Document:

EX-10.7

 Exhibit 10.7 

CREDIT AGREEMENT 

DATED AS OF AUGUST 30, 2013 

CHP CALVERT MOB OWNER, LLC, 

CHP MEDICAL ARTS MOB OWNER, LLC, 

CHP DUNKIRK MOB OWNER, LLC, 

CHP SOLOMONS ISLAND MOB OWNER, LLC, 

and 
 REGIONS BANK

  
 1 

 Table of Contents 

 

									
	 	 	 	  	Page	 
			
	 Article I
	 		  	 	1	  
	 1.
	 	 DEFINITIONS
	  	 	1	  
		 	1.1	  	 Defined Terms
	  	 	1	  
		 	1.2	  	 Accounting Terms
	  	 	21	  
		 	1.3	  	 UCC Terms
	  	 	21	  
		 	1.4	  	 Construction of Terms
	  	 	22	  
		 	1.5	  	 Computation of Time Periods
	  	 	22	  
		 	1.6	  	 Reference to Borrowers, Borrower Parties and Bank Parties
	  	 	22	  
		 	1.7	  	 Bank Swap Documents
	  	 	22	  
		 	1.8	  	 Bank as Agent for Other Bank Parties
	  	 	22	  
		 	1.9	  	 Joint and Several Liability of Borrowers
	  	 	22	  
	 Article II
	 		  	 	24	  
	 2.
	 	 THE LOAN
	  	 	24	  
		 	2.1	  	 General Terms
	  	 	24	  
		 	2.2	  	 The Note
	  	 	25	  
		 	2.3	  	 Interest Rate
	  	 	25	  
		 	2.4	  	 Payments of Principal and Interest
	  	 	25	  
		 	2.5	  	 Use of Proceeds of Loan
	  	 	26	  
		 	2.6	  	 Release of Solomons Island Borrower
	  	 	26	  
	 Article III
	 		  	 	26	  
	 3.
	 	 PAYMENTS, ADDITIONAL COSTS, ETC.
	  	 	26	  
		 	3.1	  	 Default Rate
	  	 	26	  
		 	3.2	  	 Payments Under Bank Swap Documents
	  	 	26	  
		 	3.3	  	 Late Payments
	  	 	26	  
		 	3.4	  	 Payment to Bank
	  	 	27	  
		 	3.5	  	 Prepayment
	  	 	27	  
		 	3.6	  	 No Setoff or Deduction
	  	 	27	  
		 	3.7	  	 Payment on Non-Business Day; Payment Computations
	  	 	28	  
		 	3.8	  	 Additional Costs
	  	 	28	  
		 	3.9	  	 Illegality and Impossibility
	  	 	29	  
		 	3.10	  	 360-Day Year
	  	 	29	  
		 	3.11	  	 Indemnification
	  	 	29	  
		 	3.12	  	 No Requirement to Actually Obtain Funds
	  	 	29	  
		 	3.13	  	 Usury Limitation
	  	 	30	  
	 Article IV
	 		  	 	30	  
	 4.
	 	 CONDITIONS PRECEDENT
	  	 	30	  
		 	4.1	  	 Documents Required for the Closing
	  	 	30	  
		 	4.2	  	 Documents Required for the Making of the Solomons Island Advance
	  	 	33	  
		 	4.3	  	 Certain Events
	  	 	35	  
		 	4.4	  	 Election to Make Advances Prior to Satisfaction of Conditions Precedent
	  	 	36	  
	 Article V
	 		  	 	36	  
	 5.
	 	 COLLATERAL SECURITY
	  	 	36	  
		 	5.1	  	 Grant of Lien
	  	 	36	  
		 	5.2	  	 Maintenance of Lien
	  	 	36	  

  
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	 Article VI
	 		  	 	37	  
	 6.
	 	 REPRESENTATIONS AND WARRANTIES
	  	 	37	  
		 	6.1	  	 Existence
	  	 	37	  
		 	6.2	  	 Authority
	  	 	37	  
		 	6.3	  	 Consents or Approvals
	  	 	37	  
		 	6.4	  	 Violations or Actions Pending
	  	 	37	  
		 	6.5	  	 Existing Indebtedness
	  	 	38	  
		 	6.6	  	 Tax Returns
	  	 	38	  
		 	6.7	  	 Financial Statements
	  	 	38	  
		 	6.8	  	 Title
	  	 	38	  
		 	6.9	  	 Solvency
	  	 	38	  
		 	6.10	  	 Priority of Liens
	  	 	38	  
		 	6.11	  	 Accuracy of Documents
	  	 	38	  
		 	6.12	  	 Environmental and Healthcare Laws
	  	 	38	  
		 	6.13	  	 Restrictions and Covenants Affecting the Mortgaged Property
	  	 	39	  
		 	6.14	  	 Condemnation
	  	 	39	  
		 	6.15	  	 Compliance with Laws
	  	 	39	  
		 	6.16	  	 Assigned Documents
	  	 	39	  
		 	6.17	  	 Anti-Terrorism Laws
	  	 	40	  
		 	6.18	  	 Continuing Effectiveness
	  	 	41	  
	 Article VII
	 		  	 	41	  
	 7.
	 	 BORROWER’S COVENANTS
	  	 	41	  
		 	7.1	  	 Affirmative Covenants
	  	 	41	  
		 	7.2	  	 Negative Covenants
	  	 	45	  
		 	7.3	  	 Insurance and Condemnation Covenants
	  	 	46	  
		 	7.4	  	 Assigned Document Covenants
	  	 	50	  
		 	7.5	  	 Escrow Deposits
	  	 	51	  
		 	7.6	  	 Filing Fees and Taxes
	  	 	51	  
		 	7.7	  	 Further Assurances
	  	 	51	  
		 	7.8	  	 Qualified ECP Keepwell
	  	 	51	  
	 Article VIII
	 		  	 	52	  
	 8.
	 	 DEFAULT
	  	 	52	  
		 	8.1	  	 Events of Default
	  	 	52	  
		 	8.2	  	 No Advances After Default
	  	 	54	  
		 	8.3	  	 Acceleration
	  	 	54	  
		 	8.4	  	 General Remedies
	  	 	54	  
		 	8.5	  	 Bank’s Additional Rights and Remedies
	  	 	55	  
		 	8.6	  	 Right of Set-Off
	  	 	56	  
		 	8.7	  	 No Limitation on Rights and Remedies
	  	 	57	  
		 	8.8	  	 Application of Proceeds
	  	 	57	  
	 Article IX
	 		  	 	57	  
	 9.
	 	 MISCELLANEOUS
	  	 	57	  
		 	9.1	  	 Termination of Bank’s Lien
	  	 	57	  
		 	9.2	  	 Construction
	  	 	58	  
		 	9.3	  	 Indemnity
	  	 	58	  

  
 ii 

									
		 	9.4	  	 Bank’s Consent or Approval
	  	 	58	  
		 	9.5	  	 Enforcement and Waiver by Bank
	  	 	59	  
		 	9.6	  	 Expenses of Bank
	  	 	59	  
		 	9.7	  	 Attorneys’ Fees
	  	 	59	  
		 	9.8	  	 Exclusiveness
	  	 	59	  
		 	9.9	  	 Notices
	  	 	60	  
		 	9.10	  	 Waiver and Release by Borrower
	  	 	61	  
		 	9.11	  	 Limitation on Waiver of Notice, Etc.
	  	 	61	  
		 	9.12	  	 Participation
	  	 	61	  
		 	9.13	  	 Governing Law
	  	 	61	  
		 	9.14	  	 SUBMISSION TO JURISDICTION; WAIVERS
	  	 	62	  
		 	9.15	  	 Binding Effect, Assignment
	  	 	63	  
		 	9.16	  	 Entire Agreement, Amendments
	  	 	63	  
		 	9.17	  	 Severability
	  	 	63	  
		 	9.18	  	 Headings
	  	 	63	  
		 	9.19	  	 Counterparts
	  	 	63	  
		 	9.20	  	 Seal
	  	 	63	  

  
 iii 

 CREDIT AGREEMENT 

THIS CREDIT AGREEMENT is dated as of August 30, 2013, among CHP CALVERT MOB OWNER, LLC, a Delaware limited liability
company (“Calvert Borrower”), CHP MEDICAL ARTS MOB OWNER, LLC, a Delaware limited liability company (“Medical Arts Center Borrower”), CHP DUNKIRK MOB OWNER, LLC, a Delaware limited liability company (“Dunkirk
Borrower”), CHP SOLOMONS ISLAND MOB OWNER, LLC, a Delaware limited liability company (“Solomons Island Borrower”) (Calvert Borrower, Medical Arts Center Borrower, Dunkirk Borrower and Solomons Island Borrower sometimes
hereinafter referred to collectively as the “Borrowers” and each singularly as a “Borrower”), and REGIONS BANK, an Alabama banking corporation (the “Bank”). Capitalized terms used herein shall have the meanings
ascribed thereto in Section 1.1 of this Agreement. 
 WHEREAS, Bank has been requested to extend to Borrowers the Loan in the
maximum principal amount of $29,400,000.00 for the purposes hereinafter described, and Bank has agreed to extend the Loan on the terms and conditions herein contained. 

NOW, THEREFORE, in consideration of the promises herein contained, and each intending to be legally bound hereby, the parties hereto
agree as follows: 
 ARTICLE I 
  

	1.	DEFINITIONS. 

 1.1 Defined Terms. Capitalized terms used herein shall have the meanings
ascribed thereto in the recitals set forth above and as follows (such meanings to be equally applicable to the singular and plural forms thereof): 

“Adjusted LIBOR Rate” means, with respect to each Interest Period, a rate equal to the sum of (i) the LIBOR Rate, plus
(ii) two and one-half percent (2.5%). 
 “Advance” means each loan of money or credit made or extended to or for the
benefit of Borrower by Bank pursuant to this Agreement. 
 “Affiliate” means, as to any Person, each other Person that
directly or indirectly through one or more intermediaries, controls, or is controlled by, or under common control with, such Person. 

“Agreement” means this Credit Agreement, together with all modifications and amendments hereafter made. 

“ALTA” means the American Land Title Association. 

“Anti-Terrorism Laws” means any laws relating to terrorism or money laundering, including Executive Order No. 13224 and
the USA Patriot Act. 

  
 1 

 “Assigned Documents” means (i) the Assigned Leases and all guaranties or
other similar arrangements providing for the payment or performance of any obligation under any Assigned Lease, (ii) any and all agreements entered into by or for the benefit of Borrower with any developer, property manager, broker, or other
Person with respect to the development, management, leasing, operation, or use of any Project, (iii) any and all Governmental Approvals with respect to any Project, (iv) any and all operating, service, supply, and maintenance contracts
with respect to any Project, and (v) any and all rights of Borrower under any of the foregoing, including, without limitation, any rights to receive any payments or other monies under any of the foregoing. 

“Assigned Leases” means all leases presently existing or hereafter made, whether written or verbal, or any letting of, or
agreement for the use or occupancy of, any part of the Mortgaged Property, and each modification, extension, renewal and guarantee thereof. 

“Assignments of Management Agreements” means (i) that certain Assignment and Subordination of Management Agreement of
even date herewith, among Calvert Borrower, Manager and Bank, (ii) that certain Assignment and Subordination of Management Agreement of even date herewith, among Medical Arts Center Borrower, Manager and Bank, (iii) that certain Assignment
and Subordination of Management Agreement of even date herewith, among Dunkirk Borrower, Manager and Bank, and (iv) that certain Assignment and Subordination of Management Agreement to be entered into among Solomons Island Borrower, Manager and
Bank, together with all modifications and amendments at any time made to any of the foregoing. 
 “Assignment of Rents and
Leases” that certain Assignment of Rents and Leases of even date herewith, executed and delivered by Borrowers (other than Solomons Island Borrower) in favor of Bank, together with all modifications and amendments at any time made thereto.

 “Attorneys’ Fees” means attorneys’ fees actually incurred at ordinary and customary rates. 

“Bank” means Regions Bank, an Alabama banking corporation. 

“Bank Parties” means Bank and any Affiliate of Bank that is now or hereafter becomes a party to this Agreement, any other
Loan Document or any Bank Swap Document. 
 “Bank Swap Documents” means any and all Swap Documents, if any, entered into
between Borrower and any Bank Party and relating to any Loan. 
 “Bank Swap Obligations” means the obligations (including
obligations of performance) and liabilities of any Borrower Party to any Bank Party of every kind and description whatsoever, direct or indirect, absolute or contingent, due or to become due, now existing or hereafter incurred, contracted or
arising, or acquired by Bank Party from any source, joint or several, liquidated or unliquidated, regardless of how they arise or by what agreement or instrument they may be evidenced, and whether incurred as

  
 2 

 
counterparty, maker, endorser, surety, guarantor, general partner, drawer, tort-feasor, indemnitor, account party with respect to a letter of credit or otherwise, and arising out of, incurred
pursuant to and/or in connection with any Bank Swap Document, and any and all extensions and renewals of any of the same. 

“Bankruptcy Law” means Title 11, U.S. Code, or any similar Laws of any Jurisdiction for the relief of debtors, and
“Bankruptcy” means the commencement of any case or other action for relief under Bankruptcy Law. 
 “Bank’s
Lien” means the Lien granted to Bank by Borrowers pursuant to this Agreement and the other Security Documents. 
 “Borrower
Parties” means Borrowers, Guarantors and any other Person that hereafter becomes a party to this Agreement, any other Loan Document or any Bank Swap Document, and which Person is responsible in whole or in part for any of the Obligations;
and for the avoidance of any doubt, Borrower Parties shall specifically exclude CHS, any ground lessor, any tenant and any manager of a Project. 

“Borrowers” means Calvert Borrower, Medical Arts Center Borrower, Dunkirk Borrower and Solomons Island Borrower. 

“Borrower’s Interest” means all the right, title and interest of Borrower of whatever kind, nature and description,
whether now existing or hereafter arising. 
 “Borrower’s Representatives” means the president, a senior vice
president or treasurer of a Borrower, and any other person otherwise designated in writing by Borrower as Borrower’s Representatives. 

“Business Day” means any day of the year, other than Saturday or Sunday, on which banks in Birmingham, Alabama are not
required or authorized to close. 
 “Calvert Borrower” means CHP Calvert MOB Owner, LLC, a Delaware limited liability
company. 
 “Calvert Ground Lessor’s Consent” means that certain Consent and Agreement of Lessor, Lessee and Mortgagee
of even date herewith among Hospital, Calvert Borrower and Bank. 
 “Calvert MOB I Assignment Documents” means the
documentation executed and delivered in connection with Calvert Borrower’s purchase of one of the three medical office buildings comprising the Calvert Project, including, but not limited to, (i) that certain Deed of Assignment and
Assumption of Ground Lease dated as of August 30, 2013 between Calvert MOB I Seller and Calvert Borrower; (ii) that certain Blanket Conveyance, Bill of Sale and Assignment dated as of August 30, 2013 between Calvert MOB I Seller and
Calvert Borrower; and (iii) that certain Assignment and Assumption of Leases dated as of August 30, 2013 between Calvert MOB I Seller and Calvert Borrower. 

  
 3 

 “Calvert MOB I Seller” means Calvert Medical Office Building Limited
Partnership, a Maryland limited partnership. 
 “Calvert MOB II and III Assignment Documents” means the documentation
executed and delivered in connection with Calvert Borrower’s purchase of two of the three medical office buildings comprising the Calvert Project, including, but not limited to, (i) that certain Confirmatory Deed of Assignment and
Assumption of Ground Lease dated as of August 30, 2013 between CMH II and Calvert Borrower; (ii) that certain Blanket Conveyance, Bill of Sale and Assignment dated as of August 30, 2013 between CMH II and Calvert Borrower; and
(iii) that certain Assignment and Assumption of Leases dated as of August 30, 2013 between CMH II and Calvert Borrower. 

“Calvert New Ground Lease” means that certain Amended, Restated and Consolidated Ground Lease dated as of August 30,
2013 between Hospital, as landlord, and Calvert Borrower, as tenant, as amended from time to time. 
 “Calvert Project”
means three medical office buildings (totaling approximately 81,594 rentable square feet), and related site improvements, to be owned by Calvert Borrower pursuant to the Calvert New Ground Lease, constituting part of the Mortgaged Property, and
located in Prince Frederick, Calvert County, Maryland. 
 “Change in Control” means a change in the Equity Interests and/or
the Voting Power of Borrower so that, after the change, CHP owns less than 51% of the outstanding Equity Interests and Voting Power of Borrower. 

“CHP” means CNL Healthcare Properties, Inc., a Maryland corporation. 

“CHS” means Calvert Health System, Inc., a Maryland corporation. 

“CHS Lease Guaranties” means (i) those certain Guaranties dated as of August     , 2013 executed and
delivered by CHS for the benefit of Calvert Borrower, Medical Arts Center Borrower and Dunkirk Borrower, as applicable, as more particularly described on the attached Exhibit “A”; and (ii) any other lease guaranties
delivered by CHS for the benefit of any Borrower pursuant to the terms of this Agreement. 
 “Closing” means the time and
place of actual execution and delivery of this Agreement, the Note, and except as waived by Bank, the other documents, instruments, and things required by Section 4.1 hereof. 

“Closing Certificates” means those certain Closing Certificates of even date herewith, executed and delivered by Borrowers in
favor of Bank. 
 “CMH” means CMH Holding Co., a Maryland not-for-profit corporation. 

“CMH II” means CMH II Holding Co., a Maryland non-stock corporation. 

  
 4 

 “Collateral” means all of the assets of each Borrower of every kind, nature and
description, wherever located, whether now owned or hereafter acquired, including, but not limited to, the following: 
 (A) The Mortgaged
Property; 
 (B) The Assigned Leases and the other Assigned Documents; 

(C) The Rents; 
 (D) All amounts
that may be owing from time to time by Bank to Borrower in any capacity, including, without limitation, any balance or share belonging to Borrower, of any Deposit Accounts or other account with Bank; 

(E) All of Borrower’s assets which are or may be subject to Article 9 of the Uniform Commercial Code, together with all replacements
therefor, additions and accessions thereto, and proceeds (including, but without limitation, insurance proceeds) and products thereof, including, without limitation, the following: 

(1) Accounts; 

(2) Chattel Paper; 

(3) Commercial Tort Claims; 

(4) Deposit Accounts; 

(5) Documents; 

(6) Equipment; 

(7) General Intangibles; 

(8) Instruments; 

(9) Intellectual Property Rights; 

(10) Inventory; 

(11) Investment Property; 

(12) Letter-of-Credit Rights; 

(13) Payment Intangibles; 

(14) Supporting Obligations; 

(15) Rights as seller of Goods and rights to returned or repossessed Goods; 

  
 5 

 (16) All existing and future leases and use agreements of personal property
entered into by Borrower as lessor with other Persons as lessees, including without limitation the right to receive and collect all rentals and other monies, including security deposits, at any time payable under such leases and agreements; 

(17) Any existing and future leases and use agreements of personal property entered into by Borrower as lessee with other
Persons as lessors, including without limitation the leasehold interest of Borrower in such property, and all options to purchase such property or to extend any such lease or agreement; 

(18) All Fixtures of Borrower (including, but not limited to, all fixtures now or hereafter located on the Mortgaged Property);

 (19) All moneys of Borrower and all bank accounts, deposit accounts, lock boxes and other accounts in which such moneys
may at any time be on deposit or held and all investments or securities in which such moneys may at any time be invested and all certificates, instruments and documents from time to time representing or evidencing any of the same; 

(20) All claims of Borrower in any pending litigation and/or claims for any insurance proceeds; 

(21) All Records pertaining to any of the Collateral; 

(F) Any and all other assets of Borrower of any kind, nature, or description and which are intended to serve as collateral for the Loan under
any one or more of the Security Documents; and 
 (G) All interest, dividends, Proceeds, products, rents, royalties, issues and profits of
any of the property described above, including, without limitation, all monies due and to become due with respect to such property, together with all rights to receive the same, and all notes, certificates of deposit, checks and other instruments
and property from time to time delivered to or otherwise possessed by Bank for or on behalf of Borrower in substitution for or in addition to any of said property. 

“Commodity Exchange Act” means the Commodity Exchange Act (7 U.S.C. § 1 et seq.), as amended from time to time, and any
successor statute. 
 “Debt Service” means an assumed debt service (principal and interest) computed and based on the
principal indebtedness owing on the Note at the applicable time of computation, and an assumed 360 month amortization schedule at an imputed interest rate equal to the Imputed Interest Rate. 

“Debt Service Coverage Requirement” means the requirement that at all times during the term of this Agreement, the ratio of
the Net Operating Income of the Projects to Debt Service shall be not less than 1.15 to 1.0. 

  
 6 

 “Default” means the occurrence of an event described in Section 8.1 hereof
regardless of whether there shall have occurred any passage of time or giving of notice that would be necessary in order to constitute such event as an Event of Default. 

“Default Costs” means all Indemnified Losses incurred by Bank by reason of a Default. 

“Default Rate” means a variable per annum rate of interest equal to the lesser of (1) four percent (4%) in excess
of the Interest Rate otherwise payable hereunder, or (2) the maximum rate allowed by applicable Laws. 
 “Disability
Laws” means all Laws of any Jurisdiction relating to access and facilities for disabled individuals, including without limitation the Americans With Disabilities Act of 1990 (“ADA”), as amended (42 U.S.C. Sections 12101, et
seq.), and the rules and regulations adopted and publications promulgated pursuant thereto. 
 “Dunkirk Assignment
Documents” means the documentation executed and delivered in connection with Dunkirk Borrower’s purchase of the Dunkirk Project, including, but not limited to, (i) that certain Blanket Conveyance, Bill of Sale and Assignment dated
as of August 30, 2013 between CMH II and Dunkirk Borrower; and (ii) that certain Assignment and Assumption of Leases dated as of August 30, 2013 between CMH II and Dunkirk Borrower. 

“Dunkirk Borrower” means CHP Dunkirk MOB Owner, LLC, a Delaware limited liability company. 

“Dunkirk Ground Lease” means that certain Ground Lease Agreement dated as of August 30, 2013 between CMH II (as
landlord) and Dunkirk Borrower (as tenant), as amended from time to time. 
 “Dunkirk Ground Lessor’s Consent” means
that certain Consent and Agreement of Lessor, Lessee and Mortgagee of even date herewith among CMH II, Dunkirk Borrower and Bank. 

“Dunkirk Project” means a two-story, approximately 23,725 rentable square foot medical office building and related site
improvements, to be owned by Dunkirk Borrower pursuant to the Dunkirk Ground Lease, constituting part of the Mortgaged Property, and located in Dunkirk, Calvert County, Maryland. 

“Environmental Laws” means all Laws of any Jurisdiction relating to the governance or protection of the environment,
including without limitation, the Comprehensive Environmental Response Compensation and Liability Act of 1980 (“CERCLA”), as amended (42 U.S.C. Sections 9601, et seq.), the Hazardous Materials Transportation Act, as amended
(49 U.S.C. Sections 1801, et seq.), the Resource Conservation and Recovery Act (“RCRA”), as amended (42 U.S.C. Sections 6901, et seq.), the Clean Water Act, as amended (42 U.S.C. Sections 7401, et
seq.), the Toxic Substances Control Act, as amended (15 U.S.C. Sections 2601, et seq.), and the rules and regulations adopted and publications promulgated pursuant thereto, and the rules and regulations of the Occupational
Safety and Health Administration (OSHA) pertaining to occupational Laws. 

  
 7 

 “Environmental Indemnification Release Date” means with respect to any Project,
the date of the first to occur of the following dates: (a) the date on which Bank, or any of its successors or assigns, takes actual possession of the applicable Mortgaged Property following the foreclosure of the Mortgage, (b) the date on
which Bank takes actual possession of the applicable Mortgaged Property following the acceptance by Bank (or its successors or assigns) of a deed to such Mortgaged Property in lieu of foreclosure of the Mortgage, (c) the date on which all of
the Obligations are paid and satisfied in full and the Mortgage is terminated as provided therein, or (d) the date on which Borrower transfers its interest in the applicable Mortgaged Property to another Person pursuant to a transfer permitted
hereunder, provided that concurrently with such transfer Bank receives from such Person an agreement to indemnify Bank substantially identical to the terms provided in this Agreement. 

“Equity Interests” means any and all ownership or other equitable interests in an applicable Person, including any interest
represented by any capital stock, membership interests, partnership interests, or similar interests, but specifically excluding any interests of any Person solely as a creditor of Borrower. 

“Equity Owner” means any Person owning an Equity Interest. 

“Event of Default” means the occurrence of an event described in Section 8.1 hereof provided that there shall have
occurred any passage of time or giving of notice that would be necessary in order to constitute such event as an Event of Default under Section 8.1. 

“Excluded Swap Obligation” means, with respect to any Guarantor, any Swap Obligation if, and to the extent that, all or a
portion of the Guaranty of such Guarantor of such Swap Obligation (or any guaranty of such Swap Obligation), or the grant by such Guarantor of a Lien to secure such Swap Obligation (or any guaranty of such Swap Obligation), is or becomes illegal
under the Commodity Exchange Act or any rule, regulation or order of the Commodity Futures Trading Commission (or the application or official interpretation of any thereof) by virtue of such Guarantor’s failure for any reason to constitute an
“eligible contract participant” as defined in the Commodity Exchange Act and the regulations thereunder at the time the Guaranty of such Guarantor or the grant of such Lien becomes effective with respect to such Swap Obligation. If a Swap
Obligation arises under a master agreement governing more than one swap, such exclusion shall apply only to the portion of such Swap Obligation that is attributable to swaps for which such Guaranty or Lien is or becomes illegal. 

“Existing Indebtedness” means Indebtedness of Borrowers as reflected on the Financial Statements. 

“Financial Reporting Agreements” means (i) that certain Financial Reporting Agreement of even date herewith, executed
and delivered by CHS in favor of Bank, and 

  
 8 

 
(ii) any other financial reporting (or similar) agreement from any Person, providing for, among other things, such Person’s agreement to deliver to Bank financial statements and similar
reports, together with all modifications and amendments hereafter made in connection with the Loan. 
 “Financial
Statements” means the most recent balance sheet and income statement of Borrowers delivered to Bank. 
 “Financing
Statements” means the UCC-1 financing statements (including any amendments and continuations) required under this Agreement. 

“Fiscal Year” means a twelve-month period of time commencing on the first day of January. 

“Generally Accepted Accounting Principles” means generally accepted principles of accounting in effect from time to time in
the United States applied in a manner consistent with those used in preparing such financial statements as have theretofore been furnished to Bank by the applicable Person. 

“Governing Body” means the board of directors of a Person (or any Person or group of Persons exercising similar authority).

 “Governmental Approvals” means all authorizations, consents, approvals, licenses and exemptions of, registrations and
filings with, and reports to, any Governmental Authority. 
 “Governmental Authority” means any nation or government and
any political subdivision thereof, and any entity exercising executive, legislative, judicial, regulatory, or administrative functions pertaining thereto, which has or asserts jurisdiction over Bank, any Borrower Party, or any property of any of
them. 
 “Ground Leases” means the Calvert New Ground Lease, the Medical Arts Center New Ground Lease, the Dunkirk Ground
Lease, the Solomons Island Building Ground Sublease, and the Solomons Island Parking Ground Sublease. 
 “Ground Lessor’s
Consents” means the Calvert Ground Lessor’s Consent, the Medical Arts Center Ground Lessor’s Consent, the Dunkirk Ground Lessor’s Consent, the Solomons Island Building Ground Lessor’s Consent and the Solomons Island
Parking Ground Lessor’s Consent, all as amended from time to time. 
 “Guarantor” means any Person who executes and
delivers a Guaranty. 
 “Guaranty” means any guaranty at any time delivered to Bank in connection with the Loan. 

“Hazardous Materials” and “Hazardous Substances” means “hazardous materials” and “hazardous
substances” as defined under any applicable Environmental Law. 

  
 9 

 “Healthcare Laws” means all Laws of any Jurisdiction relating to the governance
or provision of healthcare services or the operation of healthcare facilities, and any rules and regulations adopted and publications promulgated pursuant thereto, including, without limitation, any Laws, rules and regulations relating to obtaining
or the maintenance of certificates of need, licenses, permits, authorizations, certificates, and the unauthorized practice of medicine. 

“Hospital” means Calvert Memorial Hospital of Calvert County, a Maryland not-for-profit corporation. 

“Improvements” means the “Improvements” as defined in the Mortgage. 

“Imputed Interest Rate” means, at an applicable time, an interest rate equal to (A) the greater of (i) 6.75%, or
(ii) the actual interest rate on the Loan at the applicable time, or (B) in the event Borrower enters into a Bank Swap Document for at least seventy-five percent (75%) of the Loan Amount and for a time period that terminates within
three months of the Maturity Date, the Swap Rate. 
 “Indebtedness” means, as to any Person, all items of indebtedness,
obligation or liability, whether matured or unmatured, liquidated or unliquidated, direct or contingent, joint or several, including, but without limitation or duplication: 

(A) All obligations of such Person for borrowed money; 

(B) All indebtedness guaranteed, directly or indirectly, in any manner, or endorsed (other than for collection or deposit in the ordinary
course of business) or discounted with recourse; 
 (C) All indebtedness in effect guaranteed, directly or indirectly, through agreements,
contingent or otherwise: 
 (1) To purchase such indebtedness; or 

(2) To purchase, sell or lease (as lessee or lessor) property, products, materials or supplies or to purchase or sell services,
primarily for the purpose of enabling the debtor to make payment of such indebtedness or to assure the owner of the indebtedness against loss; or 

(3) To supply funds to or in any other manner invest in the debtor; 

(D) All indebtedness secured by (or which the holder of such indebtedness has a right, contingent or otherwise, to be secured by) any
mortgage, deed of trust, pledge, lien, security interest or other charge or encumbrance upon property owned or acquired subject thereto, whether or not the liabilities secured thereby have been assumed; and 

  
 10 

 (E) All indebtedness incurred as the lessee of goods or services under leases that, in accordance
with Generally Accepted Accounting Principles, should be reflected on the lessee’s balance sheet. 
 “Indemnified
Losses” means all damages, dues, penalties, fines, costs (including costs of collection and court fees), amounts paid in settlement, taxes, losses, expenses, and fees (including Attorneys’ Fees and expenses). 

“Initial Advance” means an initial Advance in the amount of up to $26,273,500.00 made at Closing to pay a portion of the
purchase price of the Initial Projects, and to pay closing costs in connection with the Loan. 
 “Initial Projects” means
the Calvert Project, the Dunkirk Project and the Medical Arts Center Project. 
 “Interest-Only Period” means a period from
the date of this Agreement to February 29, 2015 (viz., the date eighteen (18) months from the date of this Agreement). 

“Interest Period” means each period commencing on a Payment Due Date and ending on the day preceding the next following
Payment Due Date thereafter; provided (i) the first Interest Period shall commence on the date of Closing and end on the day preceding the first Payment Due Date, (ii) any Interest Period that ends in a month for which there is no day
which numerically corresponds to the last day of the immediately preceding Interest Period shall end on the last day of the month, and (iii) any Interest Period that would otherwise extend beyond the Maturity Date shall end on the Maturity
Date. 
 “Interest Rate” means the actual interest rate at which the outstanding principal balance of the Note bears
interest from time to time during the term of the Note. 
 “Jurisdiction” means each and every nation or any political
subdivision thereof. 
 “Land” means the “Land” as defined in the Mortgage. 

“Laws” means each and all laws, treaties, ordinances, statutes, rules, regulations, orders, injunctions, writs or decrees of
any Governmental Authority, or any court or similar entity established by any thereof, and any requirement of Licenses and Permits, whether now in effect or hereafter enacted, including, without limitation, Disability Laws, Environmental Laws and
Healthcare Laws. 
 “LIBOR Business Day” means a day on which the office of Bank at which payments under this Agreement or
the Note are to be made is open for business and on which dealings in U.S. dollar deposits are carried out in the London interbank market. 

  
 11 

 “LIBOR Rate” means, for the applicable Interest Period, a per annum interest
rate determined pursuant to the following formula: 
  

			
	LIBOR Rate =	  	London Interbank Offered Rate
		  	1 - Reserve Requirement

 “Licenses and Permits” means all building permits, certificates of occupancy, and other
permits, licenses, approvals, and authorizations of any Governmental Authority necessary for Borrower to lease, own, use, occupy, operate, or maintain the Mortgaged Property or any part thereof. 

“Lien” means any mortgage, pledge, encumbrance, charge, security interest, assignment or other preferential arrangement of
any nature whatsoever, including any conditional sale agreement or other title retention agreement. 
 “Loan Documents”
means this Agreement, the Note, the Security Documents, the Guaranties, the Financial Reporting Agreements, the Closing Certificates, and any and all other documents or instruments of any kind heretofore, contemporaneously herewith or hereafter
executed or delivered in connection with, or evidencing, securing, guaranteeing or relating to, the Loan, whether heretofore, simultaneously herewith, or hereafter delivered, together with any and all extensions, revisions, modifications or
amendments at any time made to any of the foregoing (but specifically excluding any Bank Swap Documents). 
 “Loan Fee”
means a fee in the amount of 0.5% of the Loan Amount (viz., $147,000.00), $131,367.50 of which shall be payable to Bank at the Closing, and $15,632.50 of which shall be payable upon Bank making the Solomons Island Advance). 

“Loan” means the credit facility being extended to Borrowers pursuant to Article II of this Agreement. 

“Loan Amount” means up to Twenty-Nine Million Four Hundred Thousand and 00/100 Dollars ($29,400,000.00). 

“London Interbank Offered Rate” means, with respect to any Interest Period, that rate for deposits in U.S. dollars for a
period comparable to the term of such Interest Period which appears on Reuters Screen LIBOR01 Page (or such other page that may replace that page on that service or on such other comparable financial information reporting serviced used by Bank, in
its discretion, at the time such rate is determined) as of 11:00 a.m., London, England time on the day that is two LIBOR Business Days preceding the first day of such Interest (or (i) if not so reported, then as determined by Bank from another
recognized source or from one or more interbank quotations, in Bank’s discretion, or (ii) if such a source or interbank quotation is not available, upon such offers or other market indicators as Bank in its discretion deems appropriate
including, but not limited to, the rate offered for U.S. dollar deposits on the London inter-bank market, as long as such substitute sources and quotations are reasonably consistent in amount with the historic rates in the London Interbank Offered
Rate). If the London Interbank Offered Rate is discontinued, Bank and Borrower shall use commercially 

  
 12 

 
reasonable efforts to agree upon a substitute index rate for determining the interest rate payable on the Loan, giving due regard to the historical similarities of such substitute and the London
Interbank Offered Rate and the consequences to Borrower under any Swap Documents. 
 “Manager” means Holladay Property
Services Midwest, Inc., an Indiana corporation. 
 “Material Adverse Change” means the occurrence of an event giving rise
to a Material Adverse Effect. 
 “Material Adverse Effect” means a material adverse effect on (a) the business,
condition (financial or otherwise), operations, performance, properties or prospects of any Borrower Party; (b) the material rights and remedies of Bank under any Loan Document; (c) the ability of any Borrower Party to perform its
Obligations under any Loan Document to which it is or is to be a party; or (d) the priority of Bank’s Lien, each as determined using commercially reasonable standards. 

“Maturity Date” means the earlier of (i) August 30, 2018 (viz., the date five years from the date of this
Agreement), or (ii) the date of the occurrence of an Event of Default. 
 “Medical Arts Center Assignment Documents”
means the documentation executed and delivered in connection with Medical Arts Center Borrower’s purchase of the Medical Arts Center Project, including, but not limited to, (i) that certain Deed of Assignment and Assumption of Ground Lease
dated as of August 30, 2013 between Medical Arts Center Seller and Medical Arts Center Borrower; (ii) that certain Blanket Conveyance, Bill of Sale and Assignment dated as of August 30, 2013 between Medical Arts Center Seller and
Medical Arts Center Borrower; and (iii) that certain Assignment and Assumption of Leases dated as of August 30, 2013 between Medical Arts Center Seller and Medical Arts Center Borrower. 

“Medical Arts Center Borrower” means CHP Medical Arts MOB Owner, LLC, a Delaware limited liability company. 

“Medical Arts Center Ground Lessor’s Consent” means that certain Consent and Agreement of Lessor, Lessee and Mortgagee
of even date herewith among Hospital, Medical Arts Center Borrower and Bank. 
 “Medical Arts Center New Ground Lease”
means that certain Amended and Restated Ground Lease Agreement dated as of August 30, 2013 between Hospital (as landlord) and Medical Arts Center Borrower (as tenant), as amended from time to time. 

“Medical Arts Center Project” means a three-story, approximately 70,673 rentable square foot medical office building and
related site improvements, to be owned by Medical Arts Center Borrower pursuant to the Medical Arts Center Ground Lease, constituting part of the Mortgaged Property, and located in Prince Frederick, Calvert County, Maryland. 

  
 13 

 “Medical Arts Center Seller” means Calvert Medical Arts Center, LLC, a Maryland
limited liability company. 
 “Mortgage” means that certain Leasehold Deed of Trust / Deed of Trust and Security Agreement
of even date herewith, executed and delivered by Borrowers (other than Solomons Island Borrower) in favor of Bank, together with all modifications and amendments at any time made thereto. 

“Mortgaged Property” means the “Mortgaged Property” as defined in the Mortgage. 

“Net Operating Income” means, as of an applicable date, as determined by Bank, with respect to any particular Project,
(i) gross revenues received by Borrower (including tenant reimbursements for operating expenses and additional rent) for a trailing twelve-month period arising from leases of such Project, less (ii) ordinary and customary expenses incurred
in the ordinary course of owning, leasing and operating such Project during such twelve-month period, and less (iii) expense allocations for taxes (based upon taxes actually assessed for the current calendar year, or if such assessment for the
current calendar year has not been made, then, until such assessment has been made, ad valorem taxes shall be estimated based on the last such assessment for such Project) and insurance (based upon the last billed insurance premium for such Project,
adjusted to an annualized premium if necessary); provided however, expenses shall not include non-cash items such as depreciation and any amounts payable by Borrower for which Borrower is due to be, but has not yet been, reimbursed by any tenant
under a lease or otherwise, costs for leasehold improvements and other expenses that are capitalized in accordance with Generally Accepted Accounting Principles. 

“Note” means that certain Promissory Note of even date herewith in the principal amount of Twenty-Nine Million Four Hundred
Thousand and No/100 Dollars ($29,400,000.00), executed and delivered by Borrowers in favor of Bank, and includes any amendment to or modification of such note and any promissory note given in extension of or renewal of, or in substitution for, such
note. 
 “Obligations” means the obligations (including obligations of performance) and liabilities of any Borrower Party
to Bank of every kind and description whatsoever, direct or indirect, absolute or contingent, due or to become due, now existing or hereafter incurred, contracted or arising, or acquired by Bank from any source, joint or several, liquidated or
unliquidated, regardless of how they arise or by what agreement or instrument they may be evidenced, and whether incurred as maker, endorser, surety, guarantor, general partner, drawer, tort-feasor, indemnitor, account party with respect to a letter
of credit or otherwise, and incurred pursuant to and/or in connection with this Agreement and any of the other Loan Documents, and any and all extensions and renewals of any of the same, including but not limited to the obligation: 

(A) To pay the principal of and interest on the Note in accordance with the respective terms thereof and/or hereof, including any and all
extensions, modifications, and renewals thereof and substitutions therefor; 

  
 14 

 (B) To repay to Bank all amounts advanced by Bank hereunder, under any of the Loan Documents or
otherwise on behalf of Borrower, including, but without limitation, future advances and advances for principal or interest payments to prior secured parties, mortgagees, or lienors, or for taxes, levies, insurance, rent, or repairs to or maintenance
or storage of, any of the Collateral; 
 (C) To pay, repay or reimburse to Bank Party the Bank Swap Obligations; and 

(D) To reimburse Bank, on demand, for all of Bank’s expenses and costs, including Attorneys’ Fees and expenses, in connection with
the preparation, administration, amendment, modification, or enforcement of this Agreement and the other Loan Documents, including, without limitation, any proceeding brought or threatened to enforce payment of any of the obligations referred to in
the foregoing paragraphs (A), (B) and (C). 
 Anything in the foregoing or in any Loan Document to the contrary notwithstanding,
Excluded Swap Obligations of any Borrower Party shall not constitute Obligations. 
 “Ordinary Course of Business” means an
action taken by a Person only if: 
 (A) Such action is consistent with the past practices of such Person and is taken in the ordinary
course of the normal day-to-day operations of such Person; 
 (B) Such action is not required to be authorized by the Governing Body of such
Person; and 
 (C) Such action is similar in nature and magnitude to actions customarily taken, without any authorization by any Governing
Body, in the ordinary course of the normal day-to-day operations of other Persons that are in the same line of business as such Person. 

“Organizational Documents” means (i) the articles of incorporation and the bylaws of a corporation, (ii) the
partnership agreement and any statement of partnership of a general partnership, (iii) the limited partnership agreement and the certificate of limited partnership of a limited partnership, (iv) the certificate of formation and the limited
liability company agreement of a limited liability company, (v) any charter or similar document adopted or filed in connection with the creation, formation, or organization of a Person, and (vi) any amendment to any of the foregoing. 

“Participant” means any bank, financial institution, Affiliate of Bank, or other entity which enters into a participation
agreement with Bank and/or to whom Bank assigns all or a portion of its rights and obligations under this Agreement. 
 “Payment Due
Date” means the fifteenth (15th) day of each calendar month during the term of this Agreement. 

  
 15 

 “Permitted Leases and Other Transfers of Collateral” means the Qualified Leases
and other transfers of Collateral approved by Bank in its discretion. 
 “Permitted Liens” means: 

(A) Bank’s Lien; 
 (B)
Liens as set forth in the Title Insurance Policy; 
 (C) The following Liens, if the granting of such Lien or the attachment of such Lien to
the Collateral (i) does not otherwise constitute a Default under the terms of this Agreement, and (ii) does not give rise to a Material Adverse Change: 

(1) If the validity or amount thereof is being contested in good faith by appropriate and lawful proceedings, so long as levy
and execution thereon have been stayed and continue to be stayed, (a) Liens for taxes, assessments or charges due and payable and subject to interest or penalty, (b) Liens upon, and defects of title to, real or personal property, including
any attachment of personal or real property or other legal process prior to adjudication of a dispute on the merits; (c) Liens of mechanics, materialmen, warehousemen, carriers, or other like Liens; and (d) adverse judgments on appeal;

 (2) Liens for ad valorem taxes not delinquent; 

(3) Pledges or deposits made in the Ordinary Course of Business to secure payment of workmen’s compensation, or to
participate in any fund in connection with workmen’s compensation, unemployment insurance, old age pensions or other social security programs; 

(4) Good faith pledges or deposits made in the Ordinary Course of Business to secure performance of bids, tenders, contracts
(other than for the repayment of borrowed money) or leases, not in excess of ten percent (10%) of the aggregate amount due thereunder, or to secure statutory obligations, or surety, appeal, indemnity, performance or other similar bonds required
in the Ordinary Course of Business; and 
 (5) Purchase money security interests granted in the Ordinary Course of Business
to secure not more than one hundred percent (100%) of the purchase price of assets; and 
 (D) Easements arising by reason of zoning
restrictions, easements, licenses, reservations, covenants, rights-of-way, utility easements, building restrictions and other similar encumbrances on the use of real property which do not materially detract from the value of such real property or
interfere with the ordinary conduct of the business conducted and proposed to be conducted at such real property. 

  
 16 

 “Person” means any individual, corporation, limited liability company,
partnership, association, joint-stock company, trust, unincorporated organization, joint venture, court or Governmental Authority. 

“Petroleum Products” means “petroleum products” as defined under any applicable Environmental Law. 

“Place for Payment” means a place for payment as from time to time designated by Bank, which place for payment currently is
at the address of Bank as hereinafter provided for with respect to notices. 
 “Project(s)” means, singularly or
collectively, as the context requires, the Calvert Project, the Medical Arts Center Project, the Dunkirk Project and the Solomons Island Project. 

“Qualified ECP Guarantor” means, in respect of any Swap Obligation, each Borrower Party that has total assets exceeding
$10,000,000 at the time the relevant Guaranty or grant of the relevant Lien becomes effective with respect to such Swap Obligation, or such other Person as constitutes an “eligible contract participant” under the Commodity Exchange Act or
any regulations promulgated thereunder, or such other Person that can cause another Person to qualify as an “eligible contract participant” at such time by entering into a keepwell under Section 1a(18)(A)(v)(II) of the Commodity
Exchange Act. 
 “Qualified Lease” means 

(A) any lease of any Project (other than the Solomons Island Project) in effect as of the date of this Agreement; 

(B) any lease of the Solomons Island Project in effect as of the date of the Solomons Island Advance; 

(C) any other tenant lease of space in a Project with a third party who is not an Affiliate of Borrower and which lease (i) has been
fully executed by landlord; (ii) provides a rental rate of not less than 90% of the “market rate” for leases of similar space in comparable projects in the market; (iii) does not have a free or reduced rent period in excess of
free or reduced rent periods for comparable projects in the market; (iv) has a lease term of not more than five (5) years (unless otherwise approved by Bank); (vi) if the tenant is an Affiliate of CHS, is guaranteed pursuant to a CHS
Lease Guaranty; (vii) if any tenant is other than an individual physician or an Affiliate of CHS, is guaranteed by one or more financially responsible lease guarantors (provided that such lease guaranties shall not be required so long as
Borrower uses good faith and commercially reasonable efforts to secure such lease guaranties); and (viii) requires the applicable tenant and any lease guarantors to deliver financial statements and tax returns not less frequently than annually;
and 
 (D) Any other tenant lease of space in a Project approved by Bank in its discretion (such approval not to be unreasonably withheld or
delayed). 

  
 17 

 “Quarter” means a period of time of three (3) consecutive calendar months.

 “Quarter-End” means the last day of each of the months of March, June, September, and December. 

“Records” means correspondence, memoranda, tapes, discs, microfilm, microfiche, papers, books and other documents, or
transcribed information of any type, whether expressed in ordinary or machine language, and all filing cabinets and other containers in which any of the foregoing is stored or maintained. 

“Regulation D” means Regulation D of the Board of Governors of the Federal Reserve System from time to time in effect and
shall include any successor or other regulation or official interpretation of said Board of Governors relating to reserve requirements applicable to member banks of the Federal Reserve System. 

“Regulation “T”, Regulation “U”, or Regulation “X”” means Regulation T, Regulation U, or
Regulation X of the Board of Governors of the Federal Reserve System as now or from time to time hereafter in effect and shall include any successor or other regulation or official interpretation of said Board of Governors relating to the extension
of credit by banks for the purpose of purchasing or carrying margin stocks applicable to member banks of the Federal Reserve System. 

“Rents” means all the rents, issues, and profits now due and which may hereafter become due under or by virtue of the
Assigned Leases, together with all claims and rights to the payment of money at any time arising in connection with any rejection or breach of any of the Assigned Leases under Bankruptcy Law, including without limitation, all rights to recover
damages arising out of such breach or rejection, all rights to charges payable by a tenant or trustee in respect of the leased premises following the entry of an order for relief under Bankruptcy Law in respect of a tenant and all rentals and
charges outstanding under the Assigned Leases as of the date of entry of such order for relief. 
 “Required Endorsements”
means, to the extent available in the State of Maryland, a comprehensive endorsement, an ALTA Form 3.0 zoning endorsement, a survey endorsement specifically insuring Bank that the surveys required herein are accurate and accurately depict the same
real estate covered by the Title Insurance Policy, an access endorsement, a usury endorsement, endorsements for future advances under the Mortgage, endorsements for mechanics’ and materialmen’s liens, and any other endorsements of the
Title Insurance Policy required by Bank. 
 “Reserve Requirement” means the weighted average during an Interest Period of
the maximum aggregate reserve requirement (including all basic, supplemental, marginal and other reserves and taking into account any transitional adjustments or other scheduled changes in reserve requirements during such Interest Period) which is
imposed under Regulation D from time to time with respect to Eurocurrency funding applicable to the class of banks of which Bank is a member. 

“Security Documents” means all documents or instruments of any kind executed or delivered in connection with the Loan,
whether delivered prior to, at, or after the 

  
 18 

 
Closing, wherein Bank is granted a Lien in Borrower’s assets, and all documents and instruments executed and delivered in connection with any of the foregoing, together with any and all
extensions, revisions, modifications or amendments at any time made to any of such documents or instruments, including but not limited to this Agreement, the Mortgage, the Assignment of Rents and Leases, the Assignments of Management Agreements, and
the Financing Statements. 
 “Solid Wastes” means “solid wastes” as defined under any applicable Environmental
Law. 
 “Solomons Island Advance” means an Advance in the amount of up to $3,126,500.00 to be made to pay a portion of the
purchase price of the Solomons Island Project upon satisfaction of the conditions set forth in Section 4.2 of this Agreement. 

“Solomons Island Assignment Documents” means the documentation to be executed and delivered in connection with Solomons
Island Borrower’s purchase of the Solomons Island Project. 
 “Solomons Island Borrower” means CHP Solomons Island MOB
Owner, LLC, a Delaware limited liability company. 
 “Solomons Island Building Ground Lease” means that certain Ground
Lease Agreement dated as of August 20, 1998 between Bedford C. Glascock, Donald K. Smith and Sarah Elizabeth Smith (as landlord) and Calvert Health Ventures, Inc. (as tenant), as assigned by Calvert Health Ventures, Inc. to CMH, to be amended
pursuant to the Solomons Island Building Ground Lease Amendment, and to be subleased by CMH to Solomons Island Borrower pursuant to the Solomons Island Building Ground Sublease, as amended from time to time. 

“Solomons Island Building Ground Lease Amendment” means a First Amendment to Ground Lease Agreement to be entered into among
Bedford C. Glascock, Donald K. Smith, Sarah Elizabeth Smith and CMH, in form and substance satisfactory to Bank. 
 “Solomons Island
Building Ground Lessor’s Consent” means that certain Consent and Agreement of Lessor, Lessee and Mortgagee to be entered into among CMH, Solomons Island Borrower and Bank with respect to the Solomons Island Building Ground Sublease.

 “Solomons Island Building Ground Sublease” means a Ground Sublease Agreement (MOB) to be entered into between CMH (as
sub-landlord) and Solomons Island Borrower (as sub-tenant), in form and substance satisfactory to Bank, as amended from time to time. 

“Solomons Island Parking Ground Lease” means that certain Lease dated October 13, 1998 between the Board of County
Commissioners of Calvert County (as landlord) and Calvert Health Ventures, Inc. (as tenant), as assigned by Calvert Health Ventures, Inc. to CMH, to be amended pursuant to the Solomons Island Parking Ground Lease Amendment, and to be subleased by
CMH to Solomons Island Borrower pursuant to the Solomons Island Parking Ground Sublease, as amended from time to time. 

  
 19 

 “Solomons Island Parking Ground Lease Amendment” means a First Amendment to
Ground Lease Agreement to be entered into between the Board of County Commissioners of Calvert County and CMH, in form and substance satisfactory to Bank. 

“Solomons Island Parking Ground Lessor’s Consent” means that certain Consent and Agreement of Lessor, Lessee and
Mortgagee to be entered into among CMH, Solomons Island Borrower and Bank with respect to the Solomons Island Parking Ground Sublease, in form and substance satisfactory to Bank. 

“Solomons Island Parking Ground Sublease” means a Ground Sublease Agreement (Parking) to be entered into between CMH (as
sub-landlord) and Solomons Island Borrower (as sub-tenant), in form and substance satisfactory to Bank, as amended from time to time. 

“Solomons Island Project” means a two-story, approximately 27,389 rentable square foot medical office building and related
site improvements, to be owned by Solomons Island Borrower pursuant to the Solomons Island Building Ground Sublease and the Solomons Island Parking Ground Sublease, to constitute part of the Mortgaged Property after the satisfaction of the
conditions to making the Solomons Island Advance, and located in Solomons, Calvert County, Maryland. 
 “Solvent” and
“Solvency” mean, with respect to any Person on a particular date, that on such date (a) the fair value of the property and assets of such Person is greater than the total amount of liabilities, including, without limitation,
contingent liabilities, of such Person, (b) the present fair salable value of the assets of such Person is not less than the amount that will be required to pay the probable liability of such Person on its debts as they become absolute and
matured, (c) such Person does not intend to, and does not believe that it will, incur debts or liabilities beyond such Person’s ability to pay such debts and liabilities as they mature, and (d) such Person is not engaged in business
or a transaction, and is not about to engage in business or a transaction, for which such Person’s property would constitute an unreasonably small capital. The amount of contingent liabilities at any time shall be computed as the amount that,
in the light of all the facts and circumstances existing at such time, represents the amount that can reasonably be expected to become an actual or matured liability. 

“Swap Documents” means (a) any agreement (including terms and conditions incorporated by reference therein) which is a
rate swap agreement, basis swap, forward rate agreement, commodity swap, interest rate option, forward foreign exchange agreement, spot foreign exchange agreement, rate cap agreement, rate floor agreement, rate collar agreement, currency swap
agreement, cross-currency rate swap agreement, currency option, any other similar agreement (including any option to enter into any of the foregoing); (b) any combination of the foregoing; or (c) any master agreement for any of the
foregoing, as any of the foregoing may be amended or supplemented from time to time. 

  
 20 

 “Swap Obligation” means, with respect to any Guarantor, any obligation to pay or
perform under any agreement, contract or transaction that constitutes a “swap” within the meaning of section 1a(47) of the Commodity Exchange Act. 

“Swap Rate” means the interest rate on the Bank Swap Documents, if applicable. 

“Term Period” means the period of time from the expiration of the Interest-Only Period through the Maturity Date. 

“Third Party” means a Person not a party to this Agreement. 

“Title Insurance Company” means First American Title Insurance Company or any other title insurance company acceptable to
Bank in its discretion and authorized under applicable Law to issue the Title Insurance Policy. 
 “Title Insurance Policy”
means a standard ALTA form title insurance policy with respect to the Mortgaged Property and acceptable to Bank in its discretion, containing the Required Endorsements, dated as of the time of recording the Mortgage and endorsed or
“dated-down” to a date no more than three (3) days prior to each Advance, and issued by the Title Insurance Company to Bank upon the Mortgaged Property, subject only to those exceptions and matters of title acceptable to Bank, in
Bank’s discretion, including the Permitted Liens. 
 “Unsecured Indebtedness” means Indebtedness not secured by any
Lien. 
 “Voting Power” means, with respect to any Person, the right to vote for the election of the Governing Body of such
Person under ordinary circumstances. 
 “Without Notice” means without demand of performance or other demand,
advertisement, or notice of any kind to or upon the applicable Person, except as may be expressly required by applicable Law. 
 1.2
Accounting Terms. Accounting terms used and not otherwise defined in this Agreement have the meanings determined by, and all calculations with respect to accounting or financial matters unless otherwise provided herein shall be computed in
accordance with, Generally Accepted Accounting Principles. 
 1.3 UCC Terms. As used herein, “Accounts”, “Chattel
Paper”, “Commercial Tort Claims”, “Deposit Accounts”, “Documents”, “Equipment”, “Fixtures”, “General Intangibles”, “Goods”, “Instruments”, “Inventory”,
“Investment Property”, “Letter-of-Credit Rights”, “Payment Intangible”, “Proceeds”, “Supporting Obligations”, and other terms not specifically defined herein shall have the same respective meanings
as are given to those terms in the Uniform Commercial Code as presently adopted and in effect in the State of Delaware (except in cases and with respect to Collateral when the perfection, the effect of perfection or nonperfection, and the priority
of a Lien in the Collateral is governed by another Jurisdiction, in which case such capitalized words and phrases shall have the meanings attributed to those terms under such other Jurisdiction). 

  
 21 

 1.4 Construction of Terms. Whenever used in this Agreement, the singular number shall
include the plural and the plural the singular, pronouns of one gender shall include all genders, and use of the terms “herein”, “hereof”, and “hereunder” shall be deemed to be references to this Agreement in its
entirety unless otherwise specifically provided. 
 1.5 Computation of Time Periods. For purposes of computation of periods of time
hereunder, the word “from” means “from and including”, the words “to” and “until” each mean “to but excluding”, and the word “through” means “through and including”. 

1.6 Reference to Borrowers, Borrower Parties and Bank Parties. 

(A) Any reference in this Agreement to (i) “Borrower” shall mean each and any Borrower, singularly;
(ii) “Borrowers” shall mean all of the Borrowers, collectively (it being understood that except and only to the extent as may be clearly provided for herein to the contrary, all the Obligations of each Borrower and all Borrowers under
the Loan Documents shall be the joint and several obligations of all Borrowers); (iii) “Borrower Party” shall mean each and any Borrower Party, singularly; (iv) “Borrower Parties” shall mean all of the Borrower Parties,
collectively; (v) “Bank Party” shall mean each and any Bank Party, singularly; and (vi) “Bank Parties” shall mean all of the Bank Parties, collectively. 

(B) It is understood and agreed that with respect to the representations, warranties and covenants contained in this Agreement and the other
Loan Documents, (i) such representations, warranties and covenants are made by each Borrower with respect to itself and not with respect to any other Borrower Party, and (ii) any representations, warranties or covenants as to any
particular Collateral are made by the Borrower who is the owner of the applicable Collateral. 
 1.7 Bank Swap Documents.
Notwithstanding any provision of this Agreement or any other Loan Document to the contrary, (i) no covenant or agreement of Borrower Party shall prohibit Borrower Party from entering into any Bank Swap Document; (ii) any default or event
of default under any Bank Swap Document shall constitute an Event of Default under this Agreement; and (iii) the right of Bank to accelerate any of the Obligations shall not be construed to require the termination or unwinding of any
transactions the subject of any Bank Swap Documents. 
 1.8 Bank as Agent for Other Bank Parties. To the extent that any Lien is
granted to Bank in this Agreement or under any Loan Document as security for any Obligation of any Borrower Party to any Bank Party other than Bank, the Lien so granted shall be deemed to be a Lien granted to Bank as agent for such other Bank Party,
without the necessity of any act or consent of any Person. 
 1.9 Joint and Several Liability of Borrowers. 

(A) Each Borrower is accepting joint and several liability hereunder in consideration of the financial accommodation to be provided by Bank
under this Agreement, for the mutual benefit, directly and indirectly, of each Borrower and in consideration of the undertakings of each Borrower to accept joint and several liability for the obligations of each other Borrower. 

  
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 (B) Each Borrower jointly and severally irrevocably and unconditionally accepts, not merely as a
surety but also as a co-debtor, joint and several liability with the other Borrowers with respect to the payment and performance of all of the Obligations of Borrowers, it being the intention of the parties hereto that all the Obligations of
Borrowers shall be the joint and several obligations of each and all of the Borrowers without preferences or distinction among them. 
 (C)
If and to the extent that any Borrower shall fail to make any payment with respect to any of the Obligations of Borrowers as and when due or to perform any of the Obligations of Borrowers in accordance with the terms thereof, then in each such
event, the other Borrowers will make such payment with respect to, or perform, such Obligations. 
 (D) The obligations of each Borrower
under any Loan Document constitute full recourse obligations of such Borrower, enforceable against it to the full extent of its properties and assets, irrespective of the validity, regularity or enforceability of this Agreement or any other
circumstances whatsoever. 
 (E) Except as otherwise expressly provided in any Loan Document, each Borrower hereby waives notice of
acceptance of its joint and several liability, notice of any borrowing made under this Agreement, notice of occurrence of any Default or Event of Default, or of any demand for any payment under this Agreement or any other Loan Document, notice of
any action at any time taken or omitted by Bank under or in respect of any of the Obligations, any requirement of diligence and, generally, all demands, notice and other formalities of every kind in connection with this Agreement or any other Loan
Document. Each Borrower hereby assents to, and waives notice of, any extension or postponement of the time for the payment of any of the Obligations, the acceptance of any partial payment thereon, any waiver, consent or other action or acquiescence
by Bank at any time or times in respect of any default by any Borrower in the performance or satisfaction of any term, covenant, condition or provision of this Agreement or any other Loan Document, any and all other indulgences whatsoever by Bank in
respect of any of the Obligations, and the taking, addition, substitution or release, in whole or in part, at any time or times, of any security for any of the Obligations or in part, at any time or times, of any security for any of the Obligations
or the addition, substitution or release, in whole or in part, of any Borrower. Without limiting the generality of the foregoing, each Borrower assents to any other action or delay in acting or failure to act on the part of Bank, including, without
limitation, any failure strictly or diligently to assert any right or to pursue any remedy or to comply fully with the applicable laws or regulations thereunder which might, but for the provisions of this Section, afford grounds for terminating,
discharging or relieving such Borrower, in whole or in part, from any of its obligations under this Agreement or any other Loan Document, it being the intention of each Borrower that, so long as any of the Obligations remain unsatisfied, the
obligations of such Borrower under this Agreement or any other Loan Document shall not be discharged except by performance and then only to the extent of 

  
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such performance. The obligations of each Borrower under this Agreement and the other Loan Documents shall not be diminished or rendered unenforceable by any winding up, reorganization,
arrangement, liquidation, reconstruction or similar proceeding with respect to any Borrower Party or Bank. The joint and several liability of Borrowers hereunder shall continue in full force and effect notwithstanding any absorption, merger,
amalgamation or any other change whatsoever in the name, membership, constitution or place of formation of any Borrower Party or Bank. 

(F) The provisions of this Section are made for the benefit of Bank and its successors and assigns, and may be enforced from time to time
against any of the Borrowers as often as occasion therefor may arise and without requirement on the part of Bank first to marshal any of its claims or to exercise any of its rights against any Borrower Party or to exhaust any remedies available
against any other Borrower Party or to resort to any other source or means of obtaining payment of any of the Obligations or to elect any other remedy. The provisions of this Section shall remain in effect until all the Obligations shall have been
paid in full or otherwise fully satisfied. If at any time, any payment, or any part thereof, made in respect of any of the Obligations, is rescinded or must otherwise be restored or returned by Bank upon the insolvency, bankruptcy or reorganization
of any Borrower, or otherwise, the provisions of this Section will forthwith be reinstated in effect, as though such payment had not been made. 

(G) Notwithstanding any provision of any Loan Document, the liability of each Borrower under the Loan Documents as of any date shall be
limited to an amount equal to the greatest amount that would not render such Borrower’s obligations under the Loan Documents subject to avoidance, discharge or reduction as of such date as a fraudulent transfer or conveyance under applicable
Bankruptcy Laws or other Laws, in each instance after giving effect to all other liabilities of such Borrower, contingent or otherwise, that are relevant under applicable Bankruptcy Laws or other Laws (specifically excluding, however, any
liabilities of such Borrower to the extent that such liabilities would be discharged by payments made by such Borrower hereunder, and after giving effect to any rights of subrogation, contribution, reimbursement, indemnity or similar rights of such
Borrower pursuant to applicable Laws or otherwise, including any agreement of such Borrower with any other Person providing for an equitable allocation of such liability). Each Borrower acknowledges and agrees that the Obligations may from time to
time exceed the limitation of liability set forth in the preceding sentence without discharging, limiting or otherwise affecting the obligations of any Borrower under the Loan Documents or the rights and remedies of Bank. 

ARTICLE II 
  

	2.	THE LOAN. 

 2.1 General Terms. 

(A) Subject to the terms hereof, Bank will lend Borrowers an amount not to exceed the Loan Amount. 

  
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 (B) The Loan shall be disbursed (i) with the Initial Advance at Closing, and (ii) with
the Solomons Island Advance upon satisfaction of the conditions set forth in Section 4.2 of this Agreement. 
 (C) Bank will credit or
pay the proceeds of each Advance of the Loan to a Borrower’s deposit account with Bank, or in such other manner as Borrowers and Bank may agree (including disbursement of the Initial Advance to the Title Insurance Company’s escrow account
at Closing). 
 (D) In order to obtain the Solomons Island Advance, a Borrower’s Representative shall deliver to Bank, at least three
(3) Business Day’s prior to the date the Solomons Island Advance is sought, a written request for disbursement, which request shall include the requested amount and date of disbursement of the Solomons Island Advance. Upon Bank’s
receipt of such request and upon satisfaction of the terms and conditions of this Agreement (including, but not limited to, execution and delivery of the documents and instruments required under Section 4.2 of this Agreement), Bank will make
the Solomons Island Advance available as provided for above. Notwithstanding anything contained herein to the contrary, Bank shall not be required to make the Solomons Island Advance after December 31, 2013, nor upon the occurrence and during
the continuance of a Default. The submission by Borrowers to Bank of a request for the Solomons Island Advance shall constitute Borrowers’ representation and warranty to Bank that there is not then existing any Default. 

2.2 The Note. Borrowers’ obligation to repay the Loan shall be evidenced by the Note. 

2.3 Interest Rate. During the entire period that the Loan is outstanding, interest shall accrue at the Adjusted LIBOR Rate during each
applicable Interest Period. 
 2.4 Payments of Principal and Interest. Principal and interest on the Loan shall be payable as
follows: 
 (A) On the first Payment Due Date following the date of the Note, on each successive Payment Due Date thereafter during the
Interest-Only Period, and on the last day of the Interest-Only Period, Borrowers shall pay to Bank all accrued and unpaid interest on the outstanding principal balance of the Note. 

(B) On the first (1st) Payment Due Date during the Term Period, and on each
successive Payment Due Date thereafter during the Term Period, Borrowers shall pay to Bank (1) all accrued and unpaid interest on the outstanding principal balance of the Note, and (2) a principal payment equal to the product of (i) a
fraction, the numerator of which is one, and the denominator of which is the number of months during the Term Period, times (ii) the total principal payments that would be made over such number of months, based on the monthly amortization of
principal and interest on a hypothetical loan where (x) the principal indebtedness being amortized is equal to the principal indebtedness owing under the Loan as of the first day of the Term Period, (y) the interest rate during the
amortization period is equal to five percent (5%) per annum, and (z) the amortization period is three hundred sixty (360) months. 

  
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 (C) If not earlier demanded pursuant to Section 8.3 hereof, the outstanding principal
balance of the Loan, together with all accrued and unpaid interest thereon, shall be due and payable to Bank on the Maturity Date. 
 2.5
Use of Proceeds of Loan. The proceeds of the Loan shall be used to finance a portion of the acquisition cost of the Projects and to pay closing costs, expenses and fees in connection with the Loan and the acquisition of the Projects. 

2.6 Release of Solomons Island Borrower. In the event that the Solomons Island Advance is not made and the Solomons Island Project is
not added as part of the Collateral, upon Borrowers’ written request, Bank agrees to deliver to Solomons Island Borrower a release of the Loan Documents in form reasonably requested to effect the release of Solomons Island Borrower from any and
all obligations and liabilities under the Loan Documents arising from and after the date of such release, provided that at the time of such release (i) there shall not be existing any Default, and (ii) Solomons Island Borrower shall have
been released as a party to any applicable Bank Swap Documents. 
 ARTICLE III 

 

	3.	PAYMENTS, ADDITIONAL COSTS, ETC. 

 3.1 Default Rate. Notwithstanding any provision herein
or in any other Loan Document to the contrary, upon the occurrence and during the continuance of an Event of Default, the Interest Rate payable on the Loan shall be the Default Rate. 

3.2 Payments Under Bank Swap Documents. Notwithstanding anything contained in this Agreement or any other Loan Document to the
contrary, if all or any portion of the Loan is subject to a Bank Swap Document, and such Bank Swap Document provides for a payment schedule for principal and interest contrary to the provisions of this Agreement or any other Loan Document, the
payment schedule set forth in such Bank Swap Document shall govern with respect to that portion of the Loan subject to such Bank Swap Document. 

3.3 Late Payments. If any scheduled payment, whether principal, interest, or principal and interest, is late twelve (12) days or
more, Borrower agrees to pay a late charge equal to five percent (5%) of the amount of the payment which is late, but not more than the maximum amount allowed by applicable Laws nor less than $10.00. The foregoing provision shall not be deemed
to excuse a late payment or be deemed a waiver of any other rights Bank may have under this Agreement, including, subject to the terms hereof, the right to declare the entire unpaid principal and interest immediately due and payable. 

  
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 3.4 Payment to Bank. 

(A) All sums payable to Bank under this Agreement or under any other Loan Document shall be paid directly to Bank in immediately available
funds or by good check at the Place for Payment. If Bank shall send Borrower statements of amounts due hereunder, such statements shall be considered correct and conclusively binding on Borrower unless Borrower notifies Bank to the contrary within
thirty (30) days of its receipt of any statement which it deems to be incorrect. 
 (B) All payments to be made by Borrower hereunder
will be made to Bank not later than 2:00 p.m. at the Place for Payment on the date payment is due. Payments received after 2:00 p.m. at the Place for Payment shall be deemed to be payments made prior to 2:00 p.m. at the Place for Payment on the next
succeeding Business Day. 
 (C) Bank shall charge against any deposit account of Borrower all or any part of any amount owed by Borrower
hereunder, and Borrower hereby authorizes Bank to charge Borrower’s accounts with Bank in order to cause timely payment of amounts due hereunder to be made (subject to sufficient funds being available in such account for that purpose). 

(D) At the time of making each such payment, Borrower shall, subject to the other terms and conditions of this Agreement, specify to Bank the
Loan or other obligation of Borrower hereunder to which such payment is to be applied. In the event that Borrower fails to so specify the relevant Loan or if an Event of Default shall have occurred and be continuing, Bank may apply such payments as
it may determine in its discretion. 
 3.5 Prepayment. Borrower may prepay the principal of the Loan in whole or, from time to time,
in part, without premium or penalty. In the case of any partial prepayment, Bank shall have the right to require and shall permit the remaining principal balance to be re-amortized over the remaining term of the Loan. All partial prepayments,
whether voluntary or mandatory, shall (except as may be directed by Borrower to the contrary) be applied against the next principal payment of the Loan next coming due and in the inverse order of maturity, and no prepayment shall entitle Borrower to
cease making any payment as otherwise scheduled hereunder. 
 3.6 No Setoff or Deduction. All payments of principal and interest on
the Loan and other amounts payable by Borrower hereunder shall be made by Borrower without setoff or counterclaim, and, subject to the next succeeding sentence, free and clear of, and without deduction or withholding for, or on account of, any
present or future taxes, levies, imposts, duties, fees, assessments, or other charges of whatever nature, imposed by any Governmental Authority. If any such taxes, levies, imposts, duties, fees, assessments or other charges are imposed on any such
payments, Borrower will pay such additional amounts as may be necessary so that payment of principal of and interest on the Loan and other amounts payable hereunder, after withholding or deduction for or on account thereof, will not be less than any
amount provided to be paid hereunder and, in 

  
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any such case, Borrower will furnish to Bank certified copies of all tax receipts evidencing the payment of such amounts within thirty (30) days after the date any such payment is due
pursuant to applicable Laws. 
 3.7 Payment on Non-Business Day; Payment Computations. Except as otherwise provided in this Agreement
to the contrary, whenever any installment of principal of, or interest on, the Loan or other amount due hereunder becomes due and payable on a day which is not a Business Day, the maturity thereof shall be extended to the next succeeding Business
Day and, in the case of any installment of principal, interest shall be payable thereon at the rate per annum determined in accordance with this Agreement during such extension. 

3.8 Additional Costs. 

(A) In the event that any applicable Law now or hereafter in effect and whether or not presently applicable to Bank, or any interpretation or
administration thereof by any Governmental Authority charged with the interpretation or administration thereof, or compliance by Bank with any guideline, request or directive of any such Governmental Authority (whether or not having the force of
law), shall (i) affect the basis of taxation of payments to Bank of any amounts payable by Borrower under this Agreement (other than taxes imposed on the income of Bank), or (ii) shall impose, modify or deem applicable any reserve, special
deposit or similar requirement against assets of, deposits with or for the account of, or credit extended by Bank, or (iii) shall impose any other condition with respect to this Agreement, any other Loan Document or the Loan, and the result of
any of the foregoing is to increase the cost to Bank of making, funding or maintaining the Loan or to reduce the amount of any sum receivable by Bank thereon, then Borrower shall pay to Bank from time to time, within sixty (60) days after
written request by Bank, additional amounts sufficient to compensate Bank for such increased cost or reduced sum receivable to the extent Bank is not compensated therefor in the computation of the Interest Rate applicable to the Loan. A statement as
to the amount of such increased cost or reduced sum receivable, prepared in good faith and in reasonable detail by Bank and submitted by Bank to Borrower, shall be conclusive and binding for all purposes absent manifest error in computation. 

(B) In the event that any applicable Law now or hereafter in effect and whether or not presently applicable to Bank, or any interpretation or
administration thereof by any Governmental Authority charged with the interpretation or administration thereof, or compliance by Bank with any guideline, request or directive of any such Governmental Authority (whether or not having the force of
law), including any risk-based capital guidelines, affects or would affect the amount of capital required or expected to be maintained by Bank (or any corporation controlling Bank) and Bank determines that the amount of such capital is increased by
or based upon the existence of Bank’s obligations hereunder and such increase has the effect of reducing the rate of return on Bank’s (or such controlling corporation’s) capital as a consequence of such obligations hereunder to a
level below that which Bank (or such controlling corporation) could have achieved but for such circumstances (taking into consideration its policies with respect to capital adequacy), then Borrower shall pay to Bank from time to time,

  
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within sixty (60) days after written request by Bank, additional amounts sufficient to compensate Bank (or such controlling corporation) for any increase in the amount of capital and reduced
rate of return which Bank reasonably determines to be allocable to the existence of such Bank’s obligations hereunder. A statement as to the amount of such compensation, prepared in good faith and in reasonable detail by Bank shall be
conclusive and binding for all purposes absent manifest error in computation. 
 3.9 Illegality and Impossibility. In the event that
any applicable Law now or hereafter in effect and whether or not presently applicable to Bank, or any interpretation or administration thereof by any Governmental Authority charged with the interpretation or administration thereof, or compliance by
Bank with any guideline, request or directive of such Governmental Authority (whether or not having the force of law), including without limitation exchange controls, shall make it unlawful or impossible for Bank to maintain the Loan under this
Agreement, Borrower shall upon receipt of notice thereof from Bank repay in full the then outstanding principal amount of such Loan, together with all accrued interest thereon to the date of payment and all amounts owing to Bank, (a) on a date
no later than one hundred twenty (120) days after such notice, if Bank may lawfully continue to maintain the Loan for such period, or (b) immediately if Bank may not continue to maintain the Loan to such day. 

3.10 360-Day Year. All interest payable under the Note shall be calculated on the basis of a 360-day year by multiplying the
outstanding principal amount by the applicable per annum rate, multiplying the product thereof by the actual number of days elapsed, and dividing the product so obtained by 360. 

3.11 Indemnification. If Borrower makes any payment of principal with respect to the Loan on any other date than the last day of an
Interest Period applicable thereto, or if Borrower fails to borrow any Advance after notice has been given to Bank in accordance with this Agreement, or if Borrower fails to make any payment of principal or interest in respect of the Loan when due,
Borrower shall reimburse Bank on demand for any resulting loss or expense actually incurred by Bank, including without limitation any loss incurred in obtaining, liquidating or employing deposits from a Third Party, whether or not Bank shall have
funded or committed to fund such Advance. A statement as to the amount of such actual loss or expense (such as LIBOR breakage costs), prepared in good faith and in reasonable detail by Bank will be submitted by Bank to Borrower, and shall be
conclusive and binding for all purposes absent manifest error in computation. Calculation of all amounts payable to Bank under this Section shall be made as though Bank shall have actually funded or committed to fund the applicable Advance through
the purchase of an underlying deposit in an amount equal to the amount of such Advance in the relevant market and having a maturity comparable to the related Interest Period and through the transfer of such deposit to a domestic office of such Bank
in the United States; provided, however, that Bank may fund the Loan in any manner it sees fit and the foregoing assumption shall be utilized only for the purpose of calculation of amounts payable under this Section. 

3.12 No Requirement to Actually Obtain Funds. Notwithstanding the fact that the Interest Rate pursuant to the Loan may be calculated
based upon Bank’s cost of funds, Borrower agrees that Bank shall not be required actually to obtain funds from such source at any time. 

  
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 3.13 Usury Limitation. If, at any time, the Interest Rate payable on the Loan shall be
deemed by any competent court of law or any Governmental Authority to exceed the maximum rate of interest permitted by any applicable Laws, then, for such time as the Interest Rate would be deemed excessive, its application shall be suspended and
there shall be charged instead the maximum rate of interest permissible under such Laws, and any excess interest actually collected by Bank shall be credited as a partial prepayment of principal. 

ARTICLE IV 
  

	4.	CONDITIONS PRECEDENT. 

 The obligation of Bank to make the Loan and any Advance hereunder is
subject to the following conditions precedent: 
 4.1 Documents Required for the Closing. Prior to or concurrently with the Closing,
the following instruments, documents, and things duly executed by all proper Persons, and all in form and substance acceptable to Bank, shall have been delivered to Bank: 

(A) This Agreement; 
 (B) The
Note; 
 (C) The Mortgage (with respect to the Initial Projects), together with the following: 

(1) Evidence that the Mortgage has been (or will be) duly recorded in all filing or recording offices that Bank may deem
necessary or desirable, and that all filing and recording taxes and fees have been paid, 
 (2) The fully-paid Title
Insurance Policy, in an amount not less than the Loan Amount, insuring the Mortgage to be a valid first Lien on the Mortgaged Property described therein, free and clear of all Liens (including, but not limited to, mechanics’ and
materialmen’s Liens), excepting only Permitted Liens and other Liens approved by Bank in its discretion, and providing for such other affirmative insurance (to the extent available) and such coinsurance and direct access reinsurance as Bank may
deem reasonably necessary or desirable, 
 (3) Such consents and agreements of lessors, lessees, and other Third Parties, and
such estoppel letters and other confirmations, as Bank may deem necessary or desirable in its reasonable discretion; 

  
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 (4) Evidence that all other action that Bank may deem necessary or desirable in
its reasonable discretion in order to create and perfect a valid first Lien on such Mortgaged Property has been taken; 
 (D) The Assignment
of Rents and Leases with respect to the Initial Projects, together with evidence that the Assignment of Rents and Leases has been (or will be) duly recorded in all filing or recording offices that Bank may deem necessary or desirable, and that all
filing and recording taxes and fees have been paid; 
 (E) The Assignments of Management Agreement with respect to the Initial Projects,
together with a copy of the management agreements the subject thereof (which management agreements and property managers thereunder are subject to the review and approval of Bank); 

(F) The Financial Reporting Agreement of CHS; 

(G) Closing Certificates of Borrowers; 

(H) Financing Statements with respect to the Initial Projects, naming Borrowers (other than Solomons Island Borrower) as debtors and Bank as
secured party, together with evidence that each such Financing Statements have been duly recorded in all filing or recording offices that Bank may deem necessary or desirable, and that all filing and recording taxes and fees have been paid; 

(I) With respect to each Borrower, a certificate of an officer or other representative acceptable to Bank dated as of the date of this
Agreement, certifying as to the incumbency and signatures of the representatives of such Borrower signing each Loan Document to which such Borrower is a party, together with the following documents attached thereto: 

(1) A copy of the resolutions of such Borrower’s Governing Body authorizing the execution, delivery and performance of
each Loan Document to which such Borrower is a party; 
 (2) A copy, certified as of the most recent date practicable by the
secretary of state (or similar Governmental Authority) of the state, province, or other Jurisdiction where such Borrower is organized, of such Borrower’s Organizational Documents filed with such secretary of state (or similar Governmental
Authority); and 
 (3) A copy of such Borrower’s other Organizational Documents; 

(J) A certificate, as of the most recent date practicable, of the secretary of state (or similar appropriate Governmental Authority) and
department of revenue or taxation (or similar appropriate Governmental Authority) of the Jurisdiction in which each Borrower is organized as to the existence and good standing of such Borrower within such Jurisdiction, and a certificate, as of the
most recent date practicable, of the 

  
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secretary of state (or similar appropriate Governmental Authority) of each state where any of the Collateral is located as to the qualification and good standing of each Borrower as a foreign
entity doing business in each such state; 
 (K) Written opinions of counsel to Borrowers, addressed to Bank and dated as of the date of
Closing; 
 (L) The Financial Statements of Borrowers; 

(M) UCC-11 reports showing no Liens superior to Bank’s Lien on the Mortgaged Property and the other Collateral; 

(N) Evidence satisfactory to Bank that Borrowers have obtained all insurance policies as required under the Loan Documents, together with
evidence satisfactory to Bank that all premiums therefor have been paid and that all such policies are in full force and effect; 
 (O) An
ALTA form survey of each Initial Project, prepared by an approved surveyor, and either (i) evidence satisfactory to Bank that no part of such Projects is located in a flood hazard area, or (ii) flood insurance policies satisfactory to
Bank; 
 (P) An appraisal of each Initial Project, made at Borrowers’ expense, which must be by an M.A.I. appraiser engaged and
approved by Bank, and must be in form and substance satisfactory to Bank, and reflecting a loan to value ratio (in the aggregate) of not more than 65% (provided Bank and Borrower acknowledge and agree that neither the Solomons Island Project nor the
Solomons Island Advance shall be included in such computation until such time as the Solomons Island Advance is due to be made and the appraisal with respect thereto shall have been received and approved by Bank (which shall be a condition of the
Solomons Island Advance); 
 (Q) Copies of the purchase closing statement for each Project, reflecting a loan to cost ratio (in the
aggregate) of not more than 65%; 
 (R) An environmental/hazardous substances survey and report with respect to each Initial Project, and,
if applicable, reports and certifications in such form and from such Person(s) as Bank may require setting forth with such particularity as may be required by Bank: (i) the plans for removal of any and all Hazardous Substances, Petroleum
Products and Solid Wastes, if any, located on the Mortgaged Property comprising the Initial Projects, including an appropriate verification that such removal will be accomplished in accordance with applicable Law; (ii) the qualifications of
those Persons engaged to so remove the Hazardous Substances, Petroleum Products and Solid Wastes; and (iii) upon completion of the removal of the Hazardous Substances, Petroleum Products and Solid Wastes, certification that the Hazardous
Substances, Petroleum Products and Solid Wastes have in fact been removed; 
 (S) Copies of the Ground Leases (other than the Solomons
Island Building Ground Sublease and the Solomons Island Parking Ground Sublease), together with the Ground Lessor’s Consents (other than the Solomons Island Building Ground Lessor’s Consent and the Solomons Island Parking Ground
Lessor’s Consent); 

  
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 (T) Copies of all Assigned Leases of the Initial Projects in effect at the time of Closing,
together with the applicable CHS Lease Guaranties with respect thereto and any other applicable lease guaranties; 
 (U) Copies of the
Calvert Assignment Documents, the Dunkirk Assignment Documents and the Medical Arts Center Assignment Documents; 
 (V) The form of lease to
be utilized in connection with the leasing of the Initial Projects; 
 (W) Except as may be waived by Bank in its discretion, estoppel
certificates and subordination, attornment and non-disturbance agreements with respect to all Assigned Leases of the Initial Projects in effect at the time of Closing; and 

(X) All other items required to be provided to Bank and not otherwise set forth above. 

4.2 Documents Required for the Making of the Solomons Island Advance. Prior to or concurrently with the making of the Solomons Island
Advance, except as waived by Bank, the following instruments, documents, and things duly executed by all proper Persons, and all in form and substance acceptable to Bank, shall have been delivered to Bank: 

(A) If required by Bank, an amendment to this Agreement; 

(B) An amendment to the Mortgage (the “Mortgage Amendment”) in order to (i) add Solomons Island Borrower as a mortgagor
thereunder and (ii) add the Solomons Island Project as part of the Mortgaged Property (the “Solomons Island Mortgaged Property”), together with evidence that the Mortgage Amendment has been (or will be) duly recorded in all filing or
recording offices that Bank may deem necessary or desirable, and that all filing and recording taxes and fees have been paid, together with an endorsement to the Title Insurance Policy with respect thereto; 

(C) An amendment to the Assignment of Rents and Leases (the “Assignment of Rents and Leases Amendment”) in order to (i) add
Solomons Island Borrower as an assignor thereunder and (ii) add the Solomons Island Mortgaged Property as part of the Mortgaged Property thereunder, together with evidence that the Assignment of Rents and Leases Amendment has been (or will be)
duly recorded in all filing or recording offices that Bank may deem necessary or desirable, and that all filing and recording taxes and fees have been paid; 

(D) The Assignment of Management Agreement with respect to the Solomons Island Project, together with a copy of the management agreement the
subject thereof (which management agreement and property manager thereunder are subject to the review and approval of Bank); 

  
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 (E) Amendments to the Financing Statements in order to add the Solomons Island Mortgaged Property
as part of the Mortgaged Property thereunder, and to add Solomons Island Borrower as a debtor thereunder, together with evidence that such amendments have been duly recorded in all filing or recording offices that Bank may deem necessary or
desirable in order to create and perfect a valid first Lien on the Solomons Island Mortgaged Property in favor of Bank, and that all filing and recording taxes and fees have been paid; 

(F) With respect to each Borrower, a certificate of an officer or other representative acceptable to Bank dated as of the date of the Mortgage
Amendment, certifying as to the incumbency and signatures of the representatives of such Borrower signing the Mortgage Amendment, the Assignment of Rents and Leases Amendment, and each other document to be delivered by such Borrower pursuant
thereto, together with a copy of the resolutions of such Borrower’s Governing Body authorizing the execution, delivery and performance of the Mortgage Amendment, the Assignment of Rents and Leases Amendment, and each other document to be
delivered by such Borrower pursuant thereto; 
 (G) Written opinions of counsel to Borrowers, addressed to Bank and dated as of the date of
the Mortgage Amendment; 
 (H) UCC-11 reports showing no Liens superior to Bank’s Lien on the Solomons Island Mortgaged Property; 

(I) Evidence satisfactory to Bank that Borrowers have obtained all insurance policies as required under the Loan Documents, together with
evidence satisfactory to Bank that all premiums therefor have been paid and that all such policies are in full force and effect; 
 (J) An
ALTA form survey of the Solomons Island Project, prepared by an approved surveyor, and either (i) evidence satisfactory to Bank that no part of the Solomons Island Project is located in a flood hazard area, or (ii) a flood insurance policy
satisfactory to Bank; 
 (K) An appraisal of the Solomons Island Project, made at Borrowers’ expense, which must be by an M.A.I.
appraiser engaged and approved by Bank, and must be in form and substance satisfactory to Bank, and reflecting a loan to value ratio (in the aggregate) of not more than 65% (including the Solomons Island Project and the Solomons Island Advance);

 (L) A copy of the purchase closing statement for the Solomons Island Project, reflecting a loan to cost ratio (in the aggregate after
including the Solomons Island Project and the Solomons Island Advance ) of not more than 65%; 
 (M) An environmental/hazardous substances
survey and report with respect to the Solomons Island Project, and, if applicable, reports and certifications in such form and from such Person(s) as Bank may require setting forth with such particularity as may be required by Bank: (i) the
plans for removal of any and all 

  
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Hazardous Substances, Petroleum Products and Solid Wastes, if any, located on the Solomons Island Mortgaged Property, including an appropriate verification that such removal will be accomplished
in accordance with applicable Law; (ii) the qualifications of those Persons engaged to so remove the Hazardous Substances, Petroleum Products and Solid Wastes; and (iii) upon completion of the removal of the Hazardous Substances, Petroleum
Products and Solid Wastes, certification that the Hazardous Substances, Petroleum Products and Solid Wastes have in fact been removed; 

(N) Copies of the Solomons Island Building Ground Sublease and the Solomons Island Parking Ground Sublease (including the Solomons Island
Building Ground Sublease Amendment and the Solomons Island Parking Ground Sublease Amendment), together with the Solomons Island Building Ground Lessor’s Consent and the Solomons Island Parking Ground Lessor’s Consent; 

(O) Copies of all Assigned Leases of the Solomons Island Project in effect at the time of the making of the Solomons Island Advance, together
with the applicable CHS Lease Guaranties with respect thereto and any other applicable lease guaranties; 
 (P) Copies of the Solomons
Island Assignment Documents; 
 (Q) The form of lease to be utilized in connection with the leasing of the Solomons Island Project; 

(R) Except as may be waived by Bank in its discretion, estoppel certificates and subordination, attornment and non-disturbance agreements with
respect to all Assigned Leases of the Solomons Island Project in effect at the time of the making of the Solomons Island Advance; 
 (S)
Evidence satisfactory to Bank that, after making the Solomons Island Advance and adding the Solomons Island Mortgaged Property, the Debt Service Coverage Requirement shall be met and maintained; and 

(T) All other items required to be provided to Bank and not otherwise set forth above. 

4.3 Certain Events. At the time of Closing and each Advance: 

(A) No Default shall have occurred and be continuing; 

(B) No Material Adverse Change shall have occurred; 

(C) All of the Loan Documents shall have remained in full force and effect; 

(D) Borrowers shall have paid all fees, expenses, costs, and other amounts then owing to Bank, including the Loan Fee; and 

  
 35 

 (E) All legal matters incidental thereto shall be reasonably satisfactory to Gibbons Graham LLC,
counsel to Bank. 
 4.4 Election to Make Advances Prior to Satisfaction of Conditions Precedent. In the event Bank, at its option,
elects to make one or more Advances prior to receipt and approval of all items required by this Article, such election shall not constitute any commitment or agreement of Bank to make any subsequent Advance until all items required by this Article
have been delivered. 
 ARTICLE V 
  

	5.	COLLATERAL SECURITY 

 5.1 Grant of Lien. 

(A) As security for the prompt satisfaction of all Obligations, each Borrower hereby assigns, transfers, and sets over to Bank all of such
Borrower’s Interest in and to, and grants Bank a Lien on, upon and in such Borrower’s Interest in and to the Collateral. 
 (B) No
submission by Borrower to Bank of a schedule or other particular identification of Collateral shall be necessary to vest in Bank security title to and a security interest in each and every item of Collateral now existing or hereafter created and
acquired, but rather such title and security interest shall vest in Bank immediately upon the creation or acquisition or any item of Collateral hereafter created or acquired, without the necessity for any other or further action by Borrower or by
Bank. 
 5.2 Maintenance of Lien. 

(A) Borrower authorizes Bank to file one or more Financing Statements to perfect Bank’s Lien pursuant to the Uniform Commercial Code,
such Financing Statements to be in form and substance as required by Bank. 
 (B) Borrower hereby appoints Bank as its attorney-in-fact
(without requiring Bank to act as such) to file any Financing Statement in the name of Borrower, and to perform all other acts that Bank deems appropriate to perfect and continue Bank’s Lien and to protect and preserve the Collateral. 

(C) In connection with Bank’s Lien, Borrower will: 

(1) Execute and deliver, and cause to be executed and delivered, such documents and instruments, including amendments to the
Security Documents in form reasonably satisfactory to Bank as Bank, from time to time, may specify, and pay, or reimburse Bank upon demand for paying, all costs and taxes of filing or recording the same in such Jurisdictions as Bank may designate;
and 

  
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 (2) Take such other steps as Bank, from time to time, may reasonably direct to
protect, perfect, and maintain Bank’s Lien. 
 ARTICLE VI 

 

	6.	REPRESENTATIONS AND WARRANTIES. 

 Each Borrower represents and warrants to Bank (provided that
it is understood that each Borrower is making its representations only on its own behalf, and only to the extent of its knowledge with respect to any other Borrower), knowing that Bank will rely on such representations and warranties as an
inducement to make the Loan, that: 
 6.1 Existence. Each Borrower is a duly organized and existing entity in good standing under the
Laws of the Jurisdiction of its organization, is duly qualified and in good standing as a foreign entity in the Jurisdiction where the Project owned by such Borrower is located, and has full power and authority to consummate the transactions
contemplated by this Agreement. 
 6.2 Authority. The execution, delivery and performance of all of the Loan Documents have been duly
authorized by all requisite action by Borrower. All of the Loan Documents have been duly executed and delivered and constitute valid and binding obligations of Borrower, enforceable in accordance with their respective terms, and Bank will be
entitled to the benefits of all of the Loan Documents. 
 6.3 Consents or Approvals. No consent of any Third Party and no
authorization, approval or other action by, and no notice to or filing with, any Governmental Authority or other Third Party is required (other than those that are required and have been obtained) either (i) for the due execution, delivery,
recordation, filing or performance by any Borrower Party of this Agreement or any other Loan Document or for the consummation of the transaction contemplated hereby; (ii) for the mortgage, pledge, assignment, or grant by Borrower of Bank’s
Lien; (iii) for the perfection or maintenance of Bank’s Lien, except for the recording of the Mortgage, the Assignment of Rents and Leases, and the Financing Statements; (iv) for the exercise by Bank of its rights or remedies provided
for in this Agreement or in any of the other Loan Documents, except as may be required by applicable Laws in connection with the foreclosure and disposition of the Collateral; or (v) for the operation of Borrower’s business (other than
those permits that have been or will be obtained in Borrower’s Ordinary Course of Business). All applicable waiting periods, if any, in connection with the transactions contemplated hereby have expired without any action having been taken by
any Person restraining, preventing or imposing materially adverse conditions upon the rights of Borrower to enter into and perform its obligations under this Agreement. 

6.4 Violations or Actions Pending. There are no actions, suits, or proceedings pending or, to the best of Borrower’s knowledge,
threatened, which might have a Material Adverse Effect or which might impair the value of the Collateral. Borrower is not in violation of any agreement the violation of which will or might reasonably be expected to have a Material Adverse Effect,
and Borrower is not in violation of any order, judgment, 

  
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or decree of any court, or any statute or governmental regulation to which Borrower is subject. The execution and performance of this Agreement and the other Loan Documents by Borrower will not
result in any breach of any mortgage, lease, credit or loan agreement or any other instrument which may bind or affect Borrower. 
 6.5
Existing Indebtedness. No Borrower has any existing Indebtedness (except Indebtedness incurred pursuant to the Loan Documents). 

6.6 Tax Returns. Except as may otherwise be permitted herein, all federal, state, local and other tax returns and reports of Borrower
required by Laws have been completed in full and have been duly filed, and all taxes, assessments and withholdings shown on such returns or billed to Borrower have been paid, and Borrower maintains adequate provisions and accruals in respect of all
such federal, state, local and other taxes, assessments and withholdings. There are no unpaid assessments pending against Borrower for any taxes or withholdings, and Borrower knows of no basis therefor. 

6.7 Financial Statements. All financial statements of Borrower heretofore given and hereafter to be given to Bank are and will be true
and complete in all material respects as of their respective dates and prepared in accordance with Generally Accepted Accounting Principles, and fairly represent and will fairly represent the financial conditions of Borrower, and no Material Adverse
Change has or will have occurred in the financial conditions reflected therein after the respective date thereof upon delivery to Bank, except as may be disclosed in writing to Bank. 

6.8 Title. Borrower has good and marketable title to all its assets, including, without limitation, the Collateral, subject to no
Liens, except for Permitted Liens. 
 6.9 Solvency. Borrower is Solvent. 

6.10 Priority of Liens. Bank’s Lien constitutes a first Lien against the Collateral, prior to all other Liens, including those
which may hereafter accrue, except for the Permitted Liens. 
 6.11 Accuracy of Documents. All documents and other things furnished
to Bank by or on behalf of any Borrower Party as part of or in support of the application for the Loan or pursuant to this Agreement are true, correct, complete and accurately represent in all material respects the matters to which they pertain.

 6.12 Environmental and Healthcare Laws. To the best of Borrower’s knowledge, except as disclosed in the Phase I Environmental
Site Assessments approved by Bank with respect to the Projects, neither the Mortgaged Property nor Borrower is in violation of or subject to any existing, pending or threatened investigation or inquiry by any Governmental Authority or any remedial
obligations under any applicable Environmental Laws or Healthcare Laws, and there are no facts, conditions or circumstances known to it which could result in any such investigation or inquiry if such facts, conditions and circumstances, if any, were
fully disclosed to the applicable Governmental Authority, and Borrower will promptly notify Bank if Borrower becomes aware of any such facts, conditions or circumstances or any such investigation or inquiry.

  
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Borrower has not obtained and is not required to obtain any Governmental Approvals to construct, occupy, operate or use any buildings, improvements, fixtures or equipment in connection with the
Mortgaged Property or Improvements constructed or to be constructed by reason of any Environmental Laws or Healthcare Laws. No Petroleum Products, Hazardous Substances or Solid Wastes have been disposed of or released on the Mortgaged Property in
violation of any applicable Environmental Laws, and Borrower covenants and agrees that it will not cause there to be any violation of any Environmental Laws or Healthcare Laws in connection with its ownership and use of the Mortgaged Property,
including any violation arising from the disposal or release of Petroleum Products, Hazardous Substances or Solid Wastes on the Mortgaged Property. Notwithstanding anything to the contrary herein, Borrower shall indemnify and hold Bank harmless from
and against any fines, charges, expenses, fees, Attorneys’ Fees and costs incurred by Bank in the event Borrower or the Mortgaged Property (whether or not due to any fault of Borrower) is hereafter determined to be in violation of any
Environmental Laws or Healthcare Laws (excluding, however, any violation arising from circumstances occurring after the Environmental Indemnification Release Date, or any violation arising from the gross negligence or willful misconduct of Bank),
and this indemnity shall survive any foreclosure or deed in lieu of foreclosure and repayment of the Loan. 
 6.13 Restrictions and
Covenants Affecting the Mortgaged Property. Neither Borrower nor the Mortgaged Property is in violation of any easements, covenants or restrictions affecting the Mortgaged Property. 

6.14 Condemnation. There are no proceedings pending, or, to the best of Borrower’s knowledge, threatened, to exercise any power of
condemnation or eminent domain, with respect to the Mortgaged Property, or any interest therein, or to enjoin or similarly prevent the use of any Project. 

6.15 Compliance with Laws. All necessary action has been taken to permit full use of each Project for its intended purpose under
applicable Laws, and each Project complies with all applicable Laws. 
 6.16 Assigned Documents. 

(A) Borrower is (or, with respect to any Assigned Documents hereafter made, will be) the sole owner and holder of Borrower’s Interest in
each Assigned Document, and Borrower has not transferred or otherwise assigned any interest of Borrower as a party to any Assigned Document. 

(B) Each of the Assigned Documents is (or, with respect to any Assigned Documents hereafter made, will be) valid and enforceable in accordance
with its respective terms, and in full force and effect, and has not been (or, with respect to any Assigned Documents hereafter made, will not be) altered, modified or amended in any manner whatsoever except as permitted by this Agreement. 

  
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 (C) None of the Rents have been or will be assigned, pledged or in any manner transferred or
hypothecated, except pursuant to the Loan Documents. 
 (D) None of the Rents, for any period subsequent to the date of this Agreement, have
been or will be collected in advance of the time when such Rents become due under the terms of the Assigned Leases. 
 6.17
Anti-Terrorism Laws. 
 (A) General. No Borrower Party is in violation of any Anti-Terrorism Law, and no Borrower Party
engages in or conspires to engage in any transaction that evades or avoids, or has the purpose of evading or avoiding, or attempts to violate, any of the prohibitions set forth in any Anti-Terrorism Law. 

(B) Executive Order No. 13224. 

(1) No Borrower Party is any of the following (each a “Blocked Person”): 

(a) A Person that is listed in the annex to, or is otherwise subject to the provisions of, Executive Order No. 13224;

 (b) A Person owned or controlled by, or acting for or on behalf of, any Person that is listed in the annex to, or is
otherwise subject to the provisions of, Executive Order No. 13224; 
 (c) A Person with which any bank or other
financial institution is prohibited from dealing or otherwise engaging in any transaction by any Anti-Terrorism Law; 
 (d)
A Person that commits, threatens or conspires to commit or supports “terrorism” as defined in Executive Order No. 13224; 

(e) A Person that is named as a “specially designated national” on the most current list published by the U.S.
Treasury Department Office of Foreign Asset Control at its official website or any replacement website or other replacement official publication of such list; or 

(f) A Person who is affiliated with a Person listed above. 

(2) No Borrower Party (i) conducts any business or engages in making or receiving any contribution of funds, goods or
services to or for the benefit of any Blocked Person, or (ii) deals in, or otherwise engages in any transaction relating to, any property or interests in property blocked pursuant to Executive Order No. 13224. 

  
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 6.18 Continuing Effectiveness. All representations and warranties contained herein shall
be deemed continuing and in effect at all times while Borrower remains indebted to Bank pursuant to the Loan and shall be deemed to be incorporated by reference in each requisition for Advance by Borrower unless Borrower specifically notifies Bank
of any change therein. 
 ARTICLE VII 
  

	7.	BORROWER’S COVENANTS 

 Borrower does hereby covenant and agree with Bank that, so long as
any of the Obligations remain unsatisfied or any commitments hereunder remain outstanding, Borrower at all times will comply or cause to be complied with the following covenants: 

7.1 Affirmative Covenants. 

(A) Borrower will duly and promptly pay and perform all of Borrower’s Obligations to Bank Parties according to the terms of this
Agreement, the other Loan Documents and the Bank Swap Documents, and will cause each other Borrower Party to perform such other Borrower Party’s Obligations to Bank Parties according to the terms of this Agreement, the other Loan Documents and
the Bank Swap Documents. 
 (B) Borrower will use the proceeds of the Loan only for the purposes permitted herein, or as Bank may have
otherwise approved from time to time; and Borrower will furnish Bank such evidence as it may reasonably require with respect to such uses. 

(C) Borrower will furnish or cause to be furnished to Bank during the term of the Loan: 

(1) With respect to each Borrower and the Borrowers on a consolidated basis (i) no later than forty-five (45) days
after each Quarter-End, an income statement, detailed operating statement and balance sheet (which information may be compiled by Borrower’s in-house certified public accountants) for the preceding Quarter, all in reasonable detail, including
all supporting schedules and comments; and (ii) no later than ninety (90) days after the end of each Fiscal Year, an income statement, detailed operating statement and balance sheet (which information may be compiled by Borrower’s
in-house certified public accountants) for the preceding Fiscal Year, all in reasonable detail, including all supporting schedules and comments; 

(2) With respect to CHS, no later than ninety (90) days after the end of each Fiscal Year, an audited income statement,
detailed operating statement and balance sheet for the preceding Fiscal Year, all in reasonable detail, including all supporting schedules and comments (and Bank agrees that such financial reporting requirement may be satisfied by Bank being
provided access to publicly filed information substantially satisfying such financial reporting requirements); 

  
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 (3) If requested by Bank, with respect to any tenant occupying more than ten
percent (10%) of the space in any Project, no later than one hundred fifty (150) days after the end of each fiscal year of such tenant, an income statement, detailed operating statement and balance sheet (which information may be prepared
by such tenant’s in-house accountants) for the preceding fiscal year, all in reasonable detail, including all supporting schedules and comments (and upon the failure of any such tenant to timely deliver any such financial statement or similar
financial information, then upon request of Bank, Borrower shall use commercially reasonable efforts (including, if requested by Bank, the institution and pursuit of appropriate legal proceedings at Borrower’s expense) to cause such financial
statements or similar financial information so required be delivered); and 
 (4) No later than forty-five (45) days
after each Quarter-End, each Borrower shall provide, or cause to be provided, to Bank rent rolls and operating statements of such Borrower’s Project for the preceding Quarter in form satisfactory to Bank in its reasonable discretion. 

(D) Each Borrower will (i) engage in no business or activity other than the ownership, management and operation of the Project owned by
such Borrower; (ii) enter into no contract or agreement with any Person except upon terms and conditions that are intrinsically fair and substantially similar to those that would be available on an arms-length basis with third parties other
than such Person (except for such contracts or agreements which have been reviewed and approved by Bank); (iii) make no loan or advance to any Person (except as permitted by the Loan Documents); (iv) hold itself out to the public as a
legal entity separate and distinct from any other Person; (v) conduct business in its own name; (vi) not make any distributions that would cause it to fail to maintain adequate capital for the normal obligations reasonably foreseeable in a
business of its size and character and in light of its contemplated business operations; and (vii) maintain its assets in such a manner that it shall not be costly or difficult to segregate, ascertain or identify its individual assets from
those of any other Person. 
 (E) Borrower will duly and promptly perform all of Borrower’s material obligations under the Ground
Leases to which it is a party and the Assigned Leases according to the terms thereof. 
 (F) Bank agrees that Bank shall not require
preapproval of Qualified Leases of less than 10% of the space in any Project. With respect to any other leases of any Project entered into after the date of this Agreement, Borrower will furnish or cause to be furnished to Bank financial information
relating to the prospective tenant and any guarantors of such lease, and a draft of such lease and any guaranties thereof (it being understood that Bank reserves the right to approve the creditworthiness of any such tenant and to require guaranties
of any such lease), for Bank’s approval prior to the execution of any such lease. Upon Bank’s approval of any such tenants, guarantors, leases and guaranties (if any), and after execution and delivery of any lease, Borrower

  
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will furnish or cause to be furnished to Bank a copy of the fully-executed lease and any applicable lease guaranties, together with an estoppel certificate and a subordination, non-disturbance
and attornment agreement signed by each tenant thereunder, all such documentation to be in form and substance satisfactory to Bank. In addition, if required by Bank with respect to any tenant occupying more than 10% of the applicable Project,
Borrower will furnish or cause to be furnished to Bank one or more Financial Reporting Agreements and agreements providing for the Bank to have notice of and an opportunity to cure any defaults thereunder, all such documentation to be in form and
substance satisfactory to Bank. 
 (G) Borrower will pay when due all commitment and loan fees of Bank, all fees of any
“tax-service” firm reporting on the payment of ad valorem taxes, all expenses involved in perfecting Bank’s Lien or the priority of Bank’s Lien, and all other expenses of Bank related to the Loan, or the protection
and preservation of the Collateral, or the enforcement of any provision of this Agreement, or the preparation of this Agreement, any of the other Loan Documents, or amendments to any of them, including, without limitation, recording fees and taxes,
tax, title and lien search charges, title insurance charges, architects’, engineers’ and Attorneys’ Fees (including Attorneys’ Fees at trial and on any appeal by either Borrower or Bank), real property taxes and insurance
premiums. 
 (H) Borrower will furnish promptly to Bank such information as Bank may require concerning costs, marketing and such other
factors as Bank may reasonably require; will notify Bank promptly of any litigation instituted or threatened against any Borrower Party which, if adversely determined, would give rise to a Material Adverse Change, any deficiencies asserted or Liens
filed by the Internal Revenue Service against any Borrower Party, the Collateral, any audits of any Federal or State tax return of any Borrower Party, and the results of any such audit; will notify Bank promptly after becoming aware of any
condemnation or similar proceedings with respect to any of the Collateral, any proceeding seeking to enjoin the intended use of any Project, and of all changes in governmental requirements pertaining to any Project, utility availability, anticipated
costs of completion, and any other matters which could reasonably be expected to adversely affect Borrower’s ability to perform its obligations under this Agreement. 

(I) Borrower will permit Bank and its agents to have access to the Collateral at reasonable times. 

(J) Borrower will furnish to Bank, if Bank so requests, the contracts, bills of sale, receipted vouchers, and agreements, or any of them, to
the extent in Borrower’s possession or control, under which Borrower claims title to the materials, articles, fixtures and other personal property used or to be used in the construction or operation of any Project. 

(K) If requested by Bank, Borrower will cause, or permit Bank to cause, any Project to be reappraised at Borrower’s expense at any time
(but not more than once during any twelve-month period except (i) after an Event of Default, or (ii) if required on account of the requirements of any Governmental Authority or regulatory authority). 

  
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 (L) Borrower will certify to Bank, upon request by Bank, that: 

(1) Borrower has materially complied with and is in compliance with all terms, covenants and conditions of this Agreement that
are binding upon it; 
 (2) To Borrower’s knowledge, there exists no Default; or, if such is not the case, that one or
more specified Defaults have occurred; and 
 (3) The representations and warranties contained in this Agreement are true in
all material respects with the same effect as though made on the date of such certificate. 
 (M) Borrower will, when requested so to do,
make available for inspection and audit by duly authorized representatives of Bank any of its Records, and will furnish Bank any information regarding its business affairs and financial condition within a reasonable time after written request
therefor. Borrower shall reimburse Bank for all costs associated with such audit if the audit reveals a material discrepancy in any financial report, statement or other document provided to Bank pursuant to this Agreement. 

(N) Borrower will keep accurate and complete Records, consistent with sound business practices. 

(O) Within ten (10) Business Days of Bank’s request therefor, Borrower will furnish or cause to be furnished to Bank copies of
income tax returns filed by any Borrower Party. 
 (P) Borrower will notify Bank thirty (30) days in advance of any change in the
location of any of its places of business or of the establishment of any new place of business, or the discontinuance of any existing place of business. 

(Q) Borrower will notify Bank promptly if it becomes aware of the occurrence of any Default, or if it becomes aware of any Material Adverse
Change or the occurrence of any event that might have or give rise to a Material Adverse Effect. 
 (R) Borrower will pay or cause to be
paid when due, and before the accrual of penalties thereon, all taxes, including all real and personal property taxes and assessments levied or assessed against Borrower or the Mortgaged Property, and will provide Bank with receipted bills therefor
if requested by Bank. 
 (S) Borrower will cause the Mortgaged Property to be maintained in good and safe condition and repair, and shall,
subject to the provisions of Section 7.3 below, promptly repair, replace or rebuild any part of the Mortgaged Property which may be destroyed by any casualty, or become damaged, worn or dilapidated or which may be affected by any condemnation
or similar proceeding. 

  
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 (T) Borrower will keep the Collateral free from all Liens except the Permitted Liens; will pay
promptly all Persons supplying work or materials to any Project; will immediately discharge, or make other arrangements acceptable to Bank with respect to, any mechanic’s or other Lien filed against the Collateral or Borrower; and will duly
perform and observe all agreements, covenants and restrictions with respect to the Permitted Liens (except those that Borrower is contesting as permitted by this Agreement) and with respect to any other easement, covenant or restriction now or
hereafter affecting the Collateral. 
 (U) Borrower shall maintain the Debt Service Coverage Requirement. 

(V) During the term of this Agreement, Borrowers shall maintain with Bank all of their operating accounts and other deposit accounts with
respect to the Projects. 
 7.2 Negative Covenants. 

(A) No Borrower will change its name, enter into any merger, consolidation, liquidation, reorganization or recapitalization, or dissolve, nor
amend nor modify any of its Organizational Documents in any material respect without the consent of Bank. 
 (B) No Borrower will sell,
transfer, lease or otherwise dispose of, or enter into any agreement to sell, lease, transfer, assign or otherwise dispose of the Collateral, except for Permitted Leases and Other Transfers of Collateral. 

(C) No Borrower will declare or pay any dividends, or make any other payment or distribution to any of its Equity Owners, if such payment or
distribution would otherwise give rise to a Default. 
 (D) No Borrower will become liable, directly or indirectly, as guarantor or
otherwise for any obligation of any Third Party in an amount exceeding $10,000.00 in the aggregate. 
 (E) No Borrower will incur, create,
assume, or permit to exist any Indebtedness except: 
 (1) The Loan; 

(2) The Existing Indebtedness; 

(3) Indebtedness otherwise expressly permitted under the terms of this Agreement or any other Loan Document, if any; and 

  
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 (4) Indebtedness incurred in Borrower’s Ordinary Course of Business, so long
as such Indebtedness is either Unsecured Indebtedness or Indebtedness secured by a Permitted Lien. 
 (F) No Borrower will permit any
material changes to any Ground Lease to which it is a party, any tenant lease or any CHS Lease Guaranty unless there is first obtained the prior written approval of Bank. 

(G) No Borrower will permit any material changes to the form of tenant lease to be used in connection with the leasing of the Project owned by
such Borrower, unless there is first obtained the prior written approval of Bank. 
 (H) No Borrower will, without Bank’s prior written
consent, issue, redeem, purchase or retire any of its Equity Interests or grant or issue any warrant, right or option pertaining thereto or any other security convertible into any of the foregoing, nor otherwise permit any voluntary transfer, sale,
redemption, retirement, or other change in the ownership of any Equity Interests of Borrower by the owners of such Equity Interests if the same would result in a Change in Control. 

(I) No Borrower will furnish Bank any certificate or other document that will contain any untrue statement of material fact or that will omit
to state a material fact necessary to make it not misleading in light of the circumstances under which it was furnished. 
 (J) No Borrower
will, directly or indirectly, apply any part of the proceeds of the Loan to the purchasing or carrying of any “margin stock” within the meaning of Regulation T, Regulation U, or Regulation X, or any regulations, interpretations or rulings
thereunder. 
 (K) No Borrower will treat, store, handle, discharge, or dispose of any Hazardous Materials, Petroleum Products, or Solid
Wastes except in compliance with all Environmental Laws. 
 (L) No Borrower will mortgage, assign, pledge or grant any mortgage, security
interest, or other right in any Collateral to any Person other than Bank and under Permitted Liens, nor permit any Lien to attach to any Collateral or any levy to be made thereon or any financing statement (other than those of Bank or as may be
filed with regard to the Permitted Liens) to be on file in any public office with respect to any of the Collateral. 
 7.3 Insurance and
Condemnation Covenants. 
 (A) Borrower will obtain and maintain, or cause to be obtained and maintained, at all times while Borrower is
indebted to Bank, at Borrower’s sole expense: (a) the Title Insurance Policy; (b) insurance as more particularly described on the attached Schedule 7.3; and (c) such other insurance on the Projects as may
from time to time be required by Bank (including, but not limited to, boiler and machinery insurance, earthquake insurance, and terrorism insurance) against insurable hazards or casualties 

  
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which at the time are commonly insured against in the case of premises similarly situated, due regard being given to the height, type, construction, location, use and occupancy of buildings and
improvements. If any insurer which has issued a policy of title, hazard, liability or other insurance required pursuant to this Agreement or any other Loan Document becomes insolvent or the subject of any Bankruptcy, receivership or similar
proceeding or if the financial strength rating falls below “A- VII”, Borrower shall, in each instance promptly upon the request of Bank and at Borrower’s expense, obtain and deliver to Bank a like policy (or, if and to the extent
permitted by Bank, a certificate of insurance) issued by another insurer, which insurer and policy meet the requirements of this Agreement or such other Loan Documents, as the case may be. A satisfactory certificate of insurance of each initial
insurance policy shall be delivered to Bank at the time of execution of this Agreement, with premiums fully paid. Upon renewal or substitution of such insurance policies, certificates of insurance evidencing such renewal or substitution shall be
delivered to Bank as promptly as possible, but in no event later than three (3) Business Days after the expiration date of the policy it renews or replaces (and, upon request of Bank, Borrower shall also deliver copies of such renewed or
substituted insurance policies). Borrower shall pay all premiums on policies required hereunder as they become due and payable and promptly deliver to Bank evidence satisfactory to Bank of the timely payment thereof. In the event Borrower fails to
provide, maintain, keep in force or deliver and furnish to Bank the insurance required by this Section and after three (3) Business Days written notice from Bank to comply, Bank may procure such insurance or single-interest insurance for such
risks covering Bank’s interest, and Borrower will pay all premiums thereon promptly upon demand by Bank. Until such payment is made by Borrower, the amount of all such premiums shall be added to and become part of the Obligations. If any loss
occurs at any time when Borrower has failed to perform Borrower’s covenants and agreements in this Section, Bank shall nevertheless be entitled to the benefit of all insurance covering the loss and held by or for Borrower, to the same extent as
if it had been made payable to Bank. Upon any foreclosure of the Mortgage or transfer of title to any Project in extinguishment of the whole or any part of the Loan or any other amounts owing by Borrower to Bank, all of Borrower’s right, title
and interest in and to all proceeds payable thereunder shall thereupon vest in the purchaser at foreclosure or other such transferee, to the extent permissible under such policies. After the occurrence of an Event of Default or in case of any loss
in excess of $500,000.00, Bank shall have the right (but not the obligation) to make proof of loss for, settle and adjust any claim under, and receive the proceeds of, all insurance for loss of or damage to the Projects, and the expenses incurred by
Bank in the adjustment and collection of insurance proceeds shall be added to and become part of the Obligations and shall be due and payable to Bank on demand. Bank shall not be, under any circumstances (other than Bank’s gross negligence or
willful misconduct), liable or responsible for failure to collect or exercise diligence in the collection of any of such proceeds or for the obtaining, maintaining or adequacy of any insurance or for failure to see to the proper application of any
amount paid over to Borrower. Any such proceeds received by Bank shall be applied and disbursed as provided in this Agreement. Borrower appoints Bank as Borrower’s attorney in fact to cause the issuance of or an endorsement of any policy and to
otherwise bring Borrower into compliance with the provisions of this Section and to make any claim for, receive payment for, and execute and endorse any documents, checks or other instruments in payment for loss, theft, or damage under any such
insurance policy. 

  
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 (B) Subject to the provisions of the immediately succeeding paragraph, after deducting from any
casualty insurance proceeds all of its expenses incurred in the collection and administration of such sums, including Attorneys’ Fees, Bank shall apply the same at its option (i) to the payment of the Obligations, whether or not due and in
whatever order Bank elects (in which case a portion of or the entire Obligations shall, at Bank’s option, immediately become due and payable), (ii) to the repair and/or restoration of the Improvements, or (iii) for any other purposes
or objects for which Bank is entitled to advance funds under any Loan Document, all without affecting Bank’s Lien, and any balance of such monies then remaining shall be paid to Borrower or the Person lawfully entitled thereto. 

(C) Notwithstanding the foregoing, if no Event of Default has occurred (and if there shall then be no event which with the passage of time
and/or giving of notice would constitute an Event of Default), then Borrower shall have the right to settle, adjust or compromise any claim for Damage if the total amount of such claim is less than $500,000.00, provided that Borrower promptly uses
the full amount of such insurance proceeds for Restoration of the Damage and provides evidence thereof to Bank in a manner acceptable to Bank. If Borrower receives any insurance proceeds for the Damage, then Borrower shall promptly deliver the
proceeds to Bank. 
 (D) Notwithstanding the provisions of the immediately preceding paragraph to the contrary, and a claim is greater than
$500,000.00, Bank agrees that the proceeds of any casualty insurance or any part thereof (after deducting therefrom all of its expenses incurred in the collection and administration of such sums, including Attorneys’ Fees) payable on account of
loss or damage to the Improvements will be made available by Bank to be applied by Borrower to restoration or repair of the Improvements provided the following conditions are met: 

(1) There exists no Default; 

(2) Borrower presents sufficient evidence satisfactory to Bank that (A) the Improvements are capable of being, and will
be, restored in compliance with all applicable Laws to an architectural whole and to substantially the same condition and value as prior to the casualty, (B) restoration of the Improvements to an architectural whole will be completed on or
before the Maturity Date, (C) there are sufficient funds from such insurance proceeds and other available monies, to completely restore or repair the Improvements to an architectural whole, as well as to maintain relevant debt service coverages
and other operating expenses, and (D) Bank will not incur any liability to any other Person as a result of such use or release of insurance proceeds; 

(3) The plans and specifications for restoration or repair are approved in writing by Bank, in its sole discretion (and Bank
agrees to respond promptly with respect to any proposed plans and specifications); 

  
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 (4) All parties having existing or expected possessory interests in the
Improvements agree to continue, in a manner satisfactory to Bank, to fulfill the contract terms then in effect following the restoration or repair (including, without limitation, the payment of rent or other sums without abatement or reduction
except as approved by Bank, in its sole discretion), or Borrower shall deliver security satisfactory to Bank, in its sole and absolute discretion, to substitute for the loss of income caused by the failure of any such possessory interest to agree to
continue to fulfill the contract terms then in effect following restoration or repair; 
 (5) All parties having operating,
management or franchise interests in, and arrangements concerning, the Improvements, if any, agree that they will continue their interests and arrangements for the contract terms then in effect following the restoration or repair; 

(6) All parties having commitments to provide financing with respect to the Improvements, to purchase Borrower’s interest
in full or in part in the Improvements, or to purchase the Loan, agree in a manner satisfactory to Bank that their commitments will continue in full force and effect and, if necessary, the expiration of such commitments will be extended by the time
necessary to complete the restoration or repair; and 
 (7) Borrower shall enter into such agreements and deliver such other
documents and other things as may be required by Bank in connection with the disbursement of all such proceeds. 
 If the foregoing
conditions are satisfied within ninety (90) days after the date of loss, then the insurance proceeds shall be held by Bank and, after deducting from said insurance proceeds all of its expenses incurred in the collection and administration of
such sums, including Attorneys’ Fees, Bank shall disburse the net insurance proceeds to or on behalf of Borrower as repair or restoration progresses and to the extent such proceeds are required to defray the expenses of such restoration or
repair; and to the extent any such proceeds are not required to defray the expenses of such restoration or repair, Bank may, at its option, apply any such unused proceeds as provided for in the immediately preceding paragraph (B) of this
Section. At all times during such restoration or repair, Borrower shall deposit with Bank funds which, when added to insurance proceeds on deposit with Bank, are sufficient to complete the restoration or repair of the Improvements to an
architectural whole, as determined by Bank, in Bank’s discretion, in accordance with the approved plans and specifications and all applicable Laws. 

If the conditions set forth in clauses (1) through (7) of this Section are not satisfied within ninety (90) days of the date of
loss, then the insurance proceeds shall be disbursed as provided for in the immediately preceding paragraph (B) of this Section. 
 (E)
If all or any material portion of any Project shall be damaged or taken through condemnation (which term shall include any damage or taking by any Governmental Authority and any transfer by private sale in lieu thereof), either

  
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temporarily or permanently, other than a taking for the purpose of widening existing roads bordering the Land or for utility easements or any other similar purpose which does not adversely affect
access or the use of such Project for its intended purposes, then a portion of or the entire Obligations shall, at the option of Bank, immediately become due and payable. Borrower, immediately upon obtaining knowledge of the institution, or the
proposed, contemplated or threatened institution of any action or proceeding for the taking through condemnation of any Project or any part thereof will notify Bank, and Bank is hereby authorized, at its option, to commence, appear in and prosecute,
through counsel selected by Bank, any action or proceeding relating to any condemnation. Borrower may compromise or settle any claim for compensation; but shall not make any compromise or settlement for an award unless all of the Obligations are
paid and satisfied in full, without the prior written consent of Bank; such compensation, awards, damages, claims, rights of action and proceeds and the right thereto are hereby assigned by Borrower to Bank, and Bank is authorized, at its option, to
collect and receive all such compensation, awards or damages and to give proper receipts and acquittances therefor without any obligation to question the amount of any such compensation, awards or damages; and after deducting from said condemnation
proceeds all of its expenses incurred in the collection and administration of such sums, including Attorneys’ Fees, the net proceeds shall be dealt with by Bank in accordance with, and subject to, the same terms and conditions as set forth in
Paragraph (B) or Paragraph (C), as applicable, of Section 7.3 hereof as if the condemnation proceeds were insurance proceeds and as if the date the condemnation proceeds become payable to Borrower was the date of loss. 

7.4 Assigned Document Covenants. 

Except as may otherwise be expressly provided for in this Agreement, including the immediately following paragraph, Borrower shall
(a) observe and perform all the obligations imposed upon Borrower under each Assigned Document; (b) not do, or permit to be done, anything to impair the security of any Assigned Document; (c) promptly send to Bank copies of each
notice of default which Borrower shall send or receive under the Assigned Documents; (d) enforce the performance and observance of the provisions of each Assigned Document; (e) not collect any of the Rents except as set forth in this
Agreement; (f) not subordinate any Assigned Document to any Lien, or permit, consent, or agree to any such subordination without the prior written consent of Bank; (g) not alter, modify or change, in any material respect, the terms of any
Assigned Document, nor give any consent to exercise any option required or permitted by such terms (to the extent such consent is required) without the prior written consent of Bank in each such case; (h) not cancel or terminate any Assigned
Document, or accept a surrender of any Assigned Document; (i) not convey or transfer, and shall not suffer or permit a conveyance or transfer of, the Mortgaged Property, or of any interest in the Mortgaged Property, so as to affect directly or
indirectly, approximately or remotely, a merger of the estates and rights of, or a termination or diminution of the obligations of any other party to and under any Assigned Lease; (j) not alter, modify or change, in any material respect, the
terms of any guaranty of any Assigned Document, and shall not cancel or terminate any such guaranty, without the prior written consent of Bank in each such case; (k) not consent to any assignment of, or subletting under, any Assigned Lease (to
the extent such consent is required) without the prior written consent of Bank; (l) at Bank’s request, 

  
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execute any documentation confirming the assignment and transfer to Bank of each Assigned Document; and (m) execute and deliver, at the request of Bank, all other further assurances,
confirmations and assignments in the Assigned Documents as Bank shall, from time to time, reasonably require in order to evidence or secure the rights of Bank hereunder. 

Notwithstanding the provisions of the immediately preceding paragraph, so long as there shall not exist any Event of Default, then Borrower
shall have the right and license to continue to exercise all its rights and perform its obligations under the Assigned Documents, including the right to collect each payment of Rents at the time of the date provided in the applicable Assigned Lease
for such payment. 
 7.5 Escrow Deposits. At the option of Bank and further to secure the payment of taxes, assessments, other
charges, and insurance premiums applicable or attributable to the Mortgaged Property, Borrower shall upon request of Bank following a Default deposit with Bank, on the first day of each month, such amounts as, in the reasonable estimation of Bank,
shall be necessary to pay such taxes, assessments, charges and premiums as they become due; said deposits to be held and to be used by Bank to pay such taxes, assessments, charges and premiums as the same accrue and are payable. Payment from said
sums for said purposes shall be made by Bank at its discretion and may be made even though such payments will benefit subsequent owners of the Mortgaged Property. Said deposits shall not be, nor be deemed to be, trust funds, but may be, to the
extent permitted by applicable Law, commingled with the general funds of Bank, and no interest shall be payable in respect thereof. If said deposits are insufficient to pay the taxes and assessments, insurance premiums and other charges in full as
the same become payable, Borrower will deposit with Bank such additional sum or sums as may be required in order for Bank to pay such taxes and assessments, insurance premiums and other charges in full. Upon any Event of Default, Bank may, at its
option, apply any money in the fund relating from said deposits to the payment of the Obligations in such manner as it may elect. 
 7.6
Filing Fees and Taxes. Borrower covenants and agrees to pay all recording and filing fees, revenue stamps, taxes and other expenses and charges payable in connection with the execution and delivery to Bank of this Agreement and the other Loan
Documents, and the recording, filing, satisfaction, continuation and release of any financing statements or other instruments filed or recorded in connection herewith or therewith. 

7.7 Further Assurances. Borrower covenants and agrees that, at Borrower’s cost and expense, upon request of Bank, Borrower shall
duly execute and deliver, or cause to be duly executed and delivered, to Bank such further instruments and do and cause to be done such further acts as may be reasonably necessary or proper in the opinion of Bank or its counsel to carry out more
effectively the provisions and purposes of this Agreement. 
 7.8 Qualified ECP Keepwell. Borrower shall cause each Borrower Party
which is a Qualified ECP Guarantor to provide such funds or other support as may be 

  
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needed from time to time by each other Borrower Party to honor all of such Borrower Party’s obligations under its Guaranty in respect of Swap Obligations (provided, however, that each
Qualified ECP Guarantor shall only be liable under this Section for the maximum amount of such liability that can be hereby incurred without rendering its obligations under this Section or otherwise under its Guaranty hereunder, as it relates to
such other Borrower Party, voidable under applicable law relating to fraudulent conveyance or fraudulent transfer, and not for any greater amount). The obligations of each Qualified ECP Guarantor under this Section shall be the joint and several,
absolute, unconditional and irrevocable obligation of each Qualified ECP Guarantor, and shall remain in full force and effect until (i) payment in full of the Obligations (including termination of all transactions outstanding under any Bank
Swap Documents and payment in full of all amounts payable thereunder), and (ii) Bank is no longer obligated to extend credit to or for the benefit of Borrower under this Agreement. Each Qualified ECP Guarantor intends that this Section
constitute, and this Section shall be deemed to constitute, a “keepwell, support, or other agreement” for the benefit of each other Borrower Party for all purposes of Section 1a(18)(A)(v)(II) of the Commodity Exchange Act. 

ARTICLE VIII 
  

	8.	DEFAULT 

 8.1 Events of Default. The occurrence of any one or more of the following
events shall constitute an Event of Default hereunder: 
 (A) Borrower shall fail to pay (i) any installment of principal or interest
payable to Bank hereunder or under any other Loan Document within ten (10) days of the date the same becomes due, or (ii) any other amount payable to Bank hereunder or under any other Loan Document within ten (10) days of written
notice by Bank. 
 (B) Borrower Party shall fail to observe or perform any other obligation, condition or covenant to be observed or
performed by it hereunder or under any of the Loan Documents, and such failure shall continue for thirty (30) days (or such longer period up to ninety (90) days if such failure is not capable of being cured within thirty (30) days,
provided that Borrower Party has commenced and continues to diligently pursue cure of such failure) after: 
 (1) Notice of
such failure from Bank; or 
 (2) The date Borrower should have notified Bank pursuant to the provisions hereof or any other
Loan Document. 
 (C) At Bank’s election and upon ten (10) days’ prior written notice from Bank to Borrower, the occurrence
of any default or event of default by Borrower under any Ground Lease to which it is a party that is not cured within any applicable cure or grace period and/or the termination of any Ground Lease or any CHS Lease Guaranty. 

  
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 (D) Borrower shall fail to maintain the Debt Service Coverage Requirement and such failure shall
continue for ten (10) days after notice of such failure from Bank (provided that Borrower may prepay a portion of the Loan or deposit cash collateral with Bank during such ten-day period in order to cause the Debt Service Coverage Requirement
to be met (the amount of such cash collateral to be deducted from the principal amount of the Loan outstanding for purposes of computation of Debt Service Coverage, and Bank agrees to release all or a portion of such cash collateral upon request of
Borrowers, provided that at the time of the release there is not existing any Default and the Debt Service Coverage Requirement is satisfied after taking into account such release of such cash collateral). 

(E) The validity or enforceability of this Agreement or any Loan Document shall be contested by any Borrower Party, and/or any Borrower Party
shall deny that it has any or further liability or obligation hereunder or thereunder. 
 (F) The failure of Borrower or any member or
manager of Borrower to comply in all material respects with any covenants or agreements set forth in any Organizational Document of Borrower, including the covenants and agreements set forth in Section 9 of the Limited Liability Company
Agreement of each Borrower. 
 (G) Except as permitted herein, assignment or attempted assignment by Borrower of this Agreement, any rights
hereunder, or any Advance to be made hereunder. 
 (H) Except as otherwise permitted herein, the transfer of Borrower’s interest in, or
rights under, this Agreement by operation of law or otherwise, including, without limitation, such transfer by Borrower as debtor in possession under the Bankruptcy Code, or by a trustee for Borrower under the Bankruptcy Code, to any Third Party,
whether or not the obligations of Borrower under this Agreement are assumed by such Third Party. 
 (I) The institution of a foreclosure or
other possessory action against the Collateral or any part thereof. 
 (J) Substantial damage to, or partial or total destruction of, the
Improvements by fire or other casualty or the taking of any of the Mortgaged Property, temporarily or permanently, by eminent domain, and Borrower’s failure to restore, repair, replace, or rebuild the Improvements as and when required under the
terms of any Loan Document (unless attributable to Bank’s failure to comply with the release of casualty proceeds as provided in Section 7.3(C) hereof). 

(K) The dissolution of Borrower or any Change in Control. 

(L) Any financial statement, representation, warranty or certificate made or furnished by any Borrower Party to Bank in connection with this
Agreement, or as inducement to Bank to enter into this Agreement, or in any separate statement or document to be delivered hereunder to Bank, shall be materially false, incorrect, or incomplete when made. 

  
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 (M) Any Material Adverse Change which is not remedied within thirty (30) days after written
notice to Borrower thereof or, if the condition cannot be fully remedied within said thirty (30) days, substantial progress, in the opinion of Bank, has not been made within said thirty (30) days toward remedy of the condition. 

(N) Proceedings in Bankruptcy, or for reorganization of Borrower, or for the readjustment of any of its debts, under the Bankruptcy Code, as
amended, or any part thereof, or under any other Laws, whether state or federal, for the relief of debtors, now or hereafter existing, shall be commenced by Borrower, or shall be commenced against Borrower and shall not be discharged within sixty
(60) days of commencement. 
 (O) A receiver or trustee shall be appointed for Borrower or for any substantial part of its assets, or
any proceedings shall be instituted for the dissolution or the full or partial liquidation of Borrower, and such receiver or trustee shall not be discharged within thirty (30) days of his appointment, or such proceedings shall not be discharged
within sixty (60) days of its commencement, or Borrower shall discontinue business or materially change the nature of its business. 

(P) Borrower shall suffer final judgments for payment of money aggregating in excess of $50,000.00 and shall not discharge the same within a
period of thirty (30) days unless, pending further proceedings (including appeals), execution has not been commenced or if commenced has been effectively stayed. 

(Q) A judgment creditor of Borrower shall obtain possession of any of the Collateral by any means, including, without limitation, levy,
distraint, replevin or self-help. 
 (R) There shall occur any default, event of default or termination event under any Bank Swap Document
for which Borrower Party is a defaulting party or an affected party. 
 Provided that with respect to any of the foregoing, such Event of
Default will be deemed to have occurred upon the occurrence of such event Without Notice if Bank is prevented from giving notice by Bankruptcy or other applicable Law. 

8.2 No Advances After Default. Upon the occurrence and during the continuance of any Default, and notwithstanding any provision
contained herein or in any other Loan Document to the contrary, Bank shall have the absolute right to refuse to make, and shall be under no obligation to make, any further Advances. 

8.3 Acceleration. All Obligations shall, at the option of Bank, become immediately due and payable, Without Notice, upon the occurrence
of an Event of Default without further action of any kind. 
 8.4 General Remedies. Upon the occurrence of any Event of Default, Bank
shall have, in addition to the rights and remedies given it by this Agreement and the other Loan Documents, all those allowed by all applicable Laws as enacted in any Jurisdiction in which any Collateral may be located. Without limiting the
generality of the foregoing, 

  
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Bank may immediately, Without Notice, sell at public or private sale or otherwise realize upon, the whole or, from time to time, any part of the Collateral, or any interest which Borrower may
have therein. 
 8.5 Bank’s Additional Rights and Remedies. Upon the occurrence of any Event of Default and except as may
otherwise be prohibited or expressly provided for to the contrary under applicable Law, in addition to any rights or remedies Bank may otherwise have under this Agreement, any other Loan Documents, or under applicable Laws, Bank shall have the
right, Without Notice, to take any or all of the following actions at the same or different times: 
 (A) To cancel Bank’s obligations
arising under this Agreement; 
 (B) To institute appropriate proceedings to specifically enforce performance of the terms and conditions of
this Agreement; 
 (C) To appoint or seek appointment of a receiver, Without Notice and without regard to the solvency of Borrower or the
adequacy of the security, for the purpose of preserving the Collateral, preventing waste, and to protect all rights accruing to Bank by virtue of this Agreement and the other Loan Documents. All expenses incurred in connection with the appointment
of such receiver, or in protecting or preserving, shall be charged against Borrower and shall be secured by Bank’s Lien and enforced as a Lien against the Collateral; 

(D) To proceed to perform any and all of the duties and obligations and exercise all the rights and remedies of Borrower contained in the
Assigned Documents as fully as Borrower could itself; and 
 (E) To take possession of the Mortgaged Property and/or the Rents and have,
hold, manage, lease and operate the Mortgaged Property on such terms and for such period of time as Bank may in its discretion deem proper, and, either with or without taking possession of the Mortgaged Property in Bank’s own name: 

(1) Make any payment or perform any act which Borrower has failed to make or perform, in such manner and to such extent as Bank
may deem necessary to protect the security provided for in this Agreement, or otherwise, including without limitation, the right to appear in and defend any action or proceeding purporting to affect the security provided for in this Agreement, or
the rights or powers of Bank; 
 (2) Lease the Mortgaged Property or any portion thereof in such manner and for such Rents as
Bank shall determine in its discretion; or 
 (3) Demand, sue for, or otherwise collect and receive from all Persons all
Rents, including those past due and unpaid, with full power to make from time to time all alterations, renovations, repairs or replacements of and to the Mortgaged Property (or any part thereof) as may seem proper to Bank and to apply the Rents to
the payment of (in such order of priority as Bank, in its discretion, may determine): 
 (a) All expenses of managing the
Mortgaged Property, including, without limitation, the salaries, fees and wages of a managing agent and such other employees as Bank may deem necessary or desirable; 

  
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 (b) All taxes, charges, claims, assessments, water rents, sewer rents, and any
other liens, and premiums for all insurance which Bank may deem necessary or desirable, and the cost of all alterations, renovations, repairs, or replacements, and all expenses incidental to taking and retaining possession of the Mortgaged Property;

 (c) All or any portion of the Loan; and/or 

(d) All costs and Attorneys’ Fees incurred in connection therewith. 

In connection with the foregoing, Borrower hereby authorizes and directs each party to any Assigned Document (other than Borrower), upon receipt from Bank of
written notice to the effect that an Event of Default exists, to perform all of its obligations under the Assigned Document as directed by Bank, and to continue to do as so directed until otherwise notified by Bank. 

8.6 Right of Set-Off. Upon the occurrence of any Event of Default, Bank may, and is hereby authorized by Borrower, at any time and from
time to time, to the fullest extent permitted by applicable Laws, and Without Notice to Borrower, set-off and apply any and all deposits (general or special, time or demand, provisional or final) at any time held and any other indebtedness at any
time owing by Bank to, or for the credit or the account of, Borrower against any or all of the Obligations of Borrower now or hereafter existing whether or not such Obligations have matured and irrespective of whether Bank has exercised any other
rights that it has or may have with respect to such Obligations, including without limitation any acceleration rights. The aforesaid right of set-off may be exercised by Bank against Borrower or against any trustee in bankruptcy, debtor in
possession, assignee for the benefit of the creditors, receiver, or execution, judgment or attachment creditor of Borrower, or such trustee in bankruptcy, debtor in possession, assignee for the benefit of creditors, receiver, or execution, judgment
or attachment creditor, notwithstanding the fact that such right of set-off shall not have been exercised by Bank prior to the making, filing or issuance, or service upon Bank of, or of notice of, any such petition; assignment for the benefit of
creditors; appointment or application for the appointment of a receiver; or issuance of execution, subpoena, order or warrant. Bank agrees to promptly notify Borrower after any such set-off and application, provided that the failure to give such
notice shall not affect the validity of such set-off and application. The rights of Bank under this Section are in addition to the other rights and remedies (including, without limitation, other rights of set-off) which Bank may have. 

  
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 8.7 No Limitation on Rights and Remedies. The enumeration of the powers, rights and
remedies in this Article shall not be construed to limit the exercise thereof to such time as an Event of Default occurs if, under applicable Law or any other provision of this Agreement or any other Loan Document, Bank has any of such powers,
rights and remedies regardless of whether an Event of Default has occurred, and any limitation contained herein or in any of the other Loan Documents as to Bank’s exercise of any power, right or remedy for a period of time only during the
continuance of an Event of Default shall only be applicable at such time as Bank shall have actual knowledge that such Event of Default is no longer continuing and for a reasonable time thereafter as may be necessary for Bank to cease the exercise
of such powers, rights and remedies (it being expressly understood and agreed that until such time as Bank shall obtain such knowledge and after the expiration of such reasonable time, Bank shall have no liability whatsoever for the commencement of
or continuing exercise of any such power, right or remedy). 
 8.8 Application of Proceeds. Except as otherwise expressly required to
the contrary by applicable Law, the provisions hereof or any other Loan Document, the net cash proceeds resulting from the exercise of any of the rights and remedies of Bank under this Agreement, after deducting all charges, expenses, costs and
Attorneys’ Fees relating thereto, shall be applied by Bank to the payment of the Obligations, whether due or to become due, in such order and in such proportions as Bank may elect; and Borrower shall remain liable to Bank for any deficiency ;
provided, however, that no proceeds realized from any Guaranty or Collateral of a Borrower Party who is not a Qualified ECP Guarantor shall be applied to the payment of Swap Obligations that constitute Obligations. 

ARTICLE IX 
  

	9.	MISCELLANEOUS. 

 9.1 Termination of Bank’s Lien. This Agreement and Bank’s Lien
will not be terminated until one of Bank’s officers signs a written termination or satisfaction agreement to such effect. Even if Borrower should pay all of the Obligations owing to Bank at any one time, Bank’s Lien will continue to secure
any sum Borrower should later owe Bank until the written termination or satisfaction agreement referred to above has been executed by Bank (provided that Bank agrees to promptly provide a written termination or satisfaction agreement upon request of
Borrower, provided that the Obligations have been paid in full, Bank has no obligation to make any further Advances or otherwise extend any credit to Borrower under the Loan Documents, and there is not existing any Default). Except as otherwise
expressly provided for in this Agreement, no termination of this Agreement shall in any way affect or impair the representations, warranties, agreements, covenants, obligations, duties and Obligations of Borrower or the powers, rights, and remedies
of Bank under this Agreement with respect to any transaction or event occurring prior to such termination, all of which shall survive such termination. In no event shall Bank be obligated to terminate Bank’s Lien or return or release the
Collateral or any portion thereof to Borrower (a) until payment in full of the Obligations, or (b) if Bank is obligated to extend credit to Borrower. 

  
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 9.2 Construction. The provisions of this Agreement shall be in addition to those of any
other Loan Document and any guaranty, pledge or security agreement, mortgage, deed of trust, security deed, note or other evidence of liability given by any Borrower Party to or for the benefit of any Bank Party with respect to the Loan, all of
which shall be construed as complementary to each other, and all existing liabilities and obligations of any Borrower Party to any Bank Party with respect to the Loan and any Liens heretofore granted to or for the benefit of any Bank Party with
respect to the Loan shall, except and only to the extent expressly provided herein to the contrary, remain in full force and effect, and shall not be released, impaired, diminished, or in any other way modified or amended as a result of the
execution and delivery of this Agreement or any other Loan Document or by the agreements and undertaking of any Borrower Party contained herein and therein. Nothing herein contained shall prevent any Bank Party from enforcing any or all other notes,
guaranties, pledges or security agreements, mortgages, deeds of trust, or security deeds in accordance with their respective terms. In the event of a conflict between any of the provisions of this Agreement or any of the other Loan Documents, the
terms and provisions of this Agreement shall control. There are no third party beneficiaries to this Agreement or any other Loan Document. 

9.3 Indemnity. Borrower hereby agrees to indemnify Bank Parties and their respective officers, directors, agents, and attorneys
against, and to hold Bank Parties and all such other Persons harmless from all Default Costs, which indemnification is in addition to, and not in derogation of, any statutory, equitable, or common law right or remedy Bank Parties may have for breach
of representation, warranty, statement or covenant or otherwise may have under any of the Loan Documents. This agreement of indemnity shall be a continuing agreement and shall survive payment of the Loan and termination of this Agreement. 

9.4 Bank’s Consent or Approval. 

(A) Except where otherwise expressly provided in the Loan Documents, in any instance where any matter or thing is required to be
“satisfactory” to Bank or to Bank’s “satisfaction”, or in Bank’s “discretion” and/or where the approval, consent, or the exercise of Bank’s judgment or discretion is otherwise required or permitted, the
granting or denial of such approval or consent and the exercise of such judgment or discretion shall be (a) within the sole and absolute discretion of Bank; and (b) deemed to have been given only by a specific writing intended for the
purpose given and executed by Bank. 
 (B) Notwithstanding any approvals or consents by Bank, Bank has no obligation or responsibility
whatsoever for the adequacy, form or content of any contract, any lease, or any other matter incident to any Project. Any inspection or audit of any Project or the Records of Borrower, or the procuring of documents and financial and other
information, by or on behalf of Bank shall be for Bank’s protection only, and shall not constitute any assumption of responsibility to Borrower or anyone else with regard to the condition, maintenance or operation of any Project, or relieve
Borrower of any of Borrower’s obligations. Bank has no duty to supervise or to inspect any Project nor any duty of care to Borrower or any other Person to protect against, or inform Borrower or any other Person of, the existence of negligent,
faulty, inadequate or defective design or construction of any Project. 

  
 58 

 9.5 Enforcement and Waiver by Bank. Bank shall have the right at all times to enforce the
provisions of this Agreement and each of the other Loan Documents in strict accordance with the terms hereof and thereof, notwithstanding any conduct or custom on the part of Bank in refraining from so doing at any time or times. The failure of Bank
at any time or times to enforce its rights under such provisions, strictly in accordance with the same, shall not be construed as having created a custom in any way or manner contrary to specific provisions of this Agreement or as having in any way
or manner modified or waived the same. All rights and remedies of Bank are cumulative and concurrent and the exercise of one right or remedy shall not be deemed a waiver or release of any other right or remedy. 

9.6 Expenses of Bank. Borrower will, on demand, reimburse Bank for all expenses incurred by Bank in connection with the preparation,
administration, amendment, modification or enforcement of this Agreement and the other Loan Documents and/or in the collection of any amounts owing from Borrower or any other Person to Bank under this Agreement or any other Loan Document and, until
so paid, the amount of such expenses shall be added to and become part of the Obligations. 
 9.7 Attorneys’ Fees. If at any
time or times hereafter Bank employs counsel to advise or provide other representation with respect to this Agreement, any Loan Document, or any other agreement, document or instrument heretofore, now or hereafter executed by any Borrower Party and
delivered to Bank with respect to the Obligations, or to commence, defend or intervene, file a petition, complaint, answer, motion or other pleadings or to take any other action in or with respect to any suit or proceeding relating to this
Agreement, any Loan Document, or any other agreement, instrument or document heretofore, now or hereafter executed by any Borrower Party and delivered to Bank with respect to the Obligations, or to represent Bank in any litigation with respect to
the affairs of any Borrower Party, or to enforce any rights of Bank or obligations of any Borrower Party or any other Person which may be obligated to Bank by virtue of this Agreement, any Loan Document, or any other agreement, document or
instrument heretofore, now or hereafter delivered to Bank by or for the benefit of Borrower with respect to the Obligations, or to collect from Borrower any amounts owing hereunder, then in any such event, all of the Attorneys’ Fees incurred by
Bank arising from such services and any expenses, costs and charges relating thereto shall constitute additional obligations of Borrower payable on demand and, until so paid, shall be added to and become part of the Obligations. 

9.8 Exclusiveness. This Agreement and the other Loan Documents are made for the sole protection of Borrower Parties and Bank, and
Bank’s successors and assigns, and no other Person shall have any right of action hereunder. 

  
 59 

 9.9 Notices. Any notices or consents required or permitted by this Agreement shall be in
writing and shall be deemed delivered if delivered in person or if sent by certified mail, postage prepaid, return receipt requested, or by nationally-recognized overnight courier service (such as Federal Express), as follows, unless such address is
changed by written notice hereunder: 
  

					
	(A)	 	If to Borrowers:
		
		 	CHP Calvert MOB Owner, LLC
		 	c/o CNL Healthcare Properties, Inc.
		 	450 South Orange Avenue
		 	Orlando, Florida 32801
		 	Attention:	 	Joseph T. Johnson, CFO and SVP and
		 		 	Holly J. Greer, General Counsel and SVP
		
		 	CHP Medical Arts MOB Owner, LLC
		 	c/o CNL Healthcare Properties, Inc.
		 	450 South Orange Avenue
		 	Orlando, Florida 32801
		 	Attention:	 	Joseph T. Johnson, CFO and SVP and
		 		 	Holly J. Greer, General Counsel and SVP
		
		 	CHP Dunkirk MOB Owner, LLC
		 	c/o CNL Healthcare Properties, Inc.
		 	450 South Orange Avenue
		 	Orlando, Florida 32801
		 	Attention:	 	Joseph T. Johnson, CFO and SVP and
		 		 	Holly J. Greer, General Counsel and SVP
		
		 	CHP Solomons Island MOB Owner, LLC
		 	c/o CNL Healthcare Properties, Inc.
		 	450 South Orange Avenue
		 	Orlando, Florida 32801
		 	Attention:	 	Joseph T. Johnson, CFO and SVP and
		 		 	Holly J. Greer, General Counsel and SVP
		
		 	with copy to:
		
		 	Peter L. Lopez, Esq.
		 	Lowndes, Drosdick, Doster, Kantor & Reed, P.A.
		 	215 North Eola Drive
		 	Orlando, Florida 32801
		
	(B)	 	If to Bank:
		
		 	Regions Bank
		 	1900 5th Avenue North
		 	Regions Center, 14th Floor
		 	Birmingham, Alabama 35203
		 	Attention: Healthcare Banking Group

  
 60 

					
		 	with a copy to:
		
		 	Ray D. Gibbons, Esq.
		 	Gibbons Graham LLC
		 	100 Corporate Parkway, Suite 125
		 	Birmingham, Alabama 35242

 9.10 Waiver and Release by Borrower. Unless and only to the extent as may be expressly limited or
prohibited under applicable Laws or as provided for herein or in any other Loan Document to the contrary, Borrower (A) waives protest of all commercial paper at any time held by Bank on which Borrower is any way liable; (B) waives notice
of acceleration and of intention to accelerate; (C) waives notice and opportunity to be heard, after acceleration, before exercise by Bank of the remedies of self-help, set-off, or of other summary procedures permitted by any applicable Laws or
by any agreement with Borrower, and except where required hereby or by any applicable Laws which requirement cannot be waived, notice of any other action taken by Bank; and (D) releases Bank Parties and their respective officers, attorneys,
agents and employees from all claims for loss or damage caused by any act or omission on the part of any of them except willful misconduct. 

9.11 Limitation on Waiver of Notice, Etc. Notwithstanding any provision of this Agreement to the contrary, to the extent that any
applicable Law expressly limits any waiver of any right contained herein or in any other Loan Document (including any waiver of any notice or other demand), such waiver shall be ineffective to such extent. 

9.12 Participation. Notwithstanding any other provision of this Agreement, Borrower understands and agrees that Bank may enter into
participation or other agreements with Participants whereby Bank will allocate certain percentages of its commitment to them and/or assign all or a portion of its rights and obligations under this Agreement. Borrower acknowledges and agrees that,
for the convenience of all parties, this Agreement is being entered into with Bank only and that its obligations under this Agreement are undertaken for the benefit of, and as an inducement to each such Participant as well as Bank, and Borrower
hereby agrees that, at Bank’s election and if consistent with the terms of any such participation or other agreement, upon notice from Bank to Borrower, each such Participant shall have the same rights and/or obligations as if it were an
original party to this Agreement, subject only to any contrary provision in such participation or other agreement, and Borrower hereby grants to each such Participant, the right to set off deposit accounts maintained by Borrower with such
Participant. Borrower authorizes Bank to disclose financial and other information regarding Borrower to Participants and potential Participants. 

9.13 Governing Law. This Agreement is entered into and performable in Jefferson County, Alabama, and the substantive Laws, without
giving effect to principles of conflict of laws, of the United States and the State of Alabama shall govern the construction of this Agreement and the documents executed and delivered pursuant hereto, and the rights and remedies of the parties
hereto and thereto, except to the extent that the location of any Collateral in a state or Jurisdiction other than Alabama requires 

  
 61 

 
that the perfection of Bank’s Lien under the Loan Documents, and the enforcement of certain of Bank’s remedies with respect to the Collateral, be governed by the Laws of such other
state or Jurisdiction. 
 9.14 SUBMISSION TO JURISDICTION; WAIVERS. 

(A) BORROWER HEREBY IRREVOCABLY AND UNCONDITIONALLY: 

(1) SUBMITS FOR ITSELF AND ITS PROPERTY IN ANY LEGAL ACTION OR PROCEEDING RELATING TO THIS AGREEMENT, OR FOR RECOGNITION AND
ENFORCEMENT OF ANY JUDGMENT IN RESPECT THEREOF, TO THE NON-EXCLUSIVE GENERAL JURISDICTION OF THE COURTS OF THE STATE OF ALABAMA, THE COURTS OF THE UNITED STATES OF AMERICA FOR THE NORTHERN DISTRICT OF ALABAMA, AND APPELLATE COURTS FROM ANY THEREOF;

 (2) CONSENTS THAT ANY SUCH ACTION OR PROCEEDING MAY BE BROUGHT IN SUCH COURTS, AND WAIVES ANY OBJECTION THAT IT MAY NOW OR
HEREAFTER HAVE TO THE VENUE OF ANY SUCH ACTION OR PROCEEDING IN ANY SUCH COURT OR THAT SUCH ACTION OR PROCEEDING WAS BROUGHT IN AN INCONVENIENT COURT AND AGREES NOT TO PLEAD OR CLAIM THE SAME; 

(3) AGREES THAT SERVICE OF PROCESS IN ANY SUCH ACTION OR PROCEEDING MAY BE EFFECTED BY MAILING A COPY THEREOF BY REGISTERED OR
CERTIFIED MAIL (OR ANY SUBSTANTIALLY SIMILAR FORM OF MAIL), POSTAGE PREPAID, TO BORROWER AT ITS ADDRESS SET FORTH IN SECTION 9.9 OR AT SUCH OTHER ADDRESS OF WHICH BANK SHALL HAVE BEEN NOTIFIED PURSUANT THERETO; AND 

(4) AGREES THAT NOTHING HEREIN SHALL AFFECT THE RIGHT TO EFFECT SERVICE OF PROCESS IN ANY OTHER MANNER PERMITTED BY LAW OR
SHALL LIMIT THE RIGHT TO SUE IN ANY OTHER JURISDICTION. 
 (B) BORROWER AND BANK HEREBY: 

(1) IRREVOCABLY AND UNCONDITIONALLY WAIVE THE RIGHT TO A TRIAL BY JURY IN ANY ACTION OR PROCEEDING OR COUNTERCLAIM OF ANY TYPE
AS TO ANY MATTER ARISING DIRECTLY OR INDIRECTLY OUT OF OR WITH RESPECT TO THIS AGREEMENT, THE NOTE, ANY OF THE OTHER LOAN DOCUMENTS OR ANY OTHER DOCUMENT EXECUTED IN CONNECTION HEREWITH OR THEREWITH; AND 

  
 62 

 (2) AGREE THAT ANY OF THEM MAY FILE A COPY OF THIS AGREEMENT WITH ANY COURT AS
WRITTEN EVIDENCE OF THE KNOWING, VOLUNTARY AND BARGAINED FOR AGREEMENT BETWEEN THE PARTIES IRREVOCABLY TO WAIVE TRIAL BY JURY, AND THAT ANY DISPUTE OR CONTROVERSY OF ANY KIND WHATSOEVER BETWEEN THEM SHALL INSTEAD BE TRIED IN A COURT OF COMPETENT
JURISDICTION BY A JUDGE SITTING WITHOUT A JURY. 
 9.15 Binding Effect, Assignment. This Agreement shall inure to the benefit of, and
shall be binding upon, the respective successors and permitted assigns of the parties hereto. Borrower does not have any right to assign any of its rights or obligations hereunder without the prior written consent of Bank. 

9.16 Entire Agreement, Amendments. This Agreement, including the Exhibit hereto, which is hereby incorporated herein by reference, and
the documents executed and delivered pursuant hereto, constitute the entire agreement between the parties, and which may be amended only by a writing signed on behalf of each party. 

9.17 Severability. If any provision of this Agreement, the Note, or any of the other Loan Documents shall be held invalid under any
applicable Laws, such invalidity shall not affect any other provision of this Agreement or such other instrument or agreement that can be given effect without the invalid provision, and, to this end, the provisions hereof are severable. 

9.18 Headings. The section and paragraph headings hereof are inserted for convenience of reference only, and shall not alter, define,
or be used in construing the text of such sections and paragraphs. 
 9.19 Counterparts. This Agreement may be executed in any number
of counterparts, each of which shall be deemed to be an original, but all of which together shall constitute but one and the same instrument. 

9.20 Seal. This Agreement is intended to take effect as an instrument under seal. 

* * * * * 

  
 63 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the
date first set forth above. 
  

			
	 CHP CALVERT MOB OWNER, LLC,
 a
Delaware limited liability company

		
	By:	 	 /s/ Joshua J. Taube

		 	Joshua J. Taube, Vice President
	
	CHP MEDICAL ARTS MOB OWNER, LLC, a Delaware limited liability company
		
	By:	 	 /s/ Joshua J. Taube

		 	Joshua J. Taube, Vice President
	
	 CHP DUNKIRK MOB OWNER, LLC,
 a
Delaware limited liability company

		
	By:	 	 /s/ Joshua J. Taube

		 	Joshua J. Taube, Vice President
	
	 CHP SOLOMONS ISLAND MOB OWNER, LLC,

a Delaware limited liability company

		
	By:	 	 /s/ Joshua J. Taube

		 	Joshua J. Taube, Vice President
	
	 REGIONS BANK,
 an Alabama banking
corporation

		
	By:	 	 /s/ Eric Smith

	Name:	 	Eric Smith
	Title:	 	Senior Vice President

  
 64 

 EXHIBIT A 

CHS LEASE GUARANTIES 

[Intentionally Omitted] 

SCHEDULE 7.3 

INSURANCE REQUIREMENTS 

[Intentionally Omitted]EX-10.8

 Exhibit 10.8 

This instrument prepared by: 
 Ray D. Gibbons, Esq. 

Gibbons Graham LLC 
 100 Corporate Parkway 

Suite 125 
 Birmingham, Alabama 35242 

LEASEHOLD DEED OF TRUST / DEED OF TRUST AND SECURITY AGREEMENT 

(PURCHASE MONEY) 
 THIS
LEASEHOLD DEED OF TRUST / DEED OF TRUST AND SECURITY AGREEMENT (this “Deed of Trust”) is made and entered into as of August 30, 2013, by CHP CALVERT MOB OWNER, LLC, a Delaware limited liability company (“Calvert
Borrower”), CHP MEDICAL ARTS MOB OWNER, LLC, a Delaware limited liability company (“Medical Arts Center Borrower”), and CHP DUNKIRK MOB OWNER, LLC, a Delaware limited liability company (“Dunkirk Borrower”), all
of whose address is c/o CNL Healthcare Properties, Inc., 450 South Orange Avenue, Orlando, Florida 32861, Attention: Joseph T. Johnson and Holly J. Greer (Calvert Borrower, Medical Arts Center Borrower and Dunkirk Borrower hereinafter referred to
collectively as the “Mortgagors” and each singularly as a “Mortgagor”), in favor of ERIC SMITH, said term referring always to the named Trustee and his/her successors in trust, whose address is c/o Regions Bank, 1900 5th Avenue North, Regions Center, 14th Floor, Birmingham, Alabama 35203, as Trustee (the “Trustee”), for the benefit of REGIONS
BANK, an Alabama banking corporation, whose address is 1900 5th Avenue North, Regions Center, 14th Floor, Birmingham, Alabama 35203,
Attention: Healthcare Banking Group (the “Bank”). Any capitalized term used herein but not defined shall have the meaning ascribed to such term in that certain Credit Agreement of even date herewith among Mortgagors, CHP Solomons Island
MOB Owner, LLC (“Solomons Island Borrower”, and together with the Mortgagors, hereinafter referred to collectively as the “Borrowers” and each singularly as a “Borrower”) and Bank (as amended from time to time, the
“Credit Agreement”). 
 W I T N E S S E T H: 

WHEREAS, Borrowers are justly indebted to Bank in the principal amount of Twenty-Nine Million Four Hundred Thousand and No/100 Dollars
($29,400,000.00), all of which amount is purchase money, such indebtedness being evidenced by the Note, and payable to Bank with interest thereon as provided for in the Credit Agreement; and 

WHEREAS, Mortgagors desire to secure the Obligations, including, but not limited to, the obligations to pay the principal of and
interest on the Note in accordance with the respective terms thereof or of the Credit Agreement, including any and all extensions, modifications, and renewals thereof and substitutions therefor, and to pay, repay or reimburse Bank for all amounts
owing under any of the Loan Documents, including all Indemnified Losses and Default Costs. 
 NOW, THEREFORE, for and
in consideration of Bank making the Loan and to secure the prompt payment and performance of the Obligations, each Mortgagor does hereby irrevocably CONVEY, MORTGAGE, WARRANT, GRANT, BARGAIN, SELL, ASSIGN,

 
TRANSFER, PLEDGE and set over to the Trustee, in trust, for the benefit of Bank, and the successors and assigns of Bank, all of such Mortgagor’s right, title and interest of whatever kind,
nature or description, whether now owned or hereafter acquired, and wherever located (hereinafter referred to as such “Mortgagor’s Interest”) in and to the following described land and interests in land, estates, easements, rights,
improvements, personal property, fixtures, equipment, furniture, furnishings, appliances and appurtenances, whether now owned or hereafter acquired, and including replacements and additions thereto (herein referred to collectively as the
“Mortgaged Property”): 
 (a) All of those certain tracts, pieces or parcels of land, and interests in land, located in Calvert
County, Maryland, more particularly described in Exhibits A-1 through A-3 attached hereto and by this reference made a part hereof (the “Land”); 

(b) All buildings, structures and improvements of every nature whatsoever now or hereafter situated on the Land, and all gas and electric
fixtures, radiators, heaters, engines and machinery, boilers, ranges, elevators and motors, plumbing and heating fixtures, carpeting and other floor coverings, water heaters, awnings and storm sashes, and cleaning apparatus which are or shall be
attached to said buildings, structures or improvements, and all other furnishings, furniture, fixtures, machinery, equipment, appliances, vehicles and personal property of every kind and nature whatsoever now or hereafter owned by any Mortgagor and
located in, on or about, or used or intended to be used with or in connection with the construction, use, operation or enjoyment of the Mortgaged Property, including all extensions, additions, improvements, betterments, renewals and replacements,
substitutions, or proceeds from a permitted sale of any of the foregoing, and all building materials and supplies of every kind now or hereafter placed or located on the Land (collectively the “Improvements”), all of which are hereby
declared and shall be deemed to be fixtures and accessions to the Land and a part of the Mortgaged Property as between the parties hereto and all Persons claiming by, through or under them, and which shall be deemed to be a portion of the security
for the indebtedness herein described and to be secured by this Deed of Trust; 
 (c) All easements, rights of way, strips and gores of
land, vaults, streets, ways, alleys, passages, sewer rights, waters, water courses, water rights and powers, minerals, flowers, shrubs, crops, trees, timber and other emblements now or hereafter located on the Land or under or above the same or any
part or parcel thereof, and all ground leases, estates, rights, titles, interests, privileges, liberties, tenements, hereditaments and appurtenances, reversions, and remainders whatsoever, in any way belonging, relating or appertaining to the
Mortgaged Property or any part thereof, or that hereafter shall in any way belong, relate or be appurtenant thereto, whether now owned or hereafter acquired by any Mortgagor; 

(d) All rents, issues, profits, revenues and proceeds from any sale or other disposition of the Mortgaged Property, or any part thereof, from
time to time accruing (including without limitation all payments under leases, ground leases or tenancies, proceeds of insurance, condemnation payments, tenant security deposits and escrow funds), and all of the estate, right, title, interest,
property, possession, claim and demand whatsoever at law, as well as in equity, of any Mortgagor of, in and to the same; 

  
 2 

 (e) All leases (whether presently existing or hereafter made, whether written or verbal, and
including any agreement for the letting of or for the use or occupancy of any part of the Mortgaged Property (collectively, the “Assigned Leases”), including each modification, extension, renewal and guaranty thereof), rents, issues,
profits, revenues and proceeds from any sale, lease or other disposition of the Mortgaged Property, or any part thereof, from time to time accruing (including without limitation all payments under leases, ground leases or tenancies, proceeds of
insurance, condemnation payments, tenant security deposits and escrow funds, and all claims and rights to the payment of money at any time arising in connection with any rejection or breach of any lease under Bankruptcy Law, including, without
limitation, all the rents, issues, and profits now due and which may hereafter become due under or by virtue of the Assigned Leases (collectively, the “Rents”), together with all claims and rights to the payment of money at any time
arising in connection with any rejection or breach of any of the Assigned Leases under Bankruptcy Law, including without limitation, all rights to recover damages arising out of such breach or rejection, all rights to charges payable by a tenant or
trustee in respect of the leased premises following the entry of an order for relief under the Bankruptcy Law in respect of a tenant and all rentals and charges outstanding under the Assigned Lease as of the date of entry of such order for relief,
and all of the estate, right, title, interest, property, possession, claim and demand whatsoever at law, as well as in equity, of any Mortgagor of, in and to the same; 

(f) Calvert Borrower’s leasehold estate and other interests of whatever kind, nature or description, and all rights, title and interest
pertaining thereto, if any, under that certain Amended, Restated and Consolidated Ground Lease dated as of August 30, 2013 between Calvert Memorial Hospital of Calvert County (as landlord), and Calvert Borrower (as tenant) (as amended from time
to time, the “Calvert Ground Lease”); 
 (g) Dunkirk Borrower’s leasehold estate and other interests of whatever kind, nature
or description, and all rights, title and interest pertaining thereto, if any, under that certain Ground Lease Agreement dated as of August 30, 2013 between CMH II Holding Co. (as landlord), and Dunkirk Borrower (as tenant) (as amended from
time to time, the “Dunkirk Ground Lease”); 
 (h) Medical Arts Center Borrower’s leasehold estate and other interests of
whatever kind, nature or description, and all rights, title and interest pertaining thereto, if any, under that certain Amended and Restated Ground Lease Agreement dated as of August 30, 2013 between Calvert Memorial Hospital of Calvert County
(as landlord) and Medical Arts Center Borrower (as tenant) (as amended from time to time, the “Medical Arts Center Ground Lease”, and together with the Calvert Ground Lease and the Dunkirk Ground Lease, hereinafter referred to collectively
as the “Ground Leases” and each singularly as a “Ground Lease”); and 
 (i) All of the estate, right, title, interest,
property, possession, claim and demand whatsoever at law, as well as in equity, of each Mortgagor of, in and to any of the foregoing. 

TO HAVE AND TO HOLD the Mortgaged Property and all parts, rights, members and appurtenances thereof, to the use and benefit of Trustee,
in trust, for the benefit of Bank and the successors and assigns of Bank; and each Mortgagor covenants that such Mortgagor is lawfully 

  
 3 

 
seized and possessed of such Mortgagor’s Interest in the Mortgaged Property as aforesaid and has good right to convey the same, that the same are unencumbered except for those matters
expressly set forth in Exhibits A-1 through A-3 hereto, and each Mortgagor does warrant and will forever defend the title thereto against the claims of all Persons whomsoever, except as to those matters set forth in said
Exhibits A-1 through A-3. 
 The Lien of this Deed of Trust automatically will attach to any further, greater,
additional or different estate, rights, titles or interests in or to any of the Mortgaged Property at any time hereafter acquired by any Mortgagor by whatsoever means and without any further action or filing or recording on the part of any Mortgagor
or Bank or any other Person. 
 But this conveyance is made IN TRUST, with power of sale, to secure the Obligations in accordance with the
terms of the Loan Documents, including any and all renewals, extensions and modifications thereof. 
 PROVIDED, HOWEVER, that should the
Obligations be paid according to the tenor and effect thereof, and should Borrowers have performed all covenants contained in the Loan Documents and Bank shall not be obligated to extend further credit to Borrowers, then this Deed of Trust shall be
canceled and released of record. 
 It is understood and agreed that with respect to the representations, warranties and covenants contained
in this Deed of Trust, (i) such representations, warranties and covenants are made by each Mortgagor with respect to itself and not with respect to any other Mortgagor, and (ii) any representations, warranties or covenants as to any
particular Mortgaged Property are made by the Mortgagor who is the owner of the applicable Mortgaged Property. 
 MORTGAGORS HEREBY
COVENANT AND AGREE WITH BANK AS FOLLOWS: 
 ARTICLE I 

1.01 Payment and Performance of Loan Documents. Mortgagors will perform, observe and comply with all the provisions hereof, and
of each of the other Loan Documents, including, but not limited to, the due and punctual payment by Mortgagors of the principal amount due under the Note, together with interest thereon, and all other sums of money required to be paid by Mortgagors
pursuant to any one or more of the Loan Documents, without any deductions, credits or set offs whatsoever. 
 1.02 Ground
Lease. 
 (a) Each Mortgagor shall promptly: 

(1) Perform, observe and comply with all of the obligations, covenants and agreements required to be performed, observed and
complied with by the lessee under the Ground Lease to which such Mortgagor is a party, and do all things necessary to preserve and to keep unimpaired its rights thereunder; 

  
 4 

 (2) Notify Bank of any material default in the performance or observance of any
of the covenants or agreements on the part of such Mortgagor to be performed or observed by such Mortgagor under the Ground Lease to which such Mortgagor is a party, or the giving of any notice by the lessor under such Ground Lease to such Mortgagor
(A) claiming such a default, or (B) of such lessor’s intention to exercise any remedy reserved to the lessor thereunder; and 

(3) Cause a copy of each such notice given by such lessor to such Mortgagor to be delivered to Bank. 

(b) In addition to any insurance required pursuant to this Deed of Trust or any other Loan Document, each Mortgagor will take out and
continuously maintain in effect, or cause to be taken out and thereafter continuously maintained in effect, the insurance required to be maintained by the lessee under the Ground Lease to which such Mortgagor is a party. All such insurance policies
shall name as additional insured Bank as its interest shall appear. All certificates evidencing the insurance so required to be carried by the Ground Leases and this Deed of Trust shall be deposited with Bank. Prior to the expiration or cancellation
of any such policy, Mortgagors will furnish to Bank evidence satisfactory to Bank that such policy has been renewed or replaced by another policy. 
 Each
Mortgagor covenants, represents and warrants to Bank that so long as this Deed of Trust remains unsatisfied, it will comply with all the obligations required on its part to be performed under the Ground Lease to which such Mortgagor is a party. In
the event that any Mortgagor fails or refuses to perform any of its obligations under the Ground Lease to which such Mortgagor is a party following the expiration of any applicable grace or cure period, Bank may, but shall not be obligated to,
perform any and all such obligations of such Mortgagor under such Ground Lease, including, but not limited to, the payment of any or all rent and other sums due from such Mortgagor thereunder. Any costs or expenses incurred by Bank in performing the
obligations of any Mortgagor under the Ground Lease to which such Mortgagor is a party, including any rent or other sums paid by Bank, shall constitute part of the Obligations and shall be secured hereby. 

(c) If any Mortgagor shall fail to perform, observe or comply with any of the obligations, covenants or agreements required to be performed,
observed or complied with by it under the Ground Lease to which such Mortgagor is a party following the expiration of any applicable grace or cure period, including, without limitation, payment of all ground rent and other charges due thereunder,
Bank, after five (5) days’ written notice (except in emergencies or in situations where a failure sooner to perform or observe the same may result in a forfeiture under such Ground Lease) may, but shall not be obligated to, take such
action as is appropriate to cause such covenants, agreements or obligations promptly to be performed, observed or complied with on behalf of such Mortgagor, including, but not limited to, the payment of any or all rent and other sums due from such
Mortgagor thereunder, but no action so taken by Bank shall release any Mortgagor from any of its obligations under this Deed of Trust. Upon receipt by Bank from the lessor under any Ground Lease of any notice of default by the applicable Mortgagor
thereunder that has not been cured within any applicable grace or cure period, Bank may rely thereon and take any such action as aforesaid to cure such default even though the existence of such default or the nature thereof may be questioned or
denied by such Mortgagor or 

  
 5 

 
by any party on behalf of such Mortgagor. Any costs or expenses incurred by Bank in taking any action as provided for in this paragraph, including any rent or other sums paid by Bank, shall
constitute part of the Obligations and shall be secured hereby. 
 (d) No Mortgagor shall surrender its leasehold estate under the Ground
Lease to which such Mortgagor is a party, nor terminate or cancel the Ground Lease to which such Mortgagor is a party, and Mortgagor shall not modify, change, supplement, alter or amend in any material respect the Ground Lease to which such
Mortgagor is a party, either orally or in writing, and any attempt on the part of any Mortgagor to exercise any such right without the consent of Bank shall be null and void. 

(e) The fee title to the properties demised by each Ground Lease and the leasehold estate shall not merge, but always shall remain separate
and distinct, notwithstanding the union of such estates either in the lessor or in the lessee under such Ground Lease or in a third party by purchase or otherwise. 

(f) Each Mortgagor shall give Bank prompt notice of the commencement of any arbitration or appraisal proceeding pursuant to the Ground Lease
to which such Mortgagor is a party. Bank shall have the right to intervene and participate in any such proceeding and each Mortgagor shall confer with Bank and its attorneys and experts and cooperate with them to the extent Bank deems reasonably
necessary for the protection of Bank. Upon the request of Bank, each Mortgagor shall exercise all rights of arbitration or appraisal conferred upon it by the Ground Lease to which such Mortgagor is a party. If at the time any such proceeding shall
be commenced, any Mortgagor shall be in default in the performance or observance of any covenant or agreement contained in the Ground Lease to which such Mortgagor is a party, or in this Deed of Trust, on the part of such Mortgagor to be performed
or observed, beyond any applicable grace period, Bank shall have, and is hereby granted, the sole and exclusive right to designate and appoint on behalf of such Mortgagor the arbitrator(s) or appraiser(s) in such proceeding. 

(g) Each Mortgagor shall use its reasonable efforts to obtain from the lessor under the Ground Lease to which such Mortgagor is a party, and
deliver to Bank, within twenty (20) days after written request by Bank, a statement in writing certifying that such Ground Lease is unmodified and in full force and effect (or if modified, stating the modifications) and the dates to which the
ground rent and other charges, if any, have been paid in advance, and stating whether or not, to the best knowledge of the signer of such certificate, such Mortgagor is in default in the performance of any covenant or agreement contained in such
Ground Lease, and, if so, specifying each such default of which the signer may have knowledge. 
 (h) Each Mortgagor, at least six
(6) months prior to the last day upon which such Mortgagor, as lessee under the Ground Lease to which such Mortgagor is a party, may validly exercise any option to renew or extend the term of such Ground Lease (but in no event earlier than
permitted by the applicable Ground Lease), (i) duly shall exercise such option, and (ii) shall give immediate notice thereof to Bank; if such Mortgagor shall fail so to do, Bank shall have, and is hereby granted, the irrevocable right to
exercise any such option, either in its own name and behalf, or in the name and behalf of such Mortgagor, as Bank shall in its sole discretion determine. 

  
 6 

 (i) Each Mortgagor promptly shall notify Bank of any change in ground rent payable by the lessee
under the Ground Lease to which such Mortgagor is a party. 
 (j) In the event that any proceeds of insurance on any part of the Mortgaged
Property, or any proceeds of any award for the taking by eminent domain of any part of the Mortgaged Property, shall be deposited with any Person pursuant to the requirements of any Ground Lease, the applicable Mortgagor promptly shall notify Bank
of the name and address of such person and the amount so deposited. 
 1.03 Security Agreement. With respect to all personal
property (the “Personal Property”) constituting part of the Mortgaged Property that is subject to Article 9 of the Uniform Commercial Code as enacted in the state where the Land is situated (the “UCC”), this Deed of Trust is
hereby made and declared to be a security agreement encumbering each and every item or type of Personal Property listed herein or included herein as a part of the Mortgaged Property, in compliance with the provisions of the UCC, and each Mortgagor
hereby grants to Bank a security interest in such Mortgagor’s Interest in said items and personal property. Each Mortgagor hereby authorizes Bank to file a financing statement or statements reciting this Deed of Trust to be a security agreement
affecting all of such Mortgagor’s Interest in said Personal Property. The remedies for any violation of the covenants, terms and conditions of the security agreement contained in this Deed of Trust, or otherwise in respect of an Event of
Default hereunder, shall be (a) as prescribed herein, or (b) as prescribed by general Law, or (c) as prescribed by the specific statutory consequences now or hereafter enacted and specified in the UCC, all at Bank’s sole
election. Mortgagors agree that the filing of such financing statement(s) in the records normally having to do with personal property shall not in any way affect the agreement of Mortgagors and Bank that everything used in connection with the
production of income from the Mortgaged Property or adapted for use therein or that is described or reflected in this Deed of Trust, is, and at all times and for all purposes and in all proceedings both legal or equitable, shall be regarded as part
of the real estate conveyed hereby regardless of whether (i) any such item is physically attached to the Improvements, (ii) serial numbers are used for the better identification of certain items capable of being thus identified in an
Exhibit to this Deed of Trust, or (iii) any such item is referred to or reflected in any such financing statement(s) so filed at any time. Similarly, the mention in any such financing statement(s) of the rights in and to (A) the proceeds
of any fire and/or hazard insurance policy, or (B) any award in eminent domain proceedings for taking or for loss of value, or (C) any Mortgagor’s interest as lessor in any present or future lease or rights to income growing out of
the use and/or occupancy of the Mortgaged Property, whether pursuant to lease or otherwise, shall not in any way alter any of the rights of Bank as determined by this instrument or affect the priority of Bank’s security interest granted hereby
or by any other recorded document, it being understood and agreed that such mention in such financing statement(s) is solely for the protection of Bank in the event any court shall at any time hold, with respect to the foregoing items (A), (B), or
(C), that notice of Bank’s priority of interest, to be effective against a particular class of persons, must be filed in the UCC records. This Deed of Trust may be filed as a financing statement in any office where Bank deems such filing
necessary or desirable and Mortgagors will promptly upon demand reimburse Bank for the costs therefor. 
 1.04 Use of Mortgaged
Property. Each Mortgagor shall at all times operate the Mortgaged Property owned by such Mortgagor as medical offices and related uses. Mortgagors shall not be permitted to alter or change the use of the Mortgaged Property without the
prior written consent of Bank. 

  
 7 

 1.05 Conveyance of Mortgaged Property. Except as otherwise expressly
permitted by the Credit Agreement, Mortgagors shall not directly or indirectly encumber (by Lien, junior mortgage, or otherwise), pledge, convey, transfer or assign any or all of its interest in the Mortgaged Property, or any portion thereof,
without the prior written consent of Bank. 
 1.06 Acquisition of Collateral. Except as otherwise expressly permitted by the
Credit Agreement, Mortgagors shall not acquire any Personal Property subject to any Lien taking precedence over the Lien of this Deed of Trust. 

ARTICLE II 

2.01 Events of Default. The term “Event of Default”, wherever used in this Deed of Trust, shall mean an “Event of
Default” as defined in the Credit Agreement. 
 2.02 Acceleration of Maturity. If an Event of Default shall have
occurred and be continuing, then the Obligations shall, at the option of Bank, immediately become due and payable as provided in the Credit Agreement, and no omission on the part of Bank to exercise such option when entitled to do so shall be
construed as a waiver of such right. 
 2.03 Rights and Remedies. 

(a) If an Event of Default shall have occurred, then in addition to the rights and remedies provided for under any other Loan Document or
under applicable Law, then at the option of Bank this Deed of Trust may be foreclosed in any manner now or hereafter provided by Maryland Law, and, at the option of Bank, Bank, by and through the Trustee or otherwise, may sell the Mortgaged Property
or any part of the Mortgaged Property at one or more public sales, provided that the same shall comply with the requirements of applicable Law. Mortgagor assents to the passing of a decree for the sale of the Mortgaged Property or any portion
thereof in accordance with the Real Property Article of the Annotated Code of Maryland and Title 14 of the Maryland Rules of Procedure, as amended, and Bank, Trustee, or such other Person designated by Bank, shall have the power to and may sell the
Mortgaged Property at public auction. Bank, by and through the Trustee or otherwise, may offer the property herein conveyed as a whole, regardless of how it is described. At any such sale, Bank, by and through the Trustee or otherwise, may execute
and deliver to the purchaser a conveyance of the Mortgaged Property or any part of the Mortgaged Property. Bank, by and through the Trustee or otherwise, shall have the right to enforce any of its remedies set forth herein and as provided in the
Credit Agreement. In the event of any sale under this Deed of Trust by virtue of the exercise of the powers herein granted, or pursuant to any order in any judicial proceedings or otherwise, the Mortgaged Property may be sold as an entirety or in
separate parcels and in such manner or order as Bank in its sole discretion may elect, and if Bank so elects, Bank, by and through the Trustee or otherwise, may sell the personal property covered by this Deed of Trust at one or more separate sales
in any manner permitted by the UCC, and one or more exercises of the powers herein granted shall not extinguish or exhaust such powers, until the entire Mortgaged Property is sold or the Obligations are paid in full. If the Obligations are now or
hereafter further secured by any 

  
 8 

 
chattel mortgages, pledges, contracts of guaranty, assignments of lease or other security instruments, Bank at its option may exhaust the remedies granted under any of said security instruments
or this Deed of Trust either concurrently or independently, and in such order as Bank may determine. 
 (b) Said sale may be adjourned by
Bank, or its agent, and reset at a later date without additional publication; provided that an announcement to that effect be made at the scheduled place of sale at the time and on the date the sale is originally set. 

(c) In the event of any sale of the Mortgaged Property as authorized by this Section, all prerequisites of such sale shall be presumed to have
been performed, and in any conveyance given hereunder all statements of facts, or other recitals therein made, as to the non-payment or non-performance of the Obligations or as to the advertisement of sale, or the time, place and manner of sale, or
as to any other fact or thing, shall be taken in all courts of law or equity as prima facie evidence that the facts so stated or recited are true. 

(d) If an Event of Default shall have occurred, Bank may, in addition to and not in abrogation of the rights covered under Subparagraph
(a) of this Section, either with or without entry or taking possession as herein provided or otherwise, proceed by a suit or suits in law or in equity or by any other appropriate proceeding or remedy to pursue any other remedy available to it,
all as Bank in its sole discretion shall elect. 
 2.04 Purchase by Bank. Upon any foreclosure sale or sale of all or any
portion of the Mortgaged Property under the power herein granted, Bank may bid for and purchase the Mortgaged Property and shall be entitled to apply all or any part of the Obligations as a credit to the purchase price. 

2.05 Mortgagor as Tenant Holding Over. In the event of any such foreclosure sale or sale under the powers herein granted, any
Mortgagor (if such Mortgagor shall remain in possession) and all Persons holding under such Mortgagor shall be deemed tenants holding over and shall forthwith deliver possession to the purchaser or purchasers at such sale or be summarily
dispossessed according to provisions of Law applicable to tenants holding over. 
 2.06 Waiver of Appraisement, Valuation,
Etc. Each Mortgagor agrees, to the full extent permitted by law, that in case of a Default on the part of such Mortgagor hereunder, neither such Mortgagor nor anyone claiming through or under such Mortgagor hereunder will set up, claim or
seek to take advantage of any appraisement, valuation, stay, extension, homestead, exemption or redemption laws now or hereafter in force, in order to prevent or hinder the enforcement or foreclosure of this Deed of Trust, or the absolute sale of
the Mortgaged Property owned by such Mortgagor, or the delivery of possession thereof immediately after such sale to the purchaser at such sale, and each Mortgagor, for itself and all who may at any time claim through or under it, hereby waives and
renounces to the full extent that it may lawfully so do so, the benefit of all such laws, and any and all right to have the assets subject to the security interest of this Deed of Trust marshaled upon any foreclosure or sale under the power herein
granted. 
 2.07 Waiver of Homestead. Each Mortgagor hereby waives and renounces all homestead and exemption rights provided
for by the Constitution and the Laws of the United States and of any state, in and to the Mortgaged Property as against the collection of the Obligations, or any part thereof. 

  
 9 

 2.08 Leases. Bank, at its option, is authorized to foreclose this Deed of Trust
subject to the rights of any tenants of the Mortgaged Property, and the failure to make any such tenants parties to any such foreclosure proceedings and to foreclose their rights will not be, nor be asserted to be by any Mortgagor, a defense to any
proceeding instituted by Bank to collect the sums secured hereby. 
 2.09 Discontinuance of Proceedings. In case Bank shall
have proceeded to enforce any right, power or remedy under this Deed of Trust by foreclosure, entry or otherwise, and such proceedings shall have been discontinued or abandoned for any reason, or shall have been determined adversely to Bank, then in
every such case, Mortgagors and Bank shall be restored to their former positions and rights hereunder, and all rights, powers and remedies of Bank shall continue as if no such proceedings had occurred. 

ARTICLE III 

3.01 The Trustee. 

(a) Except as may be expressly provided by Law to the contrary, the Trustee shall not be liable for any error of judgment or act done by the
Trustee in good faith, or be otherwise responsible or accountable to Mortgagor under any circumstances, nor shall the Trustee be personally liable in case of entry by the Trustee, or anyone entering by virtue of the powers herein granted, upon the
Mortgaged Property for debts contracted or liability or damages incurred in the management or operation of the Mortgaged Property. The Trustee shall have the right to rely on any instrument, document or signature authorizing or supporting any action
taken or proposed to be taken by the Trustee hereunder, believed by the Trustee in good faith to be genuine. The Trustee shall be entitled to reimbursement for expenses incurred by the Trustee in the performance of the Trustee’s duties
hereunder and to reasonable performance of the Trustee’s duties hereunder and to reasonable compensation for such of the Trustee’s services hereunder as shall be rendered. Mortgagor will, from time to time, pay the compensation due to the
Trustee hereunder and reimburse the Trustee for, and save the Trustee harmless against, any and all liability and expenses that may be incurred by the Trustee in the performance of the Trustee’s duties. 

(b) All moneys received by the Trustee shall, until used or applied as herein provided, be held in trust for the purposes for which they were
received, but need not be segregated in any manner from any other moneys (except to the extent required by Law), and the Trustee shall be under no liability for interest on any money received by the Trustee hereunder. 

(c) The Trustee may resign at any time with or without notice. If the Trustee shall die, resign or become disqualified from acting in the
execution of this trust or shall fail or refuse to execute the same when requested by Bank so to do, or if, for any reason, Bank shall prefer to appoint a substitute trustee to act instead of the aforenamed Trustee, Bank shall have full power to
appoint a substitute trustee (by the filing of a Deed of Appointment in the office where this Deed of Trust is recorded) and, if preferred, several substitute trustees in succession who shall succeed to all the estates, rights, powers and duties of
the aforenamed Trustee. If Bank is a corporation, such appointment may be made by any one of Bank’s officers or agents. 

  
 10 

 (d) Any new Trustee appointed pursuant to any one of the provisions hereof shall, without any
further act, deed or conveyance, become vested with all the estates, properties, rights, powers and trusts of its or his predecessor in the rights hereunder with like effect as if originally named as Trustee herein, but nevertheless, upon the
written request of Bank or of the successor Trustee, the Trustee ceasing to act shall execute and deliver an instrument transferring to such successor Trustee, upon the trusts herein expressed, all the estates, properties, rights, powers and trusts
of the Trustee so ceasing to act, and shall duly assign, transfer and deliver any of the property and money held by such Trustee to the successor Trustee so appointed in its or his place. 

3.02 Successors and Assigns. This Deed of Trust shall inure to the benefit of and be binding upon Mortgagors, Trustee and Bank
and their respective heirs, executors, legal representatives, successors and assigns. Whenever a reference is made in this Deed of Trust to “Mortgagors”, “Borrowers”, “Trustee” or “Bank”, such reference shall
be deemed to include a reference to the heirs, executors, legal representatives, successors, successors in title and assigns of Mortgagors, Borrowers, Trustee or Bank, as the case may be, but shall not imply any permission to make or permit any
transfer which is otherwise prohibited. 
 3.03 Applicable Law. This Deed of Trust shall be interpreted, construed and
enforced according to the laws of the State of Maryland without regard to that state’s conflict of laws principles. 
 3.04
Notices. All notices provided for herein shall be given and deemed received when given and received in accordance with the terms of the Credit Agreement. 

3.05 Assignment. This Deed of Trust is assignable by Bank and any assignment of this Deed of Trust by Bank shall operate to vest
in the assignee all rights and powers herein conferred upon and granted to Bank. 
 3.06 Future Advances. Upon request of
Borrowers, Bank, at Bank’s option so long as this Deed of Trust secures indebtedness held by Bank, may make future advances to Borrowers. Such future advances, with interest thereon, shall be secured hereby if made under the terms of this Deed
of Trust or the other Loan Documents, or if made pursuant to any other promissory note, instrument or agreement stating that sums advanced thereunder are secured hereby. 

3.07 Entire Agreement. THE WRITTEN LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT AMONG THE PARTIES AND MAY NOT BE
CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES. 

* * * * * 

  
 11 

 IN WITNESS WHEREOF, this instrument has been duly executed and effective as of the day and
year first above written. 
  

			
	CHP CALVERT MOB OWNER, LLC,
	a Delaware limited liability company
		
	By:	 	 /s/ Joshua J. Taube

		 	Joshua J. Taube, Vice President
	
	 CHP MEDICAL ARTS MOB OWNER, LLC,
 a
Delaware limited liability company

		
	By:	 	 /s/ Joshua J. Taube

		 	Joshua J. Taube, Vice President
	
	 CHP DUNKIRK MOB OWNER, LLC,
 a
Delaware limited liability company

		
	By:	 	 /s/ Joshua J. Taube

		 	Joshua J. Taube, Vice President

 STATE OF FLORIDA 
 COUNTY
OF ORANGE 
 I, the undersigned, a Notary Public in and for said County in said State, hereby certify that Joshua J. Taube, whose name as
Vice President of CHP Calvert MOB Owner, LLC, a Delaware limited liability company, is signed to the foregoing instrument, and who is known to me, acknowledged before me that, being informed of the contents of such instrument, he, as such officer
and with full authority, executed the same voluntarily for and as the act of said limited liability company. 
 Given under my hand and
official seal, this the 23rd day of August, 2013. 
 [SEAL] 

 

			
	 /s/ Cathleen A. Coffey

	Notary Public
	My Commission Expires: September 24, 2013

  
 12 

 STATE OF FLORIDA 

COUNTY OF ORANGE 
 I, the undersigned, a Notary
Public in and for said County in said State, hereby certify that Joshua J. Taube, whose name as Vice President of CHP Medical Arts MOB Owner, LLC, a Delaware limited liability company, is signed to the foregoing instrument, and who is known to me,
acknowledged before me that, being informed of the contents of such instrument, he, as such officer and with full authority, executed the same voluntarily for and as the act of said limited liability company. 

Given under my hand and official seal, this the 23rd day of August, 2013. 

[SEAL] 
  

			
	 /s/ Cathleen A. Coffey

	Notary Public
	My Commission Expires: September 24, 2013

 STATE OF FLORIDA 
 COUNTY
OF ORANGE 
 I, the undersigned, a Notary Public in and for said County in said State, hereby certify that Joshua J. Taube, whose name as
Vice President of CHP Dunkirk MOB Owner, LLC, a Delaware limited liability company, is signed to the foregoing instrument, and who is known to me, acknowledged before me that, being informed of the contents of such instrument, he, as such officer
and with full authority, executed the same voluntarily for and as the act of said limited liability company. 
 Given under my hand and
official seal, this the 23rd day of August, 2013. 
 [SEAL] 

 

			
	 /s/ Cathleen A. Coffey

	Notary Public
	My Commission Expires: September 24, 2013

  
 13 

 ATTORNEY CERTIFICATION 

I, being an attorney admitted to practice before the Court of Appeals of the State of Maryland, hereby certify that this instrument was
prepared by me or under my supervision. 
  

			
	 /s/ Mark D. Dopkin

	Print Name:	 	 Mark D. Dopkin

  
 14 

 EXHIBIT A-1 

[Intentionally Omitted] 

EXHIBIT A-2 

[Intentionally Omitted] 

EXHIBIT A-3 

[Intentionally Omitted]

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