Document:

EX-10.3

GUARANTY OF NON-RECOURSE CARVE-OUTS

	 	 	 
	Date:
	 	September 16, 2010

	Borrower:
	 	G&E HC REIT II Pocatello MOB, LLC, a Delaware limited liability company

	Guarantor:
	 	Grubb & Ellis Healthcare REIT II, Inc., a Maryland corporation

	Guarantor’s Notice Address:
	 	 	1551 N. Tustin Avenue, Suite 300

Santa Ana, CA 92705

Attn: Andrea R. Biller and Mathieu Streiff

	Lender:
	 	Sun Life Assurance Company of Canada, a Canadian corporation, together with other holders from time to time of

the Note (as herein defined).

	Lender’s Notice Address:
	 	 	c/o Sun Life Assurance Company of Canada

One Sun Life Executive Park

Wellesley Hills, Massachusetts 02481

Attention: Mortgage Investments Group

	State: Idaho
	 	

	Note:
	 	a Promissory Note from Borrower to Lender, of even date herewith, in the principal amount of $8,000,000.00,

and all replacements, substitutions, modifications, renewals and extensions thereof.

	Property:
	 	a leasehold interest in the land, improvements and personal property located at 777 Hospital Way, Building A,

Pocatello, Idaho.

	Mortgage:
	 	a certain Leasehold Deed of Trust, Security Agreement and Fixture Filing from Borrower to Lender encumbering

the Property, of even date herewith, and all modifications or amendments thereto or extensions thereof.

1. Definition of Terms. As used herein, the terms defined above shall have the
meanings given above and any capitalized terms not defined herein shall have the meanings given
them in the Mortgage.

2. Guaranty. Guarantor acknowledges that because of Guarantor’s relationship to
Borrower, Guarantor will substantially benefit from the making of the loan from Lender to Borrower
evidenced by the Note. For this and other valuable consideration, Guarantor hereby assumes
liability for, hereby agrees to pay, and hereby guarantees payment to Lender of, all claims,
demands, liabilities, losses, damages, judgments, penalties, costs and expenses, including, without
limitation, reasonable attorney’s fees and disbursements (collectively, “Damages and Expenses”),
which may be imposed upon, asserted against or incurred or paid by Lender by reason of, on account
of or in connection with, any of the following:

(a) all Damages and Expenses incurred by Lender due to any of the following:
(i) security deposits of tenants of the Property (not previously applied to remedy
tenant defaults or previously returned to tenants in accordance with the express
provisions of their leases) which have not been paid over to Lender; (ii) any rents
prepaid by any tenant of the Property more than one (1) month in advance; (iii) any
insurance proceeds or condemnation awards received by Borrower and not applied
according to the terms of the Mortgage; (iv) accepting Lease termination payments
without Lender’s prior written consent and direction as to use; (v) repairs to the
Property resulting from a casualty not reimbursed by insurance, to the extent
insurance coverage for such repairs was required by the Loan Documents; (vi) fraud,
material misrepresentation or bad faith on the part of Borrower; (vii) any event or
circumstance for which Borrower is obligated to indemnify Lender under the
provisions of the Mortgage respecting Hazardous Substances, Contamination or
Clean-Up; (viii) waste of the Property by Borrower; (ix) Borrower’s failure to pay
real estate taxes or other assessments against the Property; (x) Borrower’s failure
to comply with the Americans with Disabilities Act of 1990, as amended, or (xi) if
the ground lessee (the “Ground Lessee”) under that certain Ground Lease disclosed by
that certain Memorandum of Ground Lease recorded in Bannock County, Idaho on
March 1, 1983 as Instrument Nos. 703253 and 703254 and amended by Amendment recorded
in Bannock County, Idaho on December 10, 1996 as Instrument No. 96020658 blocks
access over the portion of North Loop Road crossing over said Ground Lessee’s leased
parcel between Hospital Way and the Property; and

(b) all rents, issues and profits from the Property collected by Borrower after an
Event of Default has occurred and is continuing or after an event or circumstance
has occurred and is continuing which with the passage of time or the giving of
notice, or both, would constitute an Event of Default, unless such rents, issues and
profits are applied to the normal operating expenses of the Property or to the debt
secured by the Mortgage.

3. Primary and Continuing Nature of Guaranty. The liability of Guarantor hereunder is
present, absolute, unconditional, continuing, primary, direct and independent of the obligations
guaranteed hereby. Lender shall not be required to pursue any other remedies before invoking the
benefits of this Guaranty, including, without limitation, its remedies under the Note, the Mortgage
and the other Loan Documents. The liability of Guarantor shall remain and continue in full force
and effect notwithstanding:

(a) the nonliability of Borrower for any reason whatsoever for the payment and
performance of all or any part of the obligations guaranteed hereby;

(b) the voluntary or involuntary liquidation, dissolution, sale of all or
substantially all of the property described in the Mortgage and the other Loan
Documents, marshalling of assets and liabilities, receivership, insolvency,
bankruptcy, assignment for the benefit of creditors, reorganization, arrangement,
composition or readjustment of, or any similar proceeding affecting Borrower or any
of its assets;

(c) the release of Borrower from the observance of any of the agreements, covenants,
terms or conditions contained in the Note, the Mortgage and the other Loan Documents
by operation of law; and

(d) any defenses or rights of set-off or counter claims which Borrower may have or
assert.

4. Representations and Warranties. Guarantor represents and warrants that the
following are true, correct and complete as of the date hereof:

(a) Each and every warranty and representation made by Borrower in the Note, the
Mortgage and the other Loan Documents is, to the best of Guarantor’s knowledge,
true, correct and complete.

(b) This Guaranty constitutes a legal, valid and binding obligation of Guarantor,
and is fully enforceable in accordance with its terms.

(c) Neither the execution nor delivery of this Guaranty nor fulfillment of nor
compliance with the terms and provisions hereof will conflict with, or result in a
breach of the terms, conditions or provisions of, or constitute a default under or
result in a creation of any lien, charge or encumbrance upon any property or assets
of Guarantor under any agreement or instrument to which Guarantor is now a party or
by which Guarantor may be bound.

(d) Neither Guarantor, nor Borrower, nor any beneficial owner of the Property is a
Related Party of Lender. “Related Party” means an officer, director, employee,
significant shareholder, or such person’s spouse or minor child.

5. Financial Statements. Guarantor shall furnish Lender, immediately upon demand by
Lender, with the most recent quarterly financial statements detailing the income, assets and
liabilities of Guarantor as filed with the U.S. Securities and Exchange Commission.

6. Waivers by Guarantor. Guarantor hereby waives:

(a) any right to require Lender to: (i) proceed against Borrower; (ii) proceed
against, exhaust or participate in any security held by Lender for the payment and
performance of the obligations guaranteed hereby; or (iii) pursue any other remedy
Lender has or to which Lender may be entitled;

(b) any right of subrogation Guarantor has, or to which Guarantor may be entitled,
in and to the benefit of any security which Lender may at any time hold in
connection with the obligations guaranteed hereby until such obligations have been
paid and performed in full;

(c) notice of the acceptance of this Guaranty and presentment, demand, protest and
notice of protest, nonpayment, default or dishonor of the obligations guaranteed
hereby or any renewal or extension thereof; and

(d) diligence on the part of Lender in the collection of the monetary sums included
in the obligations guaranteed hereby, notice of the failure of Borrower to pay or
perform all or any of such obligations in a timely manner, and diligence on the part
of Lender in preserving the liability of any person on any of such obligations.

7. No Waiver by Lender. No failure, omission or delay on the part of Lender in
exercising any rights hereunder or in taking any action to collect or enforce payment or
performance of the obligations guaranteed hereby or in enforcing observance or performance of any
agreement, covenant, term or condition to be performed or observed under the Note, the Mortgage or
the other Loan Documents, either against Borrower or any other person liable therefore shall
operate as a waiver of any such right or in any manner prejudice the rights of Lender against
Guarantor.

8. Subordination. Guarantor hereby agrees that any claim for repayment it may have
with respect to any amount it advances or becomes obligated to advance because of this Guaranty
shall be at all times subordinate to the claims of Lender under the Note, the Mortgage and the
other Loan Documents in all respects, including, without limitation, priority of lien and time of
payment.

9. Multiple Guarantors. If there is more than one Guarantor:

(a) the obligations, covenants, warranties and representations of each Guarantor
shall be joint and several;

(b) the granting of a written release of liability hereunder of less than all of the
Guarantors shall be effective with respect to the liability hereunder only of those
specifically so released, but shall in no way affect the liability hereunder of any
Guarantor not so released; and

(c) each Guarantor waives any right to require Lender to proceed against any other
Guarantor. Any prior or subsequent guaranty to Lender shall not be deemed to be in
lieu of or to supersede or terminate this Guaranty but shall be construed as an
additional or supplementary guaranty unless otherwise expressly provided therein.

10. General.

(a) Costs and Expenses. Guarantor shall pay all reasonable attorneys’ fees, costs
and expenses incurred by Lender in the enforcement of this Guaranty.

(b) Governing Law. This Guaranty shall be enforced and construed in accordance with
the laws of the State and Guarantor waives the right to be sued elsewhere.

(c) Successors and Assigns. If Guarantor is a natural person or persons, this
Guaranty shall not be discharged or in any way affected by the death of Guarantor
(or any one of them if Guarantor consists of more than one natural person). This
Guaranty shall be binding upon Guarantor and the heirs, successors and legal
representatives of Guarantor, and shall inure to the benefit of Lender and the
successors, assigns and legal representatives of Lender. Guarantor may not assign
its rights or delegate its duties under this Guaranty. The transfer or assignment by
Lender of the Note shall operate as a transfer or assignment to the transferee or
assignee of this Guaranty and all rights and privileges hereunder.

(d) Cumulative Remedies. All of Lender’s rights, remedies and recourse under the
Note, the Mortgage and the other Loan Documents, or this Guaranty, are
non-exclusive, separate and cumulative and may be pursued separately, successively
or concurrently, and the exercise of any one of more of them shall in no way limit
or prejudice any other legal or equitable right, remedy or recourse to which Lender
may be entitled.

(e) Gender and Number. Whenever the context so requires the masculine gender shall
include the feminine and/or neuter and the singular number shall include the plural
and conversely in each case.

(f) Modification. No provision hereof shall be modified or limited except by a
written agreement expressly referring hereto and to the provision so modified or
limited and signed by Guarantor and Lender, nor shall this Guaranty be modified or
limited by course of conduct, usage or trade, or by the law of merchants.

(g) Severability. In case any one or more of the provisions contained in this
Guaranty shall for any reason be held to be invalid, illegal or unenforceable in any
respect, such invalidity, illegality or unenforceability shall not affect any other
provision hereof, and this Guaranty shall be construed as if such invalid, illegal
or unenforceable provision has never been contained herein.

(h) Notices. Any notice, request, demand or other communication required or
permitted under this Guaranty (unless otherwise expressly provided therein) shall be
given in writing by delivering the same in person to the intended addressee, by
overnight courier service with guaranteed next day delivery or by certified United
States Mail postage prepaid sent to the intended addressee at the applicable Notice
Address or to such different address as either Guarantor or Lender shall have
designated by written notice to the other sent in accordance herewith. Such notices
shall be deemed given when received or, if earlier, in the case of delivery by
courier service with guaranteed next day delivery, the next day or the day
designated for delivery, or in the case of delivery by certified United States Mail,
2 days after deposit therein. No notice to or demand on Guarantor in any case shall
of itself entitle Guarantor to any other or further notice or demand in similar or
other circumstances.

(i) Survival. This Guaranty and the obligations of Guarantor hereunder shall
survive the discharge of the Mortgage, whether through full payment of the Note,
foreclosure, deed in lieu of foreclosure or otherwise.

[Signature of Guarantor Appears on the Following Page]

1

IN WITNESS WHEREOF, this Guaranty has been executed and delivered as of the date first above
written.

GUARANTOR:

Grubb & Ellis Healthcare REIT II, Inc., a

Maryland corporation

By: /s/ Danny Prosky

Name: Danny Prosky

Title: President and Chief Operating Officer

2EX-10.4

ESCROW AND PLEDGE AGREEMENT

THIS ESCROW AND PLEDGE AGREEMENT (this “Agreement”) is dated for reference purposes
September 16, 2010, and is by and between SUN LIFE ASSURANCE COMPANY OF CANADA, a Canadian
corporation (“Lender”), G&E HC REIT II Pocatello MOB, LLC, a Delaware limited liability company
(“Borrower”), and WESTCAP CORP., a California corporation (“Agent”).

RECITALS

A. Lender has committed to make a loan to Borrower in the amount of EIGHT MILLION AND 00/100
DOLLARS ($8,000,000.00) (the “Loan”), evidenced by Borrower’s promissory note in the amount of
$8,000,000.00 (the “Note”), which Note is secured, in part, by that certain Leasehold Deed of
Trust, Security Agreement and Fixture Filing dated September 1, 2010, and recorded in the real
property records of Bannock County, Idaho on September 16, 2010, as Instrument No. 21015482 (the
“Deed of Trust”) [Borrower and Agent hereby authorize Lender or the closing agent to insert the
date and recording number of the Deed of Trust]. The Note, the Deed of Trust and all other
documents evidencing, securing or relating to the Loan are hereinafter called the “Loan Documents.”
All words that begin with a capital letter in this Agreement that are not defined in this
Agreement, but are defined in one or more of the Loan Documents, shall have the same meaning in
this Agreement as in the Loan Documents.

B. The Deed of Trust encumbers Borrower’s leasehold interest in the real property described in
Exhibit A attached hereto and by this reference incorporated herein (hereinafter called the
“Property”).

C. Lender has agreed to fund the Loan to Borrower so long as (1) $1,856,440.00 of the proceeds
of the Loan are held back and deposited with Agent, to be held by Agent as additional security for
repayment of the Loan and to be used to assist Borrower in payment of tenant improvement costs and
leasing commissions for tenants to occupy space presently leased by Pocatello Health Services, LLC
under a Master Lease dated November 1, 2006, all as more fully set forth below, and (2) one (1)
year’s annual ground rent payment under the Ground Lease described in Exhibit A (the “Ground
Lease”).

AGREEMENT

NOW, THEREFORE, the parties hereto hereby agree as follows:

1. All of the recitals set forth above are hereby incorporated into this Agreement.

2. At the time of funding the Loan, Lender shall require that the closing agent disburse ONE
MILLION EIGHT HUNDRED FIFTY SIX THOUSAND FOUR HUNDRED FORTY AND 00/100 DOLLARS ($1,856,440.00) of
the Loan to Agent (herein called the “Escrowed Amount”), to be held and disbursed by Agent pursuant
to this Agreement. As additional security for repayment of the Note, Borrower does hereby assign,
transfer and pledge to Lender, and hereby grants a security interest to Lender in, the Escrowed
Amount and any and all right, title and interest in any property obtained therewith and the
proceeds thereof by the investment or reinvestment of said Escrowed Amount. This security interest
shall be continuing and shall cover all interest, dividends, gains, proceeds or other income which
is earned by Agent by the investment or reinvestment of the Escrowed Amount.

3. Agent shall deposit the Escrowed Amount in an interest bearing account with Bank of
America, N.A. (“Bank”) under Agent’s name as Collateral Agent for Sun Life Assurance Company of
Canada For Mortgage Loan #716670. Any interest which accrues on the Escrowed Amount shall be added
to and become a part of the Escrowed Amount.

4. Upon Lender having (a) approved a tenant and lease for said tenant’s space for a minimum
term of five (5) years and minimum base rent of Seventeen and 60/100 Dollars ($17.60) per rentable
square foot per year, (b) received a tenant estoppel from said tenant in form and substance
satisfactory to Lender indicating that the tenant is occupying its space and paying rent or,
alternatively, if the tenant has taken occupancy but not yet commenced paying rent, that the tenant
improvements have been completed, that the tenant has been paid all amounts owed to it by Borrower
in connection with such improvements and that the tenant certifies that Borrower is not in default
under the lease nor has any event occurred that with notice, or the passage of time, or both, would
put Borrower in default under the lease, and (c) received and approved evidence from Borrower that
Borrower has paid all tenant improvement costs and leasing commissions for said approved lease,
with such back up information as Lender may reasonably require, including but not limited to
certificates of occupancy, as well as inspection, verification, and certification by Agent,
together with copies of lien releases from all general contractors and subcontractors who
constructed the tenant improvements, Lender shall instruct Agent to disburse a portion of the
Escrowed Amount to Borrower in an amount not to exceed the lesser of (d) the amount paid by
Borrower for tenant improvement costs and leasing commissions in connection with said approved
lease, or (e) $50.00 per rentable square footage for the approved lease. Such disbursements shall
be made within ten (10) business days of the date when Lender has received and approved all of the
items set forth in (a) through (c) above. Notwithstanding anything set forth herein to the
contrary, upon Lender having approved a tenant and lease for said tenant’s space for a minimum term
of five (5) years and minimum base rent of Seventeen and 60/100 Dollars ($17.60) per rentable
square foot per year, disbursements from the Escrowed Amount related solely to the reimbursement of
leasing commissions paid by Borrower in connection with said lease shall be made within ten (10)
business days from the date Lender has approved the relevant brokerage agreement or lease provision
setting forth the obligation to pay the leasing commission, together with evidence reasonably
satisfactory to Lender that Borrower has paid the leasing commission, which reimbursement of
leasing commissions shall be applied against the maximum $50.00 per rentable square footage for the
approved lease. Upon Lender confirming that (i) the building is ninety percent (90%) leased and
occupied by rent paying tenants under approved leases, and (ii) the gross annual base rental income
of the subject property is not less than $1,259,000 which shall be determined by multiplying the
current monthly base rental due under all leases on the first of the month (excluding any tenant
expense contributions) by 12, then Agent shall disburse the balance of the Escrowed Amount to
Borrower.

5. At the time of funding the Loan, Lender shall require that the closing agent disburse
SEVENTEEN THOUSAND SIX HUNDRED AND 00/100 DOLLARS ($17,600.00) of the Loan to Agent (herein called
the “Ground Lease Rent Escrowed Amount” and together with the Escrowed Amount herein called the
“Escrowed Funds”), to be held and disbursed by Agent pursuant to this Agreement. On December 1,
2012, and on the first (1st) day of each December every five years thereafter, Borrower
shall deposit with Agent an amount equal to the increase in the Base Annual Rent pursuant to
Section 3.2 of that certain Ground Lease described in Exhibit A attached hereto (the “Ground
Lease”), which additional deposits shall become part of the Ground Lease Rent Escrowed Amount. As
additional security for repayment of the Note, Borrower does hereby assign, transfer and pledge to
Lender, and hereby grants a security interest to Lender in, the Ground Lease Rent Escrowed Amount
and any and all right, title and interest in any property obtained therewith and the proceeds
thereof by the investment or reinvestment of said Ground Lease Rent Escrowed Amount. This security
interest shall be continuing and shall cover all interest, dividends, gains, proceeds or other
income which is earned by Agent by the investment or reinvestment of the Ground Lease Rent Escrowed
Amount.

6. Agent shall deposit the Ground Lease Rent Escrowed Amount in an interest bearing account
with Bank of America, N.A. (“Bank”) under Agent’s name as Collateral Agent for Sun Life Assurance
Company of Canada For Mortgage Loan #716670. Any interest which accrues on the Ground Lease
Escrowed Amount shall be added to and become a part of the Ground Lease Escrowed Amount.

7. If Borrower fails to pay the Base Annual Rent under the Ground Lease, Lender shall have the
right to direct Agent to pay the Base Annual Rent under the Ground Lease out of the Ground Lease
Escrowed Amount. Upon the payment in full of the Note and satisfaction of all other obligations
under the Loan Documents, Lender shall instruct Agent to return to Borrower the Ground Lease
Escrowed Amount or so much thereof as is then being held by Agent.

8. If an “Event of Default” (as defined in the Deed of Trust) occurs and is continuing, Lender
shall have the right to give written notice thereof to Agent, whereupon Agent shall deliver to
Lender the full amount of the money and other property then held by Agent under this Agreement and
Lender shall have the right to apply, in any amount and in any order as Lender shall determine in
Lender’s sole discretion, any funds held by Lender at the time of application to pay sums due or to
become due on the Note or under the Loan Documents, and to the extent said funds are applied to
reduce the unpaid principal balance under the Note, such application shall entitle Lender to apply
said funds to the prepayment premium described in the Note. Agent shall give prompt notice to
Borrower that Lender has requested disbursement of such funds.

9. The parties agree that Agent will rely upon any notices given to it by Lender under this
Agreement and that Agent shall not be required to investigate nor otherwise inquire into the
propriety of such notice, but rather shall take such action as is mandated by this Agreement.
Borrower hereby releases Agent from any and all liability for such action and agrees that it shall
be limited to its remedies against Lender under the Note and the Loan Documents; provided, that
Agent shall remain liable for its gross negligence, fraud or willful misconduct.

10. Borrower represents that it is authorized to enter into this Agreement, that it will take
such other action as Lender may require in order to perfect this security interest and that it will
not make any other pledge or transfer of the property pledged hereby.

11. Borrower hereby waives any right it may have to require Lender to proceed against any
other security interest which also secures repayment of the Note. Lender may proceed against the
security interest set forth in this Agreement and then against other security, or vice-versa, or at
the same time. Borrower agrees that the laws of the State of Idaho shall apply to this Agreement.

12. No waiver or modification by any of the parties of any of the terms or conditions hereof
shall be effective unless in writing and signed by the party or parties making such waiver or
modification. No waiver or indulgence by Lender as to any required performance by Borrower shall
constitute a waiver as to any subsequent required performance or other obligations of Borrower
hereunder.

13. If any party hereto shall bring any suit or action against another for relief, declaratory
or otherwise, arising out of this Agreement, the prevailing party shall have and recover against
the defaulting party, in addition to court costs and disbursements, such sums as the court may
adjudge to be a reasonable attorney’s fee.

14. Any notice hereunder shall be in writing, delivered in person, mailed by certified mail,
return receipt requested and postage prepaid, or delivered by a commercially recognized overnight
courier such as Federal Express, to the appropriate party or parties at the addresses set forth in
the Deed of Trust or to such other address as the parties may hereafter designate in writing.

15. This Agreement shall be enforced and construed in accordance with the laws of the State of
Idaho.

16. This Agreement may be executed in any number of original counterparts, each of which shall
be deemed an original, but all of which when taken together shall constitute one and the same
instrument. The signature pages of any counterpart may be detached therefrom without impairing the
legal effect of the signature(s) thereon, provided such signature pages are attached to any other
counterpart identical thereto except having additional signature pages executed by other parties to
this Agreement attached thereto. Facsimile or email transmission of a copy of this Agreement
signed by a party, and retransmission of any signed facsimile or email transmission, shall be the
same as delivery of an original. At the request of any party, the parties shall confirm facsimile
or email transmitted signatures by signing an original document.

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

[Signatures of the Parties Appear on the Following Three Pages]

1

LENDER:

SUN LIFE ASSURANCE COMPANY OF CANADA

Per: /s/ Robert Floyd

Name: Robert Floyd

Title Senior Managing Director

Subscribing Witness

/s/ A. Deitrich

Per: /s/ Ron Shields

Name: Ron Shields

Title: Director

Subscribing Witness

/s/ A. Deitrich

I/We have the authority to bind the Corporation.

BORROWER:

G&E HC REIT II POCATELLO MOB, LLC

By: /s/ Danny Prosky

Name: Danny Prosky

Title: Authorized Signatory

2

	 	 	AGENT:

WESTCAP CORP.

By: /s/ Craig Rommel

Name: Craig Rommel

Title: Managing Director

3

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