Document:

EX-10.3

WHEN RECORDED RETURN TO:

THOMPSON & KNIGHT LLP

ONE ARTS PLAZA

1722 ROUTH STREET, SUITE 1500

DALLAS, TEXAS 75201-2533

ATTENTION: JEANNE BURTON

Loan No. 07-0084291

ASSUMPTION AND MODIFICATION AGREEMENT

(Portfolio)

This ASSUMPTION AND MODIFICATION AGREEMENT (Portfolio) (this “Agreement”) is dated effective
as of May 12, 2011 (the “Effective Date”), by and among (i) TMB-ALICE, LP, a Delaware limited
partnership, CARLSBAD-TMB, LLC, a Delaware limited liability company, HOBBS-TMB, LLC, a Delaware
limited liability company, HOPE-TMB, LLC, a Delaware limited liability company, TMB-LAKE CHARLES,
LP, a Delaware limited partnership, LONGVIEW-TMB, LP, a Delaware limited partnership, TMB-LUFKIN,
LP, a Delaware limited partnership, VICTORIA-TMB, LP, a Delaware limited partnership, and TMB-I,
LP, a Delaware limited partnership (together with LONGVIEW-TMB, LP, a Delaware limited partnership,
individually or collectively, as the context may require, called “Original Borrower”), (ii) RICHARD
SEGAL, an adult resident of Westchester, New York (“Original Guarantor”) (iii) G&E HC REIT II ALICE
MOB, LLC, G&E HC REIT II CARLSBAD MOB, LLC, G&E HC REIT II HOBBS MOB, LLC, G&E HC REIT II HOPE MOB,
LLC, G&E HC REIT II LAKE CHARLES MOB, LLC, G&E HC REIT II LUFKIN MOB, LLC, G&E HC REIT II VICTORIA
MOB, LLC, and G&E HC REIT II WHARTON MOB, LLC, each a Delaware limited liability company
(collectively and individually, as the context may require, “Substitute Borrower”), (iv) GRUBB &
ELLIS HEALTHCARE REIT II, INC., a Maryland corporation (“Substitute Guarantor”) (all of the
foregoing herein sometimes called “Loan Parties” or “Loan Party”, as the context may require), and
(v) GENERAL ELECTRIC CAPITAL CORPORATION, a Delaware corporation (in its capacity as agent for
Lender, as defined in the hereinafter defined Loan Agreement, together with its successors and
assigns, “Agent”).

STATEMENT OF FACTS:

	A.	 	The following documents, each dated December 29, 2006, except where otherwise indicated, have
previously been executed and delivered to Agent and Lender relating to a loan from Agent and
Lender to Original Borrower in the original principal amount of $43,050,000:

	 	1.	 	Loan Agreement by and among Original Borrower and Agent (as
modified by the hereinafter defined Prior Modification Agreement, the “Original
Loan Agreement”);

	 	2.	 	Modified Promissory Note (Portfolio) dated as of the Effective
Date, made by Original Borrowers to Agent, in the stated principal amount of
$23,238,842.49 (the “Note”);

	 	3.	 	The deeds of trust and mortgages listed and described on
Schedule I attached to and made a part of this Agreement (as modified
by the Prior Modification Agreement, collectively, the “Security Instruments”;
individually referred to in this Agreement by the names given thereto in
Schedule I), covering certain real and personal property described
therein (the “Property”);

	 	4.	 	The assignments of leases and rents listed and described on
Schedule I attached to and made a part of this Agreement (as modified
by the Prior Modification Agreement, collectively, the “ALRs”; individually
referred to in this Agreement by the names given thereto in Schedule
I), covering the Property;

	 	5.	 	The Collateral Assignments of Lease Guaranty listed and
described on Schedule I attached to and made a part of this Agreement
(as modified by the Prior Modification Agreement, collectively, the “Collateral
Assignments”);

	 	6.	 	The Subordination, Nondisturbance, Attornment, and
Lessee-Lessor Estoppel Agreements listed and described on Schedule I
attached to and made a part of this Agreement (as modified from time to time,
collectively, the “SNDAs”);

	 	7.	 	The Agreements Regarding Ground Lease listed and described on
Schedule I attached to and made a part of this Agreement (as modified
from time to time, collectively, the “ARGLs”); and

	 	8.	 	The Hazardous Materials Indemnity Agreement executed by
Original Borrower and Original Guarantor to and for the benefit of Agent (as
modified by the Prior Modification Agreement, the “Indemnity Agreement”);

the instruments described above and all other documents evidencing, securing, or otherwise
executed prior to the Effective Date in connection with the Loan, as amended from time to
time, including (but not limited to) by the Prior Modification Agreement, being herein
collectively called the “Original Loan Documents”. The Original Loan Documents, as modified
by this Agreement, together with the hereinafter defined Loan Agreement and Substitute
Guaranty and any other documents executed or delivered by Substitute Borrower and/or
Substitute Guarantor in connection with the transactions contemplated by this Agreement, are
herein collectively called the “Loan Documents”.

	B.	 	Original Guarantor has guaranteed certain obligations of Original Borrower with respect to
the Loan pursuant to an Agreement of Principal in favor of Agent and Lender dated of even date
with the Original Loan Agreement (the “Original Guaranty”).

	C.	 	Original Borrower, Original Guarantor, and Agent have previously entered into that certain
First Modification Agreement (the “Prior Modification Agreement”), dated as of the Effective
Date, to be recorded in the real property records of each county in which a Security
Instrument was recorded.

	D.	 	Loan Parties have requested that Agent consent to (1) Original Borrower’s conveyance of its
entire interest in the Property to Substitute Borrower; (2) the release of Original Borrower
from all liability under the Loan Documents for matters arising from and after the Effective
Date; and (3) the release of Original Guarantor from all liability under the Original Guaranty
for matters arising from and after the Effective Date, and Agent is willing to do so on the
terms and conditions set forth in this Agreement.

	E.	 	Contemporaneously with the execution and delivery of this Agreement:

	 	1.	 	Original Borrower has sold and conveyed to Substitute Borrower,
effective as of the Effective Date, the Property, which comprises a portion of the
Loan collateral described in the Original Loan Agreement, but excluding the
Longview Project (as defined in the Original Loan Agreement), ownership of which
was retained by Longview-TMB, LP;

	 	2.	 	Substitute Borrower, Agent, and Lender have entered into that certain
Amended and Restated Loan Agreement of even date herewith (the “Loan Agreement”)
setting forth certain of the terms and conditions of the loan evidenced by the Note
(the “Loan”), which Loan Agreement amends and restates in its entirety, and
supersedes and replaces with respect to the Property, the Original Loan Agreement;

	 	3.	 	Substitute Borrower has entered into that certain Contribution
Agreement, dated as of the Effective Date, concerning liabilities with respect to
the Loan (the “Contribution Agreement”); and

	 	4.	 	Substitute Guarantor has guaranteed certain obligations of Substitute
Borrower pursuant to the Agreement of Principal dated as of the Effective Date in
favor of Agent (the “Substitute Guaranty”).

	F.	 	Contemporaneously with the execution and delivery of this Agreement:

	 	1.	 	Longview-TMB, LP, a Delaware limited partnership (the “Seavest Longview
Borrower”), has retained ownership of that certain portion of the collateral under
the Original Loan Documents located in Longview, Texas, and described in Exhibit
A-7 attached to the Original Loan Agreement (the “Longview Project”); and

	 	2.	 	The Seavest Longview Borrower, Agent, and Lender have entered into that
certain Amended and Restated Loan Agreement (Longview, Texas) dated as of the
Effective Date, which Amended and Restated Loan Agreement amends and restates in
its entirety, and supersedes and replaces with respect to the Longview Project, the
Original Loan Agreement.

AGREEMENTS:

For and in consideration of the mutual covenants contained herein and for other valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto
agree as follows:

1. Defined Terms. Capitalized terms not otherwise defined herein shall have the same
definition as set forth in the Loan Agreement. This Agreement constitutes a “Loan Document” as such
term is defined in the Loan Agreement.

2. Consent to Transfer to Substitute Borrower. Agent hereby consents to Original
Borrower’s transfer of its entire interest in the Property to Substitute Borrower and waives its
option to accelerate the indebtedness evidenced by the Note or to otherwise declare an Event of
Default (as defined in the Original Loan Agreement) on account of such transfer. The foregoing
consent is made without prejudice to Agent’s or Lender’s rights with respect to any further
conveyance of the Property or any interest therein. Agent and Loan Parties expressly acknowledge
that the Longview Project has not been acquired by Substitute Borrower and is not subject to the
Loan Documents.

3. Assumption of Obligations by Substitute Borrower. Substitute Borrower hereby
assumes and promises to keep and perform all covenants and obligations in the Loan Documents
originally to be performed by Original Borrower. For purposes of clarity, such assumed covenants
and obligations expressly exclude any covenants and obligations relating to the Longview Project.

4. Assumption of Indemnity Agreement by Substitute Borrower and Substitute Guarantor.
Each of Substitute Borrower and Substitute Guarantor hereby assumes and promises to keep and
perform all covenants and obligations in the Indemnity Agreement (as modified by this Agreement)
originally to be performed by Original Borrower and/or Original Guarantor (as applicable). For
purposes of clarity, such assumed covenants and obligations expressly exclude any covenants and
obligations relating to the Longview Project.

5. Release of Original Borrower. Lender hereby agrees that Original Borrower shall
have no obligation or liability under the Loan Documents from and after the Effective Date,
provided that such release (a) shall not cover any such obligation or liability accruing under the
Original Loan Documents up to and including the Effective Date or any of Original Borrower’s
obligations contained in this Agreement and (b) shall not be deemed to release the Seavest Longview
Borrower from any obligations or liabilities with respect to the Longview Project. Notwithstanding
anything to the contrary contained in the Original Loan Documents or this Agreement, if Agent,
Lender, and Substitute Borrower elect to extend the Maturity Date of the Loan beyond December 28,
2011, from and after December 28, 2011, Original Borrower shall have no liability for loss suffered
by Lender on account of Lender’s failure to receive full payment of principal and interest due
under the Note, even if such loss is alleged to have resulted from Original Borrower’s failure to
perform its obligations under the Original Loan Documents prior to the Effective Date.

6. Acceptance of Substitute Guaranty and Release of Original Guarantor. Lender hereby
acknowledges receipt of the Substitute Guaranty. Original Guarantor shall have no obligation or
liability under the Original Guaranty or the Indemnity Agreement from and after the Effective Date,
provided that such release shall not cover any such obligation or liability accruing up to and
including the Effective Date or any of Original Guarantor’s obligations contained in this
Agreement. Notwithstanding anything to the contrary contained in the Original Loan Documents or
this Agreement, if Agent, Lender, and Substitute Borrower elect to extend the Maturity Date of the
Loan beyond December 28, 2011, from and after December 28, 2011, Original Guarantor shall have no
liability for loss suffered by Lender on account of Lender’s failure to receive full payment of
principal and interest due under the Note, even if such loss is alleged to have resulted from
Original Borrower’s failure to perform its obligations under the Original Loan Documents prior to
the Effective Date.

7. Loan Balance. Substitute Borrower, Substitute Guarantor, and Lender hereby
acknowledge that the unpaid principal balance of the Note as of the Effective Date is
$23,238,842.49, with interest paid up to and including May 1, 2011. The Loan has been fully funded,
and no amounts remain available for disbursement under the Loan Documents.

8. Modification of Loan Documents. From and after the Effective Date, all references
in the Loan Documents to:

	 	(a)	 	Except as set forth in Section 9 below, “Borrower” shall mean
and refer to Substitute Borrower;

	 	(b)	 	“Initial Funding Note,” “Note,” or “Notes” shall mean and refer
to the Note;

	 	(c)	 	“Agreement of Principal” shall mean and refer to the Substitute
Guaranty;

	 	(d)	 	“Loan Agreement” shall mean and refer to the Loan Agreement;

	 	(e)	 	“Loan Documents” shall mean and refer to the Loan Documents as
defined in the Loan Agreement;

	 	(f)	 	“Maker” shall mean and refer to Substitute Borrower; and

	 	(g)	 	“Principal” shall mean and refer to Substitute Guarantor.

9. Assumption of Property-Specific Documents. Effective as of the Effective Date:

(a) G&E HC REIT II Alice MOB, LLC, assumes and agrees to be bound by the terms and
provisions of, the Alice Deed of Trust, the Alice ALR, and the Alice ARGL, and the terms
“Borrower” (as used in the Alice Deed of Trust), “Assignor” (as used in the Alice ALR), and
“Tenant” (as used in the Alice ARGL) shall mean and refer to G&E HC REIT II Alice MOB, LLC.

(b) G&E HC REIT II Carlsbad MOB, LLC, assumes and agrees to be bound by the terms and
provisions of, the Carlsbad Mortgage, the Carlsbad ALR, and the Carlsbad ARGL, and the terms
“Borrower” (as used in the Carlsbad Mortgage), “Assignor” (as used in the Carlsbad ALR), and
“Tenant” (as used in the Carlsbad ARGL) shall mean and refer to G&E HC REIT II Carlsbad MOB,
LLC.

(c) G&E HC REIT II Hobbs MOB, LLC, assumes and agrees to be bound by the terms and
provisions of, the Hobbs Mortgage, the Hobbs ALR, the Hobbs ARGL, and the Hobbs SNDA, and
the terms “Borrower” (as used in the Hobbs Mortgage), “Assignor” (as used in the Hobbs ALR),
“Tenant” (as used in the Hobbs ARGL), and “Lessor” (as used in the Hobbs SNDA) shall mean
and refer to G&E HC REIT II Hobbs MOB, LLC.

(d) G&E HC REIT II Hope MOB, LLC, assumes and agrees to be bound by the terms and
provisions of, the Hope Mortgage, the Hope ALR, the Hope Guaranty Assignment, the Hope ARGL,
and the Hope SNDA, and the terms “Borrower” (as used in the Hope Mortgage and the Hope
Guaranty Assignment), “Assignor” (as used in the Hope ALR), “Tenant” (as used in the Hope
ARGL), and “Lessor” (as used in the Hope SNDA) shall mean and refer to G&E HC REIT II Hope
MOB, LLC.

(e) G&E HC REIT II Lake Charles MOB, LLC, assumes and agrees to be bound by the terms
and provisions of, the Lake Charles Mortgage, the Lake Charles ALR, the Lake Charles ARGL,
and the Lake Charles SNDA, and the terms “Borrower” (as used in the Lake Charles Mortgage),
“Assignor” (as used in the Lake Charles ALR), “Tenant” (as used in the Lake Charles ARGL),
and “Lessor” (as used in the Lake Charles SNDA) shall mean and refer to G&E HC REIT II Lake
Charles MOB, LLC.

(f) G&E HC REIT II Lufkin MOB, LLC, assumes and agrees to be bound by the terms and
provisions of, the Lufkin Deed of Trust, the Lufkin ALR, the Lufkin ARGL, and the Lufkin
SNDA, and the terms “Borrower” (as used in the Lufkin Deed of Trust), “Assignor” (as used in
the Lufkin ALR), “Tenant” (as used in the Lufkin ARGL), and “Lessor” (as used in the Lufkin
SNDA) shall mean and refer to G&E HC REIT II Lufkin MOB, LLC.

(g) G&E HC REIT II Victoria MOB, LLC, assumes and agrees to be bound by the terms and
provisions of, the Victoria Deed of Trust, the Victoria ALR, the Victoria Guaranty
Assignment, the Victoria ARGL, and the Victoria SNDA, and the terms “Borrower” (as used in
the Victoria Deed of Trust and the Victoria Guaranty Assignment), “Assignor” (as used in the
Victoria ALR), “Tenant” (as used in the Victoria ARGL), and “Lessor” (as used in the
Victoria SNDA) shall mean and refer to G&E HC REIT II Victoria MOB, LLC.

(h) G&E HC REIT II Wharton MOB, LLC, assumes and agrees to be bound by the terms and
provisions of, the Wharton Deed of Trust, the Wharton ALR, the Wharton ARGL, and the Wharton
SNDA, and the terms “Borrower” (as used in the Wharton Deed of Trust), “Assignor” (as used
in the Wharton ALR), “Tenant” (as used in the Wharton ARGL), and “Lessor” (as used in the
Wharton SNDA) shall mean and refer to G&E HC REIT II Wharton MOB, LLC.

10. Modification of Security Instruments. Effective as of the Effective Date,
each Security Instrument is modified as follows:

Section 10.1. Recital A is deleted in its entirety and replaced with the following:

“A. Lender has agreed, subject to the terms and conditions of that
certain Amended and Restated Loan Agreement (Portfolio) dated as of May 12,
2011 (as amended from time to time, the “Loan Agreement”), executed by and
among Borrower, certain affiliates of Borrower (together with Borrower, the
“Borrower Parties” and each individually, a “Borrower Party”), General
Electric Capital Corporation, a Delaware corporation (in its individual
capacity as a lender (“GECC”)) and the other financial institutions who are
or hereafter become parties to the Loan Agreement (together with GECC,
collectively or individually, as the context may require, “Lender”) and
Agent, as agent for Lender, to make a loan (the “Loan”) to the Borrower
Parties in the stated principal amount of up to Twenty-Three Million Two
Hundred Thirty-Eight Thousand Eight Hundred Forty-Two and 49/100 Dollars
($23,238,842.49). The Loan is evidenced by that certain Modified Promissory
Note (Portfolio) dated as of May 12, 2011 (together with all amendments
thereto and substitutions therefor, the “Note”) in the original principal
amount of Twenty-Three Million Two Hundred Thirty-Eight Thousand Eight
Hundred Forty-Two and 49/100 Dollars ($23,238,842.49), providing for monthly
payments as set forth in the Loan Agreement, with the balance thereof, due
and payable on December 28, 2011 (said date or any earlier date on which the
entire unpaid principal amount shall be paid or required to be paid in full,
whether by prepayment, acceleration or otherwise is hereinafter called the
“Maturity Date”). The terms and provisions of the Loan Agreement and Note
are hereby incorporated by reference in this Deed of Trust. Capitalized
terms used but not defined herein shall have the meanings provided in the
Loan Agreement.”

Section 10.2. Section 11 is deleted in its entirety and replaced with the following:

“11. Transfers of the Property or Interests in Borrower.
Borrower shall not (a) create or permit the creation of any new ownership
interest in Borrower or G&E HC REIT II DIXIE-LOBO MOB PORTFOLIO, LLC, a
Delaware limited liability company (“Borrower Sole Member”) or Principal or
(b) sell, transfer, encumber, convey or otherwise dispose of (or permit any
of the foregoing) (i) all or any part of the Land or the Improvements, or
any interest therein or (ii) any direct or indirect ownership interest in
Borrower or Borrower Sole Member or Principal (including any interest in the
profits, losses or cash distributions in any way relating to the Property or
Borrower or Borrower Sole Member). Intestate transfers or transfers by
devise or estate planning transfers to trusts, the beneficiaries of which
are family members of the transferor, shall not constitute a transfer for
the purposes of the foregoing provisions. In addition, the provisions of
this [Deed of Trust/Mortgage (as applicable)] shall be subject at all times
to the transfer restrictions contained in the Loan Agreement.
Notwithstanding any provision to the contrary contained in this instrument
or in the Loan Agreement, the following transfers are hereby permitted
without Agent’s or Lender’s consent but only if (1) any such
transfer would not result in an Event of Default under the Ground Lease, and
(2) any such transfer would be in compliance with Sections 4.27 and
5.10 of the Loan Agreement, and (3) following any such transfer,
Grubb & Ellis Healthcare REIT II Advisor, LLC, will remain the advisor of
Principal, unless Agent and Lender consent in writing to the appointment of
a new advisor, which consent may be given or withheld in Agent’s and
Lender’s sole discretion:

(A) The transfer or issuance of securities or shares of Principal
involving forty-nine percent (49%) or less of the securities or shares of
Principal in a single transaction or coordinated series of transactions; and

(B) The transfer of limited partnership interests in G&E Holdings,
provided that Principal (i) remains the sole general partner of G&E
Holdings, and (ii) Controls G&E Holdings. As used in this paragraph,
“Controls” means the power to direct the management and policies of G&E
Holdings, directly or indirectly, whether through the ownership of voting
securities or other beneficial interests, by contract or otherwise.

Borrower or Principal will notify Agent in writing of any transfer permitted
under (A) or (B) above within ten (10) business days after the consummation
thereof.”

Section 10.3. All references to “Borrower Party” or “Borrower Parties” shall mean and
refer to Substitute Borrower.

11. Modification of ALRs. Effective as of the Effective Date, the definition of “Loan
Agreement” in each ALR is deleted in its entirety and replaced with the following:

““Loan Agreement”: The Amended and Restated Loan Agreement dated as of May 12,
2011, between Assignor (and certain affiliates of Assignor) and Assignee evidencing
that certain loan of $23,238,842.49 (the “Loan”) from Assignee to Assignor and such
affiliates of Assignor, as amended from time to time;”

12. Modification of Indemnity Agreement. Effective as of the Effective Date, the
Indemnity Agreement is modified as follows:

Section 12.1. The term “Project” in Recital A is modified to exclude the Longview
Project, and the Longview Legal Description is deleted in its entirety from Exhibit A
attached thereto. Notwithstanding anything contained in the Indemnity Agreement, from and
after the Effective Date the Indemnity Agreement shall not apply to the Longview Project,
and Substitute Borrower and Substitute Guarantor shall have no obligation and incur no
liability with respect to the Longview Project.

Section 12.2. Recitals B and C are deleted in their entirety and replaced with the
following:

“B. Borrower has entered into that certain Amended and Restated Loan
Agreement dated as of May 12, 2011 (and as amended from time to time, the
“Loan Agreement”) with GECC and the other financial institutions who are or
hereafter may become parties thereto as lenders (together with GECC,
collectively or individually, as the context may require, the “Lender”) and
Agent, pursuant to which Lender has confirmed a loan to Borrower in the
principal sum of $23,238,842.49 (the “Loan”).”

“C. To evidence the Loan, Borrower’s predecessor in interest has
executed and delivered to Agent, and Borrower has assumed all obligations
with respect to payment and performance of, that certain Modified Promissory
Note (Portfolio) dated as of May 12, 2011, in the original principal amount
of Twenty-Three Million Two Hundred Thirty-Eight Thousand Eight Hundred
Forty-Two and 49/100 Dollars ($23,238,842.49) (together with all amendments
thereto and substitutions therefor, the “Note”).”

13. Release of Lender. Each of the Loan Parties hereby releases, remises, acquits and
forever discharges Agent and Lender, together with their respective agents, representatives,
consultants, attorneys, fiduciaries, servants, officers, directors, partners, predecessors,
successors and assigns, employees, subsidiary corporations, parent corporations, and related
corporate divisions, past and present (all of the foregoing hereinafter called the “Released
Parties”), from any and all actions and causes of action, judgments, executions, suits, debts,
claims, demands, liabilities, obligations, damages and expenses of any and every character, known
or unknown, direct and/or indirect, at law or in equity, of whatsoever kind or nature, whether
heretofore or hereafter accruing, for or because of any matter or things done, omitted or suffered
to be done by any of the Released Parties (but not for the gross negligence or willful misconduct
of any of the Released Parties) prior to and including the date hereof, and in any way directly or
indirectly arising out of or in any way connected to the Original Loan Documents, this Agreement,
or any Loan Document, or any of the transactions associated therewith, or the Property, including
specifically but not limited to claims of usury, lack of consideration, fraudulent conveyance and
lender liability. THE FOREGOING RELEASE INCLUDES ACTIONS AND CAUSES OF ACTION, JUDGMENTS,
EXECUTIONS, SUITS, DEBTS, CLAIMS, DEMANDS, LIABILITIES, OBLIGATIONS, DAMAGES, AND EXPENSES ARISING
AS A RESULT OF THE NEGLIGENCE OF ONE OR MORE OF THE RELEASED PARTIES.

14. Representations of Substitute Borrower. Each Substitute Borrower hereby represents
and warrants that (a) as of the Effective Date, Substitute Borrower is the lawful owner of good and
indefeasible title to the Property; (b) the Loan Documents to which Substitute Borrower is a party
and this Agreement constitute Substitute Borrower’s legal, valid, and binding obligations,
enforceable in accordance with their terms, subject to bankruptcy, insolvency, reorganization,
fraudulent conveyance, moratorium and other laws applicable to creditors’ rights or the collection
of debtors’ obligations generally; (c) Substitute Borrower’s execution and delivery of this
Agreement do not contravene, result in a breach of, or constitute a default under any deed of
trust, deed to secure debt, mortgage, loan agreement, indenture or other contract, agreement, or
undertaking to which Substitute Borrower is a party or by which Substitute Borrower or any of its
properties may be bound (nor would such execution and delivery constitute such a default with the
passage of time or the giving of notice or both) and do not violate or contravene any law, order,
decree, rule or regulation to which Substitute Borrower is subject; (d) to Substitute Borrower’s
actual knowledge, there exists no uncured default under the Loan Documents; (e) to the best of
Substitute Borrower’s knowledge, there are no offsets, claims, or defenses to the Loan Documents;
and (f) each Substitute Borrower is currently duly organized and legally existing under the laws of
its state of organization and is qualified to do business in the state where the Property is
located.

15. Representations of Substitute Guarantor. Substitute Guarantor hereby represents
and warrants that (a) the Loan Documents to which Substitute Guarantor is a party and this
Agreement constitute Substitute Guarantor’s legal, valid, and binding obligations, enforceable in
accordance with their terms, subject to bankruptcy, insolvency, reorganization, fraudulent
conveyance, moratorium and other laws applicable to creditors’ rights or the collection of debtors’
obligations generally; (b) Substitute Guarantor’s execution and delivery of this Agreement, the
Substitute Guaranty, and the Indemnity Agreement do not contravene, result in a breach of, or
constitute a default under any deed of trust, deed to secure debt, mortgage, loan agreement,
indenture or other contract, agreement, or undertaking to which Substitute Guarantor is a party or
by which Substitute Guarantor or any of its properties may be bound (nor would such execution and
delivery constitute such a default with the passage of time or the giving of notice or both) and do
not violate or contravene any law, order, decree, rule or regulation to which Substitute Guarantor
is subject; (c) to Substitute Guarantor’s actual knowledge, there exists no uncured default under
the Loan Documents; and (d) to the best of Substitute Guarantor’s knowledge, there are no offsets,
claims, or defenses to the Loan Documents.

16. Representations of Original Borrower and Original Guarantor. Each Original
Borrower and Original Guarantor hereby represents and warrants that (a) to the best of Original
Borrower’s and Original Guarantor’s knowledge, after reasonable inquiry, there exists no uncured
default under the Loan Documents; and (b) there are no offsets, claims, or defenses to the Loan
Documents. Original Borrower further represents to Agent and Substitute Borrower that Signature
Medical Park Hospital, LLC (the “Hope Master Tenant”) is delinquent in the payment of certain
rental obligations under the Master Lease between Hope-TMB, LLC, and Hope Master Tenant (the “Hope
Master Lease”). Under the terms of the Hope Master Lease, such rental delinquencies do not
constitute an Event of Default under the Loan Documents unless notice of default is given by the
master lessor under the Hope Master Lease to the Hope Master Tenant, and the Hope Master Tenant
thereafter fails to cure such default within the applicable notice and cure period provided for in
the Hope Master Lease, which notice of default Original Borrower has not delivered to the Hope
Master Tenant.

17. Representations, Acknowledgments, and Waiver of Agent. Agent represents and
warrants that (a) the documents listed on Schedule I attached to and made a part of this
Agreement comprise all of the Loan Documents in effect as of the Effective Date that are being
assumed by Substitute Borrower; (b) Agent has no actual current knowledge that any uncured Event of
Default currently exists under the Loan Documents; (c) Lender is the owner and holder of the Note;
(d) Agent has full power and authority to execute and deliver this Agreement; and (e) the person
executing this Agreement on Agent’s behalf is duly authorized to do so. Agent hereby acknowledges
that pursuant to deliveries made by Original Borrower and/or Substitute Borrower on or before the
Effective Date, any breaches of Sections 5.18 and 5.20 of the Original Loan Agreement, and the
corresponding provisions of the ARGLs, have been cured (collectively, the “Cured Breaches”). Agent
hereby waives its right to enforce any of its rights and remedies under the Loan Documents or the
Original Loan Documents with respect to the Cured Breaches. Such waiver on Agent’s part is made
without prejudice to Agent’s rights to enforce any of its rights and remedies under the Loan
Documents or the Original Loan Documents in connection with any other existing or future Event of
Default.

18. Additional Documentation. Loan Parties, upon request from Agent, agree to execute
such other and further documents as may be reasonably necessary or appropriate to consummate the
transactions contemplated herein or to perfect the liens and security interests intended to secure
the payment of the Loan.

19. Legal Opinion. As a condition to Agent’s execution of this Agreement, Substitute
Borrower shall cause to be delivered to Agent a legal opinion of counsel for Loan Parties in form
and substance as Agent may require.

20. Recordation; Endorsement of Loan Title Policy. Contemporaneously herewith, Agent
will deliver this Agreement for recording in the appropriate records of each county where the
Property is located at Substitute Borrower’s expense and Substitute Borrower will, at its sole cost
and expense, obtain and deliver to Agent new loan policies of title insurance as required under the
Loan Agreement and/or endorsements to Agent’s existing loan policies of title insurance insuring
the lien of the Security Instruments, as modified hereby, and otherwise in form and content
acceptable to Agent.

21. Ratification of Loan Documents. Except as provided herein, the terms and
provisions of the Loan Documents shall remain unchanged and shall remain in full force and effect.
The Loan Documents, as modified and amended hereby, are hereby ratified and confirmed in all
respects. All liens, security interests, mortgages and assignments granted or created by or
existing under the Loan Documents continue, unabated, in full force and effect, to secure
Substitute Borrower’s obligation to repay the Note. All references in any of the Loan Documents to
a Loan Document shall hereafter refer to such Loan Document as amended by this Agreement.

22. Integration. This Agreement supersedes and merges all prior and contemporaneous
promises, representations and agreements with respect to the matters set forth herein. No
modification of this Agreement or any waiver of rights hereunder shall be effective unless made by
supplemental agreement, in writing, executed by Agent and Loan Parties. Agent and Loan Parties
further agree that this Agreement may not in any way be explained or supplemented by a prior,
existing or future course of dealings between the parties or by any prior, existing, or future
performance between the parties pursuant to this Agreement or otherwise.

23. Costs and Expenses. Contemporaneously with the execution and delivery of this
Agreement and as a condition to its effectiveness, Substitute Borrower and/or Original Borrower
shall pay, or cause to be paid, all costs and expenses incident to the preparation hereof and the
consummation of the transactions specified herein, including without limitation title insurance
policy endorsement charges, recording fees, and fees and expenses of legal counsel to Agent.

24. Severability. If any covenant, condition, or provision herein contained is held to
be invalid by final judgment of any court of competent jurisdiction, the invalidity of such
covenant, condition, or provision shall not in any way affect any other covenant, condition, or
provision herein contained.

25. Time of the Essence. It is expressly agreed by the parties hereto that time is of
the essence with respect to this Agreement.

26. Counterparts. This Agreement may be executed in any number of counterparts with
the same effect as if all parties hereto had signed the same document. All such counterparts shall
be construed together and shall constitute one instrument, but in making proof hereof it shall only
be necessary to produce one such counterpart.

27. Successors and Assigns. The terms and provisions hereof shall be binding upon and
inure to the benefit of the parties hereto, their successors and assigns.

28. APPLICABLE LAW. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE
WITH THE INTERNAL LAWS OF THE STATE OF ILLINOIS EXCEPT THAT THE PROVISIONS OF THE LAWS OF THE
JURISDICTION IN WHICH THE PROPERTY IS LOCATED SHALL BE APPLICABLE TO THE CREATION, PERFECTION, AND
ENFORCEMENT OF THE LIENS CREATED BY THE SECURITY INSTRUMENTS ON ALL (A) REAL PROPERTY (INCLUDING
IMPROVEMENTS, APPURTENANCES AND THE RENTS, ISSUES, AND PROFITS OF REAL PROPERTY) AND (B) EXCEPT AS
OTHERWISE PROVIDED BY THE UNIFORM COMMERCIAL CODE, PERSONAL PROPERTY. THE INVALIDITY, ILLEGALITY,
OR UNENFORCEABILITY OF ANY PROVISION OF THIS AGREEMENT SHALL NOT AFFECT OR IMPAIR THE VALIDITY,
LEGALITY, OR ENFORCEABILITY OF THE REMAINDER OF THIS AGREEMENT, AND TO THIS END, THE PROVISIONS OF
THIS AGREEMENT ARE DECLARED TO BE SEVERABLE.

29. Notice of Final Agreement. Loan Parties and Agent hereby take notice of and agree
to the following: THE LOAN DOCUMENTS AND THIS AGREEMENT REPRESENT THE FINAL AGREEMENT BETWEEN THE
PARTIES THERETO AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT
ORAL AGREEMENTS OF THE PARTIES THERETO. THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES.

IN WITNESS WHEREOF, Loan Parties and Agent have executed this Agreement on the respective
dates of acknowledgment, to be effective as of the Effective Date.

[Remainder of page intentionally left blank; signature pages follow]

Substitute Alice Borrower’s Signature Page (1 of 8) for

Assumption and Modification Agreement

(Portfolio)

G&E HC REIT II ALICE MOB, LLC,

a Delaware limited liability company

By: G&E HC REIT II Dixie-Lobo MOB Portfolio, LLC,

a Delaware limited liability company, its Sole Member

By: Grubb & Ellis Healthcare REIT II Holdings, LP,

a Delaware limited partnership, its Sole Member

By: Grubb & Ellis Healthcare REIT II, Inc.,

a Maryland corporation, its General Partner

By: /s/ Shannon K S Johnson

Name: Shannon K S Johnson

Title: Chief Financial Officer

Witnesses:

/s/ Rex Morishita

Printed Name: Rex Morishita

/s/ Brian McDonald

Printed Name: Brian McDonald

NOTE: Notary Public may not serve as a witness

CALIFORNIA ALL PURPOSE NOTARY ACKNOWLEDGMENT

FOLLOWS THIS PAGE

ACKNOWLEDGEMENT

	 	 	 	 	 
	STATE OF CALIFORNIA

COUNTY OF ORANGE

	 	§

§

§
	 	

SS.

On May 10, 2011 before me, P.C. Han, Notary Public, personally appeared Shannon K S Johnson,
who proved to me on the basis of satisfactory evidence to be the person whose name is subscribed to
the within instrument and acknowledged to me that he executed the same in his authorized capacity,
and that by his signature on the instrument the person, or the entity upon behalf of which person
acted, executed the instrument.

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

WITNESS my hand and official seal.

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

My commission expires: June 25, 2011

Witnesses:

/s/ Rex Morishita

Printed Name: Rex Morishita

/s/ Brian McDonald

Printed Name: Brian McDonald

Substitute Carlsbad Borrower’s Signature Page (2 of 8) for

Assumption and Modification Agreement

(Portfolio)

G&E HC REIT II CARLSBAD MOB, LLC,

a Delaware limited liability company

By: G&E HC REIT II Dixie-Lobo MOB Portfolio, LLC,

a Delaware limited liability company, its Sole Member

By: Grubb & Ellis Healthcare REIT II Holdings, LP,

a Delaware limited partnership, its Sole Member

By: Grubb & Ellis Healthcare REIT II, Inc.,

a Maryland corporation, its General Partner

By: /s/ Shannon K S Johnson

Name: Shannon K S Johnson

Title: Chief Financial Officer

Witnesses:

/s/ Rex Morishita

Printed Name: Rex Morishita

/s/ Brian McDonald

Printed Name: Brian McDonald

NOTE: Notary Public may not serve as a witness

CALIFORNIA ALL PURPOSE NOTARY ACKNOWLEDGMENT

FOLLOWS THIS PAGE

ACKNOWLEDGEMENT

	 	 	 	 	 
	STATE OF CALIFORNIA

COUNTY OF ORANGE

	 	§

§

§
	 	

SS.

On May 10, 2011 before me, P.C. Han, Notary Public, personally appeared Shannon K S Johnson,
who proved to me on the basis of satisfactory evidence to be the person whose name is subscribed to
the within instrument and acknowledged to me that he executed the same in his authorized capacity,
and that by his signature on the instrument the person, or the entity upon behalf of which person
acted, executed the instrument.

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

WITNESS my hand and official seal.

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

My commission expires: June 25, 2011

Substitute Hobbs Borrower’s Signature Page (3 of 8) for

Assumption and Modification Agreement

(Portfolio)

G&E HC REIT II HOBBS MOB, LLC,

a Delaware limited liability company

By: G&E HC REIT II Dixie-Lobo MOB Portfolio, LLC,

a Delaware limited liability company, its Sole Member

By: Grubb & Ellis Healthcare REIT II Holdings, LP,

a Delaware limited partnership, its Sole Member

By: Grubb & Ellis Healthcare REIT II, Inc.,

a Maryland corporation, its General Partner

By: /s/ Shannon K S Johnson

Name: Shannon K S Johnson

Title: Chief Financial Officer

Witnesses:

/s/ Rex Morishita

Printed Name: Rex Morishita

/s/ Brian McDonald

Printed Name: Brian McDonald

NOTE: Notary Public may not serve as a witness

CALIFORNIA ALL PURPOSE NOTARY ACKNOWLEDGMENT

FOLLOWS THIS PAGE

ACKNOWLEDGEMENT

	 	 	 	 	 
	STATE OF CALIFORNIA

COUNTY OF ORANGE

	 	§

§

§
	 	

SS.

On May 10, 2011 before me, P.C. Han, Notary Public, personally appeared Shannon K S Johnson,
who proved to me on the basis of satisfactory evidence to be the person whose name is subscribed to
the within instrument and acknowledged to me that he executed the same in his authorized capacity,
and that by his signature on the instrument the person, or the entity upon behalf of which person
acted, executed the instrument.

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

WITNESS my hand and official seal.

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

My commission expires: June 25, 2011

Substitute Hope Borrower’s Signature Page (4 of 8) for

Assumption and Modification Agreement

(Portfolio)

G&E HC REIT II HOPE MOB, LLC,

a Delaware limited liability company

By: G&E HC REIT II Dixie-Lobo MOB Portfolio, LLC,

a Delaware limited liability company, its Sole Member

By: Grubb & Ellis Healthcare REIT II Holdings, LP,

a Delaware limited partnership, its Sole Member

By: Grubb & Ellis Healthcare REIT II, Inc.,

a Maryland corporation, its General Partner

By: /s/ Shannon K S Johnson

Name: Shannon K S Johnson

Title: Chief Financial Officer

Witnesses:

/s/ Rex Morishita

Printed Name: Rex Morishita

/s/ Brian McDonald

Printed Name: Brian McDonald

NOTE: Notary Public may not serve as a witness

CALIFORNIA ALL PURPOSE NOTARY ACKNOWLEDGMENT

FOLLOWS THIS PAGE

ACKNOWLEDGEMENT

	 	 	 	 	 
	STATE OF CALIFORNIA

COUNTY OF ORANGE

	 	§

§

§
	 	

SS.

On May 10, 2011 before me, P.C. Han, Notary Public, personally appeared Shannon K S Johnson,
who proved to me on the basis of satisfactory evidence to be the person whose name is subscribed to
the within instrument and acknowledged to me that he executed the same in his authorized capacity,
and that by his signature on the instrument the person, or the entity upon behalf of which person
acted, executed the instrument.

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

WITNESS my hand and official seal.

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

My commission expires: June 25, 2011

Substitute Lake Charles Borrower’s Signature Page (5 of 8) for

Assumption and Modification Agreement

(Portfolio)

G&E HC REIT II LAKE CHARLES MOB, LLC,

a Delaware limited liability company

By: G&E HC REIT II Dixie-Lobo MOB Portfolio, LLC,

a Delaware limited liability company, its Sole Member

By: Grubb & Ellis Healthcare REIT II Holdings, LP,

a Delaware limited partnership, its Sole Member

By: Grubb & Ellis Healthcare REIT II, Inc.,

a Maryland corporation, its General Partner

By: /s/ Shannon K S Johnson

Name: Shannon K S Johnson

Title: Chief Financial Officer

Witnesses:

/s/ Rex Morishita

Printed Name: Rex Morishita

/s/ Brian McDonald

Printed Name: Brian McDonald

NOTE: Notary Public may not serve as a witness

CALIFORNIA ALL PURPOSE NOTARY ACKNOWLEDGMENT

FOLLOWS THIS PAGE

ACKNOWLEDGEMENT

	 	 	 	 	 
	STATE OF CALIFORNIA

COUNTY OF ORANGE

	 	§

§

§
	 	

SS.

On May 10, 2011 before me, P.C. Han, Notary Public, personally appeared Shannon K S Johnson,
who proved to me on the basis of satisfactory evidence to be the person whose name is subscribed to
the within instrument and acknowledged to me that he executed the same in his authorized capacity,
and that by his signature on the instrument the person, or the entity upon behalf of which person
acted, executed the instrument.

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

WITNESS my hand and official seal.

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

My commission expires: June 25, 2011

Substitute Lufkin Borrower’s Signature Page (6 of 8) for

Assumption and Modification Agreement

(Portfolio)

G&E HC REIT II LUFKIN MOB, LLC,

a Delaware limited liability company

By: G&E HC REIT II Dixie-Lobo MOB Portfolio, LLC,

a Delaware limited liability company, its Sole Member

By: Grubb & Ellis Healthcare REIT II Holdings, LP,

a Delaware limited partnership, its Sole Member

By: Grubb & Ellis Healthcare REIT II, Inc.,

a Maryland corporation, its General Partner

By: /s/ Shannon K S Johnson

Name: Shannon K S Johnson

Title: Chief Financial Officer

Witnesses:

/s/ Rex Morishita

Printed Name: Rex Morishita

/s/ Brian McDonald

Printed Name: Brian McDonald

NOTE: Notary Public may not serve as a witness

CALIFORNIA ALL PURPOSE NOTARY ACKNOWLEDGMENT

FOLLOWS THIS PAGE

ACKNOWLEDGEMENT

	 	 	 	 	 
	STATE OF CALIFORNIA

COUNTY OF ORANGE

	 	§

§

§
	 	

SS.

On May 10, 2011 before me, P.C. Han, Notary Public, personally appeared Shannon K S Johnson,
who proved to me on the basis of satisfactory evidence to be the person whose name is subscribed to
the within instrument and acknowledged to me that he executed the same in his authorized capacity,
and that by his signature on the instrument the person, or the entity upon behalf of which person
acted, executed the instrument.

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

WITNESS my hand and official seal.

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

My commission expires: June 25, 2011

Substitute Victoria Borrower’s Signature Page (7 of 8) for

Assumption and Modification Agreement

(Portfolio)

G&E HC REIT II VICTORIA MOB, LLC,

a Delaware limited liability company

By: G&E HC REIT II Dixie-Lobo MOB Portfolio, LLC,

a Delaware limited liability company, its Sole Member

By: Grubb & Ellis Healthcare REIT II Holdings, LP,

a Delaware limited partnership, its Sole Member

By: Grubb & Ellis Healthcare REIT II, Inc.,

a Maryland corporation, its General Partner

By: /s/ Shannon K S Johnson

Name: Shannon K S Johnson

Title: Chief Financial Officer

Witnesses:

/s/ Rex Morishita

Printed Name: Rex Morishita

/s/ Brian McDonald

Printed Name: Brian McDonald

NOTE: Notary Public may not serve as a witness

CALIFORNIA ALL PURPOSE NOTARY ACKNOWLEDGMENT

FOLLOWS THIS PAGE

ACKNOWLEDGEMENT

	 	 	 	 	 
	STATE OF CALIFORNIA

COUNTY OF ORANGE

	 	§

§

§
	 	

SS.

On May 10, 2011 before me, P.C. Han, Notary Public, personally appeared Shannon K S Johnson,
who proved to me on the basis of satisfactory evidence to be the person whose name is subscribed to
the within instrument and acknowledged to me that he executed the same in his authorized capacity,
and that by his signature on the instrument the person, or the entity upon behalf of which person
acted, executed the instrument.

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

WITNESS my hand and official seal.

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

My commission expires: June 25, 2011

Substitute Wharton Borrower’s Signature Page (8 of 8) for

Assumption and Modification Agreement

(Portfolio)

G&E HC REIT II WHARTON MOB, LLC,

a Delaware limited liability company

By: G&E HC REIT II Dixie-Lobo MOB Portfolio, LLC,

a Delaware limited liability company, its Sole Member

By: Grubb & Ellis Healthcare REIT II Holdings, LP,

a Delaware limited partnership, its Sole Member

By: Grubb & Ellis Healthcare REIT II, Inc.,

a Maryland corporation, its General Partner

By: /s/ Shannon K S Johnson

Name: Shannon K S Johnson

Title: Chief Financial Officer

	 
	Witnesses:

	/s/ Rex Morishita

Printed Name: Rex Morishita

/s/ Brian McDonald

Printed Name: Brian McDonald

NOTE: Notary Public may not serve as a witness

CALIFORNIA ALL PURPOSE NOTARY ACKNOWLEDGMENT

FOLLOWS THIS PAGE

ACKNOWLEDGEMENT

	 	 	 	 	 
	STATE OF CALIFORNIA

COUNTY OF ORANGE

	 	§

§

§
	 	

SS.

On May 10, 2011 before me, P.C. Han, Notary Public, personally appeared Shannon K S Johnson,
who proved to me on the basis of satisfactory evidence to be the person whose name is subscribed to
the within instrument and acknowledged to me that he executed the same in his authorized capacity,
and that by his signature on the instrument the person, or the entity upon behalf of which person
acted, executed the instrument.

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

WITNESS my hand and official seal.

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

My commission expires: June 25, 2011

Substitute Guarantor’s Signature Page for Assumption and Modification Agreement

(Portfolio)

Grubb & Ellis Healthcare REIT II, Inc.,

a Maryland corporation, its General Partner

By: /s/ Shannon K S Johnson

Name: Shannon K S Johnson

Title: Chief Financial Officer

	 
	Witnesses:

	/s/ Rex Morishita

Printed Name: Rex Morishita

/s/ Brian McDonald

Printed Name: Brian McDonald

NOTE: Notary Public may not serve as a witness

CALIFORNIA ALL PURPOSE NOTARY ACKNOWLEDGMENT

FOLLOWS THIS PAGE

ACKNOWLEDGEMENT

	 	 	 	 	 
	STATE OF CALIFORNIA

COUNTY OF ORANGE

	 	§

§

§
	 	

SS.

On May 10, 2011 before me, P.C. Han, Notary Public, personally appeared Shannon K S Johnson,
who proved to me on the basis of satisfactory evidence to be the person whose name is subscribed to
the within instrument and acknowledged to me that he executed the same in his authorized capacity,
and that by his signature on the instrument the person, or the entity upon behalf of which person
acted, executed the instrument.

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

WITNESS my hand and official seal.

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

My commission expires: June 25, 2011

1

Original Alice Borrower’s Signature Page (1 of 9) for

Assumption and Modification Agreement

(Portfolio)

TMB-ALICE, L.P., a Delaware limited partnership

By: SMP-General Partner, LLC,

a Delaware limited liability company, its General Partner

By: Seavest Properties I, LLC,

a Delaware limited liability company, its Managing Member

By: SP I Manager, LLC,

a Delaware limited liability company, its Managing Member

By: Seavest Inc.,

a New York corporation, its Non-Member Manager

By: /s/ Douglas F. Ray

Name: Douglas F. Ray

Its: President

Witnesses:

/s/ Robin Greeasten

Printed Name: Robin Greeasten

/s/ Catherine Denise

Printed Name: Catherine Denise

	 	 	 
	NOTE: Notary Public may not serve as a witness

	STATE OF NEW YORK

COUNTY OF WESTCHESTER

	 	)

)

)

This instrument was acknowledged before me on May 10, 2011, by Douglas F. Ray, Vice President
of Seavest Inc., a New York corporation, in its capacity as Non-Member Manager of SMP Manager, LLC,
a Delaware limited liability company, in its capacity as Managing Member of Seavest Medical
Properties, LLC, a Delaware limited liability company, in its capacity as Managing Member of
SMP-General Partner, LLC, a Delaware limited liability company, in its capacity as general partner
of TMB-ALICE, L.P., a Delaware limited partnership, on behalf of said entities.

/s/ Elizabeth M. Carey

Notary Public

Elizabeth M. Carey

Printed Name (or Stamp) of Notary Public

My Appointment Expires: July 18, 2013

Original Carlsbad Borrower’s Signature Page (2 of 9) for

Assumption and Modification Agreement

(Portfolio)

CARLSBAD-TMB, LLC, a Delaware limited liability company

By: Seavest Properties I, LLC,

a Delaware limited liability company, its Managing Member

By: SP I Manager, LLC,

a Delaware limited liability company, its Managing Member

By: Seavest Inc.,

a New York corporation, its Non-Member Manager

By: /s/ Douglas F. Ray

Name: Douglas F. Ray

Its: President

Witnesses:

/s/ Robin Greeasten

Printed Name: Robin Greeasten

/s/ Catherine Denise

Printed Name: Catherine Denise

	 	 	 
	NOTE: Notary Public may not serve as a witness

	STATE OF NEW YORK

COUNTY OF WESTCHESTER

	 	)

)

)

This instrument was acknowledged before me on May 10, 2011, by Douglas F. Ray, Vice
President of Seavest Inc., a New York corporation, in its capacity as Non-Member Manager of
SMP Manager, LLC, a Delaware limited liability company, in its capacity as Managing Member
of Seavest Medical Properties, LLC, a Delaware limited liability company, in its capacity
as Managing Member of SMP-General Partner, LLC, a Delaware limited liability company, in
its capacity as general partner of CARLSBAD-TMB, LLC, a Delaware limited liability company,
on behalf of said entities.

/s/ Elizabeth M. Carey

Notary Public

Elizabeth M. Carey

Printed Name (or Stamp) of Notary Public

My Appointment Expires: July 18, 2013

Original Hobbs Borrower’s Signature Page (3 of 9) for

Assumption and Modification Agreement

(Portfolio)

HOBBS-TMB, LLC, a Delaware limited liability company

By: Seavest Properties I, LLC,

a Delaware limited liability company, its Managing Member

By: SP I Manager, LLC,

a Delaware limited liability company, its Managing Member

By: Seavest Inc.,

a New York corporation, its Non-Member Manager

By: /s/ Douglas F. Ray

Name: Douglas F. Ray

Its: President

Witnesses:

/s/ Robin Greeasten

Printed Name: Robin Greeasten

/s/ Catherine Denise

Printed Name: Catherine Denise

	 	 	 
	NOTE: Notary Public may not serve as a witness

	STATE OF NEW YORK

COUNTY OF WESTCHESTER

	 	)

)

)

This instrument was acknowledged before me on May 10, 2011, by Douglas F. Ray, Vice President
of Seavest Inc., a New York corporation, in its capacity as Non-Member Manager of SP I Manager,
LLC, a Delaware limited liability company, in its capacity as Managing Member of Seavest Properties
I, LLC, a Delaware limited liability company, in its capacity as Managing Member of HOBBS-TMB, LLC,
a Delaware limited liability company, on behalf of said entities.

/s/ Elizabeth M. Carey

Notary Public

Elizabeth M. Carey

Printed Name (or Stamp) of Notary Public

My Appointment Expires: July 18, 2013

Original Hope Borrower’s Signature Page (4 of 9) for

Assumption and Modification Agreement

(Portfolio)

HOPE-TMB, LLC, a Delaware limited liability company

By: Seavest Properties I, LLC,

a Delaware limited liability company, its Managing Member

By: SP I Manager, LLC,

a Delaware limited liability company, its Managing Member

By: Seavest Inc.,

a New York corporation, its Non-Member Manager

By: /s/ Douglas F. Ray

Name: Douglas F. Ray

Its: President

Witnesses:

/s/ Robin Greeasten

Printed Name: Robin Greeasten

/s/ Catherine Denise

Printed Name: Catherine Denise

	 	 	 
	NOTE: Notary Public may not serve as a witness

	STATE OF NEW YORK

COUNTY OF WESTCHESTER

	 	)

)

)

This instrument was acknowledged before me on May 10, 2011, by Douglas F. Ray, Vice President
of Seavest Inc., a New York corporation, in its capacity as Non-Member Manager of SP I Manager,
LLC, a Delaware limited liability company, in its capacity as Managing Member of Seavest Properties
I, LLC, a Delaware limited liability company, in its capacity as Managing Member of HOPE-TMB, LLC,
a Delaware limited liability company, on behalf of said entities.

/s/ Elizabeth M. Carey

Notary Public

Elizabeth M. Carey

Printed Name (or Stamp) of Notary Public

My Appointment Expires: July 18, 2013

Original Lake Charles Borrower’s Signature Page (5 of 9) for

Assumption and Modification Agreement

(Portfolio)

TMB-LAKE CHARLES, L.P., a Delaware limited partnership

By: SMP-General Partner, LLC,

a Delaware limited liability company, its General Partner

By: Seavest Properties I, LLC,

a Delaware limited liability company, its Managing Member

By: SP I Manager, LLC,

a Delaware limited liability company, its Managing Member

By: Seavest Inc.,

a New York corporation, its Non-Member Manager

By: /s/ Douglas F. Ray

Name: Douglas F. Ray

Its: President

Witnesses:

/s/ Robin Greeasten

Printed Name: Robin Greeasten

/s/ Catherine Denise

Printed Name: Catherine Denise

	 	 	 
	NOTE: Notary Public may not serve as a witness

	STATE OF NEW YORK

COUNTY OF WESTCHESTER

	 	)

)

)

This instrument was acknowledged before me on May 10, 2011, by Douglas F. Ray, Vice President
of Seavest Inc., a New York corporation, in its capacity as Non-Member Manager of SP I Manager,
LLC, a Delaware limited liability company, in its capacity as Managing Member of Seavest Properties
I, LLC, a Delaware limited liability company, in its capacity as Managing Member of SMP-General
Partner, LLC, a Delaware limited liability company, in its capacity as general partner of TMB-LAKE
CHARLES, L.P., a Delaware limited partnership, on behalf of said entities.

/s/ Elizabeth M. Carey

Notary Public

Elizabeth M. Carey

Printed Name (or Stamp) of Notary Public

My Appointment Expires: July 18, 2013

Original Longview Borrower’s Signature Page (6 of 9) for

Assumption and Modification Agreement

(Portfolio)

	 	 	LONGVIEW-TMB, L.P., a Delaware limited partnership

	 	 	By: Longview –TMB General Partner, LLC,

	 	 	a            Delaware limited liability company, its General Partner

By: Seavest Properties I, LLC,

a Delaware limited liability company, its Managing Member

By: SP I Manager, LLC,

a Delaware limited liability company, its Managing Member

By: Seavest Inc.,

a New York corporation, its Non-Member Manager

By: /s/ Douglas F. Ray

Name: Douglas F. Ray

Its: President

Witnesses:

/s/ Robin Greeasten

Printed Name: Robin Greeasten

/s/ Catherine Denise

Printed Name: Catherine Denise

	 	 	 
	NOTE: Notary Public may not serve as a witness

	STATE OF NEW YORK

COUNTY OF WESTCHESTER

	 	)

)

)

This instrument was acknowledged before me on May 10, 2011, by Douglas F. Ray, President of
Seavest Inc., a New York corporation, in its capacity as Non-Member Manager of SP I Manager, LLC, a
Delaware limited liability company, in its capacity as Managing Member of Seavest Properties I,
LLC, a Delaware limited liability company, in its capacity as Managing Member of Longview-TMB
General Partner, LLC, a Delaware limited liability company, in its capacity as general partner of
LONGVIEW-TMB, L.P., a Delaware limited partnership, on behalf of said entities.

/s/ Elizabeth M. Carey

Notary Public

Elizabeth M. Carey

Printed Name (or Stamp) of Notary Public

My Appointment Expires: July 18, 2013

Original Lufkin Borrower’s Signature Page (7 of 9) for

Assumption and Modification Agreement

(Portfolio)

TMB-LUFKIN, L.P., a Delaware limited partnership

By: SMP-General Partner, LLC,

a Delaware limited liability company, its General Partner

By: Seavest Properties I, LLC,

a Delaware limited liability company, its Managing Member

By: SP I Manager, LLC,

a Delaware limited liability company, its Managing Member

By: Seavest Inc.,

a New York corporation, its Non-Member Manager

By: /s/ Douglas F. Ray

Name: Douglas F. Ray

Its: President

Witnesses:

/s/ Robin Greeasten

Printed Name: Robin Greeasten

/s/ Catherine Denise

Printed Name: Catherine Denise

	 	 	 
	NOTE: Notary Public may not serve as a witness

	STATE OF NEW YORK

COUNTY OF WESTCHESTER

	 	)

)

)

This instrument was acknowledged before me on May 10, 2011, by Douglas F. Ray, Vice President
of Seavest Inc., a New York corporation, in its capacity as Non-Member Manager of SP I Manager,
LLC, a Delaware limited liability company, in its capacity as Managing Member of Seavest Properties
I, LLC, a Delaware limited liability company, in its capacity as Managing Member of SMP-General
Partner, LLC, a Delaware limited liability company, in its capacity as general partner of
TMB-LUFKIN, L.P., a Delaware limited partnership, on behalf of said entities.

/s/ Elizabeth M. Carey

Notary Public

Elizabeth M. Carey

Printed Name (or Stamp) of Notary Public

My Appointment Expires: July 18, 2013

Original Victoria Borrower’s Signature Page (8 of 9) for

Assumption and Modification Agreement

(Portfolio)

VICTORIA-TMB, L.P., a Delaware limited partnership

By: Victoria General Partner, LLC,

a Delaware limited liability company, its General Partner

By: Seavest Properties I, LLC,

a Delaware limited liability company, its Managing Member

By: SP I Manager, LLC,

a Delaware limited liability company, its Managing Member

By: Seavest Inc., a New York corporation, its Non-Member Manager

By: /s/ Douglas F. Ray

Name: Douglas F. Ray

Its: President

Witnesses:

/s/ Robin Greeasten

Printed Name: Robin Greeasten

/s/ Catherine Denise

Printed Name: Catherine Denise

	 	 	 
	NOTE: Notary Public may not serve as a witness

	STATE OF NEW YORK

COUNTY OF WESTCHESTER

	 	)

)

)

This instrument was acknowledged before me on May 10, 2011, by Douglas F. Ray, Vice President
of Seavest Inc., a New York corporation, in its capacity as Non-Member Manager of SMP Manager, LLC,
a Delaware limited liability company, in its capacity as Managing Member of Seavest Properties I,
LLC, a Delaware limited liability company, in its capacity as Managing Member of Victoria General
Partner, LLC, a Delaware limited liability company, in its capacity as general partner of
VICTORIA-TMB, L.P., a Delaware limited partnership, on behalf of said entities.

/s/ Elizabeth M. Carey

Notary Public

Elizabeth M. Carey

Printed Name (or Stamp) of Notary Public

My Appointment Expires: July 18, 2013

Original Wharton Borrower’s Signature Page (9 of 9) for

Assumption and Modification Agreement

(Portfolio)

TMB-I, L.P., a Delaware limited partnership

By: SMP-General Partner, LLC,

a Delaware limited liability company, its General Partner

By: Seavest Properties I, LLC,

a Delaware limited liability company, its Managing Member

By: SP I Manager, LLC,

a Delaware limited liability company, its Managing Member

By: Seavest Inc.,

a New York corporation, its Non-Member Manager

By: /s/ Douglas F. Ray

Name: Douglas F. Ray

Its: President

Witnesses:

/s/ Robin Greeasten

Printed Name: Robin Greeasten

/s/ Catherine Denise

Printed Name: Catherine Denise

	 	 	 
	NOTE: Notary Public may not serve as a witness

	STATE OF NEW YORK

COUNTY OF WESTCHESTER

	 	)

)

)

This instrument was acknowledged before me on May 10, 2011, by Douglas F. Ray, Vice President
of Seavest Inc., a New York corporation, in its capacity as Non-Member Manager of SP I Manager,
LLC, a Delaware limited liability company, in its capacity as Managing Member of Seavest Properties
I, LLC, a Delaware limited liability company, in its capacity as Managing Member of SMP-General
Partner, LLC, a Delaware limited liability company, in its capacity as general partner of TMB-I,
L.P., a Delaware limited partnership, on behalf of said entities.

/s/ Elizabeth M. Carey

Notary Public

Elizabeth M. Carey

Printed Name (or Stamp) of Notary Public

My Appointment Expires: July 18, 2013

Original Guarantor’s Signature Page for Assumption and Modification Agreement

(Portfolio)

/s/ Richard Segal

Richard Segal

Witnesses:

/s/ Catherine Denise

Printed Name: Catherine Denise

/s/ Barbara M. Enright

Printed Name: Barbara M. Enright

NOTE: Notary Public may not serve as a witness

	 	 	 
	STATE OF NEW YORK

COUNTY OF WESTCHESTER

	 	)

)

)

On the 10th day of May, 2011 before me, the undersigned, personally appeared
Richard Segal, personally known to me or proved to me on the basis of satisfactory evidence to be
the individual whose name is subscribed to the within instrument and acknowledged to me that he
executed the same in his capacity, and that by his signature on the instrument, the individual,
executed the instrument.

/s/ Elizabeth M. Carey

Notary Public

Elizabeth M. Carey

Printed Name (or Stamp) of Notary Public

My Appointment Expires: July 18, 2013

Agent’s Signature Page for Assumption and Modification Agreement

(Portfolio)

GENERAL ELECTRIC CAPITAL CORPORATION,

a Delaware corporation

By:/s/ Daniel Eppley

Name: Daniel Eppley

Its: Vice President

Witnesses:

/s/ Brad Haber

Printed Name: Brad Haber

/s/ Jim McMahon

Printed Name: Jim McMahon

	 	 	 
	STATE OF TEXAS

COUNTY OF DALLAS

	 	)

)

)

This instrument was acknowledged before me on May 5, 2011, by Daniel Eppley, Vice President of
GENERAL ELECTRIC CAPITAL CORPORATION, a Delaware corporation, on behalf of said corporation.

/s/ Martha Hariris

Notary Public

Martha Hariris

Printed Name (or Stamp) of Notary Public

My Appointment Expires: April 25, 2014

NOTE: Notary Public may not serve as a witness

2EX-10.4

THIS DOCUMENT PREPARED

WITH THE ASSISTANCE OF AN

ATTORNEY LICENSED IN TEXAS, AND AFTER
RECORDING SHOULD BE RETURNED TO:

David P. Resnick, Esq.

Goldberg, Kohn, Bell, Black,
Rosenbloom & Moritz, Ltd. 55 East
Monroe Street, Suite 3700

Chicago, Illinois 60603

SPACE ABOVE THIS LINE IS FOR RECORDERS USE ONLY

LEASEHOLD DEED OF TRUST, ASSIGNMENT OF

LEASES AND RENTS, SECURITY AGREEMENT

AND FIXTURE FILING

(Alice, Texas)

Loan No. 70004291

This LEASEHOLD DEED OF TRUST, ASSIGNMENT OF LEASES AND RENTS, SECURITY AGREEMENT AND FIXTURE
FILING (this “Deed of Trust”) is made as of this 29th day of December, 2006, between TMB-ALICE,
L.P., a Delaware limited partnership (“Borrower”), whose address is 707 Westchester Avenue, White
Plaines, New York 10604, to Diane B. Senterfitt, Esq., whose address is do Hance, Scarborough,
Wright, Ginsberg & Brusilow, 111 Congress Avenue, Suite 800, Austin, Texas 78701 (“Trustee”), for
the benefit of GENERAL ELECTRIC CAPITAL CORPORATION, a Delaware corporation, as Agent (“Agent”)
(in its individual capacity, “GECC”), whose mailing address is 2 Bethesda Metro Center, Suite
600, Bethesda, Maryland 20814, for the benefit of Agent and Lender (as defined below).

RECITALS

A. Lender has agreed, subject to the terms and conditions of that certain

Loan Agreement of even date herewith (said Loan Agreement, as amended from time to time

being hereinafter referred to as the “Loan Agreement”), executed by and among Borrower,
certain affiliates of Borrower (together with Borrower, the “Borrower Parties” and each
individually a “Borrower Party”), General Electric Capital Corporation, a Delaware corporation
(in its individual capacity as a lender (“GECC”)) and the other financial institutions who are or
hereafter become parties to the Loan Agreement (together with GECC, collectively or individually,
as the context may require, “Lender”) and Agent, as agent for Lender, to make a loan (the “Loan”)
to the Borrower Parties in the aggregate principal amount of up to Forty Three Million Fifty
Thousand and No/100 Dollars ($43,050,000.00). The Loan is evidenced by that certain Promissory
Note of even date herewith (the “Initial Funding Note”) in the original principal amount of up to
Forty Million Seven Hundred Fifty Thousand and No/l00 Dollars ($40,750,000.00) and that certain
Promissory Note of even date herewith (the “Construction Note”) in the original principal amount
of up to Two Million Three Hundred Thousand and No/100 Dollars ($2,300,000.00), providing for
monthly payments as set forth in the Loan Agreement, with the balance thereof, due and payable on
December 28, 2011 (said date or any earlier date on which the entire unpaid principal amount
shall be paid or required to be paid in full, whether by prepayment, acceleration or otherwise is
hereinafter called the “Maturity Date”). The Initial Funding Note, the Construction Note and all
amendments thereto and substitutions therefor are hereinafter referred to collectively, as the
“Note.” The terms and provisions of the Loan Agreement and Note are hereby incorporated by
reference in this Deed of Trust. Capitalized terms used but not defined herein shall have the
meanings provided in the Loan Agreement.

B. Lender and Agent wish to secure: (i) the payment of the Note, together

with all interest, premiums and other amounts, if any, due in accordance with the terms of the
Note, as well as the payment of any additional indebtedness accruing to Lender or Agent on
account of any future payments, advances or expenditures made by Lender or Agent pursuant to the
Note, the Loan Agreement or this Deed of Trust or any of the other Loan Documents (hereinafter
defined); (ii) the performance of each and every covenant, condition, and agreement contained in
the Note, the Loan Agreement, this Deed of Trust, that certain Hazardous Materials Indemnity
Agreement of even date herewith made by Borrower Parties and Richard Segal (“Segal”) (Segal is
referred to herein as “Principal”) in favor of Agent and any other documents evidencing or
securing the Loan or executed in connection therewith (such documents together with any
modifications, renewals, extensions or replacements thereof are collectively referred to herein
as the “Loan Documents”); and (iii) the payment of any and all other debts, claims, obligations,
demands, monies, liabilities and indebtedness of any kind or nature now or hereafter owing,
arising, due or payable from Borrower Parties to Lender or Agent in connection with the Loan
pursuant to one or more of the Loan Documents. All payment obligations of Borrower Parties and
Principal to Lender or Agent with respect to the Loan or under any of the Loan Documents are
hereinafter sometimes collectively referred to as the “Indebtedness,” and all other obligations
of Borrower Parties and Principal to Agent with respect to the Loan or under any of the Loan
Documents are hereinafter sometimes collectively referred to as the “Obligations”.

NOW, THEREFORE, TO SECURE the repayment of the Indebtedness and the performance of the
Obligations, Borrower has executed this Deed of Trust and does

hereby grant, bargain, sell, convey, mortgage, assign, warrant, transfer and
pledge to Agent, and grant to Agent, for the benefit of Agent and Lender, a
security interest in and to, the following described property now owned or
hereafter acquired and all proceeds thereof subject to those exceptions to title
described in the Title Policy (as defined in the Loan Agreement) (which property is
hereinafter sometimes collectively referred to as the “Property”):

A. The leasehold estate (“Leasehold Estate”) created by that certain

Ground Lease Agreement with respect to real estate described on Exhibit A
attached hereto (the “Land”) dated June 12, 2000 between Christus Spohn Health
System Corporation (“Ground Lessor”) and Borrower as Lessee and as evidenced by
that certain Memorandum of Ground Lease recorded on July 7, 2000 in the land
records of Jim Wells County, Texas in Book 723, Page 514 (being referred to herein
as the “Ground Lease”);

B. All of Borrower’s right, title and interest in and to the following,

(collectively, the “Improvements”): all buildings, improvements and fixtures now or
in the future located or to be constructed on the Land; to the extent not owned by
tenants or subtenants of the Property, all machinery, appliances, equipment,
furniture, fixtures and all other personal property of every kind or nature located
in or on, or attached to, or used or to be used in connection with the Land,
buildings, improvements or fixtures; all building materials and goods procured for
use or in connection with the foregoing; and all additions, substitutions and
replacements to any of the foregoing;

C. To the extent of Borrower’s interest therein and to the extent such is

assignable, all plans, specifications, architectural renderings, drawings, soil
test reports, other reports of examination or analysis of the Land or the
Improvements;

D. All of Borrower’s right title and interest in easements, rights-of-way,

water courses, mineral rights, water rights, air rights and appurtenances in any
way belonging, relating or appertaining to any of the Leasehold Estate, Land or
Improvements, or which hereafter shall in any way belong, relate or be appurtenant
thereto (“Appurtenances”);

E. All of Borrower’s right title and interest in:

1. All leases, licenses and other agreements with regard to the use,

enjoyment or occupancy of the Land and/or Improvements including, without
limitation, the that certain Master Lease dated June 12, 2000 between
Borrower as landlord and Ground Lessor as tenant (the “Master Lease”) and all
of the agreements affecting the use, enjoyment or occupancy of the Property,
leases and other occupancy agreements now or hereafter entered into (the
“Leases”) and all rents, prepayments, security deposits, termination
payments, royalties, profits, issues and revenues from the Land and/or
Improvements from time to time accruing under the Leases (the “Rents”),
reserving to Borrower, however, so long as no Event of Default (hereinafter
defined) is continuing hereunder, the right to enforce the Leases and to

receive and apply the Rents in accordance with the terms and conditions of
Section 9 of this Deed of Trust, and all guaranties of any Leases or Rents;

2. All claims, demands, judgments, insurance proceeds, refunds,

reserves, deposits, rights of action, awards of damages, compensation, settlements and
other rights to the payment of money hereafter made resulting from or relating to (i) the
taking of the Leasehold Estate, the Land or the Improvements or any part thereof under
the power of eminent domain, (ii) any damage (whether caused by such taking, by casualty
or otherwise) to the Land, Improvements or Appurtenances or any part thereof, or (iii)
the ownership or operation of the Property;

3. To the extent assignable, all management contracts, permits,

certificates, licenses, approvals, contracts, purchase and sale agreements, purchase
options, entitlements, development rights and authorizations, however characterized,
issued or in any way furnished for the acquisition, construction, development, operation
and use of the Land, Improvements and/or Leases, including building permits,
environmental certificates, licenses, certificates of operation, warranties and
guaranties;

4. All of the following types of collateral, as defined in the

Uniform Commercial Code as in effect from time to time in the State of Texas (the
“Code”): accounts, contract rights, general intangibles, chattel paper, documents,
instruments, inventory, goods, equipment, investment property, deposit accounts, letter
of credit rights, commercial tort claims, supporting obligations and all books and
records relating to the foregoing; provided that Borrower will cooperate with Lender in
obtaining “control” as defined in the Code, with respect to collateral consisting of
deposit accounts, investment property, letter of credit rights and electronic chattel
paper;

5. Any monies on deposit with or for the benefit of Lender,

including deposits for the payment of real estate taxes and any cash collateral account;

6. All proceeds, products, replacements, additions, substitutions,

renewals and accessions of and to the Leasehold Estate, Land, Improvements, Appurtenances
or any other property of the types described in the preceding granting clauses; and

F. Any and all after-acquired right, title or interest of Borrower in and to

any property of the types described in the preceding granting clauses.

TO HAVE AND TO HOLD the Property and all parts thereof together with the rents, issues,
profits and proceeds thereof, unto Lender to its own proper use, benefit, and advantage forever,
subject, however, to the terms, covenants, and conditions herein.

Borrower covenants and agrees with Agent and Lender as follows:

1. Payment of Indebtedness; Performance of Obligations.
Borrower

and/or the other Borrower Parties shall promptly pay when due the Indebtedness and shall promptly
perform all Obligations.

2. Taxes and Other Obligations. Borrower shall pay or
cause to be paid,

when due, and before any interest, collection fees or penalties shall accrue, all taxes,
assessments, fines, impositions and other charges and obligations, which may become a lien on or
charge against the Property (collectively, “Charges”) and shall provide Agent with evidence of
the payment of the same. Borrower shall have the right to contest, in good faith by appropriate
proceedings, the amount or validity of any such Charges so long as: (a) Borrower has given prior
written notice to Agent of Borrower’s intent to so contest or object to any such Charges; (b)
such contest stays the enforcement or collection of the Charges or any lien created; and (c)
Borrower has obtained an endorsement, in form and substance satisfactory to Agent, to the loan
policy of title insurance issued to Agent insuring over any such lien, or Borrower has deposited
with Agent a bond or other security satisfactory to Agent in the amount of 150% of the amount of
such Charges.

Should Borrower fail to make any of such payments, Lender or Agent may, upon notice to
Borrower and Borrower’s failure to pay (or cause payment of) same within five (5) days after
receipt of notice of such failure, at its option and at the expense of Borrower, pay the amounts
due for the account of Borrower. Upon the request of Agent, Borrower shall immediately furnish to
Agent copies of all notices Borrower has received of amounts due and receipts evidencing payment.
Borrower shall promptly, upon obtaining actual knowledge thereof, notify Agent of any lien on all
or any part of the Property (other than the liens created hereby) and shall promptly discharge
any unpermitted lien or encumbrance.

3. Intentionally Omitted.

4. Use of Property. Unless required by applicable law,
Borrower shall

not , to the extent within its control under the Ground Lease and Master Lease permit any
material changes in the use of any part of the Property from the use existing at the time this
Deed of Trust is executed. Borrower shall not initiate or acquiesce in a change in the plat of
subdivision, or zoning classification of the Property without Agent’s prior written consent,
which consent shall not be unreasonably withheld provided the value of the Property and Agent’s
lien will not be impaired thereby.

5. Insurance and Condemnation.

(a) Insurance.

(i) Borrower shall keep (or cause to be kept) the Improvements

insured, and shall maintain (or cause to be maintained) casualty coverage, general
liability coverage, business interruption coverage and such other coverages

reasonably requested by Agent, by carrier(s), in amounts and in form at all times
reasonably satisfactory to Agent, which carrier(s), amounts and form shall not be changed without
the prior written consent of Agent. Agent’s consent to a change in carrier(s) and/or forms shall
not be unreasonably withheld. All insurance policies required to be maintained pursuant to this
Section 5 (“Insurance Policies”) shall contain a Lender’s Loss Payable Endorsement. All
Insurance Policies shall provide that the coverage shall not be canceled, or materially modified
or reduced, without thirty (30) days advance written notice from the insurance company to Agent.
If a blanket policy is issued, a certified copy of said policy shall be furnished, together with a
certificate indicating that Agent, for the benefit of itself and Lender, is a certificate holder,
mortgagee and loss payee under such policy in the designated amount.

(ii) In case of loss or damage by fire or other casualty, Borrower

shall, upon obtaining actual knowledge thereof, give immediate written notice thereof to the
insurance carrier(s) and to Agent. Agent is authorized and empowered, and Borrower hereby
irrevocably appoints Agent as its attorney-in-fact (such appointment is coupled with an interest),
at its option, to make or file proofs of loss or damage and to settle and adjust any claim under
insurance policies which insure against such risks, or to direct Borrower, in writing, to agree
with the insurance carrier(s) on the amount to be paid in regard to such loss; provided, however,
that as long as no Event of Default then exists, Agent shall not exercise said Power of Attorney,
but instead shall have the right to approve (i) the proposed proofs of loss or damages and (ii)
any settlement or adjustment, such approval not to be unreasonably withheld. Any attempt by
Borrower to make or file proofs of loss or damage or to settle or adjust any claim under such
insurance policies without such approval of Agent shall constitute an Event of Default.

(iii) Provided no Event of Default then exists and Borrower certifies as to same,
the net insurance proceeds (after deduction of Agent’s out-of-pocket reasonable costs and
expenses, if any, in collecting the same) shall be made available for the restoration or repair of
the Property if, in Agent’s reasonable judgment: (a) the value of Agent’s security is not reduced;
(b) (reserved); (c) the Master Lease has not terminated as a result of the loss or damage and the
tenant thereunder is obligated to (and continues to) pay the rent thereunder without interruption
because of such casualty; (d) the loss does not occur in the nine (9) month period immediately
preceding the stated Maturity Date and Agent’s independent consultant certifies (such
certification to be reasonably issued) that the restoration of the Property can be substantially
completed (so that a certificate of occupancy may be issued and the medical office building may be
occupied) at least nine (9) months prior to the Maturity Date; and (e) Borrower deposits with
Agent from time-to-time an amount, in cash, which Agent, in its reasonable discretion, determines
is necessary, in addition to the net insurance proceeds to pay in full the cost of the restoration
or repair (Borrower’s deposit shall be disbursed prior to any disbursement of insurance proceeds
held by Agent). Any excess proceeds remaining after completion of such

repair shall be distributed first to Borrower to the extent Borrower has deposited funds
with Agent for such repair with the balance applied against the Indebtedness, provided such
application shall not give rise to any prepayment remedy, premium or Make-Whole Amount.
Notwithstanding the foregoing, it shall be a condition precedent to any disbursement of insurance
proceeds held by Agent hereunder that Agent shall have approved (such approval not to be
unreasonably withheld) (x) all plans and specifications for any proposed repair or restoration,
(y) the construction schedule and (z) the architect’s and general contractor’s contracts for all
restoration that exceeds $100,000 in the aggregate. Agent may establish other conditions it deems
reasonably necessary to assure the work is fully completed in a good and workmanlike manner free
of all liens or claims by reason thereof, and in compliance with all applicable laws, rules and
regulations. At Agent’s option, the net insurance proceeds shall be disbursed pursuant to a
construction escrow reasonably acceptable to Agent. If an Event of Default then exists, or any of
the conditions set forth in clauses (a) through (e) of this Section 5(a)(iii) have not
been met or satisfied, the net insurance proceeds shall be applied to the Indebtedness (without
incurrence of any prepayment penalty premium or Make-Whole Amount) in such order and manner as
Agent may elect, whether or not due and payable, with any excess paid to Borrower.

(iv) In the event Borrower fails to provide Agent with evidence of the insurance coverage
required by this Deed of Trust, and such failure continues for five (5) business days after
receipt of notice of such failure Agent may purchase insurance at Borrower’s expense to protect
Agent’s or Lender’s interest in the Property. This insurance may, but need not, protect Borrower’s
interests. The coverage purchased by Agent may not pay any claim made by Borrower or any claim
that is made against Borrower in connection with the Property. Borrower may later cancel any
insurance purchased by Agent, but only after providing Agent with evidence that Borrower has
obtained insurance as required by this Deed of Trust. If Agent purchases insurance for the
Property, Borrower will be responsible for the costs of that insurance, including interest and
other out-of-pocket reasonable charges incurred by Agent in connection with the placement of the
insurance, until the effective date of the cancellation or expiration of the insurance. The costs
of the insurance may be added to the Obligations. The costs of the insurance may be more than the
cost of insurance Borrower is able to obtain on its own.

(b) Condemnation.

(i) Borrower shall within three (3) business days of its receipt of

notice thereof, notify Agent of any action or proceeding relating to any condemnation or other
taking, whether direct or indirect, of the Property, or part thereof, and Borrower shall, after
consultation with and subject to Agent’s approval (not to be unreasonably withheld), appear in and
prosecute any such action or proceeding. Upon Borrower’s failure to act in accordance with Agent’s
prior approval, Borrower authorizes Agent, at Agent’s option, as attorney-in-fact for Borrower
(such appointment as attorney-in-fact is coupled with an interest), to commence, appear in and
prosecute, in Agent’s or Borrower’s name, any action or proceeding relating to

any condemnation or other taking of the Property, and to settle or compromise any
claim in connection with such condemnation or other taking. The proceeds of any award,
payment or claim for damages, direct or consequential, in connection with any condemnation
or other taking of the Property, or part thereof, or for conveyances in lieu of
condemnation, are hereby assigned to and shall be paid to Agent and in accordance with the
provisions of Section 5(b)(ii) below. Agent is authorized (but is under no
obligation) to collect any such proceeds.

(ii) Agent may, in its sole discretion, elect to (y) apply the net

proceeds of any condemnation award (after deduction of Agent’s reasonable costs and
expenses, if any, in collecting the same) in reduction of the Indebtedness in such order and
manner as Agent may elect (such application not to give rise to any prepayment penalty,
premium or Make-Whole Amount), whether due or not or (z) make the proceeds available to
Borrower for the restoration or repair of the Property. If the net proceeds of the
condemnation award are made available to Borrower for restoration or repair, the net
proceeds of the condemnation award shall be disbursed upon satisfaction of and in accordance
with the terms and conditions set forth in Section 5(a)(i) above. Agent is
authorized (but is under no obligation) to collect any such proceeds.

6. Preservation and Maintenance of Property. Borrower shall (a) not

commit waste or permit impairment or deterioration of the Property; (b) not abandon the Property
it being agreed that Borrower’s net leasing of the Property to a third party shall not constitute
an abandonment of the Property by Borrower); (c) keep the Property (or cause the Property to be
kept) in good repair and restore or repair (or cause to restore or repair) promptly, in a good and
workmanlike manner, all or any part of the Property to the equivalent of its original condition,
or such other condition as Agent may approve in writing (such approval not to be unreasonably
withheld), upon any damage or loss thereto; (d) comply (or cause compliance) with all laws,
ordinances, regulations and requirements of any governmental body applicable to the Property; (e)
at any time the Property is not subject to the Master Lease or another Lease of a similar nature
approved by Agent (such approval not to be unreasonably withheld), provide for management of the
Property by a property manager reasonably satisfactory to Agent pursuant to a contract in form and
substance reasonably satisfactory to Agent; and (f) upon obtaining actual knowledge of any such
action or proceeding, give notice in writing to Agent of and, unless otherwise directed in writing
by Agent, appear in and defend any action or proceeding purporting to affect the Property, the
security granted by the Loan Documents or the rights or powers of Agent. Neither Borrower nor
(except to the extent permitted in the Master Lease) any tenant or other person shall remove,
demolish or alter any Improvement on the Land except when incident to the replacement of fixtures,
equipment, machinery and appliances with items of like kind.

7. Protection of Agent’s and or Lender’s Security. If (a) Borrower
fails

to pay the Indebtedness or to perform the Obligations and such default ripens into an Event of
Default, (b) any action or proceeding is commenced which affects or could reasonably be expected
to affect the Property or Agent’s or Lender’s interest therein, including any loss, damage, cost,
expense or liability incurred by Agent or Lender with respect to (i) any

environmental matters relating to the Property or (ii) the preparation of the commencement
or defense of any action or proceeding or any threatened action or proceeding affecting the Loan
Documents or the Property, then Agent, at Agent’s option, may make such appearances, disburse such
sums and take such action as Agent deems necessary, in its reasonable discretion, to protect the
Property or Agent’s or Lender’s interest therein, including entry upon the Property (subject to the
rights of tenants and subtenants) to take such actions Agent determines reasonably appropriate to
preserve, protect or restore the Property. Any amounts disbursed by Agent or Lender pursuant to
this Section 7 (including reasonable attorneys’ fees, costs and expenses), together with
interest thereon at the “Default Rate” (defined in the Note) from the date of disbursement, shall
become additional Indebtedness of Borrower secured by the lien of this Deed of Trust and the other
Loan Documents and shall be due and payable on demand. Nothing contained in this Section 7
shall require Agent or Lender to incur any expense or take any action hereunder.

8. Actions. Borrower shall warrant title subject to the Permitted

Exceptions, the encumbrances created hereby and any subsequent encumbrances approved by Agent in
writing (such approval not to be unreasonably withheld for items with respect to Borrower’s
incurrence of debt) and appear in and defend any claim or any action or other proceeding purporting
to affect title or other interests relating to any part of the Property, the security of this Deed
of Trust or the rights of Agent or Lender, and, upon obtaining actual knowledge thereof give Agent
prompt written notice of any such claim, action or proceeding. Agent may, at the expense of
Borrower, appear in and defend any such claim, action or proceeding and any claim, action or other
proceeding asserted or brought against Agent or Lender in connection with or relating to any part
of the Property or this Deed of Trust.

9. Leases; Assignment of Rents. Borrower shall not, without Agent’s

prior written consent (which consent shall not be unreasonably withheld), execute, modify, amend,
surrender or terminate any Lease to which it is a party. All Leases executed or renewed after the
date hereof (other than any renewals (without modification) of the Ground Lease or Master Lease)
must be approved by Agent (which approval shall not be unreasonably withheld) must be approved by
Agent prior to the execution or renewal thereof by Borrower. Borrower shall not be authorized to
enter into any further ground lease of the Property without Agent’s prior written approval. If
Agent consents to any new lease or the renewal of any existing lease (other than the renewal of the
Ground Lease or the Master Lease without modification), at Agent’s request, Borrower shall cause
the tenant thereunder to execute a subordination and attornment agreement in form and substance
reasonably satisfactory to Agent prior to Borrower’s execution of such Lease.

Borrower shall, in all material respects, comply with and observe Borrower’s obligations as
landlord under all Leases to which it is a party. This Deed of Trust shall not make Agent
responsible for the control, care, management, or repair of the Property or any personal property
or for the carrying out of any of the terms of the Leases unless and until Agent takes possession
and control of the Property . Agent shall not be liable in any way for any injury or damage to
person or property sustained by any person or persons, firm or corporation in or about the
Property.

Borrower absolutely and unconditionally assigns and transfers to Agent, for the benefit
of Agent and Lender, all of Borrower’s right, title and interest in and to the Rents; provided,
however, so long as an Event of Default has not occurred and is continuing, Borrower shall have the
right to collect all Rents, and shall hold the same, in trust, to be applied first to the payment
of all impositions, levies, taxes, assessments and other charges upon the Property, second to
maintenance of insurance policies upon the Property required hereby (to the extent not paid for by
the tenant under the Master Lease), third to the expenses of Property operations (to the extent not
paid for by the tenant under the Master Lease), including maintenance and repairs required hereby,
fourth to the payment of that portion of the Indebtedness then due and payable, and fifth, the
balance, if any, to or as directed by Borrower. If an Event of Default has occurred and is
continuing, Borrower’s right to collect and secure the Rents shall, upon notice from Agent, cease
and Agent shall have the sole right, with or without taking possession of the Property to collect
all Rents and apply the same first to the payment of all impositions, levies, taxes, assessments
and other charges upon the Property, second to maintenance of insurance policies upon the Property
required hereby (to the extent not paid by for by the tenant under the Master Lease), third to the
expenses of Property operations (to the extent not paid for by the tenant under the Master Lease),
including maintenance and repairs required hereby, fourth to the payment of that portion of the
Indebtedness then due and payable, and fifth, the balance, if any, to or as directed by Borrower.
Borrower has executed and delivered to Agent, for the benefit of itself and Lender, an Assignment
of Leases and Rents of even date herewith, and, to the extent the provisions of this Section
9 are inconsistent with the provisions of said Assignment of Leases and Rents, the provisions
of this Deed of Trust shall control.

10. Statements by Borrower. Borrower shall within ten (10) days after

Agent’s request, furnish Agent with a written statement, duly acknowledged, setting forth the sums,
according to Borrower’s books and records, secured by the Loan Documents and any right of set-off,
counterclaim or other defense which, to Borrower’s then knowledge, exists against such sums and the
Obligations.

11. Transfers of the Property or Interests in Borrower. Borrower shall

not (a) create or permit the creation of any new ownership interest in Borrower or General Partner
or Principal or (b) sell, transfer, encumber, convey or otherwise dispose of (or permit any of the
foregoing) (i) all or any part of the Land or the Improvements, or any interest therein (other than
as provided in that certain side letter described in Section 6.1(b) of the Loan Agreement) or (ii)
any direct or indirect ownership interest in Borrower or General Partner or Principal (including
any interest in the profits, losses or cash distributions in any way relating to the Property or
Borrower or General Partner). In addition, if Seavest Inc. fails to continue to indirectly control
the day to day management and operation of Borrower’s business, then Agent may, at Agent’s option,
declare all of the Indebtedness to be immediately due and payable, and Agent may invoke any
remedies permitted by the Loan Documents. Intestate transfers or transfers by devise or estate
planning transfers to trusts, the beneficiaries of which are family members of the transferor,
shall not constitute a transfer for the purposes of the foregoing provisions. In addition, the
provisions of this Deed of Trust shall be subject at all times to the transfer restrictions
contained in the Loan Agreement.

Notwithstanding any provision to the contrary contained in this instrument, all of the
transfers permitted pursuant to the express terms of the Loan Agreement, including without
limitation transfers in connection with the Recapitalization (as defined in the Loan Agreement),
are hereby permitted without Agent’s or Lender’s consent.

12. Reserved.

13. No Additional Liens, Encumbrances or Indebtedness. Borrower

covenants not to execute any mortgage, deed of trust, security agreement, assignment of leases and
rents or other agreement granting a lien (except the liens granted to Lender by the Loan
Documents) against or encumbrance on the Property or take or fail to take any other action which
would result in a lien against the Property or the interest of Borrower in the Property without
the prior written consent of Agent; provided, however, Borrower may in good faith, by appropriate
proceeding, contest the validity or amount of any asserted lien and, pending such contest,
Borrower shall not be deemed to be in default hereunder if Borrower shall first obtain an
endorsement, in form and substance satisfactory to Agent to the loan policy of title insurance
issued to Agent for the benefit of Lender insuring over such lien, or, if no such loan policy
shall have been issued, then Borrower shall deposit with Agent a bond or other security
satisfactory to Agent in the amount of 150% of the amount of such lien to assure payment of the
same as and when due.

14. Borrower and Lien Not Released. Without affecting the liability of

Borrower or any other person liable for the payment of the Indebtedness, and without affecting the
lien or charge of this Deed of Trust as security for the payment of the Indebtedness, Agent may,
from time to time and without notice to any junior lien holder or holder of any right or other
interest in and to the Property: (a) release any person so liable; (b) waive or modify any
provision of this Deed of Trust or the other Loan Documents or grant other indulgences; (c)
release all or any part of the Property; (d) take additional security for any obligation herein
mentioned; (e) subordinate the lien or charge of this Deed of Trust; (f) consent to the granting
of any easement; (g) consent to any map or plan of the Property; or (h) consent to the
modification of the Ground Lease. Nothing herein shall be construed to permit Lender to
unilaterally amend a Loan Document (including this Deed of Trust) to which there are other
parties.

15. Uniform Commercial Code Security Agreement.

(a) This Deed of Trust shall cover, and the Property shall include, all of

Borrower’s right, title and interest in and to all property now or hereafter affixed or attached
to the Land, which to the fullest extent permitted by law, shall be deemed fixtures and a part of
the Land. In addition this Deed of Trust shall constitute a security agreement pursuant to the
Code for any portion of the Property which, under applicable law, may be subject to a security
interest pursuant to the Code (such portion of the Property is hereinafter called the “Personal
Property”) and Borrower hereby grants to Agent, for the benefit of Agent and Lender a security
interest in the Personal Property. Agent, for the benefit of Agent and Lender, shall have all of
the rights and remedies of a secured party under the Code as well as all other rights and remedies
available at law or in equity.

(b) Borrower agrees to execute and deliver to Agent any financing

statements, as well as extensions, renewals and amendments thereof, and reproductions of this Deed
of Trust in such form as Agent may reasonably require to perfect a security interest with respect
to the Personal Property. Borrower hereby authorizes and empowers Agent and irrevocably appoints
Agent its agent and attorney-in-fact to execute and file, on Borrower’s behalf, all financing
statements and refilings and continuations thereof as Agent deems necessary or advisable to
create, preserve and protect such lien. Borrower shall pay all reasonable costs of filing such
financing statements and any extensions, renewals, amendments and releases thereof, and shall pay
all reasonable costs and expenses of any record searches for financing statements as Agent may
reasonably require.

(c) Borrower shall not, without the prior written consent of Agent,
sell,

assign, transfer, encumber, remove or permit to be removed from the Property any of the Personal
Property. So long as no Event of Default exists and is continuing, Borrower may sell or otherwise
dispose of the Personal Property when obsolete, worn out, inadequate, unserviceable or unnecessary
for use in the operation of the Property, but only upon replacing the same with other Personal
Property at least equal in value and utility to the disposed Personal Property. Any replacement or
substituted Personal Property shall be subject to the security interest granted herein.

(d) To the extent permitted by law, Borrower, Lender and Agent agree that

with respect to all items of Personal Property which are or will become fixtures on the Land, this
Deed of Trust, upon recording or registration in the real estate records of the proper office,
shall constitute a “fixture filing” within the meaning of the Code. Borrower is the record owner
of the Leasehold Estate.

16. Events of Default; Acceleration of Indebtedness. The occurrence of

any one or more of the following events shall constitute an “Event of Default” under this Deed of
Trust:

(a) failure of any Borrower Party to pay, within five (5) days after
Agent

delivers to Borrower notice of non-payment of any of the Indebtedness, including any payment due
under the Note; or

(b) failure of Borrower to strictly comply with Sections 9
(Leases), 11

(prohibition on transfers), 13 (no additional liens) and 34(a), (b), (f), (g) and (j)
(Ground Lease Covenants) of this Deed of Trust, or to maintain all policies of insurance required
hereunder to be maintained within two (2) business days after notice of the termination or
expiration of any such policies from Agent or any insurance carrier; or

(c) failure of any Borrower Party, within thirty (30) days after written

notice and demand, to satisfy each and every Obligation not set forth in the subsections above;
provided, however, if such Obligation cannot by its nature be cured within thirty (30) days, and
if Borrower commences to cure such failure promptly after written notice thereof and thereafter
diligently pursues the curing thereof (and then in all events cures such failure

within ninety (90) days after the original notice thereof), Borrower shall not be in default
hereunder during such period of diligent curing; or

(d) Borrower changes the state of its formation/incorporation or its

company name without providing Agent thirty (30) days prior written notice; or

(e) the occurrence of a default by any Borrower Party or any Principal

under any other Loan Document and the expiration of any applicable notice and/or cure period, if
any; or

(f) the occurrence of a default by Borrower under the Ground Lease or the

Master Lease and the expiration of any applicable notice and/or cure period, if any; or

(g) the termination or rejection in bankruptcy of the Ground Lease.

Upon the occurrence of an Event of Default, at the option of Agent, the Indebtedness shall become
immediately due and payable without notice to Borrower and Agent shall be entitled to all of the
rights and remedies provided in the Loan Documents or at law or in equity. Each remedy provided in
the Loan Documents is distinct and cumulative to all other rights or remedies under the Loan
Documents or afforded by law or equity, and may be exercised concurrently, independently, or
successively, in any order whatsoever.

17. Entry; Foreclosure. During the occurrence of an Event of Default,

Borrower, upon demand of Agent, shall forthwith surrender to Agent the actual possession of the
Property, or to the extent permitted by law, to Agent or a receiver appointed by a court of
competent jurisdiction, may enter and take possession of all or any part of the Property, and may
exclude Borrower and its agents and employees wholly therefrom, and may have joint access with
Borrower to the books, papers and accounts of Borrower. If Borrower shall for any reason fail to
surrender or deliver the Property or any part thereof after such demand by Agent, Agent or such
receiver may obtain a judgment or decree conferring on Agent or such receiver, the right to
immediate possession of the Property or requiring the delivery of the Property to Agent or such
receiver, and Borrower specifically consents to the entry of such judgment or decree. Upon every
such entering upon or taking of possession, Agent or such receiver may hold, store, use, operate,
manage and control the Property and conduct the business thereof, and Agent or such receiver may
take any action required by applicable law or which Agent or such receiver believes necessary to
enforce compliance with the environmental provisions contained herein or in the other Loan
Documents, and negotiate with governmental authorities with respect to the Property’s environmental
compliance and remedial measures in connection therewith. Agent and such receiver and their
representatives shall have no liability for any loss, damage, injury, cost or expense resulting
from any action or omission which was taken or omitted in good faith.

When the Indebtedness or any part thereof shall become due, whether by acceleration or
otherwise, if Borrower fails to fully pay such Indebtedness within five (5) days after Agent
delivers to Borrower notice of non-payment thereof, Agent may, either with or without entry or
taking possession as herein provided or otherwise, proceed by suit or suits

at law or in equity or by any other appropriate proceeding or remedy to: (a) enforce
payment of the Note or the performance of any term, covenant, condition or agreement of Borrower
under any of the Loan Documents; (b) foreclose the lien hereof for the Indebtedness or part
thereof and sell the Property as an entirety or otherwise, as Agent may determine; (c) exercise
its rights under Section 10 with respect to all or any portion of the Personal Property in
accordance with the provisions of the UCC; provided Agent shall have no obligation to clean up or
otherwise prepare such Personal Property for sale nor marshal any Personal Property in favor of
Borrower or any other secured party; and/or (d) pursue any other right or remedy available to it
under or by the law and decisions of the State in which the Land is located. Agent may comply with
any applicable state or federal law requirements in connection with a disposition of the Personal
Property and compliance will not be considered adversely to affect the commercial reasonableness
of any sale of the Personal Property. Notwithstanding any statute or rule of law to the contrary,
the failure to join any tenant or tenants of the Property as party defendant or defendants in any
foreclosure action or the failure of any such order or judgment to foreclose their rights shall
not be asserted by Borrower as a defense in any civil action instituted to collect (a) the
Indebtedness, or any part thereof or (b) any deficiency remaining unpaid after foreclosure and
sale of the Property.

Upon any foreclosure sale, Agent may bid for and purchase the Property and shall be entitled
to apply all or any part of the Indebtedness as a credit to the purchase price.

18. Appointment of Receiver or Lender in Possession. If an Event of

Default is continuing, Trustee, upon application to a court of competent jurisdiction, shall be
entitled as a matter of strict right, without notice, and without regard to the occupancy or value
of any security for the Indebtedness or the insolvency of any party bound for its payment, to the
appointment, at its option, of itself as mortgagee in possession, or of a receiver to take
possession of and to operate the Property, and to collect and apply the Rents.

19. Expenditures and Expenses. In any action to foreclose the lien hereof

or otherwise enforce Trustee’s, Agent’s or Lender’s rights and remedies hereunder, there shall be
allowed and included as additional Indebtedness all Costs (as defined in the Loan Agreement) which
may be paid or incurred by or on behalf of Trustee, Agent, or Lender; including without
limitation, the costs of collection, enforcement, retaining, holding, preparing for disposition,
processing and disposing of the Personal Property. All Costs and such other reasonable costs,
expenses and fees as may be incurred by Trustee, Agent or Lender in the protection of the Property
and the maintenance of the lien of this Deed of Trust, including, reasonable attorneys’ fees and
costs in any litigation or proceeding affecting this Deed of Trust, the Note, the other Loan
Documents, the Property or the Personal Property, including probate, appellate, and bankruptcy
proceedings and any post-judgment proceedings to collect or enforce any judgment or order relating
to this Deed of Trust or the other Loan Documents or in preparation for the commencement or
defense of any action or proceeding or threatened action or proceeding, shall be immediately due
and payable to Lender, with interest thereon at the Default Rate, and shall be secured by this
Deed of Trust.

20. Application of Proceeds of Foreclosure Sale. The proceeds from any

sale, lease or other disposition made pursuant to Section 17 or the proceeds from the

surrender of any insurance policies pursuant hereto, or any Rents collected by Agent from
the Property, or, subject to Section 5(a) hereof, proceeds from insurance which Agent or
Lender elects to apply to the Indebtedness, shall be applied by Agent or by Lender, as the case may
be, to the Indebtedness in the following order and priority: (i) to the payment of all expenses of
advertising, selling, and conveying the Property or part thereof, and/or prosecuting or otherwise
collecting Rents, proceeds, premiums, or other sums including reasonable attorneys’ fees, not to
exceed one percent (1%) of the proceeds thereof or sums so received; (ii) to the remainder of the
Indebtedness in the order of priority set forth in the Note with the excess, if any, being applied,
to any party entitled thereto as their rights may appear. The application of proceeds of sale or
other proceeds as otherwise provided herein shall be deemed to be payment of the Indebtedness like
any other payment. The balance of the Indebtedness remaining unpaid, if any, shall remain fully due
and owing in accordance with the terms of the Note or other Loan Documents.

21. Future Advances. This Deed of Trust is given to secure not only the

existing Indebtedness, but also future advances (whether such advances are obligatory or are made
at the option of Lender or Agent, or otherwise) made by Agent or Lender under the Loan Agreement,
the Note or this Deed of Trust, to the same extent as if such future advances were made on the date
of the execution of this Deed of Trust. The total amount of indebtedness that may be so secured may
decrease or increase from time to time.

22. Waiver of Statute of Limitations. Borrower hereby waives the right

to assert any statute of limitations as a bar to the enforcement of the lien created by any of the
Loan Documents or to any action brought to enforce the Note or any other obligation secured by any
of the Loan Documents.

23. Waiver of Homestead and Redemption. Borrower hereby waives all

right of homestead exemption in the Property. Borrower hereby waives all right of redemption on
behalf of Borrower and on behalf of all other persons acquiring any interest or title in the
Property subsequent to the date of this Deed of Trust, except decree or judgment creditors of
Borrower.

24. Governing Law; Severability. This Deed of Trust shall be governed by

and construed in accordance with the internal laws of the State of Illinois except that the
provisions of the laws of the jurisdiction in which the Property is located shall be applicable to
the creation, perfection and enforcement of the liens created by this Deed of Trust on all (a) real
property (including improvements, appurtenances and the rents, issues and profits of real property)
and (b) except as otherwise provided by the Code, personal property. The invalidity, illegality or
unenforceability of any provision of this Deed of Trust shall not affect or impair the validity,
legality or enforceability of the remainder of this Deed of Trust, and to this end, the provisions
of this Deed of Trust are declared to be severable.

25. Notice. Notices shall be given under this Deed of Trust in conformity

with the terms and conditions of the Loan Agreement and in conformity with applicable law.

26. Successors and Assigns Bound; Joint and Several Liability; Agents; 

Captions. The covenants and agreements contained in the Loan Documents shall bind, and the
rights thereunder shall inure to, the respective successors and assigns of Agent, Lender and
Borrower, subject to the transfer restrictions set forth in the Loan Agreement, and shall bind all
persons who become bound as a party to this Deed of Trust. In exercising any rights under the Loan
Documents or taking any actions provided for therein, Agent may act through its employees, agents
or independent contractors as authorized by Agent. The captions and headings of the paragraphs of
this Deed of Trust are for convenience only and are not to be used to interpret or define the
provisions hereof.

27. Release. Upon payment of all sums secured by this Deed of Trust,

Agent shall release this Deed of Trust. Borrower shall pay Agent’s reasonable costs incurred in
releasing this Deed of Trust and any financing statements related hereto.

28. Loss of Note. Upon notice from Agent of the loss, theft, or destruction

of the Note and upon receipt of an affidavit of lost note and an indemnity reasonably satisfactory
to Borrower from Agent, or in the case of mutilation of the Note, upon surrender of the mutilated
Note, Borrower shall make and deliver a new note of like tenor in lieu of the then to be
superseded Note.

29. Survival of Obligations. Each and all of the Obligations shall survive

the execution and delivery of the Loan Documents and the consummation of the Loans called for
therein and shall continue in full force and effect until the Indebtedness shall have been paid in
full; provided, however, that nothing contained in this Section 29 shall limit the
Obligations of Borrower as otherwise set forth herein.

30. Covenants Running with the Land. All Obligations contained in this

Deed of Trust and the other Loan Documents are intended by Borrower and Agent to be, and shall be
construed as, covenants running with the Property until the lien of this Deed of Trust has been
fully released by Agent.

31. Entire Agreement. THIS DEED OF TRUST AND OTHER LOAN DOCUMENTS
EMBODY THE FINAL, ENTIRE AGREEMENT AMONG THE PARTIES HERETO AND SUPERSEDE ANY AND ALL PRIOR
COMMITMENTS, AGREEMENTS, REPRESENTATIONS AND UNDERSTANDING, WHETHER WRITTEN OR ORAL, RELATING TO
THE SUBJECT MATTER HEREOF AND THEREOF AND MAY NOT BE CONTRADICTED OR VARIED BY EVIDENCE OR PRIOR,
CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OR DISCUSSIONS OF THE PARTIES HERETO. THERE ARE NO
ORAL AGREEMENTS AMONG THE PARTIES HERETO.

32. Further Assurances. Borrower agrees to execute any further

documents, and to take any further actions reasonably requested by Agent to evidence or perfect
the security interests granted herein, to maintain the first priority of the security interests,
and to effectuate the rights specifically granted to Agent and Lender hereunder.

33. Jury Trial Waiver. BORROWER AND LENDER BY ITS
ACCEPTANCE OF THIS DEED OF TRUST, HEREBY WAIVE THEIR RESPECTIVE RIGHT TO A TRIAL BY JURY IN ANY
ACTION OR PROCEEDING BASED UPON, OR RELATED TO, THE SUBJECT MATTER OF THE LOAN DOCUMENTS AND THE
BUSINESS RELATIONSHIP THAT IS BEING ESTABLISHED. THIS WAIVER IS KNOWINGLY, INTENTIONALLY AND
VOLUNTARILY MADE BY BORROWER AND BY LENDER, AND BORROWER ACKNOWLEDGES THAT NEITHER LENDER NOR ANY
PERSON ACTING ON BEHALF OF LENDER HAS MADE ANY REPRESENTATIONS OF FACT TO INDUCE THIS WAIVER OF
TRIAL BY JURY OR HAS TAKEN ANY ACTIONS WHICH IN ANY WAY MODIFY OR NULLIFY ITS EFFECT. BORROWER AND
LENDER ACKNOWLEDGE THAT THIS WAIVER IS A MATERIAL INDUCEMENT TO ENTER INTO A BUSINESS
RELATIONSHIP, THAT BORROWER AND LENDER HAVE ALREADY RELIED ON THIS WAIVER IN ENTERING INTO THE
LOAN DOCUMENTS AND THAT EACH OF THEM WILL CONTINUE TO RELY ON THIS WAIVER IN THEIR RELATED FUTURE
DEALINGS. BORROWER AND LENDER FURTHER ACKNOWLEDGE THAT THEY HAVE BEEN REPRESENTED (OR HAVE HAD THE
OPPORTUNITY TO BE REPRESENTED) IN THE SIGNING OF THE LOAN DOCUMENTS AND IN THE MAKING OF THIS
WAIVER BY INDEPENDENT LEGAL COUNSEL.

34. Ground Lease Covenants.

For so long as the Indebtedness shall remain outstanding, Borrower hereby covenants, warrants
and represents as follows:

(a) The Ground Lease is and shall be maintained in full force and
effect.

Borrower shall not suffer or permit any amendments or modifications of the Ground Lease to be
made, except for such amendments or modifications as are permitted in writing by Agent, such
permission not be unreasonably withheld.

(b) Borrower shall cause all rent, additional rent and other charges
payable

under the Ground Lease to be paid when due (subject to (i) any applicable notice and cure periods
under the Ground Lease and (ii) appropriate contesting of any such rent or other charges, if any,
solely as permitted by the Ground Lease, provided that Agent is provided with adequate security
for such contest).

(c) There are, as of the date hereof, and will be, no defenses to
Borrower’s

enforcement of its rights under the Ground Lease.

(d) As of the date hereof, (i) Borrower is not in default in the
performance

of any of its obligations under the Ground Lease, and (ii) there are no circumstances which, alone
or with the passage of time or the giving of notice or both, would constitute an event of default
thereunder.

(e) To Borrower’s knowledge, as of the date hereof, Ground Lessor
is not

in default in the performance of any of its material obligations under the Ground Lease.

(f) Borrower will promptly and faithfully, in all material respects,
observe,

perform and comply, or cause the observance, performance and compliance with, all the material
terms, covenants and provisions of the Ground Lease, on its part to be observed, performed and
complied with, at the times set forth therein, and, upon acquiring knowledge of the same, will
enforce the material obligations of Ground Lessor under the Ground Lease, to the end that Borrower
may enjoy all of the material rights granted it under the Ground Lease.

(g) Without Agent’s prior written consent, Borrower will not suffer or

permit a cancellation or termination of the Ground Lease, nor any subletting or assignment of any
of Borrower’s interest under the Ground Lease (other than the Master Lease and the subleases
permitted thereunder).

(h) Upon obtaining actual knowledge, Borrower will give Agent prompt

notice of any default by any party under the Ground Lease, and promptly deliver to Agent copies of
each notice of default sent or received by Borrower under the Ground Lease.

Borrower will furnish to Agent such information and evidence as Agent may reasonably request
concerning Borrower’s due observance, performance and compliance with the terms, covenants and
provisions of the Ground Lease. If any default by Borrower has occurred under the Ground Lease and
Ground Lessor has delivered written notice thereof, Agent shall have the right, but not the
obligation, to cure such default and all reasonable sums paid to cure any such default shall bear
interest at the Default Rate and shall be added to the Indebtedness in accordance with the
provisions of Section 7 of this Deed of Trust.

(j) Fee title to the Land and the leasehold estate conveyed by the
Ground

Lease shall not merge but shall always be kept separate and distinct, notwithstanding the union of
said estates in either Ground Lessor, Borrower or a third party, whether by purchase or otherwise
and accordingly, if Borrower acquires the fee title or any other estate, title or interest in the
Land demised by the Ground Lease, or any part thereof, the lien of this Deed of Trust shall attach
to, cover and be a lien upon such acquired estate, title or interest and same shall thereupon be
and become a part of the Property with the same force and effect as if specifically encumbered
herein.

(k) Neither Agent nor Lender shall have any liability or obligation
under

the Ground Lease by reason of its acceptance of this Deed of Trust.

35. Counterparts. This Deed of Trust may be executed in multiple

counterparts, each of which shall constitute an original, and together shall constitute one and the
same instrument.

36. Trustee’s Costs and Expenses; Governmental Charges. Borrower

shall pay all reasonable costs, fees and expenses of Trustee, its agents and counsel in connection
with the performance of its duties hereunder, including without limitation the cost of any
trustee’s sale guaranty or other title insurance coverage ordered in connection with any
foreclosure proceedings hereunder, and shall pay all taxes (except federal and state income taxes)
or other governmental charges or impositions imposed by any governmental authority on Trustee by
reason of its interest in the Loan Documents.

37. Substitution of Trustee. Agent may remove Trustee at any time or

from time to time for any reason (with or without cause) and appoint a successor trustee, and upon
such appointment, all powers, rights, duties and authority of Trustee, as aforesaid, shall
thereupon become vested in such successor. Such substitute trustee shall be appointed by written
instrument, duly recorded in the county or counties where the Property covered hereby is located,
which appointment may be executed by any authorized agent of Agent or in any other manner permitted
by applicable law.

38. Indemnification of Trustee. Except for gross negligence or willful

misconduct, Trustee shall not be liable for any act or omission or error of judgment. Trustee may
rely on any document believed by him in good faith to be genuine. All money received by Trustee
shall, until used or applied as herein provided, be held in trust, but need not be segregated
(except to the extent required by law), and Trustee shall not be liable for interest thereon.
Borrower hereby indemnifies Trustee against all liability and expenses which he may incur in the
performance of his duties hereunder, except those arising from Trustee’s gross negligence or
willful misconduct.

39. Other. If more than one party is named as Trustee herein, any one

party may perform any obligations or duties of the Trustee herein without the joinder of any other
party named herein. Agent may exercise any and all other rights, remedies and recourse granted
under the Loan Documents now or hereafter existing in equity or at law for the protection and
preservation of the Property.

40. Rights and Remedies of Sureties. Borrower waives any right or

remedy which Borrowers may have or be able to assert pursuant to Chapter 34 of the Texas Business
and Commerce Code pertaining to the rights and remedies of sureties.

41. Waiver of Deficiency Statute.

(a ) Waiver. In the event that the fee, a leasehold estate or any other

interest in all or any portion of the Project is foreclosed upon by judicial or nonjudicial
foreclosure sale pursuant to any of the Loan Documents (the “Foreclosed Property Interest”),
Borrower agrees as follows: Notwithstanding the provisions of Sections 51.003, 51.004 and 51.005 of
the Texas Property Code or any other similar statute hereinafter enacted (as the same may be
amended from time to time, the “Deficiency Statute”), and to the extent permitted by law, Borrower
agrees that Trustee shall be entitled to seek a deficiency judgment from Borrower or any other
party obligated for the Indebtedness or any portion thereof in an amount equal to the difference
between the amount of the Indebtedness

outstanding and the amount for which the Foreclosed Property Interest was sold pursuant to
such judicial or nonjudicial foreclosure sale. Borrower expressly recognizes that this section
constitutes a waiver of the above-cited provisions of the Deficiency Statute which would otherwise
permit Borrower and other persons against whom recovery of deficiencies could be sought or Borrower
independently (even absent the initiation of deficiency proceedings against them) to present
competent evidence of the fair market value of the Foreclosed Property Interest as of the date of
the foreclosure sale and offset against any deficiency the amount by which the foreclosure sale
price is determined to be less than such fair market value. Borrower further recognizes and agrees
that this waiver creates an irrebuttable presumption that the foreclosure sale price of the
Foreclosed Property Interest is equal to its fair market value for purposes of calculating
deficiencies owed by Borrower and any others against whom recovery of a deficiency is sought.

(b) Alternative to Waiver. Alternatively, in the event the waiver provided

for in subsection (a) above is determined by a court of competent jurisdiction to be
unenforceable, the following shall be the basis for the finder of fact’s determination of the fair
market value of the Foreclosed Property as of the date of the foreclosure sale in proceedings
governed by the Deficiency Statute: (i) the subject property shall be valued in an “as is”
condition as of the date of the foreclosure sale, without any assumption or expectation that it
will be repaired or improved in any manner before a resale after foreclosure; (ii) the valuation
shall be based upon an assumption that the foreclosure purchaser desires a resale of the Foreclosed
Property Interest for cash promptly (but no later than twelve (12) months) following the
foreclosure sale; (iii) all reasonable closing costs customarily borne by the seller in commercial
real estate transactions should be deducted from the gross fair market value of the Foreclosed
Property Interest, including, without limitation, brokerage commissions, title insurance, a survey
of the subject property, tax prorations, attorneys’ fees, and marketing costs; (iv) the gross fair
market value of the Foreclosed Property Interest shall be further discounted to account for any
estimated holding costs associated with maintaining it pending sale, including, without limitation,
utilities expenses, property management fees, taxes and assessments (to the extent not accounted
for in (iii) above), and other maintenance, operational and ownership expenses; and (v) any expert
opinion testimony given or considered in connection with a determination of the fair market value
of the Foreclosed Property Interest must be given by persons having at least five (5) years
experience in appraising property and interests therein similar to the subject Property and the
Foreclosed Property Interest and who have conducted and prepared a complete written appraisal of
the subject Property and the Foreclosed Property Interest each taking into consideration the
factors set forth above.

42. SPECIFIC NOTICE REGARDING INDEMNITIES. IT IS EXPRESSLY AGREED AND UNDERSTOOD THAT
THIS DEED OF TRUST INCLUDES INDEMNIFICATION PROVISIONS (INCLUDING, WITHOUT LIMITATION, THE
INDEMNIFICATION PROVISIONS CONTAINED IN SECTION 38) WHICH, IN CERTAIN CIRCUMSTANCES, COULD INCLUDE
AN INDEMNIFICATION BY BORROWER OF AGENT AND/OR TRUSTEE FROM

CLAIMS OR LOSSES ARISING AS A RESULT OF AGENT’S OR TRUSTEE’S OWN NEGLIGENCE.

43. Foreclosure Procedure. If Agent elects to foreclose the lien hereof for

the Indebtedness under Section 17 hereof, Agent may require the Trustee to sell all or part
of the Property, at public auction, to the highest bidder, for cash, at the county courthouse of
the county in Texas in which the Property or any part thereof is situated or, if the Property is
located in more than one county, such sale may be made at the courthouse in any county in which the
Property is situated. The sale shall take place at such area of the courthouse as shall be properly
designated from time to time by the commissioners court (or, if not so designated by the
commissioners court, at the courthouse door) of the specified county, between the hours of 10:00
o’clock a.m. and 4:00 o’clock p.m. (the commencement of such sale to occur within three (3) hours
following the time designated in the notice of sale as the earliest time at which such sale shall
occur, if required by applicable law) on the first Tuesday of any month, after giving notice of the
time, place and terms of said sale (including the earliest time at which such sale shall occur) and
of the property to be sold, in the manner hereinafter described. Notice of a sale of all or part of
the Property by the Trustee shall be given by posting written notice thereof at the courthouse door
(or other area in the courthouse as may be designated for such public notices) of the county in
which the sale is to be made, and by filing a copy of the notice in the office of the county clerk
of the county in which the sale is to be made at least twenty-one (21) days preceding the date of
the sale, and if the property to be sold is in more than one county, a notice shall be posted at
the courthouse door and filed with the county clerk of each county in which the property to be sold
is situated. In addition, Agent shall, at least twenty-one (21) days preceding the date of sale,
serve written notice of the proposed sale by certified mail on Borrower and each debtor obligated
to pay the debt secured hereby according to the records of Agent. Service of such notice shall be
completed upon deposit of the notice, enclosed in a postpaid wrapper, properly addressed to
Borrower and such debtor at the most recent address as shown by the records of Agent, in a post
office or official depository under the care and custody of the United States Postal Service. The
affidavit of any person having knowledge of the facts to the effect that such service was completed
shall be prima facie evidence of the fact of service. Any notice that is required or permitted to
be given to Borrower may be addressed to Borrower at Borrower’s address as stated above. Any notice
that is to be given by certified mail to any other debtor may, if no address for such other debtor
is shown by the records of Agent, be addressed to such other debtor at the address of Borrower as
is shown by the records of Agent. Notwithstanding the foregoing provisions of this paragraph,
notice of such sale given in accordance with the requirements of the applicable laws of the State
of Texas in effect at the time of such sale shall constitute sufficient notice of such sale.
Trustee may sell all or any portion of the Property, together or in lots or parcels, and may
execute and deliver to the purchaser or purchasers of such property, good and sufficient deeds of
conveyance of fee simple title with covenants of general warranty made on behalf of Borrower,
subject to exceptions approved by Agent. In no event shall Trustee be required to exhibit, present
or display at any such sale, any of the personalty described herein to be sold at such sale.
Trustee making such sale shall receive the proceeds thereof and shall apply the same as follows:
(i) first, he shall pay the reasonable expenses of Trustee; (ii) second, he shall pay,

so far as may be possible, the Indebtedness, discharging first that portion of the
Indebtedness arising under the covenants or agreements herein contained and not evidenced by the
Note; (iii) third, he shall pay the residue, if any, to the persons legally entitled thereto.
Payment of the purchase price to Trustee shall satisfy the obligation of the purchaser at such
sale therefor, and such purchaser shall not be responsible for the application thereof. The sale
or sales by Trustee of less than the whole of the Property shall not exhaust the power of sale
herein granted, and Trustee is specifically empowered to make successive sale or sales under such
power until the whole of the Property shall be sold; and if the proceeds of such sale or sales of
less than the whole of the Property shall be less than the aggregate of the Indebtedness and the
expenses thereof, this Deed of Trust and the lien, Property interest and assignment hereof shall
remain in full force and effect as to the unsold portion of the Property just as though no sale or
sales had been made; provided, however, that Borrower shall never have any right to require the
sale or sales of less than the whole of the Property, but Agent shall have the right, at its sole
election, to request Trustee to sell less than the whole of the Property. If an Event of Default
exists, the holder of the Indebtedness or any part thereof on which the payment is delinquent
shall have the option to proceed with foreclosure in satisfaction of such item either through
judicial proceedings or by directing Trustee to proceed as if under a full foreclosure, conducting
the sale as herein provided without declaring the entire Indebtedness due, and if sale is made
because of default of an installment, or a part of an installment, such sale may be made subject
to the unmatured part of the Indebtedness; and it is agreed that such sale, if so made, shall not
in any manner affect the unmatured part of the Indebtedness, but as to such unmatured part, this
Deed of Trust shall remain in full force and effect as though no sale had been made under the
provisions of this paragraph. Several sales may be made hereunder without exhausting the right of
sale for any unmatured part of the Indebtedness. At any such sale (1) Borrower hereby agrees, in
its behalf and in behalf of its heirs, executors, administrators, successors, personal
representatives and assigns, that any and all recitals made in any deed of conveyance given by
Trustee with respect to the identity of Agent, the occurrence or existence of any Event of
Default, the acceleration of the maturity of any of the Indebtedness, the request to sell, the
notice of sale, the giving of notice to all debtors legally entitled thereto, the time, place,
terms, and manner of sale, and receipt, distribution and application of the money realized
therefrom, or the due and proper appointment of a substitute Trustee, and, without being limited
by the foregoing, with respect to any other act or thing having been duly done by Agent or by
Trustee hereunder, shall be taken by all courts of law and equity as prima facie evidence that the
statements or recitals state facts and are without further question to be so accepted, and
Borrower hereby ratifies and confirms every act that Trustee or any substitute Trustee hereunder
may lawfully do in the premises by virtue hereof; (2) the purchaser may disaffirm any easement
granted, or rental, lease or other contract made in violation of any provision of this Deed of
Trust, and may take immediate possession of the Property free from, and despite the terms of, such
grant of easement and rental or lease contract; and (3) Agent may bid and become the purchaser of
all or any part of the Property at any trustee’s or foreclosure sale hereunder, and the amount of
Agent’s successful bid may be

credited on the Indebtedness.

44. Notice and Agreement. Pursuant to Section 26.02(e) of the Texas

Business and Commercial Code, Borrower takes notice of and covenants and agrees to the following:

(a) No agreement involving a loan of more than $50,000 in value is

enforceable unless the agreement is in writing and signed by the party to be bound or by that
party’s authorized representative. THUS, AN AGREEMENT OR COMMITMENT TO MAKE SUCH A LOAN MUST BE IN
WRITING AND SIGNED BY THE PROPOSED LENDER OR IT WILL NOT BE ENFORCEABLE.

(b) The rights and obligations of Borrower and Lender under the Loan

Documents shall be determined solely from the Loan Documents, and any prior oral agreements between
Borrower and Lender relating to the Loan are superseded by and merged into the Loan Documents.

(c) The following notice is given pursuant to Section 26.02(e) of the Texas

Business and Commerce Code:

THE LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE
CONTRADICTED BY EVIDENCE OF ORAL AGREEMENTS OF THE PARTIES, WHETHER MADE BEFORE, ON,
OR AFTER THE DATE OF THIS AGREEMENT. THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN
THE PARTIES.

[Remainder of page intentionally blank; signature page follows]

TMB-ALICE, L.P., a Delaware limited partnership

By: SMP-General Partner, LLC,

a Delaware limited liability company, its General Partner

By: Seavest Properties I, LLC,

a Delaware limited liability company, its Managing Member

By: SP I Manager, LLC,

a Delaware limited liability company, its Managing Member

By: Seavest Inc.,

a New York corporation, its Non-Member Manager

By: /s/ Douglas F. Ray

Name: Douglas F. Ray

Its: President

ACKNOWLEDGEMENT

	 	 	 	 	 
	STATE OF NEW YORK
	 	 	)	 
	 
	 	 	)	 
	COUNTY OF WESTCHESTER
	 	 	)	 

The foregoing instrument was acknowledged before me this 22nd day
of

December, 2006, by Douglas Ray, the Vice President of Seavest , Inc., a New York corporation,
non-member/ manager of SMP Manager, LLC, a Delaware limited liability company, managing member of
Seavest Medical Properties, LLC, a Delaware limited liability company, managing member of
SMP-General Partner, LLC, a Delaware limited liability company, general partner of TMB-Alice,
L.P., a Delaware limited partnership, on behalf of said limited partnership.

/s/ Ascensina D. Tookmanian

Notary Public

Ascensina D. Tookmanian

Printed Name (or Stamp) of Notary Public

My Appointment Expires: September 21, 2010

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