Document:

EX-10.1

 Exhibit 10.1 

ASSET PURCHASE AGREEMENT 
 BETWEEN

 MIDAMERICA SURGERY INSTITUTE PROPERTIES II, LLC, 

AS SELLER, 
 AND 

CHP II PARTNERS, LP, 
 AS
PURCHASER 
 Dated as of October 2, 2017 

 TABLE OF CONTENTS 

 

							
			
	1.	 	DEFINITIONS	  	1
				
		 	1.1	 	Definitions	  	1
			
	2.	 	PURCHASE AND SALE, ASSETS AND LIABILITIES	  	9
				
		 	2.1	 	Purchase and Sale	  	9
				
		 	2.2	 	Description of the Assets	  	9
				
		 	2.3	 	Excluded Assets	  	10
				
		 	2.4	 	Retained Liabilities	  	11
				
		 	2.5	 	Assumed Liabilities	  	11
			
	3.	 	PURCHASE PRICE	  	11
				
		 	3.1	 	Purchase Price	  	11
				
		 	3.2	 	Deposit	  	11
				
		 	3.3	 	Payment of Purchase Price	  	13
				
		 	3.4	 	Allocation of Purchase Price	  	13
			
	4.	 	DUE DILIGENCE AND INSPECTION	  	13
				
		 	4.1	 	Right to Inspect	  	13
				
		 	4.2	 	Matters Relating to Title	  	16
				
		 	4.3	 	Assignment and Assumption of Facility Contracts, Tenant Leases, and Transferred Licenses and Permits	  	17
				
		 	4.4	 	Purchaser’s Election Whether or Not to Proceed	  	18
				
		 	4.5	 	Release and Indemnification	  	18
				
		 	4.6	 	No Representation or Warranty by Seller	  	18
			
	5.	 	REPRESENTATIONS AND WARRANTIES	  	18
				
		 	5.1	 	Seller’s Representations and Warranties	  	18
				
		 	5.2	 	Purchaser’s Representations and Warranties	  	24

  
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	6.	 	COVENANTS	  	 	25	 
				
		 	6.1	 	Confidentiality	  	 	25	 
				
		 	6.2	 	Assessments	  	 	26	 
				
		 	6.3	 	Conduct of the Operations of the Property	  	 	26	 
				
		 	6.4	 	Tax Contests	  	 	27	 
				
		 	6.5	 	Notices and Filings	  	 	28	 
				
		 	6.6	 	Further Assurances	  	 	28	 
				
		 	6.7	 	Estoppel Certificates/SNDA	  	 	29	 
				
		 	6.8	 	Exclusivity	  	 	30	 
				
		 	6.9	 	Bulk Sales	  	 	30	 
				
		 	6.10	 	Employees	  	 	30	 
				
		 	6.11	 	Post-Closing Audit	  	 	30	 
				
		 	6.12	 	Non-Solicitation	  	 	31	 
			
	7.	 	CLOSING CONDITIONS	  	 	31	 
				
		 	7.1	 	Purchaser’s Closing Conditions	  	 	31	 
				
		 	7.2	 	Failure of Any Purchaser’s Closing Condition	  	 	32	 
				
		 	7.3	 	Seller’s Closing Conditions	  	 	32	 
				
		 	7.4	 	Failure of Seller’s Closing Conditions	  	 	33	 
			
	8.	 	CLOSING	  	 	34	 
				
		 	8.1	 	Closing Date	  	 	34	 
				
		 	8.2	 	Closing Escrow	  	 	34	 
				
		 	8.3	 	Seller’s Closing Deliveries	  	 	34	 
				
		 	8.4	 	Purchaser’s Closing Deliveries	  	 	36	 
			
	9.	 	PRORATIONS AND EXPENSES	  	 	37	 
				
		 	9.1	 	Closing Statement	  	 	37	 
				
		 	9.2	 	Closing and Other Costs, Adjustments and Prorations	  	 	37	 

  
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		 	9.3	 	Proration Schedule	  	 	39	 
				
		 	9.4	 	Re-Prorations	  	 	39	 
				
		 	9.5	 	Cash	  	 	39	 
				
		 	9.6	 	Employees	  	 	39	 
				
		 	9.7	 	Leasing Costs	  	 	39	 
			
	10.	 	DEFAULT AND REMEDIES	  	 	40	 
				
		 	10.1	 	Seller’s Default	  	 	40	 
				
		 	10.2	 	Purchaser’s Default	  	 	40	 
				
		 	10.3	 	Liquidated Damages	  	 	40	 
			
	11.	 	RISK OF LOSS	  	 	41	 
				
		 	11.1	 	Casualty	  	 	41	 
				
		 	11.2	 	Condemnation	  	 	41	 
			
	12.	 	SURVIVAL, INDEMNIFICATION AND RELEASE	  	 	42	 
				
		 	12.1	 	Survival	  	 	42	 
				
		 	12.2	 	Indemnification by Seller	  	 	42	 
				
		 	12.3	 	Indemnification by Purchaser	  	 	42	 
				
		 	12.4	 	Indemnification Procedure. Notice of Indemnification Claim	  	 	43	 
				
		 	12.5	 	Holdback	  	 	44	 
				
		 	12.6	 	Acknowledgements Concerning Representations and Warranties	  	 	44	 
				
		 	12.7	 	Disclaimers by Seller	  	 	44	 
				
		 	12.8	 	Sale “As Is, Where Is”	  	 	45	 
				
		 	12.9	 	Seller Released from Liability	  	 	46	 
				
		 	12.10	 	Survival	  	 	46	 
			
	13.	 	MISCELLANEOUS PROVISIONS	  	 	47	 
				
		 	13.1	 	Notices	  	 	47	 

  
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		 	13.2	 	Time is of the Essence	  	 	48	 
				
		 	13.3	 	Assignment	  	 	48	 
				
		 	13.4	 	Successors and Assigns	  	 	48	 
				
		 	13.5	 	Third Party Beneficiaries	  	 	48	 
				
		 	13.6	 	Rules of Construction	  	 	49	 
				
		 	13.7	 	Severability	  	 	49	 
				
		 	13.8	 	Governing Law, Jurisdiction and Venue	  	 	49	 
				
		 	13.9	 	WAIVER OF JURY TRIAL	  	 	50	 
				
		 	13.10	 	Attorneys’ Fees	  	 	50	 
				
		 	13.11	 	Incorporation of Recitals Exhibits, and Schedules	  	 	50	 
				
		 	13.12	 	No Other Agreements	  	 	50	 
				
		 	13.13	 	Further Actions	  	 	50	 
				
		 	13.14	 	No Waiver	  	 	50	 
				
		 	13.15	 	Modifications	  	 	51	 
				
		 	13.16	 	Counterpart and Electronic Execution	  	 	51	 
				
		 	13.17	 	Required Disclosures	  	 	51	 
				
		 	13.18	 	No Personal Liability	  	 	51	 
				
		 	13.19	 	Good Faith Efforts	  	 	51	 
				
		 	13.20	 	Post-Execution Disclosures	  	 	51	 
				
		 	13.21	 	No Recordation	  	 	51	 
				
		 	13.22	 	Discharge of Obligations	  	 	52	 

  
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 LISTS OF EXHIBITS AND SCHEDULES 

List of Exhibits 
  

			
	Exhibit A –	  	Property
		
	Exhibit 4.2.5 –	  	Assignment and Assumption of Ground Lease Form
		
	Exhibit 8.3.1 –	  	Seller’s Closing Certificate Form
		
	Exhibit 8.3.2 –	  	Deed Form
		
	Exhibit 8.3.3 –	  	Bill of Sale Form
		
	Exhibit 8.3.4 –	  	Assignment and Assumption of Tenant Leases Form
		
	Exhibit 8.3.5 –	  	Assignment and Assumption of Facility Contracts and Licenses and Permits Form
		
	Exhibit 8.3.6 –	  	Assignment and Assumption of Intellectual Property Form
		
	Exhibit 8.3.13 –	  	Holdback Escrow Agreement Form
		
	Exhibit 8.4.3 –	  	Purchaser’s Closing Certificate Form

 List of Schedules 
  

			
	Schedule 2.2.4 –	  	Personal Property
		
	Schedule 2.2.5 –	  	Tenant Leases
		
	Schedule 2.2.7 –	  	Facility Contracts
		
	Schedule 5.1.6 –	  	Litigation

  
 v 

 ASSET PURCHASE AGREEMENT 

THIS ASSET PURCHASE AGREEMENT (this “Agreement”) is made as of October 2, 2017 (the “Effective
Date”), by and between MIDAMERICA SURGERY INSTITUTE PROPERTIES II, LLC, a Kansas limited liability company (“Seller”), and CHP II PARTNERS, LP, a Delaware limited partnership (
“Purchaser”) (Seller and Purchaser are at times hereinafter referred to individually as a “Party” and collectively as the “Parties”). 

R E C I T A L S 
 A. Seller is
the owner of tenant’s ground lease interest in and to certain real property improved as a medical office building containing approximately 38,496 square feet known as “Overland Park Medical Office Building”, located at 5525 West 119th Street, Overland Park, KS 66209 (the “MOB”). 
 B. Purchaser
desires to purchase, and Seller desires to sell the Assets (as defined herein) on the terms and conditions set forth in this Agreement. 

NOW, THEREFORE, in consideration of the provisions contained in this Agreement, and intending to be legally bound hereby, the Parties
agree as follows: 
 1. DEFINITIONS 

1.1 Definitions. In addition to the terms defined in the body of this Agreement, the following
terms will have the following meanings in this Agreement: 
 “Affiliate” has the following meaning: two entities are
“Affiliates” if 
  

	 	(a)	one of the entities is a Subsidiary of the other entity; 

  

	 	(b)	both of the entities are Subsidiaries of the same entity; or 

  

	 	(c)	both of the entities are Controlled by the same Person. 

 “Agreement” has the
meaning set forth in the first paragraph of this Agreement. 
 “Applicable Law” means (i) all federal, state, and
local statutes, laws, common law, rules, regulations, ordinances, codes, guidances, policies, or other legal requirements of any Governmental Authority, stock exchange, board of fire underwriters and similar quasi-governmental authority, and
(ii) any judgment, injunction, restrictive covenant, declaration, order or other similar requirement of any court or other adjudicatory authority of competent jurisdiction in effect at the time in question and in each case to the extent the
Person or property in question is subject to the same. 
 “Assets” has the meaning set forth in Section 2.2 of
this Agreement. 
 “Assumed Liabilities” has the meaning set forth in Section 2.5 of this Agreement. 

“Bankruptcy Code” has the meaning set forth in Section 5.1.14 of this Agreement. 

  
 1 

 “Books and Records” has the meaning set forth in Section 2.2.12 of
this Agreement. 
 “Business Day” means any day other than a Saturday, Sunday or any United States federal legal holiday.

 “Casualty” has the meaning set forth in Section 11.1 of this Agreement. 

“Closing” has the meaning set forth in Section 8.1 of this Agreement. 

“Closing Date” means the date on which the Closing takes place. 

“Closing Escrow” has the meaning set forth in Section 8.1 of this Agreement. 

“Closing Escrow Agreement” has the meaning set forth in Section 8.2 of this Agreement. 

“Closing Statement” has the meaning set forth in Section 9.1 of this Agreement. 

“COBRA” means the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended from time to time. 

“Code” means the Internal Revenue Code of 1986, as amended from time to time, and any regulations, rulings and guidance
issued by the Internal Revenue Service. 
 “Condemnation” has the meaning set forth in Section 11.2 of this
Agreement. 
 “Control” means: 

(a) the right to exercise, directly or indirectly, a majority of the votes which may be voted at a meeting of (i) the shareholders of the
corporation, in the case of a corporation, (ii) the shareholders of the general partner, in the case of a limited partnership, or (iii) the equity holders or other voting participants of a Person that is not a corporation or limited
partnership; or 
 (b) the right to elect or appoint, directly or indirectly, a majority of (i) the directors of the corporation, in the
case of a corporation, (ii) the directors of the general partner, in the case of a limited partnership, or (iii) a majority of the Persons who have the right to manage or supervise the management of the affairs and business of a Person
that is not a corporation or limited partnership, 
 (c) and “Controlled” has a corresponding meaning. 

“Declaration” means that certain Declaration of Covenants, Restrictions and Easements dated February 28, 2005 and
recorded March 2, 2005 in Official Records Book 200503, Page 937, Register of Deeds, Johnson County, Kansas, as amended by that certain First Amendment to Declaration of Covenants, Restrictions and Easements effectively dated February 28,
2005 and recorded July 20, 2005 in Official Records Book 200507, Page 8859, Register of Deeds, Johnson County, Kansas. 

“Deed” means the deed to be delivered by Seller to Purchaser pursuant to Section 8.3.2. 

  
 2 

 “Deposit” has the meaning set forth in Section 3.2.1 of this
Agreement. 
 “Effective Date” has the meaning set forth in the opening paragraph of this Agreement. 

“Employees” means at the time in question all Persons employed full-time or part-time by or for the benefit of Seller or any
property manager in connection with the Property, if any. 
 “Environmental Claims” means all claims for reimbursement,
remediation, abatement, removal, clean up, contribution, personal injury, property damage or damage to natural resources made by any Governmental Authority or other Person arising from or in connection with (i) the presence or actual or
potential spill, leak, emission, discharge or release of any Hazardous Materials over, on, in, under or from the Property, or any portion thereof, or (ii) any violation of any Environmental Laws with respect to the Assets. 

“Environmental Laws” means all Applicable Law relating to industrial hygiene or to environmental or unsafe conditions or to
human health including, but not limited to, those relating to the generation, manufacture, storage, handling, transportation, disposal, release, emission or discharge of Hazardous Materials, including those in connection with the construction, fuel
supply, power generation and transmission, waste disposal or any other operations or processes relating to the Assets, including, without limitation, the Property, or any portion thereof, and those relating to the atmosphere, soil, surface and
ground water, wetlands, stream sediments and vegetation on, under, in or about the Assets, including, without limitation, any portion of the Property. 

“Environmental Liabilities” means all Liabilities under any Environmental Laws arising from or in connection with the Assets,
including, without limitation, any obligations to manage, control, contain, remove, remedy, respond to, clean up or abate any actual or potential presence, spill, leak, emission, discharge or release of any Hazardous Materials, pollution,
contamination or radiation into any water, soil, sediment, air, Improvements or other environmental media. 
 “ERISA” means
the Employee Retirement Income Security Act, as amended from time to time and any regulations, ratings and guidance issued pursuant thereto. 

“Escrow Agent” means Title Company, acting in its capacity as escrow agent pursuant to the terms hereof, or such other escrow
agent as is mutually acceptable to Seller and Purchaser. 
 “Exception Cure Period” has the meaning set forth in
Section 4.2.1 of this Agreement. 
 “Excluded Assets” has the meaning set forth in Section 2.3 of
this Agreement. 
 “Facility Contracts” has the meaning set forth in Section 2.2.7 of this Agreement. 

“FDIC” has the meaning set forth in Section 3.2.2 of this Agreement. 

“First Deposit” has the meaning set forth in Section 3.2.1 of this Agreement. 

“Fixtures” has the meaning set forth in Section 2.2.3 of this Agreement. 

  
 3 

 “Ground Lease” means that certain Ground Lease dated February 28, 2005
between Ground Lessor, as lessor, and Seller, as lessee, as evidenced by that certain Memorandum of Lease dated February 28, 2005 and recorded March 2, 2005 in Official Records Book 200503, Page 938, Register of Deeds, Johnson County,
Kansas, as amended by that certain First Amendment to Ground Lease to Correct Scrivener’s Error dated effective as of February 28, 2005, as further amended by that certain Second Amendment to Ground Lease dated October 21, 2005. 

“Ground Lessor” means Central Tennessee Hospital Corporation, a Tennessee corporation. 

“Governmental Authority” or “Governmental Authorities” means any federal, state or local government or other
political subdivision thereof, including, without limitation, any Person exercising executive, legislative, judicial, regulatory or administrative governmental powers or functions, in each case to the extent the same has jurisdiction over the Person
or property in question. 
 “Hazardous Materials” means petroleum and petroleum products, flammable explosives, radioactive
materials (excluding radioactive materials in smoke detectors), polychlorinated biphenyls, radon, lead/asbestos in any form, hazardous waste, toxic or hazardous substances, molds, microbiological agents, and other related materials whether in the
form of a chemical, biologic, element, natural agent, compound, solution, mixture or otherwise, all to the extent identified, managed, regulated or governed by Environmental Law, including, but not limited to, those materials defined under
Environmental Laws as “hazardous substances,” “extremely hazardous substances,” “hazardous chemicals,” “hazardous materials,” “toxic substances,” “solid waste,” “toxic chemicals,”
“air pollutants,” “toxic pollutants,” “hazardous wastes,” “extremely hazardous waste,” or “restricted hazardous waste”. 

“Holdback” has the meaning set forth in Section 12.5 of this Agreement. 

“Holdback Escrow Agreement” has the meaning set forth in Section 8.3.13 of this Agreement. 

“Improvements” means all buildings, structures, and improvements located on or affixed to the Property, including all
fixtures which constitute real property under Applicable Law. 
 “Indemnification Loss” means, with respect to any
Indemnitee, any Liability, including, without limitation, reasonable attorneys’ fees and expenses and court costs, incurred by such Indemnitee as a result of the act, omission or occurrence in question. 

“Indemnification Claim” has the meaning set forth in Section 12.4 of this Agreement. 

“Indemnitee” has the meaning set forth in Section 12.4 of this Agreement. 

“Indemnitor” has the meaning set forth in Section 12.4 of this Agreement. 

  
 4 

 “Inspection Period” means the period beginning on the Effective Date of this
Agreement and ending at 5:00 p.m., Eastern Standard Time, on the thirtieth (30th) day following such Effective Date. 

“Inspections” means any inspections, examinations, tests, investigations, or studies of the Assets, including, without
limitation, the Property conducted by or on behalf of Purchaser (or any Affiliate thereof). 
 “Intangible Assets” has the
meaning set forth in Section 2.2.11 of this Agreement. 
 “Intellectual Property” means all works of
authorship, including without limitation, all literary works, pictorial, graphic and sculptural works, architectural works, software, works of visual art, and any other work that may be the subject matter of copyright protection and all worldwide
registrations thereof; any trademarks, service marks, brand names, trade dress, trade names, designs and any other word, symbol, device, product configuration, slogan or any combination thereof used to distinguish or identify goods or services that
may be the subject matter of trademark protection, including all worldwide applications and registrations therefore and associated goodwill; any patents, invention disclosures or inventions, including all processes, machines, manufactures and
compositions of matter, designs and any other invention that may be the subject matter of patent protection, and all worldwide statutory or other legal protection obtained or obtainable therein, including without limitation all published and granted
patents and pending applications and provisionals, reissues, divisionals, renewals, extensions, continuations, and continuations-in-part, design patents and industrial design registrations; all domain names, URLs, websites, and all data, content,
“look and feel”, operating and underlying code or software of all websites; all trade secrets, proprietary information, data, and knowledge and experience of a technical, commercial or administrative nature, including all proprietary
information, know-how, information processes, operating, maintenance and other manuals, data and databases, computer programs, including all documentation, design specifications, and flowcharts, operational and other plans, schematics and drawings,
customer data and lists, advertising, marketing and product concepts and campaigns and other valuable or proprietary information or data; and all worldwide statutory protection obtained or obtainable thereon on all of the preceding; all rights to
enforce, enjoin or sue, any claims, judgments, causes of action or other legal and equitable rights and remedies arising out of or related to any infringement, misappropriation or violation of any of the foregoing; and all right, title and interest
to claim royalties, residuals, damages and other remuneration for use of any of the foregoing rights. 
 “Leasehold
Interests” mean the tenant interests under the Ground Lease. 
 “Liability” means any liability, obligation,
damage, loss, cost or expense of any kind or nature whatsoever, whether accrued or unaccrued, and “Liabilities” has a corresponding meaning. 

“Licenses and Permits” has the meaning set forth in Section 4.1.1 of this Agreement. 

“MOB” has the meaning set forth in Recital A of this Agreement. 

“New Survey Defect” has the meaning set forth in Section 4.2.2 of this Agreement. 

  
 5 

 “New Title Exception” has the meaning set forth in Section 4.2.2 of
this Agreement. 
 “Ordinary Course of Business” means the ordinary course of business consistent with Seller’s past
custom and practice for the applicable business, taking into account the seasonality of the business and such other commercially reasonable facts and circumstances in existence from time to time. 

“Party” or “Parties” has the meaning set forth in the first paragraph of this Agreement. 

“Permitted Exception” has the meaning set forth in Section 4.2.1 of this Agreement. 

“Person” means any natural person, firm, corporation, general or limited partnership, limited liability company, association,
joint venture, trust, estate, Governmental Authority or other legal entity, in each case whether in its own or a representative capacity. 

“Personal Property” has the meaning set forth in Section 2.2.2 of this Agreement. 

“Plans and Specifications” has the meaning set forth in Section 2.2.9 of this Agreement. 

“Property” means that certain real property more particularly described as such on Exhibit A attached hereto. 

“Proration Date” has the meaning set forth in Section 9.2.4 of this Agreement. 

“Proration Schedule” has the meaning set forth in Section 9.2.4 of this Agreement. 

“Prorations” has the meaning set forth in Section 9.2.4 of this Agreement. 

“Purchase Price” has the meaning set forth in Section 3.1 of this Agreement. 

“Purchaser” has the meaning set forth in the opening paragraph of this Agreement. 

“Purchaser’s Closing Condition Failure” has the meaning set forth in Section 7.2 of this Agreement. 

“Purchaser’s Closing Conditions” has the meaning set forth in Section 7.1 of this Agreement. 

“Purchaser’s Closing Deliveries” has the meaning set forth in Section 8.4 of this Agreement. 

“Purchaser’s Default” has the meaning set forth in Section 10.2 of this Agreement. 

“Purchaser’s Documents” has the meaning set forth in Section 5.2.2 of this Agreement. 

“Purchaser’s Due Diligence Reports” means all studies, reports and assessments prepared by any Person for or on behalf
of Purchaser and at Purchaser’s direction (other than any internal studies, reports and assessments prepared by any of Purchaser’s employees, attorneys or accountants) in connection with the Inspections. 

  
 6 

 “Purchaser’s Indemnitees” means Purchaser and its Affiliates, and each of
their respective shareholders, members, partners, trustees, beneficiaries, directors, officers and employees, and the successors, assigns, legal representatives, heirs and devisees of each of the foregoing. 

“Purchaser’s Inspectors” means any Person that conducted any Inspections for or on behalf of Purchaser or any Affiliate
thereof. 
 “Retained Liabilities” has the meaning set forth in Section 2.4 of this Agreement. 

“ROFR” has the meaning set forth in Section 5.1.12 of this Agreement. 

“Second Deposit” has the meaning set forth in Section 3.2.1 of this Agreement. 

“Seller” and “Seller” have the meanings set forth in the opening paragraph of this Agreement. 

“Seller’s Certificate” means that certain document, the form of which is attached hereto as Exhibit 8.3.1, to be
delivered by Seller at Closing. 
 “Seller’s Closing Condition Failure” has the meaning set forth in
Section 7.4 of this Agreement. 
 “Seller’s Closing Conditions” has the meaning set forth in
Section 7.3 of this Agreement. 
 “Seller’s Closing Deliveries” has the meaning set forth in
Section 8.3 of this Agreement. 
 “Seller’s Default” has the meaning set forth in Section 10.1
of this Agreement. 
 “Seller’s Documents” has the meaning set forth in Section 5.1.2 of this Agreement.

 “Seller’s Due Diligence Materials” means all documents and materials provided by Seller to Purchaser, pursuant to
this Agreement or otherwise, together with any copies or reproductions of such documents or materials. 
 “Seller’s
Indemnitees” means Seller and its Affiliates, and each of their respective shareholders, members, partners, trustees, beneficiaries, directors, officers and employees, and the successors, assigns, legal representatives, heirs and devisees
of each of the foregoing. 
 “Seller’s Knowledge” means the actual knowledge of Stephen Richards after reasonable
inquiry with Seller’s property manager for the Property; provided that so qualifying Seller’s knowledge shall in no event give rise to any personal liability on the part of Stephen Richards, or any other officer or employee of Seller, on
account of any breach of any representation or warranty made by Seller herein. 
 “SNDAs” has the meaning set forth in
Section 6.7 of this Agreement. 
 “Subsidiary” means, in respect of any Person: 

(d) any corporation of which more than 50% of the outstanding capital stock having ordinary voting power to elect the majority of the board of
directors of such corporation is at the time directly or indirectly owned by (i) such Person, (ii) such Person and one or more subsidiaries of such Person, or (iii) one or more subsidiaries of such Person; or 

  
 7 

 (e) any limited or general partnership, joint venture, limited liability company or other entity
as to which (i) such Person, (ii) such Person and one or more of its subsidiaries, or (iii) one or more subsidiaries of such Person owns, more than a 50% ownership, equity or similar interest or has power to direct or cause the
direction of management and policies, or the power to elect the general partner or managing partner (or equivalent thereof), of such limited or general partnership, joint venture, limited liability company or other entity, as the case may be. 

“Survey Defects” has the meaning set forth in Section 4.2.1 of this Agreement. 

“Survey” means the survey of the Property, or any portion thereof, to be obtained by Purchaser, at Purchaser’s option,
during the Inspection Period. 
 “Taxes” means any federal, state, local or foreign, real property, personal property,
sales, use, room, occupancy, ad valorem or similar taxes, assessments, levies, charges or fees imposed by any Governmental Authority on Seller with respect to any of the Assets, including, without limitation, any interest, penalty or fine with
respect thereto, but expressly excluding any (i) federal, state, local or foreign income, capital gain, gross receipts, capital stock, franchise, profits, estate, gift or generation skipping tax, or (ii) transfer, documentary stamp,
recording or similar tax, levy, charge or fee incurred with respect to the transactions described in this Agreement. 
 “Tenant
Leases” has the meaning set forth in Section 2.2.5 of this Agreement. 
 “Third-Party Claim” means,
with respect to the Person in question, any claim, demand, lawsuit, arbitration or other legal or administrative action or proceeding against the Person in question by any other Person which is not an Affiliate of the Person in question. 

“Third-Party Estoppels” has the meaning set forth in Section 6.7 of this Agreement. 

“Title Commitment” has the meaning set forth in Section 4.2.1 of this Agreement. 

“Title Company” means First American Title Insurance Company, National Commercial Services Division, whose address is 420 S.
Orange Avenue, Suite 250, Orlando, Florida 32801, Attention: Michael J. Moore, Esquire, Vice President and Counsel – NCS Florida State Manager. 

“Title Exceptions” has the meaning set forth in Section 4.2.1 of this Agreement. 

“Title Notice” has the meaning set forth in Section 4.2.1 of this Agreement. 

“Title Policy” has the meaning set forth in Section 4.2.4 of this Agreement. 

  
 8 

 “Transferred Licenses and Permits” means Seller’s right, title and
interests, if any, in any licenses and permits which relate to the Leasehold Interest and/or the Improvements that are assignable by Seller and that Buyer requests in writing to be assigned to it at the Closing. 

“Unpermitted Exceptions” has the meaning set forth in Section 4.2.1 of this Agreement. 

“Warranties” has the meaning set forth in Section 2.2.10 of this Agreement. 

“WARN Act” means the Worker’s Adjustment and Retraining Notification Act, 29 U.S.C. §2101 et seq., and any similar
state and local laws, as amended from time to time, and any regulations, rules and guidance issued pursuant thereto. 

2. PURCHASE AND SALE, ASSETS AND LIABILITIES 

2.1 Purchase and Sale. Seller agrees to sell the Assets to Purchaser and Purchaser agrees to buy
the Assets from Seller, all in accordance with the terms and conditions set forth in this Agreement. 
 2.2
Description of the Assets. In this Agreement, the term “Assets” means all of the following, but expressly excluding the Excluded Assets: 

2.2.1 Leasehold Interests. The Leasehold Interests. 

2.2.2 Improvements. All Improvements. 

2.2.3 Fixtures. All of Seller’s right, title and interest to any fixtures located on, attached to and/or forming a
part of the Property, other than those which constitute the Improvements (the “Fixtures”) 
 2.2.4
Personal Property. All of Seller’s tangible personal property located at the Property, including, without limitation, any and all furniture, equipment, machinery, tools, and appliances, located at or used in connection with the Property,
a complete listing of which is attached as Schedule 2.2.4 (the “Personal Property”). 
 2.2.5
Tenant Leases. All of Seller’s right, title and interest in and to all leases, subleases, licenses, concessions and similar agreements granting to any other Person the right to use or occupy any portion of the Property, a complete
listing of which is attached hereto as Schedule 2.2.5 (collectively, the “Tenant Leases”) together with all security deposits held by Seller thereunder. 

2.2.6 Intellectual Property. All of Seller’s right, title and interest (if any) in and to any Intellectual
Property related to the Property, including (if any) all trade names and trademarks associated with the Property and Improvements. 

2.2.7 Facility Contracts. To the extent assignable or transferable, all of Seller’s right, title and interest in
and to any contracts, including, but not limited to, maintenance, service and supply contracts, and all other similar agreements for goods or services which are applicable to the operation of the Property (the “Facility
Contracts”), which Facility Contracts are set forth in Schedule 2.2.7, together with all deposits made or held by Seller thereunder. 

  
 9 

 2.2.8 Transferred Licenses and Permits. All of Seller’s right, title
and interest in and to the Transferred Licenses and Permits together with any deposits made by Seller thereunder. 
 2.2.9
Plans and Specifications. To the extent assignable or transferable, all of Seller’s right, title and interest in and to any plans and specifications, blue prints, architectural plans, and engineering diagrams which specifically relate to
the Property (the “Plans and Specifications”). 
 2.2.10 Warranties. To the extent assignable
or transferable, all warranties and guaranties held by Seller with respect to any of the Assets (the “Warranties”). 

2.2.11 Intangible Assets. To the extent assignable or transferable, all of Seller’s right, title and interest in
and to any and all drawings, surveys, environmental and soil reports, telephone and facsimile numbers listing in directories, vendor and supplier lists and files, credit records, security codes and any unexpired guaranties or warranties
(collectively, the “Intangible Assets”). 
 2.2.12 Books and Records. Copies of all of
Seller’s books and records which relate to the use, ownership or operation of any of the Assets, but expressly excluding all documents and other materials which are legally privileged or constitute attorney work product, any purchase and escrow
agreements and correspondence pertaining to Seller’s acquisition of the Property, market studies, appraisals, any documents pertaining to any potential acquisition of the Property by any past or prospective purchasers, and any third Person
purchase inquiries (the “Books and Records”). 
 2.2.13 Other Assets. All other assets,
rights, and interest of Seller in and to the Property, not constituting Excluded Assets. 
 2.3
Excluded Assets. Notwithstanding anything to the contrary in Section 2.2, the following property, assets, rights and interests (the “Excluded Assets”) are excluded from the Assets: 

2.3.1 Third-Party Assets. Any fixtures, personal property or intellectual property owned by tenants under Tenant Leases
or Seller’s property manager. 
 2.3.2 Accounts Receivable. Seller’s accounts receivable and rents
receivable accruing prior to the Closing Date. 
 2.3.3 Organizational Documents. All Organizational Documents,
minutes books, stock registers and such other books and records of Sellers as pertain to the ownership, organization or existence of Sellers. 

2.3.4 Cash. All cash on hand and cash equivalents, including bank accounts, money market funds and temporary cash
investments. 

  
 10 

 2.4 Retained Liabilities. The parties acknowledge
that Purchaser is acquiring the Assets only and, as such, Purchaser shall not have any obligations or liabilities concerning or in any way relating to, arising or accruing from the ownership or operation of the Property prior to Closing, unless the
same are explicitly assumed pursuant to the terms of this Agreement (“Retained Liabilities”). The rights and obligations of the Parties under this Section 2.4 shall survive the Closing. 

2.5 Assumed Liabilities. At Closing, Purchaser shall assume (i) all Liabilities under the
Ground Lease, Tenant Leases, Facility Contracts and Transferred Licenses and Permits that are not Retained Liabilities and which arise or accrue on or after the Closing Date, (ii) the payment of Taxes and assessments which arise or accrue on or
after the Closing Date, and (iii) any and all obligations or liabilities concerning or in any way relating to, arising or accruing from the ownership or operation of the Property or Assets arising on or after the Closing or as a result of
Purchaser’s acts or omissions (“Assumed Liabilities”). The rights and obligations of the Parties under this Section 2.5 shall survive Closing. 

3. PURCHASE PRICE 

3.1 Purchase Price. The purchase price for the Assets is Fourteen Million and No/100 Dollars
($14,000,000.00) (the “Purchase Price”), which shall be adjusted at Closing as expressly set forth in this Agreement. 

3.2 Deposit. 

3.2.1 Deposit. Within three (3) Business Days after the Effective Date, Purchaser shall deliver to Escrow Agent
the sum of TWO HUNDRED FIFTY THOUSAND AND NO/100 Dollars ($250,000.00), which shall be held by the Escrow Agent as a deposit under this Agreement (the “First Deposit”). Unless this Agreement is terminated prior to the
expiration of the Inspection Period, whereupon the First Deposit shall be promptly returned by Escrow Agent to the Purchaser, Purchaser shall, within three (3) Business Days following the expiration of the Inspection Period, deposit with the
Title Company an additional sum equal to TWO HUNDRED FIFTY THOUSAND AND NO/100 Dollars ($250,000.00) (the “Second Deposit”) in good funds either by certified bank or cashier’s check or by federal wire transfer. The First
Deposit and the Second Deposit (together totaling $500,000.00), together with any interest earned thereon as provided herein, shall hereinafter be referred to collectively as the “Deposit”. 

3.2.2 Maintenance of Deposit. The Deposit shall be held by the Escrow Agent in an interest-bearing account, under
Purchaser’s taxpayer identification number of 36-4813948 pursuant to the terms and conditions of this Agreement with such changes thereto as may be agreed to by Seller and Purchaser pursuant thereto. The Deposit shall be fully refunded to
Purchaser upon termination of this Agreement by Purchaser prior to the expiration of the Inspection Period and otherwise if this Agreement is terminated by Purchaser in accordance with any right of Purchaser to do so under this Agreement. Otherwise,
it shall be non-refundable to Purchaser except as expressly provided in this Agreement. If the Deposit is to be paid to Seller under the provisions of this Agreement, Escrow Agent shall pay the Deposit to Seller in the manner and on the terms and

  
 11 

 
conditions set forth herein. Escrow Agent shall not be responsible for any penalties, or loss of principal or interest or any delays in the withdrawal of the Deposit which may be imposed by the
depository as a result of the making or redeeming of the investment pursuant to the instructions of Purchaser and Seller, nor shall Escrow Agent be liable for any loss or impairments of funds while those funds are in the course of collection or
while those funds are on deposit in a financial institution if such a loss or impairment results from the failure, insolvency or suspension of such financial institution. Escrow Agent is not responsible for levies by taxing authorities based on the
taxpayer identification number used to establish the Account. Purchaser and Seller are aware of the Federal Deposit Insurance Corporation (“FDIC”) coverage limits for each individual depositor. Further, Purchaser and Seller
understand that Escrow Agent assumes no responsibility for any loss that occurs due to any individual depositor’s account balance exceeding the amount, if any, insured by the FDIC, and Purchaser and Seller will not hold Escrow Agent liable for
any such loss. Purchaser and Seller further understand that certain banking instruments are not covered at all by FDIC insurance. The Deposit held by Escrow Agent shall be subject to the provisions of Chapter 717, Florida Statutes. 

3.2.3 Disbursement of Deposit to Seller. At Closing, Purchaser shall cause the Escrow Agent to disburse the Deposit to
Seller, and Purchaser shall receive a credit against the Purchase Price in the amount of the Deposit. 
 3.2.4 Refund of
Deposits to Purchaser. If this Agreement is terminated and Purchaser is entitled to a refund of the Deposit under any express provision of this Agreement, then the Escrow Agent shall disburse the Deposit to Purchaser no later than two
(2) Business Days after termination. 
 3.2.5 Forfeiture of Deposit. If Purchaser’s Default occurs and
remains uncured beyond any applicable cure period, upon the expiration of such cure period, Purchaser shall forfeit the Deposit and Escrow Agent shall disburse the Deposit to Seller no later than two (2) Business Days after the expiration of
such cure period. In such case, pursuant to Section 10.2, the Deposit shall be Seller’s sole and exclusive remedy except as otherwise set forth in this Agreement, and the Parties shall have no further rights or obligations under
this Agreement, except those which expressly survive such termination. 
 3.2.6 Disagreements Regarding Deposit. If
Escrow Agent shall be unable to determine at any time to whom the Deposit should be paid or if a dispute should develop between Seller and Purchaser concerning the disposition of the Deposit, then in any such event, Escrow Agent shall pay the
Deposit in accordance with the joint (or consistent) written instructions of Seller and Purchaser. In the event that such joint (or consistent) written instructions shall not be received by Escrow Agent within ten (10) days after Escrow Agent
shall have served written requests for such joint (or consistent) written instructions upon Seller and Purchaser, Escrow Agent shall have the right to pay all of the Deposit into a court of competent jurisdiction in Orlando, Florida, and to
interplead Seller and Purchaser in respect thereof; and, thereafter, Escrow Agent shall be discharged of any further or continuing obligations in connection with the Deposit. 

  
 12 

 3.2.7 Escrow Agent’s Costs and Expenses. If costs and expenses
(including attorneys’ fees) are incurred by Escrow Agent because of litigation or any dispute between Seller and Purchaser arising out of the holding of the Deposit, the non-prevailing party in such dispute shall reimburse Escrow Agent for
reasonable costs and expenses incurred. Seller and Purchaser hereby agree and acknowledge that Escrow Agent assumes no Liability in connection with the holding or investment of the Deposit pursuant hereto, except for the negligence or willful
misconduct of Escrow Agent and its employees and agents. Escrow Agent shall not be responsible for the validity, correctness or genuineness of any document or notice referred to herein; and, in the event of any dispute under this Agreement relating
to the disposition of the Deposit, Escrow Agent may seek advice from its own counsel and, provided that Escrow Agent tenders the Deposit into a court of competent jurisdiction in Orlando, Florida, Escrow Agent shall be fully protected in any action
taken in good faith in accordance with the opinion of Escrow Agent’s counsel. Seller and Purchaser hereby agree and acknowledge that the Escrow Agent assumes no Liability in connection with the holding or investment of the Deposit pursuant
hereto, and Seller and Purchaser hereby agree to indemnify and hold Escrow Agent harmless from and an all liability, costs, damages, including court costs and attorney’s fees, which Escrow Agent may in good faith sustain or incur in connection
with this Agreement, except for the gross negligence or willful misconduct of Escrow Agent and its employees and agents. 
 
3.3 Payment of Purchase Price. 
 3.3.1 Payment at Closing. At Closing, Purchaser shall pay to
Seller (as directed by Seller) by wire transfer an amount equal to the Purchase Price (as adjusted pursuant hereto), less the Deposit. 

3.3.2 Method of Payment. All amounts to be paid by Purchaser to Seller pursuant to this Agreement shall be paid by wire
transfer of immediately available U.S. federal funds. 
 3.4 Allocation of Purchase Price.
The Parties agree that the Purchase Price shall be allocated between the Property and the Personal Property for federal, state and local tax purposes as may be mutually determined by Purchaser and Seller in their reasonable discretion prior to the
expiration of the Inspection Period. 
 4. DUE DILIGENCE AND INSPECTION 

4.1 Right to Inspect. 

4.1.1 At all times prior to Closing, Purchaser and Purchaser’s Inspectors shall, subject to at least one
(1) business day’s prior notice to Seller’s property manager, Bonne J. Piccirilli, (Telephone: 816-412-8420, E-Mail: bpiccirilli@blockllc.com) (except that for any invasive testing permitted herein or any requested tenant interview at
least two (2) business day’s prior notice shall be provided), have the right to enter upon the Property at reasonable times and to perform, at Purchaser’s expense, such Inspections of and concerning the Assets, as Purchaser may
reasonably deem appropriate. Upon one (1)

  
 13 

 
Business Days’ notice, Purchaser shall have the right to meet and interview Persons involved in the management and operation of the Property to discuss the business operations, including the
revenues, expenses, operation and physical condition of the Assets, and shall have the one-time right to meet and interview tenant representatives (provided, however, Purchaser shall have the right to conduct follow-ups with tenants if reasonably
required by Purchaser). In addition, Purchaser shall have the right, but not the obligation, to contact such Governmental Authorities as it may elect in connection with the transactions contemplated by this Agreement. The Inspections shall not
unreasonably interfere with the operation of the applicable Property or the tenant’s operations thereon. Purchaser shall allow Seller the opportunity to participate in any communication with a tenant or Governmental Authority and to be present
for any physical Inspections of the Assets, but such right to have a Seller representative present shall not cause a material delay in any such communications or Inspections. Within three (3) Business Days following the Effective Date, to the
extent in Seller’s possession or reasonable control, Seller shall furnish to Purchaser, or make available to Purchaser via an electronic “war room,” all information with respect to the Assets, each of which will be, to Seller’s
Knowledge (except for any documents delivered by Seller pursuant to Sections 5.1.9, 5.1.10, 5.1.13, and 5.1.23, which are being furnished by Seller without a “Seller’s Knowledge” qualifier), a true, correct
and complete copy of the document it purports to be, including but not limited to the following (collectively, “Seller Disclosure Materials”): 

(i) All Warranties which are still in effect to which Seller may be entitled to make a claim; 

(ii) All licenses and permits relating to Seller’s ownership of the Leasehold Interests and Improvements (the
“Licenses and Permits”); 
 (iii) The most recent real estate tax statements with respect to the
Property, if any; 
 (iv) The surveys, engineering and architectural plans, drawings and specifications relating to the
Property, as applicable, including, without limitation, the Plans and Specifications; 
 (v) All contracts affecting the
Assets in any material respect; 
 (vi) Copies of the Books and Records; 

(vii) The Ground Lease and all Tenant Leases and all agreements for real estate commissions, brokerage fees, finder’s fees
or other compensation payable in connection therewith which will be binding on Purchaser after the Closing; 
 (viii) Three
(3) years of certified financial statements for the MOB; and, 

  
 14 

 (ix) All other information and documentation that Purchaser may reasonably
request in writing regarding the Assets so long as such information and documentation is in Seller’s possession or control, and is not proprietary. 

From the Effective Date through Closing, Seller shall reasonably cooperate with Purchase, at Purchaser’s expense, in the conduct of its
Inspections of the Assets and shall answer any reasonable questions of Purchaser and provide updates of the rent rolls and other financial information provided as set forth above or otherwise in the Agreement as the same are produced or at the
request of Purchaser and in any event five (5) Business Days prior to Closing. Purchaser and Purchaser’s Inspectors shall take all reasonable precautions to not interfere with Seller’s operations of the Assets, make reasonable
commercial efforts to minimize the impact on the Property of any Inspections and coordinate with Seller regarding communications with Seller’s employees and Governmental Authorities relating to the Inspections. With respect to physical
Inspections of the Assets to be conducted by Purchaser (e.g., environmental Inspections), Purchaser shall retain professional third-party consultants to complete such Inspections and shall require such third-party consultants to maintain
liability insurance coverage for their activities that is consistent with liability insurance coverage customarily maintained by similar professional third-party consultants, provided that in all events such liability insurance shall be in an amount
at least equal to One Million Dollars ($1,000,000) combined single limit. Upon Seller’s request, Purchaser shall provide evidence of such insurance coverage. Such insurance shall (a) name Seller and Ground Lessor as additional insureds,
(b) contain a provision that the insurance provided thereunder shall be primary and noncontributing with any other insurance available to Seller, and (c) otherwise be in a form and substance reasonably satisfactory to the Seller (which
approval Seller agrees to provide within one (1) business day following receipt of evidence of insurance and, if Seller fails to respond within one (1) business day, such failure to respond shall be deemed approval by Seller).
Notwithstanding the foregoing, Seller agrees to reasonably co-operate with Purchaser if, after commercially reasonable efforts, Purchaser is unable to cause a third-party consultant to strictly comply with the insurance requirements set forth herein
so long as such third-party consultant otherwise provides insurance which is generally consistent with insurance coverage customarily maintained by similar professional third-party consultants. Such third-party consultants will be notified of and
advised to comply with the confidentiality provisions set forth in this Agreement. If Purchaser or Purchaser’s Inspectors intend to undertake or perform any “Phase II” environmental studies or other invasive or destructive testing,
sampling or studies, Purchaser shall first obtain Seller’s written approval, such approval not to be unreasonably withheld, conditioned or delayed. Purchaser shall, immediately after any entry, inspection or test, restore the Assets, in all
material respects and at its sole cost, to the condition which existed immediately prior thereto (to the extent practicable), including replacing paving and landscaping. If a lien is placed against the Property as a result of Purchaser’s
inspections, Purchaser shall use commercially reasonable efforts to pay or cause to be removed such liens within ten (10) days of written notice thereof, but in any event such lien shall be paid or caused to be removed by Purchaser or
Inspecting Parties within thirty (30) days of written notice thereof. The foregoing restoration obligations of Purchaser shall survive the Closing or earlier termination of this Agreement. In the event this Agreement is terminated by Purchaser
pursuant to the terms hereof and, at the time of termination, any lien placed against the Property as a result of Purchaser’s inspections remains in place, Escrow Agent may retain such portion of the Deposit as is required to satisfy such lien
until such time as the lien is released. In the event the transaction contemplated by this 

  
 15 

 
Agreement is not consummated, Purchaser shall return to Seller any and all due diligence materials provided by Seller to Purchaser hereunder. All Inspections shall be performed in accordance with
all applicable laws. Subject to any limitations imposed by any third party consultant, Purchaser shall promptly, following Seller’s written request, provide Seller with full and complete copies of all reports, studies, surveys and other written
materials developed by or provided to Purchaser in connection with all inspections, tests and studies conducted by or on behalf of Purchaser. 

4.2 Matters Relating to Title. 

4.2.1 State of Title. Purchaser may obtain a current title commitment (the “Title Commitment”)
with respect to the Property from the Title Company, together with legible copies of all title exception documents. Purchaser may also obtain, at its own cost, the Survey during the Inspection Period. Within ten (10) Business Days after the
date of receipt by Purchaser of the Title Commitment and Survey (but in any event, five (5) calendar days prior to the expiration of the Inspection Period), Purchaser may submit to Seller a written Notice from Purchaser (“Title
Notice”) specifying any alleged defects in or objections to the title shown in the Title Commitment or any of the Survey. Any matters to which Purchaser objects in the Title Notice shall constitute “Title
Exceptions”, and any survey defects to which Purchaser objects in the Title Notice shall constitute “Survey Defects” (the Title Exceptions and Survey Defects shall collectively be referred to as the
“Unpermitted Exceptions”). Seller shall notify Purchaser in writing within five (5) Business Days of receiving the Title Notice (the “Exception Cure Period”) whether Seller will cure any
Unpermitted Exceptions set forth in the Title Notice and, if Seller elects to cure such Unpermitted Exceptions, Seller shall do so at its own expense (the failure to so notify Purchaser within such five (5) Business Days being deemed an
election not to cure such Unpermitted Exceptions). Upon Purchaser’s failure to timely object, all matters shown on the Title Commitment or on the Survey shall thereafter be deemed a “Permitted Exception”. Any matter
which Seller elects or is deemed to have elected not to cure shall also be deemed a Permitted Exception unless Purchaser elects to terminate this Agreement by written notice to Seller within five (5) Business Days after Purchaser receives
written notice of Seller’s election not to cure such objection or Seller is deemed to have elected not to cure such Unpermitted Exception. If Seller elects to cure any or all of the Unpermitted Exceptions, but is unable to complete the cure of
such Unpermitted Exceptions before Closing, Purchaser shall have the right, in its absolute discretion, to elect, upon written notice to Seller within five (5) Business Days of written notice from Seller that Seller is unable to cure such
Unpermitted Exceptions, to either (A) proceed to the Closing in which event any such Unpermitted Exceptions shall be deemed to be Permitted Exceptions; or (B) to proceed pursuant to Section 4.2.2. Failure by Purchaser to
deliver the notice referred to in the immediately preceding sentence shall be deemed an election under (B) above and failure of Seller to cure any default it has elected to cure hereunder shall be an Event of Default. Notwithstanding anything
to the contrary in this Agreement, the Ground Lease and the Declaration shall be Permitted Exceptions. 
 4.2.2 Failure
of Title. If on the Closing Date the Leasehold Interests and Improvements are not insurable or are subject to any Unpermitted Exceptions, Purchaser 

  
 16 

 
may elect, as its sole right and remedy, either (i) to take such title to such interests as can be conveyed, with no abatement of the Purchase Price (except for abatement to the extent of
monetary liens of a definite, fixed and ascertainable amount not in excess of the Purchase Price), or (ii) to terminate this Agreement and proceed pursuant to Article 10 below. 

4.2.3 Updated Title Commitment and Survey. If prior to Closing any update of the Title Commitment discloses any Title
Exception which is not disclosed in a Title Commitment previously obtained by Purchaser and does not arise by, through or under Purchaser (a “New Title Exception”), or any update of the Survey obtained by Purchaser discloses
any Survey Defect which is not disclosed in the Survey previously obtained by Purchaser (a “New Survey Defect”), Purchaser shall notify Seller of any objections thereto within five (5) days of receipt of such Title
Commitment or Survey. If Purchaser sends such an objection, the Parties shall have the same rights and obligations with respect to such matters as apply to Unpermitted Exception under Section 4.2.1. Seller will not, during the term of
this Agreement, create or permit to exist any New Title Exception or New Survey Defect without Purchaser’s prior written consent, which consent shall not be unreasonably withheld, conditioned or delayed. 

4.2.4 Title Policy. At Closing, Purchaser shall take such steps as may be necessary to cause the Title Company to issue
a standard leasehold’s title insurance policy to Purchaser (the “Title Policy”) and a standard loan title insurance policy to Purchaser’s lender, as applicable, subject only to the applicable Permitted Exceptions.

 4.2.5 Conveyance of the Leasehold Interests and Improvements. At Closing Seller shall convey the Leasehold
Interests via the form of Assignment and Assumption of Ground Lease attached hereto as Exhibit 4.2.5 and the Improvements to Purchaser via the Deed, subject only to the Permitted Exceptions (provided, however, neither Assignment nor Deed
shall list as a Permitted Exception any exception for any matters appearing solely on the Survey and not otherwise appearing in the public records of Johnson County, Kansas). 

4.3 Assignment and Assumption of Facility Contracts, Tenant Leases, and Transferred Licenses and
Permits. On the Closing Date, the Tenant Leases shall be assigned by Seller and assumed by Purchaser as of the Closing Date pursuant to the assignment and assumption agreement described in Section 8.3.4 and the Facility Contracts
and Transferred Licenses and Permits shall be assigned by Seller and assumed by Purchaser as of the Closing Date pursuant to the assignment and assumption agreement described in Section 8.3.5. Notwithstanding the foregoing, on or before
the termination of the Inspection Period, Purchaser shall identify in writing to Seller (i) which Facility Contracts it agrees to assume, and (ii) any such Facility Contracts it does not agree to assume, and Seller shall retain such
Facility Contracts as Retained Liabilities or terminate such disapproved Facility Contracts at its sole cost and expense as of the Closing Date. Notwithstanding anything to the contrary, Purchaser shall not be responsible for the obligations under
any Facility Contracts that it does not expressly approve in writing during the Inspection Period and assume in the assignment and assumption. 

  
 17 

 4.4 Purchaser’s Election Whether or Not to
Proceed. If Purchaser determines in its sole discretion for any reason, or no reason at all, that it does not desire to acquire the Assets and Purchaser notifies Seller and the Escrow Agent of such determination in writing prior to the
expiration of the Inspection Period, then the Deposit shall be returned to Purchaser, this Agreement shall be of no further force or effect, and the Parties hereto shall have no further obligations to the other (except for any obligations or
liabilities that expressly survive termination of this Agreement). In any instance where Purchaser has the discretion to elect to terminate this Agreement, and in fact does elect to terminate this Agreement pursuant to this Article 4, Escrow
Agent shall return the Deposit to Purchaser without further instructions, consent or written authorization by Seller. This provision shall constitute the mutual escrow instructions to Escrow Agent and Escrow Agent shall be entitled and required to
rely upon such instructions to return the Deposit to Purchaser without consent or further action by Seller. 

4.5 Release and Indemnification. Purchaser (for itself and all Purchaser’s
Indemnitees) hereby releases Seller’s Indemnitees for any Indemnification Loss incurred by any Purchaser Indemnitee arising from or in connection with the Inspections, except to the extent resulting from the gross negligence or willful
misconduct of Seller’s Indemnitee. Purchaser shall indemnify, save, insure pay, defend and hold harmless Seller’s Indemnitees in accordance with Article 12 from and against any Indemnification Loss incurred by Seller’s
Indemnitee arising from or in connection with the Inspections, except to the extent resulting from the gross negligence or willful misconduct of Seller’s Indemnitee. 

4.6 No Representation or Warranty by Seller. Purchaser acknowledges that, except as expressly
set forth in this Agreement, Seller has not made and does not make any warranty or representation regarding the truth, accuracy or completeness of the Property Seller’s Due Diligence Materials or the source(s) thereof. Purchaser further
acknowledges that, except as expressly set forth in this Agreement, some if not all of the Seller’s Due Diligence Materials were prepared by third parties other than Seller. Except as expressly set forth in this Agreement, Seller expressly
disclaims any and all liability for representations or warranties, express or implied, statements of fact and other matters contained in such information, or for omissions from the Seller’s Due Diligence Materials, or in any other written or
oral communications transmitted or made available to Purchaser. Except as expressly set forth in this Agreement including Seller’s representations and warranties in Section 5.1 Purchaser shall rely solely upon its own investigation
with respect to the Property and Assets, including, without limitation, the Property’s Asset’s physical, environmental or economic condition, compliance or lack of compliance with any ordinance, order, permit or regulation or any other
attribute or matter relating thereto. Seller has not undertaken any independent investigation as to the truth, accuracy or completeness of the Seller’s Due Diligence Materials and are providing the Seller’s Due Diligence Materials solely
as an accommodation to Purchaser. 
 5. REPRESENTATIONS AND WARRANTIES 

5.1 Seller’s Representations and Warranties. To induce Purchaser to enter into this
Agreement and to consummate the transactions described in this Agreement, Seller hereby makes the representations and warranties in this Section 5.1, upon which Seller acknowledges and agrees that Purchaser is entitled to rely, and as of
Closing shall provide a certificate reconfirming that all such representations and warranties remain true and correct as of the Closing Date, except as updated in accordance with Section 13.20. 

  
 18 

 5.1.1 Organization and Power. Seller is duly formed, validly existing, in
good standing in the jurisdiction of its incorporation or formation, and is qualified to do business in the State of Kansas. 

5.1.2 Authority and Binding Obligation. (i) Seller has obtained the approval of its members of this Agreement and
the transactions described herein and has full power and authority to execute and deliver this Agreement and all other documents to be executed and delivered by it pursuant to this Agreement (the “Seller’s Documents”),
and to perform all obligations required of it under this Agreement and each of Seller’s Documents; (ii) the execution and delivery by Seller of this Agreement and, when executed and delivered, Seller’s Documents, and the performance
by Seller of its obligations under this Agreement and, when executed and delivered, each of Seller’s Documents, have been duly and validly authorized by all necessary limited liability company action by Seller; and (iii) this Agreement
and, when executed and delivered, Seller’s Documents constitutes, or will constitute, legal, valid and binding obligations of Seller enforceable against Seller in accordance with its and their terms, except to the extent Purchaser itself is in
default hereunder or thereunder. 
 5.1.3 Consent and Approvals; No Conflicts. Subject to the recording of
Seller’s Documents, as appropriate, (i) no filing with, and no permit, authorization, consent or approval of, any Governmental Authority or other Person is necessary for execution or delivery by Seller of any of Seller’s Documents, or
the performance by Seller of any of its obligations under this Agreement or any of Seller’s Documents or the consummation by Seller of the transactions described in this Agreement, except to the extent such permit, authorization, consent or
approval (a) has been or will be obtained by Seller prior to or at Closing or (b) obtaining such permit, authorization, consent or approval is Purchaser’s responsibility hereunder. There is no agreement to which Seller is a party or,
to Seller’s Knowledge, that is binding on Seller which is in conflict with this Agreement. There is no Applicable Law or action or proceeding pending or, to Seller’s Knowledge, threatened against Seller or relating to the Property or the
Assets, which challenges or impairs Seller’s ability to execute or perform its obligations under this Agreement. 

5.1.4 Condemnation. Seller has not received any written notice of any pending condemnation proceeding or other
proceeding in eminent domain, and to Seller’s Knowledge, no such condemnation proceeding or eminent domain proceeding is threatened affecting the Property, or any portion thereof. 

5.1.5 Compliance with Applicable Law. Seller has not received any written notice of, any violation of any provision of
Applicable Law (including, but not limited to, the Americans with Disabilities Act, COBRA, and Environmental Laws), with respect to the ownership, operation, use, maintenance or condition of the Property which has not been cured or dismissed with
prejudice. 

  
 19 

 5.1.6 Litigation. Except as set forth on Schedule 5.1.6, Seller has
not (i) been served or threatened in writing with any court filing in any litigation with respect to any Assets in which Seller is named a party which has not been resolved, settled or dismissed and which could result in a material or adverse
impact on the Assets or Seller’s title to any of the Assets or (ii) received written notice of any claim, charge or complaint from any Governmental Authority pursuant to any administrative, arbitration, or similar adjudicatory proceeding
with respect to any Assets which has not been resolved, settled or dismissed. 
 5.1.7 Taxes. All Taxes which would
be delinquent if unpaid at Closing will be paid in full or prorated at Closing as part of the prorations pursuant to Article 9; provided, however, that if any Taxes are payable in installments, such representation and warranty shall apply
only to such installments which would be delinquent if unpaid at Closing. Seller has not received any written notice for an audit or delinquency of any Taxes with respect to any Assets which has not been resolved or completed. To Seller’s
Knowledge, there are no outstanding unpaid municipal assessment notices against the Assets. Seller is not currently contesting any Taxes with respect to any Assets. All state and local Tax returns and Tax reports required to be filed by Seller with
respect to the Assets on or before the date hereof have been timely filed with the appropriate governmental agencies. All Taxes and other assessments and levies which Seller is required by law to withhold or to collect with respect to the Assets
have been duly withheld and collected, and have been paid over to the proper governmental authorities and agencies to the extent due and payable. Other than extensions to file any Seller’s tax returns, there are no agreements by Seller for the
extension of time for the assessment of any Tax. 
 5.1.8 Licenses and Permits. To Seller’s Knowledge, Seller
has made, or will make, available to Purchaser a true and complete copy of the Licenses and Permits that are necessary for the ownership and operation of the Assets. Seller shall close or caused to be closed any open building permits or open notices
of violation prior to Closing. 
 5.1.9 Ground Lease. To Seller’s Knowledge, the Ground Lease is in full force
and effect and neither Seller nor Ground Lessor is in breach or default under any obligation thereunder, or any provision thereof. Seller has received no written notice of default under the Ground Lease nor has Seller served upon Ground Lessor
written notice of default by Ground Lessor under the Ground Lease. Other than the Ground Lease or Permitted Exceptions, there are no additional agreements between Seller and Ground Lessor that will be binding on Purchaser after the Closing. Seller
has provided to Purchaser a true, correct, and complete copy of the Ground Lease and all amendments thereto. 
 5.1.10
Tenant Leases. Schedule 2.2.5 sets forth a true, correct and complete list and rent roll with respect to the Tenant Leases, and Seller has made available to Purchaser for review a copy of each of the Tenant Leases in Seller’s
possession, which are true, correct and complete copies of the Tenant Leases in all material respects. Neither Seller nor, to Seller’s Knowledge, any tenant is in breach or default of any Tenant Leases and Seller has not given nor received any
written notice of any breach or default under any of the Tenant Leases which has not been cured. No rents due under any of the 

  
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Tenant Leases are presently assigned, hypothecated or encumbered by Seller, other than in connection with any mortgage encumbering the Property which shall be satisfied prior to or in connection
with the Closing. Except as set forth in Schedule 2.2.5, no tenants are entitled to any rebates, rent concessions or free rent and there are no unpaid brokerage commissions or unpaid landlord obligations for tenant improvements in connection
with the current term of occupancy or any extension thereof of tenants under the Tenant Leases. Except as set forth on Schedule 2.2.5, no rent under any of the Tenant Leases has been prepaid (except for rental for the current month and
payments that are required to be made in advance pursuant to the terms and provisions of the Tenant Leases and except for prepayments set forth in the Tenant Leases). No tenant has notified Seller in writing of its intent to terminate its Tenant
Lease prior to expiration of the term of such Tenant Lease. Prior to Closing, Seller will deliver to Purchaser an updated rent roll signed by a representative of Seller which shall contain information current as of no earlier than five
(5) Business Days prior to Closing and shall replace Schedule 2.2.5 for all purposes under this Agreement. 

5.1.11 Possession. Except pursuant to the Permitted Exceptions, Tenant Leases, and Facility Contracts, no Person other
than Seller has any license, lease or other right pursuant to an agreement signed by or on behalf of Seller or Seller’s property manager relating to the use or possession of the Property or any part thereof. 

5.1.12 Purchase Rights. To Seller’s Knowledge, there are no options or other agreements of any kind, whereby any
Person other than Purchaser will have acquired or will have any right to acquire title or interest to all or any portion of the Assets, and to Seller’s Knowledge, there are no purchase contracts, options or other agreements of any kind, whereby
any Person will have any right to acquire title or interest to all or any portion of the Assets, except for the except for the right of first refusal held by Ground Lessor and Las Encinas Hospital, a California corporation, under the Declaration
(the “ROFR”). 
 5.1.13 Facility Contracts. Schedule 2.2.7 sets forth a true, correct
and complete list of the Facility Contracts. The copies heretofore delivered to Purchaser are true, correct and complete in all material respects. To Seller’s Knowledge, no party to the Facility Contracts is in breach or default under any
material obligation thereunder or any provisions thereof and each of the Facility Contracts is in full force and effect in accordance with its terms. With respect to any Persons whose consent is required as a condition to Seller’s assignment of
the Facility Contracts to Purchaser at Closing, Seller covenants to employ diligent, good faith efforts to obtain such consent(s) in writing (in a form reasonably acceptable to Purchaser) prior to the Closing Date. 

5.1.14 Bankruptcy. Seller is not insolvent within the meaning of Title 11 of the United States Code, as amended (the
“Bankruptcy Code”), and Seller is able to repay its debts as they become due. Seller has not filed or taken any action to file a voluntary petition, case or proceeding under any section or chapter of the Bankruptcy Code, or
under any similar law or statute of the United States or any state thereof, relating to bankruptcy, insolvency, reorganization, winding up or composition or adjustment of its debts and no such petition, case or proceeding has been filed against it
which has not 

  
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been dismissed, vacated or stayed on appeal and Seller has not been adjudicated as a bankrupt or insolvent or consented to, nor filed an answer admitting or failing reasonably to contest an
allegation of bankruptcy or insolvency. Seller has not sought, or consented to or acquiesced in, the appointment of any receiver, trustee, liquidator or other custodian of it or a material part of its assets, and Seller has not made or taken any
action to make a general assignment for the benefit of creditors or an arrangement, attachment or execution has been levied and no tax lien or other governmental or similar lien has been filed, against it or a material part of its properties, which
has not been duly and fully discharged prior to the date hereof. 
 5.1.15 Labor and Employment Matters. Seller is
not a party to any collective bargaining agreement or relationship with any labor union that affects the Assets. 
 5.1.16
Construction Contracts. There are no outstanding contracts made by Seller for the construction or repair of any Improvements, and Seller shall discharge and have released of record or bonded all mechanic’s, builder’s or
materialman’s liens, if any, arising from any labor or materials furnished to any portion of the Property prior to the Closing to the extent any such lien is not bonded over pursuant to Applicable Law. 

5.1.17 Insurance Policies. Seller has not received written notice from any insurance carrier of defects or inadequacies
in the Assets which, if uncorrected, would result in a termination of insurance coverage or a material increase in the premiums charged therefor. Seller shall maintain uninterrupted insurance coverage through the Closing Date. 

5.1.18 Environmental Condition of Property. To Seller’s Knowledge, there are no underground storage tanks on the
Property and the Property does not contain any Hazardous Materials (other than any Hazardous Materials situated at the Property in the Ordinary Course of Business or the ordinary course of business of any tenant or other occupant of the Property
which are stored, held, used and disposed of in compliance with Environmental Laws) and there are no Environmental Claims, Environmental Liabilities or violations of Environmental Laws in respect of the Property. 

5.1.19 Management Agreements. As of the Closing Date, there will be no management agreements with respect to the
Assets, other than those approved in writing by Purchaser prior to Closing. Seller’s existing management agreement for the Assets shall be terminated by Seller effective as of the Closing Date. 

5.1.20 Compliance with Of-Record Matters. Seller has not received, nor given, any written notice, nor does Seller have
any knowledge, of any material violation of any easement, restriction, covenant, declaration or other matter of record which has not been cured or dismissed and there exists no breach or default with respect to any such matter. 

5.1.21 Finders and Investment Brokers. Other than Holliday Fenoglio Fowler, Seller has not dealt with any Person who
has acted, directly or indirectly, as a broker, finder, financial adviser or in such other capacity for or on behalf of Seller in connection with the transactions contemplated by this Agreement in a manner which would entitle such Person to any fee
or commission in connection with this Agreement or the transactions contemplated by this Agreement. Seller shall be solely responsible for all amounts owing to Holliday Fenoglio Fowler with respect to this transaction. 

  
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 5.1.22 Foreign Person. Seller is a “United States person” (as
defined in Section 7701(a)(30)(B) or (C) of the Code) for the purposes of the provisions of Section 1445(a) of the Code. 

5.1.23 Financial Statements. The profit and loss statements for the Property which were provided to Purchaser:
(i) are true and complete copies of the profit and loss statements for such periods prepared by Seller in the ordinary course of its business operations with respect to the Property; (ii) have been prepared using an accrual method of
accounting; and (iii) present fairly, in all material respects, the operation results of the Property for the periods covered by such income statements, subject to standard year-end adjustments for any year to date income statements and
financial notes and qualifications to such statements. No later than five (5) Business Days prior to Closing, Seller will deliver to Purchaser then-current profit and loss statements for the Property. 

5.1.24 ERISA. Neither (i) any assets of Seller, nor (ii) any funds to be used by Seller with respect to the
transactions contemplated pursuant to this Agreement, are, or at the Closing will be, pursuant to ERISA or the Code, considered for any purpose of ERISA or Section 4975 of the Code to be assets of a Plan. Seller is not executing this Agreement
and will not be performing its obligations or exercising its rights or remedies under the Agreement on behalf of or for the benefit of any Plan. For the purposes hereof the following terms shall have the following meanings:
“Code” shall mean the Internal Revenue Code of 1986, as amended; “ERISA” shall mean the Employee Retirement Income Security Act of 1974, as amended (and any successor statute and any applicable
regulations or guidance promulgated thereunder); and “Plan” shall mean a “plan” as that term is defined in Section 3(3) of ERISA or Section 4975 of the Code. 

5.1.25 Intellectual Property. To Seller’s Knowledge, Seller does not own, license or control any Intellectual
Property in connection with the Property, including without limitation the name “Overland Park Medical Office Building”. Seller has not received written notification of any claims or actions by any party disputing or challenging
Seller’s right to use the name “Overland Park Medical Office Building” or any variation thereof. 
 5.1.26
Prohibited Persons and Transactions. Purchaser is currently in compliance with and shall at all times during the term of this Agreement (including any extension thereof) remain in compliance with the regulations of Office of Foreign Assets
Control (“OFAC”) (including those named on OFAC’s Specially Designated Nationals and Blocked Persons List) and any statute, executive order (including the September 24, 2001, Executive Order Blocking Property and
Prohibiting Transactions with Persons Who Commit, Threaten to Commit, or Support Terrorism), or other governmental action relating thereto. 

  
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 5.1.27 Restriction of Access. Seller has no knowledge of any current
federal, state, county or municipal plans to materially restrict or materially change access to any part of the Property from any highway or road leading directly to or abutting any part of the Property. 

5.2 Purchaser’s Representations and Warranties. To induce Seller to enter into this
Agreement and to consummate the transactions described in this Agreement, Purchaser hereby makes the representations and warranties in this Section 5.2, upon which Purchaser acknowledges and agrees that Seller are entitled to rely, and
as of Closing shall provide a certificate reconfirming that all such representations and warranties remain true and correct as of the Closing Date, except as updated in accordance with Section 13.20. 

5.2.1 Organization and Power. Purchaser is duly incorporated or formed (as the case may be), validly existing and in
good standing in the laws of the jurisdiction of its incorporation or formation, and has all requisite power and authority to own, lease and operate its properties and to carry on its business as currently being conducted. 

5.2.2 Authority and Binding Obligation. Purchaser has full power and authority to execute and deliver this Agreement
and to perform all obligations of Purchaser arising under this Agreement. Subject to Purchaser obtaining approval from its Board of Directors during the Inspection Period, Purchaser has full power and authority to execute and deliver all other
documents to be executed and delivered by Purchaser pursuant to this Agreement (the “Purchaser’s Documents”), and to perform all obligations of Purchaser arising under each of Purchaser’s Documents. The execution
and delivery by the signer on behalf of Purchaser of this Agreement and, when executed and delivered, each of Purchaser’s Documents, and the performance by Purchaser of its obligations under this Agreement, and when executed and delivered, each
of Purchaser’s Documents, has been, or will be, duly and validly authorized by all necessary actions by Purchaser. This Agreement and, when executed and delivered, each of Purchaser’s Documents, constitutes, or will constitute, legal,
valid and binding obligations of Purchaser, enforceable against Purchaser in accordance with its and their terms, except to the extent Seller is in default thereunder. Unless Purchaser terminates this Agreement prior to the end of the Inspection
Period as provided for herein, following the expiration of the Inspection Period, Purchaser shall be deemed to have represented that it has obtained all necessary Board approvals. 

5.2.3 Consents and Approvals; No Conflicts. No filing with, and no permit, authorization, consent or approval of, any
Governmental Authority or other Person is necessary for the execution or delivery by Purchaser of this Agreement or the performance by Purchaser of any of its obligations under this Agreement. Other than Purchaser’s Board of Director approval
referenced in Section 5.2.2. above, no filing with, and no permit, authorization, consent or approval of, any Governmental Authority or other Person is necessary for the execution or delivery by Purchaser of any of Purchaser’s
Documents, the performance by Purchaser of any of its obligations under any of Purchaser’s Documents, or the consummation by Purchaser of the transactions contemplated by this Agreement or any of Purchaser’s Documents. Upon receipt of
Board of Director approval by Purchaser, neither the execution and delivery by Purchaser 

  
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of any of Purchaser’s Documents, nor the performance by Purchaser of any of its obligations under any of Purchaser’s Documents, nor the consummation by Purchaser of the transactions
described in this Agreement, will: (A) violate any provision of the organizational or governing documents of Purchaser; (B) violate any Applicable Law to which Purchaser is subject; or (C) result in a violation or breach of or
constitute a default under any contract, agreement or other instrument or obligation to which Purchaser is a party or by which any of Purchaser’s properties are subject. Unless Purchaser terminates this Agreement prior to the end of the
Inspection Period as provided for herein, following the expiration of the Inspection Period, Purchaser shall be deemed to have represented that it has obtained all necessary Board approvals. 

5.2.4 Finders and Investment Brokers. Purchaser has not dealt with any Person who has acted, directly or indirectly, as
a broker, finder, financial adviser or in such other capacity for or on behalf of Purchaser in connection with the transactions described by this Agreement in any manner which would entitle such Person to any fee or commission in connection with
this Agreement or the transactions described in this Agreement. 
 5.2.5 Prohibited Persons and Transactions.
Purchaser is currently in compliance with and shall at all times during the term of this Agreement (including any extension thereof) remain in compliance with the regulations of OFAC (including those named on OFAC’s Specially Designated
Nationals and Blocked Persons List) and any statute, executive order (including the September 24, 2001, Executive Order Blocking Property and Prohibiting Transactions with Persons Who Commit, Threaten to Commit, or Support Terrorism), or other
governmental action relating thereto. 
 6. COVENANTS 

6.1 Confidentiality. 

6.1.1 Disclosure of Confidential Information. The Parties acknowledge and agree that the existence of this Agreement,
the terms of this Agreement and any other information disclosed in Seller’s Due Diligence Materials, Purchaser’s Due Diligence Reports or any other documents, materials, data or other information with respect to the Assets which is not
generally known to the public shall be confidential except to the extent already within the public domain or as otherwise required by Applicable Law (including but not limited to in connection with public disclosure obligations required by the
United States Securities and Exchange Commission). Notwithstanding the foregoing, Purchaser may reveal and deliver Seller’s Due Diligence Materials, Purchaser’s Due Diligence Reports, and all other documents, information, and materials
concerning the Property to its agents, representatives, lenders, investors, principals, and Affiliates. Nothing herein shall restrict or limit Seller or Purchaser from communicating with tenants, lenders, contract parties, owners associations, or
government officials or bodies in connection with obtaining estoppels or other required consents or approvals, as may be reasonably necessary to consummate the transactions contemplated under this Agreement, or Purchaser from contacting
Seller’s company officials, property engineers and architects, and other third-party consultants assisting Purchaser in its investigation of the Assets, subject to Section 6.1.3. Nothing herein shall restrict Purchaser from

  
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communicating the existence and progress of the transactions contemplated by this Agreement to its agents, representatives, potential managers, lenders, investors, principals or affiliates.
Nothing herein shall restrict or limit Seller from communicating the existence and progress of the transactions contemplated by this Agreement to their lenders. 

6.1.2 Public Announcements. Prior to Closing, no Party shall have the right to make a public announcement regarding the
transactions described in this Agreement without the prior approval of the other Party. Seller and Purchaser shall approve the timing, form and substance of any such public announcement, which approval shall not be unreasonably withheld, conditioned
or delayed, except if a Party is required to make a public announcement under Applicable Law, in which case no such approval by any other Party shall be required. Following Closing, each Party shall have the right to make a public announcement
regarding the transactions described in this Agreement without the necessity of approval by the other Party. 
 6.1.3
Communication with Governmental Authorities. Purchaser and its representatives and consultants shall have the right to review building department, health department and other local Governmental Authority records with respect to the Assets and
the operation of the Property and request written or verbal confirmation of zoning and any other compliance by the Assets with any Applicable Law. Purchaser and its representatives and consultants shall have the right to contact Governmental
Authorities to pursue the issuance of any Licenses and Permits desired by Purchaser. 
 6.2
Assessments. Any assessments by any Governmental Authority or as a result of any bonds for improvements or other work at any portion of the Property that pertain to the period prior to Closing shall be the responsibility of and paid by
Seller, but if assessed in installments, only to the extent relating to the period prior to Closing, and Seller shall indemnify, save, insure, pay, defend and hold Purchaser harmless from and against any claims therefor any Liability arising
therefrom. Any assessments by any Governmental Authority or as a result of any bonds for improvements or other work at any portion of the Property that pertain to the period on and after the Closing shall be the responsibility of and paid by
Purchaser, but if assessed in installments, only to the extent relating to the period on or after the Closing, and Purchaser shall indemnify, save, insure, pay, defend and hold Seller harmless from and against any claims therefor any Liability
arising therefrom. The obligations under this Section 6.2 shall survive Closing. 
 6.3
Conduct of the Operations of the Property. 
 6.3.1 Operation, Maintenance and Repair in Ordinary Course of
Business. From the Effective Date until Closing or earlier termination of this Agreement, Seller shall conduct the operations of the Property in the Ordinary Course of Business including, without limitation, (i) performing maintenance and
repairs to the Property in the Ordinary Course of Business provided, that Seller shall have no obligation to make any capital improvement (unless required pursuant to the terms of a Tenant Lease); and (ii) maintaining insurance coverage
consistent with Seller’s risk management policies in place as of the date hereof; and (iii) replacing and/or repairing Personal Property in the 

  
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Ordinary Course of Business. Seller shall maintain the Assets in accordance with the Ordinary Course of Business (such obligation to include the maintenance of Seller’s casualty and
liability insurance policies in the Ordinary Course of Business), subject to reasonable wear and tear and further subject to destruction by casualty or eminent domain provided, that Seller shall have no obligation to make any capital improvement
(unless required pursuant to the terms of a Tenant Lease). Purchaser shall have the right to inspect the Assets prior to Closing to determine if any Seller has breached the covenants of such Seller in this Section 6.3.1. Seller in all
material respects shall comply with the terms conditions and requirements under the Facility Contracts, Tenant Leases, and Licenses and Permits, and shall continue to make all payments due thereunder prior to delinquency (whether or not Purchaser
shall assume the same). Seller shall not sell, remove or otherwise dispose of any Assets other than in the Ordinary Course of Business. 

6.3.2 Facility Contracts, Tenant Leases and Licenses and Permits. From the expiration of the Inspection Period until
Closing or earlier termination of this Agreement, Seller shall not, (i) without Purchaser’s prior written consent, which shall not be unreasonably withheld, conditioned or delayed, amend, extend, renew or terminate any of the existing
Facility Contracts, Tenant Leases or Licenses and Permits except in the Ordinary Course of Business, or (ii) without Purchaser’s prior written consent in its sole discretion procure any new contract that will be binding on Seller or the
Property after the Closing, Tenant Leases or licenses and permits, except, in each instance, in the Ordinary Course of Business, or in the event that Seller is required to act on an emergency basis to enter into any such contract to prevent material
damages to the Assets or the operation of the Property. Notwithstanding the foregoing, from the Effective Date until the Closing or earlier termination of this Agreement, should Seller enter into any amendment, extension, renewal or termination of
any of the existing Facility Contracts, Tenant Leases or Licenses and Permits or enter into any new contracts, tenant leases or licenses and permits, whether or not in the Ordinary Course of Business, without Purchaser’s prior written consent,
or should Seller become aware of any contracts or licenses and permits that were not previously disclosed to Purchaser, Seller shall immediately disclose the same to Purchaser in writing, and Purchaser shall have the right take an assignment of such
new, amended, extended or renewed contracts, tenant leases and licenses and permits at Closing pursuant to the terms of this Agreement. If Purchaser elects not to take an assignment of any such new, amended, extended or renewed contract, tenant
lease, license, or permit, such contract, tenant lease, license or permit shall be deemed a Retained Liability of Seller. 

6.3.3 Title. From the Effective Date until the Closing or earlier termination of this Agreement, Seller shall not
intentionally through any act or omission create any Title Exception which materially or adversely affects any portion of the Property. 
 
6.4 Tax Contests. 
 6.4.1 Taxable Period Terminating Prior to Closing Date. Seller shall retain
the right, at its sole cost and expense, to commence, continue and settle any proceeding to contest any Taxes for any taxable period which terminates prior to the Closing Date, and shall be entitled to any refunds or abatements of Taxes awarded in
such proceedings; 

  
 27 

 
provided, however, Seller shall indemnify and hold Purchaser harmless from and against any Indemnification Loss incurred by Purchaser as a result of any Seller exercising its rights to so contest
any Taxes under this Section 6.4.1. This Section 6.4.1 shall survive the Closing. 
 6.4.2
Taxable Period Including the Closing Date. Seller shall have the right to commence, continue and settle any proceeding to contest any Taxes for any taxable period which includes the Closing Date. Notwithstanding the foregoing, if Purchaser
desires to contest any Taxes for such taxable period and Seller has not commenced any proceeding or process to contest any such Taxes for such taxable period, Purchaser, may request Seller to do so (but Seller shall have no obligation to do so). If
Seller desires to contest such Taxes, Seller shall provide written notice to Purchaser within ten (10) days after receipt of Purchaser’s request confirming that Seller will contest such Taxes, in which case Seller shall proceed to contest
such Taxes, and Purchaser shall not have the right to contest such Taxes. If Seller fails to provide such written notice confirming that Seller will contest such Taxes within such ten (10) day period, Purchaser shall have the right to contest
such Taxes, at Purchaser’s sole cost and expense, and Seller shall reasonably cooperate with respect to any such contest made by Purchaser. Any refunds or abatements awarded in such proceedings shall be used first to reimburse the Party
contesting such Taxes for the reasonable costs and expenses incurred by such Party in contesting such Taxes, and the remainder of such refunds or abatements shall be prorated between Seller and Purchaser (subject to the terms of the Tenant Leases)
as of the Closing Date, and the Party receiving such refunds or abatements promptly shall pay such prorated amount due to the other Party. This Section 6.4.2 shall survive the Closing. 

6.4.3 Cooperation. Seller and Purchaser shall use commercially reasonable efforts to cooperate with the Party
contesting the Taxes (at no cost or expense to the Party not contesting the Taxes other than any de minimis cost or expense or any cost or expense which the requesting Party agrees in writing to reimburse) and to execute and deliver any
documents and instruments reasonably requested by the Party contesting the Taxes in furtherance of the contest of such Taxes. This Section 6.4.3 shall survive the Closing. 

6.5 Notices and Filings. Seller and Purchaser shall use commercially reasonable efforts to
cooperate with each other (at no cost or expense to the Party whose cooperation is requested, other than any de minimis cost or expense or any cost or expense which the requesting Party agrees in writing to reimburse) to provide written notice to
any Person under any Facility Contracts, the Ground Lease, Tenant Leases, or Licenses and Permits and to effect any required registrations or filings with any Governmental Authority or other Person, regarding the change in ownership of the Assets.

 6.6 Further Assurances. From the Effective Date until the Closing or termination of
this Agreement, Seller and Purchaser shall use commercially reasonable efforts to take, or cause to be taken, all actions and to do, or cause to be done, all things necessary, proper or advisable to consummate the transactions described in this
Agreement, including, without limitation, (i) obtaining all necessary consents, approvals and authorizations required to be obtained from any Governmental Authority or other Person under this Agreement or Applicable Law, and (ii) effecting
all registrations and filings required under this Agreement or Applicable Law. After 

  
 28 

 
Closing, Seller and Purchaser shall use commercially reasonable efforts (at no cost or expense to such Party, other than any de minimis cost or expense or any cost or expense which the
requesting Party agrees in writing to reimburse) to further effect the transactions contemplated in this Agreement. 
 
6.7 Estoppel Certificates/SNDA. Seller shall use commercially reasonable efforts to obtain estoppel certificates (the “Third-Party Estoppels”) and deliver the same to Purchaser at least three
(3) Business Days prior to the Closing Date from, the following (collectively, the “Required Third-Party Estoppels”): (i) tenant estoppels from Mid-America Surgery Institute, LLC, a Kansas limited liability company,
and Women’s Clinic of Johnson County, Inc., a Kansas corporation (collectively, “Major Tenants”), for their respective Tenant Leases at the MOB; and (ii) a landlord estoppel from Ground Lessor. Seller shall
additionally use good faith efforts to obtain prior to Closing tenant estoppels from all other tenants at the MOB and Third-Party Estoppels from any other third party reasonably required by Purchaser as a result of its due diligence regarding the
Assets. Seller shall also use commercially reasonable efforts to obtain and deliver to Purchaser at least three (3) Business Days prior to the Closing Date subordination, non-disturbance and attornment agreements from the Major Tenants (the
“SNDAs”). Additionally, Seller shall use good faith efforts to obtain and deliver to Purchaser prior to Closing subordination, non-disturbance and attornment agreements from all other tenants at the MOB. The forms of all
tenant estoppels and subordination, non-disturbance and attornment agreements required pursuant to this Section shall be as reasonably required by Purchaser’s lender, subject to the terms of the Ground Lease and Tenant Leases, as applicable,
and Purchaser shall use commercially reasonable efforts to provide the forms to Seller within fifteen (15) days of the Effective Date. Seller acknowledges that if required by the Title Company, Purchaser’s draft of the landlord estoppel
from Ground Lessor may include a written waiver of the ROFR but Seller does not warrant or agree that any such written waiver will be approved by Ground Lessor. Seller further agrees that Purchaser’s draft tenant estoppel from Mid-America
Surgery Institute, LLC may include language which grants a royalty and cost-free license to Purchaser (or its assignee) for the use of the name “Mid America Surgery Institute” in marketing materials, U.S. Securities and Exchange Commission
filings, and other similar public notices and filings, but Seller does not warrant or agree that any such license will be approved by Mid-America Surgery Institute, LLC. In no event shall Seller be in default hereunder for its failure to obtain any
or all of the Third-Party Estoppels or SNDAs (so long as Seller used commercially reasonable efforts to obtain such Third-Party Estoppels or SNDAs), but the delivery of Third-Party Estoppels and SNDAs from the Major Tenants shall be a condition
precedent to Purchaser’s obligation (which may be waived by Purchaser in writing specifically waiving such requirement) to acquire the Assets. If, after using commercially reasonable efforts, Seller cannot cause the Major Tenants to execute
Third-Party Estoppels and SNDAs reasonably acceptable to Purchaser and acceptable to Purchaser’s lender at least three (3) Business Days prior to the Closing Date, Seller may extend the Closing Date for up to thirty (30) days to allow
Seller additional time to obtain Third-Party Estoppels and SNDAs from such Major Tenants. If Seller cannot cause such Major Tenants and Ground Lessor to execute Third-Party Estoppels and SNDAs at least three (3) Business Days prior to the
Closing Date (as the same may have been extended pursuant to the previous sentence), Purchaser shall have the right to either (i) terminate this Agreement by delivering written notice to Seller of its election of the same, or (ii) proceed
to the Closing notwithstanding Seller’s failure to deliver the missing Third-Party Estoppels and SNDAs, in which event Seller shall provide an estoppel certificate for any Tenant Lease for 

  
 29 

 
which Seller failed to obtain an executed Third-Party Estoppel. If Purchaser terminates this Agreement in accordance with the foregoing, the Deposit shall be promptly delivered to Purchaser, and,
provided that Seller used good faith, commercially reasonable efforts to comply with the terms of this Section, thereafter neither Party shall have any further rights or obligations hereunder, except as specifically provided in this Agreement. 

6.8 Exclusivity. Seller covenants and agrees to refrain during the term of this Agreement from
making, accepting, encouraging or soliciting or otherwise pursuing any other offer or proposal or agreement regarding the sale of the Assets or any portion thereof or any interest therein, and will deal exclusively with Purchaser in good faith
toward the completion of the transaction contemplated herein unless this Agreement shall be terminated as provided herein. 
 
6.9 Bulk Sales. Seller, at no expense to Purchaser, shall comply with all applicable “bulk sales laws” in a timely manner, taking into account the timing of the Closing. 

6.10 Employees. At Closing, Seller shall terminate all of its Employees. With respect to wages
and benefits of Employees, Seller shall be solely responsible for all wages, salaries, bonuses, employment taxes, withholding taxes, and all accrued vacation days, sick days and personal days accruing prior to the Closing Date in its capacity as
Seller. Purchaser shall never be or be deemed the employer of any Employee and shall not be liable to any Employee for any wages, salaries, bonuses, vacation days, sick days or personal days in which said Employee may have acquired an accrued or
vested right by virtue of their employment. Seller shall and hereby agree to indemnify, save, defend, pay, insure and hold Purchaser harmless from and against any Liability for wages, salaries, bonuses, accrued vacation days, sick days and personal
days to be paid to Employees. Seller shall remain liable for and hereby agree to indemnify, save, defend, pay, insure and hold Purchaser harmless from and against any Liability arising out of or relating to medical, pension, welfare benefits, other
employee benefits or other fringe benefits (hereinafter collectively referred to as “benefits”) due to Employees under plans in which employees of Seller participate whether prior to or after Closing, and all payments due on the plans
providing such benefits. Seller shall also remain responsible for and hereby agrees to indemnify, save, defend, pay, insure and hold Purchaser harmless from and against any loss, cost, damage, claims, expense or Liability arising out of or relating
to any Seller’s failure to pay (a) any Employee of Seller’s wages, salary, bonuses, employment taxes, accrued vacation pay, sick days and personal days, and withholding taxes, (b) benefits, whenever due, provided under plans in
which Employees of Seller participate, (c) liability under Section 4980B, Part 6 of Title I of ERISA or Title IV of ERISA and (d) liability under the WARN Act. 

6.11 Post-Closing Audit. If requested by Purchaser, and to the extent required by any
Applicable Law, regulations and statutes governing Purchaser or any of its investors, partners or members, Seller acknowledges and agrees to assist Purchaser in conducting, no later than seventy-five (75) days following the Closing Date, an
audit of property-level financials for the Property as specified by Rule 3-05 of Regulation S-X of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended, provided such audit shall be at the sole cost and expense
of Purchaser. In connection therewith, Seller agrees to provide to the auditors any and all data and financial information in the possession of Seller which are reasonably necessary or required by the auditors in connection with their preparation
and conducting of the foregoing audit. The rights and obligations of Purchaser and Seller under this Section 6.11 shall survive Closing. 

  
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 6.12 Non-Solicitation. Seller, on behalf of itself
and its Affiliates and Subsidiaries, agrees that Seller and its Affiliates and Subsidiaries, shall not directly or indirectly solicit, divert or accept business from any tenant under any of the Tenant Leases, prospective tenant of the MOB, or
otherwise interfere with the relationship between Purchaser or any Affiliate of Purchaser and any tenant or prospective tenant of any portion of the Real Property. Notwithstanding the foregoing, general public advertisements by Seller or its
Subsidiaries or its Affiliates shall not be deemed a violation or breach of this Section 6.12. The Parties recognize and acknowledge that a breach of this Section 6.12 by Seller or any of its Subsidiaries will cause
irreparable and material loss and damage to Purchaser and hereby consent to the granting by any court of competent jurisdiction of an injunction or other equitable relief, without the necessity of posting a bond, cash or otherwise, and without the
necessity of actual monetary loss being proved or Purchaser’s establishing the inadequacy of any remedy at law, and order that the breach or threatened breach of such provisions may be effectively restrained. The provisions of this
Section 6.12 shall expressly survive the Closing and shall terminate on the third (3rd) anniversary of the Closing Date. 

7. CLOSING CONDITIONS 

7.1 Purchaser’s Closing Conditions. Purchaser’s obligations to close the transactions
described in this Agreement are subject to the satisfaction at or prior to Closing (or such other time as specified below) of the following conditions precedent (the “Purchaser’s Closing Conditions”): 

7.1.1 Seller’s Closing Deliveries. All of the Seller’s Closing Deliveries shall have been delivered to
Purchaser or deposited with Escrow Agent in the Closing Escrow, to be delivered to Purchaser at the Closing. 
 7.1.2
Representations and Warranties. The representations and warranties of Seller in this Agreement shall be true and correct in all material respects as of the Closing (or as such other date to which such representation and warranties expressly
were made). 
 7.1.3 Covenants and Obligations. The covenants and obligations of Seller in this Agreement shall have
been performed in all material respects. 
 7.1.4 Title Policy. The Title Company shall have irrevocably committed to
issue the Title Policy pursuant to Section 4.2.4 with all standard exceptions deleted, all requirements for issuance of each such Title Policy satisfied and deleted, with all endorsements reasonably required by Purchaser. 

7.1.5 Change in Environmental Condition of Property. No event shall have occurred following the Effective Date and
prior to the Closing Date which would result in a violation of any Environmental Law. 
 7.1.6 Adverse Proceedings.
No litigation or other court action shall have been commenced seeking to obtain an injunction or other relief from such court to enjoin the 

  
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consummation of the transactions described in this Agreement, and no preliminary or permanent injunction or other order, decree or ruling shall have been issued by a court of competent
jurisdiction or by any Governmental Authority, would make illegal or invalid or otherwise prevent the consummation of the transactions described in this Agreement. 

7.1.7 Adverse Law. No Applicable Law shall have been enacted that would make illegal or invalid or otherwise prevent
the consummation of the transactions described in this Agreement. 
 7.1.8 Estoppel Certificates/SNDAs. Seller shall
have delivered or caused to be delivered all executed Required Third-Party Estoppels and SNDAs as required by Section 6.7 hereof. 

7.1.9 Ground Lessor Actions. Ground Lessor shall have consented in writing to the assignment of the Ground Lease by
Seller to Purchaser (which consent shall be in a form reasonably approved by Purchaser). Additionally, prior the expiration of the Inspection Period, Seller shall have obtained from Ground Lessor and Las Encinas Hospital, a California corporation, a
written waiver of the ROFR or said parties shall be deemed to have waived the ROFR pursuant to the terms thereof. 
 
7.2 Failure of Any Purchaser’s Closing Condition. Subject to Section 6.7, any of Purchaser’s Closing Conditions is not satisfied at Closing (a “Purchaser’s Closing Condition
Failure”), and Seller fails to cure such condition failure within five (5) days after written notice is delivered by Purchaser to Seller (excepting a failure to deliver Seller’s Closing Deliveries at Closing for which there
shall be no notice or cure period) then Purchaser shall have the right (unless such Purchaser’s Closing Condition Failure was within the discretion or control of Purchaser), in Purchaser’s absolute discretion, to either (i) terminate
this Agreement by providing written notice to Seller, in which case the Deposit shall be refunded to Purchaser in accordance with Section 3.2.4, and the Parties shall have no further rights or obligations under this Agreement, except as
set forth herein below and except with respect to those which expressly survive such termination, or (ii) waive the Purchaser’s Closing Condition and complete the transactions set out herein, in which event Seller shall have no liability
for any Purchaser’s Closing Condition Failure. If Purchaser terminates this Agreement pursuant to clause (i) above and if such termination is by reason of a Purchaser’s Closing Condition Failure (other than Sections 7.1.4,
7.1.5, 7.1.6, 7.1.7, 7.1.8, or 7.1.9 (provided Seller shall have used commercially reasonable efforts to cause the satisfaction of such Purchaser’s Closing Conditions), then Seller shall reimburse Purchaser
for all reasonable out-of-pocket expenses incurred by Purchaser in connection with the transactions contemplated by this Agreement (not to exceed $60,000) within fifteen (15) days following the termination date. 

7.3 Seller’s Closing Conditions. Seller’s obligations to close the
transactions contemplated in this Agreement are subject to the satisfaction at or prior to Closing of the following conditions precedent, as applicable (the “Seller’s Closing Conditions”): 

7.3.1 Receipt of the Purchase Price. Purchaser shall have (i) paid to Seller or deposited with Escrow Agent with
irrevocable written direction to disburse the same to Seller, the Purchase Price (as allocated, and as adjusted for prorations pursuant to Article 9) and (ii) delivered irrevocable written direction to Escrow Agent to disburse the
Deposit to Seller. 

  
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 7.3.2 Purchaser’s Closing Deliveries. All of Purchaser’s Closing
Deliveries shall have been delivered to Seller or deposited with Escrow Agent in the Closing Escrow, to be delivered to the Seller at the Closing. 

7.3.3 Representations and Warranties. The representations and warranties of Purchaser in this Agreement shall be true
and correct in all material respects as of the Closing (or as of such other date to which such representation or warranty expressly is made). 

7.3.4 Covenants and Obligations. The applicable covenants and obligations of Purchaser in this Agreement shall have
been performed in all material respects. 
 7.3.5 Adverse Proceedings. No litigation or other court action shall have
been commenced by a third-party seeking to obtain an injunction or other relief from such court to enjoin the consummation of the transactions described in this Agreement, and no preliminary or permanent injunction or other order, decree or ruling
shall have been issued by a court of competent jurisdiction or by any Governmental Authority, would make illegal or invalid or otherwise prevent the consummation of the transactions described in this Agreement. 

7.3.6 Adverse Law. No Applicable Law shall have been enacted that would make illegal or invalid or otherwise prevent
the consummation of the transactions described in this Agreement. 
 7.3.7 Ground Lessor Actions. Ground Lessor shall
have consented in writing to the assignment of the Ground Lease by Seller to Purchaser (which consent shall be in a form reasonably approved by Purchaser). Additionally, prior the expiration of the Inspection Period, Ground Lessor and Las Encinas
Hospital, a California corporation, shall have provided a written waiver of, or be deemed to have waived, the ROFR. 
 
7.4 Failure of Seller’s Closing Conditions. If any of Seller’s Closing Conditions is not satisfied at Closing (a “Seller’s Closing Condition Failure”), and Purchaser fails to cure such
condition failure within five (5) days after written notice from Seller to Purchaser of such failure (excepting a failure to deliver the Purchase Price or Purchaser Closing Deliveries at Closing for which there shall be no cure period) then
Seller shall have the right, in Seller’s absolute discretion (unless such Seller’s Closing Condition Failure was within the discretion or control of Seller), to either (i) terminate this Agreement by providing written notice to
Purchaser, in which case the Deposit shall be disbursed to Seller in accordance with Section 3.2.5 (unless such termination is as a result of Seller’s Closing Condition under Sections 7.3.5 or 7.3.6 (provided Purchaser
shall have used commercially reasonable efforts to cause the satisfaction of such Seller’s Closing Condition), in which case the Deposit shall be returned to Purchaser) and the Parties shall have no further rights or obligations under this
Agreement, except those which expressly survive the termination, or (ii) complete the transactions set out herein, without prejudice to any right or remedy of Seller. 

  
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 8. CLOSING 

8.1 Closing Date. If both Purchaser’s Closing Conditions and Seller’s Closing
Conditions have been satisfied pursuant to Article 7, and subject to any Purchaser’s or Seller’s extension rights as set forth in this Agreement, the closing of the transactions described in this Agreement (the
“Closing”) shall occur on the date which is fifteen (15) days following the expiration of the Inspection Period. The Parties shall accomplish the Closing “by mail” with Escrow Agent (the “Closing
Escrow”). 
 8.2 Closing Escrow. In connection with closing this transaction via
a Closing Escrow, prior to or at the Closing, the Parties may enter into any supplemental escrow instructions as may be desired by Seller, Purchaser and Escrow Agent with respect to the Closing Escrow in form and substance reasonably acceptable to
Seller, Purchaser and the Escrow Agent (together, the “Closing Escrow Agreement”) which shall not in any event be in contravention of the terms and conditions of this Agreement. The Closing Escrow Agreement shall provide that
(a) the Purchase Price to be paid by Purchaser pursuant to Section 3.3 shall be deposited with Escrow Agent, (b) all of the documents required to be delivered by Seller and Purchaser at Closing pursuant to this Agreement shall
be deposited with Escrow Agent, and (c) at Closing, the Purchase Price (as adjusted pursuant to Article 9) and the Deposit shall be disbursed to Seller and the documents deposited into the Closing Escrow shall be delivered to Seller and
Purchaser (as the case may be) pursuant to the Closing Escrow Agreement. 
 8.3 Seller’s Closing
Deliveries. At Closing, Seller shall deliver or cause to be delivered to Purchaser, or deposited with Escrow Agent in the Closing Escrow to be delivered to Purchaser at Closing, or (with the approval of Purchaser, acting reasonably)
otherwise to be delivered or made available to Purchaser upon Closing, all of the following documents, each of which shall have been duly executed by the Seller and acknowledged (if required), and other items, set forth in this
Section 8.3 (the “Seller’s Closing Deliveries”), as follows: 
 8.3.1 Closing
Certificate. A closing certificate substantially in the form attached hereto as Exhibit 8.3.1. 
 8.3.2 Deed.
A special warranty deed (the “Deed”) with respect to the Improvements located on the Property (only) substantially in the form attached hereto as Exhibit 8.3.2, conveying all of such Improvements to Purchaser, free and
clear of all liens restrictions and encumbrances, subject only to Permitted Exceptions. 
 8.3.3 Bill of Sale. A Bill
of Sale with respect to the Property substantially in the form attached hereto as Exhibit 8.3.3, transferring the Fixtures, Personal Property, Plans and Specifications, Warranties, Intangible Assets, Books and Records and all other assets,
all other assets, rights, and interest of Seller in and to the Property, not constituting Excluded Assets to Purchaser. 

8.3.4 Assignment and Assumption of Ground Lease and Tenant Leases. For the Ground Lease, an Assignment and Assumption
of Ground Lease in substantially the form attached hereto as Exhibit 4.2.5 and for each of the Tenant Leases, an Assignment and Assumption of Tenant Leases in substantially the form attached hereto as Exhibit 8.3.4 transferring
Seller’s interest as landlord thereunder to Purchaser. 

  
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 8.3.5 Assignment and Assumption of Facility Contracts and Licenses and
Permits. An Assignment and Assumption of Facility Contracts and Licenses and Permits with respect to the Property substantially in the form attached hereto as Exhibit 8.3.5, assigning the Facility Contracts and Licenses and Permits to
Purchaser; 
 8.3.6 Assignment and Assumption of Intellectual Property. An Assignment and Assumption of Intellectual
Property with respect to the Property substantially in the form attached hereto as Exhibit 8.3.6 assigning the Intellectual Property to Purchaser. 

8.3.7 Title Requirements. Such agreements, affidavits or other documents as may be reasonably and customarily required
by the Title Company from Seller and reasonably approved by Seller to issue the Title Policy, including an affidavit from Seller in favor of the Title Company which shall be sufficient to delete the standard exceptions from the Title Policy.
Additionally, Seller agrees to use commercially reasonable efforts to obtain such other documents as may be required by the Title Company to issue a Title Policy without exception for the ROFR as to the sale and purchase contemplated by this
Agreement. 
 8.3.8 Other Declarations. Any transfer tax declarations or other documents required under Applicable
Law in connection with the conveyance of the Assets. 
 8.3.9 FIRPTA Certificates. An affidavit from Seller with
respect to compliance with the Foreign Investment in Real Property Tax Act (Internal Revenue Code Sec. 1445, as amended) and the regulations issued thereunder and any similar state tax requirements. 

8.3.10 Closing Statement. The Closing Statement prepared pursuant to Section 9.1. 

8.3.11 Authority Documents. Such resolutions, and incumbency certificates as required by the Title Company to evidence
the capacity and authority of any Person signing on behalf of Seller. 
 8.3.12 Tenant Notices. Executed written
notices, to be delivered post-Closing by Purchaser, from Seller to each tenant under the Tenant Leases advising such tenants of the transaction. 

8.3.13 Holdback Escrow Agreement. A Holdback Escrow Agreement substantially the form attached hereto as Exhibit
8.3.13 (the “Holdback Escrow Agreement”). 
 8.3.14 Possession and Keys. Possession of
the Property free and clear of all parties in possession, except tenants in possession pursuant to the Tenant Leases or as set forth in the Permitted Exceptions, and duplicates of or access information for all keys, codes and other security devices
relating to the Improvements and the Property in Seller’s possession or control. 

  
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 8.3.15 Property Related Deliveries. On the Closing Date,
(1) originals, or copies if originals are not available, of the Ground Lease and Tenant Leases; and (2) in addition, to the extent the foregoing have not heretofore been delivered to Purchaser, Seller shall cause to be delivered to
Purchaser: (i) any plans and specifications for the Improvements in Seller’s possession or control; (ii) all unexpired warranties and guarantees which Seller has received in connection with any work or services performed with respect
to, or equipment installed in, the Improvements; (iii) originals, or copies if originals are not available, of all Facility Contracts that will be assigned to Purchaser and remain in effect after Closing; (v) copies of all Licenses and
Permits that will be assigned to Purchaser; (vi) copies of all Books and Records, whether kept in paper or electronic form; (vii) duplicates of all keys and lock combinations relating to the Assets and (ix) copies of all other
materials necessary for the continuity of operations at the Property, together with all files, advertising and promotional information and materials. 

8.3.16 Other Documents. Such other documents and instruments as may be reasonably requested by Purchaser or the Title
Company in order to consummate the transactions described in this Agreement (provided, however, no such additional document shall expand any obligation, covenant, representation or warranty of Seller or result in any new or additional obligation,
covenant, representation or warranty of Seller under this Agreement beyond those expressly set forth in this Agreement). 
 
8.4 Purchaser’s Closing Deliveries. At Closing, Purchaser shall deliver or cause to be delivered to Seller or deposited with Escrow Agent in the Closing Escrow to be delivered to Seller all of the following, each of which, to
the extent applicable, shall have been duly executed by Purchaser and acknowledged (if required), and other items, set forth in this Section 8.4 (the “Purchaser’s Closing Deliveries”): 

8.4.1 Purchase Price. The Purchase Price (as adjusted for prorations pursuant to Article 9 and with respect to
the Deposit) in the form of immediately available funds delivered by wire transfer, to be paid by Purchaser. 
 8.4.2
Disbursement Letter. A letter of direction or email to Escrow Agent directing Escrow Agent to disburse the Deposit to Seller. 

8.4.3 Closing Certificate. A closing certificate substantially in the form attached hereto as Exhibit 8.4.3.

 8.4.4 Counterpart Execution Documents. A counterpart of each of the documents and instruments to be delivered by
Seller under Section 8.3 which require execution by Purchaser; 
 8.4.5 Other Documents. Such other
documents and instruments as may be reasonably requested by Seller or the Title Company in order to consummate the transactions described in this Agreement (provided, however, no such additional document shall expand any obligation, covenant,
representation or warranty of Purchaser or result in any new or additional obligation, covenant, representation or warranty of Purchaser under this Agreement beyond those expressly set forth in this Agreement). 

  
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 9. PRORATIONS AND EXPENSES 

9.1 Closing Statement. No later than the day prior to Closing, the Parties shall jointly
prepare or cause the Escrow Agent to prepare prior to Closing a closing statement (the “Closing Statement”), which shall set forth their best estimate of the amounts of the items to be adjusted and prorated under this
Agreement. The Closing Statement shall be approved and executed by the Parties at Closing, and such adjustments and Prorations shall be final with respect to the items set forth in the Closing Statement, except to the extent any such items shall be
re-prorated after the Closing as expressly set forth in Section 9.2. 
 9.2 Closing and
Other Costs, Adjustments and Prorations. The Closing costs shall be allocated and other closing adjustments and prorations made between Seller and Purchaser as follows: 

9.2.1 Seller Closing Costs. Seller shall be charged with the following items, all of which shall be paid by Seller at
the Closing, and if and only if the Closing occurs: (i) costs of removing any lien, assessment or encumbrance required to be discharged by Seller hereunder in order to convey the Leasehold Interests as herein provided, including, without
limitation, any prepayment penalties, defeasance costs, or fees incurred in connection therewith; (ii) legal fees and expenses of Seller; (iii) one-half (1/2) of the Closing fees charged by the Title Company; (iv) the cost of any
title premiums, fees, and expenses charged by the Title Company for issuance of the Title Commitment and Title Policy; and (v) such other costs as are typically borne by a seller in the jurisdiction where the Property are located. 

9.2.2 Purchaser Closing Costs. Purchaser shall be charged with the following items in addition to the Purchase Price
payable to Seller at Closing: (i) fees and expenses of Purchaser’s counsel; (ii) Purchaser’s third-party inspection, review and other acquisition costs, including, but not limited to, appraisal, survey, environmental assessment,
and property condition assessments; (iii) the costs or premiums charged by the Title Company to issue any endorsements to the Title Policy or to upgrade the Title Policy for extended coverage which Purchaser may request; (iv) one-half
(1/2) of the Closing fees charged by the Title Company; (v) all recording fees for the recording of the Deed and Assignment and Assumption of Ground Lease; (vi) any mortgage tax, title insurance fees and expenses for any loan title
insurance policies, recording charges or other amounts payable in connection with any new financing obtained by Purchaser; and (vii) such other costs as are typically borne by purchasers in the jurisdiction where the Property are located. 

9.2.3 Assessments and Roll-Back Taxes. Certified, confirmed and ratified special assessments liens due and payable
before the Closing Date that relate solely to period prior to the Closing Date are to be paid by Seller. Seller shall also pay and be responsible for any “rollback” taxes or retroactively assessed taxes which arise out of or relate to any
prior use of the Property by Seller. All other special assessment liens due and payable on or after the Closing Date shall be paid by Purchaser. 

  
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 9.2.4 Proration of Income and Expenses. All income and expenses (including
prepaid expenses) with respect to the Assets shall be prorated on a daily basis between Seller and Purchaser (the “Prorations”) as of 11:59:59 p.m. local time for the Property on the date immediately preceding the
Closing Date (the “Proration Date”). In accordance with the terms of this Section 9.2.4, such items to be prorated shall include: (a) Rents and other income received by Seller as of the Proration Date, if
any, including prepaid rents; (b) any amounts prepaid, accrued or due and payable under the Facility Contracts; (c) utility charges, if any; (d) payments under agreements assigned to Purchaser, if any; (e) Taxes; and
(f) Payments under any leases of personal property used in connection with the operation of the Property, to the extent such leases remain in place at Closing. 

(a) Any escrow accounts held by any utility companies, and any cash deposits made by Seller prior to Closing to secure obligations under
contracts which will continue after Closing, shall be either paid to Seller or, if assigned to Purchaser, Seller shall receive a credit at Closing for any such deposits. 

(b) Seller shall receive all income from the Property attributable to the period prior to the Proration Date and shall, except as otherwise
provided for in this Agreement, be responsible for all expenses of the Property attributable to the period prior to the Proration Date. In the event Purchaser receives any payment for rent due for any period prior to the Proration Date or payment of
any other receivable attributable to the period prior to the Proration Date, Purchaser shall forward such payment to Seller. Payments received from a tenant shall be allocated first to any current balances due from such party. 

(c) Purchaser shall receive all income from the Property attributable to the period from and after the Proration Date and shall, except as
otherwise provided for in this Agreement, be responsible for all expenses of the Property attributable to the period from and after the Proration Date. In the event Seller receives any payment for rent due for any period from and after the Proration
Date, Seller shall forward such payment to Purchaser. In addition, in the event any Seller has received any pre-paid rent from a tenant for any period from and after the Proration Date, Seller shall forward such pre-paid rent to Purchaser. 

(d) If the amount of any Taxes prorated hereunder are not ascertainable on the Closing Date, the proration for such Taxes shall be based on
the most recent available bill; provided, however, that after the Closing, Seller and Purchaser shall re-prorate the Taxes and pay any deficiency or excess in the original proration to the applicable Party promptly upon receipt of the actual bill
for the relevant taxable period. 
 (e) Purchaser shall receive a credit for all security deposits with respect to Tenant Leases that are
not transferred by Seller to Purchaser. Purchaser shall not receive a credit for any security deposits held by Seller that are transferred to Purchaser at Closing. Purchaser shall also receive a credit for any outstanding abated rent due with
respect to the Tenant Leases. Purchaser shall additionally receive a credit for the “Tenant Improvement Allowance” due to Women’s Clinic of Johnson County, Inc., a Kansas corporation, under the applicable Tenant Lease, which credit
shall be in the amount of thirty-four thousand dollars ($34,000). 

  
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 (f) The Parties shall use commercially reasonable efforts to obtain readings for all utilities
as of the Proration Date. If readings cannot be obtained as of the Closing Date, the cost of such utilities shall be prorated between Seller and Purchaser by estimating such cost on the basis of the most recent bill for such service; provided,
however, that after the Closing, the Parties shall re-prorate the amount for such utilities and pay any deficiency in the original Proration to the applicable Party promptly upon receipt of the actual bill for the relevant billing period. Seller
shall receive a credit for all deposits transferred to Purchaser or which remain on deposit for the benefit of Purchaser with respect to such utility contracts. 

9.3 Proration Schedule. Seller shall prepare a proposed schedule (the “Proration
Schedule”) including the items listed above and any other items the parties determine necessary. Such Proration Schedule shall include all applicable income and expenses with regard to the Property. Seller and Purchaser will use all
reasonable efforts to finalize and agree upon the Proration Schedule at least two (2) 
Business Days prior to Closing. 
 9.4 Re-Prorations. Any amounts that may become due under
this Article 9 shall be paid at Closing as can best be determined. A post-closing reconciliation of prorated items shall be made within ninety (90) days after Closing and any amounts due at that time shall be promptly forwarded to
the respective Party in a lump sum payment. Any additional amounts that may become due after such determination shall be forwarded at the time they are received. Any amounts due under this Article 9 which cannot be determined within
ninety (90) days after Closing (such as, for example, fiscal year end real estate taxes) shall be reconciled as soon as such amounts can be determined. Seller agrees that Purchaser shall have the right to audit the records of Seller in
connection with any such post-closing reconciliation. Purchaser agrees that Seller shall have the right to audit the records of Purchaser in connection with any post-closing reconciliation. 

9.5 Cash. All cash on hand, escrow and reserve accounts of Seller, accounts receivable and
accounts payable, indebtedness or liabilities for the period prior to the Closing Date shall remain the property or responsibility, as applicable, of Seller. Seller shall be responsible for the payment of all expenses on account of services and
supplies furnished to and for the benefit of the Assets through and including the day preceding the Closing Date and Purchaser shall be responsible for the payment of all expenses on account of services and supplies furnished to and for the benefit
of the Assets from and including the Closing Date. 
 9.6 Employees. If applicable, Seller
will comply with the notice requirements under the COBRA or any similar federal, state or local legislation with respect to any Employees terminated by Seller in connection with this transaction. It is expressly understood and agreed that Purchaser
is not and shall not be responsible or liable, directly or indirectly, for payment of any benefits, severance liability, compensation, pay or other obligations, of whatever nature, due or alleged to be due to any Employee of Seller attributable to
any time period up to, upon and after Closing. 
 9.7 Leasing Costs. Except as set
forth in Section 9.2.4(e), Seller agrees to pay or discharge at or prior to Closing all leasing commissions, costs for tenant improvements, lease buyout costs, moving allowances, design allowances, legal fees and other costs, expenses
and allowances incurred in order to induce a tenant to enter into a Lease or Lease renewal or 

  
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extension (collectively, “Leasing Costs”) that are due and payable prior to Closing with respect to Leases in force as of or prior to the Effective Date. Additionally,
as of Closing, Purchaser shall assume Seller’s obligations for (a) Leasing Costs that are due and payable after Closing with respect to Leases in force as of or prior to the Effective Date, and (b) Leasing Costs incurred with respect
to Leases and Lease renewals and extensions executed subsequent to the Effective Date.  
 10. DEFAULT AND
REMEDIES 
 10.1 Seller’s Default. If, at or any time prior to Closing, Seller fails
to perform in any material respect any of its covenants or obligations under this Agreement which breach or default is not caused in whole or in part by a Purchaser’s Default (and, if such failure is other than a failure to deliver
Seller’s Closing Deliveries (for which there shall be no notice or cure period), Seller fails to cure such condition failure within five (5) days after written notice of such failure is delivered by Purchaser to Seller) (a
“Seller’s Default”), and no material Purchaser’s Default has occurred which remains uncured, Purchaser may elect, as its sole and exclusive remedy, to (a) terminate this Agreement by providing written notice to
Seller, in which case the Deposit shall be refunded to Purchaser in accordance with Section 3.2.4, Seller shall reimburse Purchaser for all reasonable, actual, third party out-of-pocket expenses (not to exceed $60,000.00) incurred by
Purchaser in connection with the transactions contemplated by this Agreement within fifteen (15) days following the termination date, and the Parties shall have no further rights or obligations under this Agreement, except those which expressly
survive such termination, or (b) waive such default and proceed to Closing without any reduction in or setoff against the Purchase Price, or (c) obtain a court order for specific performance. IN NO EVENT SHALL SELLER’S DIRECT OR
INDIRECT MEMBERS, PARTNERS, SHAREHOLDERS, OWNERS OR AFFILIATES, ANY OFFICER, DIRECTOR, EMPLOYEE OR AGENT OF THE FOREGOING, OR ANY AFFILIATE OR CONTROLLING PERSON THEREOF HAVE ANY LIABILITY FOR ANY CLAIM, CAUSE OF ACTION OR OTHER LIABILITY ARISING
OUT OF OR RELATING TO THIS AGREEMENT OR THE PROPERTY, WHETHER BASED ON CONTRACT, COMMON LAW, STATUTE, EQUITY OR OTHERWISE. 
 
10.2 Purchaser’s Default. If at any time prior to Closing, Purchaser fails to perform in any material respect any of its covenants or obligations under this Agreement which breach or default is not caused in whole or in part
by a Seller’s Default (and, if such failure is other than a failure to deliver Purchaser’s Closing Deliveries (for which there shall be no notice or cure period), Purchaser fails to cure such condition failure within five (5) days
after written notice of such failure is delivered by Seller to Purchaser) (a “Purchaser’s Default”), and no material Seller’s Default has occurred which remains uncured, then Seller may elect, as its sole and
exclusive remedy, to (a) terminate this Agreement by providing written notice to Purchaser, in which case the Deposit shall be disbursed to Seller as liquidated damages in accordance with Section 3.2.5, and the Parties shall have no
further rights or obligations under this Agreement, except those which expressly survive such termination or (b) waive such default and proceed to Closing without any reduction in or setoff against the Purchase Price. 

10.3 Liquidated Damages. The Parties acknowledge and agree that if this Agreement is terminated
pursuant to Section 10.2, the damages that Seller would sustain as a result of such termination would be difficult if not impossible to ascertain. Accordingly, the Parties agree that 

  
 40 

 
Seller shall retain the Deposit as full and complete liquidated damages (and not as a penalty) as Seller’s sole and exclusive remedy for such termination; provided, however, that in addition
to the Deposit, Seller shall retain all rights and remedies under this Agreement with respect to those obligations of Purchaser which expressly survive such termination. Notwithstanding anything in this Section 10.3 to the contrary, in
the event of Purchaser’s Default or a termination of this Agreement, Seller shall have all remedies available at law or in equity in the event Purchaser or any party related to or affiliated with Purchaser is asserting any claims or right to
the Property that would otherwise delay or prevent Seller from having clear, indefeasible and marketable title to the Property. 
 
11. RISK OF LOSS 
 11.1 Casualty. If at any time after the Effective Date and
prior to Closing or earlier termination of this Agreement, the Assets or any portion thereof are damaged or destroyed by fire or any other casualty ( a “Casualty”), Seller shall give written notice of each such Casualty to
Purchaser promptly after the occurrence of such Casualty, and if such Casualty caused the Assets and Property to be damaged or destroyed such that the cost of repair or replacement is reasonably likely to exceed Five Hundred Thousand and NO/100
Dollars ($500,000.00), Purchaser shall have the right to elect, by providing written notice to Seller within thirty (30) days after Purchaser’s receipt of Seller’s written notice of such Casualty, to (a) terminate this Agreement
in its entirety, or (b) proceed to Closing, without terminating this Agreement, in which case the Seller shall (i) provide Purchaser with a credit against the Purchase Price in an amount equal to the applicable insurance deductible, and
(ii) transfer and assign to Purchaser all of the Seller’s right, title and interest in and to all proceeds from all casualty, business interruption, lost profits, and other applicable insurance policies maintained by Seller with respect to
the Assets, except those proceeds specifically payable in connection with and allocable to business interruption and lost profits and costs incurred by Seller for the period prior to the Closing to the extent assignable and if such proceeds are not
assignable, Purchaser shall receive a credit against the Purchase Price at Closing in an amount equal to the amount of such proceeds. If Purchaser fails to provide written notice of its election to Seller within such thirty (30) day time
period, then Purchaser shall be deemed to have elected to proceed to Closing pursuant to clause (b) of the preceding sentence. If the Closing is scheduled to occur within Purchaser’s thirty (30) day election period, the Closing Date
shall, upon Purchaser’s election, be postponed until the date which is five (5) Business Days after the expiration of such thirty (30) day election period. In the event that Purchaser terminates this Agreement pursuant to this
Section 11.1, the Deposit shall be returned to Purchaser. In the event that Seller proceeds to restore the affected Assets prior to Closing, such work shall be subject to Purchaser’s approval, not to be unreasonably withheld,
conditioned or delayed. 
 11.2 Condemnation. If, at any time after the Effective Date and
prior to Closing or the earlier termination of this Agreement, any Governmental Authority commences any condemnation proceeding or other proceeding in eminent domain with respect to all or any portion of the Property (a
“Condemnation”), Seller shall give written notice of such Condemnation to Purchaser promptly after Seller receives notice of such Condemnation, and if such Condemnation would give any tenant under its Tenant Lease the right
to terminate any such Tenant Lease, then Purchaser shall have the right to elect, by providing written notice to Seller within thirty (30) days after Purchaser’s receipt of Seller’s written notice of such Condemnation, 

  
 41 

 
to (i) terminate this Agreement in its entirety or (ii) proceed to Closing, without terminating this Agreement, in which case Seller shall assign to Purchaser all of any such
Seller’s right, title and interest in all proceeds and awards from such Condemnation. If Purchaser fails to provide written notice of its election to Seller within such time period, then Purchaser shall be deemed to have elected to proceed to
Closing pursuant to clause (ii) of the preceding sentence. If the Closing is scheduled to occur within Purchaser’s thirty (30) day election period, the Closing shall, upon Purchaser’s election, be postponed until the date which
is five (5) Business Days after the expiration of such thirty (30) day election period. In the event that Purchaser terminates this Agreement (or a portion thereof) pursuant to this Section 11.2, the Deposit shall be returned
to Purchaser. 
 12. SURVIVAL, INDEMNIFICATION AND RELEASE 

12.1 Survival. The representations and warranties, covenants and obligations (including without
limitations obligations of defense and indemnification) of Seller and Purchaser shall survive Closing or termination of this Agreement until the date which is twelve (12) months after the Closing Date (the “Survival
Period”). Each party shall have the right to bring an action against the other on the breach of a representation or warranty or covenant hereunder or in the documents delivered by Seller at the Closing, but only on the following
conditions: (i) the party bringing the action for breach first learns of the breach after Closing and files such action within the Survival Period, and (ii) neither party shall have the right to bring a cause of action for a breach of a
representation or warranty or covenant unless the damage to such party on account of such breach (individually or when combined with damages from other breaches) equals or exceeds Twenty-Five Thousand and No/100 Dollars ($25,000). If the threshold
set forth in the immediately preceding sentence is met, Seller shall be liable to indemnify Purchaser for the entire amount of Buyer’s damages including the initial $25,000.00. Neither party shall have any liability after Closing for the breach
of a representation or warranty or covenant hereunder of which the other party hereto had actual knowledge as of Closing. Notwithstanding any other provision of this Agreement, any agreement contemplated by this Agreement, or any rights which
Purchaser might otherwise have at law, equity, or by statute, whether based on contract or some other claim, Purchaser agrees that any liability of Seller to Purchaser will be limited to Three Hundred Fifty Thousand and No/100 Dollars ($350,000).
The provisions of this Section 12.1 shall survive the Closing. Any breach of a representation or warranty or covenant that occurs prior to Closing shall be governed by Article 10. Notwithstanding the foregoing, the Retained
Liabilities of Seller shall not be subject to the Survival Period. 
 12.2 Indemnification by
Seller. Subject to the limitations set forth in this Article 12 and any other express provision of this Agreement, Seller shall indemnify, save, insure, pay, defend and hold harmless Purchaser’s Indemnitees from and against any
Indemnification Loss incurred by any Purchaser’s Indemnitee to the extent resulting from (i) any breach of any representation or warranty of Seller in this Agreement, (ii) any breach by Seller of any of its covenants or obligation
under this Agreement, and (iii) any Retained Liabilities. 
 12.3 Indemnification by
Purchaser. Subject to the limitations set forth in this Article 12, Purchaser shall indemnify, defend and hold harmless Seller’s Indemnitees from and against any Indemnification Loss incurred by Seller’s Indemnitee to the
extent resulting from (i) any breach of any representation or warranty of Purchaser in this Agreement, (ii) any breach by Purchaser of any of its covenants or obligations under this Agreement, and (iii) any Assumed Liabilities. 

  
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 12.4 Indemnification Procedure. Notice of
Indemnification Claim. If any of Seller’s Indemnitees or Purchaser’s Indemnitees (as the case may be) (each, an “Indemnitee”) is entitled to defense or indemnification under any other provision in this
Agreement (each, an “Indemnification Claim”), the Party required to provide defense indemnification to such Indemnitee (the “Indemnitor”) shall not be obligated to defend, indemnify and hold harmless
such Indemnitee unless and until such Indemnitee provides written notice to such Indemnitor promptly after such Indemnitee has actual knowledge of any facts or circumstances on which such Indemnification Claim is based or a Third-Party Claim is made
on which such Indemnification Claim is based, describing in reasonable detail such facts and circumstances or Third-Party Claim with respect to such Indemnification Claim. 

12.4.1 Resolution of Indemnification Claim Not Involving Third-Party Claim. If the Indemnification Claim does not
involve a Third-Party Claim and is disputed by the Indemnitor, the dispute shall be resolved by litigation or other means of alternative dispute resolution as the Parties may agree in writing. 

12.4.2 Resolution of Indemnification Claim Involving Third-Party Claim. If the Indemnification Claim involves a
Third-Party Claim, the Indemnitor shall have the right (but not the obligation) to assume the defense of such Third-Party Claim, at its cost and expense, and shall use good faith efforts consistent with prudent business judgment to defend such
Third-Party Claim, provided that (i) the counsel for the Indemnitor who shall conduct the defense of the Third-Party Claim shall be reasonably satisfactory to the Indemnitee (unless selected by Indemnitor’s insurance company, in which case
Indemnitee shall have no such approval rights), (ii) the Indemnitee, at its cost and expense, may participate in, but shall not control, the defense of such Third-Party Claim, and (iii) the Indemnitor shall not enter into any settlement or
other agreement which requires any performance by the Indemnitee, other than the payment of money which shall be paid by the Indemnitor. The Indemnitee shall not enter into any settlement agreement with respect to the Indemnification Claim, without
the Indemnitor’s prior written consent. If the Indemnitor elects not to assume the defense of such Third-Party Claim, the Indemnitee shall have the right to retain the defense of such Third-Party Claim and shall use good faith efforts
consistent with prudent business judgment to defend such Third-Party Claim in an effective and cost-efficient manner. 

12.4.3 Accrual of Indemnification Obligation. Notwithstanding anything to the contrary in this Agreement, the
Indemnitee shall have no right to indemnification against the Indemnitor for any Indemnification Claim which (i) does not involve a Third-Party Claim but is disputed by Indemnitor until such time as such dispute is resolved by written agreement
or by a final, non-appealable order of court of competent jurisdiction or (ii) which involves a Third-Party Claim until such time as such Third-Party Claim is concluded, including any appeals with respect thereto in the case of a claim in
litigation. 

  
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 12.5 Holdback. Seller agrees to escrow the sum of
$350,000.00 of Seller’s net closing proceeds with the Escrow Agent (the “Holdback”) as security for the indemnity obligations hereunder. If no Indemnification Claim has been made six (6) months following the Closing
Date, then Escrow Agent shall release one-half of the Holdback to Seller. If no Indemnification Claim has been made as of the end of the first anniversary of the Closing Date, then Escrow Agent shall release the balance of the Holdback to Seller.
Seller, Purchaser and Escrow Agent shall execute the Holdback Escrow Agreement concerning the Holdback and the disbursement thereof. 
 
12.6 Acknowledgements Concerning Representations and Warranties. 
 12.6.1 Acknowledgment by
Purchaser. To the extent that any representation or warranty of Seller made herein is, to Purchaser’s knowledge as of the Closing Date, inaccurate, then (a) Purchaser shall not be able to seek indemnification for any damage arising
from such inaccurate representation or warranty, (b) any such representation or warranty by Seller shall be deemed amended to the extent necessary to make it consistent with Purchaser’s knowledge, and (c) Purchaser shall be deemed to
have waived its right to indemnification with respect to the breach of such representations or warranties to the extent of Purchaser’s actual knowledge. 

12.6.2 Acknowledgment by Seller. To the extent that any representation or warranty of Purchaser made herein is, to
Seller’s Knowledge as of the Closing Date, inaccurate, then (a) Seller shall not be able to seek indemnification for any damage arising from such inaccurate representation or warranty, (b) any such representation or warranty by
Purchaser shall be deemed amended to the extent necessary to make it consistent with Seller’s Knowledge, and (c) Seller shall be deemed to have waived its right to indemnification with respect to the breach of such representations or
warranties to the extent of Seller’s actual knowledge. 
 12.7 Disclaimers by Seller.
Except as expressly set forth in this Agreement, it is understood and agreed that Seller and Seller’s agents or employees have not at any time made and are not now making, and they specifically disclaim, any warranties, representations or
guaranties of any kind or character, express or implied, with respect to the Property and Assets, including, but not limited to, warranties, representations or guaranties as to (a) matters of title (other than Seller’s special warranty of
title to be contained in the Deed), (b) environmental matters relating to the Property, the Assets or any portion thereof, including, without limitation, the presence of Hazardous Materials in, on, under or in the vicinity of the Property or
Assets, (c) geological conditions, including, without limitation, subsidence, subsurface conditions, water table, underground water reservoirs, limitations regarding the withdrawal of water, and geologic faults and the resulting damage of past
and/or future faulting, (d) whether, and to the extent to which the Property or Assets or any portion thereof is affected by any stream (surface or underground), body of water, wetlands, flood prone area, flood plain, floodway or special flood
hazard, (e) drainage, (f) soil conditions, including the existence of instability, past soil repairs, soil additions or conditions of soil fill, or susceptibility to landslides, or the sufficiency of any undershoring, (g) the presence
of endangered species or any environmentally sensitive or protected areas, (h) zoning or building entitlements to which the Property or any portion thereof may be subject, (i) the availability of any utilities to the Assets or Property or
any portion thereof 

  
 44 

 
including, without limitation, water, sewage, gas and electric, (j) usages of adjoining property, (k) access to the Assets or Property or any portion thereof, (l) the value,
compliance with the plans and specifications, size, location, age, use, design, quality, description, suitability, structural integrity, operation, title to, or physical or financial condition of the Property or any portion thereof, or any income,
expenses, charges, liens, encumbrances, rights or claims on or affecting or pertaining to the Assets, Property or any part thereof, (m) the condition or use of the Assets or Property or compliance of the Assets or Property with any or all past,
present or future federal, state or local ordinances, rules, regulations or laws, building, fire or zoning ordinances, codes or other similar laws, (n) the existence or non-existence of underground storage tanks, surface impoundments, or
landfills, (o) any other matter affecting the stability and integrity of the Assets or Property, (p) the potential for further development of the Assets or Property, (q) the merchantability of the Assets or Property or fitness of the
Assets or Property for any particular purpose, (r) the truth, accuracy or completeness of any Seller Disclosure Materials or portion thereof produced or provided by any party other than Seller, (s) tax consequences, or (t) any other
matter or thing with respect to the Assets or Property. 
 12.8 Sale “As Is, Where
Is”. Purchaser acknowledges and agrees that upon Closing, Seller shall sell and convey to Purchaser and Purchaser shall accept the Assets “AS IS, WHERE IS, WITH ALL FAULTS,” except to the extent expressly provided otherwise in
this Agreement and any document executed by Seller and delivered to Purchaser at Closing. Except as expressly set forth in this Agreement, Purchaser has not relied and will not rely on, and Seller has not made and is not liable for or bound by, any
express or implied warranties, guarantees, statements, representations or information pertaining to the Assets or relating thereto (including specifically, without limitation, property information packages distributed with respect to the Assets)
made or furnished by Seller, or any property manager, real estate broker, agent or third party representing or purporting to represent Seller, to whomever made or given, directly or indirectly, orally or in writing. Purchaser represents that it is a
knowledgeable, experienced and sophisticated purchaser of real estate and that, except as expressly set forth in this Agreement, it is relying solely on its own expertise and that of Purchaser’s consultants in purchasing the Assets and shall
make an independent verification of the accuracy of any documents and information provided by Seller. Purchaser will conduct such inspections and investigations of the Assets as Purchaser deems necessary, including, but not limited to, the physical
and environmental conditions thereof, and shall rely upon same. By failing to terminate this Agreement prior to the expiration of the Inspection Period, Purchaser acknowledges that Seller has afforded Purchaser a full opportunity to conduct such
investigations of the Assets as Purchaser deemed necessary to satisfy itself as to the condition of the Assets and the existence or non-existence or curative action to be taken with respect to any Hazardous Materials on or discharged from the
Assets, and will rely solely upon same and not upon any information provided by or on behalf of Seller or its agents or employees with respect thereto, other than such representations, warranties and covenants of Seller as are expressly set forth in
this Agreement. Upon Closing, except as otherwise expressly set forth in this Agreement, Purchaser shall assume the risk that adverse matters, including, but not limited to, adverse physical or construction defects or adverse environmental, health
or safety conditions, may not have been revealed by Purchaser’s inspections and investigations. Purchaser hereby represents and warrants to Seller that: (a) Purchaser is represented by legal counsel in connection with the transaction
contemplated by this Agreement; and (b) Purchaser is purchasing the Property for business, commercial, investment or other similar purpose and not for use as Purchaser’s residence. Purchaser waives any and all rights or remedies it may
have or be entitled to, deriving from disparity in size or from any significant disparate bargaining position in relation to Seller. 

  
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 12.9 Seller Released from Liability. Purchaser
acknowledges that it will have the opportunity to inspect the Property and Assets during the Inspection Period, and during such period, observe its physical characteristics and existing conditions and the opportunity to conduct such investigation
and study on and of the Property and adjacent areas as Purchaser deems necessary. Except for the Retained Liabilities and Seller’s express representations, warranties and covenants contained in this Agreement including those representations and
covenants which expressly survive closing, upon Closing Purchaser shall be deemed to FOREVER RELEASE AND DISCHARGE Seller from all responsibility and liability, including without limitation, liabilities and responsibilities for the lessor’s
obligations under the Tenant Leases relating to the physical, environmental or legal compliance status of the Assets or Property, whether arising before or after the Effective Date, and liabilities under the Comprehensive Environmental Response,
Compensation and Liability Act Of 1980 (42 U.S.C. Sections 9601 et seq.), as amended (“CERCLA”), regarding the condition, valuation, salability or utility of the Assets or Property, or its suitability for any purpose
whatsoever (including, but not limited to, with respect to the presence in the soil, air, structures and surface and subsurface waters, of Hazardous Materials or other materials or substances that have been or may in the future be determined to be
toxic, hazardous, undesirable or subject to regulation and that may need to be specially treated, handled and/or removed from the Property under current or future federal, state and local laws, regulations or guidelines, and any structural and
geologic conditions, subsurface soil and water conditions and solid and hazardous waste and Hazardous Materials on, under, adjacent to or otherwise affecting the Property). Except for the Retained Liabilities and Seller’s express
representations, warranties and covenants contained in this Agreement including those representations and covenants which expressly survive closing, by Closing this transaction, Purchaser will be deemed to have WAIVED any and all objections and
complaints (including, but not limited to, federal, state and local statutory and common law based actions, and any private right of action under any federal, state or local laws, regulations or guidelines to which the Tenant Property is or may be
subject, including, but not limited to, CERCLA) concerning the physical characteristics and any existing conditions of the Property, including, without limitation, the lessor’s obligations under the Leases relating to the physical,
environmental or legal compliance status of the Tenant Property, whether arising before or after the Effective Date. Except for the Retained Liabilities and Seller’s express representations, warranties and covenants contained in this Agreement
including those representations and covenants which expressly survive closing, by Closing this transaction, Purchaser further hereby assumes the risk of changes in applicable laws and regulations relating to past, present and future environmental
conditions on the Tenant Property and the risk that adverse physical characteristics and conditions, including, without limitation, the presence of Hazardous Materials or other contaminants, may not have been revealed by its investigation. 

12.10 Survival. The terms and conditions of this Section 12 shall expressly survive
the Closing. Purchaser acknowledges and agrees that the disclaimers and other agreements set forth herein are an integral part of this Agreement and that Seller would not have agreed to sell the Assets to Purchaser for the Purchase Price without the
disclaimers and other agreements set forth above. 

  
 46 

 13. MISCELLANEOUS PROVISIONS 

13.1 Notices. 

13.1.1 Method of Delivery. Any notice pursuant to this Agreement shall be given in writing by (a) personal
delivery, (b) reputable overnight delivery service with proof of delivery, (c) United States Mail, postage prepaid, registered or certified mail, return receipt requested, or (d) e-mail, sent to the intended addressee at the address
set forth below, or to such other address or to the attention of such other Person as the addressee shall have designated by written notice sent in accordance herewith. Any notice so given shall be deemed to have been given upon receipt or refusal
to accept delivery, or, in the case of e-mail, as of the date of the e-mail, provided that such e-mail is also sent to the intended addressee by means described in clauses (a), (b) or (c) above. Unless changed in accordance with the
preceding sentence, the addresses for notices given pursuant to this Agreement shall be as follows: 
  

			
	If to Seller:	  	 MidAmerica Surgery Institute Properties II, LLC

c/o Parr Brown Gee & Loveless
 101 South 200 East, Suite
700
 Salt Lake City, UT 84111
 Attention: Stephen
Richards
 Telephone No.: (801) 201-5855
 E-Mail:
slrichards82@gmail.com

		
	with a copy to:	  	 Parr Brown Gee & Loveless
 101 South 200
East, Suite 700
 Salt Lake City, Utah 84111
 Attention: Barton
L. Gertsch, Esq.
 Telephone No.: (801) 532-7840
 E-Mail:
bgertsch@parrbrown.com

		
	If to Purchaser:	  	 CHP II Partners, LP
 c/o CNL Healthcare
Properties II, Inc.
 450 South Orange Avenue, 14th Floor

Orlando, Florida 32801
 Attention: Chief Financial Officer and

General Counsel
 Telephone No.: (407) 650-1000

Facsimile No.: (407) 540-2576
 E-Mail: kevin.maddron@cnl.com

E-Mail: tracey.bracco@cnl.com

		
	with a copy to:	  	 Lowndes, Drosdick, Doster, Kantor & Reed, P.A.

215 North Eola Drive
 Post Office Box 2809

Orlando, Florida 32802
 Attention: John D. Ruffier, Esquire
and
 Richard E. Englebright Jr., Esq.
 Telephone No.: (407)
843-4600
 E-Mail: john.ruffier@lowndes-law.com
 E-Mail:
richard.englebright@lowndes-law.com

  
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 13.1.2 Receipt of Notices. All Notices sent by a Party (or its counsel as
contemplated below) under this Agreement shall be deemed to have been received by the Party to whom such Notice is sent upon (a) delivery to the address or e-mail address of the recipient Party, provided that such delivery is made prior to 5:00
p.m. (local time for the recipient Party) on a Business Day, otherwise the following Business Day, or (b) the attempted delivery of such Notice if (i) such recipient Party refuses delivery of such Notice, or (ii) such recipient Party
is no longer at such address or e-mail address, and such recipient Party failed to provide the sending Party with its current address or e-mail address pursuant to Section 13.1.3. 

13.1.3 Change of Address. The Parties and their respective counsel shall have the right to change their respective
address or e-mail address for the purposes of this Section 13.1 by providing a Notice of such change in address or e-mail address as required under this Section 13.1. 

13.1.4 Delivery by Party’s Counsel. The Parties agree that the attorney for a Party shall have the authority to
deliver Notices on such Party’s behalf to the other Parties hereto. 
 13.2 Time is of the
Essence. Time is of the essence in this Agreement; provided, however, that notwithstanding anything to the contrary in this Agreement, if the time period for the performance of any covenant or obligation, satisfaction of any condition or
delivery of any Notice or item required under this Agreement shall expire on a day other than a Business Day, such time period shall be extended automatically to the next Business Day. 

13.3 Assignment. Neither Purchaser nor Seller shall assign this Agreement or any interest
therein to any Person, without the prior written consent of the other Party which consent may be withheld in the other Party’s sole discretion, except however, Purchaser shall have the right to designate any wholly-owned Subsidiary or any CNL
Financial Group-affiliated or sponsored entity to receive title or may assign this Agreement, in whole or in part, to one or more Affiliates of Purchaser by providing written notice to Seller no later than three (3) Business Days prior to
Closing. In the event of a split of the interests being conveyed pursuant to an assignment, Seller agrees to enter into all reasonable and necessary documentation necessary to memorialize such a transaction. 

13.4 Successors and Assigns. This Agreement shall be binding upon the Parties hereto and their
respective heirs and permitted successors, and assigns, each of whom shall be entitled to enforce performance and observance of this Agreement, to the same extent as if such heirs, successors, and assigns, were parties, hereto. 

13.5 Third Party Beneficiaries. This Agreement shall not confer any rights or remedies on any Person
other than (i) the Parties and their respective successors and permitted assigns, and (ii) any Indemnitee to the extent such Indemnitee is expressly provided any right of defense or indemnification in this Agreement. 

  
 48 

 13.6 Rules of Construction. The following rules
shall apply to the construction and interpretation of this Agreement: 
 13.6.1 Singular words shall connote the plural as
well as the singular, and plural words shall connote the singular as well as the plural, and the masculine shall include the feminine and the neuter, as the context may require. 

13.6.2 All references in this Agreement to particular articles, sections, subsections or clauses (whether in upper or lower
case) are references to articles, sections, subsections or clauses of this Agreement. All references in this Agreement to particular exhibits or schedules (whether in upper or lower case) are references to the exhibits and schedules attached to this
Agreement, unless otherwise expressly stated or clearly apparent from the context of such reference. 
 13.6.3 The headings
in this Agreement are solely for convenience of reference and shall not constitute a part of this Agreement nor shall they affect its meaning, construction or effect. 

13.6.4 Each Party and its counsel have reviewed and revised (or requested revisions of) this Agreement and have participated
in the preparation of this Agreement, and therefore any rules of construction requiring that ambiguities are to be resolved against the Party which drafted the Agreement or any exhibits hereto shall not be applicable in the construction and
interpretation of this Agreement or any exhibits hereto. 
 13.6.5 The terms “sole discretion” and “absolute
discretion” with respect to any determination to be made a Party under this Agreement shall mean the sole and absolute discretion of such Party, without regard to any standard of reasonableness or other standard by which the determination of
such Party might be challenged. 
 13.7 Severability. If any provision of this Agreement is
ultimately determined to be invalid or unenforceable, such provision shall be deemed limited by construction in scope and effect to the minimum extent necessary to render the same valid and enforceable, and, in the event no such limiting
construction is possible, such invalid or unenforceable provision shall be deemed severed from the Agreement without affecting the validity of any other provision hereof if the essential provisions of this Agreement for each party remain valid,
binding and enforceable. 
 13.8 Governing Law, Jurisdiction and Venue. This Agreement shall
be governed by, and construed and interpreted in accordance with, the laws of the State of Kansas. Purchaser and Seller agree to exclusively submit to the jurisdiction of Kansas in connection with any claims or controversy arising out of this
Agreement and that venue for such actions shall exclusively be in Johnson County, Kansas. Seller (for itself and all Seller’s Indemnitees) and Purchaser (for itself and all Purchaser’s Indemnitees) hereby submit to jurisdiction and consent
to venue in such courts, and waive any defense based on forum non conveniens, provided that any Party may seek injunctive relief or specific performance with respect to any of the Assets in the courts of the 

  
 49 

 
State in which such Assets are situated and may incorporate a claim against Seller of such Assets with respect to any claim for injunctive relief or specific performance. 

13.9 WAIVER OF JURY TRIAL. THE PARTIES HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVE,
TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAWS, ANY RIGHT THAT EITHER PARTY OR THEIR HEIRS, PERSONAL REPRESENTATIVES, SUCCESSORS OR ASSIGNS MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION BASED HEREON, OR ARISING OUT OF, UNDER OR IN
CONNECTION WITH THIS AGREEMENT OR ANY OTHER DOCUMENTS EXECUTED IN CONNECTION HEREWITH, OR IN RESPECT OF ANY COURSE OF CONDUCT, STATEMENTS (WHETHER ORAL OR WRITTEN), OR ACTIONS OF ANY PARTY. THIS PROVISION IS A MATERIAL INDUCEMENT FOR EACH OF THE
PARTIES TO ENTER INTO THIS AGREEMENT. 
 13.10 Attorneys’ Fees. In connection with any
disputes or actions arising out of the transactions contemplated by this Agreement, or the breach, enforcement or interpretation of this Agreement, the substantially prevailing party shall be entitled to recover, from the party not substantially
prevailing, all reasonable costs and attorney, paralegal and expert fees incurred by the substantially prevailing party before trial, at trial, at retrial, on appeal, at all hearings and rehearings, and in all administrative, bankruptcy and
reorganization proceedings. 
 13.11 Incorporation of Recitals Exhibits, and Schedules. The
recitals to this Agreement, and all exhibits and schedules referred to in this Agreement are incorporated herein by such reference and made a part of this Agreement. Any matter disclosed in any schedule to this Agreement shall be deemed to be
incorporated in all other schedules to this Agreement. 
 13.12 No Other Agreements. This
Agreement and the agreements to be executed and delivered in connection therewith set forth the entire understanding and agreement of the Parties hereto and shall supersede any other agreements and understandings (written or oral) between the
Parties on or prior to the Effective Date with respect to the transactions described in this Agreement. 

13.13 Further Actions. Each of the Parties covenants and agrees to do, execute, acknowledge and
deliver, or cause to be done, executed, acknowledged and delivered, any and all such further acts, instruments, papers and documents as may be reasonably necessary to carry out and effectuate the intent and purposes of this Agreement. 

13.14 No Waiver. No delay or omission to exercise any right or power accruing prior to or upon
any breach, omission, or failure of performance hereunder shall impair any such right or power, or shall be construed to be a waiver thereof, and any such right or power may be exercised from time to time and as often as may be deemed expedient. In
the event of any breach of any provision contained in this Agreement, thereafter waived by another Party, such waiver shall be limited to the particular waiving Party and to the particular breach in question and no other. No waiver or release of any
term or provision of this Agreement shall be established by conduct, custom, or course of dealing, but solely by a document in writing duly authorized and executed by the waiving or releasing Party. 

  
 50 

 13.15 Modifications. No amendment or modification
to any terms or provisions of this Agreement, waiver of any covenant, obligation, breach or default under this Agreement or termination of this Agreement, shall be valid unless in writing and executed and delivered by each of the Parties. 

13.16 Counterpart and Electronic Execution. A Party may deliver executed signature pages to
this Agreement by e-mail pdf file to any other Party, which pdf shall be deemed to be an original executed signature page. This Agreement may be executed in any number of counterparts, each of which shall be deemed an original and all of which
counterparts together shall constitute one agreement with the same effect as if the Parties had signed the same signature page. 
 
13.17 Required Disclosures. Notwithstanding anything in this Agreement to the contrary, in order to avoid any potential application of Section 1.6011-4(b)(3) of the Treasury Regulations, Purchaser and Seller (and each
employee, representative, or other agent of Purchaser and Seller) may disclose to any and all Persons, without limitation of any kind, the tax treatment and tax structure of the transactions contemplated by this Agreement and all materials of any
kind (including opinions or other tax analyses) that are provided to Purchaser or Seller relating to such tax treatment and tax structure. For purposes hereof, “tax structure” means any fact that may be relevant to understanding the
federal income tax treatment of the transaction. 
 13.18 No Personal Liability. Nothing
contained in this Agreement shall be construed to create or impose any liabilities or obligations and no such liabilities or obligations shall be imposed on any of the shareholders, beneficial owners, direct or indirect, officers, directors,
trustees, employees or agents of Seller or Purchaser or their respective Affiliates for the payment or performance of the obligations or liabilities of Seller or Purchaser. 

13.19 Good Faith Efforts. The Parties agree to use commercially reasonable, good-faith efforts
to effectuate the transactions contemplated by this Agreement. 
 13.20 Post-Execution
Disclosures. The Parties agree that the Party or Parties charged with providing an exhibit or schedule to this Agreement or representation or warranty contained in this Agreement may update such exhibits, schedules, representations and
warranties promptly (but in any event within five (5) Business Days) after any change in condition or state of facts which would render any such exhibit, schedule, representation or warranty incomplete or inaccurate. In the event that Seller
updates any exhibit, schedule, representation or warranty during the period commencing on the date which is two (2) Business Days prior to the expiration of the Inspection Period and ending upon the expiration of the Inspection Period, the
Inspection Period shall be extended for two (2) Business Days. If Seller updates any exhibit, schedule, representation or warranty from and after the expiration of the Inspection Period, Purchaser shall have the right to terminate this
Agreement on or before the date that is (2) Business Days after the date of such update of the exhibit, schedule, representation or warranty, and such termination shall be treated for all purposes as a termination by Purchaser prior to the
expiration of the Inspection Period. 
 13.21 No Recordation. Without the prior written
consent of both Seller and Purchaser, there shall be no recordation of either this Agreement or any memorandum hereof, or any 

  
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affidavit pertaining hereto, and any such recordation of this Agreement or memorandum or affidavit by a Party without the prior written consent of the other Party shall constitute a default
hereunder by recording Party, whereupon the non-defaulting Party shall have the remedies set forth in Article 10 hereof. In addition to any such remedies, the defaulting Party shall be obligated to execute an instrument in recordable form
releasing this Agreement or memorandum or affidavit, and the Parties obligations pursuant to this Section 13.21 shall survive any termination of this Agreement as a surviving obligation. 

13.22 Discharge of Obligations. Following Closing, each Party shall be deemed to be in full
performance and discharge of every representation and warranty made by the Parties herein and every agreement and obligation on the part of either Party to be performed pursuant to the provisions of this Agreement, except those which are herein
specifically stated to survive Closing. 
 [Remainder of page intentionally left blank; 

Signatures on following pages] 

  
 52 

 IN WITNESS WHEREOF, each Party has caused this Agreement to be executed and delivered in
its name by a duly authorized officer as of the date first set forth above. 
  

			
	SELLER:
	
	MIDAMERICA SURGERY INSTITUTE PROPERTIES II, LLC, a Kansas limited liability company
		
	By:	 	/s/ Stephen L. Richards
	Name: Stephen L. Richards
	Title: Chairman of the Board

 [Remainder of page intentionally left blank; 

Signatures continue on following page] 

Seller Signature Page 

 
							
	Purchaser:
	CHP II PARTNERS, LP, a Delaware limited partnership
		
	By:	 	CHP II GP, LLC, a Delaware limited liability company, its General Partner
			
		 	 By:
	 	 CNL Healthcare Properties II, Inc., a

Maryland corporation, its Managing
 Member

			
		 		 	By: /s/ Tracey B. Bracco
		 		 	Name: Tracey B. Bracco
		 		 	Title: Vice President

 Purchaser Signature Page 

 The undersigned hereby joins in the execution of this Agreement for the purposes of acknowledging
and accepting its obligations as Escrow Agent hereunder: 
  

			
	ESCROW AGENT:
	
	 FIRST AMERICAN TITLE INSURANCE

COMPANY

		
	By:	 	/s/ Rachael Yenque
	Name: Rachael Yenque
	Title: Senior Commercial Closer

 Escrow Agent Signature PageExhibit 10.1

 

NEITHER THESE SECURITIES NOR THE SECURITIES ISSUABLE UPON EXERCISE OF THESE SECURITIES HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”) AND APPLICABLE STATE SECURITIES LAWS AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO (I) AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR (II) AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS OR BLUE SKY LAWS.  THESE SECURITIES AND THE SECURITIES ISSUABLE UPON EXERCISE OF THESE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN SECURED BY SUCH SECURITIES.

 

RESONANT INC.

 

WARRANT TO PURCHASE COMMON STOCK

 

	
Warrant No. 002
    	
Original Issue   Date: October 2, 2017
    

 

Resonant Inc., a Delaware corporation (the “Company”), hereby certifies that, for value received, National Securities Corporation or its permitted registered assigns (the “Holder”), is entitled to purchase from the Company up to a total of 11,567 shares of common stock, $0.001 par value (the “Common Stock”), of the Company (each such share, a “Warrant Share” and all such shares, the “Warrant Shares”) at an exercise price per share equal to $4.85 (as adjusted from time to time as provided in Section 9 herein, the “Exercise Price”), at any time and from time to time from on or after March 28, 2018 (the “Trigger Date”) and through and including 5:00 P.M., prevailing Pacific time, on September 28, 2020 (the “Expiration Date”), and subject to the following terms and conditions:

 

This Warrant (this “Warrant”) is being issued to the Holder as a placement agent in connection with the offering of securities by the Company pursuant to that certain Securities Purchase Agreement dated September 25, 2017, by and among the Company and the Buyers identified therein (the “Purchase Agreement”).

 

1.                                      Definitions.  In addition to the terms defined elsewhere in this Warrant, capitalized terms that are not otherwise defined herein have the meanings given to such terms in the Purchase Agreement.

 

2.                                      Registration of Warrants.  The Company shall register this Warrant, upon records to be maintained by the Company for that purpose (the “Warrant Register”), in the name of the record Holder (which shall include the initial Holder or, as the case may be, any registered assignee to which this Warrant is permissibly assigned hereunder) from time to time.  The Company may deem and treat the registered Holder of this Warrant as the absolute owner hereof for the purpose of any exercise hereof or any distribution to the Holder, and for all other purposes, absent actual notice to the contrary.

 

 

3.                                      Registration of Transfers.  The Company shall register the transfer of all or any portion of this Warrant in the Warrant Register, upon (i) surrender of this Warrant, with the Form of Assignment attached as Schedule 2 hereto duly completed and signed, to the Company’s transfer agent or to the Company at its address specified herein, (ii) delivery, at the request of the Company, of an opinion of counsel reasonably satisfactory to the Company to the effect that the transfer of such portion of this Warrant may be made pursuant to an available exemption from the registration requirements of the Securities Act and all applicable state securities or blue sky laws and (iii) delivery by the transferee of a written statement to the Company certifying that the transferee is an “accredited investor” as defined in Rule 501(a) under the Securities Act and making the representations and certifications set forth in Article V of the Purchase Agreement, to the Company at its address specified in the Purchase Agreement. Upon any such registration or transfer, a new warrant to purchase Common Stock in substantially the form of this Warrant (any such new warrant, a “New Warrant”) evidencing the portion of this Warrant so transferred shall be issued to the transferee, and a New Warrant evidencing the remaining portion of this Warrant not so transferred, if any, shall be issued to the transferring Holder. The acceptance of the New Warrant by the transferee thereof shall be deemed the acceptance by such transferee of all of the rights and obligations of a Holder of a Warrant.

 

4.                                      Exercise and Duration of Warrants.

 

(a)                                 All or any part of this Warrant shall be exercisable by the registered Holder at any time and from time to time on or after the Trigger Date and through and including 5:00 P.M. prevailing Pacific time on the Expiration Date. At 5:00 P.M., prevailing Pacific time, on the Expiration Date, the portion of this Warrant not exercised prior thereto shall be and become void and of no value and this Warrant shall be terminated and no longer outstanding.

 

(b)                                 The Holder may exercise this Warrant by delivering to the Company (i) an exercise notice, in the form attached as Schedule 1 hereto (the “Exercise Notice”), appropriately completed and duly signed, (ii) payment of the Exercise Price for the number of Warrant Shares as to which this Warrant is being exercised (which may take the form of a “cashless exercise” if so indicated in the Exercise Notice and if a “cashless exercise” may occur at such time pursuant to Section 10 below), and the date such items are delivered to the Company (as determined in accordance with the notice provisions hereof) is an “Exercise Date.” The delivery by (or on behalf of) the Holder of the Exercise Notice and the applicable Exercise Price as provided above shall constitute the Holder’s certification to the Company that its representations contained in Article V of the Purchase Agreement are true and correct as of the Exercise Date as if remade in their entirety (or, in the case of any transferee Holder that is not a party to the Purchase Agreement, such transferee Holder’s certification to the Company that such representations are true and correct as to such assignee Holder as of the Exercise Date).  The Holder shall not be required to deliver the original Warrant in order to effect an exercise hereunder.  Execution and delivery of the Exercise Notice shall have the same effect as cancellation of the original Warrant and issuance of a New Warrant evidencing the right to purchase the remaining number of Warrant Shares.

 

5.                                      Delivery of Warrant Shares.  Upon exercise of this Warrant, the Company shall promptly issue or cause to be issued and cause to be delivered to or upon the written order of the Holder and in such name or names as the Holder may designate a certificate for the Warrant Shares issuable upon such exercise, with an appropriate restrictive legend. The Holder, or any Person permissibly so designated by the Holder to receive Warrant Shares, shall be deemed to have become the holder of record of such Warrant Shares as of the Exercise Date.

 

6.                                      Charges, Taxes and Expenses.  Issuance and delivery of certificates for shares of Common Stock upon exercise of this Warrant shall be made without charge to the Holder for any issue or transfer tax, transfer agent fee or other incidental tax or expense in respect of the issuance of such certificates, all of which taxes and expenses shall be paid by the Company; provided, however, that the Company shall not be required to pay any tax which may be payable in respect of any transfer involved in the registration of any certificates for Warrant Shares or Warrants in a name other than that of the Holder or an Affiliate thereof. The Holder shall be responsible for all other tax liability that may arise as a result of holding or transferring this Warrant or receiving Warrant Shares upon exercise hereof.

 

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7.                                      Replacement of Warrant.  If this Warrant is mutilated, lost, stolen or destroyed, the Company shall issue or cause to be issued in exchange and substitution for and upon cancellation hereof, or in lieu of and substitution for this Warrant, a New Warrant, but only upon receipt of evidence reasonably satisfactory to the Company of such loss, theft or destruction (in such case) and, in each case, a customary and reasonable indemnity (which shall not include a surety bond), if requested. Applicants for a New Warrant under such circumstances shall also comply with such other reasonable regulations and procedures and pay such other reasonable third-party costs as the Company may prescribe. If a New Warrant is requested as a result of a mutilation of this Warrant, then the Holder shall deliver such mutilated Warrant to the Company as a condition precedent to the Company’s obligation to issue the New Warrant.

 

8.                                      Reservation of Warrant Shares.  The Company covenants that it will at all times reserve and keep available out of the aggregate of its authorized but unissued and otherwise unreserved Common Stock, solely for the purpose of enabling it to issue Warrant Shares upon exercise of this Warrant as herein provided, the number of Warrant Shares which are then issuable and deliverable upon the exercise of this entire Warrant, free from preemptive rights or any other contingent purchase rights of persons other than the Holder (taking into account the adjustments and restrictions of Section 9). The Company covenants that all Warrant Shares so issuable and deliverable shall, upon issuance and the payment of the applicable Exercise Price in accordance with the terms hereof, be duly and validly authorized, issued and fully paid and nonassessable. The Company will take all such action as may be necessary to assure that such shares of Common Stock may be issued as provided herein without violation of any applicable law or regulation, or of any requirements of any securities exchange or automated quotation system upon which the Common Shares may be listed.

 

9.                                      Certain Adjustments.  The Exercise Price and number of Warrant Shares issuable upon exercise of this Warrant are subject to adjustment from time to time as set forth in this Section 9.

 

(a)                                 Stock Dividends and Splits.  If the Company, at any time while this Warrant is outstanding, (i) pays a stock dividend on its Common Stock or otherwise makes a distribution on any class of capital stock that is payable in shares of Common Stock, (ii) subdivides its outstanding shares of Common Stock into a larger number of shares, or (iii) combines its outstanding shares of Common Stock into a smaller number of shares, then in each such case the Exercise Price shall be multiplied by a fraction, the numerator of which shall be the number of shares of Common Stock outstanding immediately before such event and the denominator of which shall be the number of shares of Common Stock outstanding immediately after such event. Any adjustment made pursuant to clause (i) of this paragraph shall become effective immediately after the record date for the determination of stockholders entitled to receive such dividend or distribution, and any adjustment pursuant to clause (ii) or (iii) of this paragraph shall become effective immediately after the effective date of such subdivision or combination.

 

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(b)                                 Fundamental Transactions. If, at any time while this Warrant is outstanding  (i) the Company effects any merger or consolidation of the Company with or into another Person, in which the Company is not the survivor, (ii) the Company effects any sale of all or substantially all of its assets or all or a majority of the Company’s Common Stock is acquired by a third party, in each case, in one or a series of related transactions, (iii) any tender offer or exchange offer (whether by the Company or another Person) is completed pursuant to which all or substantially all of the holders of Common Stock are permitted to tender or exchange their shares for other securities, cash or property, or (iv) the Company effects any reclassification of the Common Stock or any compulsory share exchange pursuant to which the Common Stock is effectively converted into or exchanged for other securities, cash or property (other than as a result of a subdivision or combination of shares of Common Stock covered by Section 9(a) above) (in any such case, a “Fundamental Transaction”), then the Holder shall have the right thereafter to receive, upon exercise of this Warrant, the same amount and kind of securities, cash or property as it would have been entitled to receive upon the occurrence of such Fundamental Transaction if it had been, immediately prior to such Fundamental Transaction, the holder of the number of Warrant Shares then issuable upon exercise in full of this Warrant without regard to any limitations on exercise contained herein (the “Alternate Consideration”).  The Company shall not effect any such Fundamental Transaction unless prior to or simultaneously with the consummation thereof, any successor to the Company, surviving entity or the corporation purchasing or otherwise acquiring such assets or other appropriate corporation or entity shall assume the obligation to deliver to the Holder, such Alternate Consideration as, in accordance with the foregoing provisions, the Holder may be entitled to purchase and/or receive (as the case may be), and the other obligations under this Warrant.  The provisions of this paragraph (c) shall similarly apply to subsequent transactions analogous to a Fundamental Transaction.

 

(c)                                  Number of Warrant Shares. Simultaneously with any adjustment to the Exercise Price pursuant to paragraph (a) of this Section, the number of Warrant Shares that may be purchased upon exercise of this Warrant shall be increased or decreased proportionately, so that after such adjustment the aggregate Exercise Price payable hereunder for the increased or decreased number of Warrant Shares shall be the same as the aggregate Exercise Price in effect immediately prior to such adjustment.

 

(d)                                 Calculations. All calculations under this Section 9 shall be made to the nearest cent or the nearest 1/100th of a share, as applicable. The number of shares of Common Stock outstanding at any given time shall not include shares owned or held by or for the account of the Company, and the sale or issuance of any such shares shall be considered an issue or sale of Common Stock.

 

(e)                                  Notice of Adjustments. Upon the occurrence of each adjustment pursuant to this Section 9, the Company at its expense will, at the written request of the Holder, promptly compute such adjustment, in good faith, in accordance with the terms of this Warrant and prepare a certificate setting forth such adjustment, including a statement of the adjusted Exercise Price and adjusted number or type of Warrant Shares or other securities issuable upon exercise of this Warrant (as applicable), describing the transactions giving rise to such adjustments and showing in detail the facts upon which such adjustment is based. Upon written request, the Company will promptly deliver a copy of each such certificate to the Holder and to the Company’s transfer agent.

 

(f)                                   Notice of Corporate Events. If, while this Warrant is outstanding, the Company (i) declares a dividend or any other distribution of cash, securities or other property in respect of its Common Stock, including, without limitation, any granting of rights or warrants to subscribe for or purchase any capital stock of the Company, (ii) authorizes or approves, enters into any agreement contemplating or solicits stockholder approval for any Fundamental Transaction or (iii) authorizes the voluntary dissolution, liquidation or winding up of the affairs of the Company, then, except if such notice and the contents thereof shall be deemed to constitute material non-public information, the Company shall deliver to the Holder a notice describing the material terms and conditions of such transaction at least ten (10) Trading Days prior to the applicable record or effective date on which a Person would need to hold Common Stock in order to participate in or vote with respect to such transaction, and the Company will take all steps reasonably necessary in order to insure that the Holder is given the practical opportunity to exercise this Warrant prior to such time so as to participate in or vote with respect to such transaction; provided, however, that the failure to deliver such notice or any defect therein shall not affect the validity of the corporate action required to be described in such notice.

 

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10.                               Payment of Exercise Price. The Holder shall pay the Exercise Price in immediately available funds; provided, however, the Holder may, in its sole discretion, satisfy its obligation to pay the Exercise Price through a “cashless exercise”, in which event the Company shall issue to the Holder the number of Warrant Shares determined as follows:

 

X = Y [(A-B)/A]

 

where:

 

X = the number of Warrant Shares to be issued to the Holder.

 

Y = the total number of Warrant Shares with respect to which this Warrant is being exercised.

 

A = the average of the Closing Sale Prices of the shares of Common Stock (as reported by Bloomberg Financial Markets) for the five Trading Days ending on the date immediately preceding the Exercise Date.

 

B = the Exercise Price then in effect for the applicable Warrant Shares at the time of such exercise.

 

For purposes of this Warrant, “Closing Sale Price” means, for any security as of any date, the last trade price for such security on the principal securities exchange or trading market for such security, as reported by Bloomberg Financial Markets, or, if such exchange or trading market begins to operate on an extended hours basis and does not designate the last trade price, then the last trade price of such security prior to 4:00:00 p.m., New York Time, as reported by Bloomberg Financial Markets, or if the foregoing do not apply, the last trade price of such security in the over-the-counter market on the electronic bulletin board for such security as reported by Bloomberg Financial Markets, or, if no last trade price is reported for such security by Bloomberg Financial Markets, the average of the bid prices, or the ask prices, respectively, of any market makers for such security as reported in the “pink sheets” by Pink Sheets LLC.  If the Closing Sale Price cannot be calculated for a security on a particular date on any of the foregoing bases, the Closing Sale Price of such security on such date shall be the fair market value as mutually determined by the Company and the Holder.  If the Company and the Holder are unable to agree upon the fair market value of such security, then the Company shall, within two business days submit via facsimile (a) the disputed determination of the Warrant Exercise Price to an independent, reputable investment bank selected by the Company and approved by the Holder or (b) the disputed arithmetic calculation of the Warrant Shares to the Company’s independent, outside accountant.  The Company shall cause at its expense the investment bank or the accountant, as the case may be, to perform the determinations or calculations and notify the Company and the Holder of the results no later than ten business days from the time it receives the disputed determinations or calculations.  Such investment bank’s or accountant’s determination or calculation, as the case may be, shall be binding upon all parties absent demonstrable error.  All such determinations to be appropriately adjusted for any stock dividend, stock split, stock combination or other similar transaction during the applicable calculation period.

 

For purposes of Rule 144 promulgated under the Securities Act, it is intended, understood and acknowledged that the Warrant Shares issued in a cashless exercise transaction shall be deemed to have been acquired by the Holder, and the holding period for the Warrant Shares shall be deemed to have commenced, on the date this Warrant was originally issued pursuant to the Purchase Agreement (provided that the Commission continues to take the position that such treatment is proper at the time of such exercise).

 

11.                               [Intentionally omitted.]

 

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12.                               No Fractional Shares.  No fractional Warrant Shares will be issued in connection with any exercise of this Warrant.  In lieu of any fractional shares which would otherwise be issuable, the number of Warrant Shares to be issued shall be rounded up to the next whole number.

 

13.                               Notices.  Any and all notices or other communications or deliveries hereunder (including, without limitation, any Exercise Notice) shall be in writing and shall be deemed given and effective on the earliest of (i) the date of transmission, if such notice or communication is delivered via facsimile at the facsimile number specified in the Purchase Agreement prior to 5:00 p.m. (prevailing Pacific time) on a Trading Day, (ii) the next Trading Day after the date of transmission, if such notice or communication is delivered via facsimile at the facsimile number specified in the Purchase Agreement on a day that is not a Trading Day or later than 5:00 p.m. (prevailing Pacific time) on any Trading Day, (iii) the Trading Day following the date of mailing, if sent by nationally recognized overnight courier service specifying next business day delivery, or (iv) upon actual receipt by the party to whom such notice is required to be given, if by hand delivery. The address and facsimile number of a party for such notices or communications shall be as set forth in the Purchase Agreement unless changed by such party by two Trading Days’ prior notice to the other party in accordance with this Section 13.

 

14.                               Warrant Agent.  The Company shall serve as warrant agent under this Warrant. Upon thirty (30) days’ notice to the Holder, the Company may appoint a new warrant agent. Any corporation into which the Company or any new warrant agent may be merged or any corporation resulting from any consolidation to which the Company or any new warrant agent shall be a party or any corporation to which the Company or any new warrant agent transfers substantially all of its corporate trust or shareholders services business shall be a successor warrant agent under this Warrant without any further act. Any such successor warrant agent shall promptly cause notice of its succession as warrant agent to be mailed (by first class mail, postage prepaid) to the Holder at the Holder’s last address as shown on the Warrant Register.

 

15.                               Registration Rights.  The Company hereby grants the Holder and its assigns registration rights covering the resale of the Warrant Shares, including “piggyback” registration rights on the registrations of the Company or demand registrations (voting with the other registrable securities to effect any such demand), on the same terms, and subject to the same conditions, as those registration rights afforded to the Buyers pursuant to the Registration Rights Agreement dated September 28, 2017 (“Registration Rights Agreement”) entered into between the Company and the Buyers.  At the request of either the Company or the Holder or its assigns, the parties shall enter into a formal written registration rights agreement with the Holder and its assigns on substantially the same terms and conditions as the Registration Rights Agreement.

 

16.                               Miscellaneous.

 

(a)                                 The Holder, solely in such Person’s capacity as a holder of this Warrant, shall not be entitled to vote or receive dividends or be deemed the holder of share capital of the Company for any purpose, nor shall anything contained in this Warrant be construed to confer upon the Holder, solely in such Person’s capacity as the Holder of this Warrant, any of the rights of a stockholder of the Company or any right to vote, give or withhold consent to any corporate action (whether any reorganization, issue of stock, reclassification of stock, consolidation, merger, amalgamation, conveyance or otherwise), receive notice of meetings, receive dividends or subscription rights, or otherwise, prior to the issuance to the Holder of the Warrant Shares which such Person is then entitled to receive upon the due exercise of this Warrant. In addition, nothing contained in this Warrant shall be construed as imposing any liabilities on the Holder to purchase any securities (upon exercise of this Warrant or otherwise) or as a stockholder of the Company, whether such liabilities are asserted by the Company or by creditors of the Company. Notwithstanding this Section 16(a), the Company shall provide the Holder with copies of the same notices and other information given to the shareholders of the Company if such information is not otherwise publicly available to the Holder, contemporaneously with the giving thereof to the shareholders.

 

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(b)                                 Subject to the restrictions on transfer set forth on the first page hereof, and compliance with applicable securities laws, this Warrant may be assigned by the Holder. This Warrant may not be assigned by the Company except to a successor in the event of a Fundamental Transaction. This Warrant shall be binding on and inure to the benefit of the parties hereto and their respective successors and assigns. Subject to the preceding sentence, nothing in this Warrant shall be construed to give to any Person other than the Company and the Holder any legal or equitable right, remedy or cause of action under this Warrant. This Warrant may be amended only in writing signed by the Company and the Holder, or their successors and assigns.

 

(c)                                  GOVERNING LAW; VENUE; WAIVER OF JURY TRIAL.  ALL QUESTIONS CONCERNING THE CONSTRUCTION, VALIDITY, ENFORCEMENT AND INTERPRETATION OF THIS WARRANT SHALL BE GOVERNED BY AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO THE PRINCIPLES OF CONFLICTS OF LAW THEREOF. EACH PARTY HEREBY IRREVOCABLY SUBMITS TO THE EXCLUSIVE JURISDICTION OF THE STATE AND FEDERAL COURTS SITTING IN THE CITY OF NEW YORK, BOROUGH OF MANHATTAN, FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION HEREWITH OR WITH ANY TRANSACTION CONTEMPLATED HEREBY OR DISCUSSED HEREIN (INCLUDING WITH RESPECT TO THE ENFORCEMENT OF ANY OF THE TRANSACTION DOCUMENTS), AND HEREBY IRREVOCABLY WAIVES, AND AGREES NOT TO ASSERT IN ANY SUIT, ACTION OR PROCEEDING, ANY CLAIM THAT IT IS NOT PERSONALLY SUBJECT TO THE JURISDICTION OF ANY SUCH COURT, THAT SUCH SUIT, ACTION OR PROCEEDING IS IMPROPER. EACH PARTY HEREBY IRREVOCABLY WAIVES PERSONAL SERVICE OF PROCESS AND CONSENTS TO PROCESS BEING SERVED IN ANY SUCH SUIT, ACTION OR PROCEEDING BY MAILING A COPY THEREOF VIA REGISTERED OR CERTIFIED MAIL OR OVERNIGHT DELIVERY (WITH EVIDENCE OF DELIVERY) TO SUCH PARTY AT THE ADDRESS IN EFFECT FOR NOTICES TO IT UNDER THIS AGREEMENT AND AGREES THAT SUCH SERVICE SHALL CONSTITUTE GOOD AND SUFFICIENT SERVICE OF PROCESS AND NOTICE THEREOF. NOTHING CONTAINED HEREIN SHALL BE DEEMED TO LIMIT IN ANY WAY ANY RIGHT TO SERVE PROCESS IN ANY MANNER PERMITTED BY LAW. THE COMPANY HEREBY WAIVES ALL RIGHTS TO A TRIAL BY JURY.

 

(d)                                 The headings herein are for convenience only, do not constitute a part of this Warrant and shall not be deemed to limit or affect any of the provisions hereof.

 

(e)                                  In case any one or more of the provisions of this Warrant shall be invalid or unenforceable in any respect, the validity and enforceability of the remaining terms and provisions of this Warrant shall not in any way be affected or impaired thereby, and the parties will attempt in good faith to agree upon a valid and enforceable provision which shall be a commercially reasonable substitute therefor, and upon so agreeing, shall incorporate such substitute provision in this Warrant.

 

(f)                                   Except as otherwise set forth herein, prior to exercise of this Warrant, the Holder hereof shall not, by reason of by being a Holder, be entitled to any rights of a stockholder with respect to the Warrant Shares.

 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK,

SIGNATURE PAGE FOLLOWS]

 

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IN WITNESS WHEREOF, the Company has caused this Warrant to be duly executed by its authorized officer as of the date first indicated above.

 

	
 
    	
RESONANT INC.
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ George B. Holmes
    
	
 
    	
 
    	
George B. Holmes,
    
	
 
    	
 
    	
Chief Executive Officer
    

 

 

SCHEDULE 1

 

FORM OF EXERCISE NOTICE

 

(To be executed by the Holder to exercise the right to purchase shares of Common Stock under the foregoing Warrant)

 

Ladies and Gentlemen:

 

(1)                                 The undersigned is the Holder of Warrant No.            (the “Warrant”) issued by Resonant Inc., a Delaware corporation (the “Company”).  Capitalized terms used herein and not otherwise defined herein have the respective meanings set forth in the Warrant.

 

(2)                                 The undersigned hereby exercises its right to purchase            Warrant Shares pursuant to the Warrant.

 

(3)                                 The Holder intends that payment of the Exercise Price shall be made as (check one):

 

o                                    Cash Exercise

 

o                                    “Cashless Exercise” under Section 10

 

(4)                                 If the Holder has elected a Cash Exercise, the Holder shall pay the sum of $        in immediately available funds to the Company in accordance with the terms of the Warrant.

 

(5)                                 Pursuant to this Exercise Notice, the Company shall deliver to the Holder               Warrant Shares in accordance with the terms of the Warrant.

 

	
Dated:                  ,       
    	
 
    
	
 
    	
 
    
	
Name of Holder:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
 
    	
 
    
	
Name:
    	
 
    	
 
    
	
Title:
    	
 
    	
 
    
						

 

(Signature must conform in all respects to name of Holder as specified on the face of the Warrant)

 

 

SCHEDULE 2

 

RESONANT, INC.

 

FORM OF ASSIGNMENT

 

[To be completed and signed only upon transfer of Warrant]

 

FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto                   (the “Transferee” the right represented by the within Warrant to purchase                shares of Common Stock of Resonant Inc. (the “Company”) to which the within Warrant relates and appoints                attorney to transfer said right on the books of the Company with full power of substitution in the premises. In connection therewith, the undersigned represents, warrants, covenants and agrees to and with the Company that:

 

(a)                                 the offer and sale of the Warrant contemplated hereby is being made in compliance with Section 4(a)(1) of the United States Securities Act of 1933, as amended (the “Securities Act”) or another valid exemption from the registration requirements of Section 5 of the Securities Act and in compliance with all applicable securities laws of the states of the United States;

 

(b)                                 the undersigned has not offered to sell the Warrant by any form of general solicitation or general advertising, including, but not limited to, any advertisement, article, notice or other communication published in any newspaper, magazine or similar media or broadcast over television or radio, and any seminar or meeting whose attendees have been invited by any general solicitation or general advertising;

 

(c)                                  the undersigned has read the Transferee’s investment letter included herewith, and to its actual knowledge, the statements made therein are true and correct; and

 

(d)                                 the undersigned understands that the Company may condition the transfer of the Warrant contemplated hereby upon the delivery to the Company by the undersigned or the Transferee, as the case may be, of a written opinion of counsel (which opinion shall be in form, substance and scope customary for opinions of counsel in comparable transactions) to the effect that such transfer may be made without registration under the Securities Act and under applicable securities laws of the states of the United States.

 

	
Dated:
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
(Signature must conform in all respects to name of holder as   specified on the face of the Warrant)
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Address of Transferee
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
In the presence of:

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