Document:

EX-10.3

	 	 	 
	 Siemens Financial Services, Inc.
	 	 	FIRST AMENDMENT
	 	 	TO LOAN AND SECURITY AGREEMENT
	 	 	(Healthcare Direct/Real Estate)
	 	 	Dated: May 27, 2011

#: 405-0001064-000

THIS FIRST AMENDMENT TO LOAN AND SECURITY AGREEMENT (as amended, restated,
supplemented, or otherwise modified from time to time, and together with all annexes, exhibits, and
schedules attached hereto, this “Amendment”) is made as of May 27, 2011 (the “Effective Date”) by
and among G&E HC REIT II MONUMENT LTACH PORTFOLIO, LLC, a Delaware limited liability company (“G&E
Monument”), as a Borrower and as the Borrower Representative (as defined in Section 14(c) of the
Loan Agreement, as defined below); G&E HC REIT II ATHENS LTACH, LLC, a Delaware limited liability
company (“G&E Athens”); G&E HC REIT II CAPE GIRARDEAU LTACH, LLC, a Delaware limited liability
company (“G&E Cape Girardeau”); G&E HC REIT II COLUMBIA LTACH, LLC, a Delaware limited liability
company (“G&E Columbia”); G&E HC REIT II JOPLIN LTACH, LLC, a Delaware limited liability company
(“G&E Joplin” and, together with G&E Monument, G&E Athens, G&E Cape Girardeau, and G&E Columbia,
the “Borrowers” and each a “Borrower”), each having a principal place of business at 1551 Tustin
Avenue, Suite 300, Santa Ana, California 92705; and SIEMENS FINANCIAL SERVICES, INC., a Delaware
corporation having a principal place of business at 170 Wood Avenue South, Iselin, New Jersey 08830
(“Lender”).

WHEREAS, Borrowers have previously entered into that certain Loan and Security Agreement dated
as of May 19, 2011 (the “Loan Agreement”), pursuant to which the Lender agreed to make the Loan to
the Borrowers upon the satisfaction of the terms and conditions contained in Section 4 of the Loan
Agreement.

WHEREAS, the conditions precedent under the Loan Agreement to funding were not satisfied and
certain material events subsequent to the date of the initial execution of the Loan Agreement
affected the proposed terms of the Loan.

WHEREAS, the Loan was not funded due to such events based on the requirement of Lender that it
consider the effect of such events on collateral for and amount of the Loan.

WHEREAS, Borrowers and Lender have agreed to a material modification of the Loan terms as set
forth in this First Amendment, including a reduction of the Loan Amount to $15,500,000, and other
material terms as set forth in this Amendment.

WHEREAS, Borrower and Lender agree that the effective date of the Loan and Loan Agreement,
including the modification of other material terms of the Loan, is as of the date of this
Amendment.

NOW, THEREFORE, in consideration of the foregoing premises and in order to induce Lender to
make the Loan, Borrowers and Lender hereby agree as follows:

1. RECITALS: The foregoing Recitals are hereby made a part of this Amendment.

2. DEFINITIONS: Capitalized terms used in this Amendment shall have the meanings assigned to
them in the Loan Agreement.

3. AMENDMENTS:

(a) The definition of Loan Amount in the second Recital of the Loan Agreement is hereby
amended by deleting “Twenty-Five Million and 00/100 Dollars ($25,000,000.00)” where it appears
therein and replacing it with “Fifteen Million Five Hundred Thousand and 00/100 Dollars
($15,500,000.00)”.

(b) Section 3(b) of the Loan Agreement is hereby amended by deleting the rate “5.83%” where it
appears therein and replacing it with the rate “5.53%”.

(c) Section 3(c) of the Loan Agreement is hereby amended by deleting the amount “$176,664.58”
where it appears therein and replacing it with the amount “$106,885.33”.

(d) A new Section 7(o) is hereby added to the Agreement as follows:

“(o) Post Closing Deliveries. The Borrowers shall cause the following to be
delivered to the Lender no later than June 23, 2011, the following:

(i) Additional Insured Endorsement to Tenants’ and Borrowers’ liability
insurance policies, naming Lender in such capacity.

(ii) Lender Loss Payee and Mortgagee Endorsement to Tenants’ and Borrowers’
property insurance policies, naming Lender in each such capacity.

(iii) Earlier Notice Endorsement of Cancellation or Material Change Endorsement
to the Tenants’ and Borrowers’ liability and property insurance policies, naming
Lender as a notice party.

(iv) The Assignment and Consent Agreement executed by Arvest Bank.”

(e) Annex I to the Loan Agreement is hereby amended by restating the definition of “Loan Fee”
as follows:

““Loan Fee” means $116,250.00, which shall be paid by Borrowers.”

(f) Exhibit B of the Loan Agreement is hereby deleted and replaced in its entirety with
Exhibit A to this Amendment.

4. REPRESENTATIONS AND WARRANTIES: To induce the Lender to enter into this Amendment, each
Borrower hereby certifies, represents and warrants to the Lender that:

(a) Each Borrower is duly authorized to execute and deliver this Amendment and to perform its
obligations under the Loan Agreement, as amended hereby.

(b) The execution and delivery of this Amendment and the performance by each Borrower of its
obligations under the Loan Agreement, as amended hereby, do not and will not conflict with any
provision of law or of the limited liability company agreement of any Borrower or of any agreement
binding upon the Borrower.

(c) The Loan Agreement, as amended hereby, is a legal, valid, and binding obligation of each
Borrower, enforceable against each Borrower in accordance with its terms, except as enforceability
may be limited by bankruptcy, insolvency, or other similar laws of general application affecting
the enforcement of creditors’ rights or by general principles of equity limiting the availability
of equitable remedies.

(d) The representation and warranties set forth in the Loan Agreement, as amended hereby, are
true and correct with the same effect as if such representations and warranties had been made on
the date hereof, with the exception that all references to the financial statements shall mean the
financial statements most recently delivered to the Lender and except for such changes as are
specifically permitted under the Loan Agreement. The Borrower has complied with and is in
compliance with all of the covenants set forth in the Loan Agreement, as amended hereby.

(e) As of the date hereof, no Event of Default under the Loan Agreement, as amended hereby, or
event or condition which, with the giving of notice or the passage of time, or both, would
constitute an Event of Default, has occurred or is continuing.

5. CONDITIONS PRECEDENT: This Amendment shall become effective as of the date above first
written after receipt by the Lender of the following:

(a) This Amendment executed by the Borrower, the Guarantor, and the Lender.

(b) A Replacement Revolving Note in the form of Exhibit B to this Amendment, executed by the
Borrowers.

(c) A funding request in the form of Exhibit A to the Loan Agreement, revised to reflect the
amended Loan Amount.

(d) Each of the items required to be delivered to the Lender pursuant to Section 4 of the Loan
Agreement.

6. MISCELLANEOUS:

(a) Governing Law; Jurisdiction and Venue. THIS AMENDMENT SHALL BE GOVERNED AND
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT GIVING EFFECT TO THE
PRINCIPLES OF CONFLICT OF LAWS THEREOF. BORROWERS AND LENDER AGREE THAT ALL ACTIONS OR PROCEEDINGS
RELATING DIRECTLY OR INDIRECTLY TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY MAY BE
LITIGATED IN THE FEDERAL, STATE OR LOCAL COURTS SITTING IN OR FOR THE COUNTY OF MIDDLESEX, NEW
JERSEY, AND HEREBY SUBMIT TO THE NON-EXCLUSIVE JURISDICTION OF SUCH COURTS. Borrowers and Lender
acknowledge that such courts are convenient forums and waive any defense based upon doctrines of
venue or forum non-conveniens or similar rules or doctrines.

(b) Severability. Any provision of any Loan Document which is unenforceable in any
jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or
unenforceability, without invalidating the remaining provisions of such Loan Document.

(c) Successors and Assigns. The Loan Documents shall be binding upon and inure to the
benefit of the parties hereto, their legal representatives, heirs, and permitted successors and
assigns.

(d) Continuing Force and Effect of Loan Documents. Except as specifically modified or
amended by the terms of this Amendment, all other terms and provisions of the Loan Agreement and
the other Loan Documents are incorporated by reference herein, and in all respects, shall continue
in full force and effect. Each Borrower, by execution of this Amendment, hereby reaffirms, assumes,
and binds itself to all of the obligations, duties, rights, covenants, terms, and conditions that
are contained in the Loan Agreement and the other Loan Documents.

(e) References to Loan Agreement. Each reference in the Loan Agreement to “this
Agreement”, “hereunder”, “hereof”, or words of like import, and each reference to the Loan
Agreement in any and all instruments or documents delivered in connection therewith, shall be
deemed to refer to the Loan Agreement, as amended hereby.

(f) Waiver and Release of Claims. Each Borrower hereby waives and releases any and
all current existing claims, counterclaims, defenses, or set-offs of every kind and nature which it
have or may have against the Bank arising out of, pursuant to, or pertaining in any way to the Loan
Agreement or any Loan Document, and any and all documents and instruments in connection with or
relating to the foregoing, and this Amendment. Each Borrower each hereby further covenants and
agrees not to sue the Bank or assert any claims, defenses, demands, actions, or liabilities against
the Bank arising out of, pursuant to, or pertaining in any way to the Loan Agreement or any Loan
Document or any and all documents and instruments in connection with or relating to the foregoing,
and this Amendment.

(g) Counterparts. This Agreement may be executed in counterparts, all of which
counterparts taken together shall constitute one completed fully executed document.

(h) Waiver of Jury Trial. TO THE EXTENT PERMITTED BY LAW, THE PARTIES HERETO WAIVE
ALL RIGHTS TO A JURY TRIAL IN ANY LITIGATION ARISING FROM OR RELATED IN ANY WAY TO THE LOAN
DOCUMENTS OR THE TRANSACTIONS CONTEMPLATED THEREBY. THE PARTIES AGREE AND UNDERSTAND THAT THE
EFFECT OF THIS AGREEMENT IS THAT THEY ARE GIVING UP THE RIGHT TO TRIAL BY JURY TO THE EXTENT
PERMITTED BY LAW.

[SIGNATURE PAGE FOLLOWS]

IN WITNESS WHEREOF, the parties hereto have duly executed this Amendment as set forth
below.

	 
	ACCEPTED BY:

	SIEMENS FINANCIAL SERVICES, INC.,

as Lender

BY: /s/ Paul Ramseur

(Authorized Signature)

NAME: Paul Ramseur

(Printed or Typed)

TITLE: Vice President

(Printed or Typed)

DATE: May 27, 2011

BY: /s/ Stephanie Marinello

(Authorized Signature)

NAME: Stephanie Marinello

(Printed or Typed)

TITLE: Senior Vice President-Operations

(Printed or Typed)

DATE: May 27, 2011

(Printed or Typed)

	 

	 	 	 
	BY EXECUTION HEREOF, THE PERSON SIGNING ON BEHALF OF EACH BORROWER CERTIFIES
	THAT (S)HE HAS READ THIS ENTIRE AGREEMENT, THAT LENDER OR ITS REPRESENTATIVES
	HAVE MADE NO AGREEMENTS OR REPRESENTATIONS EXCEPT AS SET FORTH HEREIN OR IN THE
	OTHER LOAN DOCUMENTS, AND THAT (S)HE IS DULY AUTHORIZED TO EXECUTE THIS
	AGREEMENT ON BEHALF OF SUCH BORROWER.	 	 
	G&E HC REIT II MONUMENT LTACH PORTFOLIO, LLC,

as Borrower Representative and a Borrower

By: GRUBB & ELLIS HEALTHCARE REIT II HOLDINGS, LP

Its: Sole Managing Member

By: GRUBB & ELLIS HEALTHCARE REIT II, INC.

Its: General Partner

BY: /s/ Shannon K S Johnson

(Authorized Signature)

NAME: Shannon K S Johnson

(Printed or Typed)

TITLE: Chief Financial Officer

(Printed or Typed)

DATE: May 27, 2011

(Printed or Typed)

G&E HC REIT II ATHENS LTACH, LLC,

as a Borrower

G&E HC REIT II MONUMENT LTACH PORTFOLIO, LLC,

Its: Sole Managing Member

By: GRUBB & ELLIS HEALTHCARE REIT II HOLDINGS, LP

Its: Sole Managing Member

By: GRUBB & ELLIS HEALTHCARE REIT II, INC.

Its: General Partner

BY: /s/ Shannon K S Johnson

(Authorized Signature)

NAME: Shannon K S Johnson

(Printed or Typed)

TITLE: Chief Financial Officer

(Printed or Typed)

DATE: May 27, 2011

(Printed or Typed)

G&E HC REIT II CAPE GIRARDEAU LTACH, LLC, as a Borrower

G&E HC REIT II MONUMENT LTACH PORTFOLIO, LLC,

Its: Sole Managing Member

By: GRUBB & ELLIS HEALTHCARE REIT II HOLDINGS, LP

Its: Sole Managing Member

By: GRUBB & ELLIS HEALTHCARE REIT II, INC.

Its: General Partner

BY: /s/ Shannon K S Johnson

(Authorized Signature)

NAME: Shannon K S Johnson

(Printed or Typed)

TITLE: Chief Financial Officer

(Printed or Typed)

DATE: May 27, 2011

(Printed or Typed)

G&E HC REIT II COLUMBIA LTACH, LLC, as a Borrower

G&E HC REIT II MONUMENT LTACH PORTFOLIO, LLC,

Its: Sole Managing Member

By: GRUBB & ELLIS HEALTHCARE REIT II HOLDINGS, LP

Its: Sole Managing Member

By: GRUBB & ELLIS HEALTHCARE REIT II, INC.

Its: General Partner

BY: /s/ Shannon K S Johnson

(Authorized Signature)

NAME: Shannon K S Johnson

(Printed or Typed)

TITLE: Chief Financial Officer

(Printed or Typed)

DATE: May 27, 2011

(Printed or Typed)

G&E HC REIT II JOPLIN LTACH, LLC, as a Borrower

G&E HC REIT II MONUMENT LTACH PORTFOLIO, LLC,

Its: Sole Managing Member

By: GRUBB & ELLIS HEALTHCARE REIT II HOLDINGS, LP

Its: Sole Managing Member

By: GRUBB & ELLIS HEALTHCARE REIT II, INC.

Its: General Partner

BY: /s/ Shannon K S Johnson

(Authorized Signature)

NAME: Shannon K S Johnson

(Printed or Typed)

TITLE: Chief Financial Officer

(Printed or Typed)

DATE: May 27, 2011

(Printed or Typed)EX-10.4

	 	 	 
	 Siemen
	 	s Financial Services, Inc.

GUARANTY

Dated: May 19, 2011

As used in this guaranty (as amended, restated, supplemented, or otherwise modified from
time to time, this “Guaranty”), the following terms have the following meanings:

“SFS”: Siemens Financial Services, Inc., a Delaware corporation having a principal place of
business at 170 Wood Avenue South, Iselin, NJ 08830.

“Customers”: G&E HC REIT II Monument LTACH Portfolio, LLC, a Delaware limited liability
company; G&E HC REIT II Athens LTACH, LLC, a Delaware limited liability company; G&E HC REIT II
Cape Girardeau LTACH, LLC, a Delaware limited liability company; G&E HC REIT II Columbia LTACH,
LLC, a Delaware limited liability company; G&E HC REIT II Joplin LTACH, LLC, a Delaware limited
liability company, each having a principal place of business at 1551 Tustin Avenue, Suite 300,
Santa Ana, California 92705.

“Contract”: Loan and Security Agreement, dated as of May   , 2011, by and among SFS and
Customers, as may be amended, restated, supplemented, or otherwise modified from time to time, and
together with all annexes, exhibits, and schedules attached thereto.

“Guaranteed Obligations”: All obligations which Customers presently or hereafter may have
under the Contract and the other Loan Documents, including but not limited to payment when due of
all sums presently or hereafter owing by Customers thereunder.

“Loan Documents”: The “Loan Documents”, as such term is defined in the Contract.

For good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged,
and in order to induce SFS to enter into the Contract and/or to grant certain financial or other
accommodations related to the Contract, the undersigned guarantor (herein “Guarantor”)
unconditionally guarantees to SFS, the full and prompt payment and performance by Customers of the
Guaranteed Obligations. Guarantor acknowledges that its obligations and liability hereunder are
several, independent and separate from the obligations and liabilities of any other guarantor.

Guarantor agrees that it shall not be necessary as a condition to enforce this Guaranty that suit
first be instituted against Customers or that any rights or remedies against Customers first be
exhausted, it being agreed that the liability of Guarantor hereunder shall be primary, direct, and
in all respects unconditional. Guarantor agrees that if the maturity of any of the Guaranteed
Obligations is accelerated, by default or otherwise, such shall also be deemed accelerated for the
purposes of this Guaranty, and without demand upon or notice to Guarantor.

Guarantor authorizes SFS without notice or demand and without affecting its liability hereunder,
from time to time to: (a) renew, compromise, extend, accept partial payment of, accelerate or
otherwise change the time for payment of, or otherwise change the terms of, the Contract, the other
Loan Documents, and any of the Guaranteed Obligations; (b) take and hold security for the payment
of this Guaranty or any of the Guaranteed Obligations; (c) exchange, enforce, transfer, substitute,
subordinate, collect, liquidate, compromise, waive and release any such security; (d) apply such
security and direct the order and manner of disposition thereof as SFS in its discretion may
determine; (e) take and hold additional guaranties of the Guaranteed Obligations and amend, alter,
exchange, transfer or waive any such guaranties; and (f) release or substitute any one or more
guarantors of the Guaranteed Obligations.

Guarantor agrees that its obligations hereunder shall not be impaired in any manner whatsoever by:
(a) any waivers granted by SFS; (b) any bankruptcy, extensions, moratoria or other relief granted
to Customers pursuant to any statute presently in force or hereafter enacted; (c) the
fictitiousness, incorrectness, invalidity or unenforceability, for any reason, of the Contract or
any other Loan Document; (d) any disability or other defense that Customers may have under the
Contract or any other Loan Document, or any occurrence that releases Customers from liability
thereunder; (e) any defenses available to a surety under applicable law; (f) the failure of any
person to sign this or a similar guaranty; or (g) the dissolution or release from liability of any
other guarantor. Guarantor hereby waives notice of SFS’ acceptance of this Guaranty, all
presentments, demands for performance, notices of nonperformance, protests, notices of protest,
notices of dishonor, notices of sale of repossessed equipment and any collateral given in
connection with the Contract or any other Loan Document, notice of the existence, creation or
incurrence of new obligations covered by this Guaranty, and any other matters of which Guarantor
might otherwise be entitled. In addition, Guarantor waives any and all rights to assert against
SFS any claim or defense based upon an election of remedies by SFS which in any manner impairs,
affects, reduces, releases, destroys and/or extinguishes Guarantor’s subrogation rights and/or
Guarantor’s right to proceed against Customers for reimbursement, and/or any other rights of
Guarantor against Customers, and/or against any other person or security.

In the event that SFS for any reason (including but not limited to bankruptcy preferences), is
required to repay or disgorge any amounts or property received by it in respect of the Guaranteed
Obligations, then the liability of Guarantor under this Guaranty, with respect to such amounts or
property, shall be reinstated. SFS shall not be required to litigate or otherwise dispute its
obligation to make such repayments if it, in good faith, believes that such obligation exists.
Guarantor agrees that all present and future indebtedness of Customers to Guarantor is hereby
subordinated to, assigned and transferred to SFS and pledged and made security for the Guaranteed
Obligations in accordance with the terms of that certain Subordination Agreement dated even
herewith among SFS, Guarantor and certain other parties thereto, and that Guarantor shall have no
right of subrogation against Customers unless and until the Guaranteed Obligations are paid in
full.

LEGAL RIGHTS AND OBLIGATIONS HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH THE LAWS OF THE STATE
OF NEW YORK, WITHOUT GIVING EFFECT TO THE PRINCIPLES OF CONFLICT OF LAWS THEREOF. GUARANTOR
ACKNOWLEDGES THAT THIS GUARANTY AND THE CONTRACT ARE INTEGRAL AGREEMENTS TO AN OVERALL TRANSACTION.
ACCORDINGLY, GUARANTOR AGREES TO BE BOUND BY THE TERMS OF THE FORUM SELECTION CLAUSE IN THE
CONTRACT, AND FURTHER AGREES THAT ALL ACTIONS AND PROCEEDINGS RELATING DIRECTLY OR INDIRECTLY TO
THIS GUARANTY AND/OR THE TRANSACTION CONTEMPLATED HEREIN MAY BE LITIGATED IN ANY FEDERAL, STATE OR
LOCAL COURT (a) SITTING IN OR FOR THE COUNTY OF MIDDLESEX, NEW JERSEY AND/OR (b) IN WHICH
JURISDICTION IS PROPER OVER THE CUSTOMERS, AND GUARANTOR HEREBY CONSENTS AND SUBMITS TO THE
NON-EXCLUSIVE JURISDICTION OF ANY SUCH COURTS. Guarantor acknowledges that any such courts shall
be convenient forums, and hereby waives any defense on the grounds of improper venue or forum non
conveniens or any similar rules or doctrines. In addition, Guarantor hereby waives personal
service of process and consents to service of process by certified or registered mail directed to
Guarantor at its address set forth above or to such other address, written notice of which is
received by SFS. Such service shall be deemed completed on the third business day after such
process is so mailed. GUARANTOR AND THE HOLDER OF THIS GUARANTY, TO THE EXTENT PERMITTED BY LAW,
WAIVE ALL RIGHTS TO A JURY TRIAL IN ANY LITIGATION ARISING FROM OR RELATING IN ANY WAY TO THIS
GUARANTY OR THE TRANSACTION CONTEMPLATED HEREBY.

THIS GUARANTY CONTAINS THE COMPLETE AGREEMENT OF THE PARTIES WITH RESPECT TO ITS SUBJECT MATTER AND
SUPERSEDES AND REPLACES ANY PREVIOUSLY MADE PROPOSALS, REPRESENTATIONS OR AGREEMENTS WITH RESPECT
THERETO. No amendment hereunder shall be effective unless in writing, signed by Guarantor and SFS,
and no waiver hereunder shall be effective unless in writing, signed by the party to be charged.
The obligations hereunder of Guarantor shall be binding upon its respective successors, assigns and
legal representatives. This Guaranty is assignable without notice to Guarantor, and if requested,
Guarantor shall acknowledge such assignment in writing. This Guaranty shall be construed liberally
in favor of SFS and shall inure to the benefit of its successors and assigns. Any information
pertaining to Guarantor may be transferred by SFS to any prospective or actual assignee of the
Contract and/or the other Loan Documents. Any provision of this Guaranty which is unenforceable in
any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition
or unenforceability, without invalidating the remaining provisions hereof. No delay on the part of
SFS in exercising any right hereunder or in taking any action to collect or enforce payment of the
Guaranteed Obligations either against Customers or any other guarantor of the Guaranteed
Obligations shall operate as a waiver of any right, or in any manner prejudice SFS’ rights against
Guarantor. This Guaranty and the obligations of Guarantor hereunder shall continue in full force
and effect until the Guaranteed Obligations shall have been indefeasibly paid or otherwise
performed in full. Guarantor shall reimburse SFS on demand for all expenses incurred by it in the
enforcement or attempted enforcement of any of its rights against Customers and Guarantor
(including costs and reasonable attorneys’ fees).

[SIGNATURE PAGE FOLLOWS]The undersigned corporation warrants for itself that it is
authorized by law and by its articles of incorporation to execute this Guaranty, and the person
signing the same warrants that (s)he is specifically authorized thereunto by a duly adopted
resolution of the board of directors of Guarantor or the bylaws of Guarantor.

IN WITNESS WHEREOF, Guarantor executed this agreement as of the date set forth below,
intending to create an instrument executed under seal.

GUARANTOR:

GRUBB & ELLIS HEALTHCARE REIT II, INC.,

a Maryland corporation

By: /s/ Shannon K S Johnson

(Authorized Signature)

Name: Shannon K S Johnson

(Printed or Typed)

Title: Chief Financial Officer

(Printed or Typed)

Date: May 19, 2011

(Printed or Typed)

Address: 1551 N. Tustin Avenue, Suite 300

Santa Ana, CA 92705

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