necessary to make the Notes, when executed by the Company and authenticated and delivered by the Trustee or any Authenticating Agent and issued upon the terms and subject to the conditions set forth hereinafter and in the Indenture against payment therefor, the valid, binding and legal obligations of the Company and to make this Sixth Supplemental Indenture a valid, binding and legal agreement of the Company, have been done.

 

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

 

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ARTICLE I

 

APPLICATION OF SIXTH SUPPLEMENTAL INDENTURE
 AND CREATION OF NOTES

 

Section 1.01          Application of this Sixth Supplemental Indenture.

 

Notwithstanding any other provision of this Sixth Supplemental Indenture, pursuant to Section 13.01 of the Existing Indenture, the provisions of this Sixth Supplemental Indenture, including the covenants set forth herein, are expressly being included solely for the benefit of the Holders of the Notes.  The Notes constitute a series of notes as provided in Section 3.01 of the Existing Indenture.

 

Section 1.02          Designation and Amount of Notes.

 

The Notes shall be known and designated as the “2.375% Notes due 2022.”  The Notes shall be unsecured and unsubordinated obligations of the Company.  The initial maximum aggregate principal amount of Notes that may be authenticated and delivered under this Sixth Supplemental Indenture shall not exceed $500,000,000, except for Notes authenticated and delivered upon registration or transfer of, or in exchange for, or in lieu of, Notes pursuant to Sections 3.04, 3.06, 3.07 and 4.06 of the Existing Indenture.  Notwithstanding the foregoing, the Company may from time to time, without giving notice to or seeking the consent of the Holders of the Notes, issue debt securities having the same terms (except for the issue date, and, in some cases, the public offering price and the first Interest Payment Date) and ranking equally and ratably with the Notes (“Additional Notes”).  The Notes and Additional Notes shall together constitute one series for purposes of the Existing Indenture and this Sixth Supplemental Indenture, including, without limitation, waivers, amendments, redemptions and offers to purchase.

 

Section 1.03          Terms; Denominations; Form of Security.

 

(a)           The Notes are issuable in fully registered form as Global Securities without coupons, in denominations of $2,000 or any amount in excess thereof which is an integral multiple of $1,000, and shall be in substantially the form of Exhibit A hereto.  The Depository Trust Company (“DTC”) shall act as Depositary for the Notes.  Notwithstanding the foregoing, the Notes shall be issued as Individual Securities to each Person that the Depositary identifies as the beneficial owner of the Notes represented by the Global Securities upon surrender by the Depositary of the Global Security if:

 

(i)            the Depositary notifies us that it is no longer willing or able to act as a depositary for such Global Security or ceases to be a clearing agency registered under the Exchange Act, and the Company shall not have appointed a successor Depositary within 90 days of that notice or becoming aware that the Depositary is no longer so registered;

 

(ii)           an Event of Default has occurred and is continuing, and the Depositary requests the issuance of certificated notes; or

 

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(iii)          the Company determines not to have the Notes represented by a Global Security.

 

(b)           The terms and provisions contained in the forms of Note attached hereto as Exhibit A shall constitute, and are hereby expressly made, a part of this Sixth Supplemental Indenture and the Company, by its execution and delivery of this Sixth Supplemental Indenture, expressly agrees to such terms and provisions and to be bound thereto.  Any of the Notes may have such letters, numbers or other marks of identification and such notations, legends and endorsements as the officers executing the same may approve (execution thereof to be conclusive evidence of such approval) and are not inconsistent with the provisions of the Indenture (and which do not affect the rights, duties or immunities of the Trustee), or as may be required to comply with any law or with any rule or regulation made pursuant thereto or with any rule or regulation of any securities exchange or automated quotation system on which the Notes may be listed.

 

Section 1.04          Payment of Principal and Interest,

 

(a)           The Notes shall mature, and the principal of the Notes shall be due and payable in U.S. Dollars to the Holders thereof, together with all accrued and unpaid interest thereon, on August 10, 2022.

 

(b)           The Notes shall bear interest at 2.375% per annum from and including August 10, 2017, or from the most recent Interest Payment Date to which interest has been paid or provided for, until the principal thereof becomes due and payable, and on any overdue principal and (to the extent that payment of such interest is enforceable under applicable law) on any overdue installment of interest at the same rate per annum.  Interest shall be calculated on the basis of a 360-day year comprised of twelve 30-day months.  Interest on the Notes shall be payable semi-annually in arrears in U.S. Dollars on February 10 and August 10 of each year, commencing on February 10, 2018 (the Interest Payment Dates with respect to the Notes).  Payments of interest shall be made to the Person in whose name a Note (or predecessor Note) is registered (which shall initially be the Depositary) at the close of business on February 1 or August 1, as the case may be, immediately preceding each Interest Payment Date (the Record Date with respect to the Notes).

 

(c)           For so long as the Notes are represented by one or more Global Securities, all payments of principal and interest shall be made by the Company through the Paying Agent by wire transfer of immediately available funds in U.S. Dollars to the Depositary or its nominee, as the case may be, as the registered owner of the Global Securities representing such Notes.  In the event that definitive Notes shall have been issued, all payments of principal and interest shall be made by the Company through the Paying Agent by wire transfer of immediately available funds in U.S. Dollars to the accounts of the registered Holders thereof; provided, that the Company may elect to make such payments at the office of the Paying Agent in The City of Minneapolis; and provided further, that the Company may at its option pay interest by check to the registered address of each Holder of a definitive Note.

 

(d)           The Notes shall trade in the Depositary’s Same-Day Funds Settlement System until Stated Maturity (or until they are subject to acceleration pursuant to Article VII of the

 

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Existing Indenture) and secondary market trading activity in the Notes may be required by the Depositary to settle in immediately available funds.

 

(e)           The Notes are subject to redemption by the Company in whole or in part in the manner described herein.

 

Section 1.05          Sinking Fund.

 

The Notes are not subject to any sinking fund.

 

Section 1.06          Defeasance and Covenant Defeasance.

 

The defeasance and covenant defeasance provisions of Article XI of the Existing Indenture will apply to the Notes.

 

Section 1.07          Tax Matters.

 

The Company will not pay additional amount on the Notes held by Non-U.S. Persons in respect of any tax, assessment or governmental change withheld or deducted.

 

ARTICLE II

 

DEFINITIONS

 

Section 2.01          Definitions.

 

(a)           All capitalized terms used herein and not otherwise defined below shall have the meanings ascribed thereto in the Existing Indenture.

 

(b)           The following terms for purposes of the Trust Indenture Act shall have the following meanings:

 

“indenture trustee” or “institutional trustee” shall mean the Trustee.

 

“indenture securities” means the Notes.

 

“indenture security holder” means a Holder of the Notes.

 

“indenture to be qualified” means this Sixth Supplemental Indenture.

 

(c)           The following are definitions used in this Sixth Supplemental Indenture and to the extent that a term is defined both herein and in the Existing Indenture, the definition in this Sixth Supplemental Indenture shall govern with respect to the Notes.

 

“Attributable Debt” in respect of a Sale and Leaseback Transaction means, as of any particular time, the present value (discounted at the rate of interest implicit in the terms of the lease involved in the Sale and Leaseback Transaction, as determined in good faith by the Company) of the obligation of the lessee thereunder for net rental payments (excluding, however, any amounts required to be paid by such lessee, whether or not designated as rent or

 

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additional rent, on account of maintenance and repairs, services, insurance, taxes, assessments, water rates and similar charges or any amounts required to be paid by such lessee thereunder contingent upon monetary inflation or the amount of sales, maintenance and repairs, insurance, taxes, assessments, water rates or similar charges) during the remaining term of such lease (including any period for which such lease has been extended or may, at the option of the lessor, be extended).

 

“Below Investment Grade Rating Event” means the rating on the Notes is lowered by each of the Rating Agencies and the Notes are rated below Investment Grade by each of the Rating Agencies on any day within the 60-day period (which 60-day period will be extended so long as the rating of the Notes is under publicly announced consideration for a possible downgrade by any of the Rating Agencies) after the earlier of (1) the occurrence of a Change of Control and (2) public notice of the occurrence of a Change of Control or the Company’s intention to effect a Change of Control; provided that a Below Investment Grade Rating Event otherwise arising by virtue of a particular reduction in rating shall not be deemed to have occurred in respect of a particular Change of Control (and thus shall not be deemed a Below Investment Grade Rating Event for purposes of the definition of Change of Control Repurchase Event) if the Rating Agencies making the reduction in rating to which this definition would otherwise apply do not announce or publicly confirm or inform the Trustee in writing at its request that the reduction was the result, in whole or in part, of any event or circumstance comprised of or arising as a result of, or in respect of, the applicable Change of Control (whether or not the applicable Change of Control shall have occurred at the time of the Below Investment Grade Rating Event).

 

“Change of Control” means the occurrence of any of the following:

 

(1)           the direct or indirect sale, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or a series of related transactions, of all or substantially all of the Company’s assets and those of its Subsidiaries, taken as a whole, to any person, other than the Company or one of its Subsidiaries;

 

(2)           the first day on which a majority of the members of the Board of Directors are not Continuing Directors; or

 

(3)           the consummation of any transaction (including, without limitation, any merger or consolidation) the result of which is that any person, other than the Company or one or more of its Wholly-Owned Subsidiaries, becomes the beneficial owner, directly or indirectly, of more than 50% of the then outstanding number of shares of the Company’s Voting Stock.

 

Notwithstanding the foregoing, a transaction will not be deemed to involve a Change of Control if (1) the Company becomes a direct or indirect Wholly-Owned Subsidiary of a holding company and (2) (A) the direct or indirect holders of the Voting Stock of such holding company immediately following that transaction are substantially the same as the holders of the Company’s Voting Stock immediately prior to that transaction or (B) immediately following that transaction no person (other than a holding

 

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company satisfying the requirements of this sentence) is the beneficial owner, directly or indirectly of more than 50% of the Voting Stock of such holding company.

 

The term “person,” as used in this definition, has the meaning given thereto in Section 13(d)(3) of the Exchange Act.

 

“Change of Control Repurchase Event” means the occurrence of both a Change of Control and a Below Investment Grade Rating Event.

 

“Comparable Treasury Issue” means the United States Treasury security selected by the Quotation Agent as having an actual or interpolated maturity comparable to the remaining term (as measured from the date of redemption) of the Notes to be redeemed calculated as if the maturity date of the Notes were the Par Call Date (the “Remaining Life”) that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the Remaining Life of such Notes.

 

“Comparable Treasury Price” means, with respect to any Redemption Date, (i) the average of four Reference Treasury Dealer Quotations for such Redemption Date, after excluding the highest and lowest such Reference Treasury Dealer Quotations, or (ii) if the Quotation Agent obtains fewer than four such Reference Treasury Dealer Quotations, the average of all such quotations, or (iii) if only one Reference Treasury Dealer Quotation is received, such quotation.

 

“Consolidated Net Tangible Assets” means the aggregate amount of assets (less applicable reserves and other properly deductible items) of the Company and its Restricted Subsidiaries after deducting therefrom (a) all goodwill, tradenames, trademarks, patents, unamortized debt discount and expense and other like intangibles and (b) all current liabilities (excluding any current liabilities for money borrowed having a maturity of less than 12 months but by its terms being renewable or extendible beyond 12 months from such date at the option of the borrower), all as reflected in the Company’s latest audited consolidated balance sheet contained in the Company’s most recent annual report to its stockholders prior to the time as of which “Consolidated Net Tangible Assets” shall be determined.

 

“Continuing Director” means, as of any date of determination, any member of the Board of Directors who (1) was a member of the Board of Directors on August 10, 2017; or (2) was nominated for election, elected or appointed to the Board of Directors with the approval of a majority of the Continuing Directors who were members of the Board of Directors at the time of such nomination, election or appointment (either by a specific vote or by approval of the Company’s proxy statement in which such member was named as a nominee for election as a director).

 

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“Corporate Trust Office” means the office of the Trustee at which the corporate trust business of the Trustee with respect to the Sixth Supplemental Indenture is, at any particular time, principally administered, which office is, as of the date on which this Sixth Supplemental Indenture is dated, located in Minneapolis, Minnesota.

 

c/o          Wells Fargo Bank, National Association

150 East 42nd Street

40th Floor

New York, NY  10017

Attention: Ecolab Administrator

 

“Investment Grade” means a rating of Baa3 or better by Moody’s (or its equivalent under any successor rating categories of Moody’s) and a rating of BBB- or better by S&P (or its equivalent under any successor rating categories of S&P) or the equivalent investment grade credit rating from any additional Rating Agency or Rating Agencies selected by the Company.

 

“Moody’s” means Moody’s Investors Service Inc. and its successors.

 

“Operating Property” means any manufacturing or processing plant, warehouse or distribution center, together with the land upon which it is situated located within the United States or in Canada and owned and operated as of the date of this Sixth Supplemental Indenture or thereafter by the Company or any Restricted Subsidiary and having a net book value on the date as of which the determination is being made of more than 1.0% of Consolidated Net Tangible Assets other than property which, in the opinion of the Board of Directors of the Company, is not of material importance to the total business conducted by the Company and its Restricted Subsidiaries taken as a whole.

 

“Par Call Date” means July 10, 2022.

 

“Quotation Agent” means any Reference Treasury Dealer appointed by the Company.

 

“Rating Agency” means (1) each of Moody’s and S&P; and (2) if either Moody’s or S&P ceases to rate the Notes or fails to make a rating of the Notes publicly available for reasons outside of the Company’s control, a “nationally recognized statistical rating organization” as defined in Section 3(a)(62) of the Exchange Act, selected by the Company as a replacement agency for Moody’s or S&P, or both, as the case may be.

 

“Reference Treasury Dealer” means (i) each of Merrill Lynch, Pierce, Fenner & Smith Incorporated, Credit Suisse Securities (USA) LLC and Wells Fargo Securities, LLC (or their respective affiliates that are Primary Treasury Dealers) and their respective successors; provided, however, that if any of the foregoing shall cease to be a primary U.S. Government securities dealer (a “Primary Treasury Dealer”), the Company shall substitute therefor another Primary Treasury Dealer, and (ii) one other Primary Treasury Dealer selected by the Company.

 

“Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any Redemption Date, the average, as determined by the Company, of the bid and

 

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asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Quotation Agent by such Reference Treasury Dealer at 5:00 p.m., New York City time, on the third Business Day preceding such Redemption Date.

 

“Restricted Subsidiaries” means all Subsidiaries other than Unrestricted Subsidiaries.

 

“S&P” means S&P Global Ratings, a division of S&P Global Inc., and its successors.

 

“Treasury Rate” means, with respect to any Redemption Date, the rate per annum equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such Redemption Date.

 

“Unrestricted Subsidiaries” means (1) any Subsidiary substantially all of whose physical properties are located, or substantially all of whose business is carried on, outside the United States and Canada, (2) any finance Subsidiary and (3) any Subsidiary of an Unrestricted Subsidiary.  In addition, the Board of Directors may designate any other Subsidiary of the Company (including any newly acquired or newly formed Subsidiary) to be an Unrestricted Subsidiary unless such Subsidiary owns any capital stock of, or owns or holds any mortgage on any Operating Property of, the Company or any Restricted Subsidiary of the Company; provided that the Subsidiary to be so designated has total assets at the time of such designation of $5 million or less.

 

“Voting Stock” of any specified Person as of any date means the capital stock of such Person that is at the time entitled to vote generally in the election of the board of directors of such Person.

 

“Wholly-Owned Subsidiary” of any specified Person means a Subsidiary all of whose Voting Stock is owned by the Company or a Wholly-Owned Subsidiary, the accounts of which are consolidated with those of the Company in its consolidated financial statements.

 

Section 2.02          Other Definitions.

 

	
Term
    	
 
    	
Defined in Section
    
	
 
    	
 
    	
 
    
	
“Additional Notes”
    	
 
    	
1.02
    
	
“Change of Control Offer”
    	
 
    	
4.01(b)
    
	
“Change of Control Payment”
    	
 
    	
4.01(a)
    
	
“Change of Control Payment Date”
    	
 
    	
4.01(b)(ii)
    
	
“Debt”
    	
 
    	
5.01
    
	
“DTC”
    	
 
    	
1.03(a)
    
	
“mortgage”
    	
 
    	
5.01
    
	
“Primary Treasury Dealer”
    	
 
    	
2.01
    
	
“Remaining Life”
    	
 
    	
2.01
    

 

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ARTICLE III

 

OPTIONAL REDEMPTION

 

The Company may redeem the Notes at any time in whole or from time to time in part, in each case at the Company’s option, prior to the Par Call Date, at a Redemption Price equal to the greater of:

 

(i)            100% of the principal amount of the Notes to be redeemed on the Redemption Date; and

 

(ii)           as determined by the Quotation Agent, the sum of the present values of the principal amount of the Notes to be redeemed and remaining scheduled payments of interest thereon (not including any portion of such payments of interest accrued as of the Redemption Date) from the Redemption Date to the Par Call Date, in each case discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 10 basis points;

 

plus, in each case, accrued and unpaid interest, if any, to but excluding the Redemption Date.

 

In addition, the Company may redeem the Notes, at any time in whole or from time to time in part, at the Company’s option on or after the Par Call Date, at a Redemption Price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest, if any, to but excluding the Redemption Date.

 

Notwithstanding the foregoing, installments of interest on the Notes that are due and payable on Interest Payment Dates falling on or prior to a Redemption Date will be payable on the Interest Payment Date to the registered Holders as of the close of business on the relevant Record Date according to the Notes and the Indenture.

 

Notice of any redemption will be delivered at least 30 days but not more than 60 days before the Redemption Date to each registered Holder of the Notes to be redeemed by the Company or by the Trustee on its behalf; provided that notice of redemption may be delivered more than 60 days prior to the Redemption Date if the notice is issued in connection with a defeasance of such Notes or a satisfaction and discharge of such Notes.

 

If less than all of the Notes are to be redeemed, the Notes to be redeemed shall be selected by lot by the Trustee.

 

Except as otherwise set forth in this Article III, the terms and conditions upon which and the manner in which the Notes may be redeemed by the Company pursuant to this Article III are governed by the provisions of Article IV of the Existing Indenture.

 

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ARTICLE IV

 

CHANGE OF CONTROL

 

Section 4.01          Change of Control.

 

(a)           Upon the occurrence of a Change of Control Repurchase Event, unless all of the Notes have been called for redemption pursuant to Article III hereof, each Holder of Notes shall have the right to require the Company to repurchase all or any part (equal to $1,000 or an integral multiple of $1,000 in excess thereof) of such Holder’s Notes at a repurchase price in cash equal to 101% of the aggregate principal amount of such Notes repurchased plus any accrued and unpaid interest on the Notes repurchased to the date of repurchase (the “Change of Control Payment”).

 

(b)           Within 30 days following any Change of Control Repurchase Event or, at the Company’s option, prior to any Change of Control, but after the public announcement of the transaction or transactions that constitutes or may constitute a Change of Control, the Company shall mail, or cause to be mailed, a notice (a “Change of Control Offer”) to each Holder, with a copy to the Trustee, describing the transaction or transactions that constitute or may constitute the Change of Control Repurchase Event and specifying:

 

(i)            that the Change of Control Offer is being made pursuant to this Section 4.01 and that all Notes tendered will be accepted for payment;

 

(ii)           the Change of Control Payment and the purchase date, which shall be a Business Day no earlier than 30 days and no later than 60 days from the date such notice is mailed (the “Change of Control Payment Date”);

 

(iii)          the CUSIP numbers for the Notes;

 

(iv)          that any Note not tendered will continue to accrue interest;

 

(v)           that, unless the Company defaults in the payment of the Change of Control Payment, all Notes accepted for payment pursuant to the Change of Control Offer will cease to accrue interest after the Change of Control Payment Date;

 

(vi)          that Holders electing to have any Notes purchased pursuant to a Change of Control Offer will be required to surrender such Notes to the Paying Agent at the address specified in the notice prior to the close of business on the third Business Day preceding the Change of Control Payment Date;

 

(vii)         that Holders will be entitled to withdraw their election referred to in clause (vi) if the Paying Agent receives, not later than the close of business on the second Business Day preceding the Change of Control Payment Date, a facsimile transmission or letter setting forth the name of the Holder, the principal amount of Notes delivered for purchase, and a statement that such Holder is withdrawing his election to have such Notes purchased;

 

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(viii)        that Holders whose Notes are being purchased only in part will be issued new Notes equal in principal amount to the unpurchased portion of the Notes surrendered, which unpurchased portion will be equal to $2,000 in principal amount or an integral multiple of $1,000 in excess thereof; and

 

(ix)          if the notice is mailed prior to the date of consummation of the Change of Control, that the Change of Control Offer is conditioned on the Change of Control Repurchase Event occurring on or prior to the payment date specified in the notice.

 

(c)           The Company shall comply with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and regulations thereunder to the extent those laws and regulations are applicable in connection with the repurchase of the Notes as a result of a Change of Control Repurchase Event.  To the extent that the provisions of any securities laws or regulations conflict with the provisions of this Section 4.01, the Company will comply with the applicable securities laws and regulations and will not be deemed to have breached its obligations under this Section 4.01 by virtue of such conflict.

 

(d)           On the Change of Control Payment Date, the Company will, to the extent lawful:

 

(i)            accept for payment all Notes or portions thereof (in integral multiples of $1,000) properly tendered pursuant to the Change of Control Offer;

 

(ii)           deposit with the Paying Agent an amount equal to the Change of Control Payment in respect of all Notes or portions of such Notes properly tendered; and

 

(iii)          deliver or cause to be delivered to the Trustee the Notes properly accepted, together with an Officer’s Certificate stating the aggregate principal amount of Notes being purchased by the Company.

 

The Paying Agent will promptly deliver to each Holder of Notes properly tendered the Change of Control Payment for such Notes, and the Trustee will promptly authenticate and mail (or cause to be transferred by book-entry) to each Holder a new Note equal in principal amount to any unpurchased portion of such Notes surrendered, if any; provided that each new Note will be in a principal amount of $2,000 or an integral multiple of $1,000 in excess thereof.

 

(e)           The Company shall not be required to make a Change of Control Offer upon a Change of Control Repurchase Event if a third party makes the Change of Control Offer in the manner, at the times and otherwise in compliance with the requirements set forth in this Section 4.01 applicable to a Change of Control Offer made by the Company and purchases all Notes properly tendered and not withdrawn under such Change of Control Offer.

 

ARTICLE V

 

COVENANTS

 

The covenants set forth in this Article V shall be applicable to the Company in addition to the covenants in Article VI of the Existing Indenture, which shall in all respects be applicable in

 

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respect of the Notes; provided that the covenant contained in Section 6.04 of the Existing Indenture shall not be applicable to the Notes.

 

Section 5.01          Restrictions on Liens.

 

The Company will not, and will not permit any Restricted Subsidiary to, issue, assume or guarantee any indebtedness for money borrowed (herein referred to as “Debt”) if such Debt is secured by any mortgage, security interest, pledge, lien or other encumbrance (herein referred to as a “mortgage”) upon any Operating Property of the Company or any Restricted Subsidiary or any shares of stock or Debt of any Restricted Subsidiary, whether owned at the date of the issuance of the Notes or thereafter acquired, without effectively securing the Notes equally and ratably with such Debt for at least the period such other Debt is so secured unless, after giving effect thereto, the aggregate amount of all Debt so secured (not including Debt permitted in clauses (1) through (7) in the following sentence), together with all Attributable Debt in respect of Sale and Leaseback Transactions involving Operating Properties pursuant to clause (2) of Section 5.02 in existence at such time would not exceed 15% of Consolidated Net Tangible Assets.

 

The foregoing restriction does not apply to, and therefore shall be excluded in computing secured Debt for the purpose of such restriction, Debt secured by:

 

(1)           mortgages on Operating Property, shares of stock or Debt of any entity existing at the time such entity becomes a Restricted Subsidiary, provided that such mortgages are not incurred in anticipation of such entity’s becoming a Restricted Subsidiary;

 

(2)           mortgages on Operating Property, shares of stock or Debt existing at the time of acquisition thereof by the Company or a Restricted Subsidiary or mortgages thereon to secure the payment of all or any part of the purchase price thereof, or mortgages on Operating Property, shares of stock or Debt to secure any Debt incurred prior to, at the time of, or within 180 days after, the latest of the acquisition thereof or, in the case of Operating Property, the completion of construction, the completion of improvements or the commencement of substantial commercial operation of such Operating Property for the purpose of financing all or any part of the purchase price thereof, such construction or the making of such improvements;

 

(3)           mortgages to secure Debt owing to the Company or to a Restricted Subsidiary;

 

(4)           mortgages on Operating Property, shares of stock or Debt existing at the date of the initial issuance of the Notes;

 

(5)           mortgages on Operating Property, shares of stock or Debt of a Person existing at the time such Person is merged into or consolidated with the Company or a Restricted Subsidiary or at the time of a sale, lease or other disposition of the properties of a Person as an entirety or substantially as an entirety to the Company or a Restricted Subsidiary, provided that such mortgage was not incurred in anticipation of such merger or consolidation or sale, lease or other disposition;

 

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(6)           mortgages on Operating Property, shares of stock or Debt in favor of the United States or any state, territory or possession thereof (or the District of Columbia), or any department, agency, instrumentality or political subdivision of the United States or any state, territory or possession thereof (or the District of Columbia), to secure partial, progress, advance or other payments pursuant to any contract or statute or to secure any Debt incurred for the purpose of financing all or any part of the purchase price or the cost of constructing or improving the Operating Property subject to such mortgages; or

 

(7)           extensions, renewals or replacements, in whole or in part, of any mortgage referred to in the foregoing clauses (1) through (6), provided, however, that the principal amount of Debt secured thereby shall not exceed the principal amount of Debt so secured at the time of such extension, renewal or replacement.

 

Section 5.02          Restrictions on Sale and Leaseback; Transactions.

 

Sale and Leaseback Transactions by the Company or any Restricted Subsidiary with a third party of any Operating Property are prohibited (except for temporary leases for a term, including renewals, of not more than 60 months and except for leases between the Company and a Restricted Subsidiary or between Restricted Subsidiaries) unless the net proceeds of such Sale and Leaseback Transactions are at least equal to the fair market value (as determined in good faith by the Board of Directors) of the Operating Property to be leased and either:

 

(1)           the Company or such Restricted Subsidiary would (at the time of entering into such arrangement) be entitled, as described in clauses (1) through (7) of the second paragraph of Section 5.01, without equally and ratably securing the Notes, to issue, assume or guarantee Debt secured by a mortgage on such Operating Property;

 

(2)           the Attributable Debt of the Company and its Restricted Subsidiaries in respect of such Sale and Leaseback Transactions (other than such Sale and Leaseback Transactions as are referred to in clause (1) or (3) of this paragraph), plus the aggregate principal amount of Debt secured by mortgages on Operating Properties then outstanding (excluding any such Debt secured by mortgages described in clauses (1) through (7) of the second paragraph of Section 5.01) which do not equally and ratably secure the Notes, would not exceed 15% of Consolidated Net Tangible Assets; or

 

(3)           the Company, within 180 days after the sale or transfer, applies or causes a Restricted Subsidiary to apply an amount equal to the greater of the net proceeds of such sale or transfer or fair market value of the Operating Property (as determined in good faith by the Board of Directors) so sold and leased back at the time of entering into such Sale and Leaseback Transaction to

 

(a)           retire (other than any mandatory retirement, mandatory repayment or sinking fund payment or by payment at maturity) Notes or other Debt of the Company or a Restricted Subsidiary (other than Debt subordinated to the Notes) having a Stated Maturity more than 12 months from the date of such application or which is extendible at the option of the obligor thereon to a date more than 12 months from the date of such application or

 

13

 

(b)           purchase, construct or develop one or more Operating Properties (other than that involved in such Sale and Leaseback Transaction);

 

provided that the amount to be so applied pursuant to this clause (3) will be reduced by the principal amount of Notes delivered within 180 days after such sale or transfer to the Trustee for retirement and cancellation.

 

Section 5.03          Other Limitations.

 

(a)           Neither the Company nor any Restricted Subsidiary may transfer an Operating Property or shares of stock or Debt of a Restricted Subsidiary to an Unrestricted Subsidiary.

 

(b)           An Unrestricted Subsidiary may not be designated a Restricted Subsidiary unless, after giving effect thereto, the aggregate amount of all Debt of the Company and its Restricted Subsidiaries secured by mortgages which would otherwise be subject to the restrictions of Section 5.01 and the Attributable Debt in respect of all Sale and Leaseback Transactions pursuant to clause (2) under Section 5.02 in existence at such time does not at the time exceed 15% of Consolidated Net Tangible Assets.

 

Section 5.04          Merger, Consolidation and Sale of Assets.

 

(a)           The Company will not consolidate with or merge into any other Person or sell, convey, transfer or lease all or substantially all its assets to any other Person, unless (1) the Person formed by such consolidation or into which the Company is merged or to which such sale, conveyance, transfer or lease is made shall (A) be incorporated or otherwise organized under the laws of the United States, any state thereof or the District of Columbia, and (B) expressly assume, by supplemental indenture, executed and delivered by such Person prior to or simultaneously with such consolidation, merger, sale, conveyance, transfer or lease, the due and punctual payment of the principal of and interest and premium, if any, on all the Notes, according to their tenor, and the due and punctual performance and observance of all other obligations to the Holders and the Trustee under the Indenture or under the Notes to be performed or observed by the Company; and (2) immediately after giving effect to such consolidation, merger, sale, conveyance, transfer or lease, no Default shall have occurred and be continuing. Clause (2) of the immediately preceding sentence shall not apply to (X) any sale, conveyance, transfer or lease between or among the Company and one or more Subsidiaries of the Company, (Y) any merger of the Company into any Subsidiary of the Company or (Z) any merger of the Company into an Affiliate of the Company for the purpose of the Company reincorporating or reorganizing.

 

(b)           Upon any consolidation of the Company with or merger of the Company into any other Person, or any sale, conveyance, transfer or lease of all or substantially all of the assets of the Company to any other Person, in accordance with this Section 5.04, the Person formed by such consolidation or into which the Company is merged or to which such sale, conveyance, transfer or lease is made shall succeed to, and be substituted for, and may exercise every right and power of, the Company under the Indenture with the same effect as if such successor Person had been named as the Company in the Indenture, and thereafter, except in the case of a lease, the predecessor Company shall be relieved of and discharged from all obligations and covenants

 

14

 

under the Indenture and the Notes, and from time to time such Person may exercise each and every right and power of the Company under the Indenture, in the name of the Company, or in its own name; and any act or proceeding by any provision of the Indenture required or permitted to be done by the Board of Directors or any officer of the Company may be done with like force and effect by the like board or officer of any Person that shall at the time be the successor of the Company hereunder. In the event of any such sale, conveyance or transfer, but not any such lease, the Company (or any successor entity which shall theretofore have become such in the manner described in this Section 5.04) shall be relieved of and discharged from all obligations and covenants under the Indenture and the Notes and may thereupon be dissolved and liquidated.

 

(c)           The Trustee, subject to the provisions of Sections 10.01 and 10.02 of the Existing Indenture, may receive an Opinion of Counsel, prepared in accordance with Section 15.01 of the Existing Indenture, as conclusive evidence that any such merger, sale, conveyance or lease, and any such assumption, complies with the applicable provisions of the Indenture.

 

ARTICLE VI

 

MISCELLANEOUS

 

Section 6.01          Trust Indenture Act Controls.

 

If any provision of this Sixth Supplemental Indenture limits, qualifies or conflicts with another provision that is required or deemed to be included in this Sixth Supplemental Indenture by the Trust Indenture Act, the required or deemed provision shall control.

 

Section 6.02          Notices.

 

Any notice or communication shall be in writing and delivered in person or mailed by first-class mail or sent by facsimile (with a hard copy delivered in person or by mail promptly thereafter) and addressed as follows:

 

if to the Company:

 

Ecolab Inc.
 1 Ecolab Place
 St. Paul, Minnesota 55102
 Attention: General Counsel 
 Facsimile: (651) 250-2573

 

if to the Trustee:

 

Wells Fargo Bank, National Association
 150 East 42nd Street
 40th Floor
 New York, NY  10017
 Attention: Ecolab Administrator
 Facsimile: (917) 260-1593

 

15

 

The Company or the Trustee by notice to the other may designate additional or different addresses for subsequent notices or communications.

 

Notwithstanding any other provision of this Sixth Supplemental Indenture, the Existing Indenture or any Note, where this Sixth Supplemental Indenture, the Existing Indenture or any Note provides for notice of any event (including any notice of redemption or repurchase) to a Holder of a Global Security (whether by mail or otherwise), such notice shall be sufficiently given if given to DTC (or its designee) pursuant to the standing instructions from DTC or its designee, including by electronic mail in accordance with accepted practices at DTC.

 

Section 6.03          Governing Law.

 

THIS SIXTH SUPPLEMENTAL INDENTURE AND THE NOTES SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

 

Section 6.04          Multiple Originals.

 

The parties may sign any number of copies of this Sixth Supplemental Indenture.  Each signed copy shall be an original, but all of them together represent the same agreement.  One signed copy is enough to prove this Sixth Supplemental Indenture.

 

Section 6.05          Headings.

 

The headings of Articles and Sections of this Sixth Supplemental Indenture have been inserted for convenience of reference only, are not intended to be considered a part hereof and shall not modify or restrict any of the terms or provisions hereof.

 

Section 6.06          Not Responsible for Recitals or Issuance of Notes.

 

The recitals contained herein and in the Notes, except the Trustee’s certificates of authentication, shall be taken as the statements of the Company, and the Trustee does not assume any responsibility for their correctness.  The Trustee makes no representation as to the validity or sufficiency of this Sixth Supplemental Indenture or of the Notes.  The Trustee shall not be accountable for the Company’s use of the proceeds from the Notes or for monies paid over to the Company pursuant to this Sixth Supplemental Indenture.  All of the provisions contained in the Existing Indenture in respect of the rights, privileges, and immunities of the Trustee, including but not limited to its rights to be compensated, reimbursed and indemnified, shall be applicable to the Trustee in respect of this Sixth Supplemental Indenture as fully and with like force and effect as though set forth in full herein.

 

Section 6.07          Adoption, Ratification and Confirmation.

 

The Existing Indenture, as supplemented and amended by this Sixth Supplemental Indenture, is in all respects hereby adopted, ratified and confirmed.

 

[Signature Page Follows]

 

16

 

IN WITNESS WHEREOF, the parties have caused this Sixth Supplemental Indenture to be duly executed as of the date first written above.

 

	
 
    	
ECOLAB   INC.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Kristen Bettman
    
	
 
    	
Name:
    	
Kristen   Bettman
    
	
 
    	
Title:
    	
Assistant Treasurer
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
WELLS   FARGO BANK, NATIONAL ASSOCIATION, as Trustee
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Stefan Victory
    
	
 
    	
Name:
    	
Stefan   Victory
    
	
 
    	
Title:
    	
Vice President
    

 

Signature Page to Sixth Supplemental Indenture

 

 

EXHIBIT A

 

[Form of Face of Note]

 

THIS NOTE IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF.  THIS NOTE MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A NOTE REGISTERED, AND NO TRANSFER OF THIS NOTE IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE.

 

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO., OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT HEREON IS MADE TO CEDE & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

 

CUSIP 278865AY6

 

ECOLAB INC.

 

2.375% NOTE DUE 2022

 

	
$500,000,000
    	
No.: R-1
    

 

ECOLAB INC., a Delaware corporation (herein called the “Company”), for value received, hereby promises to pay to CEDE & CO., or registered assigns, the principal sum of $500,000,000 (FIVE HUNDRED MILLION DOLLARS) or such other principal amount as shall be set forth on Schedule I hereto on August 10, 2022 and to pay interest thereon at the rate of 2.375% per annum from August 10, 2017 or from the most recent Interest Payment Date to which interest has been paid or duly provided for, on February 10 and August 10 of each year, commencing February 10, 2018 (each an “Interest Payment Date”), until the principal hereof is paid or made available for payment.

 

The interest that is payable and is punctually paid or duly provided for on any Interest Payment Date will, except as provided in the Indenture hereinafter referred to, be paid to the Person in whose name this Note (or one or more predecessor Notes) is registered at the close of business on the Record Date for such interest, which will be the February 1 and August 1, as the case may be, immediately preceding each Interest Payment Date.  Any such interest not so punctually paid or duly provided for shall forthwith cease to be payable to the Holder on the relevant Record Date and either may be paid to the Persons in whose name this Note (or one or more predecessor Notes) are registered at the close of business on a Special Record Date for the

 

 

payment of such defaulted interest to be fixed by the Trustee, notice whereof shall be given to the Holders not less than ten calendar days prior to such Special Record Date, or may be paid in any other lawful manner, all as more fully provided in the Indenture.  Payment of the principal of and interest on this Note will be made at the office or agency of the Company maintained for that purpose, or in such other office or agency as may be established by the Company pursuant to the Indenture (initially the principal corporate trust office of the Trustee in Minneapolis, Minnesota (the “Corporate Trust Office”)), in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts; provided, however, that payment of interest may be made at the option of the Company through the Paying Agent (i) by check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register or (ii) by wire transfer to an account maintained by the Person entitled thereto as specified in the Security Register.  In the event that notes in definitive form shall have been issued, payments of principal and interest at maturity will be made against presentation of this Note at the Corporate Trust Office (or such other office as may be established pursuant to the Indenture), by check or wire transfer.

 

Reference is hereby made to the further provisions of this Note set forth on the reverse side hereof, which further provisions shall for all purposes have the same effect as though fully set forth at this place.

 

Unless the Certificate of Authentication hereon has been executed by the Trustee or an Authenticating Agent under the Indenture referred to on the reverse hereof by the manual signature of one of its authorized officers, this Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose.

 

 

IN WITNESS WHEREOF, the Company has caused this Note to be signed in its name by the manual or facsimile signature of its Assistant Treasurer and attested by the manual or facsimile signature of one of its Assistant Secretaries.

 

Date: August 10, 2017

 

	
 
    	
ECOLAB   INC.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Name:   Kristen Bettmann
    
	
 
    	
 
    	
Title:    Assistant   Treasurer
    

ATTEST:

 

 

	
 
    	
 
    
	
Assistant   Secretary
    	
 
    

 

 

Trustee’s Certificate of Authentication

 

This is one of the Notes described in the Indenture.

 

Dated:  August 10, 2017

 

	
 
    	
WELLS   FARGO BANK, NATIONAL ASSOCIATION, as Trustee
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Authorized Signatory
    

 

 

[Form of Reverse of Note]

 

ECOLAB INC.

 

2.375% NOTE DUE 2022

 

1.             This Note is one of a duly authorized issue of securities of the Company designated as its 2.375% Notes due 2022 (the “Notes”) issued under an Indenture dated as of January 12, 2015 (herein called, together with the Sixth Supplemental Indenture referred to below, the “Indenture”), between the Company and Wells Fargo Bank National Association, as Trustee, to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights thereunder of the Company, the Trustee and the Holders of the Notes, and the terms upon which the Notes are, and are to be, authenticated and delivered.

 

2.             This Note is one of the notes of the series designated on the face hereof, limited to an aggregate principal amount not to exceed $500,000,000, which amount may be increased at the option of the Company if in the future it determines that it may wish to sell additional Notes of this series, as specified in the Sixth Supplemental Indenture between the Company and Trustee, dated as of August 10, 2017, establishing the form and certain terms of the Notes pursuant to the Indenture (the “Sixth Supplemental Indenture”). References herein to “this series” mean the series of Notes designated on the face hereof.

 

3.             The Company may redeem the Notes at any time in whole or from time to time in part, in each case at the Company’s option, prior to July 10, 2022 (the “Par Call Date”), at a Redemption Price equal to the greater of:

 

(i)            100% of the principal amount of the Notes to be redeemed on the Redemption Date; and

 

(ii)           as determined by the Quotation Agent, the sum of the present values of the principal amount of the Notes to be redeemed and remaining scheduled payments of interest thereon (not including any portion of such payments of interest accrued as of the Redemption Date) from the Redemption Date to the Par Call Date, in each case discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 10 basis points;

 

plus, in each case, accrued and unpaid interest, if any, to but excluding the Redemption Date.

 

In addition, the Company may redeem the Notes, at any time in whole or from time to time in part, at the Company’s option on or after the Par Call Date, at a Redemption Price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest, if any, to but excluding the Redemption Date.

 

Notwithstanding the foregoing, installments of interest on the Notes that are due and payable on Interest Payment Dates falling on or prior to a Redemption Date will be payable on the Interest Payment Date to the registered Holders as of the close of business on the relevant Record Date according to this Note and the Indenture.

 

 

Any notice to holders of Notes of a redemption pursuant to this paragraph 3 hereof will include the appropriate calculation of the Redemption Price, but does not need to include the Redemption Price itself.  The actual Redemption Price, calculated as described above, will be set forth in a Company Order delivered to the Trustee no later than two Business Days prior to the Redemption Date.

 

4.             Upon the occurrence of a Change of Control Repurchase Event, unless all of the Notes have been called for redemption pursuant to paragraph 3 of this Note, each Holder of Notes shall have the right to require the Company to repurchase all or any part (equal to $1,000 or an integral multiple of $1,000 in excess thereof) of such Holder’s Notes at a repurchase price in cash equal to 101% of the aggregate principal amount of such Notes repurchased plus any accrued and unpaid interest on the Notes repurchased to the date of repurchase.  “Change of Control Repurchase Event” means the occurrence of both a Change of Control and a Below Investment Grade Rating Event, as such terms are defined in the Indenture.  The Change of Control Offer will be made in accordance with the terms specified in the Indenture.

 

5.             If an Event of Default with respect to the Notes (other than certain events of bankruptcy, insolvency or reorganization) shall occur and be continuing, the Trustee or the Holders of 25% or more in principal amount of the Outstanding Notes may declare the principal of and all accrued but unpaid interest on all Notes to be due and payable in the manner and with the effect provided in the Indenture.  The Indenture provides that such declaration and its consequences may, in certain events, be annulled by the Holders of a majority in principal amount of the Outstanding Notes.  If an Event of Default with respect to the Notes relating to certain events of bankruptcy, insolvency or reorganization shall occur and be continuing, the principal of and all accrued but unpaid interest on all Notes shall automatically become due and payable as provided in the Indenture.

 

6.             The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Company and the rights of the Holders of Notes under the Indenture at any time by the Company and the Trustee with the consent of the Holders of a majority in aggregate principal amount of Notes at the time Outstanding.  The Indenture also contains provisions permitting the Holders of specified percentages in aggregate principal amount of Notes at the time Outstanding, on behalf of the Holders of all Notes, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences.  Any such consent or waiver by the Holder of this Note shall be conclusive and binding upon such Holder and upon all future Holders of this Note and; of any Note issued upon the registration of transfer hereof or in exchange therefor or in lieu hereof; whether or not notation of such consent or waiver is made upon this Note.

 

7.             No reference herein to the Indenture and no provisions of this Note or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of and interest on this Note at the times, places and rate, and in the coin or currency, herein prescribed.

 

8.             As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Note may be registered on the Register of the Company, upon surrender of

 

 

this Note for registration of transfer at the office or agency to be maintained by the Company for that purpose, or at such other office or agency as may be established by the Company for such purpose pursuant to the Indenture (initially the principal corporate trust office of the Trustee in Minneapolis, Minnesota), duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company, and duly executed by the Holder hereof or such Holder’s attorney duly authorized in writing, and thereupon one or more new Notes, of authorized denominations and for like aggregate principal amount, will be issued to the designated transferee or transferees.

 

9.             The Notes are issuable only in fully registered form, without coupons, in denominations of $2,000 or any amount in excess thereof which is an integral multiple of $1,000.  As provided in the Indenture, and subject to certain limitations therein set forth, the Notes are exchangeable for a like aggregate principal amount of Notes in authorized denominations, as requested by the Holder surrendering the same.

 

10.          No service charge shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith.

 

11.          Prior to the due presentment of this Note for registration of transfer or exchange, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name this Note is registered as the owner hereof for all purposes, whether or not this Note be overdue, and neither the Company, the Trustee, nor any such agent shall be affected by notice to the contrary.

 

12.          Interest on the Notes shall be computed on the basis of a 360-day year of twelve 30- day months.  Interest shall be payable to and excluding any Interest Payment Date.

 

13.          The Trustee, in its individual or any other capacity, may make loans to, accept deposits from, and perform services for the Company or its Affiliates, and may otherwise deal with the Company or its Affiliates, as if it were not the Trustee.

 

14.          This Note shall not be valid until authenticated by the manual signature of the Trustee or an Authenticating Agent.

 

15.          Customary abbreviations may be used in the name of a Holder or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUT (= Custodian), and U/G/M/A (= Uniform Gifts to Minors Act).

 

16.          Each Holder of this Note covenants and agrees by such Holder’s acceptance thereof to comply with and be bound by the foregoing provisions.

 

17.          All terms used in this Note which are defined in the Indenture shall have the meanings assigned to them in the Indenture.

 

 

ASSIGNMENT FORM

 

FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto

 

PLEASE INSERT SOCIAL SECURITY OR
 OTHER IDENTIFYING NUMBER OF ASSIGNEE

 

	
 
    

PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS INCLUDING POSTAL ZIP CODE OF ASSIGNEE

 

 

	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    

 

the within Security and all rights thereunder, hereby irrevocably constituting and appointing                              attorney to transfer said Security on the books of the Company, with full power of substitution in the premises.

 

	
Dated:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Signature:
    	
 
    	
 
    
				

 

NOTICE:                    THE SIGNATURE TO THIS ASSIGNMENT MUST CORRESPOND WITH THE NAME AS WRITTEN UPON THE FACE OF THE WITHIN INSTRUMENT IN EVERY PARTICULAR, WITHOUT ALTERATION OR ENLARGEMENT OR ANY CHANGE WHATEVER.

 

Signature Guarantee:

 

SIGNATURE GUARANTEE

 

Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements of the Registrar, which requirements include membership or participation in the Security Transfer Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Registrar in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended.

 

 

Schedule I

 

SCHEDULE OF TRANSFERS AND EXCHANGES

 

The following increases or decreases in Principal Amount of this Global Security have been made:

 

	
Date of
   Exchange
    	
 
    	
Amount of Decrease in
   Principal Amount of
   this Global Security
    	
 
    	
Amount of Increase
   in Principal Amount of
   this Global Security
    	
 
    	
Principal Amount of this
   Global Security
   following such Decrease
   or Increase
    	
 
    	
Signature of
   Authorized
   Signatory of trustee
   or CustodianEX-10.1

 Exhibit 10.1 

Execution Version 
  

 
 PURCHASE AND SALE AGREEMENT

 by and between 

CONCORDE REAL ESTATE LLC, a Nevada limited liability company, and BHR 

GREENHOUSE REAL ESTATE, LLC, a Texas limited liability company 

as Seller, 
 and

 MEDEQUITIES REALTY OPERATING PARTNERSHIP, LP, 

a Delaware limited partnership 

as Purchaser 
 Dated:
August 7, 2017 
  
  

 TABLE OF CONTENTS 

 

							
	ARTICLE I PROPERTY	  	 	2	 
	 Section 1.01
	  	Property	  	 	2	 
		
	ARTICLE II PURCHASE PRICE	  	 	3	 
	 Section 2.01
	  	Purchase Price	  	 	3	 
	 Section 2.02
	  	Payment of Purchase Price	  	 	3	 
	 Section 2.03
	  	Allocation of Purchase Price	  	 	3	 
	 Section 2.04
	  	No Financing Contingencies	  	 	3	 
		
	ARTICLE III REVIEW PERIOD	  	 	4	 
	 Section 3.01
	  	Review Period	  	 	4	 
	 Section 3.02
	  	Review Items	  	 	4	 
	 Section 3.03
	  	Inspection	  	 	4	 
	 Section 3.04
	  	Title Commitment and Survey Review	  	 	4	 
	 Section 3.05
	  	Termination Notice	  	 	5	 
	 Section 3.06
	  	Termination	  	 	5	 
	 Section 3.07
	  	Seller’s Obligation to Remove Liens	  	 	5	 
	 Section 3.08
	  	Confidentiality, Press Releases and Return of Documents	  	 	6	 
	 Section 3.09
	  	AS IS, WHERE IS, WITH ALL FAULTS	  	 	6	 
		
	ARTICLE IV TITLE MATTERS	  	 	7	 
	 Section 4.03
	  	Conveyance	  	 	8	 
	 Section 4.04
	  	Owner Policy	  	 	9	 
	 Section 4.05
	  	Mechanic’s Liens	  	 	9	 
		
	ARTICLE V CLOSING	  	 	9	 
	 Section 5.01
	  	Closing	  	 	9	 
	 Section 5.02
	  	Seller’s Obligations	  	 	9	 
	 Section 5.03
	  	Purchaser’s Obligations	  	 	10	 
	 Section 5.04
	  	Transfer of Roof and Other Warranties	  	 	11	 
	 Section 5.05
	  	Possession	  	 	11	 
		
	ARTICLE VI CLOSING COSTS	  	 	11	 
	 Section 6.01
	  	No Prorations	  	 	11	 
	 Section 6.02
	  	Closing Costs	  	 	11	 
	 Section 6.03
	  	Survival	  	 	12	 
		
	ARTICLE VII DEFAULT AND REMEDIES	  	 	12	 
	 Section 7.01
	  	Termination of Agreement prior to Closing	  	 	12	 
	 Section 7.02
	  	Notice of Termination; Effect of Termination	  	 	13	 
	 Section 7.03
	  	Purchaser’s Default	  	 	13	 
	 Section 7.04
	  	Seller’s Default	  	 	13	 
	 Section 7.05
	  	No Personal Liability	  	 	14	 
		
	ARTICLE VIII REPRESENTATIONS, WARRANTIES AND COVENANTS	  	 	14	 
	 Section 8.01
	  	Seller’s Representations	  	 	14	 

  
 i 

							
	 Section 8.02
	  	Purchaser’s Representations	  	 	17	 
	 Section 8.03
	  	Discovery	  	 	18	 
	 Section 8.04
	  	Exclusivity	  	 	18	 
		
	 ARTICLE IX CONDITIONS PRECEDENT
	  	 	18	 
	 Section 9.01
	  	Purchaser’s Conditions Precedent	  	 	18	 
	 Section 9.02
	  	Seller’s Conditions Precedent	  	 	20	 
		
	ARTICLE X NOTICES	  	 	20	 
	 Section 10.01
	  	Notices	  	 	20	 
		
	 ARTICLE XI FIRE OR OTHER CASUALTY; CONDEMNATION
	  	 	22	 
	 Section 11.01
	  	Casualty Damage	  	 	22	 
	 Section 11.02
	  	Seller and Purchaser Risk	  	 	22	 
	 Section 11.03
	  	Condemnation	  	 	22	 
	 Section 11.04
	  	Survival of Provisions	  	 	22	 
		
	 ARTICLE XII ESCROW
	  	 	22	 
	 Section 12.01
	  	Instructions	  	 	22	 
	 Section 12.02
	  	Deposits Into Escrow	  	 	23	 
	 Section 12.03
	  	Close of Escrow	  	 	23	 
		
	 ARTICLE XIII MISCELLANEOUS
	  	 	23	 
	 Section 13.01
	  	Entire Agreement	  	 	23	 
	 Section 13.02
	  	No Rule of Construction	  	 	23	 
	 Section 13.03
	  	Multiple Counterpart; Governing Law	  	 	23	 
	 Section 13.04
	  	Attorneys’ Fees	  	 	23	 
	 Section 13.05
	  	Interpretation	  	 	24	 
	 Section 13.06
	  	Exhibits	  	 	24	 
	 Section 13.07
	  	Modifications	  	 	24	 
	 Section 13.08
	  	Reporting Person	  	 	24	 
	 Section 13.09
	  	Time of Essence	  	 	25	 
	 Section 13.10
	  	Restructuring	  	 	25	 
	 Section 13.11
	  	Assignment by Purchaser	  	 	25	 
	 Section 13.12
	  	No Recordation	  	 	25	 
	 Section 13.13
	  	Additional Agreements; Further Assurances	  	 	25	 
	 Section 13.14
	  	Enforceability	  	 	25	 
	 Section 13.15
	  	Third Party Beneficiaries	  	 	26	 
	 Section 13.16
	  	Waiver of Jury Trial	  	 	26	 
		
	 COUNTY
OF                     §
	  	 	36	 

  
 ii 

 PURCHASE AND SALE AGREEMENT 

THIS PURCHASE AND SALE AGREEMENT (this “Agreement”) is made and entered into as of the 7th day of August, 2017 (the
“Effective Date”), by and among CONCORDE REAL ESTATE, LLC, a Nevada limited liability company (“Concorde”) and BHR GREENHOUSE REAL ESTATE, LLC, a Texas limited liability company
(“Greenhouse”; together with Concorde being referred to herein collectively as “Seller”), and MEDEQUITIES REALTY OPERATING PARTNERSHIP, LP, a Delaware limited partnership and its permitted assigns
(“Purchaser”). Seller and Purchaser are collectively referred to herein as the “Parties” and individually as a “Party.” 

WHEREAS, Concorde owns those certain tracts of land located at 3441 S. Eastern Avenue, Las Vegas, Nevada, 89169 in Clark County,
Nevada, APNs 162-14-512-036 and 162-14-512-010, and more specifically described on Exhibit A-1 attached hereto (the “Desert Hope Land”), upon which is located that certain 2-story building containing approximately 18,990
square feet of space operated as a drug and alcohol rehabilitation outpatient facility on the Desert Hope Land (the “Desert Hope Facility”). 

WHEREAS, AAC Las Vegas Outpatient Center, LLC, a Delaware limited liability company (“AAC Las Vegas”), operates the
Desert Hope Facility pursuant to that certain Lease Agreement dated March 31, 2014 (“Desert Hope Lease”), by and between Concorde, as “Landlord,” and AAC Las Vegas, as “Tenant.” 

WHEREAS, Concorde owns and operates that certain tract of land located at 1000 Main Street, Las Vegas, Nevada 89101 in Clark County,
Nevada, APN 139-27-603-030, and more specifically described on Exhibit A-2 attached hereto (the “Resolutions LV Land”), upon which is located those certain three (3) buildings consisting of approximately 46,097 square
feet of space operated as a sober lodging facility on the Resolutions LV Land (the “Resolutions LV Facility”). 

WHEREAS, Greenhouse owns that certain tract of land located at 2301 Avenue J, Arlington, Texas 76006 in Tarrant County, Texas, more
particularly known as Brookhollow/Arlington Addition, Block 1, Lot 8, Site 8, Block 1, and more specifically described on Exhibit A-3 attached hereto (the “Greenhouse Land”), upon which is located that certain 1-story
building containing approximately 19,821 square feet of space operated as a drug and alcohol rehabilitation outpatient facility on the Greenhouse Land (the “Greenhouse Facility”). 

WHEREAS, AAC Dallas Outpatient Center, LLC, a Delaware limited liability company (“AAC Dallas”, together with AAC Las
Vegas, the “Treatment Centers”), operates the Greenhouse Facility pursuant to that certain Lease Agreement dated March 28, 2014 (“Greenhouse Lease”, together with the Desert Hope Lease, the
“Leases”), by and between Greenhouse, as “Landlord,” and AAC Dallas, as “Tenant.” 

  
 1 

 WHEREAS, Greenhouse owns and operates those certain tracts of land located at 1075 Wet N
Wild Way, Arlington, Texas 76011 in Tarrant County, Texas, and more specifically described on Exhibit A-4 attached hereto (the “Resolutions Arlington Land”), upon which is located those certain seven (7) buildings
consisting of approximately 64,256 square feet of space operated as a sober lodging facility on the Resolutions Arlington Land (the “Resolutions Arlington Facility”). The Desert Hope Land, the Resolutions LV Land, the Greenhouse
Land and the Resolutions Arlington Land are collectively referred to herein as the “Land.” The Desert Hope Facility, the Resolutions LV Facility, the Greenhouse Facility and the Resolutions Arlington Facility are collectively
referred to herein as the “Facilities” and each such facility is sometimes referred to herein, singularly, as a “Facility”. 

WHEREAS, the Parties hereto wish to enter into this Agreement to provide for the terms and conditions upon which Seller shall sell and
convey the Property (as defined in Section 1.01 herein) to Purchaser, and Purchaser will purchase and acquire the Property from Seller. 

WHEREAS, simultaneously with the closing of the purchase of the Property by Purchaser, Purchaser, as landlord, and Seller or one or
more of its designated affiliates (sometimes referred to hereinafter collectively as “Facility Tenant”), as tenant, shall enter into that certain Master Lease Agreement (the “Facility Lease”), pursuant to which
Facility Tenant shall lease the Property from Purchaser and Purchaser shall lease the Property to Facility Tenant upon the terms set forth in the Facility Lease. Facility Tenant’s obligations under the Facility Lease shall be unconditionally
guaranteed by AAC Holdings, Inc., a Nevada corporation (Facility Tenant’s ultimate parent company) (such guarantor being collectively referred to hereinafter as, “Guarantor”), pursuant to a guaranty of lease mutually acceptable
to Purchaser and Guarantor (the “Facility Lease Guaranty”). 
 NOW, THEREFORE, in consideration of the premises and
mutual covenants contained herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby mutually acknowledged, the Parties hereby agree as follows: 

ARTICLE I 
 PROPERTY

 Section 1.01 Property. At the Closing (as defined in Section 5.01 herein), and subject to the terms and conditions set
forth herein, Seller shall sell, assign, transfer, convey and deliver to Purchaser, and Purchaser shall purchase and acquire from Seller, free and clear of all liens and encumbrances except for the Permitted Exceptions (as defined in
Section 4.01 herein), all of Seller’s rights, title and interest in and to the following: 
 (a) Real Property. The
Land together with (i) all and singular, the rights and appurtenances pertaining to such real property, including any easements, and all rights, title and interest of Seller in and to adjacent streets, alleys and rights-of-way, and
(ii) any and all water, water rights or similar rights or privileges (including tap rights) appurtenant to or used in connection with the ownership or operation of such real property and (iii) all zoning, conditional use, variances,
waivers and planning approvals related to the ownership, operation, and/or possible future development, expansion or redevelopment of such real property (all of the foregoing being hereinafter collectively referred to as the “Real
Property”). 
  

  
 2 

 (b) Improvements. All improvements, structures, heating, plumbing, ventilation and HVAC
systems, carpet, tile, floor coverings, security systems, sprinkler systems, and fixtures now constructed and situated on the Real Property, including, without limitation, the Facilities, together with all of Seller’s right, title and interest
in all parking areas, loading docks and similar facilities, landscaping and other improvements, structures and fixtures (all of the foregoing being hereinafter collectively referred to as the “Improvements”). 

(c) Certain Intangibles. (i) all intangible rights that are appurtenant to the Real Property and/or the Improvements, including (to
the extent assignable) all roof, HVAC and other warranties issued with respect to the Real Property and Improvements in Seller’s possession or control, and (ii) to the extent transferrable, all local, state and federal licenses, approvals,
certifications and permits held by Seller for the operation of any of the Improvements for its current, future and intended use provided, however, all licenses related to Seller’s use and operation of the Facilities as drug and alcohol
outpatient treatment facilities and sober lodging facilities shall remain with the Seller and will not be sold to Purchaser (all of the foregoing being hereinafter collectively referred to as the “Intangible Property”). 

All of the foregoing items to be purchased under this Agreement including the Real Property, the Improvements and the Intangible Property are
collectively referred to as the “Property”. 
 Purchaser agrees and acknowledges that all beds, fixed and moveable
equipment, furniture, furnishings, machinery, and all other tangible personal property in each instance situated on the Real Property and/or used in connection therewith or with the Facilities are expressly excluded from the sale of the Property and
shall remain in the ownership of Seller (all of the foregoing being hereinafter collectively referred to as the “Personal Property”). 

ARTICLE II 
 PURCHASE
PRICE 
 Section 2.01 Purchase Price. The total purchase price (the “Purchase Price”) for the Property is
Twenty-Five Million and No/100 DOLLARS ($25,000,000.00). 
 Section 2.02 Payment of Purchase Price. On or before the Closing Date (as
defined in Section 5.01 herein), Purchaser shall deposit with Nikki Prine, an individual (“Escrow Agent”), of First American Title Insurance Company, a California corporation, 2500 Paseo Verde Parkway #120, Henderson, NV 89074
(the “Title Company”), the Purchase Price (plus or minus any adjustments as set forth in this Agreement). At the Closing, and subject to the conditions of Closing as set forth herein, the Parties, by execution of the settlement
statement, will direct the Title Company to disburse the Purchase Price (plus or minus any adjustments as set forth in this Agreement) by wire transfer or other immediately available funds to Seller or as Seller shall direct. 

Section 2.03 Allocation of Purchase Price. The Purchase Price shall be allocated between (a) Real Estate and Improvements, and
(b) Intangible Property as set forth on Exhibit B to this Agreement. 
 Section 2.04 No Financing Contingencies. Purchaser
expressly agrees and acknowledges that Purchaser’s obligations hereunder are not in any way conditioned upon or qualified by Purchaser’s ability to obtain financing of any type or nature whatsoever (i.e., whether by way of debt
financing or equity investment, or otherwise) to consummate the transaction contemplated hereby. 

  
 3 

 ARTICLE III 

REVIEW PERIOD 
 Section 3.01
Review Period. Purchaser shall have from the Effective Date until 11:59 p.m. (Eastern Time) on the date that is forty-five (45) days after the Effective Date (such time period, the “Review Period”), to review and
approve such matters and information with respect to the Property, and to conduct such inspections, interviews, non-invasive tests and audits of the Property, including the Facilities and its operations, as Purchaser, in its sole discretion, deems
appropriate. 
 Section 3.02 Review Items. To the extent not previously delivered, Seller shall, within five (5) Business
Days (as defined in Section 13.09 herein) following the Effective Date, deliver to Purchaser the items shown on Schedule 3.02 to this Agreement, if and to the extent in Seller’s possession. 

Section 3.03 Inspection. During the Review Period, Seller shall cause Purchaser to have the right, at all reasonable times upon
advance notice, to conduct on-site inspections of the Property and physical inspections and non-destructive tests of the Property, including, without limitation, the right to enter and inspect all portions of the Property. All inspections to be
undertaken by or on behalf of Purchaser shall be at Purchaser’s sole risk and expense. 
 Purchaser shall conduct such entry and
inspections in connection therewith (a) during normal business hours, (b) so as to minimize, to the greatest extent possible, any damage to the Property and any interference with Seller’s business, (c) in compliance with all
applicable laws, (d) upon at least forty-eight (48) hours prior written notice to Seller, and (e) otherwise in a manner reasonably acceptable to Seller. Purchaser shall not undertake any physically intrusive inspections or
environmental testing of the Property without Seller’s prior written consent, which shall not be unreasonably withheld or delayed. A Seller representative shall be permitted to accompany Purchaser on all inspections and interviews. 

Purchaser shall, at its expense, repair any damage to the Property caused by Purchaser’s inspection or testing thereof, and hereby
indemnifies, defends and holds harmless Seller from and against any and all claims, actions, suits, liens, damages, liabilities, losses and expenses to personal property or personal injury to the extent directly attributable to any acts performed in
exercising Purchaser’s rights under this Article III. This agreement to indemnify, defend and hold harmless Seller shall survive the Closing and any termination of this Agreement. 

Section 3.04 Title Commitment and Survey Review. During the Review Period, Purchaser shall order from the Title Company, at Seller’s
sole cost and expense, a commitment for ALTA form owner’s policy of title insurance with respect the Real Property (the “Title Commitment”), setting forth the state of title to the Real Property and the Improvements, as well as
any existing survey of the Real Property. Purchaser, at Purchaser’s cost and expenses (but subject to reimbursement from Seller pursuant to Section 6.02(b) herein), may cause to be performed an updated or new certified ALTA land
title survey of the Real Property, prepared by a surveyor licensed in the state in which the tract or tracts of Real Property are located (the “Updated Survey”), and Seller shall cooperate and provide reasonable access to the Real
Property for such purpose. 

  
 4 

 Section 3.05 Termination Notice. If for any or no reason, Purchaser, in its sole and absolute
discretion, is not satisfied with the items to be delivered by Seller to Purchaser under this Article III, or with the results of its inspections, interviews, tests or audits, or with any other fact or situation with respect to the Property,
Facility Tenant, Guarantor or this transaction, then in such event, Purchaser shall have the right to terminate this Agreement by giving written notice of such termination to Seller and Escrow Agent on or prior to the end of the Review Period. In
the event of such termination by Purchaser, this Agreement shall be null and void and the Parties hereto shall be released from all further obligations and liabilities hereunder, except with respect to the covenants, representations, warranties and
indemnities set forth herein and that expressly survive the termination of this Agreement. In the event that Purchaser fails to give such notice of termination to Seller prior to the expiration of the Review Period, Purchaser shall be deemed to have
waived Purchaser’s right to terminate the Agreement pursuant to this Section 3.05, which shall be of no further force or effect and which shall be deemed deleted from this Agreement, and this Agreement shall continue in full force
and effect subject to the other provisions hereof. 
 Section 3.06 Termination. If this Agreement has been terminated prior to the
expiration of the Review Period in accordance with the terms of this Article III, the Parties hereto shall thereupon be relieved of all liabilities and obligations hereunder (other than those that expressly survive any termination of this
Agreement), and Purchaser shall promptly return to Seller any due diligence materials delivered by Seller or any other third party (to the extent in Purchaser’s possession). In the event Purchaser shall terminate this Agreement during the
Review Period, Purchaser shall, promptly following notice of termination, provide Seller with all final engineering and architectural reports, environmental reports and lab analyses, appraisals, construction and renovation estimates prepared by
third parties, as applicable, or, if no final reports were prepared, the most recent drafts of such reports (collectively, the “Reports”) commissioned and received by Purchaser in connection with Purchaser’s Review Period, and
with any additional Reports which Purchaser may receive after the delivery of the termination notice, all at no cost or expense to Seller. Purchaser makes no representation or warranty with respect to any information contained or omitted from such
Reports and Seller shall not rely upon such Reports. The provisions of this Section 3.06 shall survive the termination of this Agreement. 

Section 3.07 Seller’s Obligation to Remove Liens. Notwithstanding anything to the contrary in this Agreement, Seller must remove or
cause to be removed at or prior to the Closing any and all monetary liens and encumbrances (except for the Permitted Exceptions and those monetary encumbrances, if any, that may be approved in writing by Purchaser) created, or incurred by, through
or under Seller against the Property or Seller including mortgages and mechanics’ and materialmen’s liens, unless the same cannot be removed, through no fault of Seller. In such event, the Parties shall work with the Title Company to cause
the same to be insured to Purchaser’s satisfaction. 

  
 5 

 Section 3.08 Confidentiality, Press Releases and Return of Documents. Purchaser shall
maintain as confidential any and all non-public information obtained about the Property, the terms of this Agreement and any and all dealings and negotiations regarding the same, and shall not disclose such information to any third party. Except as
may be required by law, Purchaser will not divulge any such information to other persons or entities including, without limitation, appraisers, real estate brokers, or competitors of Seller. Notwithstanding the foregoing, Purchaser shall have the
right to disclose information with respect to the Property and the terms of this Agreement to its officers, directors, employees, attorneys, accountants, environmental auditors, engineers, potential lenders and investors, and other consultants, to
the extent necessary for Purchaser to evaluate its acquisition of the Property. The timing and content of all press releases and other public announcements to patients, customers, vendors and employees relating to the transactions contemplated by
this Agreement and the Facility Lease shall be determined jointly by Purchaser and Seller prior to the Closing Date and thereafter by Purchaser; provided that any party hereto may make any public disclosure required by applicable law,
regulation, rule or order. The provisions of this Section shall survive the Closing or any termination of this Agreement. In the event the transaction contemplated by this Agreement does not close as provided herein, Purchaser shall promptly return
to Seller all due diligence materials, any other documents provided by Seller to Purchaser in connection with the purchase of the Property. 

Section 3.09 AS IS, WHERE IS, WITH ALL FAULTS. PURCHASER SPECIFICALLY ACKNOWLEDGES AND AGREES THAT SELLER IS SELLING AND PURCHASER IS
PURCHASING THE PROPERTY ON AN “AS IS WITH ALL FAULTS” BASIS AND THAT, EXCEPT AS EXPRESSLY SET FORTH IN THIS AGREEMENT, PURCHASER IS NOT RELYING ON ANY REPRESENTATIONS OR WARRANTIES OF ANY KIND WHATSOEVER, EXPRESS OR IMPLIED, FROM SELLER,
ANY SELLER RELATED PARTIES, OR THEIR AGENTS OR BROKERS, OR ANY OTHER PERSON ACTING OR PURPORTING TO ACT ON BEHALF OF SELLER, AS TO ANY MATTERS CONCERNING THE PROPERTY, INCLUDING WITHOUT LIMITATION: (i) the quality, nature, adequacy and physical
condition and aspects of the Property, including, but not limited to, the structural elements, seismic aspects of the Property, foundation, roof, appurtenances, access, landscaping, parking facilities and the electrical, mechanical, HVAC, plumbing,
sewage, and utility systems, facilities and appliances, the square footage within the improvements on the Real Property and within each tenant space therein, (ii) the quality, nature, adequacy, and physical condition of soils, geology and any
groundwater, (iii) the existence, quality, nature, adequacy and physical condition of utilities serving the Property, (iv) the development potential of the Property, and the Property’s use, habitability, merchantability, or fitness,
suitability, value or adequacy of the Property for any particular purpose, (v) the zoning or other legal status of the Property or any other public or private restrictions on use of the Property, (vi) the compliance of the Property or its
operation with any applicable codes, laws, regulations, statutes, ordinances, covenants, conditions and restrictions of any governmental or quasi-governmental entity or of any other person or entity, (vii) the presence of Hazardous Materials
on, under or about the Property or the adjoining or neighboring property, (viii) the quality of any labor and materials used in any improvements on the Real Property, (ix) the leases, service contracts, or other documents or agreements
affecting the Property, or any information contained in any rent roll furnished to Purchaser for the Property, (x) the value, economics of the operation or income potential of the Property, or (xi) any other fact or condition which may
affect the Property, including without limitation, the physical condition, value, economics of operation or income potential of the Property. The provisions of this Section 3.09 shall survive the Closing. Seller has specifically
bargained for the assumption by Purchaser of all responsibility to investigate the Property, laws and regulations and violations and of all risk of adverse conditions and has structured the 

  
 6 

 
Purchase Price and other terms of this Agreement in consideration thereof. Purchaser has, or will prior to expiration of the Review Period have, undertaken all such investigations of the
Property, laws and regulations, rights and violations as Purchaser deems necessary or appropriate under the circumstances as to the status of the Property and based upon same, except as is expressly set forth in this Agreement or the closing
documents to the contrary, Purchaser is and will be relying strictly and solely upon such inspections and examinations and the advice and counsel of its own consultants, agents, legal counsel and representatives and Purchaser is and will be fully
satisfied that the Purchase Price is fair and adequate consideration for the Property and, by reason of all the foregoing and subject to the terms of this Agreement and the closing documents, Purchaser assumes the full risk of any loss or damage
after the Closing occasioned by any fact, circumstance, condition or defect pertaining to the Property. The provisions of this Section 3.09 shall survive the Closing. 

ARTICLE IV 
 TITLE
MATTERS 
 Section 4.01 Seller will deliver to Purchaser: (i) a copy of Seller’s existing owner’s title insurance policy or
policies with respect to the Real Property (the “Existing Title Policies”); and (ii) a copy of any ALTA surveys for the Real Property, if any (the “Existing Surveys”). Within three (3) Business Days of the Effective
Date, Purchaser shall order from the Title Company, at Seller’s sole cost and expense, a commitment for a ALTA form owner’s policy of title insurance with respect the Real Property (the “Updated Title Commitment”), setting
forth the state of title to the Real Property and the Improvements. As provided in Section 3.04 herein, Purchaser, at Purchaser’s cost and expense (but subject to reimbursement from Seller pursuant to Section 6.02(b)
herein), may cause to be performed the Updated Survey and Seller shall cooperate and provide reasonable access to the Real Property for such purpose. Purchaser shall review the Updated Title Commitment and the Updated Survey during the Review Period
and may approve or disapprove of the matters disclosed in the Updated Title Commitment and Updated Survey as detailed below. Within ten (10) Business Days after the later of (a) receipt of the Updated Title Commitment, and (b) receipt
of the Updated Survey (but in no event later than ten (10) Business Days prior to the expiration of the Review Period), Purchaser shall give to Seller written notice of any objections (“Objections”) to any matters set forth in
the Updated Title Commitment and the Updated Survey. If no written notification of Objections is received by Seller from Purchaser within such time period, the title matters disclosed in the Updated Title Commitment and the Updated Survey shall be
deemed Permitted Exceptions. Notwithstanding anything herein to the contrary, Seller shall be obligated to remove (a) all monetary liens (“Monetary Liens”) (unless the same cannot be removed, through no fault of Seller, in
which case the Parties shall work with the Title Company to cause the same to be insured to Purchaser’s satisfaction), and (b) any and all easements, covenants and restrictions recorded from and after the Effective Date, unless consented
to in advance by Purchaser (the “Post-Contract Title Matters”). If Purchaser timely notifies Seller of any Objection(s) to title and survey matters, then Seller shall have a period of ten (10) Business Days after receipt of
notice of the Objections (“Seller’s Title Response Deadline”) in which to deliver written notice to Purchaser (“Seller’s Title Notice”) of Seller’s election to either agree to have such Objections removed or
insured against at or prior to Closing or decline to remove any such Objections (or cause same to be insured against to Purchaser’s satisfaction). If Seller notifies Purchaser of its election to not remove the Objections (or cause same to be
insured against to Purchaser’s satisfaction) or does not provide any notice within such 

  
 7 

 
ten (10) Business Day period (in which case Seller shall be deemed to have elected to not remove the Objections), Purchaser shall, by written notice delivered to Seller on or before the
later to occur of (i) the tenth (10th) Business Day following Purchaser’s receipt of Seller’s Title Notice or (ii) the tenth (10th) Business Day after the date of Seller’s Title Response Deadline, elect to either waive the unsatisfied Objections by notice in writing to Seller (in which event those Objections shall
become Permitted Exceptions) or terminate this Agreement by written notice to Seller, in which latter event the Parties shall be released from any further obligations and liabilities hereunder (except for those obligations and liabilities that
expressly survive termination of this Agreement). If Purchaser fails to timely terminate this Agreement pursuant to the preceding sentence, the Objection(s) that Seller did not agree to remove shall be deemed to be Permitted Exceptions. 

Section 4.02 Notwithstanding anything to the contrary contained herein, Seller shall not be required to bring any action or proceeding or take any
other steps to cure or remove any defects in or objections to title or to expend any monies therefor other than Monetary Liens and Post-Contract Title Matters. Purchaser hereby unconditionally and irrevocably waives any cause of action against
Seller at law or in equity for damages or specific performance in any way relating to Seller’s failure to cure or remove any defects in or objections to title to the Real Property other than Monetary Liens and Post-Contract Title Matters.
Seller shall, however, have the right at its option to endeavor to cure any title defects or Objections and for such purpose shall be entitled to one or more adjournments of the Closing, but not for more than sixty (60) days beyond the Closing
Date specified in Section 5.01 hereof. Purchaser’s obligations under this Agreement shall remain in full force and effect during any such adjournment period. 

Section 4.03 Conveyance. At the Closing, Seller will convey good and insurable fee simple title to the Real Property and the
Improvements to Purchaser by the Deed (as defined in Section 5.02(a) herein), and title to the Intangible Property by the Bill of Sale (as defined in Section 5.02(b) herein), free and clear of any and all deeds of trust,
mortgages or other liens or indebtedness; subject, however, to the following (collectively, the “Permitted Exceptions”): 

(a) all real estate taxes and assessments for the year in which the Closing occurs and subsequent years and not yet due and payable; 

(b) all easements, restrictions, rights-of-way, party wall agreements, encroachments, covenants, reservations, agreements, leases, tenancies,
licenses, conditions and other matters affecting all or any portion of the Property to the extent (i) reflected on Schedule B to the Updated Title Commitment and not objected to by Purchaser during the Review Period; (ii) reflected on the
Updated Survey and not objected to by Purchaser during the Review Period, (iii) objected to by Purchaser and ultimately waived by Purchaser pursuant to Section 4.01, or (iv) created by or consented and agreed to in writing by
Purchaser prior to or at the Closing; 
 (c) all applicable laws, statutes, ordinances, rules, regulations, including without limitation, all
zoning laws; 
 (d) matters created by, or with the written consent of, Purchaser; 

  
 8 

 (e) any exceptions disclosed by the Updated Title Commitment (as same may be updated from time to
time) or the Updated Survey which are approved by Purchaser or which are not timely objected to by Purchaser (other than monetary liens to be removed in accordance with Section 3.07 of this Agreement); and 

(f) standard policy “jacket” exclusions and exceptions from coverage contained in the form of the title policy or
“marked-up” title commitment employed by the Title Company that are not subject to removal upon Seller’s delivery of the Seller’s affidavit of title described below. 

Section 4.04 Owner Policy. At the Closing, the Title Company will issue, at Seller’s sole cost and expense, a standard ALTA
form Owner Policy of Title Insurance (the “Owner Policy”) in Purchaser’s favor in the amount of the Purchase Price, insuring Purchaser’s fee simple title to the Real Property and the Improvements, subject only to the
Permitted Exceptions, together with such endorsements as Purchaser may request. Purchaser may elect to purchase an extended ALTA Owner Policy or endorsements to the Owner Policy, which shall be at Purchaser’s cost and expense (but subject to
reimbursement from Seller pursuant to Section 6.02(b) herein). 
 Section 4.05 Mechanic’s Liens. Seller, at its own
expense, will obtain or cause to be obtained such lien waivers and releases, and will provide such affidavits and or certifications, as the Title Company may reasonably require in order for the Title Company to issue at the Closing the Owner Policy
that does not contain any exceptions for mechanic’s liens or materialman’s liens for work. 
 ARTICLE V 

CLOSING 
 Section 5.01
Closing. Subject to the satisfaction or waiver of the conditions to closing set forth in Article IX hereof, the purchase and sale of the Property (the “Closing”) will be held through escrow at the offices of the
Title Company on the date that is fifteen (15) days after the expiration of the Review Period, or such other date as Seller and Purchaser may agree (the date on which the Closing takes place being the “Closing Date”). 

Section 5.02 Seller’s Obligations. On or before the Closing Date, Seller shall execute and/or deliver to the Title Company in escrow
for Closing, the following with respect to the Property: 
 (a) A Deed for the Real Property (the “Deed”) substantially in
the forms attached hereto as Exhibit C-1 and Exhibit C-2 and made a part hereof for all purposes; 
 (b) Blanket Conveyance, Bill of Sale and
Assignment (“Bill of Sale”) substantially in the form attached hereto as Exhibit D and made a part hereof for all purposes; 

(c) FIRPTA Affidavit (the “FIRPTA Affidavit”) from Seller substantially in the form attached hereto as Exhibit E and
made a part hereof for all purposes; 
  

  
 9 

 (d) to the extent necessary to permit the Title Company to remove any exception in the Owner
Policy for mechanics’ and materialmen’s liens and general rights of parties in possession, an affidavit as to debts and liens and parties in possession executed by Seller, made to Purchaser and the Title Company and in a form reasonably
acceptable to the Title Company and Seller, along with a GAP Affidavit (if applicable) and any other items reasonably required by the Title Company; 

(e) Seller’s certification that, to Seller’s knowledge, all representations and warranties made by Seller under this Agreement are
true, complete and correct in all material respects as of the Closing Date (if accurate or, if not accurate, a description of the basis of such inaccuracy); 

(f) such evidence or documents as may reasonably be required by Purchaser or the Title Company evidencing the status and capacity of Seller and
the authority of the person or persons executing the various documents on behalf of Seller in connection with the sale of the Property; 

(g) Termination of the Leases; 

(h) the Facility Lease, duly executed by Facility Tenant, and the Facility Lease Guaranty, duly executed by Guarantor; 

(i) a mutually satisfactory closing/settlement statement; 

(j) intentionally omitted; 
 (k)
Any documents required by the state in which the applicable Real Property is located, with respect to the conveyance of a property interest in the Real Property; and 

(l) Any other documents, instruments or agreements required by the Title Company or reasonably necessary or customary to effectuate the
transaction contemplated by this Agreement. 
 As used herein, the term “to Seller’s knowledge” shall mean the actual knowledge of Michael
Cartwright, an individual, without the duty to inquire about or investigate the same. 
 Section 5.03 Purchaser’s Obligations. On or
before the Closing Date, Purchaser shall execute and/or deliver to the Title Company in escrow for Closing, the following: 
 (a) the
Purchase Price amount set forth in Section 2.02 (subject to a credit from Seller to reimburse Purchaser for Purchaser’s Closing Costs pursuant to Section 6.02(b)) by wire transfer of immediately available funds; 

(b) the Bill of Sale; 
 (c) the
Facility Lease; 
 (d) such evidence or documents as may reasonably be required by Seller or the Title Company evidencing the status and
capacity of Purchaser and the authority of the person or persons who are executing the various documents on behalf of Purchaser in connection with the acquisition of the Property; 

  
 10 

 (e) a mutually satisfactory closing/settlement statement; 

(f) Any documents required by the state in which the applicable Real Property is located, with respect to the conveyance of a property interest
in the Real Property; and 
 (g) Any other documents, instruments or agreements required by the Title Company or reasonably necessary or
customary to effectuate the transaction contemplated by this Agreement. 
 Section 5.04 Transfer of Roof and Other Warranties. Seller
shall use commercially reasonable efforts to obtain or cause to be obtained at Closing the consents of the issuers of any roof warranties and all other assignable warranties affecting the Property, if any, to the assignment of such roof warranties
and all other warranties at Closing from Seller to Purchaser or at Purchaser’s direction, to Facility Tenant. 
 Section 5.05
Possession. Possession of the Property must be delivered by Seller at the Closing, subject only to the Permitted Exceptions, the Facility Lease and the rights of patients and residents in occupancy. 

ARTICLE VI 
 CLOSING
COSTS 
 Section 6.01 No Prorations. The Parties acknowledge that (a) the Facility Lease will be a net lease and that Facility
Tenant will pay all taxes, assessments and utility charges in connection with the Facility Tenant’s use and occupancy of the Property which arise or are incurred on or after the Closing Date, and (b) Seller shall pay all taxes, assessments
and utility charges due at the time of Closing and in connection with the use and occupancy of the Property prior to the Closing Date. As a result, as between Seller and Purchaser there will be no apportionment at Closing of such taxes, assessments
and utility charges. 
 Section 6.02 Closing Costs. 

(a) At the Closing, Seller shall be responsible for payment of the following: (i) all documentary stamp, transfer, surtax, excise taxes,
or other levies or charges of any kind and nature, payable upon the transfer of the Property and/or recordation of the Deed; (ii) the cost of the Title Company’s charges and recording fees for recording satisfactions of mortgages;
(iii) the cost of the Owner Policy; (iv) the Title Company’s escrow charges; and (v) its own legal fees and costs (all of the foregoing, collectively the “Seller’s Closing Costs”). 

(b) At the Closing, Purchaser shall receive from Seller a credit against the Purchase Price in the amount equal to all costs and out-of-pocket
expenses incurred by Purchaser in initiating, processing and closing the transaction contemplated by this Agreement and the Facility Lease, including without limitation, costs of due diligence inspections, environmental phase one assessments,
property condition reports, attorneys’ fees and legal costs, premium costs 

  
 11 

 
associated with any endorsements to the Owner’s Policy or an extended ALTA Owner Policy or its equivalent which Purchaser elects to obtain and costs of the Updated Survey (all of the
foregoing, collectively the “Purchaser’s Closing Costs”). Notwithstanding the foregoing, Seller shall not be responsible for any costs and out-of-pocket expenses (except for attorneys’ fees and costs, which shall not
exceed $100,000) that Purchaser did not obtain Seller’s prior written consent to the same, which shall not be unreasonably withheld. Seller shall provide its approval to any proposed cost or out-of-pocket expenses within two (2) Business
Days of receipt of a written request from Purchaser. In the event Seller does not provide such consent within two (2) Business Days, the same shall be deemed approved by Seller. Further, upon receipt of Seller’s written request, Purchaser
shall promptly provide a detailed budget of such Purchaser’s Closing Costs. In the event Closing does not occur for any reason other than a Seller default, Seller shall not be obligated to reimburse Purchaser for any of the costs and expenses
pursuant to this Section 6.02(b). 
 (c) Brokerage Commissions. EACH PARTY HERETO REPRESENTS TO THE OTHER THAT
(I) THERE ARE NO REAL ESTATE COMMISSIONS, FINDERS’ FEES OR BROKERS’ FEES THAT HAVE BEEN OR WILL BE INCURRED IN CONNECTION WITH THIS AGREEMENT OR THE SALE OF THE PROPERTY, AND (II) SUCH PARTY HAS NOT AUTHORIZED ANY BROKER OR
FINDER TO ACT ON SUCH PARTY’S BEHALF IN CONNECTION WITH THE SALE AND PURCHASE HEREUNDER. EACH PARTY HERETO AGREES TO INDEMNIFY AND HOLD HARMLESS THE OTHER PARTY FROM AND AGAINST ANY AND ALL CLAIMS, LOSSES, DAMAGES, COSTS OR EXPENSES OF ANY KIND
OR CHARACTER ARISING OUT OF OR RESULTING FROM ANY AGREEMENT, ARRANGEMENT OR UNDERSTANDING ALLEGED TO HAVE BEEN MADE BY SUCH PARTY WITH ANY BROKER OR FINDER IN CONNECTION WITH THIS AGREEMENT OR THE TRANSACTION CONTEMPLATED HEREBY. THIS OBLIGATION
WILL SURVIVE THE CLOSING OR ANY EARLIER TERMINATION OF THIS AGREEMENT. 
 Section 6.03 Survival. The terms of this Article VI
shall survive any termination of this Agreement and the Closing and delivery of the Deed. Except for the provisions of this Agreement which are explicitly stated to survive the Closing, (a) none of the terms of this Agreement shall survive the
Closing, and (b) the delivery of the Deed, and other Closing documents and instruments by Seller and the acceptance thereof by Purchaser shall effect a merger, and be deemed the full performance and discharge of every obligation on the part of
Purchaser and Seller to be performed hereunder. 
 ARTICLE VII 

DEFAULT AND REMEDIES 
 Section 7.01
Termination of Agreement prior to Closing. This Agreement may be terminated and the transactions contemplated hereunder may be abandoned at any time prior to the Closing, as follows: 

(a) by mutual written consent of Seller and Purchaser; 

  
 12 

 (b) Seller may terminate this Agreement by giving written notice to Purchaser at any time prior
to the Closing (i) in the event that (A) Purchaser has materially breached any representation, warranty or covenant contained in this Agreement, (B) Seller has notified Purchaser of the breach, and (C) the breach has continued
without cure for a period of thirty (30) days after the notice of the breach, or (ii) if the Closing has not occurred on or before October 15, 2017 (the “Outside Closing Date”) (unless the failure results primarily
from Seller materially breaching any representation, warranty or covenant contained in this Agreement); or 
 (c) In addition to
Purchaser’s termination rights under Section 3.05 and Section 4.01 during the Review Period, Purchaser may terminate this Agreement by giving written notice to Seller and Escrow Agent at any time prior to the Closing (i) in the
event that (A) Seller has materially breached any representation, warranty or covenant contained in this Agreement, (B) Purchaser has notified Seller of the breach, and (C) the breach has continued without cure for a period of thirty
(30) days after the notice of the breach, or (ii) if the Closing has not occurred on or before the Outside Closing Date (unless the failure results primarily from Purchaser materially breaching any representation, warranty or covenant
contained in this Agreement). 
 Section 7.02 Notice of Termination; Effect of Termination. 

(a) If Purchaser or Seller seeks to terminate this Agreement pursuant to Section 7.01(b) or Section 7.01(c), such Party
will provide written notice of termination to such other Party specifying with particularity the reason for such termination. 
 (b) If
either Purchaser or Seller terminates this Agreement pursuant to Section 7.01, this Agreement will forthwith become void and there will be no liability or obligation on the part of any Party hereto (other than those liabilities that
expressly survive any termination of this Agreement); provided, however, that no such termination (or any provision of this Agreement) will relieve any Party from liability for damages arising out of fraud or a knowing or intentional breach of any
covenant hereunder. 
 Section 7.03 Purchaser’s Default. If this Agreement is terminated pursuant to Section 7.01(b),
Purchaser shall deliver to Seller, for its future use, all Reports pursuant to Section 3.06. Seller’s sole and exclusive remedy shall be to terminate this Agreement, and Seller shall be entitled to reimbursement from Purchaser of
Seller’s reasonable legal fees and costs incurred in connection with this Agreement (up to a maximum amount of $25,000), and upon payment of such reimbursement Purchaser shall be released from any further liability to Seller hereunder, except
for those provisions of this Agreement that expressly survive termination. 
 Section 7.04 Seller’s Default. If this Agreement is
terminated pursuant to Section 7.01(c), Purchaser’s sole and exclusive remedy shall be, and Purchaser shall be entitled, to terminate this Agreement by giving written notice of termination to Seller and Purchaser shall be entitled
to reimbursement from Seller of Purchaser’s (i) reasonable legal fees and costs incurred in connection with this Agreement, and (ii) reasonable third-party costs incurred by Purchaser in performing its due diligence of the Property,
up to a maximum reimbursement amount for the costs under clause (i) and clause (ii) of $25,000, whereupon Seller and Purchaser shall have no further rights, obligations, or liabilities under this Agreement, except for those obligations and

  
 13 

 
liabilities in this Agreement that expressly survive termination. Except as expressly set forth in the preceding sentence, Seller shall in no event whatsoever be liable to Purchaser for any other
damages of any kind whatsoever, and, except as expressly set forth in the preceding sentence, Purchaser hereby unconditionally and irrevocably waives any claim for monetary damages against Seller arising out of this Agreement including, without
limitation, any claim arising out of a default by Seller under this Agreement or arising out of a material breach of any representation or warranty of Seller contained in this Agreement, which waiver shall survive the termination of this Agreement.
Notwithstanding anything herein to the contrary, Seller’s failure to remove a Monetary Lien shall not qualify as the willful or intentional refusal to convey title to the Property as provided in this Agreement provided Seller uses commercially
reasonable efforts to obtain a payoff letter from any such lender. 
 Section 7.05 No Personal Liability. In no event shall any
officer, director, agent or employee of Purchaser or its partners be personally liable for any of Purchaser’s obligations under this Agreement or the documents to be delivered at the Closing. In no event shall any officer, director, agent or
employee of Seller or its partners be personally liable for any of Seller’s obligations under this Agreement or the documents to be delivered at the Closing. 

ARTICLE VIII 

REPRESENTATIONS, WARRANTIES AND COVENANTS 

Section 8.01 Seller’s Representations. Seller hereby represents and warrants to Purchaser as of the Effective Date, except as
set forth on Schedule 8.01 (the “Disclosure Schedule”) attached hereto and made a part hereof for all purposes, as follows: 

(a) Concorde is a duly organized and validly existing limited liability company in good standing under the laws of the State of Nevada and is
authorized to conduct business in the State of Nevada. Greenhouse is a duly organized and validly existing limited liability company in good standing under the laws of the State of Texas and is authorized to conduct business in the State of Texas.
This Agreement has been duly authorized, executed and delivered by Seller, and is, and at the time of the Closing will be, a legal, valid and binding obligation of Seller enforceable against Seller in accordance with its terms. 

(b) This Agreement constitutes a valid and binding obligation of Seller enforceable in accordance with its terms, except as such enforceability
may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws of general application affecting the rights and remedies of creditors. 

(c) To Seller’s knowledge, no consent, waiver, approval, or authorization of, or filing, registration, or qualification with, or notice
to, any government or any agency, body or subdivision thereof or any other entity or person (including without limitation, its directors, shareholders, partners or members) is required to be made, obtained, or given by Seller in connection with the
execution, delivery, and performance of this Agreement, except such consent, waiver, approval, authorization, filing, registration or qualification which has been made, obtained or given. The joinder of no entity or person other than Seller will be
necessary to convey the Property fully and completely to Purchaser upon Closing. 

  
 14 

 (d) Seller owns good and insurable fee simple title to the Real Property free and clear of all
conditions, exceptions, or reservations, except the Permitted Exceptions and mortgages and other monetary liens to be paid at Closing. Seller has not granted any option or right of first refusal or first opportunity to any person or entity to
acquire the Property or any interest therein. Seller has not entered into any agreement or understanding, either written or oral, pursuant to which any person or entity has the right to own, acquire, use or occupy any portion of the Property or any
interest therein (other than the Treatment Centers and patients and residents in occupancy). 
 (e) To Seller’s knowledge, Seller has
not received written notice of any (and there are no) current, proposed or threatened eminent domain or similar proceeding, or private purchase in lieu of such proceeding, which would affect the Property in any way whatsoever. 

(f) To Seller’s knowledge, Seller has not received any written notice of a claim that the Property does not comply with any federal,
state, county, city or any other laws, ordinances, rules and regulations, including, but not limited to, those relating to environmental, zoning, land use and division, building, fire, health and safety matters, of any government or any agency, body
or subdivision thereof bearing on the construction of the Improvements and on the operation, ownership or use of the Property (collectively, “Applicable Laws”), which noncompliance Seller has not cured. 

(g) Seller has not received a written notice of any pending or threatened, litigation which does or would affect the Property or such
Seller’s ability to fulfill all of its obligations under this Agreement. 
 (h) Seller is not a foreign corporation, foreign
partnership, foreign trust or foreign estate (as defined in the Internal Revenue Code (the “Code”), and is not subject to the provisions of Sections 897(a) or 1445 of the Code related to the withholding of sales proceeds to foreign
persons. 
 (i) Seller is not an employee benefit plan subject to the provisions of Title IV of ERISA or subject to the minimum funding
standards under Part 3, Subtitle B, Title I of ERISA or Section 412 of the Code or Section 302 of ERISA, and none of the assets of Seller constitutes or will constitute assets of any such employee benefit plan subject to Part 4, Subtitle
B, Title I of ERISA. Seller is not a “governmental plan” within the meaning of Section 3(32) of ERISA, and the funds used by Purchaser to acquire the Property are not subject to state statutes regulating investments of and fiduciary
obligations with respect to governmental plans. 
 (j) To Seller’s knowledge, there are no adverse parties in possession of the Property
or of any part thereof and no parties in possession thereof except Seller, Treatment Centers and patients and residents in occupancy thereof, and no third party has been granted any license, lease, or other right relating to the use or possession of
the Property except Seller, the Treatment Centers and its patients and residents in occupancy. 

  
 15 

 (k) Except as set forth in (1) that certain Phase I Environmental Site Assessment for the
Desert Hope Land dated December 2013 and prepared by Broadbent, (2) that certain Phase I Environmental Site Assessment for the Resolutions LV Land dated January 20, 2016, and prepared by Pennoni, (3) that certain Phase I Environmental
Site Assessment Report for the Greenhouse Land dated December 9, 2013, and prepared by Partner Engineering and Science, Inc., and (4) that certain Phase I Environmental Site Assessment for the Resolutions Arlington Facility dated
March 17, 2016, and prepared by Pennoni (collectively, the “Existing Phase I Reports”) and to Seller’s knowledge: (A) the Facilities are not in violation of any federal, state, local or administrative agency
ordinance, law, rule, regulation, order or requirement relating to environmental conditions or Hazardous Material (“Environmental Laws”); (B) Seller has not used, manufactured, generated, treated, stored, disposed of, or
released any Hazardous Material on, under or about the Property or transported any Hazardous Material over the Property in material violation of applicable Environmental Laws; (C) Seller has not installed, used or removed any storage tank on,
from or in connection with any Facility except in material compliance with applicable Environmental Laws, and there are no storage tanks or wells (whether existing or abandoned) located on, under or about the Facilities, and (D) no part of the
Facilities consists of any building materials that contain Hazardous Material. For the purposes hereof, “Hazardous Material” shall mean any substance, chemical, waste or other material which is listed, defined or otherwise
identified as “hazardous” or “‘toxic”‘ under any federal, state, local or administrative agency ordinance or law, including, without limitation, the Comprehensive Environmental Response, Compensation and Liability Act,
42 U.S.C. §§ 9601 et seq.; the Resource Conservation and Recovery Act, 42 U.S.C. §§ 6901 et seq.; the Federal Water Pollution Control Act, 33 U.S.C. §§ 1251 et seq.; the Clean Air Act, 42 U.S.C.
§§ 7401 et seq.; the Hazardous Materials Transportation Act, 49 U.S.C. §§ 1471 et seq.; Toxic Substances Control Act, 15 U.S.C. §§ 2601 et seq.; Refuse Act, 33 U.S.C. §§ 407 et seq.; Emergency Planning
and Community Right-To-Know Act, 42 U.S.C. §§ 11001 et seq.; Occupational Safety and Health Act, 29 U.S.C. §§ 65 et seq., as well as any formaldehyde, urea, polychlorinated biphenyls, petroleum, petroleum product or by-product,
crude oil, natural gas, natural gas liquids, liquefied natural gas, or synthetic gas usable for fuel or mixture thereof, radon, asbestos, and “source,” “special nuclear” and “by-product” material as defined in the
Atomic Energy Act of 1985, 42 U.S.C. §§ 3011 et seq. 
 (l) There are no attachments, executions, assignments for the benefit of
creditors, receiverships, conservatorships or voluntary or involuntary proceedings in bankruptcy or proceedings pursuant to any other debtor relief laws contemplated or filed by Seller or pending against Seller or the Property. 

(m) Seller is not subject to sanctions of the United States government or in violation of any federal, state, municipal or local laws,
statutes, codes, ordinances, orders, decrees, rules or regulations relating to terrorism or money laundering, including, without limitation, Executive Order No. 13224 on Terrorist Financing, effective September 24, 2001 (the
“Executive Order”) and the Uniting and Strengthening of America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 (Public Law 107-56, the “Patriot Act”). Seller is not a
“Prohibited Person”, which term is defined as follows: (i) a person or entity that is listed in the Annex to, or is otherwise subject to the provisions of, the Executive Order; (ii) a person or entity owned or controlled
by, or acting for or on behalf of, any person or entity that is listed in the Annex to, or is otherwise subject to the provisions of, the Executive Order; (iii) a person or entity with whom Seller is prohibited from dealing or otherwise
engaging in any transaction by any terrorism or anti-money laundering law, including the Executive Order and the Patriot Act; (iv) a person or entity who commits, threatens or conspires to commit or

  
 16 

 
supports “terrorism” as defined in the Executive Order; or (v) a person or entity that is named as a “specially designated national and blocked person” on the most
current list published by the U.S. Treasury Department Office of Foreign Asset Control at its official website, http://www.treas.gov/ofac/tllsdn.pdf or any replacement website or other replacement official publication of such list. 

(n) Each of Seller’s representations, warranties, covenants and certification set forth herein shall survive the Closing for a period of
six (6) months. 
 Section 8.02 Purchaser’s Representations. Purchaser hereby represents and warrants to Seller,
as of the Effective Date hereof, as follows: 
 (a) Organization. Purchaser is a duly organized and validly existing limited
liability company in good standing under the laws of the State of Delaware. This Agreement has been duly authorized, executed and delivered by Purchaser, and is, and at the time of the Closing will be, a legal, valid and binding obligation of
Purchaser enforceable against Purchaser in accordance with its terms. 
 (b) Binding Obligation. This Agreement constitutes a valid
and binding obligation of Purchaser enforceable in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws of general application affecting the rights and remedies
of creditors. 
 (c) Authority. Purchaser has the capacity and complete authority to enter into and perform this Agreement, and no
consent, approval or other action by any person or entity will be needed thereafter to authorize Purchaser’s execution and performance of this Agreement. 

(d) Approval. Subject to completing its inspection and due diligence review of the Property, Purchaser has received the final authority
or approval for the purchase of the Property in accordance with the provisions hereof. 
 (e) Purchaser is familiar with the source of funds
for the Purchase Price and represents that, to its knowledge after due inquiry and investigation, all such funds derived from legitimate business activities within the United States of America and/or from loans from a banking or financial
institution chartered or organized within the United States of America. Purchaser shall provide to Seller any and all documents, certifications or other evidence, as may be requested from time to time by Seller in its reasonable discretion,
confirming the source of funds for the Purchase Price (and that such funds derived from legitimate business activities). 
 (f) Purchaser is
not subject to sanctions of the United States government or in violation of any federal, state, municipal or local laws, statutes, codes, ordinances, orders, decrees, rules or regulations relating to terrorism or money laundering, including, without
limitation, the Executive Order and the Patriot Act. Purchaser is not a Prohibited Person. 
 (g) Purchaser does not and will not
(i) conduct any business or engage in making or receiving any contribution of funds, goods or services to or for the benefit of any Prohibited Person, (ii) deal in, or otherwise engage in, any transaction relating to any property or
interest in property blocked pursuant to the Executive Order, or (iii) engage in or conspire to engage in any transaction that evades or avoids, or has the purpose of evading or avoiding, or attempts to violate, any of the prohibitions set
forth in the Executive Order or the Patriot Act. 

  
 17 

 (h) Purchaser shall deliver to Seller any certification or other evidence reasonably requested
from time to time on or prior to the Closing Date by Seller, in its reasonable discretion, confirming Purchaser’s compliance with the provisions of this Section 8.02. 

(i) Purchaser is not (a) an “employee benefit plan” as defined in Section 3.3 of the Employee Retirement Income Security
Act of 1974 (“ERISA”), which is subject to Title I of ERISA, or a “plan” as defined in Section 4975(e)(1) of the Code, which is subject to Section 4975 of the Code; and (b) the assets of Purchaser do not
constitute “plan assets” of one or more such plans for purposes of Title I of ERISA or Section 4975 of the Code; and (c) Purchaser is not a “governmental plan” within the meaning of Section 3(32) of ERISA, and
assets of Purchaser do not constitute plan assets of one or more such plans; and (d) transactions by or with Purchaser are not in violation of state statutes applicable to Purchaser regulating investments of and fiduciary obligations with
respect to governmental plans. 
 (j) The representations and warranties of Purchaser in Section 8.02 shall survive the Closing
for the same period of time as Seller’s representations, and warranties survive under Section 8.01. 
 Section 8.03
Discovery. If Seller or Purchaser discovers, prior to or at the Closing, that any representation or warranty of the other Party is false, misleading or inaccurate in any material and adverse respect, (a) if Purchaser is the
discovering Party, Purchaser shall be entitled to pursue its remedies under Section 7.04 of this Agreement; and (b) if Seller is the discovering Party, Seller shall be entitled to pursue its remedies under Section 7.03
of this Agreement. 
 If the discovering Party elects to proceed to Closing, such Party cannot later bring a claim against the other as to
such discovered matter. 
 Section 8.04 Exclusivity. Unless and until this Agreement is terminated in accordance with its terms
prior to Closing, neither Seller, nor any of its employees, subsidiaries or agents shall engage, either directly or indirectly, in discussions with any third parties regarding the sale of, leaseback of, or additional financing services for, the
Property. 
 ARTICLE IX 

CONDITIONS PRECEDENT 

Section 9.01 Purchaser’s Conditions Precedent. Purchaser shall not be obligated to perform under this Agreement unless
all of the following conditions precedent are satisfied (or waived in writing by Purchaser) and are otherwise true and correct as of the Closing Date: 

(a) All of Seller’s representations and warranties shall be true and correct in all material respects. 

(b) Seller shall have performed all of its covenants, agreements, and obligations under this Agreement in all material respects and shall
otherwise not be in default. 

  
 18 

 (c) There shall not have been any material adverse change with respect to the Property or the
matters reflected in the Title Commitment or the Updated Survey as approved by Purchaser during the Review Period, except to reflect those items otherwise authorized by this Agreement or approved or otherwise created in writing by Purchaser. 

(d) Purchaser, as landlord, and Facility Tenant, as tenant, shall have executed and delivered to the other the Facility Lease in substantially
the form attached hereto as Exhibit F hereto (which shall be in a form mutually acceptable to the Parties); and Guarantor shall have executed and delivered to Purchaser the Facility Lease Guaranty (in the form attached as an exhibit to the
executed Facility Lease). 
 (e) There shall not be outstanding any past due (i) taxes and other assessments applicable to the Property,
or (ii) gas, electricity or other utility charges applicable to the Property. 
 (f) All necessary licenses and other governmental
consents, approvals and certifications required in connection with the operation of the Facilities by Facility Tenant as drug and alcohol outpatient treatment centers and sober lodging facilities shall be in full force and effect without any waivers
or conditions, and any and all necessary governmental inspections and approvals required in connection with the transactions contemplated hereby shall have been favorably completed. 

(g) All necessary governmental consents, approvals and notifications shall have been obtained or completed in accordance with applicable law
for the transfer of the ownership of the Property to Purchaser. The Parties will provide any and all information necessary with regard to the foregoing. 

(h) The Commencement Date (as such term is defined in the Facility Lease) shall have occurred or shall occur simultaneously with the Closing.

 (i) This Agreement and the transaction contemplated herein shall have been approved by the Investment Committee and the Board of Directors
of MedEquities Realty Trust, Inc., the parent company of Purchaser. 
 Seller shall use reasonable efforts to satisfy each of the conditions
precedent set forth in this Section 9.01. If any of the foregoing conditions precedent in this Section 9.01 shall not be satisfied as of the Closing Date, Purchaser may either (a) waive in writing any unsatisfied
conditions and proceed to close the transaction, (b) elect to extend the Outside Closing Date for up to an additional thirty (30) days by written notice to Seller and Escrow Agent, or (c) terminate this Agreement by giving written
notice to Seller and Escrow Agent. If Purchaser elects to close, Purchaser will be deemed to have waived any conditions actually known by Purchaser to be unsatisfied at the Closing. 

  
 19 

 Section 9.02 Seller’s Conditions Precedent. Seller shall not be obligated to
perform under this Agreement unless all of the following conditions precedent are satisfied (or waived in writing by Seller) and are otherwise true and correct as of the Closing Date: 

(a) All of Purchaser’s representations and warranties shall be true and correct in all material respects. 

(b) Purchaser shall have performed all of its covenants, agreements, and obligations under this Agreement in all material respects and shall
otherwise not be in default. 
 (c) Seller, as landlord, and Facility Tenant, as tenant, shall have executed and delivered to the other the
Facility Lease in substantially the form attached hereto as Exhibit F hereto (which shall be in a form mutually acceptable to the Parties). 

Purchaser shall use reasonable efforts to satisfy each of the conditions precedent set forth in this Section 9.02. If any of the
foregoing conditions precedent in this Section 9.02 shall not be satisfied as of the Closing Date, Seller may either (a) waive in writing any unsatisfied conditions and proceed to close the transaction, (b) elect to extend the
Outside Closing Date for up to an additional thirty (30) days by written notice to Purchaser and Escrow Agent, or (c) terminate this Agreement by giving written notice to Purchaser and Escrow Agent. If Seller elects to close, Seller will
be deemed to have waived any conditions actually known by Seller to be unsatisfied at the Closing. 
 ARTICLE X 

NOTICES 
 Section 10.01
Notices. Any notice, demand or other communication which may or is required to be given under this Agreement must be in writing and must be: (a) personally delivered; (b) transmitted by United States postage prepaid mail,
registered or certified mail, return receipt requested; (c) transmitted by reputable overnight courier service, such as Federal Express; or (d) transmitted by electronic mail to Purchaser and Seller as listed below. Notice to one Purchaser
shall constitute notice to all Purchaser and notice to one Seller shall constitute notice to all Seller. 
 Except as otherwise specified
herein, all notices and other communications shall be deemed to have been duly given on (i) the date of receipt if delivered personally, (ii) two (2) business days after the date of posting if transmitted by registered or certified
mail, return receipt requested, (iii) the first (1st) business day after the date of notice, if transmitted by reputable overnight courier service, or (iv) the date of transmission by electronic mail, if received on a Business Day by
5 p.m. local time; otherwise, it shall be deemed delivered the next Business Day. A notice or other communication not given as herein provided shall only be deemed given if and when such notice or communication and any specified copies are actually
received in writing by the Party and all other persons to whom they are required or permitted to be given. 
 Purchaser and Seller may
change their respective addresses for purposes hereof by notice given to the other Party in accordance with the provisions of this Section, but such notice shall not be deemed to have been duly given, unless and until it is actually received by the
other Party. Notices hereunder shall be directed as follows: 

  
 20 

			
	 If to Purchaser:
	  	 c/o MedEquities Realty Trust, Inc.
 3100 West
End Ave, Suite 1000
 Nashville, TN 37203
 Attention: William C.
Harlan, President
 Telephone: (615) 627-4714
 Facsimile:
(615) 658-8141
 Email: wharlan@medequities.com

		
	 With a copy to:
	  	 Waller Lansden Dortch & Davis, LLP
 511
Union St., Ste. 2700
 Nashville, TN 37219
 Attention: Jeffrey
A. Calk, Esq.
 Telephone: (615) 850-8129
 Facsimile:
(615) 244-6804
 Email: jeff.calk@wallerlaw.com

		
	 If to Seller:
	  	 c/o American Addiction Centers
 200 Powell
Place
 Brentwood, TN 37027
 Attn: Michael Cartwright

Email: michael@contactaac.com

		
	 With a copy to:
	  	 c/o American Addiction Centers
 200 Powell
Place
 Brentwood, TN 37027
 Attn: Kathryn Sevier Phillips,
Esq., General Counsel
 Email: ksphillips@contactaac.com

		
	 With a copy to:
	  	 Reisman Sorokac
 8965 S. Eastern Avenue, Suite
382
 Las Vegas, Nevada 89123
 Attn: Elizabeth M. Sorokac, Esq.,
and
 Jacqueline N. Walton, Esq
 Telephone:
(702) 727-6258
 Email: esorokac@rsnvlaw.com and jwalton@rsnvlaw.com

		
	 If to Escrow Agent:
	  	 First American Title Insurance Company
 2500
Paseo Verde Parkway #120
 Henderson, NV 89074
 Attn: Nikki
Prine
 Telephone: (702) 855-0860
 Email:
nprine@firstam.com

 Purchaser’s counsel may deliver any notice required or otherwise permitted to be given by Purchaser hereunder with the
same effect as if given directly by Purchaser. 

  
 21 

 ARTICLE XI 

FIRE OR OTHER CASUALTY; CONDEMNATION 

Section 11.01 Casualty Damage. In the event of a material loss or damage to the Property prior to the Closing Date, Purchaser shall have
the option of terminating this Agreement by written notice to Seller, in which event Purchaser shall thereupon be released from any and all liability hereunder (other than those liabilities that expressly survive any termination of this Agreement).
If Purchaser elects not to terminate this Agreement, Purchaser and Seller shall proceed with the Closing, provided Seller shall assign (at or after Closing) to Purchaser all of Seller’s right, title and interest to any claims and proceeds
Seller may have with respect to any casualty insurance policies relating to the Facilities, and subject to the proviso at the end of this sentence, Purchaser shall receive a credit against the Purchase Price in an amount equal to the aggregate
amount of any deductible(s) under the insurance policies assigned to Purchaser, together with the uninsured portion of any such damage. A “material” loss or damage means any casualty at the Property where the cost to remedy same exceeds
$250,000.00. 
 Section 11.02 Seller and Purchaser Risk. Except as set forth in Section 11.01, Seller shall bear the risk of
loss until Closing. Upon the Closing, full risk of loss with respect to the Property shall pass to Purchaser, except to the extent such loss is the responsibility of the Facility Tenant pursuant to the Facility Lease. 

Section 11.03 Condemnation. If before the Closing any condemnation or eminent domain proceedings are initiated against all or any portion
of the Real Property or Improvements and, in the reasonable opinion of Purchaser, such condemnation or eminent domain proceedings would materially interfere with the current use of the Facilities, then Purchaser may terminate this Agreement upon
written notice to Seller and thereupon Seller and Purchaser shall be released from any and all further liability hereunder (other than those liabilities that expressly survive termination of this Agreement). If Purchaser does not elect to terminate
this Agreement within ten (10) business days after receipt of written notice of the commencement of any such proceedings, or if, in the reasonable opinion of Purchaser, such condemnation or eminent domain proceedings would not materially
interfere with Seller’s current use of the Property, Seller shall assign to Purchaser at the Closing all rights and interest of Seller in and to any condemnation awards payable or to become payable on account of such condemnation or eminent
domain proceedings. 
 Section 11.04 Survival of Provisions. The provisions of this Article XI shall survive the Closing.

 ARTICLE XII 
 ESCROW

 Section 12.01 Instructions. This Agreement, together with such further written instructions provided to Escrow Agent, will
constitute the “Escrow Instructions.” If any requirements relating to the duties or obligations of Escrow Agent hereunder are not acceptable to Escrow Agent, or if Escrow Agent requires additional instructions, the Parties will
agree to additional instructions that will not substantially alter the terms of this Agreement unless otherwise expressly agreed by the Parties. 

  
 22 

 Section 12.02 Deposits Into Escrow. Both Parties will make its deposits into escrow
(“Escrow”) in accordance with this Agreement. Escrow Agent is hereby authorized to close the Escrow only if and when: (i) Escrow Agent has received all items to be delivered by Seller and Purchaser as required herein; and
(ii) Escrow Agent is irrevocably obligated to issue the Owner Policy. 
 Section 12.03 Close of Escrow. Provided that Escrow
Agent has not received timely written notice from Purchaser or Seller of the termination of this Agreement or the failure of any condition precedent to the Closing pursuant to Article IX herein, and if and when Purchaser and Seller have
deposited into Escrow all documents and funds required by this Agreement and Escrow Agent is irrevocably obligated to issue the Owner Policy, Escrow Agent will: 

(a) Record the Deeds for the Property in the proper jurisdiction; 

(b) Deliver to Purchaser: (1) the Owner Policy; (2) the recorded Deeds; (3) fully executed original counterpart copies of the
documents delivered by the Parties as required herein; and (4) copies of any other Closing documents; and 
 (c) Deliver to Seller:
(1) the Purchase Price, after satisfying Closing costs to be paid by Seller pursuant to this Agreement; (2) fully executed original counterpart copies of the documents delivered by the Parties as required herein; and (3) copies of any
other Closing documents. 
 ARTICLE XIII 

MISCELLANEOUS 
 Section 13.01
Entire Agreement. This Agreement constitutes the entire agreement among the Parties hereto and supersedes any prior understanding, letter of intent or written or oral agreements among the Parties concerning the Property. 

Section 13.02 No Rule of Construction. This Agreement has been drafted by both Seller and Purchaser and no rule of construction
shall be invoked against either Party with respect to the authorship hereof or of any of the documents to be delivered by the respective Parties at the Closing. 

Section 13.03 Multiple Counterpart; Governing Law. This Agreement may be executed in multiple counterparts each of which shall be
deemed an original but together shall constitute one and the same instrument, and shall be construed and interpreted under the laws of the State of Delaware (without regard to conflicts of laws). This Agreement may be executed by pdf or facsimile
signatures of one or more of the Parties hereto, which signatures shall be binding on such Parties as if original signatures were obtained. 

Section 13.04 Attorneys’ Fees. Except as otherwise expressly provided herein, if any attorney is engaged to enforce or defend
any provision of this Agreement or as a consequence of any default under or breach of this Agreement, with or without the filing of any legal action or proceeding, and including, without limitation, any fees and expenses incurred in any bankruptcy
proceeding or in connection with any appeal of a lower court decision, the prevailing Party, as agreed to by the Parties or as determined by the court, shall be entitled to its reasonable attorneys’ fees and expenses and all costs incurred in
connection therewith. The provisions of this Section 13.04 shall survive the Closing or the termination of this Agreement. 

  
 23 

 Section 13.05 Interpretation. This Agreement shall, unless otherwise specified herein,
be subject to the following rules of interpretation: (a) the singular includes the plural and the plural the singular; (b) words importing any gender include the other genders; (c) references to persons or entities include its
permitted successors and assigns; (d) words and terms which include a number of constituent parts, things or elements, including the terms Improvements, Permitted Exceptions, Personal Property, Intangible Property and Property, shall be
construed as referring separately to each constituent part, thing or element thereof, as well as to all of such constituent parts, things or elements as a whole; (e) references to statutes are to be construed as including all rules and
regulations adopted pursuant to the statute referred to and all statutory provisions consolidating, amending or replacing the statute referred to; (f) references to agreements and other contractual instruments shall be deemed to include all
subsequent amendments thereto or changes therein entered into in accordance with its respective terms; (g) the words “approve” or “consent” or “agree” or derivations of said words or words of similar import mean,
unless otherwise expressly provided herein or therein, the prior approval, consent, or agreement in writing of the person holding the right to approve, consent or agree with respect to the matter in question, and the words “require” or
“judgment” or “satisfy” or derivations of said words or words of similar import mean the requirement, judgment or satisfaction of the person who may make a requirement or exercise judgment or who must be satisfied, which
approval, consent, agreement, requirement, judgment or satisfaction shall, unless otherwise expressly provided herein or therein, be in the sole and absolute discretion of the person holding the right to approve, consent or agree or who may make a
requirement or judgment or who must be satisfied; (h) the words “include” or “including” or words of similar import shall be deemed to be followed by the words “without limitation”; (i) the words
“hereto” or “hereby” or “herein” or “hereof” or “hereunder,” or words of similar import, refer to this Agreement in its entirety; (j) references to sections, articles, paragraphs or clauses are
to the sections, articles, paragraphs or clauses of this Agreement; and (k) numberings and headings of sections, articles, paragraphs and clauses are inserted as a matter of convenience only and shall not affect the construction of this
Agreement. 
 Section 13.06 Exhibits. The exhibits attached hereto shall be deemed to be an integral part of this Agreement. 

Section 13.07 Modifications. This Agreement cannot be changed orally, and no executory agreement shall be effective to waive,
change, modify or discharge it in whole or in part unless such executory agreement is in writing and is signed by the Parties against whom enforcement of any waiver, change, modification or discharge is sought. Any such modification need not be
joined in by the Title Company. 
 Section 13.08 Reporting Person. Purchaser and Seller hereby designate the Title Company as the
“reporting person” pursuant to the provisions of Section 6045(e) of the Code of 1986, as amended. 

  
 24 

 Section 13.09 Time of Essence. Time is of the essence to both Seller and Purchaser in
the performance of this Agreement, and they have agreed that strict compliance by all of them is required as to any date and/or time set out herein. If the final day of any period of time set out in any provision of this Agreement falls upon a
Saturday, Sunday or a legal holiday under the laws of the State in which the Property is located, then and in such event, the time of such period shall be extended to the next day which is not a Saturday, Sunday or legal holiday. As used in this
Agreement, the term “Business Day” shall mean a day other than a Saturday or Sunday that is not an official Federal or state holiday in the State in which the Property is located. 

Section 13.10 Restructuring. If Purchaser determines, in its sole discretion, that the structure of the transactions contemplated
hereunder may jeopardize Purchaser’s ability to qualify as a Real Estate Investment Trust under the Code, then Purchaser and Seller agree to use commercially reasonable efforts to modify the structure of the transactions contemplated hereunder
in such a way as to not to jeopardize such qualification, provided, however, such modified structure shall not result in detrimental economics to any Party. 

Section 13.11 Assignment by Purchaser. This Agreement is binding upon and will inure to the benefit of the Parties and its
respective heirs, legal representatives, and permitted successors and assigns. Purchaser shall not assign this Agreement or its rights hereunder to any individual or entity without the prior written consent of Seller, which consent Seller may grant
or withhold in its sole discretion, and any such assignment shall be null and void ab initio, except that Purchaser may (a) collaterally assign its rights under this Agreement to a lender, and (b) assign its rights under this Agreement to
one or more entities directly or indirectly affiliated, controlled by, controlling, or under common control with Purchaser. In the event of any permitted assignment by Purchaser, other than a collateral assignment to a lender, any assignee shall
assume any and all obligations and liabilities of Purchaser under this Agreement but, notwithstanding such assumption, Purchaser shall continue to be liable hereunder. 

Section 13.12 No Recordation. Seller and Purchaser agree that neither this Agreement nor any memorandum or notice hereof shall be
recorded, and Purchaser agree (a) not to file any notice of pendency or other instrument (other than a judgment) against the Property or any portion thereof in connection herewith and (b) to indemnify, defend and hold harmless Seller
against all liabilities, including, without limitation, reasonable attorneys’ fees and expenses, incurred by Seller by reason of the filing by Purchaser of such notice of pendency or other instrument; provided however, notwithstanding the
foregoing to the contrary, in the event Seller willfully or intentionally refuses to convey title and Purchaser commences and action for specific performance, then Purchaser will have the right to file a notice of lis pendens in the real property
records in the county where the Property is located announcing that a lawsuit involving the Property is pending in a specific court. 

Section 13.13 Additional Agreements; Further Assurances. Subject to the terms and conditions herein provided, each of the Parties
hereto shall execute and deliver such documents as the other Party shall reasonably request in order to consummate and make effective the transactions contemplated by this Agreement; provided, however, that the execution and delivery of such
documents by such Party shall not result in any additional liability or cost to such Party. 
 Section 13.14 Enforceability. If
any term or provision of this Agreement or the application thereof to any person, property or circumstance shall to any extent be invalid or unenforceable, the remainder of this Agreement, or the application of such term or provision to persons,
property or circumstances other than those as to which it is invalid or unenforceable, shall not be 

  
 25 

 
affected thereby and each term and provision of this Agreement shall be valid and be enforceable to the fullest extent permitted by law, and the court which determined that a provision is invalid
or unenforceable shall be asked to interpret this Agreement in a manner so that the Parties receive the benefit of its bargain. 
 Section 13.15
Third Party Beneficiaries. The Parties hereby acknowledge and agree that there are no third party beneficiaries to this Agreement, and, accordingly, no third party shall have the right to enforce this Agreement for the benefit of
such third party or against the interests of the Parties. The provisions of this Section 13.15 shall survive the termination of this Agreement or the Closing. 

Section 13.16 Waiver of Jury Trial. EACH PARTY HEREBY WAIVES TRIAL BY JURY IN ANY PROCEEDINGS BROUGHT BY THE OTHER PARTY IN
CONNECTION WITH ANY MATTER ARISING OUT OF OR IN ANY WAY CONNECTED WITH THE TRANSACTION, THIS AGREEMENT, THE PROPERTY OR THE RELATIONSHIP OF PURCHASER AND SELLER HEREUNDER. 

[signatures on the following pages] 

  
 26 

 IN WITNESS WHEREOF, this Agreement has been executed by Purchaser and Seller as of the Effective
Date. 
 PURCHASER: 
 MEDEQUITIES REALTY OPERATING
PARTNERSHIP, LP, 
 a Delaware limited partnership 
 By:
MedEquities OP GP, LLC, a Delaware limited liability company 
 Its: General Partner 

 

			
	By	 	 : /s/ Jeffrey C. Walraven

	Print Name: Jeffrey C. Walraven
	Title: Chief Financial Officer
	Date: August 7, 2017

 SELLER: 
 CONCORDE REAL
ESTATE LLC, a Nevada limited liability company 
  

			
	By:	 	 /s/ Kirk Manz

		 	Kirk Manz, Chief Financial Officer

 BHR GREENHOUSE REAL ESTATE, LLC, a
Texas limited liability company 

			
		
	By:	 	 /s/ Kirk Manz

		 	Kirk Manz, Chief Financial Officer

 Acknowledged and agreed to by the
Escrow Agent: 

			
	
	
	 /s/ Nikki Prine

	Nikki Prine
	Date: August 7, 2017

  
 27 

 EXHIBIT A-1 

LEGAL DESCRIPTION OF DESERT HOPE LAND 

PARCEL I: 
 LOT THIRTY-SEVEN (37) IN BLOCK TEN
(10) OF PARADISE PALMS SUBDIVISION UNIT NO. 7, AS SHOWN BY MAP THEREOF ON FILE IN BOOK 6 OF PLATS, PAGE 86, IN THE OFFICE OF THE COUNTY RECORDER OF CLARK COUNTY, NEVADA. 

PARCEL II: 
 LOT THIRTY-EIGHT (38) AND THE NORTH HALF
(N  1⁄2) OF LOT THIRTY-NINE (39) IN BLOCK TEN (10) OF PARADISE PALMS SUBDIVISION UNIT NO. 7 AS SHOWN BY MAP THEREOF ON FILE IN BOOK 6 O PLATS, PAGE
86, IN THE OFFICE OF THE COUNTY RECORDER OF CLARK COUNTY, NEVADA. 

 EXHIBIT A-2 

LEGAL DESCRIPTION OF RESOLUTIONS LV LAND 

The land referred to in this Commitment is situated in the City of Las Vegas, County of Clark, State of Nevada, and is described as follows: 

A PORTION OF THE SOUTH HALF (S 1/2) OF THE NORTHEAST QUARTER (NE 1/4) OF SECTION 27, TOWNSHIP 20 SOUTH, RANGE 61 EAST, M.D.M., CITY OF LAS VEGAS, CLARK COUNTY,
NEVADA, BEING DESCRIBED AS FOLLOWS: 
 LOT 1 AS SHOWN BY MAP THEREOF IN FILE 121 OF PARCEL MAPS, PAGE 87 IN THE OFFICE OF THE COUNTY
RECORDER, CLARK COUNTY, NEVADA. 

 EXHIBIT A-3 

LEGAL DESCRIPTION OF GREENHOUSE LAND 

Site 8, Block 1, a Revised Final Plat of portion of Block 1 out of Section 2, Second Revision Brookhollow/Arlington, Tarrant County, Texas, according to
the plat recorded in Volume 388-122, page 11, Plat Records, Tarrant County, Texas. 

  

 EXHIBIT A-4 

LEGAL DESCRIPTION OF RESOLUTIONS ARLINGTON LAND 

TRACT 1: (Fee Simple) 
 BEING a 2.54 acre tract of land
situated in the WILLIAM O’NEAL, ABSTRACT NO. 1190, Tarrant County, Texas, same being a portion of Lot 17, William O’Neal Addition, an Addition to the City of Arlington, Tarrant County, Texas, according to the plat thereof recorded in
Volume 388-190, Page 90, of the Plat Records of Tarrant County, Texas, same being a portion of that certain tract of land conveyed to Jim Sehgal & Rita Sehgal, Trustees of the Sehgal Revocable Living Trust, by Deed recorded in Instrument
No. D205028887, of the Deed Records of Tarrant County, Texas, and being more particularly described as follows: 
 BEGINNING at a 1 inch iron rod found for
corner, said point being the Northwest corner of said Lot 17, same being the Northwest corner of said 2.54 acre tract, same being the Southwest corner of Lot 1-B-R, Block 2, of Walnut Addition, an addition to the City of Arlington, Tarrant County,
Texas, according to the plat thereof recorded in Volume 388-98, Page 65, of said Plat Records, same being in the East right-of-way line of West N’ Wild Way (a variable width right-of-way); 

THENCE South 89 degrees 25 minutes 42 seconds East, along the common North line of said Lot 17, the North line of said 2.54 acre tract, and the South line of
said a Lot 1-B-R, a distance of 246.50 feet to a point for corner, said point being the Northeast corner of said Lot 17, same being the Northeast corner of said 2.54 acre tract, same being the Northwest corner of Lot 20, of William O’Neal
Addition, an addition to the City of Arlington, Tarrant County, Texas, according to the plat thereof recorded in Cabinet A, Slide 381, of said Plat Records; 

THENCE South 00 degrees 01 minute 12 seconds West, along the common East line of said Lot 17, the East line of said 2.54 acre tract, and the West line of said
Lot 20, a distance of 490.16 feet to a point for corner, said point being the Northeast corner of a 2,253 square foot tract of land described in Water Sanitary Sewer Easement Exhibit by Graham Associates, Inc. Project No. 874-2423, dated
October 2006, approved by Charles F. Stark, State of Texas R.P.L.S. No. 5084, same being the Southeast corner of said 2.54 acre tract; 
 THENCE North
89 degrees 25 minutes 02 seconds West, along the common South line of said 2.54 acre tract, and the North line of said easement, same being through the interior of said Lot 17, a distance of 131.50 feet to a point for corner, said point being the
most southerly Southwest corner of said 2.54 acre tract, same being the northwest corner of said easement, same being in a non-tangent curve to the right having a radius of 365.00 feet, and a delta angle of 05 degrees 37 minutes 30 seconds, same
being in the East right-of-way line of said West N’ Wild Way; 
 THENCE in a northwesterly direction, along said East right-of-way line, the West line
of said 2.54 acre tract, the West line of said Lot 17, and along said curve to the right, an arc distance of 35.83 feet, and a chord bearing and distance of North 51 degrees 08 minutes 33 seconds West, 35.82 feet to a cut “X” in concrete
set for corner, said point being on angle point in the West line of said Lot 17, and said 2.54 acre tract; 

 THENCE North 26 degrees 07 minutes 17 seconds West, along the common West line of said Lot 17 and said 2.54 acre
tract, and said East right-of-way line, a distance of 194.56 feet to a 3/8 inch iron rod found for corner, said point being on angle point in the West line of said Lot 17, and said 2.54 acre tract; 

THENCE North 00 degrees 20 minutes 42 seconds West, along the common West line of said Lot 17, and said East right-of-way line, a distance of 294.94 feet to
the POINT OF BEGINNING and containing 110.719 square feet or 2.54 acres of computed land. 
 [LEGAL DESCRIPTION CONTINUES ON NEXT PAGE] 

 TRACT 2: (Fee Simple) 

Real property in the City of Arlington, County of Tarrant, State of Texas, described as follows: 

BEING LOT 17 OF WILLIAM O’NEAL ADDITION, AN ADDITION TO THE CITY OF ARLINGTON, TARRANT COUNTY, TEXAS, ACCORDING TO THE MAP THEREOF RECORDED IN VOLUME
388-190, PAGE 90, OF THE PLAT RECORDS OF TARRANT COUNTY, TAXES. 
 SAVE AND EXCEPT: 

SMALL TRIANGULAR TRACT AT SOUTHWESTERLY CORNER OF LOT 17 THAT IS SHOWN ON PLAT 388190/90 AS RIGHT-OF-WAY DEDICATION TO THE CITY OF ARLINGTON. 

SAVE AND EXCEPT: 
 BEING A 2.54 ACRE TRACT OF LAND SITUATED IN
THE WILLIAM O’NEAL, ABSTRACT NO. 1190, TARRANT COUNTY, TEXAS, SAME BEING A PORTION OF LOT 17, WILLIAM O’NEAI ADDITION, AN ADDITION TO THE CITY OF ARLINGTON, TARRANT COUNTY, TEXAS, ACCORDING TO THE PLAT THEREOF RECORDED IN VOLUME 388-190,
PAGE 90, OF THE PLAT RECORDS OF TARRANT COUNTY, TEXAS, SAME BEING A PORTION OF THAT CERTAIN TRACT OF LAND CONVEYED TO JIM SEHGAL & RITA SEHGAL, TRUSTEES OF THE SEHGAL REVOCABLE LIVING TRUST, BY DEED RECORDED IN INSTRUMENT NO. D205028887, OF THE
DEED RECORDS OF TARRANT COUNTY, TEXAS, AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: 
 BEGINNING AT A 1 INCH IRON ROD FOUND FOR COMER, SAID POINT BEING
THE NORTHWEST COMER OF SAID LOT 17, SAME BEING THE NORTHWEST CORNER OF SAID 2.54 ACRE TRACT, SAME BEING THE SOUTHWEST CORNER OF LOT 1-B-R, BLOCK 2, OF WALNUT ADDITION, AN ADDITION TO THE CITY OF ARLINGTON, TARRANT COUNTY, TEXAS, ACCORDING TO THE
PLAT THEREOF RECORDED IN VOLUME 388- 98, PAGE 65, OF SAID PLAT RECORDS, SAME BEING IN THE EAST RIGHT-OF-WAY LINE OF WEST N’ WILD WAY (A VARIABLE WIDTH RIGHT-OF-WAY); 

THENCE SOUTH 89 DEGREES 25 MINUTES 42 SECONDS EAST, ALONG THE COMMON NORTH LINE OF SAID LOT 17, THE NORTH LINE OF SAID 2.54 ACRE TRACT, AND THE SOUTH LINE OF
SAID A LOT 1-B R, A DISTANCE OF 246.50 FEET TO A POINT FOR CORNER, SAID POINT BEING THE NORTHEAST CORNER OF SAID LOT 17, SAME BEING THE NORTHEAST CORNER OF SAID 2.54 ACRE TRACT, SAME BEING THE NORTHWEST CORNER OF LOT 20, OF WILLIAM O’NEAI
ADDITION, AN ADDITION TO THE CITY OF ARLINGTON, TARRANT COUNTY, TEXAS, ACCORDING TO THE PLAT THEREOF RECORDED IN CABINET A, SLIDE 381, OF SAID PLAT RECORDS; 

THENCE SOUTH 00 DEGREES 01 MINUTE 12 SECONDS WEST, ALONG THE COMMON EAST LINE OF SAID LOT 17, THE EAST LINE OF SAID 2.54 ACRE TRACT, AND THE WEST LINE OF SAID
LOT 20, A DISTANCE OF 490.16 FEET TO A POINT FOR CORNER, SAID POINT BEING THE NORTHEAST COMER OF A 2,253 SQUARE FOOT TRACT OF LAND DESCRIBED IN WATER SANITARY SEWER EASEMENT EXHIBIT BY GRAHAM ASSOCIATES, INC., PROJECT NO. 874-2423, DATED OCTOBER
2006, APPROVED BY CHARLES F. STARK, STATE OF TEXAS R.P.L.S. NO. 5084, SAME BEING THE SOUTHEAST CORNER OF SAID 2.54 ACRE TRACT; 
 THENCE NORTH 89 DEGREES 25
MINUTES 02 SECONDS EAST, ALONG THE COMMON SOUTH LINE OF SAID 2.54 ACRE TRACT, AND THE NORTH LINE OF SAID EASEMENT, SAME BEING THROUGH THE INTERIOR OF SAID LOT 17, A DISTANCE OF 13L.50 FEET TO A POINT FOR COMER, SAID POINT BEING THE MOST SOUTHERLY
SOUTHWEST CORNER OF SAID 2.54 ACRE TRACT, SAME BEING THE NORTHWEST CORNER OF SAID EASEMENT, SAME BEING IN A NON-TANGENT CURVE TO THE RIGHT HAVING A RADIUS OF 365.00 FEET, AND A DELTA ANGLE OF 05 DEGREES 37 MINUTES 30 SECONDS, SAME BEING IN THE EAST
RIGHT OF-WAY LINE OF SAID WEST N’ WILD WAY. 
  

 THENCE IN A NORTHWESTERLY DIRECTION, ALONG SAID EAST RIGHT-OF-WAY LINE, THE WEST LINE OF SAID 2.54 ACRE TRACT,
THE WEST LINE OF SAID LOT 17, AND ALONG SAID CURVE TO THE RIGHT, AN ARC DISTANCE OF 35.83 FEET, AND A CHORD BEARING AND DISTANCE OF NORTH 51 DEGREES 08 MINUTES 33 SECONDS WEST, 35.82 FEET TO A CUT “X” IN CONCRETE SET FOR COMER, SAID POINT
BEING ON ANGLE POINT IN THE WEST LINE OF SAID LOT 17, AND SAID 2.54 ACRE TRACT; 
 THENCE NORTH 26 DEGREES 07 MINUTES 17 SECONDS WEST, ALONG THE COMMON WEST
LINE OF SAID LOT 17 AND SAID 2.54 ACRE TRACT, AND SAID EAST RIGHT-OF-WAY LINE, A DISTANCE OF 194.56 FEET TO A 3/8 INCH IRON ROD FOUND FOR COMER, SAID POINT BEING ON ANGLE POINT IN THE WEST LINE OF SAID LOT 17, AND SAID 2.54 ACRE TRACT; 

THENCE NORTH 00 DEGREES 20 MINUTES 42 SECONDS WEST, ALONG THE COMMON WEST LINE OF SAID LOT 17, AND SAID EAST RIGHT-OF-WAY LINE, A DISTANCE OF 294.94 FEET TO
THE POINT OF BEGINNING AND CONTAINING 110.719 SQUARE FEET OR 2.54 ACRES OF COMPUTED LAND. 
 SAVE AND EXCEPT: 

BEING A 891 SQUARE FEET ACRE TRACT OF LAND, MORE OR LESS, SITUATED IN THE COUNTY OF TARRANT STATE OF TEXAS, BEING OUT OF THE WILLIAM O’NEAL SURVEY,
ABSTRACT NO. 1190, TARRANT COUNTY, TEXAS, BEING OUT OF THE WILLIAM O’NEAI ADDITION, AS RECORDED IN VOLUME 388-190, PAGE 90, PLAT RECORDS, TARRANT COUNTY, TEXAS, BEING A PORTION OF LOT 17 AS CONVEYED BY ARLINGTON ACCOMMODATION L.P. TO JAY SEHGAL
AND RITA SEHGAL TRUSTEES OF THE SEHGAL REVOCABLE LIVING TRUST BY DEED DATED JANUARY 31, 2005 AND RECORDED IN CLERKS RECORDS D205028887, DEED RECORDS, TARRANT COUNTY, TEXAS, WHICH 0.020 ACRE TRACT OF LAND, MORE OR LESS, IS MORE PARTICULARLY DESCRIBED
AS FOLLOWS: 
 BEGINNING AT A 1/2 INCH IRON ROD FOR CORNER SAID POINT BEING THE SOUTHEAST CORNER OF SAID LOT 17 AND BEING THE SOUTHWEST CORNER OF LOT 20 OF
THE ERNESTO ROIS-MENDEZ TRACT, A RECORDED IN CLERKS RECORDS D205135730, DEED RECORDS, TARRANT COUNTY, TEXAS, ALSO BEING IN THE EXISTING NORTH RIGHT-OF-WAY LINE OF I.H. 30 (A VARIABLE WIDTH R.O.W.), SAID BEGINNING POINT ALSO BEING 239.79 FEET NORTH
OF AND AT RIGHT ANGLES TO PROPOSED CENTERLINE SURVEY STATION 708+54.70 OF I.H. 30 (A VARIABLE WIDTH R.O.W.); 
 THENCE SOUTH 89 DEGREES 50 MINUTES 37
SECONDS WEST, ALONG SAID NORTH RIGHT-OF-WAY LINE, FOR A DISTANCE OF 0.29 FEET TO A POINT FOR CORNER; 
 THENCE NORTH 75 DEGREES 16 MINUTES 36 SECONDS WEST,
CONTINUING ALONG SAID NORTH RIGHT-OF-WAY LINE, FOR A DISTANCE OF 83.34 FEET TO A SET TXDOT TYPE II ROW MONUMENT FOR CORNER; 
 THENCE NORTH 89 DEGREES 25
MINUTES 02 SECONDS EAST, LEAVING SAID NORTH RIGHT-OF-WAY LINE, FOR A DISTANCE OF 80.70 FEET TO A SET TXDOT 5/8 INCH IRON ROD FOR CORNER; 
 THENCE SOUTH 00
DEGREES 31 MINUTES 06 SECONDS EAST, FOR A DISTANCE OF 22.00 FEET TO THE POINT OF BEGINNING. 

 EXHIBIT B 

ALLOCATION OF PURCHASE PRICE 
  

									
	 Facility
	  	Purchase Price Allocation for
Real Estate and Improvements	 	  	Purchase Price Allocation for
Intangible Property	 
	 Desert Hope Facility
	  	$	2,999,900.00	 	  	$	100.00	 
	 Resolutions LV Facility
	  	$	9,499,900.00	 	  	$	100.00	 
	 Greenhouse Facility
	  	$	2,999,900.00	 	  	$	100.00	 
	 Resolutions Arlington Facility
	  	$	9,499,900.00	 	  	$	100.00	 

 EXHIBIT C-1 

FORM OF TEXAS DEED 
  

					
	STATE OF TEXAS	  	§	  	SPECIAL WARRANTY DEED
		  	§	  	
		  	§	  	
	COUNTY OF ________	  	§	  	

 NOTICE OF CONFIDENTIALITY RIGHTS: IF YOU ARE A NATURAL PERSON, YOU MAY REMOVE OR STRIKE ANY OR ALL OF THE FOLLOWING
INFORMATION FROM THIS INSTRUMENT BEFORE IT IS FILED FOR RECORD IN THE PUBLIC RECORDS: YOUR SOCIAL SECURITY NUMBER OR YOUR DRIVER’S LICENSE NUMBER. 
  

			
	DATE:	  	             
        , 2017

		
	GRANTOR:	  	 BHR GREENHOUSE REAL ESTATE, LLC, a Texas limited liability company, successor by name change to Greenhouse Real
Estate, LLC, a Texas limited liability company

		
	GRANTEE:	  	 MRT OF TEXAS – ATF, LLC, A DELAWARE
LIMITED LIABILITY COMPANY

		
	GRANTEE’S ADDRESS:	  	 c/o MedEquities Realty Trust, Inc.

		  	 3100 West End Avenue, Suite 1000

		  	 Nashville, TN 37203

		  	 Attn: William C. Harlan, President

		
	CONSIDERATION:	  	TEN DOLLARS ($10.00) cash and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged by Grantor.

 REAL PROPERTY: 

(INCLUDING ANY IMPROVEMENTS, IF ANY) [THE
“PROPERTY” HEREIN]: 
 See Exhibit “A” 

RESERVATIONS FROM & EXCEPTIONS TO CONVEYANCE &
WARRANTY: 
 The following matters to the extent they validly exist and affect the Property, and all terms, conditions
and purposes of the documents creating or offering evidence of such matters, including all rights pertinent thereto, which are incorporated and referenced herein for all purposes: 

 See Exhibit “B” 

CONVEYANCE: 
 Grantor, for the
consideration and subject to the reservations from and exceptions to conveyance and warranty, GRANTS, SELLS, and CONVEYS to Grantee the Property, together with all and singular the rights and appurtenances thereto in any way belonging, to have and
hold it to Grantee, Grantee’s heirs, executors, administrators, successors, or assigns forever. Grantor binds Grantor and Grantor’s heirs, executors, administrators, successors, and assigns to WARRANT AND FOREVER DEFEND all and singular
the Property to Grantee and Grantee’s heirs, executors, administrators, successors, and assigns, against every person whomsoever lawfully claiming or to claim the same, or any part thereof, by, through or under Grantor, but not otherwise,
subject to the reservations from and exceptions to conveyance and warranty. 
 EXECUTED this
             day of             , 2017 

GRANTOR: 
 BHR
GREENHOUSE REAL ESTATE, LLC 
 a Texas limited liability company 
  

			
		
	By:	 	 
		 	Kirk Manz, Chief Financial Officer

 ACKNOWLEDGEMENT 

 

			
	State of Tennessee	  	)
		  	) ss.:
	County of             	  	)

 On the              day of
            in the year 2017 before me, the undersigned, personally appeared Kirk Manz, personally known to me or proved to me on the basis of satisfactory evidence to be the individual
whose name is subscribed to the within instrument and acknowledged to me that he executed the same in his capacity, and that by his signature on the instrument, the individual, or the person upon behalf of which the individual acted, executed the
instrument. 
  

	
	  

	Notary Public
	My Commission expires:                                 

 Exhibit “A” to Texas Deed (Greenhouse) 

Site 8, Block 1, a Revised Final Plat of portion of Block 1 out of Section 2, Second Revision Brookhollow/Arlington, Tarrant County, Texas, according to
the plat recorded in Volume 388-122, page 11, Plat Records, Tarrant County, Texas. 

 Exhibit “A” to Texas Deed (Resolutions Arlington) 

TRACT 1: (Fee Simple) 
 BEING LOT 17 OF WILLIAM
O’NEAL ADDITION, AN ADDITION TO THE CITY OF ARLINGTON, TARRANT COUNTY, TEXAS, ACCORDING TO THE MAP THEREOF RECORDED IN VOLUME 388-190, PAGE 90, OF THE PLAT RECORDS OF TARRANT COUNTY, TEXAS. 

SAVE AND EXCEPT: 
 SMALL TRIANGULAR TRACT AT SOUTHWESTERLY CORNER
OF LOT 17 THAT IS SHOWN ON PLAT 388-190/90 AS RIGHT-OF-WAY DEDICATION TO THE CITY OF ARLINGTON. 
 SAVE AND EXCEPT: 

BEING A 2.54 ACRE TRACT OF LAND SITUATED IN THE WILLIAM O’NEAL, ABSTRACT NO. 1190, TARRANT COUNTY, TEXAS, SAME BEING A PORTION OF LOT 17, WILLIAM
O’NEAL ADDITION, AN ADDITION TO THE CITY OF ARLINGTON, TARRANT COUNTY, TEXAS, ACCORDING TO THE PLAT THEREOF RECORDED IN VOLUME 388-190, PAGE 90, OF THE PLAT RECORDS OF TARRANT COUNTY, TEXAS, SAME BEING A PORTION OF THAT CERTAIN TRACT OF LAND
CONVEYED TO JIM SEHGAL & RITA SEHGAL, TRUSTEES OF THE SEHGAL REVOCABLE LIVING TRUST, BY DEED RECORDED IN INSTRUMENT NO. D205028887, OF THE DEED RECORDS OF TARRANT COUNTY, TEXAS, AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: 

BEGINNING AT A 1 INCH IRON ROD FOUND FOR CORNER, SAID POINT BEING THE NORTHWEST CORNER OF SAID LOT 17, SAME BEING THE NORTHWEST CORNER OF SAID 2.54 ACRE
TRACT, SAME BEING THE SOUTHWEST CORNER OF LOT 1-B-R, BLOCK 2, OF WALNUT ADDITION, AN ADDITION TO THE CITY OF ARLINGTON, TARRANT COUNTY, TEXAS, ACCORDING TO THE PLAT THEREOF RECORDED IN VOLUME 388-98, PAGE 65, OF SAID PLAT RECORDS, SAME BEING IN THE
EAST RIGHT-OF-WAY LINE OF WEST N’ WILD WAY (A VARIABLE WIDTH RIGHT-OF-WAY); 
 THENCE SOUTH 89 DEGREES 25 MINUTES 42 SECONDS EAST, ALONG THE COMMON
NORTH LINE OF SAID LOT 17, THE NORTH LINE OF SAID 2.54 ACRE TRACT, AND THE SOUTH LINE OF SAID A LOT 1-B R, A DISTANCE OF 246.50 FEET TO A POINT FOR CORNER, SAID POINT BEING THE NORTHEAST CORNER OF SAID LOT 17, SAME BEING THE NORTHEAST CORNER OF SAID
2.54 ACRE TRACT, SAME BEING THE NORTHWEST CORNER OF LOT 20, OF WILLIAM O’NEAL ADDITION, AN ADDITION TO THE CITY OF ARLINGTON, TARRANT COUNTY, TEXAS, ACCORDING TO THE PLAT THEREOF RECORDED IN CABINET A, SLIDE 381, OF SAID PLAT RECORDS; 

THENCE SOUTH 00 DEGREES 01 MINUTE 12 SECONDS WEST, ALONG THE COMMON EAST LINE OF SAID LOT 17, THE EAST LINE OF SAID 2.54 ACRE TRACT, AND THE WEST LINE OF SAID
LOT 20, A DISTANCE OF 490.16 FEET TO A POINT FOR CORNER, SAID POINT BEING THE NORTHEAST CORNER OF A 2,253 SQUARE FOOT TRACT OF LAND DESCRIBED IN WATER SANITARY SEWER EASEMENT EXHIBIT BY GRAHAM ASSOCIATES, INC., PROJECT NO. 874-2423, DATED OCTOBER
2006, APPROVED BY CHARLES F. STARK, STATE OF TEXAS R.P.L.S. NO. 5084, SAME BEING THE SOUTHEAST CORNER OF SAID 2.54 ACRE TRACT; 
 THENCE NORTH 89 DEGREES 25
MINUTES 02 SECONDS WEST, ALONG THE COMMON SOUTH LINE OF SAID 2.54 ACRE TRACT, AND THE NORTH LINE OF SAID EASEMENT, SAME BEING THROUGH THE INTERIOR OF SAID LOT 17, A DISTANCE OF 131.50 FEET TO A POINT

 
FOR CORNER, SAID POINT BEING THE MOST SOUTHERLY SOUTHWEST CORNER OF SAID 2.54 ACRE TRACT, SAME BEING THE NORTHWEST CORNER OF SAID EASEMENT, SAME BEING IN A NON-TANGENT CURVE TO THE RIGHT HAVING A
RADIUS OF 365.00 FEET, AND A DELTA ANGLE OF 05 DEGREES 37 MINUTES 30 SECONDS, SAME BEING IN THE EAST RIGHT OF-WAY LINE OF SAID WEST N’ WILD WAY. 

THENCE IN A NORTHWESTERLY DIRECTION, ALONG SAID EAST RIGHT-OF-WAY LINE, THE WEST LINE OF SAID 2.54 ACRE TRACT, THE WEST LINE OF SAID LOT 17, AND ALONG SAID
CURVE TO THE RIGHT, AN ARC DISTANCE OF 35.83 FEET, AND A CHORD BEARING AND DISTANCE OF NORTH 51 DEGREES 08 MINUTES 33 SECONDS WEST, 35.82 FEET TO A CUT “X” IN CONCRETE SET FOR CORNER, SAID POINT BEING ON ANGLE POINT IN THE WEST LINE OF
SAID LOT 17, AND SAID 2.54 ACRE TRACT; 
 THENCE NORTH 26 DEGREES 07 MINUTES 17 SECONDS WEST, ALONG THE COMMON WEST LINE OF SAID LOT 17 AND SAID 2.54 ACRE
TRACT, AND SAID EAST RIGHT-OF-WAY LINE, A DISTANCE OF 194.56 FEET TO A 3/8 INCH IRON ROD FOUND FOR CORNER, SAID POINT BEING ON ANGLE POINT IN THE WEST LINE OF SAID LOT 17, AND SAID 2.54 ACRE TRACT; 

THENCE NORTH 00 DEGREES 20 MINUTES 42 SECONDS WEST, ALONG THE COMMON WEST LINE OF SAID LOT 17, AND SAID EAST RIGHT-OF-WAY LINE, A DISTANCE OF 294.94 FEET TO
THE POINT OF BEGINNING AND CONTAINING 110.719 SQUARE FEET OR 2.54 ACRES OF COMPUTED LAND. 
 SAVE AND EXCEPT: 

BEING A 891 SQUARE FEET ACRE TRACT OF LAND, MORE OR LESS, SITUATED IN THE COUNTY OF TARRANT STATE OF TEXAS, BEING OUT OF THE WILLIAM O’NEAL SURVEY,
ABSTRACT NO. 1190, TARRANT COUNTY, TEXAS, BEING OUT OF THE WILLIAM O’NEAL ADDITION, AS RECORDED IN VOLUME 388-190, PAGE 90, PLAT RECORDS, TARRANT COUNTY, TEXAS, BEING A PORTION OF LOT 17 AS CONVEYED BY ARLINGTON ACCOMMODATION L.P. TO JAY SEHGAL
AND RITA SEHGAL TRUSTEES OF THE SEHGAL REVOCABLE LIVING TRUST BY DEED DATED JANUARY 31, 2005 AND RECORDED IN CLERKS RECORDS D205028887, DEED RECORDS, TARRANT COUNTY, TEXAS, WHICH 0.020 ACRE TRACT OF LAND, MORE OR LESS, IS MORE PARTICULARLY DESCRIBED
AS FOLLOWS: 
 BEGINNING AT A  1⁄2 INCH IRON ROD FOR CORNER SAID
POINT BEING THE SOUTHEAST CORNER OF SAID LOT 17 AND BEING THE SOUTHWEST CORNER OF LOT 20 OF THE ERNESTO ROIS-MENDEZ TRACT, A RECORDED IN CLERKS RECORDS D205135730, DEED RECORDS, TARRANT COUNTY, TEXAS, ALSO BEING IN THE EXISTING NORTH RIGHT-OF-WAY
LINE OF I.H. 30 (A VARIABLE WIDTH R.O.W.), SAID BEGINNING POINT ALSO BEING 239.79 FEET NORTH OF AND AT RIGHT ANGLES TO PROPOSED CENTERLINE SURVEY STATION 708+54.70 OF I.H. 30 (A VARIABLE WIDTH R.O.W.); 

THENCE SOUTH 89 DEGREES 50 MINUTES 37 SECONDS WEST, ALONG SAID NORTH RIGHT-OF-WAY LINE, FOR A DISTANCE OF 0.29 FEET TO A POINT FOR CORNER; 

THENCE NORTH 75 DEGREES 16 MINUTES 36 SECONDS WEST, CONTINUING ALONG SAID NORTH RIGHT-OF-WAY LINE, FOR A DISTANCE OF 83.34 FEET TO A SET TXDOT TYPE II ROW
MONUMENT FOR CORNER; 

 THENCE NORTH 89 DEGREES 25 MINUTES 02 SECONDS EAST, LEAVING SAID NORTH RIGHT-OF-WAY LINE, FOR A DISTANCE OF 80.70
FEET TO A SET TXDOT 5/8 INCH IRON ROD FOR CORNER; 
 THENCE SOUTH 00 DEGREES 31 MINUTES 06 SECONDS EAST, FOR A DISTANCE OF 22.00 FEET TO THE POINT OF
BEGINNING. 
 TRACT 2: (Fee Simple) 
 BEING a 2.54 acre
tract of land situated in the WILLIAM O’NEAL, ABSTRACT NO. 1190, Tarrant County, Texas, same being a portion of Lot 17, William O’Neal Addition, an Addition to the City of Arlington, Tarrant County, Texas, according to the plat thereof
recorded in Volume 388-190, Page 90, of the Plat Records of Tarrant County, Texas, same being a portion of that certain tract of land conveyed to Jim Sehgal & Rita Sehgal, Trustees of the Sehgal Revocable Living Trust, by Deed recorded in
Instrument No. D205028887, of the Deed Records of Tarrant County, Texas, and being more particularly described as follows: 
 BEGINNING at a 1 inch iron rod
found for corner, said point being the Northwest corner of said Lot 17, same being the Northwest corner of said 2.54 acre tract, same being the Southwest corner of Lot 1-B-R, Block 2, of Walnut Addition, an addition to the City of Arlington, Tarrant
County, Texas, according to the plat thereof recorded in Volume 388-98, Page 65, of said Plat Records, same being in the East right-of-way line of West N’ Wild Way (a variable width right-of-way); 

THENCE South 89 degrees 25 minutes 42 seconds East, along the common North line of said Lot 17, the North line of said 2.54 acre tract, and the South line of
said a Lot 1-B-R, a distance of 246.50 feet to a point for corner, said point being the Northeast corner of said Lot 17, same being the Northeast corner of said 2.54 acre tract, same being the Northwest corner of Lot 20, of William O’Neal
Addition, an addition to the City of Arlington, Tarrant County, Texas, according to the plat thereof recorded in Cabinet A, Slide 381, of said Plat Records; 

THENCE South 00 degrees 01 minute 12 seconds West, along the common East line of said Lot 17, the East line of said 2.54 acre tract, and the West line of said
Lot 20, a distance of 490.16 feet to a point for corner, said point being the Northeast corner of a 2,253 square foot tract of land described in Water Sanitary Sewer Easement Exhibit by Graham Associates, Inc. Project No. 874-2423, dated
October 2006, approved by Charles F. Stark, State of Texas R.P.L.S. No. 5084, same being the Southeast corner of said 2.54 acre tract; 
 THENCE North
89 degrees 25 minutes 02 seconds West, along the common South line of said 2.54 acre tract, and the North line of said easement, same being through the interior of said Lot 17, a distance of 131.50 feet to a point for corner, said point being the
most southerly Southwest corner of said 2.54 acre tract, same being the northwest corner of said easement, same being in a non-tangent curve to the right having a radius of 365.00 feet, and a delta angle of 05 degrees 37 minutes 30 seconds, same
being in the East right-of-way line of said West N’ Wild Way; 
 THENCE in a northwesterly direction, along said East right-of-way line, the West line
of said 2.54 acre tract, the West line of said Lot 17, and along said curve to the right, an arc distance of 35.83 feet, and a chord bearing and distance of North 51 degrees 08 minutes 33 seconds West, 35.82 feet to a cut “X” in concrete
set for corner, said point being on angle point in the West line of said Lot 17, and said 2.54 acre tract; 

 THENCE North 26 degrees 07 minutes 17 seconds West, along the common West line of said Lot 17 and said 2.54 acre
tract, and said East right-of-way line, a distance of 194.56 feet to a 3/8 inch iron rod found for corner, said point being on angle point in the West line of said Lot 17, and said 2.54 acre tract; 

THENCE North 00 degrees 20 minutes 42 seconds West, along the common West line of said Lot 17, and said East right-of-way line, a distance of 294.94 feet to
the POINT OF BEGINNING and containing 110.719 square feet or 2.54 acres of computed land. 

 Exhibit “B” to Texas Deed (Greenhouse) 

 

	1.	Real Estate taxes for 2017 and subsequent years. 

  

	2.	All leases, grants, exceptions or reservations of coal, lignite, oil, gas and other minerals, together with all rights, privileges and immunities relating thereto. 

 

	3.	Terms and conditions of Ordinance No. 71-100, entitled Airport Zoning Ordinance of the Dallas-Fort Worth Regional Airport, filed 09/01/1982, recorded in Volume 7349, Page 1106, Real Property Records, Tarrant
County, Texas. 

  

	4.	Easement granted by Brookhollow/Arlington, Inc., to Texas Electric Service Company, filed 01/21/1975, recorded in Volume 5766, Page 103, Real Property Records, Tarrant County, Texas. 

 

	5.	Easement granted by Pharm Assist, a division of Synergex Corp., to Texas Electric Service Company, filed 01/28/1980, recorded in Volume 6879, Page 1203, Real Property Records, Tarrant County, Texas. 

 

	6.	5’ easement as reserved in General Warranty Deed from Brookhollow/Arlington, Inc., to Pharm- Assist, a division of Synergex Corp., filed 09/13/1979, recorded in Volume 6806, Page 280, Real Property Records, Tarrant
County, Texas. 

  

	7.	Mineral estate and interest in coal, lignite oil, gas and other minerals together with all rights, privileges and immunities thereto described in instrument filed 09/13/1979, recorded in Volume 6806, Page 280, Real
Property Records, Tarrant County, Texas. Company makes no representation as to the present ownership of any such interests. 

  

	8.	Mineral lease, together with all rights, privileges and immunities incident thereto, to Newark Energy, LLC, from Brookhollow Corporation, as evidenced by Memorandum of Oil and Gas Lease, filed 03/14/2011, recorded cc#
D211059821, Real Property Records, Tarrant County, Texas. As affected by First Amendment filed 05/31/2012, recorded cc# D212130098, Real Property Records, Tarrant County, Texas. As affected by Second Amendment filed 08/12/2014, recorded in cc#
D21473390, Real Property Records, Tarrant County, Texas. 

  

	9.	The following easements and/or building lines, as shown on plat recorded in Volume 388-122, Page 11, Plat Records, Tarrant County, Texas: 

10’ utility easement; 

5’ utility easement; 

visibility triangle; 

40’ building setback line; 

32’ building setback line. 

 Exhibit “B” to Texas Deed (Resolutions Arlington) 

 

	1.	Real Estate taxes for 2017 and subsequent years. 

  

	2.	Terms, provisions, and conditions contained in Mutual Covenant to Maintain Private Water Lines, dated January 05, 1985, filed January 13, 1986, recorded in Volume 8426, Page 1247, Real Property Records,
Tarrant County, Texas. 

  

	3.	The following easements and/or building lines, as shown on plat recorded in Volume 388-190, Page 90, Map Records, Tarrant County, Texas: 

10’ building line along the West, Southwest and South lot lines. 

 

	4.	Certificate of Assessment, executed by Arlington Entertainment Area Management District, dated March 26, 2009, filed March 31, 2009, recorded in County Clerk’s File No. D209084221, Real Property Records,
Tarrant County, Texas. 

  

	5.	Inclusion within The Arlington Entertainment Area Management District. 

  

	6.	Subject property abuts a non-access or a limited-access road, highway or freeway. 

  

	7.	All leases, grants, exceptions or reservations of coal, lignite, oil, gas and other minerals, together with all rights, privileges, and immunities relating thereto. 

 

	8.	Easement granted by Lexington-Arlington Partnership to Texas Utilities Electric Company, dated 11/26/1985, filed 01/03/1986, recorded in Volume 8416, Page 2193, Real Property Records, Tarrant County, Texas. (Affects
Tract II only) 

  

	9.	50’ easement across the Northern portion of subject property as evidenced by instruments filed 05/24/1973, recorded in Volume 5456, Page 736, and filed 03/17/1983, recorded in Volume 7467, Page 1417, Real Property
Records, Tarrant County, Texas. (Affects Tract II only) 

 EXHIBIT C-2 

FORM OF NEVADA DEED 
  

			
	APN:	    	162-14-512-036 (Desert Hope)
		    	162-14-512-010 (Desert Hope)
		    	139-27-603-030 (Resolutions Las Vegas)
		
	File No.:	    	                    
	R.P.T.T.:	    	$                  

 Mail tax bill to and 
 when
recorded mail to: 
 MedEquities Realty Trust, Inc. 
 3100 West
End Avenue, Suite 1000 
 Nashville, TN 37203 
 Attn: William C.
Harlan, President 
 GRANT, BARGAIN AND SALE DEED 

FOR VALUABLE CONSIDERATION, the receipt of which his hereby acknowledged, CONCORDE REAL ESTATE, LLC, a Nevada limited liability
company, does hereby grant, bargain, sell and convey to MRT of Nevada – ATF, LLC, a Delaware limited liability company, all that real property situated in the County of Clark, State of Nevada, bounded and described as follows: 

SEE LEGAL DESCRIPTION ATTACHED HERETO 

AS EXHIBIT “A” AND MADE A PART HEREOF 

SUBJECT TO: 
  

	 	1.	All general and special taxes for the current fiscal year; and 

  

	 	2.	Those conditions, covenants, restrictions, reservations, rights, rights of way and easements more particularly described in EXHIBIT B attached hereto and incorporated herein. 

TOGETHER WITH all tenements, hereditaments and appurtenances, including easements and water rights, if any, thereto belonging or appertaining, and any
reversions, remainders, rents, issues or profits thereof. 

 IN WITNESS WHEREOF, this instrument has been executed this          day
of             , 2017. 
 CONCORDE REAL ESTATE, LLC 

a Nevada limited liability company 
  

			
	
		
	By:	 	 
		 	Kirk Manz, Chief Financial Officer

  

			
	State of Tennessee	  	)
		  	) ss.:
	County of             	  	)

 On the          day of
            in the year 2017 before me, the undersigned, personally appeared Kirk Manz, personally known to me or proved to me on the basis of satisfactory evidence to be the individual
whose name is subscribed to the within instrument and acknowledged to me that he executed the same in his capacity, and that by his signature on the instrument, the individual, or the person upon behalf of which the individual acted, executed the
instrument. 
  

	
	  

	Notary Public
	My Commission expires:                                 

 EXHIBIT “A” to Nevada Deed (Desert Hope) 

PARCEL I: 
 LOT THIRTY-SEVEN (37) IN BLOCK TEN
(10) OF PARADISE PALMS SUBDIVISION UNIT NO. 7, AS SHOWN BY MAP THEREOF ON FILE IN BOOK 6 OF PLATS, PAGE 86, IN THE OFFICE OF THE COUNTY RECORDER OF CLARK COUNTY, NEVADA. 

PARCEL II: 
 LOT THIRTY-EIGHT (38) AND THE NORTH HALF
(N  1⁄2) OF LOT THIRTY-NINE (39) IN BLOCK TEN (10) OF PARADISE PALMS SUBDIVISION UNIT NO. 7 AS SHOWN BY MAP THEREOF ON FILE IN BOOK 6 OF PLATS, PAGE
86, IN THE OFFICE OF THE COUNTY RECORDER OF CLARK COUNTY, NEVADA. 

 EXHIBIT “A” to Nevada Deed (Resolutions Las Vegas) 

The land referred to in this Commitment is situated in the City of Las Vegas, County of Clark, State of Nevada, and is described as follows: 

A PORTION OF THE SOUTH HALF (S 1/2) OF THE NORTHEAST QUARTER (NE 1/4) OF SECTION 27, TOWNSHIP 20 SOUTH, RANGE 61 EAST, M.D.B.&M., CLARK COUNTY, NEVADA,
BEING DESCRIBED AS FOLLOWS: 
 LOT 1 AS SHOWN BY MAP THEREOF IN FILE 121 OF PARCEL MAPS, PAGE 87 IN THE OFFICE OF THE COUNTY RECORDER, CLARK COUNTY, NEVADA

 EXHIBIT “B” to Nevada Deed (Desert Hope) 

 

	1.	Real estate taxes and assessments for the fiscal year July 1, 2017 through June 30, 2018 

  

	2.	All applicable laws, statutes, ordinances, rules, regulations, including without limitation, all zoning laws; 

  

	3.	Water rights, claims or title to water, whether or not shown by the public records. 

  

	4.	Reservations and provisions as contained in the Patent from the State of Nevada, recorded April 16, 1929, in Book 14 of Deeds, Page 278, as Instrument No. 31304. (Affects all parcels) 

 

	5.	Easements as shown and/or dedicated upon the final map of Paradise Palms Unit 7, on file in Book 6 of plats, Page 86 , of Official Records. 

 

	6.	Covenants, conditions, restrictions, easements, assessments, liens, charges, terms and provisions in the document recorded February 19, 1962 in Book 343 as Instrument No. 277456 of Official Records.

  

	7.	Document(s) declaring modifications thereof recorded April 16, 1962 in Book 354 as Instrument No. 285819 of Official Records. (Affects all parcels) 

 

	8.	Covenants, conditions, restrictions, easements, assessments, liens, charges, terms and provisions in the document recorded April 26, 1963 in Book 440 as Instrument No. 355093 of Official Records.

  

	9.	Document(s) declaring modifications thereof recorded May 14, 1963 in Book 444 as Instrument No. 358359 of Official Records. 

 

	10.	Document(s) declaring modifications thereof recorded February 19, 1970 in Book 12 as Instrument No. 9185 of Official Records. (Affects all parcels) 

 

	11.	Map purporting to show the land and other property, filed in File 79, Page 98 of Record of Surveys. (Affects Parcel II) 

  

	12.	Covenants, conditions, and restrictions in a Quitclaim Deed recorded May 10, 2000, in Book 20000510 as Instrument No. 00538 of Official Records. (Affects Parcel I) 

 

	13.	Covenants, conditions, and restrictions in a Quitclaim Deed recorded May 10, 2000, in Book 20000510 as Instrument No. 00539 of Official Records. (Affects Parcel II) 

 

	14.	Easement for Owner’s Certificate and Grant of Easement and incidental purposes in the document recorded May 10, 2000 in Book 20000510 as Instrument No. 00540 of Official Records. (Affects all parcels)

	15.	Easement for Owner’s Certificate and Grant of Easement and incidental purposes in the document recorded May 10, 2000 in Book 20000510 as Instrument No. 00548 of Official Records. (Affects all parcels)

  

	16.	Pedestrian Access Agreement recorded June 9, 2000 in Book 20000609 as Instrument No. 00850 of Official Records. (Affects all parcels) 

 

	17.	Easement and right-of-way for the construction, operation, maintenance, repair, renewal, reconstruction, and removal of pipelines for conducting water with the right of ingress and egress, as conveyed to Las Vegas
Valley Water District, a quasi-municipal corporation, by an instrument recorded August 10, 2000, in Book 20000810 as Instrument No. 01027 of Official Records, over a portion of the land. (Affects Parcel I) 

 

	18.	Easement for public utilities and incidental purposes in the document recorded August 25, 2000 in Book 20000825 as Instrument No. 01598 of Official Records. (Affects Parcel II) 

 

	19.	Matters disclosed by an ALTA/NSPS survey made by Commercial Due Diligence Services on June 19, 2017, designated Job No. 17-05-0047. 

 EXHIBIT “B” to Nevada Deed (Resolutions Las Vegas) 

 

	1.	Real estate taxes and assessments for the fiscal year July 1, 2017 through June 30, 2018 

  

	2.	All applicable laws, statutes, ordinances, rules, regulations, including without limitation, all zoning laws; 

  

	3.	Water rights, claims or title to water, whether or not shown by the public records. 

  

	4.	Reservations and provisions as contained in the Patent from the State of Nevada, recorded November 30, 1902, in Book 3F, Page 265 of Miscellaneous Records. 

 

	5.	Reservations and provisions as contained in the Patent from the State of Nevada, recorded May 26, 1927, in Book 12 of Deeds, Page 270, as Instrument No. 26206 of Official Records. 

 

	6.	Easement for public utilities and incidental purposes in the document recorded April 01, 1955 in Book 48 as Instrument No. 41751 of Official Records. 

 

	7.	Easements as shown and/or dedicated upon the parcel map, recorded in File 37, Page 92 of Parcel Maps. 

  

	8.	Easement for public utilities and incidental purposes in the document recorded January 08, 1986 in Book 860108 as Instrument No. 00553 of Official Records. 

 

	9.	Easement and right-of-way for the construction, operation, maintenance, repair, renewal, reconstruction, and removal of pipelines for conducting water with the right of ingress and egress, as conveyed to Las Vegas
Valley Water District, a quasi-municipal corporation, by an instrument recorded October 03, 1988, in Book 881003 as Instrument No. 00517 of Official Records, over a portion of the land. 

 

	10.	Easement for public utilities and incidental purposes in the document recorded October 12, 2016 in Book 20161012 as Instrument No. 02210 of Official Records. 

 

	11.	Covenants, conditions, and restrictions in a City of Las Vegas Notice of Zoning Action recorded November 21, 2016, in Book 20161121 as Instrument No. 00552 of Official Records. 

 

	12.	Provisions, recited on the Dedication Statement on the parcel map recorded December 22, 2016 in Book 20161222 as Instrument No. 02769 of Official Records, in File 121, Page 87 of Parcel Maps.

  

	13.	Easements as shown and/or dedicated upon the parcel map, recorded in File 121, Page 87 of Parcel Maps. 

	14.	Terms and provisions contained in the document entitled “Right-of-Way Landscaping Encroachment License Agreement” recorded April 18, 2017 in Book 20170418 as Instrument No. 01494 of Official Records.

  

	15.	Easement and right-of-way for the construction, operation, maintenance, repair, renewal, reconstruction, and removal of pipelines for conducting water with the right of ingress and egress, as conveyed to Las Vegas
Valley Water District, a quasi-municipal corporation, by an instrument recorded May 10, 2017, in Book 20170510 as Instrument No. 01291 of Official Records, over a portion of the land. 

 

	16.	Matters disclosed by an ALTA/NSPS survey made by Commercial Due Diligence Services on June 20, 2017, designated Job No. 17-05-0047:001. 

 EXHIBIT D 

BLANKET CONVEYANCE, BILL OF SALE AND ASSIGNMENT 
  

					
	THE STATE OF TENNESSEE	  	§	  	
		  	§	  	KNOW ALL MEN BY THESE PRESENTS:
	COUNTY OF ROBERTSON	  	§	  	

 That concurrently with the execution and delivery hereof, Concorde Real Estate, LLC, a Nevada limited
liability company (“Concorde”), and BHR Greenhouse Real Estate, LLC, a Texas limited liability company (“Greenhouse”, together with Concorde, the “Assignor”), is conveying to MRT of Nevada - ATF,
LLC, a Delaware limited liability company (“MRT Nevada”) and MRT of Texas—ATF, LLC, a Delaware limited liability company (“MRT Texas”; together with MRT Nevada, the “Assignee”), by Deed (the
“Deed”), those certain tracts of land more particularly described on Exhibit A attached hereto and made a part hereof for all purposes (the “Property”). Unless otherwise defined herein, all initially
capitalized terms shall have the respective meanings ascribed to such terms in that certain Purchase and Sale Agreement, dated July 31, 2017 (the “Purchase Agreement”), by and between Assignor and Assignee (as successor by
assignment from MedEquities Realty Operating Partnership, LP, a Delaware limited partnership) with respect to the conveyance of the Property. 

Assignor hereby assigns, transfers and conveys to Assignee all Improvements and Intangible Property (collectively, the “Assigned
Properties”). 
 NOW, THEREFORE, in consideration of the receipt of Ten and No/100 Dollars ($10.00) and other good and valuable
consideration, in hand paid by Assignee to Assignor, the receipt and sufficiency of which are hereby acknowledged and confessed by Assignor, Assignor does hereby BARGAIN, ASSIGN, TRANSFER, SET OVER, CONVEY and DELIVER to Assignee, its successors,
legal representatives and assigns, all of the Assigned Properties, with the express intention that all of the Assigned Property associated with the Desert Hope Facility and the Resolutions LV Facility are conveyed to MRT Nevada and all of the
Assigned Property associated with the Greenhouse Facility and the Resolutions Arlington Facility are conveyed to MRT Texas. 
 TO HAVE AND
TO HOLD the Assigned Properties, together with any and all rights and appurtenance thereto in anywise belonging to Assignor unto Assignee, its successors and assigns FOREVER, and Assignor does hereby bind itself and its successors to WARRANT AND
FOREVER DEFEND all and singular Assigned Properties unto Assignee, its successors and assigns, against every person lawfully claiming or to claim the same or any part thereof by, through or under Assignor, but not otherwise (it being the with the
express intention that all of the Assigned Property associated with the Desert Hope Facility and the Resolutions LV Facility are conveyed to MRT Nevada and all of the Assigned Property associated with the Greenhouse Facility and the Resolutions
Arlington Facility are conveyed to MRT Texas). 
 Assignor indemnifies Assignee from any claims applicable to the Assigned Properties with
respect to the period prior to the date hereof. Assignee hereby agrees to indemnify, save and hold harmless Assignor from and against any and all losses, liabilities, claims, or causes of action (including reasonable attorneys’ fees) arising or
accruing with respect to the Assigned Properties on or after the date hereof. 

 ASSIGNEE ACKNOWLEDGES THAT ASSIGNOR, TO THE EXTENT ASSIGNABLE, IS TRANSFERRING, CONVEYING AND
ASSIGNING AND ASSIGNEE IS ACQUIRING SUCH ASSIGNED PROPERTIES ON AN “AS IS WITH ALL FAULTS” BASIS AND THAT OTHER THAN ANY REPRESENTATIONS AND WARRANTIES EXPRESSLY SET FORTH IN THE PURCHASE AGREEMENT, ASSIGNEE IS NOT RELYING ON ANY
REPRESENTATIONS OR WARRANTIES OF ANY KIND WHATSOEVER, EXPRESS OR IMPLIED, FROM ASSIGNOR, ITS AGENTS, OR BROKERS AS TO ANY MATTERS CONCERNING SUCH PROPERTY, INCLUDING, WITHOUT LIMITATION, ANY WARRANTIES AS TO TITLE OR IMPLIED WARRANTIES OF
MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE, EXCEPT THAT ASSIGNOR OWNS THE ASSIGNED PROPERTIES FREE AND CLEAR OF ANY LIENS. 

[Signature Page Follows] 

 IN WITNESS WHEREOF, the Assignor has executed this instrument as of the 9th day of August, 2017. 

 

			
	ASSIGNOR:
	
	CONCORDE REAL ESTATE LLC, a Nevada limited liability company
		
	By:	 	  

		 	        Kirk Manz, Chief Financial Officer
	
	BHR GREENHOUSE REAL ESTATE, LLC, a Texas limited liability company
		
	By:	 	  

		 	        Kirk Manz, Chief Financial Officer

 
	
	ASSIGNEE:
	
	MRT OF NEVADA - ATF, LLC, a Delaware limited liability company
	
	By:                                     
                                         
                  
	Jeffery C. Walraven, its Chief Financial Officer
	
	MRT OF TEXAS - ATF, LLC, a Delaware limited liability company
	
	By:                                     
                                         
                  
	Jeffery C. Walraven, its Chief Financial Officer

 EXHIBIT A TO BLANKET CONVEYANCE, BILL OF SALE AND ASSIGNMENT 

Real Property Description 
 Resolutions
LV Facility—1000 N Main Street, Las Vegas 
 That portion of the South half (S 1/2) of the Northeast Quarter (NE 1/4) of Section 27, Township
20 South, Range 61 East, M.D.B.&M., Clark County, Nevada, described as follows: 
 Lot 1 as shown by map thereof in File 121 of Parcel Maps, Page 87 in
the Office of the County Recorder, Clark County, Nevada. 
 Desert Hope Facility—3441 S. Eastern Avenue, Las Vegas 

Parcel I: 
 Lot Thirty-Seven (37) in Block Ten (10) of
Paradise Palms Subdivision Unit No. 7, as shown by map thereof on file in Book 6 of Plats, Page 86, in the Office of the County Recorder of Clark County, Nevada. 

Parcel II: 
 Lot Thirty-Eight (38) and the North Half (N  1⁄2) of Lot Thirty-Nine (39) in Block Ten (10) of Paradise Palms Subdivision Unit No. 7 as shown by map thereof on File in Book 6 of Plats, Page 86,
in the Office of the County Recorder of Clark County, Nevada. 
 Greenhouse Facility—2301 Avenue J, Arlington 

Site 8, Block 1, a Revised Final Plat of portion of Block 1 out of Section 2, Second Revision Brookhollow/Arlington, Tarrant County, Texas, according to
the Plat recorded in Volume 388-122, Page 11, Plat Records, Tarrant County, Texas. 
 Resolutions Arlington Facility—1075 Wet N Wild Way, Arlington

 TRACT I: 
 BEING LOT 17 OF WILLIAM O’NEAL ADDITION,
AN ADDITION TO THE CITY OF ARLINGTON, TARRANT COUNTY, TEXAS, ACCORDING TO THE MAP THEREOF RECORDED IN VOLUME 388-190, PAGE 90, OF THE PLAT RECORDS OF TARRANT COUNTY, TEXAS. 

SAVE AND EXCEPT: 
 SMALL TRIANGULAR TRACT AT SOUTHWESTERLY CORNER
OF LOT 17 THAT IS SHOWN ON PLAT 388-190/90 AS RIGHT-OF-WAY DEDICATION TO THE CITY OF ARLINGTON. 
 SAVE AND EXCEPT: 

 BEING A 2.54 ACRE TRACT OF LAND SITUATED IN THE WILLIAM O’NEAL, ABSTRACT NO. 1190, TARRANT COUNTY, TEXAS,
SAME BEING A PORTION OF LOT 17, WILLIAM O’NEAL ADDITION, AN ADDITION TO THE CITY OF ARLINGTON, TARRANT COUNTY, TEXAS, ACCORDING TO THE PLAT THEREOF RECORDED IN VOLUME 388-190, PAGE 90, OF THE PLAT RECORDS OF TARRANT COUNTY, TEXAS, SAME BEING A
PORTION OF THAT CERTAIN TRACT OF LAND CONVEYED TO JIM SEHGAL & RITA SEHGAL, TRUSTEES OF THE SEHGAL REVOCABLE LIVING TRUST, BY DEED RECORDED IN INSTRUMENT NO. D205028887, OF THE DEED RECORDS OF TARRANT COUNTY, TEXAS, AND BEING MORE
PARTICULARLY DESCRIBED AS FOLLOWS: 
 BEGINNING AT A 1 INCH IRON ROD FOUND FOR CORNER, SAID POINT BEING THE NORTHWEST CORNER OF SAID LOT 17, SAME BEING THE
NORTHWEST CORNER OF SAID 2.54 ACRE TRACT, SAME BEING THE SOUTHWEST CORNER OF LOT 1-B-R, BLOCK 2, OF WALNUT ADDITION, AN ADDITION TO THE CITY OF ARLINGTON, TARRANT COUNTY, TEXAS, ACCORDING TO THE PLAT THEREOF RECORDED IN VOLUME 388-98, PAGE 65, OF
SAID PLAT RECORDS, SAME BEING IN THE EAST RIGHT-OF-WAY LINE OF WEST N’ WILD WAY (A VARIABLE WIDTH RIGHT-OF-WAY); 
 THENCE SOUTH 89 DEGREES 25 MINUTES
42 SECONDS EAST, ALONG THE COMMON NORTH LINE OF SAID LOT 17, THE NORTH LINE OF SAID 2.54 ACRE TRACT, AND THE SOUTH LINE OF SAID A LOT 1-B R, A DISTANCE OF 246.50 FEET TO A POINT FOR CORNER, SAID POINT BEING THE NORTHEAST CORNER OF SAID LOT 17, SAME
BEING THE NORTHEAST CORNER OF SAID 2.54 ACRE TRACT, SAME BEING THE NORTHWEST CORNER OF LOT 20, OF WILLIAM O’NEAL ADDITION, AN ADDITION TO THE CITY OF ARLINGTON, TARRANT COUNTY, TEXAS, ACCORDING TO THE PLAT THEREOF RECORDED IN CABINET A, SLIDE
381, OF SAID PLAT RECORDS; 
 THENCE SOUTH 00 DEGREES 01 MINUTE 12 SECONDS WEST, ALONG THE COMMON EAST LINE OF SAID LOT 17, THE EAST LINE OF SAID 2.54 ACRE
TRACT, AND THE WEST LINE OF SAID LOT 20, A DISTANCE OF 490.16 FEET TO A POINT FOR CORNER, SAID POINT BEING THE NORTHEAST CORNER OF A 2,253 SQUARE FOOT TRACT OF LAND DESCRIBED IN WATER SANITARY SEWER EASEMENT EXHIBIT BY GRAHAM ASSOCIATES, INC.,
PROJECT NO. 874-2423, DATED OCTOBER 2006, APPROVED BY CHARLES F. STARK, STATE OF TEXAS R.P.L.S. NO. 5084, SAME BEING THE SOUTHEAST CORNER OF SAID 2.54 ACRE TRACT; 

THENCE NORTH 89 DEGREES 25 MINUTES 02 SECONDS WEST, ALONG THE COMMON SOUTH LINE OF SAID 2.54 ACRE TRACT, AND THE NORTH LINE OF SAID EASEMENT, SAME BEING
THROUGH THE INTERIOR OF SAID LOT 17, A DISTANCE OF 131.50 FEET TO A POINT FOR CORNER, SAID POINT BEING THE MOST SOUTHERLY SOUTHWEST CORNER OF SAID 2.54 ACRE TRACT, SAME BEING THE NORTHWEST CORNER OF SAID EASEMENT, SAME BEING IN A NON-TANGENT CURVE
TO THE RIGHT HAVING A RADIUS OF 365.00 FEET, AND A DELTA ANGLE OF 05 DEGREES 37 MINUTES 30 SECONDS, SAME BEING IN THE EAST RIGHT OF-WAY LINE OF SAID WEST N’ WILD WAY. 

 THENCE IN A NORTHWESTERLY DIRECTION, ALONG SAID EAST RIGHT-OF-WAY LINE, THE WEST LINE OF SAID 2.54 ACRE TRACT,
THE WEST LINE OF SAID LOT 17, AND ALONG SAID CURVE TO THE RIGHT, AN ARC DISTANCE OF 35.83 FEET, AND A CHORD BEARING AND DISTANCE OF NORTH 51 DEGREES 08 MINUTES 33 SECONDS WEST, 35.82 FEET TO A CUT “X” IN CONCRETE SET FOR CORNER, SAID POINT
BEING ON ANGLE POINT IN THE WEST LINE OF SAID LOT 17, AND SAID 2.54 ACRE TRACT; 
 THENCE NORTH 26 DEGREES 07 MINUTES 17 SECONDS WEST, ALONG THE COMMON WEST
LINE OF SAID LOT 17 AND SAID 2.54 ACRE TRACT, AND SAID EAST RIGHT-OF-WAY LINE, A DISTANCE OF 194.56 FEET TO A 3/8 INCH IRON ROD FOUND FOR CORNER, SAID POINT BEING ON ANGLE POINT IN THE WEST LINE OF SAID LOT 17, AND SAID 2.54 ACRE TRACT; 

THENCE NORTH 00 DEGREES 20 MINUTES 42 SECONDS WEST, ALONG THE COMMON WEST LINE OF SAID LOT 17, AND SAID EAST RIGHT-OF-WAY LINE, A DISTANCE OF 294.94 FEET TO
THE POINT OF BEGINNING AND CONTAINING 110.719 SQUARE FEET OR 2.54 ACRES OF COMPUTED LAND. 
 SAVE AND EXCEPT: 

BEING A 891 SQUARE FEET ACRE TRACT OF LAND, MORE OR LESS, SITUATED IN THE COUNTY OF TARRANT STATE OF TEXAS, BEING OUT OF THE WILLIAM O’NEAL SURVEY,
ABSTRACT NO. 1190, TARRANT COUNTY, TEXAS, BEING OUT OF THE WILLIAM O’NEAL ADDITION, AS RECORDED IN VOLUME 388-190, PAGE 90, PLAT RECORDS, TARRANT COUNTY, TEXAS, BEING A PORTION OF LOT 17 AS CONVEYED BY ARLINGTON ACCOMMODATION L.P. TO JAY SEHGAL
AND RITA SEHGAL TRUSTEES OF THE SEHGAL REVOCABLE LIVING TRUST BY DEED DATED JANUARY 31, 2005 AND RECORDED IN CLERKS RECORDS D205028887, DEED RECORDS, TARRANT COUNTY, TEXAS, WHICH 0.020 ACRE TRACT OF LAND, MORE OR LESS, IS MORE PARTICULARLY DESCRIBED
AS FOLLOWS: 
 BEGINNING AT A  1⁄2 INCH IRON ROD FOR CORNER SAID
POINT BEING THE SOUTHEAST CORNER OF SAID LOT 17 AND BEING THE SOUTHWEST CORNER OF LOT 20 OF THE ERNESTO ROIS-MENDEZ TRACT, A RECORDED IN CLERKS RECORDS D205135730, DEED RECORDS, TARRANT COUNTY, TEXAS, ALSO BEING IN THE EXISTING NORTH RIGHT-OF-WAY
LINE OF I.H. 30 (A VARIABLE WIDTH R.O.W.), SAID BEGINNING POINT ALSO BEING 239.79 FEET NORTH OF AND AT RIGHT ANGLES TO PROPOSED CENTERLINE SURVEY STATION 708+54.70 OF I.H. 30 (A VARIABLE WIDTH R.O.W.); 

THENCE SOUTH 89 DEGREES 50 MINUTES 37 SECONDS WEST, ALONG SAID NORTH RIGHT-OF-WAY LINE, FOR A DISTANCE OF 0.29 FEET TO A POINT FOR CORNER; 

 THENCE NORTH 75 DEGREES 16 MINUTES 36 SECONDS WEST, CONTINUING ALONG SAID NORTH RIGHT-OF-WAY LINE, FOR A DISTANCE
OF 83.34 FEET TO A SET TXDOT TYPE II ROW MONUMENT FOR CORNER; 
 THENCE NORTH 89 DEGREES 25 MINUTES 02 SECONDS EAST, LEAVING SAID NORTH RIGHT-OF-WAY LINE,
FOR A DISTANCE OF 80.70 FEET TO A SET TXDOT 5/8 INCH IRON ROD FOR CORNER; 
 THENCE SOUTH 00 DEGREES 31 MINUTES 06 SECONDS EAST, FOR A DISTANCE OF 22.00
FEET TO THE POINT OF BEGINNING. 
 TRACT II: 
 BEING A 2.54
ACRE TRACT OF LAND SITUATED IN THE WILLIAM O’NEAL, ABSTRACT NO. 1190, TARRANT COUNTY, TEXAS, SAME BEING A PORTION OF LOT 17, WILLIAM O’NEAL ADDITION, AN ADDITION TO THE CITY OF ARLINGTON, TARRANT COUNTY, TEXAS, ACCORDING TO THE PLAT
THEREOF RECORDED IN VOLUME 388-190, PAGE 90, OF THE PLAT RECORDS OF TARRANT COUNTY, TEXAS, SAME BEING A PORTION OF THAT CERTAIN TRACT OF LAND CONVEYED TO JIM SEHGAL & RITA SEHGAL, TRUSTEES OF THE SEHGAL REVOCABLE LIVING TRUST, BY DEED
RECORDED IN INSTRUMENT NO. D205028887, OF THE DEED RECORDS OF TARRANT COUNTY, TEXAS, AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: 
 BEGINNING AT A 1
INCH IRON ROD FOUND FOR CORNER, SAID POINT BEING THE NORTHWEST CORNER OF SAID LOT 17, SAME BEING THE NORTHWEST CORNER OF SAID 2.54 ACRE TRACT, SAME BEING THE SOUTHWEST CORNER OF LOT 1-B-R, BLOCK 2, OF WALNUT ADDITION, AN ADDITION TO THE CITY OF
ARLINGTON, TARRANT COUNTY, TEXAS, ACCORDING TO THE PLAT THEREOF RECORDED IN VOLUME 388-98, PAGE 65, OF SAID PLAT RECORDS, SAME BEING IN THE EAST RIGHT-OF-WAY LINE OF WEST N’ WILD WAY (A VARIABLE WIDTH RIGHT-OF-WAY); 

THENCE SOUTH 89 DEGREES 25 MINUTES 42 SECONDS EAST, ALONG THE COMMON NORTH LINE OF SAID LOT 17, THE NORTH LINE OF SAID 2.54 ACRE TRACT, AND THE SOUTH LINE OF
SAID A LOT 1-B R, A DISTANCE OF 246.50 FEET TO A POINT FOR CORNER, SAID POINT BEING THE NORTHEAST CORNER OF SAID LOT 17, SAME BEING THE NORTHEAST CORNER OF SAID 2.54 ACRE TRACT, SAME BEING THE NORTHWEST CORNER OF LOT 20, OF WILLIAM O’NEAL
ADDITION, AN ADDITION TO THE CITY OF ARLINGTON, TARRANT COUNTY, TEXAS, ACCORDING TO THE PLAT THEREOF RECORDED IN CABINET A, SLIDE 381, OF SAID PLAT RECORDS; 

THENCE SOUTH 00 DEGREES 01 MINUTE 12 SECONDS WEST, ALONG THE COMMON EAST LINE OF SAID LOT 17, THE EAST LINE OF SAID 2.54 ACRE TRACT, AND THE WEST LINE OF SAID
LOT 20, A DISTANCE OF 490.16 FEET TO A POINT FOR CORNER, 

 
SAID POINT BEING THE NORTHEAST CORNER OF A 2,253 SQUARE FOOT TRACT OF LAND DESCRIBED IN WATER SANITARY SEWER EASEMENT EXHIBIT BY GRAHAM ASSOCIATES, INC., PROJECT NO. 874-2423, DATED OCTOBER 2006,
APPROVED BY CHARLES F. STARK, STATE OF TEXAS R.P.L.S. NO. 5084, SAME BEING THE SOUTHEAST CORNER OF SAID 2.54 ACRE TRACT; 
 THENCE NORTH 89 DEGREES 25
MINUTES 02 SECONDS WEST, ALONG THE COMMON SOUTH LINE OF SAID 2.54 ACRE TRACT, AND THE NORTH LINE OF SAID EASEMENT, SAME BEING THROUGH THE INTERIOR OF SAID LOT 17, A DISTANCE OF 131.50 FEET TO A POINT FOR CORNER, SAID POINT BEING THE MOST SOUTHERLY
SOUTHWEST CORNER OF SAID 2.54 ACRE TRACT, SAME BEING THE NORTHWEST CORNER OF SAID EASEMENT, SAME BEING IN A NON-TANGENT CURVE TO THE RIGHT HAVING A RADIUS OF 365.00 FEET, AND A DELTA ANGLE OF 05 DEGREES 37 MINUTES 30 SECONDS, SAME BEING IN THE EAST
RIGHT OF-WAY LINE OF SAID WEST N’ WILD WAY. 
 THENCE IN A NORTHWESTERLY DIRECTION, ALONG SAID EAST RIGHT-OF-WAY LINE, THE WEST LINE OF SAID 2.54 ACRE
TRACT, THE WEST LINE OF SAID LOT 17, AND ALONG SAID CURVE TO THE RIGHT, AN ARC DISTANCE OF 35.83 FEET, AND A CHORD BEARING AND DISTANCE OF NORTH 51 DEGREES 08 MINUTES 33 SECONDS WEST, 35.82 FEET TO A CUT “X” IN CONCRETE SET FOR CORNER,
SAID POINT BEING ON ANGLE POINT IN THE WEST LINE OF SAID LOT 17, AND SAID 2.54 ACRE TRACT; 
 THENCE NORTH 26 DEGREES 07 MINUTES 17 SECONDS WEST, ALONG THE
COMMON WEST LINE OF SAID LOT 17 AND SAID 2.54 ACRE TRACT, AND SAID EAST RIGHT-OF-WAY LINE, A DISTANCE OF 194.56 FEET TO A 3/8 INCH IRON ROD FOUND FOR CORNER, SAID POINT BEING ON ANGLE POINT IN THE WEST LINE OF SAID LOT 17, AND SAID 2.54 ACRE TRACT;

 THENCE NORTH 00 DEGREES 20 MINUTES 42 SECONDS WEST, ALONG THE COMMON WEST LINE OF SAID LOT 17, AND SAID EAST RIGHT-OF-WAY LINE, A DISTANCE OF 294.94 FEET
TO THE POINT OF BEGINNING AND CONTAINING 110.719 SQUARE FEET OR 2.54 ACRES OF COMPUTED LAND. 

 EXHIBIT E 

FIRPTA AFFIDAVIT 
  

					
	THE STATE OF TENNESSEE	  	§	  	
		  	§	  	KNOW ALL MEN BY THESE PRESENTS:
	COUNTY OF ROBERTSON	  	§	  	

 Section 1445 of the Internal Revenue Code provides that a transferee of a U.S. real property interest
must withhold tax if the transferor is a foreign person. To inform             (“Transferee”) that withholding of tax is not required upon the disposition of a U.S. real property
interest by             (“Transferor”), Transferor hereby certifies the following: 

1. Transferor is not a foreign corporation, foreign partnership, foreign trust or foreign estate (as those terms are defined in the Internal
Revenue Code and Income Tax Regulations); 
 2. Transferor’s U.S. employer identification number is:
            ; 
 3. Transferor is not a “disregarded entity” as defined
in IRS Regulation 1.1445-2(b)(iii); and 
 4. Transferor’s office address is 200 Powell Place. 

Transferor understands that this certification may be disclosed to the Internal Revenue Service by the Transferee and that any false statement
contained herein could be punished by fine, imprisonment, or both. 
 Under penalties of perjury I declare that I have examined this
certification and to the best of my knowledge and belief it is true, correct, and complete, and I further declare that I have authority to sign this document. 

EXECUTED as of (but not necessarily on) this             day of
            , 2017. 
  

			
	TRANSFEROR:
	
	[                ]
		
	By:	 	  

	Name:	 	  

	Title:	 	  

 SWORN TO AND SUBSCRIBED BEFORE ME this             day of
            , 20[     ]. 

					
	[Notarial Seal]	  		  	
		  		  	  
 Notary Public, State of
                    

		  		  	Print Name:                                  
                  
		  		  	My Commission Expires:                             

 EXHIBIT F 

FACILITY LEASE 
 [ATTACHED]

 SCHEDULE 3.02 

REVIEW ITEMS 
  

	1	Tax Bills - real estate tax bills since January 1, 2014. 

  

	2	Property Condition Reports - All third party reports issued after January 1, 2014 and in Seller’s possession assessing the physical and structural condition of the Property and Property components including,
without limitation: Engineering, Structural, Seismographic, Geotechnical, Mechanical, Roof, Environmental, Fire/Life/Safety, Air Quality Investigations; and ADA reports. 

 

	3	Survey - Most recent as built property survey of the Real Property. 

  

	4	Warranties & Guaranties - Copies of all active warranties and guaranties running to the benefit of Seller for products installed and workmanship performed at the Property. 

 

	5	Litigation - List of all litigation pending against the Property or Seller relating to the Property. 

  

	6	Insurance Documents - Current certificate of property insurance and certificate of liability insurance. 

 SCHEDULE 8.01 

DISCLOSURE SCHEDULE 

None.

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