Document:

Exhibit
10.42

 

PURCHASE AND SALE AGREEMENT

AND AGREEMENT TO ENTER INTO GROUND LEASE

 

by and between

 

THE PARTIES HEREIN DESCRIBED AS “SELLER”,

 

as Seller,

 

and

 

APPLEFIELD WAXMAN CAPITAL, INC.,

a Florida corporation,

 

as Buyer.

 

Effective Date: May 27, 2010

 

PROJECTS:

 

Central Medical Building, Fort Lauderdale, Florida

East Medical Building, Fort Lauderdale Florida

Oakland Medical Mall, Fort Lauderdale, Florida

FMC Excess Land, Fort Lauderdale, Florida

Hialeah Medical Office, Hialeah, Florida

Palmetto Medical Building, Hialeah, Florida

Medical Arts Building, Miami, Florida

St. Mary’s Professional Building, West Palm Beach, Florida

Farris Building, West Palm Beach, Florida

 

THE
PROPERTY SOLD PURSUANT TO THIS AGREEMENT IS SOLD “AS IS” AND “WITH ALL FAULTS.”
SELLER SHALL HAVE NO LIABILITY TO BUYER FOR ANY LATENT DEFECTS OR HIDDEN VICES.

 

 

TABLE OF CONTENTS

 

	
  ARTICLE 1

  	
   

  	
  BASIC DEFINITIONS

  	
  1

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  1.1

  	
   

  	
  Affiliate

  	
  1

  
	
   

  	
  1.2

  	
   

  	
  Closing

  	
  1

  
	
   

  	
  1.3

  	
   

  	
  Closing
  Date

  	
  1

  
	
   

  	
  1.4

  	
   

  	
  Contract
  Period

  	
  1

  
	
   

  	
  1.5

  	
   

  	
  Contracts

  	
  1

  
	
   

  	
  1.6

  	
   

  	
  Cure
  Period

  	
  1

  
	
   

  	
  1.7

  	
   

  	
  Deposit

  	
  2

  
	
   

  	
  1.8

  	
   

  	
  Disapproval
  Notice

  	
  2

  
	
   

  	
  1.9

  	
   

  	
  Effective
  Date

  	
  2

  
	
   

  	
  1.10

  	
   

  	
  Escrow
  Holder

  	
  2

  
	
   

  	
  1.11

  	
   

  	
  Fee
  Project

  	
  2

  
	
   

  	
  1.12

  	
   

  	
  Ground
  Lease

  	
  2

  
	
   

  	
  1.13

  	
   

  	
  Hazardous
  Substances

  	
  2

  
	
   

  	
  1.14

  	
   

  	
  Improvements

  	
  3

  
	
   

  	
  1.15

  	
   

  	
  Infectious
  Waste

  	
  3

  
	
   

  	
  1.16

  	
   

  	
  Initial
  Deposit

  	
  3

  
	
   

  	
  1.17

  	
   

  	
  Inspection
  Period

  	
  3

  
	
   

  	
  1.18

  	
   

  	
  Intangible
  Property

  	
  3

  
	
   

  	
  1.19

  	
   

  	
  Leases

  	
  3

  
	
   

  	
  1.20

  	
   

  	
  Liens

  	
  3

  
	
   

  	
  1.21

  	
   

  	
  Person

  	
  4

  
	
   

  	
  1.22

  	
   

  	
  Personal
  Property

  	
  4

  
	
   

  	
  1.23

  	
   

  	
  Permits

  	
  4

  
	
   

  	
  1.24

  	
   

  	
  Permitted
  Exceptions

  	
  4

  
	
   

  	
  1.25

  	
   

  	
  Project

  	
  4

  
	
   

  	
  1.26

  	
   

  	
  Property

  	
  4

  
	
   

  	
  1.27

  	
   

  	
  Purchase
  Price

  	
  4

  
	
   

  	
  1.28

  	
   

  	
  Real
  Property

  	
  4

  
	
   

  	
  1.29

  	
   

  	
  Second
  Deposit

  	
  4

  
	
   

  	
  1.30

  	
   

  	
  Seller’s
  Knowledge or Knowledge of Seller

  	
  5

  
	
   

  	
  1.31

  	
   

  	
  Survey

  	
  5

  
	
   

  	
  1.32

  	
   

  	
  Title
  Company

  	
  5

  
	
   

  	
  1.33

  	
   

  	
  Title
  Report

  	
  5

  
	
   

  	
  1.34

  	
   

  	
  Warranties

  	
  5

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE 2

  	
   

  	
  PURCHASE AND SALE

  	
  5

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  2.1

  	
   

  	
  Ground
  Lease; Purchase and Sale

  	
  5

  
	
   

  	
  2.2

  	
   

  	
  Purchase
  Price

  	
  5

  
	
   

  	
  2.3

  	
   

  	
  Ground
  Lease Term

  	
  6

  
	
   

  	
  2.4

  	
   

  	
  Fair
  Market Value

  	
  6

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE 3

  	
   

  	
  BUYER’S INSPECTIONS

  	
  6

  

 

i

 

	
   

  	
  3.1

  	
   

  	
  Inspection
  of Documents

  	
  6

  
	
   

  	
  3.2

  	
   

  	
  Inspection
  of Property

  	
  7

  
	
   

  	
  3.3

  	
   

  	
  Inspection
  of Title

  	
  8

  
	
   

  	
  3.4

  	
   

  	
  Scope
  of Seller’s Title Obligations

  	
  8

  
	
   

  	
  3.5

  	
   

  	
  Buyer’s
  Right to Terminate

  	
  9

  
	
   

  	
  3.6

  	
   

  	
  “AS
  IS” SALE

  	
  9

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE 4

  	
   

  	
  CONDITIONS PRECEDENT

  	
  9

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  4.1

  	
   

  	
  Conditions
  to Buyer’s Obligations

  	
  9

  
	
   

  	
  4.2

  	
   

  	
  Conditions
  to Seller’s Obligations

  	
  10

  
	
   

  	
  4.3

  	
   

  	
  Failure
  or Waiver of Conditions Precedent

  	
  10

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE 5

  	
   

  	
  COVENANTS, WARRANTIES AND REPRESENTATIONS

  	
  11

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  5.1

  	
   

  	
  Seller’s
  Warranties and Representations

  	
  11

  
	
   

  	
  5.2

  	
   

  	
  Seller’s
  Covenants

  	
  13

  
	
   

  	
  5.3

  	
   

  	
  Buyer’s
  Warranties and Representations

  	
  14

  
	
   

  	
  5.4

  	
   

  	
  Survival

  	
  15

  
	
   

  	
  5.5

  	
   

  	
  Leases

  	
  16

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE 6

  	
   

  	
  CLOSING

  	
  16

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  6.1

  	
   

  	
  Closing

  	
  16

  
	
   

  	
  6.2

  	
   

  	
  Deposits
  by Buyer

  	
  16

  
	
   

  	
  6.3

  	
   

  	
  Deposits
  by Seller

  	
  17

  
	
   

  	
  6.4

  	
   

  	
  Title
  Company’s Duties and Closing

  	
  18

  
	
   

  	
  6.5

  	
   

  	
  Closing
  Costs

  	
  18

  
	
   

  	
  6.6

  	
   

  	
  Prorations

  	
  19

  
	
   

  	
  6.7

  	
   

  	
  Insurance

  	
  22

  
	
   

  	
  6.8

  	
   

  	
  Delivery
  of Original Documents

  	
  22

  
	
   

  	
  6.9

  	
   

  	
  Filing
  of Reports

  	
  22

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE 7

  	
   

  	
  DAMAGE OR DESTRUCTION; CONDEMNATION

  	
  22

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  7.1

  	
   

  	
  Contract
  Period Damage

  	
  22

  
	
   

  	
  7.2

  	
   

  	
  Business
  Interruption and Rental Loss Insurance

  	
  23

  
	
   

  	
  7.3

  	
   

  	
  Damage
  That is Not Material Damage

  	
  23

  
	
   

  	
  7.4

  	
   

  	
  Condemnation

  	
  23

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE 8

  	
   

  	
  REMEDIES

  	
  24

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  8.1

  	
   

  	
  Remedies

  	
  24

  
	
   

  	
  8.2

  	
   

  	
  Liquidated
  Damages

  	
  24

  
	
   

  	
  8.3

  	
   

  	
  No
  Personal Liability; Several Liability

  	
  25

  
	
   

  	
  8.4

  	
   

  	
  Release

  	
  25

  

 

ii

 

	
   

  	
  8.5

  	
   

  	
  Maximum
  Aggregate Liability of Seller Post Closing

  	
  27

  
	
   

  	
  8.6

  	
   

  	
  Material
  Consideration

  	
  27

  
	
   

  	
  8.7

  	
   

  	
  Jury
  Trial Waiver

  	
  27

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE 9

  	
   

  	
  CONFIDENTIALITY

  	
  28

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  9.1

  	
   

  	
  Confidentiality

  	
  28

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE 10

  	
   

  	
  MISCELLANEOUS

  	
  29

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  10.1

  	
   

  	
  Sales
  Commissions and Finder’s Fees

  	
  29

  
	
   

  	
  10.2

  	
   

  	
  Amendment
  and Waiver

  	
  29

  
	
   

  	
  10.3

  	
   

  	
  Assignment

  	
  29

  
	
   

  	
  10.4

  	
   

  	
  Successors
  and Assigns

  	
  30

  
	
   

  	
  10.5

  	
   

  	
  Notices

  	
  30

  
	
   

  	
  10.6

  	
   

  	
  Time

  	
  30

  
	
   

  	
  10.7

  	
   

  	
  Possession

  	
  30

  
	
   

  	
  10.8

  	
   

  	
  Incorporation
  by Reference

  	
  31

  
	
   

  	
  10.9

  	
   

  	
  Attorneys’
  Fees

  	
  31

  
	
   

  	
  10.10

  	
   

  	
  Construction

  	
  31

  
	
   

  	
  10.11

  	
   

  	
  Governing
  Law

  	
  31

  
	
   

  	
  10.12

  	
   

  	
  Consent
  to Jurisdiction and Service of Process

  	
  31

  
	
   

  	
  10.13

  	
   

  	
  Termination
  Without Breach

  	
  31

  
	
   

  	
  10.14

  	
   

  	
  Counterparts

  	
  32

  
	
   

  	
  10.15

  	
   

  	
  Entire
  Agreement

  	
  32

  
	
   

  	
  10.16

  	
   

  	
  Relationship
  of Parties

  	
  32

  
	
   

  	
  10.17

  	
   

  	
  Recordation

  	
  32

  
	
   

  	
  10.18

  	
   

  	
  Radon
  Gas

  	
  32

  
	
   

  	
  10.19

  	
   

  	
  Escrow
  Holder

  	
  32

  
	
   

  	
  10.20

  	
   

  	
  Exclusivity
  of Agreement

  	
  33

  
	
   

  	
  10.21

  	
   

  	
  No
  Third Party Liability

  	
  33

  
	
   

  	
  10.22

  	
   

  	
  Electronic
  Records

  	
  33

  
	
   

  	
  10.23

  	
   

  	
  Trustee

  	
  34

  

 

iii

 

EXHIBITS

 

	
  Exhibit “A”

  	
   

  	
  Legal
  Description of Real Property

  
	
  Exhibit “B”

  	
   

  	
  Form of
  Ground Lease

  
	
  Exhibit “C”

  	
   

  	
  Form of
  General Assignment

  
	
  Exhibit “D”

  	
   

  	
  Form of
  FIRPTA Certificate

  
	
  Exhibit “E”

  	
   

  	
  Form of
  Lease Assignment and Assumption

  
	
  Exhibit “F”

  	
   

  	
  Form of
  Buyer’s Release

  
	
  Exhibit “G”

  	
   

  	
  Form of
  Seller’s Title Affidavit

  
	
  Exhibit “H”

  	
   

  	
  Form of
  Tenant Estoppel Certificate

  
	
  Exhibit “I”

  	
   

  	
  Form of
  Bill of Sale

  
	
  Exhibit “J”

  	
   

  	
  Form of
  REA

  
	
  Exhibit “K”

  	
   

  	
  Form of
  Deed

  

 

SCHEDULES

 

	
  Schedule
  1.5

  	
   

  	
  Contracts,
  Leases and Warranties

  
	
  Schedule
  1.14

  	
   

  	
  Description
  of the Improvements

  
	
  Schedule
  1.31

  	
   

  	
  List
  of Surveys

  
	
  Schedule
  1.33

  	
   

  	
  List
  of Title Reports

  
	
  Schedule
  2.3

  	
   

  	
  Schedule
  of Initial Base Rent

  
	
  Schedule
  3.1

  	
   

  	
  List
  of Additional Diligence Material

  
	
  Schedule
  5.1

  	
   

  	
  Disclosure
  Schedule

  
	
  Schedule
  5.1.6

  	
   

  	
  Rent
  Roll

  
	
  Schedule
  5.2.2

  	
   

  	
  Leasing
  Matrix

  
	
  Schedule
  6.6.5

  	
   

  	
  List
  of Repairs/Maintenance

  
	
  Schedule
  6.6.7

  	
   

  	
  List
  of Leases re: TI Expenditures/Leasing Expenditures

  

 

iv

 

THIS
PURCHASE AND SALE AGREEMENT AND AGREEMENT TO ENTER INTO GROUND LEASE (this “Agreement”)
is entered into by and between RICHARD B. SILVER, AS
SUCCESSOR TRUSTEE PURSUANT TO THE FMC LAND TRUST AGREEMENT NUMBER 1001, AND NOT
INDIVIDUALLY (“FMC Seller”), TENET
HIALEAH HEALTHSYSTEM, INC., a Florida corporation (“Hialeah
Seller”), TENET HEALTHSYSTEM NORTH SHORE, INC.,
a Florida corporation  (“North Shore
Seller”), LIFEMARK HOSPITALS, INC., a Delaware corporation (“Palmetto
Seller”), TENET GOOD SAMARITAN, INC., a
Florida corporation (“Samaritan Seller”), and TENET ST.
MARY’S INC., a Florida corporation (“St. Mary’s Seller”)
(collectively called “Seller”), and APPLEFIELD WAXMAN CAPITAL, INC.,
a Florida corporation (“Buyer”), with respect to the real property
located in Fort Lauderdale, Hialeah, Miami and West Palm Beach, Florida, as
more particularly described on Exhibit “A”, as of the Effective
Date.

 

ARTICLE 1

 

BASIC DEFINITIONS

 

In
addition to capitalized terms defined elsewhere in this Agreement, the
following terms shall have the following meanings:

 

1.1          Affiliate.  The term “Affiliate” of a specified Person means any Person which
directly or indirectly through one or more intermediaries controls, is
controlled by or is under common control with the Person specified.  The term “control” means the
possession, direct or indirect, of the power to direct or cause the direction
of the management and policies of a Person.

 

1.2          Closing.  The term “Closing” shall mean the
payment of the Purchase Price, recording of the instruments of conveyance and
the occurrence of all other acts required by this Agreement to transfer title to
the Property from Seller to Buyer.

 

1.3          Closing Date.  The term “Closing Date” shall mean the
date upon which the Closing occurs.  The
Closing Date shall be the date that is twenty-five (25) days after the
expiration of the Inspection Period, unless otherwise extended pursuant to the
terms of this Agreement.

 

1.4          Contract Period.  The term “Contract Period” shall mean
the period from the Effective Date of this Agreement through and including the
Closing Date.

 

1.5          Contracts.  The term “Contracts” shall mean the
maintenance, management, service or supply contracts, including all amendments
thereto set forth on Schedule 1.5 attached hereto, that relate to the
Real Property and/or the Personal Property.

 

1.6          Cure Period.  The term “Cure Period” shall mean the
seven (7) business day period following Buyer’s delivery of the
corresponding Disapproval Notice.

 

 

1.7          Deposit.  The term “Deposit” shall mean the
Initial Deposit and, if made by Buyer, the Second Deposit, together with all
interest which accrues thereon following the deposit thereof in escrow.

 

1.8          Disapproval Notice.  The term “Disapproval Notice” has the
meaning given in Section 3.3.

 

1.9          Effective Date.  The term “Effective Date” shall mean
the day and year set forth on the cover page of this Agreement and so
identified.

 

1.10        Escrow Holder.  The term “Escrow Holder” shall mean
Commonwealth Land Title Company, whose address for this transaction is as
follows:

 

2651 N. Harwood

Suite 260

Dallas,
Texas 75201

Attn:
Beverley Griesse

Phone
No:            (214)
855-8430

Fax
No.:               (214)
754-9066

E-mail:                 bgriesse@cltit.com

 

1.11        Fee Project. The term “Fee Project”
shall mean fee simple title to the parcel of Real Property identified on Exhibit A
as the “Fee Project”.

 

1.12        Ground Lease.  The term “Ground Lease” shall mean
individually one of, and together all of, the ground leases covering the Real
Property, one for each Project (other than the Fee Project which shall be
conveyed to Buyer in fee simple), in the form attached hereto as Exhibit “B”,
to be entered into at Closing.  The form
of Ground Lease shall be modified to conform to the legal requirements of the
state where the Project is located.

 

1.13        Hazardous Substances.  The term “Hazardous Substances” shall
mean any chemical, material or substance now or hereafter defined as or
included in the definition of “hazardous substances,” “hazardous wastes,” “hazardous
materials,” “extremely hazardous waste,” “restricted hazardous waste,” “toxic
substances” or words of similar import under any applicable local, state or
federal law or under the regulations adopted or publications promulgated
pursuant thereto (“Environmental
Laws”), including without limitation: the Comprehensive
Environmental Response, Compensation and Liability Act of 1980, 42 U.S.C. §
9601, et seq. (“CERCLA”); the Hazardous Materials Transportation Act, as
amended, 49 U.S.C. § 1801, et seq.; the Federal Water Pollution Control Act, as
amended, 33 U.S.C. § 1251, et seq.; the Resource Conservation and Recovery Act
of 1976, 42 U.S.C. § 6901, et seq. (“RCRA”).The term “Hazardous
Substances” shall also include any of the following: (i) any medical
or biological waste, (ii) any asbestos containing materials, (iii) any
and all toxic or hazardous substances, materials or wastes listed in the United
States Department of Transportation Table (49 CFR 172.101) or by the
Environmental Protection Agency as hazardous substances (40 CFR Part 302)
and in any and all amendments thereto in effect as of the Closing Date, (iv) oil,
petroleum, petroleum products (including, without limitation, crude oil),
natural gas, natural gas liquids, liquefied natural gas or synthetic gas usable
for fuel, not otherwise designated as a 

 

2

 

hazardous
substance under CERCLA, (v) any substance which is toxic, explosive,
corrosive, reactive, flammable, infectious or radioactive (including any
source, special nuclear or by-product material as defined at 42 U.S.C. § 2011,
et seq.), carcinogenic, mutagenic, or otherwise hazardous and is or becomes
regulated by any governmental authority, (vi) urea formaldehyde foam
insulation, transformers or other equipment which contain dielectric fluid
containing levels of polychlorinated byphenyls, radon gas, (vii) any Infectious
Waste, and (viii) any other chemical, material or substance (A) which
poses a hazard to the Property, to adjacent properties, or to persons on or
about the Property, (B) which causes the Property to be in violation of
any of the aforementioned laws or regulations, or (C) the presence of
which on or in the Property requires investigation, reporting or remediation
under any Environmental Laws.

 

1.14        Improvements.  The term “Improvements” shall mean all
buildings, structures and other improvements situated on the Real Property and
all fixtures and other property affixed thereto (collectively, the “Improvements”),
the Improvements being described separately on Schedule 1.14 attached
hereto by common name, street address and approximate number of square feet.

 

1.15        Infectious Waste.  The term “Infectious Waste” shall
mean: any solid waste capable of producing an infectious disease, including all
bulk blood, blood products; cultures of specimens from medical, pathological,
pharmaceutical, research, commercial and industrial laboratories; human
tissues; organs, body parts, secretions, blood and body fluids removed during
surgery and autopsies; the carcasses and body parts of all animals exposed to
pathogens in research, used in the vivo testing of pharmaceuticals or that died
of known or suspected infectious diseases; needles, syringes, scalpel blades
and other sharps.

 

1.16        Initial Deposit.  The term “Initial Deposit” shall mean
the amount of Five Hundred Thousand Dollars ($500,000) in cash or its
equivalent to be deposited with the Escrow Holder by Buyer pursuant to Section 2.2.1,
together with all interest which accrues thereon following the deposit thereof
into escrow.

 

1.17        Inspection Period.   The term “Inspection Period” means
the period commencing on the Effective Date and ending at 5:00 p.m.
Dallas, Texas time, on the forty-fifth (45th) day after the Effective Date.

 

1.18        Intangible Property.  The term “Intangible Property” shall
mean Seller’s interest, if any,  in the
Contracts, the Leases, the Permits, and the Warranties.

 

1.19        Leases.  As used in this Agreement, the term “Leases”
shall mean all leases, rental agreements and other agreements for occupancy of
any portion of the Improvements (other than the Ground Lease), as of the
Closing Date together with any amendments thereto, entered into between Seller
or Seller’s predecessor in interest and any tenant of the Improvements.  Seller makes no representation that any
particular Lease or Leases will be in effect as of the Closing Date.

 

1.20        Liens.     As used in this Agreement the term “Liens”
shall mean only (i) all mortgages, and (ii) liens for delinquent
taxes.  The term “Liens” shall not
include liens for current taxes or assessments which shall be prorated in
accordance with the terms of Section 6.6.

 

3

 

1.21         Person. The term “Person”
means any individual, partnership, corporation, limited liability company,
trust, unincorporated association, joint venture or any other entity of any
kind whatsoever, whether for profit or not for profit, and any governmental
agency.

 

1.22         Personal Property.  The term “Personal Property” shall
mean Seller’s interest, if any, in all fixtures, machinery, appliances,
equipment, landscaping and other personal property located on the Real Property
on the Closing Date.

 

1.23         Permits.  The term “Permits” shall mean all
licenses, permits, certificates (including without limitation certificates of
occupancy) and approvals issued by any federal, state or local government or
governmental agency relating to the ownership, occupancy or use of the
Improvements and/or the Personal Property.

 

1.24         Permitted Exceptions.  The term “Permitted Exceptions” shall
mean (i) all matters of record that are shown on the Title Commitment (as
defined below) received by Buyer prior to the expiration of the Inspection
Period; (ii) all exceptions to title shown on the Title Commitment or any
revision thereof; (iii) all matters shown on the Survey or any revision
thereof and any matter which would be shown on a current ALTA/ACSM survey of
the Real Property; (iv) all ad valorem real estate taxes for the calendar
year of the Closing and subsequent years and any special assessments not due
and payable as of the Closing Date; (v) all zoning and subdivision
restrictions applicable to the Property; (vi) restrictions on use of the
Property as more fully set forth in the REA (as hereinafter defined) and the
Deed (as hereinafter defined); and (vii) any matters that would be
revealed by a physical inspection of the Property provided
that the term “Permitted Exceptions” shall not include (A) any
Lien that Seller is obligated to remove pursuant to Section 3.4 of
this Agreement; or (B) any matter Seller agrees in writing to cure in
response to a Disapproval Notice.

 

1.25         Project.  The term “Project” shall mean (i) the
leasehold estate related to each parcel of Real Property, and the Improvements
thereon, and sometimes called by the common name listed on Schedule 1.14
and (ii) fee simple estate to the Fee Project.

 

1.26         Property.  The term “Property” shall mean (i) the
leasehold estate in the Real Property created by the Ground Lease, (ii) fee
simple title to the Fee Project, (iii) the Improvements, (iv) the
Personal Property, and (v) the Intangible Property.

 

1.27         Purchase Price.  The term “Purchase Price” shall mean
the sum of Fifty-Three Million Four Hundred Three Thousand Seven Hundred Nine
Dollars ($53,403,709), and payable as set forth in Section 2.2.

 

1.28         Real Property.  The term “Real Property” shall mean
each parcel or tract (including, without limitation, any and all easements and
appurtenances) described on Exhibit “A” attached hereto.

 

1.29         Second Deposit.  The term “Second Deposit” shall mean
the amount of Five Hundred Thousand Dollars ($500,000) in cash or its
equivalent to be deposited into escrow by Buyer with Escrow Holder pursuant to Section 2.2.2,
together with all interest which accrues thereon following the deposit thereof
into escrow.

 

4

 

1.30         Seller’s Knowledge or Knowledge of Seller.  The terms “Seller’s Knowledge” or “Knowledge
of Seller” (or words of similar import) mean the current actual knowledge
of Nicholas Bonrepos, the authorized signatory of Seller, without any duty of
inquiry or to make any investigation or any obligation to undertake any review
or investigate any documents, and all references in Article 5
regarding notices or other information “received by Seller” means written
notices in the actual possession of the named individual or of which such
individual has actual knowledge.

 

1.31         Survey.  The term “Survey” shall mean the
surveys of the Real Property described on Schedule 1.31.  Any revision or update to the Surveys shall
be at Buyer’s expense.

 

1.32         Title Company.   The term “Title Company” shall mean
Lawyers Title Insurance Corporation, through its agent, Commonwealth Land Title
Company.

 

1.33         Title Report.  The term “Title Report” shall mean the
Commitment for Title Insurance, Preliminary Title Report, or Title Commitment,
as the case may be, concerning each Project and Improvements thereon, if any,
issued by the Title Company, and described on Schedule 1.33.

 

1.34         Warranties.  The term “Warranties” shall mean all
existing warranties held by Seller, if any, and given by third parties with
respect to the Real Property and/or the Personal Property.

 

ARTICLE 2

 

PURCHASE AND SALE

 

2.1           Ground Lease; Purchase and Sale.  Seller agrees to (a) lease and demise to
Buyer, and Buyer hereby agrees to lease from Seller, the Real Property (other
than the Fee Project), upon the terms and conditions set forth herein and in
the Ground Lease; (b) sell and convey to Buyer, and Buyer agrees to
acquire from Seller, fee simple title to the Fee Project; and (c) sell and
convey to Buyer, and Buyer agrees to acquire, the fee interest in the
Improvements and all of Seller’s right, title and interest in Personal
Property, the Leases, and the Contracts, in each upon and subject to the terms
and conditions set forth herein and in the instruments and agreements to be
delivered at the Closing in accordance with this Agreement.

 

2.2           Purchase Price.  Subject to the closing adjustments and
prorations described in Section 6.5 and Section 6.6
hereof, Buyer shall pay the Purchase Price to Seller as follows:

 

2.2.1        Initial Deposit.  Not later than the second business day after
the Effective Date, and as a condition to Seller’s obligations under this
Agreement, Buyer shall deliver the Initial Deposit to the Escrow Holder, who
shall hold the Initial Deposit in accordance with the terms of this
Agreement.  Escrow Holder shall invest
the Initial Deposit in an interest-bearing cash-management account reasonably
acceptable to Buyer and Seller.

 

2.2.2        Second Deposit.  Not later than the last day of the Inspection
Period, and as a condition to Seller’s continuing obligations under this Agreement,
Buyer shall deliver the Second Deposit to the Escrow Holder, who shall hold the
Second Deposit in

 

5

 

accordance with the terms of this Agreement.  If Buyer fails to timely deliver the Second
Deposit, Seller may terminate this Agreement by written notice to Buyer and the
Initial Deposit shall be returned to Buyer. 
Escrow Holder shall invest the Second Deposit in an interest-bearing
cash-management account reasonably acceptable to Buyer and Seller.

 

2.2.2.1     In the event that this
transaction is consummated as contemplated by this Agreement, then the entire
amount of the Deposit shall be delivered by Escrow Holder to Seller and
credited against the Purchase Price.

 

2.2.2.2     In the event that this
transaction is not consummated as contemplated by this Agreement, the entire
amount of the Deposit shall be fully earned by Seller and non-refundable to
Buyer, and Escrow Holder shall disburse the Deposit to Seller in accordance
with Article 8 of this Agreement, unless Buyer terminates this
Agreement pursuant to Section 3.3, Section 3.5, Section 4.3,
Section 7.1, Section 7.4 or Section 8.1, in
which case Escrow Holder shall disburse the Deposit (or so much thereof as
funded by Buyer) to Buyer upon such termination.

 

2.2.3        Balance.  The balance of the Purchase Price shall be
paid to Seller by wire transfer of immediately available funds on the Closing
Date.

 

2.2.4        Allocation.  Prior to the end of the Inspection Period,
Seller and Buyer will endeavor to agree on a mutually acceptable allocation of
the Purchase Price between the respective Projects. If Seller and Buyer cannot
reach agreement on such allocations by the end of the Inspection Period, each
of Seller and Buyer may each make their own allocations of the Purchase Price
to the Projects.

 

2.3           Ground Lease Term.  The term of each Ground Lease shall be fifty
(50) years, with one (1) twenty-five (25) year renewal option, and the
initial base rent payable for each Ground Lease is set forth on Schedule 2.3
attached hereto.

 

2.4           Fair Market Value.  The parties expressly acknowledge that the
Purchase Price provided for in this Agreement has resulted from arm’s length
negotiations between the parties, has not been determined in a manner that
takes into account the volume or value of any referrals or business otherwise
generated among the parties, and is to the best knowledge of each party
consistent with fair market value for Property. This Agreement is limited
solely and strictly to the parties’ contractual arrangement in accordance with
the terms hereof. The Purchase Price paid to Seller is remuneration for
specific and actual value for the Property and such payment is in no way
intended to exercise influence over the reason or judgment of any physician
associated with Buyer with respect to referrals or the selection of service
providers for or on behalf of patients.

 

ARTICLE 3

 

BUYER’S INSPECTIONS

 

3.1           Inspection of Documents.  During the Inspection Period, after Buyer has
deposited the Initial Deposit with the Escrow Holder, Seller has already made
or will make

 

6

 

available
to Buyer within five (5) days of the Effective Date copies of the
following documents related to the Property (collectively, the “Diligence
Materials”): (i) copies of the Leases, (ii) copies of the Rent
Roll (as defined below), (iii) copies of the Title Report (the “Title
Commitment”) covering the Real Property previously prepared by the Title
Company, (iv) copies of the Survey, and (v) the material listed on Schedule
3.1.   Buyer acknowledges receipt of the Survey and
the Title Commitment.  Buyer acknowledges
and agrees that Seller will make available copies of the Diligence Materials at
Buyer’s request and without representation or warranty of any kind as to the
accuracy or completeness of the contents thereof.  Seller specifically notifies Buyer that the
Diligence Materials may not be all of the information regarding the Property or
any of the Projects in Seller’s files. 
Buyer agrees that it will conduct its own due diligence investigation to
verify to its own satisfaction the suitability of the Property and accuracy and
completeness of such documents or any other information provided to Buyer by
Seller, its agents or any other Person. 
All documents and information made available to Buyer by Seller or
Broker (as hereinafter defined) at any time prior to Closing pursuant to Article 6
of this Agreement shall be kept confidential by Buyer to the extent required
under the provisions of Section 9.1 of this Agreement.

 

3.2           Inspection of Property.  During the Inspection Period, Buyer shall
have the right, subject to the rights of tenants in possession, to conduct such
additional examinations or inspections of the physical condition of the
Property as Buyer deems necessary or appropriate, provided
that, except for a limited asbestos survey, Buyer may not conduct
any invasive or destructive testing without the prior written consent of
Seller, which consent may be granted or withheld in Seller’s sole
discretion.  In the event permission for
invasive or destructive testing is granted, Buyer shall return the Property to
substantially the same condition as existed immediately prior to such testing,
which obligation shall survive the termination of this Agreement.  Buyer shall take no action during its
inspection of the Property which would violate any federal, state, municipal or
other governmental laws, codes or requirements or interfere with the rights of
any tenant of the Property. Buyer agrees that, in making any inspections of, or
conducting any testing of, on or under the Property, Buyer and each of Buyer’s
agents will carry not less than Five Million Dollars ($5,000,000.00)
comprehensive general liability insurance with contractual liability
endorsement which insures Buyer’s indemnity obligations hereunder, and, prior
to entry on the Property, will provide Seller with a certificate of insurance
naming Seller as an additional insured. BUYER SHALL INDEMNIFY,
DEFEND AND HOLD SELLER FREE AND HARMLESS FROM AND AGAINST ANY AND ALL LOSSES,
LIABILITIES, DAMAGES, CLAIMS, COSTS AND EXPENSES, INCLUDING REASONABLE
ATTORNEYS’ FEES ARISING FROM OR IN ANY WAY RELATED TO SUCH PHYSICAL INSPECTIONS
AND ANY FURTHER INSPECTIONS BUYER OR ANY OF ITS AGENTS OR REPRESENTATIVES MAY CONDUCT
UPON THE PROPERTY PRIOR TO THE CLOSING.  Subject to the rights of tenants in
possession, Buyer shall have the right to enter the Property during Seller’s
normal business hours at any time prior to Closing with seventy-two (72) hours
advance written notice delivered to Seller. 
Notwithstanding anything to the contrary in this Agreement, this
indemnification shall survive the Closing or any termination of this Agreement.
Except with respect to Material Damage described in Section 7.1
below or a condemnation event as provided in Section 7.4 below,
after the expiration of the Inspection Period Buyer shall have no right to
disapprove of the physical condition of the Property or to terminate this
Agreement based on the physical condition of the Property.

 

7

 

3.3           Inspection of Title.  Seller, at Seller’s sole cost and expense,
has caused the Title Company to deliver (or posted on an on-line due diligence
data room) the Title Report, together with copies of the Schedule B — Section 2
title exceptions referenced in the Title Report. Buyer shall deliver to Seller
within twenty (20) days of the date hereof, but in any event prior to the
expiration of the Inspection Period (the “Title and Survey Review Period”),
a notice (“Disapproval Notice”) disapproving of any one or more of the
exceptions to title or other matters affecting title to the Property disclosed
by the Title Report or the Survey or other matter made known to Buyer (by the
Title Company, Seller or otherwise) during the Inspection Period which Buyer
finds objectionable (collectively, “Disapproved Items”) and specifying
in reasonable detail the requested cure steps. 
Within seven (7) business days of Seller’s receipt of the
Disapproval Notice (the “Cure Period”), Seller may, by written notice to
Buyer, elect to remove or otherwise cure one or more of the Disapproved Items
in the Disapproval Notice, such removal or cure to be completed as soon as
reasonably practicable, but in any case prior to the Closing Date. Seller shall
have no obligation to cure or remove any Disapproved Items and if Seller elects
to not cure one or more of the Disapproved Items (or fails to respond to the
Disapproval Notice), then Buyer’s sole remedy shall be to elect, by written
notice to Seller, to either (a) waive Buyer’s disapprovals with respect to
the un-removed and uncured Disapproved Items and proceed with the Closing
without delay or adjustment of the Purchase Price, or (b) terminate this
Agreement and receive a refund of the Deposit. In the event Buyer elects to
terminate this Agreement as provided in this Section 3.3, Buyer
shall provide written notice of such election to Seller pursuant to Section 10.13
within two (2) business days after the expiration of the Cure Period. In
the event Buyer fails to duly and timely terminate this Agreement in accordance
with the provisions of Section 3.3(b), Buyer shall be deemed to
have waived the Disapproved Items (other than any Disapproved Items Seller has
agreed in writing to remove or cure) and shall proceed with the Closing in
accordance with the terms of this Agreement. 
No termination by Buyer pursuant to Section 3.3(b) shall
serve to terminate any obligation which, by the express terms of this
Agreement, survives the expiration or termination of this Agreement.

 

On
or before Closing, Buyer shall cause the Title Report to be updated and if such
update should reveal any matter not appearing in the Title Report, which matter
(i) renders title to the Real Property unmarketable, (ii) is not a
Permitted Exception and (iii) was not caused by, through or under Buyer (a
“New Title Objection”), Buyer shall notify Seller of same within two (2) days
after Buyer obtains the update of the Title Report, but in any event not less
than two (2) business days prior to the Closing Date.  Seller’s obligation to cure any such New
Title Objection, if any, shall be as provided in the paragraph immediately
above in this Section, and, if Seller is obligated, or elects, to cure such
matter, the Closing shall be extended for a reasonable period of time not to
exceed thirty (30) days to allow Seller to effectuate such cure, with the
Closing to occur within ten (10) days from the date of cure.

 

3.4           Scope of Seller’s Title Obligations.  Seller shall have the obligation to remove
all Liens identified in the Title Report (other than any Liens for current
taxes or improvements which shall be prorated in accordance with the terms of Section 6.6)
and any obligations expressly assumed by Seller with respect to curing the
matters set forth in any Disapproval Notice in accordance with the provisions
of Section 3.3.  In each
case, such matters shall be removed by no later than the Closing Date.  As to any of the foregoing which constitute
delinquent tax liens, the corresponding taxes and penalties shall be paid at
Closing.  As to any of the foregoing
which constitute tax liens which are not yet delinquent, the corresponding
taxes

 

8

 

shall
be prorated between the parties pursuant to Section 6.6 below.  If Seller cannot or will not remove such
Liens which Seller is obligated to remove prior to the Closing Date, then Buyer
shall cure such Liens by instructing the Title Company to pay at Closing such
portion of the Purchase Price to the holders of such Liens as is necessary to
remove such Liens and to obtain from the holders of such Liens any recordable
releases required by the Title Company to remove those Liens as exceptions to
the title insured by the leasehold owner’s title policy issued pursuant to the
Title Report (the “Title Policy”).

 

3.5           Buyer’s Right to Terminate.  If Buyer determines, in Buyer’s sole
discretion, that the results of any such inspections or examination are not
acceptable to Buyer, Buyer may, at Buyer’s option, (a) elect to cancel
this Agreement on or before the last day of the Inspection Period, in which
case the Initial Deposit shall be forthwith returned to Buyer and Buyer and
Seller shall be relieved, as to each other, of all obligations under this
Agreement, except as otherwise provided in this Agreement; or (b) elect to
proceed to close under this Agreement, purchasing and accepting the Property in
its then “AS IS” condition subject to the provisions of this Agreement. If
Buyer does not give Seller written notice of Buyer’s unconditional election to
proceed to close under this Agreement, accepting the Property in its “AS IS”
condition, then Buyer shall be deemed to have elected to cancel this Agreement
pursuant to the terms of subparagraph (a) of this Section 3.5.  Timely delivery of the foregoing written
notice (and to thereafter deliver the Second Deposit in accordance with Section 2.2.2)
shall be the exclusive means by which Buyer can exercise its right to elect to
proceed to close under this Agreement.

 

3.6           “AS IS” SALE. 
Buyer acknowledges the disclaimers set forth in Section 5.1.8
hereof, and agrees that except for the limited representations and warranties
of Seller set forth in this Agreement, neither Seller nor anyone acting on
Seller’s behalf has made any representation or warranty, either express,
implied or statutory, with respect to the Property, its present condition
(environmental, physical or otherwise) or its fitness or suitability for a
particular purpose, merchantability or compliance with governmental laws, ordinances
or regulations. Buyer agrees that it is purchasing the Property AS IS, WHERE IS
and WITH ALL FAULTS based on Buyer’s independent investigation and inspection
of the Property and Buyer’s independent evaluation of the Property and
associated due diligence that Buyer has the right and opportunity to evaluate,
including applicable statutes, ordinances, governmental regulations and other
laws which shall be completed before the expiration of the deadlines identified
in this Agreement. Buyer further acknowledges and agrees that Buyer’s
acceptance of Seller’s disclaimers formed a material part of the consideration
to Seller and Seller’s determination to sell the Property for the Purchase
Price. The acknowledgements and agreements expressed in this Section 3.6
shall survive Closing.

 

ARTICLE 4

 

CONDITIONS PRECEDENT

 

4.1           Conditions to Buyer’s Obligations.  Notwithstanding anything in this Agreement to
the contrary, Buyer’s obligation to purchase the Property shall be subject to
and contingent upon the satisfaction (or waiver by Buyer) of the following
conditions precedent prior to and as of the Closing Date:

 

9

 

4.1.1        All documents required by Section 6.3
necessary to consummate the transactions contemplated in this Agreement by
Seller shall have been executed and delivered as required by this Agreement;

 

4.1.2        Each and every
representation and warranty of Seller contained in this Agreement shall be true
and correct in all material respects; and

 

4.1.3        Buyer shall have received on
or before the date which is five (5) days prior to the Closing Date a
completed and executed tenant estoppel certificate in substantially the form
attached hereto as Exhibit “H” (or in such other form as may
otherwise be set forth in any Lease) from tenants under the Leases covering at
least seventy percent (70%) of the rentable square footage of the building
located on each Project (other than the Fee Project) which is subject to an
existing lease as of the Effective Date, which shall include tenant estoppel
certificates from one hundred percent (100%) of all tenants who occupy 5,000
rentable square feet or more in any Project (other than the Fee Project) as of
the Effective Date (collectively, the “Tenant Estoppel Certificates”).  Buyer agrees not to object to (i) any
non-material qualifications or modifications which a tenant may make to the
form of Tenant Estoppel Certificate, or (ii) any modification to a Tenant
Estoppel Certificate to conform it to the form of tenant estoppel the tenant is
required to give under its Lease.

 

4.2           Conditions to Seller’s Obligations.  Notwithstanding anything in this Agreement to
the contrary, Seller’s obligation to sell the Property shall be subject to and
contingent upon the satisfaction (or waiver by Seller) of the following
conditions precedent prior to and as of the Closing Date:

 

4.2.1        Buyer shall have timely
tendered the Purchase Price;

 

4.2.2        All documents required by Section 6.2
necessary to consummate the transactions contemplated in this Agreement by
Buyer shall have been executed and delivered as required by this Agreement; and

 

4.2.3        Each and every
representation and warranty of Buyer contained in this Agreement shall be true
and correct in all material respects.

 

4.3           Failure or Waiver of Conditions Precedent.  In the event any of the conditions set forth
in Section 4.1.1, Section 4.1.2  or  4.1.3
do not occur as of the Closing Date or such earlier date as expressly set forth
therein, or have not been waived by Buyer, Buyer may, as its sole and exclusive
remedy, elect to terminate this Agreement by written notice to Seller,
delivered on or before the Closing Date, and receive a return of the
Deposit.  Buyer may, at its election, at
any time or times on or before the Closing Date, waive in writing the benefit
of any of the conditions set forth in Section 4.1. So long as Buyer
is not in default under this Agreement, in the event that the condition set
forth in Section 4.1.1 is unfulfilled as of the Closing Date,
Seller shall be in breach of its obligations under this Agreement and Buyer may
pursue the remedies set forth in Section 8.1.  Buyer’s election to close the transaction
contemplated by this Agreement shall be a waiver of the conditions set forth in
Section 4.1 unfulfilled as of the Closing Date.  In the event any of the conditions set forth
in Section 4.2 do not occur as of the Closing Date or such earlier

 

10

 

date
as expressly set forth therein, or have not been waived by Seller, Seller may
terminate this Agreement by written notice to Buyer and retain the Deposit.

 

ARTICLE 5

 

COVENANTS, WARRANTIES AND
REPRESENTATIONS

 

5.1           Seller’s Warranties and Representations.  Seller hereby represents and warrants to the
Buyer as follows:

 

5.1.1        Each Seller has full power
and lawful authority to enter into and carry out the terms and provisions of
this Agreement and to execute and deliver all documents which are contemplated
by this Agreement and all actions of Seller necessary to confer such power and
authority upon the persons executing this Agreement and all documents which are
contemplated by this Agreement on behalf of Seller have been, or by the Closing
Date will have been, taken;

 

5.1.2        FMC Seller is a trustee
under a land trust agreement. Hialeah Seller is a corporation duly organized,
validly existing and in good standing under the laws of the State of Florida.
North Shore Seller is a corporation duly organized, validly existing and in
good standing under the laws of the State of Florida. Palmetto Seller is a
corporation duly organized, validly existing and in good standing under the
laws of the State of Delaware. Samaritan Seller is a corporation duly
organized, validly existing and in good standing under the laws of the State of
Florida. St. Mary’s Seller is a corporation duly organized, validly existing
and in good standing under the laws of the State of Florida. The execution and
performance of this Agreement will not violate any material term of Seller’s
respective formation documents.  No
authorizations or approvals, whether of governmental bodies or otherwise (other
than from Seller’s (or its general partner’s/member’s/manager’s) Board of
Directors), will be necessary to enable Seller to enter into or comply with the
terms of this Agreement;

 

5.1.3        Except as specifically set
forth in the “Disclosure Schedule” (herein so called) attached hereto as
Schedule 5.1, to Seller’s actual knowledge, (A) no part of the
Property is currently subject to any pending or threatened (overtly in a
written notice to Seller) investigation or inquiry by any governmental
authority or to any remedial obligations under, nor has any tenant or other
person alleged in writing that the Property violates (excluding any violations
which have been cured), any applicable law, statute, ordinance, rule,
regulation, license, permit, order or determination of any governmental
authority or any board of fire underwriters (or similar body), or any
restrictive covenant or deed restriction or zoning ordinance or classification
affecting the Property, including, without limitation, any building codes,
flood disaster laws, and health and environmental laws and regulations
(hereinafter sometimes collectively called “Applicable Laws”); and (B) except
for matters disclosed by the Diligence Materials, Seller is not aware of any
existing violation of Applicable Laws related to the Property as of the date
hereof.  Buyer acknowledges that the
Disclosure Schedule does not disclose any threatened claim as to which Seller
has received no further assertion or threat of the claim for twelve (12)

 

11

 

months following Seller’s response to the claimant’s
initial (or most recent) notice of claim (such claims which have been raised
but for which Seller has received no further assertion or threat are herein
called “Stale Claims”); and with the Buyer’s acknowledgment and consent,
for the purpose of Seller’s representation in this subparagraph, such claim
shall be deemed not to have been made. 
Seller will indemnify, defend and hold the Buyer harmless from and
against any loss, damage, claim, liability, obligation, cost or expense arising
out of any Stale Claim;

 

5.1.4        Seller is not a person or
entity with whom United States persons or entities are restricted from doing
business under regulations of the Office of Foreign Asset Control (“OFAC”)
of the Department of the Treasury (including those named on OFAC’s Specially
Designated and Blocked Persons list), or under any statute, executive order
(including the September 24, 2002, Executive Order Blocking Property and
Prohibiting Transactions With Persons Who Commit, Threaten to Commit or Support
Terrorism) or other governmental action and is not and will not knowingly
engage in any dealing or transaction with such persons or entities;

 

5.1.5        This Agreement and the other
documents to be executed by Seller hereunder, upon execution and delivery
thereof by Seller, will have been duly entered into by Seller.  To Seller’s Knowledge, neither this Agreement
nor the consummation of the transactions described herein violates or shall
violate any contract, document, understanding, agreement, instrument, order or
decree to which Seller is a party or by which it is bound;

 

5.1.6        The rent rolls attached
hereto as Schedule 5.1.6 (collectively, the “Rent Roll”) is, as
of the Effective Date, true and correct in all material respects as of the date
thereof.  The copies of the Leases
delivered or to be delivered to the Buyer are true and correct reproductions of
the actual Leases.  Each Lease evidences
and is the complete agreement between the applicable Seller and the applicable
tenant with respect to the Property;

 

5.1.7        Schedule 1.5 contains a
true and correct list of all Contracts, the terms of which extend beyond
midnight of the day preceding the date of Closing. Seller does not represent or
warrant that any particular Contract will be in force or effect as of the
Closing or that the parties to such contracts will not be in default under
their respective contracts, and neither the existence of any default of any
party under any such Contract shall affect the obligations of Buyer hereunder;
and,

 

5.1.8        EXCEPT AS EXPRESSLY SET
FORTH IN THIS AGREEMENT, AND SUBJECT ONLY TO SELLER’S REPRESENTATIONS AND
WARRANTIES CONTAINED IN THIS ARTICLE 5, SELLER MAKES NO
REPRESENTATIONS OR WARRANTIES WHATSOEVER, EXPRESS, IMPLIED OR STATUTORY,
RELATING TO THE PROPERTY OR ANY PORTION THEREOF, OR THE CONDITION OF OR
MATERIALS RELATING TO THE PROPERTY OR ANY OTHER MATTER, ALL SUCH
REPRESENTATIONS AND WARRANTIES BEING HEREBY EXPRESSLY DISCLAIMED.  WITHOUT LIMITING THE GENERALITY OF THE
FOREGOING, AND EXCEPT AS EXPRESSLY SET FORTH IN THIS

 

12

 

AGREEMENT AND SUBJECT ONLY TO SELLER’S
REPRESENTATIONS AND WARRANTIES CONTAINED IN THIS ARTICLE 5, BUYER
IS PURCHASING THE PROPERTY “AS IS” AND “WITH ALL FAULTS.”  SELLER MAKES NO REPRESENTATIONS OR WARRANTIES
WITH RESPECT TO:  (a) environmental
matters relating to the Property or any portion thereof, including, without
limitation, the presence of any Hazardous Substances on the Property; (b) the
presence of mold or other microbial agents in the Property; (c) geological
or seismic conditions, including, without limitation, subsidence, subsurface
conditions, water table, underground water reservoirs, and limitations
regarding the withdrawal of water there from, and faulting; (d) whether or
not and the extent to which the Property or any portion thereof is affected by
any stream (surface or underground), body of water, flood prone area, flood
plain, floodway, or special flood hazard; (e) drainage and soil conditions
of the Property; (f) the existence of or availability of any development
rights; (g) zoning requirements (including any special use permits) to
which the Property or any portion thereof may be subject or the status of
compliance with such requirements; (h) the availability of any utilities
to the Property or any portion thereof including, without limitation, water,
sewage, gas and electricity; (i) usages of any adjoining property; (j) access
to the Property or any portion thereof; (k) the value, compliance with
specifications, size, location, age, use, merchantability, quality,
description, or condition of the Property or any portion thereof, or
suitability of the Property or any portion thereof for Buyer’s purposes, or
fitness for any use or purpose whatsoever, or the quality, nature and adequacy
of the physical condition of the Property, including, without limitation, the
quality of the design, labor and materials used to construct the improvements
included in the Property; the condition of structural elements, foundations,
roofs, glass, mechanical, plumbing, electrical, HVAC, sewage, and utility
components and systems; the capacity or availability of sewer, water, or other
utilities; (l) the compliance of the Property with applicable building
codes, fire codes, land use or access laws or ordinances including, without
limitation, the Americans with Disabilities Act (and the local equivalent
thereof) or any similar Laws, including Environmental Laws; (m) enforceability
of any Lease or Contract; (n) whether Seller will continue to own or
operate any hospital adjacent to or in proximity to the Property; (o) the
square footage or leaseable area of the Improvements; or (p) the
creditworthiness of any tenant under any of the tenant Leases.  The disclaimer expressed in this Section 5.1.8
shall survive Closing.

 

5.2           Seller’s Covenants.  Seller hereby covenants and agrees that:

 

5.2.1        After the expiration of the
Inspection Period, Seller will not enter into, modify or terminate any
Contracts binding upon Buyer without Buyer’s prior written approval, which
approval shall not be unreasonably withheld and, except as specified below,
shall be deemed given if Buyer fails to approve or disapprove any proposed
contract in writing within three (3) business days following Seller’s
request for such action provided that
Seller may enter into contract or agreements cancelable by Buyer upon thirty
(30) days’ written notice without penalty or premium following Closing without
Buyer’s approval and provided, further, that
the foregoing approval requirement shall not apply to contracts or agreements
necessary or appropriate to deal with emergencies, acts of God or other
unforeseeable events;

 

13

 

5.2.2                        After the
expiration of the Inspection Period, Seller will not enter into, materially
modify or terminate any Leases without Buyer’s prior written approval, which
approval shall not be unreasonably withheld and shall be deemed given if Buyer
fails to approve or disapprove any proposed Lease in writing within five (5) business
days following Buyer’s receipt of the Lease and all other documents or
information, including the cost to the landlord of any leasing commissions
and/or tenant improvements or other tenant concessions pertaining thereto; provided that, Buyer’s consent shall not be required for (i) the
renewal or extension of any existing Lease by Seller in accordance with the
terms of such Lease, or (ii) the execution by Seller of any new Lease which
(a) contains business terms that are consistent with the terms set forth
on Schedule 5.2.2 attached hereto, and (b) is prepared on Seller’s
customary form of space lease. Seller agrees to provide Buyer with a copy of
any such Lease after the same has been fully executed. Notwithstanding anything
to the contrary contained in this Agreement, Seller reserves the right, but is
not obligated, to institute summary proceedings against tenants or terminate
the Leases as a result of a default by tenants therein prior to the date of
Closing after giving Buyer prior written notice of same.  Seller makes no representations and assumes
no responsibility with respect to the continued occupancy of the Property or
any part thereof by any tenants.  The
removal of the defaulting tenants whether by summary proceedings or otherwise
prior to the date of Closing shall not give rise to any claim on the part of
Buyer. Further, Buyer agrees that it shall not be grounds for Buyer’s refusal
to close this transaction that a tenant may be a holdover tenant or in default
under its Lease on the date of Closing and Buyer shall accept title subject to
such holding over or default without credit against, or reduction of, the
Purchase Price; and

 

5.2.3                        During the
Contract Period, Seller shall maintain insurance on the Real Property at the
same coverages and levels as are in effect as of the date of this Agreement.

 

5.3                                 Buyer’s
Warranties and Representations.  Buyer hereby represents and warrants to
Seller as follows, each of such representations and warranties to survive
Closing:

 

5.3.1                        Buyer and any
entity to which Buyer may assign this Agreement pursuant to Section 10.3
have, and as of the Closing Date shall have, full power and lawful authority to
enter into and carry out the terms and conditions of this Agreement and to
execute and deliver all documents which are contemplated by this
Agreement.  Buyer and any entity to which
Buyer may assign this Agreement pursuant to Section 10.3 have taken
all action necessary to confer such power and authority upon the persons
executing this Agreement and all documents which are contemplated by this
Agreement on behalf of Buyer or such entity;

 

5.3.2                        Buyer and any
entity to which Buyer may assign this Agreement pursuant to Section 10.3
is, and as of the Closing Date shall be, duly organized, validly existing and
in good standing under the laws of the state of its formation and the states in
which the Property is located.  Buyer has
sufficient funds available to consummate the transaction contemplated in this
Agreement.  The execution and performance
of this Agreement will not violate any law or regulation to which Buyer is
subject.  No

 

14

 

authorizations or approvals,
whether of governmental bodies or otherwise, will be necessary to enable Buyer
to enter into or to comply with the terms of this Agreement;

 

5.3.3                        Buyer has no
knowledge of any breach of any representation or warranty by Seller or of any
other information, condition or circumstance that would excuse Buyer from its
timely performance of its obligations hereunder.  If before the Closing Date Buyer discovers
any such breach, information, condition or circumstance that would excuse Buyer
from its timely performance of its obligations hereunder, Buyer shall promptly
notify Seller of such breach, information, condition or circumstance;

 

5.3.4                        Buyer is
experienced in and has engaged consultants and representatives who are
experienced in the purchase of real estate, that Buyer and its consultants and
representatives are familiar with the acquisition and ownership of real estate
of the same type as the property, and that Buyer is acquiring the property “AS
IS”, “WHERE IS” and “WITH ALL FAULTS AND NONCOMPLIANCE WITH THE LAWS” as of the
Closing Date without any representation or warranty regarding its condition,
fitness for any particular purpose, merchantability, or compliance with
governmental laws, ordinances or regulations, or with any other warranty,
express or implied by law or otherwise;

 

5.3.5                        During the
Inspection Period, Buyer has had the opportunity to make all inspections and
investigations of the Property that Buyer deems necessary or desirable to
protect its interests in acquiring the Property including, without limitation,
environmental audits and assessments, toxic reports, soils and geologic
reports, engineering and structural tests, surveys, investigation of land use
and development rights, development restrictions and conditions that are
imposed by governmental entities, insurance contracts, governmental agreements
and approvals, architectural plans and site plans, and Buyer is purchasing the
Property based on Buyer’s independent investigation and inspection of the
Property and Improvements, and Buyer’s independent evaluation of all materials,
documents or other items that Buyer has the right and opportunity to evaluate,
including applicable statutes, ordinances, governmental regulations and other
laws which shall be completed before the expiration of the deadlines identified
in this Agreement; and

 

5.3.6                        Buyer is not a
person or entity with whom United States persons or entities are restricted
from doing business under regulations of OFAC (including those named on OFAC’s
Specially Designated and Blocked Persons list), or under any statute, executive
order (including the September 24, 2002, Executive Order Blocking Property
and Prohibiting Transactions With Persons Who Commit, Threaten to Commit or
Support Terrorism) or other governmental action and is not and will not
knowingly engage in any dealing or transaction with such persons or entities.

 

5.4                                 Survival.  The parties agree that Seller’s warranties
and representations contained in this Agreement and in any document (including
any certificate) executed by Seller pursuant to this Agreement, but excluding
any Ground Lease, shall survive Buyer’s purchase of the Property for a period
of one hundred eighty (180) days following the Closing Date (the “Survival
Period”).  Buyer shall provide actual
written notice to Seller of any breach of such warranties or representations
and shall allow Seller thirty (30) days (and an adjournment of Closing if

 

15

 

necessary) within which to cure such breach, or, if
such breach cannot reasonably be cured within thirty (30) days, an additional
reasonable time period, so long as such cure has been commenced within such
thirty (30) days and diligently pursued. 
If Seller is unable to cure a breach prior to the Closing Date, then Buyer’s
sole and exclusive remedy shall be to either (a) terminate this Agreement,
subject, however, to the provisions of Section 3.5; or (b) waive
such breach and proceed to Closing. If a breach occurs subsequent to Closing
and Seller fails to cure such breach after actual written notice and within
such cure period, Buyer shall have all remedies available to it at law or in
equity, subject to the provisions of Section 8.5. As and to the
extent that (x) Buyer obtains actual knowledge of facts, or (y) any
documents with respect to the Leases, the matters addressed in Section 5.1
or the certifications made at Closing in the Rent Roll contain information or
facts, that (i) are inconsistent with or different from the
representations and warranties made in Section 5.1 or the
certifications made at Closing in the Rent Roll, (ii) are received by
Buyer or received by Seller and delivered to Buyer prior to the Closing, and (iii) Buyer
elects to proceed to Closing and the Closing occurs, then the representations
and warranties in Section 5.1 and/or the certifications made at
Closing in the Rent Roll shall be deemed to be modified and/or superseded by
such facts, certificates or other documents (and, in such event, Seller shall
no longer have any liability hereunder with respect to the portion of the
representation, warranty or certification superseded herein, as applicable).

 

5.5                                 Leases.  Seller may, but is not obligated to,
institute summary proceedings against tenants or terminate the Leases as a
result of a default by tenants therein prior to the date of Closing, subject to
Buyer’s prior written consent, which shall not be unreasonably withheld,
conditioned or delayed. Seller makes no representations and assumes no
responsibility with respect to the continued occupancy of the Property or any
part thereof by any tenants under the Leases. The removal of the defaulting
tenants whether by summary proceedings or otherwise prior to the date of
Closing shall not give rise to any claim on the part of Buyer. Further, Buyer
agrees that it shall not be grounds for Buyer’s refusal to close this
transaction that a tenant may be a holdover tenant or in default under its
Lease on the date of Closing and Buyer shall accept title subject to such
holding over or default without credit against, or reduction of, the Purchase
Price.

 

ARTICLE 6

 

CLOSING

 

6.1                                 Closing.  The parties shall consummate the purchase and
sale contemplated by this Agreement and deliver the Purchase Price and all
instruments of conveyance in the offices of the Title Company or its agent on
the Closing Date. The parties also shall deposit with the Escrow Holder or with
its agent the funds and documents described below.

 

6.2                                 Deposits by
Buyer.  Buyer shall deliver to Seller:

 

6.2.1                        the Purchase
Price as provided in Section 2.2 above, plus sufficient cash to pay
Buyer’s share of all closing costs, prorations and closing expenses as set
forth in Section 6.5 and Section 6.6 below;

 

16

 

6.2.2                        a duly executed
and acknowledged Ground Lease, one for each Project other than the Fee Project;

 

6.2.3                        a duly executed
counterpart copy of an assumption of Seller’s interests in and obligations with
respect to the Personal Property and the Intangible Property in the form
attached to this Agreement as Exhibit “C” for each Project (the “General
Assignment and Assumption”);

 

6.2.4                        a duly executed
counterpart copy of an assumption of Seller’s interests in the Leases in the
form attached to this Agreement as Exhibit “E” for each Project
other than the Fee Project (the “Assignment
and Assumption of Leases”);

 

6.2.5                        a duly executed
release of claims against Seller in the form attached to this Agreement as Exhibit “F”
for each Project (the “Buyer’s Release”);

 

6.2.6                        a duly executed
Closing Statement (as hereafter defined); and

 

6.2.7                        a certified
copy of a resolution of Buyer authorizing the purchase of the Property
hereunder, and such other documents as Seller or Title Company may reasonably
request evidencing Buyer’s existence, power and authority to enter into and
execute this Agreement and to consummate the transaction herein contemplated.

 

6.3                                 Deposits by
Seller.  Seller shall deliver to Buyer:

 

6.3.1                        a duly executed
Ground Lease, one for each Project other than the Fee Project, and an executed
and acknowledged Memorandum of Lease, one for each Project other than the Fee
Project, in recordable form;

 

6.3.2                        a duly executed
and acknowledged Bill of Sale for the Improvements, one for each Project other
than the Fee Project in the form attached to this Agreement as Exhibit “I”
(the “Bill of Sale”);

 

6.3.3                        a duly executed
and acknowledged Special Warranty Deed (the “Deed”) for the Fee Project,
in the form attached hereto as Exhibit “K”;

 

6.3.4                        a duly executed
counterpart copy of the General Assignment and Assumption for each Project;

 

6.3.5                        a certificate
from each Seller certifying the information required by Section 1445 of
the Internal Revenue Code and the regulations issued thereunder to establish,
for the purposes of avoiding Buyer’s tax withholding obligations, that Seller
is not a “foreign person” as defined in Internal Revenue Code 1445(f) and
in said regulations, which certificate shall be in the form attached to this
Agreement as Exhibit “D” (the “FIRPTA  Certificate”);

 

6.3.6                        a duly executed
counterpart copy of the Assignment and Assumption of Leases for each Project
other than the Fee Project;

 

17

 

6.3.7                        a duly executed
Closing Statement;

 

6.3.8                        an owner’s
affidavit for each Project in the form attached hereto as Exhibit “G”
sufficient to allow the Title Company to issue the Title Policy dated effective
as of the Closing Date (the “Seller’s Affidavit”);

 

6.3.9                        a duly executed
and acknowledged Declaration of Easements, Covenants, Conditions and
Restrictions (the “REA”) for each Project and the applicable adjacent
hospital campus, in the form attached hereto as Exhibit “J”; and

 

6.3.10                  an updated Rent Roll
certified by the Seller to be true and correct in all material respects as of
the Closing Date.

 

6.4                                 Title Company’s
Duties and Closing.  The Title
Company shall close the transaction contemplated by this Agreement on the
Closing Date by:

 

6.4.1                        Recording all
documents as may be necessary to convey title in accordance with the
requirements of this Agreement;

 

6.4.2                        Recording the
Memorandum of Lease, the Bills of Sale, the Deed and the REAs;

 

6.4.3                        Paying all
closing costs and making all prorations in accordance with Sections 6.5 and
6.6 of this Agreement and a separate closing statement of adjustments and
prorations with respect to the Real Property prepared by Seller and approved by
Buyer prior to the Closing Date (the “Closing Statement”);

 

6.4.4                        Delivering to
Buyer: the Title Policy (or a mark-up evidencing the terms of the policy to be
issued); the Closing Statement; a conformed copy of the Bills of Sale, REAs,
Deed, and Memorandum of Lease showing the recording information of each; an
original of each Ground Lease, the General Assignment and Assumption, the
Assignment and Assumption of Leases, and the FIRPTA Certificate; and copies of
all other documents deposited with the Title Company; and

 

6.4.5                        Delivering to
Seller: the Purchase Price, plus or minus closing adjustments and prorations;
the Closing Statement; a conformed copy of the Bills of Sale, REAs, Deed, and
Memorandum of Lease, showing the recording information of each; an original of
each Ground Lease, the General Assignment and Assumption, the Assignment and
Assumption of Leases, and the FIRPTA certificate; and copies of all other
documents delivered to the Title Company.

 

6.5                                 Closing Costs.   Seller shall pay any brokerage fees due to
Broker in accordance with the terms of Seller’s written agreements with
Broker.  Buyer shall pay (a) all
title insurance search and examination fees and the base title insurance
premium for the Title Policy, (b) the cost of any title endorsements and
affirmative insurance required by Buyer, (c) the cost of any update to the
Survey, (d) all recording charges payable in connection with the recording
of the Deed, Bills of Sale, REAs, Memorandum of Lease and any other documents
recorded in connection with the Closing, including all costs, fees and taxes in
connection with any financing

 

18

 

obtained by Buyer, (e) any sales or use taxes
relating to the transfer of any personal property to Buyer, and (f) all
fees, costs or expenses in connection with Buyer’s due diligence reviews under
this Agreement, Seller shall pay (a) all documentary stamp taxes (and
surtaxes) payable in connection with the transactions contemplated herein, and (b) the
cost to prepare the Survey (excluding the cost of any update to the Survey).
Any other closing costs not described above in this Section shall be
allocated in accordance with local custom based on where the applicable portion
of the Property is located. Except as expressly provided in the indemnities set
forth in this Agreement, Seller and Buyer shall pay their respective legal,
consulting and other professional fees and expenses incurred in connection with
this Agreement and the transaction contemplated hereby and their respective
shares of prorations as hereinafter provided. The provisions of this Section 6.5
shall survive the Closing or termination of this Agreement.

 

6.6                                 Prorations.

 

6.6.1                        Except as
provided in this Section 6.6.1, real property taxes and
assessments, personal property taxes (if any), rent (which term, as used in
this Agreement, includes, without limitation, operating expenses and common
area maintenance charges, insurance, utilities, real estate tax and other assessment
reimbursements, and parking fees) for the month in which Closing occurs and any
rent prepaid under any Lease, and all other items of income and expense with
respect to the Property, shall be prorated between Seller and Buyer through the
Closing Date, based upon a rent roll delivered by Seller to Buyer and the Title
Company prior to the Closing Date.  In
the event Buyer has the right to be reimbursed by the tenants of the Property
for real property taxes or other items customarily prorated upon sale and Seller
has not previously collected monthly estimates for such amounts, then such
items shall not be prorated at Closing. 
In addition to the Purchase Price, Buyer shall pay Seller an amount
equal to any refundable deposits and/or bonds held by any utility, governmental
agency or service contractor with respect to the Property, provided
that such utility, agency or contractor is obligated to refund the
deposit to Buyer, rather than to Seller, following the Closing.  Any rent collected by Buyer after the Closing
Date shall be applied first to pay any rent then due and owing for the calendar
month in which the Closing occurs, next, to any period subsequent to the
Closing Date, and then to pay any rent owing for any period prior to the month
of the Closing.  Buyer shall remit such
amounts due Seller to Seller immediately upon receipt.  Except as specified above, if either Buyer or
Seller receives any revenues attributable to the period during which it is not
the owner of the Property, said party shall promptly forward such amounts to
the other party (if such revenues are only partially attributable to the period
during which said party is not the owner of the Property, the amount paid to
the other party shall be based upon proration as of the Closing Date as set forth
above).  Buyer shall use reasonable
efforts, at no expense to Buyer, to collect and assist Seller in collecting any
revenue which is owed to Seller as of the Closing Date or which comes due
thereafter. Seller shall have the right to sue or otherwise attempt to collect
the same from any such tenant (which right shall survive the Closing), and
Buyer agrees to cooperate with Seller in connection with such efforts by
Seller.  Buyer’s obligations under this Section 6.6.1
shall survive the Closing and shall bind its successors in interest.

 

19

 

6.6.2                        Buyer and
Seller shall cooperate to produce on or before the Closing Date a schedule of
prorations which is as complete and accurate as reasonably possible.  All prorations which can be reasonably
estimated as of the Closing Date shall be made on the Closing Date.  All other prorations and any adjustments to
initial estimated prorations shall be made by Buyer and Seller within sixty
(60) days following the Closing Date or such later time as may be required, but
not later than December 31, 2010, in the exercise of due diligence, to
obtain the necessary information for proration. 
Any net credit due one party from the other as a result of such
post-closing prorations and adjustments shall be paid to the other in cash
immediately upon the parties’ written agreement to a final schedule of
post-closing adjustments and prorations.

 

6.6.3                        Real estate
taxes and personal property taxes on the Property shall be prorated based upon
the payment period (i.e., calendar or other tax fiscal year) to which same are
attributable with maximum discount taken, regardless of whether or not any such
taxes are then due and payable or are a lien. Seller shall pay at or prior to
Closing (or Buyer shall receive credit for) any unpaid taxes attributable to
periods prior to the date of Closing (whether or not then due and payable or a
lien as aforesaid). Seller shall receive credit for any previously paid or
prepaid taxes attributable to periods from and after the date of Closing. In
the event that as of the date of Closing the actual tax bills for the tax year
or years in question are not available and the amount of taxes to be prorated
as aforesaid cannot be ascertained, then rates, millages and assessed valuation
of the previous year, taking into account all applicable discounts for early
payment, shall be used for purposes of the proration at Closing. If the
proration at Closing is based on the taxes for the previous year as described
above, the parties agree to re-prorate the applicable real estate taxes and
personal property taxes for the year of Closing based on the actual real estate
taxes and personal property taxes (with maximum discount) once the bills are
available.

 

6.6.4                        Certified liens
levied by any governmental authority against the Property as of the Closing
Date shall be paid by the Seller. Pending liens as of the Closing Date shall be
assumed by the Buyer; provided, however, that if the improvement for which any
such pending lien was levied was substantially completed as of the Closing
Date, such pending lien shall be treated as a certified lien and paid by
Seller. Notwithstanding the foregoing, if any assessment or lien is payable
under the real estate tax bill(s) for the Property on an installment
payment basis, the parties agree that Seller shall be responsible for payment
of those installments which accrue prior to the year of Closing, Buyer shall be
responsible for payment of those installments which accrue subsequent to the
year of Closing, and the parties shall prorate the installment which is due for
the year of the Closing.

 

6.6.5                        Notwithstanding
the terms of Section 6.6.1, common area maintenance expenses and
charges under the Leases for the year of Closing, if any, shall be prorated as
set forth in this Section 6.5. 
Seller shall be responsible for all common area maintenance expenses and
charges incurred prior to Closing, and Buyer shall be responsible for the same
subsequent to Closing. All common area maintenance expense payments made by
each tenant and such charges paid under its Lease for the entire lease year
during which the Closing occurs, including end-of-year adjustments, if any,
shall be prorated between

 

20

 

Seller and Buyer in the
following manner: Not later than sixty (60) days after Closing, Seller shall
deliver to Buyer, with regard to each tenant required to pay common area
maintenance expenses and charges (“CAM Charges”) under its Lease, a
detailed computation showing all CAM Charge expenses incurred by Seller for the
period from January 1 of the year of Closing through the Closing Date, any
CAM payments received by Seller relating to such tenant, and, as applicable,
either (i) a bill for the tenant’s prorata share of CAM Charges (i.e., for
CAM charges through the Closing Date net of any such CAM payment received by
Seller), together with all invoices and other evidence documenting such CAM
Charges in detail required by such tenant’s Lease, or (ii) a statement
setting forth any amounts owed to the tenant for such period with a payment
equal to such amount to be provided by Seller to Buyer not later than thirty
(30) days thereafter (the “Overpayment Amount”). Buyer shall, on or
before March 31 of the year immediately following the Closing, incorporate
any bills delivered by Seller into a single post-closing (as and when
appropriate for annual reconciliation or other billing of CAM Charges for any
tenant) bill for CAM Charges to such tenant, in which event such single bill,
as and when paid, shall be apportioned between Seller and Buyer based on the
ratio of pre- and post-Closing CAM expenses (taking into account any CAM
payments retained by Seller at Closing). Upon Buyer’s receipt of any
Overpayment Amount from Seller, Buyer shall promptly turn over the same to the
tenant(s) entitled to such Overpayment Amount.  Notwithstanding anything to the contrary set
forth herein, Buyer agrees that (a) for the period from the date of
Closing until the second (2nd) anniversary thereof, the rents payable under any
renewal or extension of any Leases existing as of the Closing, which is not
pursuant to an express renewal or extension right in the Lease, shall be at the
then fair market value rent, and any increases in base/minimum annual rent
shall not increase by more than three and one-half percent (3.50%) in any year
(the “3.5% Cap”), unless Buyer can demonstrate to Seller, in Seller’s
reasonable discretion, that such 3.50% Cap on annual increases is below the
then fair market rent for the applicable leased space; provided, however, that
the 3.5% Cap will not apply with respect to rent concessions as an inducement
to entering into the renewal or extension of such Lease or rent which
specifically represents amortization of a tenant improvement allowance under
the renewal or extension of such Lease; and (b) in no event will the costs
of repair and maintenance of those items listed on Schedule 6.6.5  be passed on or passed through to tenants
under any Leases or New Leases (as defined below), and the respective Ground
Leases shall provide for the applicable ground lessee thereunder to perform
such repair and maintenance, as applicable, at the sole cost and expense of
such ground lessee.

 

6.6.6                        Buyer will
receive at Closing a credit against the Purchase Price equal to all security
deposits actually held by Seller under the Leases.

 

6.6.7                        For any new
leases or extensions or amendments to any existing Leases or any Lease which is
extended pursuant to any exercise by the tenant of an option in such Lease
after September 30, 2009 (each of the foregoing being referred to as a “New
Lease”), including, without limitation, those New Leases described on Schedule
6.6.7, at Closing Buyer shall reimburse Seller, in cash, for (1) all
tenant improvement costs and expenses incurred by Seller for repairs,
improvements, equipment, painting, decorating, partitioning, carpeting, and
other work performed in the tenant’s space to satisfy a tenant’s requirements
with respect to or in connection with any New Lease including,

 

21

 

without limitation, any
reimbursements paid to the tenant in connection with any such work performed by
the tenant (collectively, the “TI Expenditures”), to the extent that
such TI Expenditures have been paid by Seller as of the date of Closing, and (2) all
leasing costs and expenses, including, without limitation, leasing or brokerage
commissions payable to any person or entity, incurred by Seller in connection
with a New Lease (collectively, the “Leasing Expenditures”), to the
extent such Leasing Expenditures have been paid by Seller as of the date of
Closing.  With respect to Leasing
Expenditures and TI Expenditures, Buyer shall assume liability for the same at
Closing and shall indemnify the Released Parties (as defined herein) from and
against any claims made in connection with Leasing Expenditures and TI
Expenditures. Notwithstanding the foregoing, Seller agrees that Buyer will be
entitled to a credit at Closing against the Leasing Expenditures and TI
Expenditures due from Buyer to Seller in an amount equal to the applicable
Leasing Expenditure or TI Expenditure, multiplied by a fraction, the numerator
of which is the number of months under the applicable lease for the period from
the date of the commencement of the term of such New Lease or the date of the
commencement of the extension or amendment of such Lease (if an existing Lease)
until the date of Closing, and the denominator of which is the total number of
months in the term of such New Lease or extension or amendment of an existing
Lease.

 

6.6.8                        The provisions
of this Section 6.6 shall survive the Closing.

 

6.7                                 Insurance.  Seller’s existing liability and property
insurance pertaining to the Property shall be cancelled as of the Closing Date,
and Seller shall receive any premium refund due thereon.

 

6.8                                 Delivery of
Original Documents.  Seller
agrees to deliver to Buyer on or immediately following the Closing Date all
original Leases, and copies of Seller’s entire Lease file (excluding any attorney
client communications or other confidential materials), Contracts, plans and
specifications, plot plans, surveys, soils reports, Permits, Lease
applications, books and records and other original documents in Seller’s
possession pertaining to the Property (excluding any proprietary or
confidential materials).

 

6.9                                 Filing of
Reports.  The Title Company shall be
solely responsible for the timely filing of any reports or returns required
pursuant to the provisions of Section 6045(e) of the Internal Revenue
Code of 1986 (and any similar reports or returns required under any state or
local laws) in connection with the closing of the transaction contemplated in
this Agreement.

 

ARTICLE 7

 

DAMAGE OR DESTRUCTION;
CONDEMNATION

 

7.1                                 Contract Period
Damage.  Buyer shall not be bound to
purchase the Property as required by the terms of this Agreement if, during the
Contract Period, there occurs any Material Damage to or destruction of the
improvements located on the Real Property (“Contract Period Damage”).  Immediately upon the occurrence of any
Contract Period Damage, Seller shall notify Buyer in writing of the nature and
extent of such Contract Period Damage. 
For the purposes of this Section 7.1, “Material Damage”
shall mean damage to the Project of such nature that the

 

22

 

cost of restoring the same to its condition prior to
the casualty (as determined in accordance with this Article 7) will
exceed five percent (5%) of the Purchase Price, whether or not such damage is
covered by insurance.  If the
Improvements have sustained Material Damage by a Casualty, Seller may, at its
option, by delivering written notice (the “Seller Notice”) to Buyer
within fifteen (15) days after (1) becoming aware of a casualty loss, or (2) determination
that Material Damage has occurred, whichever is later, either (x) elect to
terminate this Agreement in its entirety, whereupon the Deposit shall be
returned to the Buyer, and neither Seller nor Buyer shall have any further
rights or obligations hereunder except for such rights and obligations as
expressly survive termination of this Agreement; or (y) advise Buyer the
terms on which Seller is willing to proceed with consummation of the
transactions described herein, which at Seller’s sole option, may be to (i) repair
or replace the damaged Property at its sole cost and expense before the Closing
Date; provided, further, the Closing may be
adjourned by Seller for up to sixty (60) days for Seller to complete such
repair or replacement; (ii) allow Buyer to reduce the Purchase Price by
the cost of repairing the damage, as determined by Seller’s contractor and
approved by Seller, or (iii) such other terms on which Seller is willing
to proceed. If Seller fails to timely notify Buyer, Seller shall be deemed to
have elected (x) above.  If the
Seller Notice does not terminate this Agreement as provided in the preceding
sentence, Buyer may, at its option, by delivering written notice to Seller
within fifteen (15) days after receipt of the Seller Notice, either: (x) terminate
this Agreement in its entirety, whereupon the Deposit shall be returned to the
Buyer, and neither Seller nor Buyer shall have any further rights or
obligations hereunder except for such rights and obligations as expressly
survive termination of this Agreement; or (y) elect to proceed to Closing
on the terms outlined in Seller’s Notice.

 

7.2                                 Business
Interruption and Rental Loss Insurance.  In no event shall Buyer be entitled to the
insurance proceeds related to a Casualty or Material Event, if any; provided to
the extent of a Material Event occurs and does not result in a termination of
this Agreement, Buyer shall be entitled to an assignment of or be credited with
the amount of the business interruption or rental loss insurance proceeds, if
any, allocable to the period from and after the Closing Date.  Notwithstanding anything in this Agreement to
the contrary, the insurance proceeds to be credited or delivered to Buyer
pursuant to this Agreement shall exclude business interruption or rental loss
insurance proceeds, if any, allocable to the period through the Closing Date,
which proceeds shall be retained by Seller. Buyer approval shall not be
required in connection with Seller’s settlement of any insurance claims made by
Seller.

 

7.3                                 Damage That is
Not Material Damage.  If, prior
to the Closing, the Property or any part thereof is damaged and the damage is
not Material Damage, Seller shall, at Seller’s election (i) repair or
replace the damaged Property at its sole cost and expense before the Closing
Date; provided, further, the Closing may be
adjourned by Seller for up to sixty (60) days for Seller to complete such
repair or replacement; or (ii) allow Buyer to reduce the Purchase Price by
the cost of repairing the damage, determined in accordance with this Article 7.

 

7.4                                 Condemnation.  If, prior to Closing, any governmental
authority or other entity having condemnation authority shall institute an
eminent domain proceeding or take any steps preliminary thereto (including the
giving of any direct or indirect notice of intent to institute such
proceedings) with regard to a Material Portion (hereinafter defined) of any one
of the Projects, and the same is not dismissed on or before thirty (30) days
prior to Closing, Buyer shall be entitled, as its sole remedy, upon written
notice to Seller (a) within fifteen (15) days following

 

23

 

notice by Seller to Buyer of such condemnation, or (b) on
the Closing Date, whichever occurs first, to either: (x) terminate this
Agreement in its entirety, whereupon the Deposit shall be returned to Buyer,
and neither Seller nor Buyer shall have any further rights or obligations
hereunder except for such rights and obligations as expressly survive
termination of this Agreement; or (y) elect to have the Project remain
part of the Property to be conveyed pursuant to this Agreement.  The Closing Date shall be extended as
necessary (but not to exceed thirty (30) days) for Buyer to have the time
provided under the previous sentence to make said election.  For purposes of this Section 7.4,
a “Material Portion” shall mean that portion of the Project which, if
taken or condemned, would (i) eliminate or materially adversely impact
access to any portion of the Project to which access is available as of the
date of this Agreement; (ii) cause any material non-compliance with any
Applicable Laws; or (iii) materially adversely impair the use of the
Project for the purpose for which it is presently being operated.  If Buyer does not have or waives (or is
deemed to have waived) the right to terminate this Agreement as a result of
such a condemnation, then, despite such condemnation, Seller and Buyer shall
close this Agreement in accordance with the terms hereof with no reduction in
the Purchase Price, and Seller shall assign to Buyer at the Closing all of
Seller’s right, title and interest in and to all proceeds resulting or to
result from said condemnation.

 

ARTICLE 8

 

REMEDIES

 

8.1                                 Remedies.  In the event Buyer is in default hereunder,
Seller’s sole remedy shall be to terminate this Agreement by written notice to
Buyer and to retain the Deposit as described in Section 8.2.  In the event Seller is in default hereunder,
Buyer’s sole and exclusive remedy shall be to either: (i) terminate this
Agreement by written notice to Seller and to receive a return of the Deposit;
or (ii) Buyer may demand specific performance of Seller’s obligations
under this Agreement provided that if
Buyer elects to demand specific performance Buyer must institute suit for
specific performance in a court of competent jurisdiction within ninety (90)
days of Seller’s default under this Agreement or Buyer shall be deemed to have
elected to proceed under (i) above.

 

8.2                                 Liquidated
Damages.  BUYER AND SELLER ACKNOWLEDGE
AND AGREE THAT THEY HAVE MADE A REASONABLE ENDEAVOR TO ESTIMATE THE ACTUAL
DAMAGES SELLER WOULD SUSTAIN AS A RESULT OF THE BUYER’S DEFAULT.  HOWEVER, THE PROSPECTIVE IMPRACTICABILITY AND
EXTREME DIFFICULTY OF FIXING ACTUAL DAMAGES HAS REQUIRED THE PARTIES TO ATTEMPT
TO LIQUIDATE SELLER’S DAMAGES IN THE EVENT OF BUYER’S DEFAULT, SINCE SELLER’S
DAMAGES WILL RESULT FROM, AMONG OTHER THINGS, MARKET FLUCTUATION, THE COSTS AND
EXPENSES OF THIS TRANSACTION (INCLUDING, WITHOUT LIMITATION, LEGAL AND OTHER
EXPENSES INCURRED IN CONNECTION WITH THIS AGREEMENT AND PREPARING FOR THE
CLOSING), AND LOSSES WHICH WOULD RESULT FROM SELLER HAVING REMOVED THE PROPERTY
FROM THE MARKET FOR ANY LENGTH OF TIME. 
THUS, BECAUSE IT WOULD BE IMPRACTICAL OR EXTREMELY DIFFICULT TO
DETERMINE ACTUAL DAMAGES IN THE EVENT OF BUYER’S DEFAULT UNDER THIS AGREEMENT,
AND TAKING INTO ACCOUNT ALL OF THE CIRCUMSTANCES EXISTING ON THE DATE

 

24

 

OF THIS AGREEMENT, SELLER AND BUYER HAVE DETERMINED
THAT THE DEPOSIT IS A REASONABLE ESTIMATE OF SELLER’S ACTUAL DAMAGES IN SUCH
EVENT.  CONSEQUENTLY, IN THE EVENT
OF BUYER’S DEFAULT UNDER THIS AGREEMENT, AS PROVIDED IN SECTION 8.1,
SELLER’S SOLE AND EXCLUSIVE REMEDY SHALL BE TO TERMINATE THIS AGREEMENT AND TO
RETAIN THE DEPOSIT, PLUS ALL ACCRUED INTEREST THEREON.  UPON PAYMENT OF SAID SUMS BUYER SHALL BE
RELEASED FROM ANY FURTHER LIABILITY UNDER THIS AGREEMENT, EXCEPT FOR
OBLIGATIONS THAT EXPRESSLY SURVIVE THE TERMINATION OF THIS AGREEMENT AND EXCEPT
THAT THE FOREGOING SHALL NOT LIMIT (A) THE OBLIGATIONS TO PAY TO THE OTHER
ALL ATTORNEYS’ FEES AND COSTS INCURRED TO ENFORCE THE PROVISIONS OF THIS SECTION 8.2
AND/OR INDEMNITY OBLIGATIONS UNDER SECTION 3.2 OR SECTION 10.1
OR ELSEWHERE IN THIS AGREEMENT, OR (B) THE ABILITY AND RIGHT OF A PARTY TO
ENFORCE SUCH INDEMNITIES.  THE PAYMENT OF
THE DEPOSIT (INCLUDING ALL INTEREST EARNED THEREON) TO SELLER IS INTENDED TO
CONSTITUTE LIQUIDATED DAMAGES TO SELLER AND SHALL NOT BE DEEMED TO CONSTITUTE A
FORFEITURE OR PENALTY.

 

8.3                                 No Personal
Liability; Several Liability.  Each Seller shall be severally liable (as
opposed to jointly and severally liable) for the obligations under or arising
out of this Agreement and each Seller’s liability shall be limited to matters
related to the Property being transferred by such Seller.  In no event shall any member, officer,
director, employee, agent or attorney of Seller or Buyer be personally liable
for any obligations of Seller or Buyer under this Agreement.

 

8.4                                 Release.  Effective as of the Closing Date, and except
as to Seller’s obligations, representations, warranties and covenants under
this Agreement and the closing documents delivered by Seller to Buyer pursuant
to the terms and conditions of this Agreement, Buyer, on its own behalf and on
behalf of its trustees, officers, employees, other Affiliates, agents,
attorneys, representatives, successors and assigns (collectively, “Releasing
Parties”) hereby agrees that each of Tenet Healthcare Corporation, each
Seller and each Seller’s directors, officers, employees, other Affiliates,
agents, attorneys, representatives, successors and assigns (collectively, “Released  Parties”) shall be fully and forever released and
discharged from any and all liabilities, losses, claims (including third party
claims), demands, damages of any nature whatsoever, causes of action, costs,
penalties, fines, judgments, attorneys’ fees, consultants’ fees and costs and
experts’ fees (collectively, “Claims”), whether direct or indirect,
known or unknown, foreseen or unforeseen, that may arise on account of or in
any way be connected with the Property including, without limitation, the
physical, environmental and structural condition of the Property or any law or
regulation applicable thereto, including, without limitation, any Claim or
matter (regardless of when it first appeared or appears) relating to or arising
from: (a) the status of title to the leasehold estate in the Real Property
or Seller’s ownership of the Real Property including all matters shown on the
Title Report, the Survey and all matters which would have been shown on an
ALTA/ACSM survey of the Real Property; (b) the presence of any environmental
problems, or the use, presence, storage, release, discharge, migration or
transportation of Hazardous Substances on, in, under, about or to or from the
Property regardless of when such Hazardous Substances were first introduced on,
in, under, about, or transported to or from, the Property; (c) any patent
or latent defects or deficiencies with respect to the Property; (d) the
presence of any mold or microbial agents in the Property; (e) any and all
matters related

 

25

 

to the physical condition of the Property or any
portion thereof, including without limitation, the condition and/or operation
of the Property and each part thereof and specifically including all matters,
conditions, and deficiencies reflected in the Diligence Material; (f) any
defect, default or unenforceability of any Lease, Contract or Permit; (g) geological
or seismic conditions, including, without limitation, subsidence, subsurface
conditions, water table, underground water reservoirs, and limitations
regarding the withdrawal of water therefrom, and faulting; (h) whether or
not and the extent to which the Property or any portion thereof is affected by
any stream (surface or underground), body of water, flood prone area, flood
plain, floodway, or special flood hazard; (i) drainage and soil conditions
of the Property; (j) the existence of or availability of any development
rights; (k) zoning requirements (including any special use permits) to
which the Property or any portion thereof may be subject or the status of
compliance with such requirements; (l) the availability of any utilities
to the Property or any portion thereof including, without limitation, water,
sewage, gas and electricity; (m) usages of any adjoining property; (n) access
to the Property or any portion thereof; (o) the value, compliance with
specifications, size, location, age, use, merchantability, quality,
description, or condition of the Property or any portion thereof, or
suitability of the Property or any portion thereof for Buyer’s purposes, or the
quality, nature and adequacy of the physical condition of the Property,
including, without limitation, the quality of the design, labor and materials
used to construct the improvements included in the Property; the condition of structural
elements, foundations, roofs, glass, mechanical, plumbing, electrical, HVAC,
sewage, and utility components and systems; the capacity or availability of
sewer, water, or other utilities, or fitness for any use or purpose whatsoever;
(p) the compliance of the Property with applicable building codes, fire
codes, land use or access laws or ordinances including, without limitation, the
Americans with Disabilities Act (and the local equivalent thereof) or any
similar Laws, including Environmental Laws; (q) enforceability of any
Lease or Contract; (r) whether Seller will continue to own or operate any
hospital adjacent to or in proximity to the Property, (s) the square
footage or leaseable area of the Improvements and/or the real Property, or (t) the
credit-worthiness of any tenant under any of the tenant Leases.  Buyer hereby waives the right to pursue and
hereby covenants and agrees not to commence any action, legal proceeding, cause
of action or suit in law or equity, of whatever kind or nature, including, but
not limited to, under any Environmental Law, against the Released Parties or
any one of them or their agents in connection with any Claim and agrees to
indemnify, defend and hold the Released Parties harmless of and from any Claim.  In this connection and to the greatest extent
permitted by law, Buyer hereby agrees, represents and warrants that Buyer
realizes and acknowledges that factual matters now unknown to it may have given
or may hereafter give rise to Claims which are presently unknown, unanticipated
and unsuspected, and Buyer further agrees, represents and warrants that the
waivers and releases herein have been negotiated and agreed upon in light of
that realization, that Buyer nevertheless hereby intends to release, discharge
and acquit Released Parties from any such unknown Claims, and that this release
is a material factor in Seller’s negotiation of the Purchase Price and
represents a material portion of the consideration given to Seller by Buyer in
exchange for Seller’s performance hereunder. 
Without limiting the foregoing and notwithstanding anything to the
contrary contained herein, if Buyer has actual knowledge of (i) a default
in any of the covenants, agreements or obligations to be performed by Seller
under this Agreement and/or (ii) any breach or inaccuracy in any
representation of Seller made in this Agreement and/or (iii) any failure
of condition to Buyer’s obligation or close the transaction contemplated by
this Agreement and Buyer nonetheless elects to proceed with the Closing, then,
upon the consummation of the

 

26

 

Closing, Buyer shall be conclusively deemed to have
waived any such default and/or breach or inaccuracy and or failure of condition
and shall have no Claim against Seller or hereunder with respect thereto.

 

8.5                                 Maximum
Aggregate Liability of Seller Post Closing.  Buyer hereby waives and relinquishes any
claims for damages against Seller except as set forth in this Section 8.5.  Unless Buyer shall give Seller written notice
of any alleged breach of any representation or warranty within ninety (90) days
after the earlier of (i) the discovery of the breach by Buyer (or, if
Buyer’s damages on account of such breach do not exceed the Aggregate Minimum
Claim Amount (as defined below), the first date on which Buyer’s damages from
such breach and any other discovered breaches exceeds the Aggregate Minimum
Claim Amount) or (ii) the end of the Survival Period, no alleged breach of
any such representation or warranty may form the basis of an action by Buyer
against Seller for breach of any such representation or warranty.  Any such action must be brought within ninety
(90) days after the end of the Survival Period. 
No action may be brought for the alleged breach of any representation or
warranty actually known by Buyer prior to Closing to be false.  No claim for a breach of one or more Seller’s
representations and warranties shall be actionable unless the valid claims for
all such breaches with respect to the Property as a whole, aggregate at least
$100,000.00 (the “Aggregate Minimum Claim Amount”).  Seller’s maximum aggregate liability for
claims based on breaches of representations and warranties by Seller under this
Agreement shall, under no circumstances, exceed an amount equal to $4,000,000.00;
provided however with respect to claims made with respect to any one Project in
no event shall the aggregate liability of Seller exceed the Purchase Price
allocated to such Project.  This Section shall
survive the Closing for the Survival Period set forth above.

 

	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Buyer’s Initials

  	
   

  	
  Seller’s Initials

  

 

8.6                                 Material
Consideration.  Seller has
given Buyer material concessions regarding this transaction in exchange for
Buyer agreeing to the provisions of Section 8.4 and Section 8.5
and Seller’s acceptance of a sales price in the amount of the Purchase Price
reflects the provisions of Section 8.4 and Section 8.5
so given to Seller by Buyer.  Seller and
Buyer each have initialed  Section 8.4
and Section 8.5 to further indicate their awareness and acceptance
of each and every provision hereof. The provisions of Section 8.4
and Section 8.5 shall survive the Closing and shall not be deemed
merged into any instrument or conveyance delivered at the Closing.

 

8.7                                 Jury Trial
Waiver.  TO THE FULLEST EXTENT NOT
PROHIBITED BY APPLICABLE LAW WHICH CANNOT BE WAIVED, EACH OF THE PARTIES HERETO
HEREBY KNOWINGLY, VOLUNTARILY, INTENTIONALLY AND IRREVOCABLY WAIVES ANY AND ALL
RIGHT TO A TRIAL BY JURY IN ANY ACTION OR PROCEEDING TO ENFORCE OR DEFEND ANY
RIGHT, POWER, REMEDY OR DEFENSE ARISING OUT OF OR RELATED TO THIS AGREEMENT,
WHETHER SOUNDING IN TORT OR CONTRACT OR OTHERWISE, OR WITH RESPECT TO ANY
COURSE OF CONDUCT, COURSE OF DEALING, STATEMENTS (WHETHER VERBAL OR WRITTEN) OR
ACTIONS OF ANY PARTY RELATING TO THIS AGREEMENT, AND AGREES THAT ANY SUCH
ACTION OR PROCEEDING SHALL BE TRIED BEFORE A JUDGE AND NOT BEFORE A JURY.
 EACH OF THE PARTIES HERETO FURTHER

 

27

 

WAIVES ANY RIGHT TO SEEK TO CONSOLIDATE ANY SUCH
LITIGATION IN WHICH A JURY TRIAL HAS BEEN WAIVED WITH ANY OTHER LITIGATION IN
WHICH A JURY TRIAL CANNOT OR HAS NOT BEEN WAIVED.  FURTHER, EACH OF THE PARTIES HERETO HEREBY
CERTIFIES THAT NONE OF ITS REPRESENTATIVES, AGENTS OR ATTORNEYS HAS
REPRESENTED, EXPRESSLY OR OTHERWISE, THAT IT WOULD NOT, IN THE EVENT OF
SUCH LITIGATION, SEEK TO ENFORCE THIS WAIVER OF RIGHT TO JURY TRIAL PROVISION.
 EACH OF THE PARTIES HERETO ACKNOWLEDGES THAT THE PROVISIONS OF THIS
PARAGRAPH ARE A MATERIAL INDUCEMENT TO THE ACCEPTANCE OF THIS AGREEMENT BY THE
OTHER PARTIES HERETO.

 

ARTICLE 9

 

CONFIDENTIALITY

 

9.1                                 Confidentiality.  The
parties recognize and agree that all information, instruments, documents and
details concerning this transaction and the businesses of Seller and Buyer are
strictly confidential, and Seller and Buyer each expressly covenants and agrees
that it will use its best efforts not to, and will use its best efforts not to
allow any of its officers, trustees, directors, employees, agents or
representatives (including consultants and professional advisors) to,
reproduce, distribute or disclose any matters relating to this Agreement,
including its existence, negotiation, terms, provisions or conditions, or
relating to the business of the other (collectively “Confidential Information”)
except for disclosure to consultants and professional advisors which is
reasonably necessary to effectuate the transactions contemplated hereby and
made in a manner consistent with the provisions of this Agreement, provided
such consultants and professional advisors agree not to reproduce, distribute
or disclose the same.  Without limiting
the generality of the foregoing, except as specifically permitted by this Section 9.1,
neither party shall make nor allow any of its officers, trustees, directors,
employees, agents or representatives (including consultants and professional
advisors) to make, any press release or public announcement of the proposed
purchase or sale of the Property or of this Agreement or its contents without
the prior written consent of other party and such other party’s prior approval
of the form and content of the same. 
Notwithstanding the foregoing, each party’s obligations under this Section 9.1
shall not apply to any information or document which is or becomes available to
the public other than as a result of a disclosure by the other party in
violation of this Agreement, or becomes available to the party on a
non-confidential basis from a source other than the other party or its
officers, directors, employees or agents. 
Additionally, notwithstanding the foregoing, either party may disclose the other party’s Confidential
Information to the extent, but only to the extent, that the disclosing party
deems necessary, after the receipt of written advice of outside counsel, to comply
with applicable law or the valid order of a court of competent jurisdiction,
provided that the disclosing party has, to the extent practicable, (a) promptly
informed the other party of the obligation to disclose, and (b) cooperated
with the other party so that the non-disclosing party may seek a protective
order or other appropriate remedy to minimize the scope of the obligatory
disclosure.  The parties’ obligations
under this Section 9.1 shall survive the termination of this
Agreement or the Closing.

 

28

 

ARTICLE 10

 

MISCELLANEOUS

 

10.1                           Sales
Commissions and Finder’s Fees.  Seller shall pay a brokerage fee to Jones
Lang LaSalle (“Broker”) pursuant to a separate agreement between Broker
and Seller if, as, and when the Closing actually takes place and such fees
shall not be due, earned, or payable unless and until the sale of the Property
is actually consummated and the proceeds of the sale due to Seller have
actually been disbursed. Seller hereby agrees to indemnify and defend Buyer
against and to hold Buyer harmless from any and all loss, cost, liability or
expense (including but not limited to attorneys’ fees and returned commissions)
resulting from any claim for a brokerage fee, commission, finder’s fee or other
compensation against Buyer by virtue of the transaction contemplated by this
Agreement by any broker or agent claiming by, through or under Seller. Buyer
hereby agrees to indemnify and defend Seller against and to hold Seller
harmless from any and all loss, cost, liability or expense (including but not
limited to attorneys’ fees and returned commissions) resulting from any claim
for a brokerage fee, commission, finder’s fee or other compensation against
Seller by virtue of the transaction contemplated by this Agreement by any
broker or agent claiming by, through or under Buyer.  The provisions of this Section 10.1
shall survive Closing.

 

10.2                           Amendment and
Waiver.  The parties hereto may by
mutual agreement in writing signed by each party amend this Agreement in any
respect.  In addition, any party hereto
may in writing: (a) extend the time for the performance of any of the acts
or obligations of the other party; (b) waive any inaccuracies in the
representations or warranties of the other party contained in this Agreement or
in any document or certificate delivered pursuant hereto; (c) waive
compliance or performance by the other party with any of the covenants,
agreements or obligations of such party contained in this Agreement; and (d) waive
the satisfaction of any condition that is precedent to the performance by the
party so waiving of any of its obligations under this Agreement.  Any agreement on the part of a party hereto
to any such extension or waiver shall be valid only if set forth in an instrument
in writing signed on behalf of such party. 
A waiver by one party of the performance of any covenant, agreement,
obligation, condition, representation or warranty shall not be construed as a
waiver of any other covenant, agreement, obligation, condition, representation
or warranty.  A waiver by any party of
the performance of any act shall not constitute a waiver of the performance of
any other act or an identical act required to be performed at a later date.

 

10.3                           Assignment. Buyer may not
assign any of its rights or delegate any of its duties under this Agreement
without the prior written consent of Seller, except that Buyer shall have the
right to assign its rights under this Agreement to an Affiliate or to nominate
one or more Affiliates to take title to the Property upon Closing without
Seller’s prior written consent; provided, however,
that Buyer shall give Seller written notice of such assignment or nomination
and Buyer shall not be released from any obligations under this Agreement by
virtue of such assignment. With respect to (i) the Fee Project, and (ii) Project
related to the leasehold at the St. Mary’s Professional Building, located in
West Palm Beach, Florida, Seller agrees to convey both of such Projects to an
Affiliate of Buyer under closing documents separately from the other Projects
provided that (x) Buyer request the same in writing from Seller at least
five (5) business

 

29

 

days prior to the Closing, and (y) Buyer and
Seller have reached a mutual agreement concerning the allocation of the
Purchase Price to both of such Projects.

 

10.4                           Successors and
Assigns.  This Agreement shall inure to
the benefit of and be binding upon the parties hereto and their successors and
permitted assigns, subject to the limitations on Buyer’s assignment of this
Agreement set forth in Section 10.3.

 

10.5                           Notices.  All written notices required to be given
pursuant to the terms hereof shall be either (i) personally delivered, (ii) deposited
in the United States express mail or first class mail, registered or certified,
return receipt requested, postage prepaid, (iii) delivered by overnight
courier service, or (iv) delivered by facsimile or e-mail transmission, provided that the original of such notice is sent by certified
U.S. mail, postage prepaid, no later than one day following such facsimile or
e-mail transmission.  All such notices
shall be deemed delivered upon actual receipt (or upon the first attempt at
delivery pursuant to the methods specified in clauses (i), (ii) or (iii) above
if the intended recipient refuses to accept delivery).  All such notices shall be delivered to the
following addresses, or to such other address as the receiving party may from
time to time specify by written notice to the other party:

 

	
  To Buyer:

   

  Applefield Waxman Capital, Inc.

  2801 PGA Boulevard, Suite 220

  Palm Beach Gardens, FL 33410

  Attn: Brian K. Waxman

  Telephone No.: 561-687-5800

  Fax No.: 561- 689-1255

  E-mail: brian@applefieldwaxman.com

  	
   

  	
  With a copy to:

   

  Scott L. McMullen, Esq.

  Jones, Foster, Johnston & Stubbs, P.A.

  801 Maplewood Drive, Suite 22-A

  Jupiter, FL 33458

  Telephone No.: 561-659-3000

  Fax No.: 561-746-6933

  E-mail: smcmullen@jones-foster.com

  
	
   

  	
   

  	
   

  
	
  To Seller:

   

  c/o Tenet Healthcare Corporation

  Headquarters Office

  1445 Ross Avenue, Suite 1400

  Dallas, Texas 75202

  Attn: Nicholas Bonrepos

  Telephone No.: (469) 893-2210

  Fax No.: (469) 893-3210

  E-mail: nicholas.bonrepos@tenethealth.com

  	
   

  	
  With a copy to:

   

  Tenet Healthcare Corporation

  Headquarters Office

  1445 Ross Avenue, Suite 1400

  Dallas, Texas 75202

  Attn: Timothy D. Blakeley, Senior Counsel

  Telephone No.: (469) 893-2709

  Fax No.: (469) 893-3709

  E-mail: tim.blakeley@tenethealth.com

  

 

10.6                           Time.  Time is of the essence of every provision
contained in this Agreement.

 

10.7                           Possession.  With the exception of the rights of tenants
under the Leases, possession of the Property shall be delivered to Buyer on the
Closing Date, free of the possessory or other leasehold interest of any third
party.

 

30

 

10.8                           Incorporation
by Reference.  All of the
recitals contained herein, and all of the exhibits attached to this Agreement
or referred to herein and all documents in the nature of such exhibits, are by
this reference incorporated in and made a part of this Agreement as though set
forth fully herein.

 

10.9                           Attorneys’ Fees.  In the event any dispute between the parties
hereto should result in arbitration or litigation, or if any action at law or
in equity is taken to enforce or interpret the terms and conditions of this
Agreement, the prevailing party shall (in addition to any other relief to which
that party may be entitled) be reimbursed for all reasonable costs and expenses
incurred in connection with mediation or litigation, including, without limitation,
reasonable attorneys’ fees, accountants’ fees and experts’ fees incurred at
trial and all appellate levels.

 

10.10                     Construction.  The parties acknowledge that each party and
its counsel have reviewed and revised this Agreement and that the normal rule of
construction to the effect that any ambiguities are to be resolved against the
drafting party shall not be employed in the interpretation of this Agreement or
any amendments or exhibits hereto.  If
any provision of this Agreement is held to be invalid by any court having
jurisdiction thereof, the invalidity of such provision shall not affect the
validity or enforceability of the remaining provisions of this Agreement.

 

10.11                     Governing Law.  This Agreement, and all claims of causes of
action (whether in contract or tort) that may be based upon, arise out of or
relate to this Agreement or the negotiation, execution or performance of this
Agreement (including any claim or cause of action based upon, arising out of or
related to any representation or warranty made in or in connection with this
Agreement or as an inducement to enter into this Agreement), shall be governed
by the internal laws of the State of Florida, except to the extent that the law
of a particular state must govern a particular issue because a Project is
located in such state.  In addition, the
conveyance and transfer documents related to a particular Project shall be
governed by and construed in accordance with the laws of the state where the
Project is located.

 

10.12                     Consent to
Jurisdiction and Service of Process.  All judicial proceedings brought against any
party hereto arising out of or relating to this Agreement may be brought in any
state or federal court of competent jurisdiction in Palm Beach County, State of
Florida, and by execution and delivery of this Agreement each party accepts for
itself and in connection with its properties, generally and unconditionally,
the exclusive jurisdiction of the aforesaid courts, waives any defense of forum
non conveniens and irrevocably agrees to be bound by any judgment rendered
thereby in connection with this Agreement.

 

10.13                     Termination
Without Breach.  In the
event either party desires to exercise any right expressly provided in this
Agreement to terminate this Agreement, such party shall give written notice of
such termination and the reason therefor to the other party.  Thereafter, except in the event of a
termination based upon a default by either party in the performance of its
obligations under this Agreement, and effective as of the effective date of
such notice, each party shall be released from its obligations hereunder and
all monies and documents deposited into escrow shall be returned to the party
which deposited them, and all documents delivered by Seller to Buyer relating
to the Property shall be returned; provided, however, that nothing herein

 

31

 

shall limit Buyer’s indemnity set forth in Sections
3.2, 8.4 and 10.1 and Seller’s indemnity set forth in Section 10.1.

 

10.14                     Counterparts.  This Agreement may be executed in one or more
counterparts, each of which shall be deemed an original but all of which shall
constitute one and the same instrument. 
In addition, this Agreement may contain more than one counterpart of the
signature page and may be executed by the affixing of the signatures of
each of the parties to any one of such counterpart signature pages; all of such
counterpart signature pages shall read as though one and they shall have
the same force and effect as though all of the signers had signed a single
signature page.

 

10.15                     Entire
Agreement.  This
Agreement and the attached exhibits and all documents in the nature of such
exhibits, when executed, contain the entire understanding of the parties and
supersede any and all other written or oral understanding.

 

10.16                     Relationship of
Parties.  Nothing contained in this
Agreement or in the relationship between the parties shall be deemed to
constitute a partnership, joint venture or any other relationship between them
except that of buyer and seller.

 

10.17                     Recordation.  Neither this Agreement nor any memorandum or
other evidence of this Agreement shall be filed of record

 

10.18                     Radon Gas.  Radon is a naturally occurring radioactive
gas that, when it has accumulated in a building in sufficient quantities, may
present health risks to persons who are exposed to it over time.  Levels of radon that exceed federal and state
guidelines have been found in buildings in Florida.  Additional information regarding radon and
radon testing may be obtained from the applicable county public health unit.

 

10.19                     Escrow Holder.  Any funds delivered to the Escrow Holder
pursuant to this Agreement shall be held by said Escrow Holder in trust. The
execution of this Agreement by the Escrow Holder is solely for purposes of
evidencing the acknowledgment by said Escrow Holder of the receipt by it of the
portion of the Deposit as specified in this Agreement, and if the Deposit (or
any other funds delivered to Escrow Holder hereunder) is received in the form of
a check, it is subject to collection. In the event of any dispute regarding any
action taken, or proposed to be taken, by the Escrow Holder with respect to the
Deposit or any other documents and/or property held by the Escrow Holder
pursuant to this Agreement, the Escrow Holder, in its sole discretion, may
cause the Deposit and/or such other property to be placed into the registry of
a court of competent jurisdiction pursuant to an action of interpleader
commenced by the Escrow Holder, and the Seller and Buyer, jointly and
severally, agree to pay directly, or reimburse the Escrow Holder for, any and
all expenses so incurred by the Escrow Holder, including, but not limited to,
any attorneys’ fees and costs incurred by the Escrow Holder in any such action.
If for any reason the Closing does not occur and either party makes a written
or oral demand upon Escrow Holder for payment of the Deposit, Escrow Holder
shall give written notice to the other party of such demand. If Escrow Holder
does not receive a written objection from the non demanding party to the
proposed payment within seven (7) calendar days after the giving of such
notice, Escrow Holder is authorized, instructed and directed to make such
payment. If Escrow Holder does receive such written objection within such seven
(7) calendar day period, Escrow Holder shall

 

32

 

continue to hold such amount until otherwise
directed by written instructions from the Seller and Buyer or a final judgment
of a court. Seller and Buyer recognize that the Escrow Holder’s duties
hereunder are only as specifically provided herein and are purely ministerial
in nature, and Seller and Buyer therefore agree that the Escrow Holder shall,
so long as it acts in good faith, have no liability to either party except for
its willful misconduct or gross negligence. 
Seller and Buyer do hereby indemnify the Escrow Holder against, and
agree to hold, save, and defend the Escrow Holder harmless from, any costs,
liabilities, and expenses incurred by the Escrow Holder in discharging its
duties hereunder, except to the extent caused by Escrow Holder’s willful
misconduct or gross negligence.

 

10.20                     Exclusivity of
Agreement.  The parties
hereto have voluntarily agreed to define their rights, liabilities and
obligations respecting the subject matter of this Agreement exclusively in
contract pursuant to the express terms and provisions of this Agreement, and
the parties hereto expressly disclaim that they are owed any duties or are
entitled to any remedies not expressly set forth in this Agreement.  Furthermore, the parties each hereby
acknowledge that this Agreement embodies the justifiable expectations of
sophisticated parties derived from arm’s length negotiations, and all parties
to this Agreement specifically acknowledge that no party has any special
relationship with another party that would justify any expectation beyond that
of an ordinary buyer and an ordinary seller in an arm’s length
transaction.  The sole and exclusive
remedies for any breach of the terms and provisions of this Agreement
(including any representations and warranties set forth herein) shall be those
remedies available at law or in equity for breach of contract only (as such
contractual remedies may be further limited or excluded pursuant to the express
terms of this Agreement), and the parties hereto hereby waive and release any
and all tort claims and causes of action that may be based upon, arise out of
or relate to this Agreement, or the negotiation, execution or performance of
this Agreement (including any tort claim or cause of action based upon, arising
out of or related to any representation or warranty made in or in connection
with this Agreement or as an inducement to enter into this Agreement). The
provisions of this Section 10.20 shall survive Closing.

 

10.21                     No Third Party
Liability.  This
Agreement may only be enforced against the named parties hereto.  All claims or causes of action (whether in
contract or tort) that may be based upon, arise out of or relate to this Agreement,
or the negotiation, execution or performance of this Agreement (including any
representation or warranty made in or in connection with this Agreement or as
an inducement to enter into this Agreement), may be made only against the
entities that are expressly identified as parties hereto, and no officer,
director, shareholder, employee or affiliate of any party hereto (including any
person negotiating or executing this Agreement on behalf of a party hereto)
shall have any liability or obligation with respect to this Agreement or with
respect to any claim or cause of action (whether in contract or tort) that may
arise out of or relate to this Agreement, or the negotiation, execution or
performance of this Agreement (including a representation or warranty made in
or in connection with this Agreement or as an inducement to enter into this
Agreement). The provisions of this Section 10.21 shall survive
Closing.

 

10.22                     Electronic
Records.  Buyer acknowledges that Seller
has an electronic records policy and that Seller may not retain hard copies of
this Agreement or any of the documents or instruments executed pursuant hereto,
and that Seller shall only retain electronic copies.  Buyer acknowledges and agrees that an electronic
copy of this Agreement or any other instruments

 

33

 

stored in accordance with Seller’s policies shall be
deemed an original copy of this Agreement or such other documents.  The provisions of this Section 10.22
shall survive the Closing or termination of this Agreement.

 

10.23                     Trustee.  The parties acknowledge and agree that (i) this
Agreement is being signed by the FMC Seller in his capacity as Trustee, and not
individually, and (ii) the FMC Seller shall have no personal liability as
a result of his execution of this Agreement.

 

IN WITNESS WHEREOF, Seller and Buyer have executed
this Agreement as of the Effective Date.

 

(Counterpart Signature Pages Follow)

 

34

 

PURCHASE AND SALE AGREEMENT

AND AGREEMENT TO ENTER INTO
GROUND LEASE

 

by and between

 

Richard B. Silver, as Successor Trustee
pursuant to the FMC Land Trust Agreement No. 1001,

Tenet Hialeah Healthsystem, Inc.,

Tenet Healthsystem North Shore, Inc.,

Lifemark Hospitals, Inc.,

Tenet Good Samaritan, Inc., and

Tenet St. Mary’s Inc.

 

as Seller,

 

and

 

APPLEFIELD WAXMAN CAPITAL, INC.,

 

as Buyer.

 

Counterpart Signature Page of
Buyer

 

 

	
   

  	
  “BUYER”

  
	
   

  	
   

  
	
   

  	
  APPLEFIELD WAXMAN CAPITAL, INC.,

  
	
   

  	
  a Florida corporation

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Brian K. Waxman

  
	
   

  	
  Name:

  	
  Brian K. Waxman

  
	
   

  	
  Title:

  	
  Managing Member

  

 

35

 

PURCHASE AND SALE AGREEMENT

AND AGREEMENT TO ENTER INTO
GROUND LEASE

 

by and between

 

Richard B. Silver, as Successor Trustee
pursuant to the FMC Land Trust Agreement No. 1001,

Tenet Hialeah Healthsystem, Inc.,

Tenet Healthsystem North Shore, Inc.,

Lifemark Hospitals, Inc.,

Tenet Good Samaritan, Inc., and

Tenet St. Mary’s Inc.

 

as Seller,

 

and

 

APPLEFIELD WAXMAN CAPITAL, INC.,

 

as Buyer.

 

Counterpart Signature Page of
Seller

 

 

	
   

  	
  “SELLER”

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  RICHARD B. SILVER, AS SUCCESSOR TRUSTEE PURSUANT
  TO THE FMC LAND TRUST AGREEMENT NO. 1001

  
	
   

  	
   

  
	
   

  	
  TENET HIALEAH HEALTHSYSTEM, INC., a Florida
  corporation

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  
	
   

  	
  TENET HEALTHSYSTEM NORTH SHORE, INC., a Florida
  corporation

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  

 

36

 

PURCHASE AND SALE AGREEMENT

AND AGREEMENT TO ENTER INTO
GROUND LEASE

 

by and between

 

Richard B. Silver, as Successor Trustee
pursuant to the FMC Land Trust Agreement No. 1001,

Tenet Hialeah HealthSystem, Inc.,

Tenet Healthsystem North Shore, Inc.,

Lifemark Hospitals, Inc.;

Tenet Good Samaritan, Inc., and

Tenet St. Mary’s Inc.

 

as Seller,

 

and

 

APPLEFIELD WAXMAN CAPITAL, INC.,

 

as Buyer.

 

Counterpart Signature Page of
Seller (continued)

 

 

	
   

  	
  LIFEMARK HOSPITALS, INC., a Delaware
  corporation

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  
	
   

  	
  TENET GOOD SAMARITAN, INC., a Florida
  corporation

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  
	
   

  	
  TENET ST. MARY’S INC., a Florida
  corporation

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  

 

37

 

JOINDER BY ESCROW HOLDER

 

TO

 

PURCHASE AND SALE AGREEMENT

AND AGREEMENT TO ENTER INTO
GROUND LEASE

 

The
undersigned hereby acknowledges receipt of the Initial Deposit and agrees to
hold and dispose of the Deposit, and interest thereon, in accordance with the
provisions of the foregoing Agreement.

 

 

	
   

  	
  ESCROW HOLDER:

  
	
   

  	
   

  
	
   

  	
  COMMONWEALTH LAND TITLE COMPANY

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  
	
   

  	
  Date:
                              ,
  2010

  

 

38

 

EXHIBIT “A”

 

Legal Description of Real Property

 

Central Medical Building at Florida Medical Center

 

[to be inserted]

 

East Medical Building at Florida Medical Center

 

[to be inserted]

 

Oakland Medical Mall at Florida Medical Center

 

[to be inserted]

 

Excess Land at Florida Medical Center  (the “Fee Project”)

 

[to be inserted]

 

Hialeah Medical Office Building

 

[to be inserted]

 

Palmetto Medical Building

 

[to be inserted]

 

Medical Arts Building at North Shore Medical Center

 

[to be inserted]

 

St. Mary’s Professional Building

 

[to be inserted]

 

Farris Building at Good Samaritan Medical Center

 

[to be inserted]

 

1

 

EXHIBIT “B”

 

Form of Ground Lease

 

[follows this page]

 

1

 

EXHIBIT “C”

 

Form of General Assignment

 

Bill of Sale and Assignment and
Assumption Of Obligations

 

FOR VALUABLE CONSIDERATION, the receipt and
sufficiency of which are hereby expressly acknowledged,
                                       
(“Assignor”), hereby assigns, transfers and conveys to
                                                                              
(“Assignee”), all of Assignor’s right, title and interest in and to the
Personal Property and the Intangible Property, as those terms are defined in
that certain Purchase and Sale Agreement and Agreement to Enter Into Ground
Lease (the “Agreement”) dated as of
                          
      , 2010 entered into by and between
Assignor, as Seller, and Assignee, as Buyer.

 

Assignee is purchasing the Personal Property on an “AS
IS” and in “WITH ALL FAULTS” condition as provided in the Agreement.  Assignor makes no warranty, whether express,
implied or statutory, regarding the physical condition of the Personal Property
or its fitness or suitability for any particular purpose nor any warranties or
representations at all with respect to the Intangible Property, except as
expressly provided in the Agreement.

 

Assignee hereby assumes and agrees to keep, perform
and fulfill all of Assignor’s obligations as obligor under any contracts
included in Intangible Property under the Agreement (the “Assigned Contracts”).  Assignee also agrees to indemnify, protect,
defend and hold Assignor harmless from and against any and all claims, damages,
losses, costs and expenses (including attorneys’ fees) arising in connection
with the Assigned Contracts and relating to the period after the Closing Date.

 

This Bill of Sale and Assignment and Assumption of
Obligations is given pursuant to the Agreement and is governed by the
provisions thereof.

 

IN WITNESS WHEREOF, Assignor and Assignee have
executed this Assignment of Intangible Property as of
                                        ,
2010.

 

1

 

	
  “ASSIGNOR”

  	
   

  	
  “ASSIGNEE”

  
	
   

  	
   

  	
   

  
	
   

  	
  ,

  	
   

  	
  ,

  
	
  a ________________________________________

  	
   

  	
  a ________________________________________

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
  By:

  	
   

  
	
  Name:

  	
   

  	
   

  	
  Name:

  	
   

  
	
  Title:

  	
   

  	
   

  	
  Title:

  	
   

  
						

 

2

 

EXHIBIT “D”

 

Form of FIRPTA Certificate

 

To inform                                       
(“Transferee”) that withholding of tax under Section 1445 of the
Internal Revenue Code of 1986, as amended, and any other applicable state or
local laws or ordinances (collectively the “Codes”), will not be
required upon transfer of certain real property to Transferee by
                                                  ,
a
                            
(“Transferor”), the undersigned hereby certifies the following on behalf
of Transferor:

 

1.                                       Transferor is
not a foreign person, foreign corporation, foreign partnership, foreign trust,
or foreign estate (as those terms are defined in the Codes and the Income Tax
Regulations promulgated thereunder);

 

2.                                       Transferor’s
U.S. employer identification/social security number is:                     .

 

3.                                       Transferor’s
office address is:
                                                                        .

 

4.                                       Transferor is
not a disregarded entity.

 

Transferor understands that this Certification may
be disclosed to the Internal Revenue Service by Transferee and that any false
statement contained herein could be punished by fine, imprisonment, or both.

 

Transferor understands that Transferee is relying on
this Certification in determining whether withholding is required upon said transfer.

 

Under penalty of perjury I declare that I have
examined this Certification and to the best of my knowledge and belief it is
true, correct and complete, and I further declare that I have authority to sign
this document on behalf of Transferor.

 

 

	
  TRANSFEROR:

  	
  Dated:
                                ,
  2010

  
	
   

  	
   

  
	
   

  	
  ,

  
	
  a ____________________________________________

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  
	
  Name:

  	
   

  	
   

  
	
  Title:

  	
   

  	
   

  

 

1

 

EXHIBIT “E”

 

Form of Lease Assignment and Assumption

 

THIS LEASE ASSIGNMENT AND ASSUMPTION (“Assignment”)
is made this            day
of
                          ,
2010, by and between                                       
.., a
                          
corporation (“Assignor”), and
                                          
(“Assignee”).

 

In connection with the conveyance by Assignor to
Assignee of fee simple title to the Improvements commonly known as
                                               
, and the leasing of the real property by Assignor to Assignee, Assignor has
agreed, pursuant to a Purchase and Sale Agreement and Agreement to Enter Into
Ground Lease dated as of
                      
    , 2010 (“Purchase Agreement”), to assign to
Assignee all of Assignor’s right, title and interest in as landlord and to the
leases identified in Schedule 1 attached hereto and all rents and
profits thereunder for periods following the date hereof (collectively, “Tenant
Leases”).

 

NOW, THEREFORE, for good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, Assignor hereby
assigns, sells, transfers, sets over and delivers unto Assignee all of Assignor’s
estate, right, title and interest in and to the Tenant Leases and Assignee
hereby accepts such assignment.

 

Assignee hereby agrees to indemnify, defend and hold
harmless Assignor from and against any and all claims, losses, liabilities and
expenses, including reasonable attorneys’ fees, suffered or incurred by
Assignor by reason of any breach of the landlord’s obligations under the Tenant
Leases from and after the date of this Assignment.

 

Assignee hereby assumes the performance of all of
the terms, covenants and conditions imposed upon Assignor as landlord under the
Tenant Leases accruing or arising on or after the date of this Assignment.

 

This Assignment may be executed simultaneously in
counterparts, each of which shall be deemed an original, but all of which,
together, shall constitute one and the same instrument.

 

1

 

This Assignment shall be binding upon and inure to
the benefit of the successors, assigns, personal representatives, heirs and
legatees of all the respective parties hereto.

 

This Assignment shall be governed by, interpreted
under, and construed and enforceable in accordance with, the laws of the State
of Florida.

 

	
  “ASSIGNOR”

  	
   

  	
  “ASSIGNEE”

  
	
   

  	
   

  	
   

  
	
   

  	
  ,

  	
   

  	
  ,

  
	
  a ________________________________________

  	
   

  	
  a ________________________________________

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
  By:

  	
   

  
	
  Name:

  	
   

  	
   

  	
  Name:

  	
   

  
	
  Title:

  	
   

  	
   

  	
  Title:

  	
   

  
						

 

2

 

EXHIBIT “F”

 

Form of Buyer’s Release

 

RELEASE

 

(                                                    )

 

THIS RELEASE (“Release”) is made as of the
       day of
                  ,
2010 by
                          (“Buyer”)
for the benefit of
                                       
(“Seller”) and others described herein in connection with the closing of
the purchase and sale transaction more fully described in that certain Purchase
and Sale Agreement and Agreement to Enter Into Ground Lease effective
                          
, 2010 between
                                    
and                                 
(the “Purchase and Sale Agreement”).

 

1.                                       Unless
otherwise defined herein, capitalized terms used in this Release shall have the
meaning given such terms in the Purchase and Sale Agreement.

 

2.                                       Effective as of
the Closing Date, and except as to Seller’s obligations, representations,
warranties and covenants under the Purchase and Sale Agreement (and the closing
documents delivered by Seller pursuant to the terms of the Purchase and Sale
Agreement), Buyer, on its own behalf and on behalf of its trustees, officers,
employees, other Affiliates, agents, attorneys, representatives, successors and
assigns (collectively “Releasing
Parties”) hereby agrees that each of Seller and Seller’s directors,
officers, employees, other Affiliates, agents, attorneys, representatives,
successors and assigns (collectively “Released  Parties”)
shall be fully and forever released and discharged from any and all
liabilities, losses, claims (including third party claims), demands, damages of
any nature whatsoever, causes of action, costs, penalties, fines, judgments,
attorneys’ fees, consultants’ fees and costs and experts’ fees (collectively, “Claims”),
whether direct or indirect, known or unknown, foreseen or unforeseen, that may
arise on account of or in any way be connected with the Property including,
without limitation, the physical, environmental and structural condition of the
Property or any law or regulation applicable thereto, including, without
limitation, any Claim or matter (regardless of when it first appeared or
appears) relating to or arising from: (a) the status of title to the Real
Property or Seller’s ownership of the Real Property including all matters shown
on the Title Report, the Survey and all matters which would have been shown on
an ALTA/ACSM survey of the Real Property; (b) the presence of any
environmental problems, or the use, presence, storage, release, discharge,
migration or transportation of Hazardous Substances on, in, under, about or to
or from the Property regardless of when such Hazardous Substances were first
introduced on, in, under, about, or transported to or from, the Property; (c) any
patent or latent defects or deficiencies with respect to the Property; (d) the
presence of any mold or microbial agents in the Property; (e) any and all
matters related to the physical condition of the Property or any portion thereof,
including without limitation, the condition and/or operation of the Property
and each part thereof and specifically including all matters, conditions, and
deficiencies reflected in the Diligence Material; (f) any defect, default
or unenforceability of any Lease, Contract or Permit; (g) geological or
seismic conditions, including, without limitation, subsidence, subsurface
conditions, water table, underground water reservoirs, and limitations
regarding the

 

1

 

withdrawal
of water there from, and faulting; (h) whether or not and the extent to
which the Property or any portion thereof is affected by any stream (surface or
underground), body of water, flood prone area, flood plain, floodway, or
special flood hazard; (i) drainage and soil conditions of the Property; (j) the
existence of or availability of any development rights; (k) zoning
requirements (including any special use permits) to which the Property or any
portion thereof may be subject or the status of compliance with such
requirements; (l) the availability of any utilities to the Property or any
portion thereof including, without limitation, water, sewage, gas and
electricity; (m) usages of any adjoining property; (n) access to the
Property or any portion thereof; (o) the value, compliance with
specifications, size, location, age, use, merchantability, quality,
description, or condition of the Property or any portion thereof, or
suitability of the Property or any portion thereof for Buyer’s purposes, or
fitness for any use or purpose whatsoever, or the quality, nature and adequacy
of the physical condition of the Property, including, without limitation, the
quality of the design, labor and materials used to construct the improvements
included in the Property; the condition of structural elements, foundations,
roofs, glass, mechanical, plumbing, electrical, HVAC, sewage, and utility
components and systems; the capacity or availability of sewer, water, or other
utilities; (p) the compliance of the Property with applicable building
codes, fire codes, land use or access laws or ordinances including, without
limitation, the Americans with Disabilities Act (and the local equivalent
thereof) or any similar Laws, including Environmental Laws; (q) enforceability
of any Lease or Contract; (r) whether Seller will continue to own or
operate any hospital adjacent to or in proximity to the Property, (s) the
square footage or leaseable area of the Improvements and/or the real Property,
or (t) the credit-worthiness of any tenant under any of the tenant
Leases.  Buyer hereby waives the right to
pursue and hereby covenants and agrees not to commence any action, legal
proceeding, cause of action or suit in law or equity, of whatever kind or
nature, including, but not limited to, under any Environmental Law, against the
Released Parties or any one of them or their agents in connection with any
Claim and agrees to indemnify, defend and hold the Released Parties harmless of
and from any Claim.  In this connection
and to the greatest extent permitted by law, Buyer hereby agrees, represents
and warrants that Buyer realizes and acknowledges that factual matters now
unknown to it may have given or may hereafter give rise to Claims which are
presently unknown, unanticipated and unsuspected, and Buyer further agrees,
represents and warrants that the waivers and releases herein have been
negotiated and agreed upon in light of that realization, that Buyer
nevertheless hereby intends to release, discharge and acquit Released Parties from
any such unknown Claims, and that this release is a material factor in Seller’s
negotiation of the Purchase Price and represents a material portion of the
consideration given to Seller by Buyer in exchange for Seller’s performance
hereunder.  Without limiting the
foregoing and notwithstanding anything to the contrary contained herein, if
Buyer has actual knowledge of (i) a default in any of the covenants,
agreements or obligations to be performed by Seller under the Purchase and Sale
Agreement and/or (ii) any breach or inaccuracy in any representation of
Seller made in the Purchase and Sale Agreement and/or (iii) any failure of
condition to Buyer’s obligation or close the transaction contemplated by the
Purchase and Sale Agreement and Buyer nonetheless elects to proceed with the
Closing, then, upon the consummation of the Closing, Buyer shall be
conclusively deemed to have waived any such default and/or breach or inaccuracy
and or failure of condition and shall have no Claim against Seller or hereunder
with respect thereto.

 

2

 

DATED as of the day and year
first written above.

 

	
   

  	
   

  	
   

  	
  ,

  
	
   

  	
   

  	
  a ________________________________________

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  
					

 

 

	
  STATE OF

  	
   

  	
  §

  
	
   

  	
   

  	
  § :ss:

  
	
  COUNTY OF

  	
   

  	
  §

  

 

The foregoing instrument was acknowledged before me on
                  ,
2010, by
                                                                ,
as a/the
                                                                    
of                             ,
on behalf of such entity. He/she is personally known to me or produced
                                                              
as identification.

 

	
   

  	
   

  
	
   

  	
  Print Name:

  	
   

  
	
   

  	
  Notary Public State of

  	
   

  
	
   

  	
  My commission expires:

  	
   

  
					

 

3

 

EXHIBIT “G”

 

Form of Seller’s Title
Affidavit

 

SELLER’S TITLE AFFIDAVIT

 

	
  STATE OF FLORIDA

  	
   

  	
  §

  
	
   

  	
   

  	
  § :ss:

  
	
  COUNTY OF

  	
   

  	
  §

  

 

BEFORE ME, the undersigned authority, personally
appeared
                                      ,
as a/the                                                       
of
                                          ,
a
                                        
(hereinafter referred to as the “Seller”), who, being first duly sworn,
on oath, says:

 

1.                                       Seller is the
owner of the real property located in
                  
County, Florida (the “Property”), the legal description of which is set
forth on Exhibit A attached hereto and made a part hereof.

 

2.                                       There are no
parties other than Seller in possession of, or claiming possession to, the
Property other than tenants under existing unrecorded leases as set forth on
that certain assignment of lease executed by Seller of even date hereof in
favor of Buyer (as defined below).

 

3.                                       To my current
actual knowledge, there are no liens of any kind against the Property incurred
by Seller or as a result of Seller’s actions or inactions except for ad valorem
taxes to be paid at Closing and those liens described in the Commitment for
Title Insurance dated
                                        ,
2010 issued by Commonwealth Land Title Company, as agent Lawyers Title
Insurance Corporation (the “Title Company”).

 

4.                                       There have been
no improvements, repairs, additions or alterations performed upon or to the
Property by Seller within the past ninety (90) days for which payment has not
been made or will not be made in the ordinary course of business; Seller has
not entered into any agreement or contract with any party for the furnishing of
any labor, services or materials in connection with any improvements, repairs,
or additions for which payment has not been made or will not be made in the
ordinary course of business; and to the knowledge of Seller, there are no
parties who have any claim or right to a lien for services, labor or material
in connection with any improvements, repairs, additions or alterations on the
Property.

 

5.                                       There are no
matters pending against Seller that could give rise to a lien that would attach
to the Property between the date hereof and the recording of the [Special
Warranty Bill of Sale][Special Warranty Deed] from Seller to
                                        ,
a
                          
(“Buyer”), and Seller has not and will not execute any instrument that
would adversely affect title to the Property. 
In the event that Seller causes such an instrument to be executed or
recorded, Seller agrees to indemnify and hold the Title Company harmless from
any loss or damage occasioned by the execution of recording of such
instruments, including court costs and reasonable attorneys’ fees.

 

1

 

6.                                       This Affidavit
is made for the purpose of inducing the Title Company to insure title to the
Property in Buyer.

 

 

	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  

 

 

The foregoing instrument was acknowledged before me on
                      ,
2010, by
                                                                ,
as a/the
                                                                    
of                                                       ,
on behalf of such entity. He/she is personally known to me or produced
                                                              
as identification.

 

 

	
   

  	
   

  
	
   

  	
  Print Name:

  	
   

  
	
   

  	
  Notary Public

  	
   

  
	
   

  	
  State of

  	
   

  
	
   

  	
  County of

  	
   

  
	
   

  	
  My commission expires:

  	
   

  
				

 

{Notary’s Seal}

 

2

 

EXHIBIT A

 

LEGAL DESCRIPTION

 

[TO BE ATTACHED]

 

3

 

EXHIBIT “H”

 

Form of Tenant Estoppel
Certificate

 

TENANT
ESTOPPEL CERTIFICATE

 

	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  and

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  

 

Re:                               Lease attached
hereto as Exhibit A (the “Lease”), the tenant or Tenant
thereunder (the “Tenant”), the Landlord or landlord thereunder, whether
named therein or as successor (the “Landlord”), and the premises leased
pursuant to the Lease (the “Premises”)

 

Gentlemen:

 

Tenant understands that
Landlord intends to sell the property which is the subject of the Lease (the “Property”)
to
                                    
, its successors and assigns (collectively, the “Buyer”), and in
connection with such sale Tenant hereby certifies to the Landlord, the Buyer,
and, if applicable,  the Buyer’s lender,
and its successor’s and/or assigns (collectively, the “Lender”), as
follows:

 

(i)                                     The Tenant
accepted occupancy of the Premises on
                                    .

 

(ii)                                  The term of the
Lease commenced on
                                          
and expires on
                                ,
unless earlier terminated or extended as provided in the Lease.

 

(iii)                               The Tenant
commenced rent payments under the Lease on
                                    .

 

(iv)                              The current
monthly base rental under the Lease is
                                
per month and the current monthly additional rent paid by the Tenant is
                                .

 

(v)                                 Monthly base
rent and additional rent has been paid through
                                .

 

1

 

(vi)                              The Landlord is
not in default under the Lease.

 

(vii)                           The amount of
the security deposit paid by the Tenant under the Lease is
            .

 

(viii)                        Tenant does not
have any option or renewal rights with respect to the Premises except as may be
set forth in the Lease.

 

(ix)                                Any build-out
or improvements to the Premises required to be made by the Landlord under the
Lease have been completed.

 

Tenant acknowledges that the
Landlord, the Buyer, and if applicable, the Lender, will rely on the statements
and agreements contained herein. The statements and agreements by Tenant
contained in this Tenant Estoppel Certificate shall inure to the benefit of the
Landlord, the Buyer, and, if applicable, the Lender, and their respective
successors and assigns.

 

 

	
   

  	
  Very truly yours,

  
	
   

  	
   

  
	
   

  	
  TENANT:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  [INSERT NAME OF TENANT]

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Print Name:

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  
	
   

  	
  Date:                   ,
  2010

  
				

 

2

 

EXHIBIT “I”

 

Form of Bill of Sale

 

	
  THIS INSTRUMENT WAS PREPARED BY

  	
   

  
	
  AND AFTER RECORDING RETURN TO:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
			

 

SPECIAL

WARRANTY

BILL OF SALE

(“Improvements Only”)

 

THIS
SPECIAL WARRANTY BILL OF SALE is made as of the
       day of
                          ,
2010, by
                                                                                    
(the “Seller”), having an address of
                                                                      ,
to                                         ,
a                                                                   
(the “Buyer”), having an address of
                                                                                                          .

 

Seller,
for and in consideration of the sum of Ten Dollars ($10.00) and other valuable
consideration, receipt whereof is hereby acknowledged, and pursuant to proper
authority, hereby grants, bargains, sells, aliens, remises, releases, conveys
and confirms unto Buyer and its successors, heirs and assigns, all right, title
and interest of Seller in all buildings, fixtures, structures, and other
improvements (collectively the “Improvements”) located on the real
property described on Exhibit A attached hereto and made a part
hereof (the “Land”).

 

Seller
represents and warrants to Buyer that it is the owner of the Improvements, that
such Improvements are free and clear of all liens, charges and encumbrances
other than the exceptions listed on Exhibit B attached hereto (the “Permitted
Exceptions”), and Seller warrants and defends title to the Improvements
unto Buyer, its successors, heirs and assigns, against the claims of all
persons claiming by, through or under Seller, but not otherwise, subject only
to the Permitted Exceptions.

 

The
real property described on Exhibit A has been leased by Seller to
Buyer pursuant to that certain Ground Lease of even date herewith (as the same
may be amended or restated from time to time, the “Ground Lease”), a
Memorandum of Lease with respect to which is of record in the Office of the
                        
for
                
County, Florida, filed as Instrument Number
                                        
[or] Official Records Book
            , Page             .  Upon the termination of the Ground Lease, by
lapse of time or otherwise, all of the Improvements shall, subject to the terms
of the Ground Lease (including without limitation Section 10
thereof), revert to and become the property of Seller and shall remain upon the
property described on Exhibit A, without compensation, allowance or
credit to Buyer or its successors.

 

1

 

TO
HAVE AND TO HOLD the Improvements in fee simple unto Buyer and its successors,
heirs and assigns, forever.

 

This
Special Warranty Bill of Sale does not convey any right, title, or interest of
the Seller in and to the Land to the Buyer.

 

2

 

IN
WITNESS WHEREOF, said Seller has caused this instrument to be duly executed and
delivered by its duly authorized officer, as of the day and year first above
written.

 

	
   

  	
   

  	
  SELLER:

  
	
  WITNESSES:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Print
  Name:

  	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  
	
  Print
  Name:

  	
   

  	
   

  	
   

  

 

[ACKNOWLEDGEMENT APPEARS ON NEXT PAGE]

 

3

 

	
  STATE
  OF

  	
  §

  
	
   

  	
  § 
  SS.

  
	
  COUNTY
  OF

  	
  §
  

  

 

The foregoing instrument was acknowledged before me on
                      ,
2010, by                                                                 ,
as a/the
                                                                    
of
                                                      ,
on behalf of such entity. He/she is personally known to me or produced
                                                              
as identification.

 

 

	
   

  	
   

  
	
   

  	
  Print
  Name:

  	
   

  
	
   

  	
  Notary
  Public

  
	
   

  	
  State
  of

  
	
   

  	
  County
  of

  
	
   

  	
  My
  commission expires:

  
	
   

  	
   

  
	
   

  	
  {Notary’s Seal}

  

 

4

 

EXHIBIT “J”

 

Form of REA

 

[follows this page]

 

1

 

EXHIBIT “K”

 

Form of Deed

 

Property
Appraiser’s

Parcel
ID No(s):                                                            

Grantee’s
Federal

Taxpayer
Identification No.:                                         

 

SPECIAL WARRANTY DEED

 

THIS SPECIAL WARRANTY DEED is made on
                              ,
2010, by
                                                  ,
a
                                                ,
whose post office address is
                                                              
(the “Grantor”), to
                                                      ,
a                                         ,
whose post office address is                                             
(the “Grantee”).

 

WITNESSETH: that the Grantor, for and in consideration of the sum of
TEN AND NO/100 DOLLARS ($10.00) and other good and valuable considerations to
the Grantor in hand paid by the Grantee, the receipt and sufficiency whereof is
hereby acknowledged, has granted, bargained, sold, aliened, remised, released,
conveyed and confirmed unto the Grantee, and the Grantee’s heirs, successors
and assigns forever, the following described land, situate, lying and being in
Broward County, Florida:

 

See Exhibit A
attached hereto and made a part hereof.

 

SUBJECT TO:

 

1.     Taxes and
assessments for the year 2010 and subsequent years, which are not yet due and
payable; and

 

2.     Zoning,
conditions, restrictions, easements and limitations of record (but this shall
not serve to reimpose same); and

 

3.     The matters set
forth on Exhibit B attached hereto and made a part hereof.

 

TOGETHER, with all the improvements situate thereon and all the
tenements, hereditaments and appurtenances thereto belonging or in anywise
appertaining.

 

TO
HAVE AND TO HOLD, the same in fee simple forever, SUBJECT, however, to the
restrictions set forth in Exhibit C attached hereto and made a part
hereof and hereby imposed by this Deed.

 

1

 

AND the Grantor hereby covenants with the Grantee that the Grantor is
lawfully seized of said land in fee simple; that the Grantor has good right and
lawful authority to sell and convey said land; and that the Grantor does hereby
warrant the title to said land and will defend the same against the lawful
claims of all persons claiming by, through or under the Grantor, but not
otherwise.

 

[Signature Page Follows]

 

2

 

IN WITNESS WHEREOF, the Grantor has hereunto set their respective hands
and seals the day and year first above written.

 

	
  Witnesses:

  	
   

  	
  GRANTOR:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Witness
  signature­

  	
   

  	
  By:

  	
   

  
	
  Print
  name:

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Witness
  signature­

  	
   

  	
   

  	
   

  
	
  Print
  name:

  	
   

  	
   

  	
   

  

 

ACKNOWLEDGMENT

 

	
  STATE
  OF

  	
  §

  
	
   

  	
  §:ss:

  
	
  COUNTY
  OF

  	
  §

  

 

The foregoing instrument was acknowledged before me on
                  ,
2010, by
                                                                ,
as a/the
                                                                    
of
                                                                                  ,
on behalf of such entity. He/she is personally known to me or produced
                                                              
as identification.

 

 

	
   

  	
   

  
	
   

  	
  Notary’s
  signature­

  
	
   

  	
  Print
  name here:

  
	
   

  	
  Notary
  Public

  
	
   

  	
  State
  of

  
	
   

  	
  County
  of

  
	
   

  	
  My
  commission expires:

  
	
   

  	
  {Notary’s Seal}

  

 

THIS INSTRUMENT WAS PREPARED BY

AND AFTER RECORDING RETURN TO:

	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  

 

3

 

EXHIBIT A

 

Legal Description of the Land

 

[to be attached]

 

4

 

EXHIBIT B

 

Permitted Exceptions

 

[to be attached]

 

5

 

EXHIBIT C

 

Restrictive Covenants and Conditions

 

In consideration of the conveyance in the deed (the “Deed”) to
which these restrictive covenants and conditions (these “Restrictions”)
are attached, Grantor (as defined in the Deed) hereby establishes, declares and
prescribes that the land conveyed to Grantee (as defined in the Deed) pursuant
to the Deed (the “Land”) shall be owned, held, transferred and conveyed
subject to the restrictive covenants and conditions hereinafter set forth,
which shall apply to and be covenants running with the Land for the benefit the
Hospital Owner (as defined below), its successors and/or assigns, as the owner
of the Hospital (as defined below); and Grantee, its successors and assigns,
and every owner, present, past or future, of the Land or any part thereof,
including any purchaser at a judicial sale (by acceptance of a deed therefor,
whether or not it shall be so expressed in such deed of conveyance) hereby
covenants and agrees to comply with, abide and be bound by these Restrictions.  Grantee acknowledges and agrees that these
Restrictions are a material part of the consideration to Grantor for the sale
of the Land and the cash portion of the purchase price for the Land reflects
the impact of these Restrictions.  As
used herein, the term “Hospital” means the acute care hospital facility
adjoining or in the immediate vicinity of the Land, commonly known (at the time
of execution of the Deed) as “Florida Medical Center”.

 

1.             No portion of
the Land shall be used for the operation of an acute care general hospital, an
acute care specialty hospital, an ambulatory surgical center, an emergency
center, an ambulance service, or any other facility that offers services
generally  provided by a licensed acute care
hospital. The Land shall be used only for the ownership and operation of
medical and professional offices and associated support services.  Such medical and professional offices shall
be exclusively used and occupied by physicians and professional practitioners
and their staff as is necessary to support such physicians and professionals in
the practice of medicine or the rendition of professional services.

 

2.             (a)           No portion of the Land shall
be used for any of the following activities without the express prior written
consent of then current owner(s) of fee simple title or, if the operator
of the hospital is different, the operator of the Hospital (collectively, the “Hospital
Owner”), which consent may be granted or denied in the Hospital Owner’s
sole and absolute discretion (the “Prohibited Services”):

 

(i)            pharmacy;

 

(ii)           acute care
general hospital;

 

(iii)          ambulatory
surgery (for any procedure which either (x) under Florida law, requires
the procedure to be performed in a licensed ambulatory surgery center, or (y) is
performed while the patient is under any form of sedation);

 

(iv)          physical
therapy;

 

6

 

(v)           reference
diagnostic radiology;

 

(vi)          reference
diagnostic imaging such as ultrasound, computer assisted tomography scans, and
magnetic resonance imaging;

 

(vii)         nuclear
medicine testing;

 

(viii)        radiation
oncology;

 

(ix)           GI/endoscopy
center;

 

(x)            wound care
clinic;

 

(xi)           hyperbaric
clinic;

 

(xii)          cardiac or
other vascular catheterization;

 

(xiii)         outpatient
surgery centers;

 

(xiv)        any procedure
requiring anesthesia which must be administered by an anesthesiologist or
certified registered nurse or other trained anesthetist (excluding procedures
performed by dentists, oral surgeons, opthamologists, or dermatologists);

 

(xv)         emergency
center;

 

(xvi)        laboratory
services;

 

(xvii)       “urgent care”
(which is defined for purposes hereof as the furnishing of medical services
where (x) the provider of the services markets itself to the public as
providing “urgent care,” (y) the services are provided to patients with
whom the physician does not have an existing patient relationship, and (z) such
services are provided to patients after the normal business hours of medical
and professional offices);

 

(xviii)      ambulance
service or any other facility that offers services generally provided by a
licensed acute care hospital;

 

(xix)         computerized
topographic scanner;

 

(xx)          radiation
therapy;

 

(xxi)         mammography and
breast diagnostics;

 

(xxii)        short-stay
surgery;

 

(xxiii)       birthing
center;

 

7

 

(xxiv)       intravenous
sedated outpatient procedures;

 

(xxv)        LETZ
procedures;

 

(xxvi)       cervical
biopsies; or

 

(xxvii)      other services
which duplicate on a commercial basis the services offered by or made available
by the Hospital Owner.

 

No portion of the Land shall be used for the operation of a
hospital.  All ground leases, space
leases, and subleases for all or any part of the Land or for any space within
any improvements on the land shall contain the foregoing use restrictions, and
the Grantee shall enforce such restrictions at its sole cost and expense
(without limiting the right of Hospital Owner to enforce such restrictions).

 

(b)           In no event
shall the Land be transferred, sold, leased, or otherwise conveyed to or
operated by any Competing Facility, whether pursuant to deed, lease, sublease,
license or otherwise, unless approved in advance in writing by Hospital Owner,
which approval may be granted or withheld in Hospital Owner’s sole
discretion.  “Competing Facility”
means, without limitation, any person or entity, or any affiliate of such
person or entity, which: (i) directly or indirectly, owns, operates,
controls, manages, and/or provides consulting services to any of the following:
(A) hospital; (B) ambulatory surgical center; (C) diagnostic
center; (D) medical center clinic; or (E) facility which provides
inpatient, outpatient, or emergency healthcare services or any of the
Prohibited Services, and/or (ii) owns, controls or is a material investor
in one or more of the foregoing facilities, whether as an equity holder,
lender, or otherwise (other than a bank or institutional lender that acquires a
Competing Facility or an interest therein by foreclosure or deed or assignment
in lieu of foreclosure and such bank or institutional lender is actively
marketing such facility for sale), and/or (iii) is an affiliate of a
person or entity described in subparagraphs (i) or (ii),
above.  In addition, a Competing Facility
shall include any facility which is any of the types of hospitals, facilities
or centers described in clauses (A) through (E) above.

 

(c)           Consent
hereunder shall be granted on the basis of the person or entity engaging in
such activity (a “Provider”) and not on the basis of a particular
activity, and, accordingly, a change in the Provider engaging in an activity
for which consent was granted shall require the new consent of the Hospital
Owner, or its successors or assigns.

 

(d)           Requests for
the Hospital Owner’s consent shall be delivered to the Hospital Owner at the address
set forth below via first class mail, postage prepaid, return receipt
requested, via guaranteed overnight courier, or via facsimile.  The Hospital Owner’s address for such
requests is as follows:

 

8

 

Tenet
HealthSystems

 

 

Att:

Tel

Fax

 

with copy to:

 

Tenet HealthSystems

1445 Ross Avenue

Suite 1400

Dallas, Texas 75202

Att: V.P. of Real Estate Development

Tel 469-893-2210

Fax 469-893-3210

 

The Hospital Owner and its successors and assigns shall have the right
to amend this Paragraph 2(d) of record unilaterally, at their sole
cost and expense, in order to change the address to which requests for consent
must be delivered.  Such amendments shall
be of no force or effect, however, until recorded in the Public Records of
Broward County, Florida.

 

3.             The restrictive covenants
and conditions shall be effective upon the date of the Deed, shall run with the
Land, and shall inure to the benefit of the Hospital Owner, its successors
and/or assigns, as the owner of the Hospital, and be binding upon the Grantor,
the Grantee, and the respective successors, successors-in-title, assigns, heirs
of Grantor and Grantee, as well as their respective agents, employees, lessees
and invitees.  The restrictive covenants
and conditions shall remain in full force and effect and shall be unaffected by
any change in ownership of all or any portion of the Land or of the Hospital,
or by any change of use, demolition, reconstruction, expansion or other
circumstances on the Land or the Hospital. 
Irreparable harm will result to the Hospital Owner by reason of any
breach of the restrictive covenants and conditions set forth herein, and,
therefore, the Hospital Owner shall be entitled to relief by way of injunction
or specific performance to enforce the provisions herein, as well as any other
relief available at law or equity; however, the Hospital Owner shall not be
entitled to sue Grantee for damages that are purely speculative in nature.  The failure of the Hospital Owner, in one or
more instances, to insist upon compliance with any of the restrictive covenants
and conditions, or to exercise any right or privilege conferred herein, shall
not constitute or be construed to as the waiver of such or any similar
restriction, right, option or privilege, but the same shall continue and remain
in full force and effect as if no such forbearance had occurred.  In the event it shall become necessary for
the Hospital Owner to employ an attorney to enforce the restrictive covenants
and conditions or to remedy the breach of any covenant or condition, Grantee
shall pay to the Hospital Owner reasonable and actual fees and costs as shall
be charged by the Hospital Owner’s attorney for such services.  If the Hospital Owner and Grantee become
involved in litigation to enforce their rights hereunder, the prevailing party
shall be entitled to be reimbursed by the losing party for all

 

9

 

reasonable
and actual costs and expenses incurred by the prevailing party including,
without limitation, reasonable, actually incurred attorneys’ fees.  All individual terms and provisions hereof
shall be enforced independently of the others. 
If any term or provision hereof or the application thereof shall, to any
extent, be held to be invalid or unenforceable by a court of competent
jurisdiction, then the remainder of these Restrictions other than that which is
held invalid or unenforceable shall not be affected thereby, and each term and
provision hereof shall be valid and enforceable to the fullest extent permitted
by law.  Except as expressly and
specifically set forth in Paragraph 2(d) to the contrary, these
Restrictions may not be amended in any manner whatsoever except pursuant to a
writing executed by the Hospital Owner or its successors or assigns and the
then-current owner or owners of fee-simple title to all of the Land.

 

10

 

SCHEDULE 1.5

 

Contracts, Leases and Warranties

 

A.    Contracts

 

B.             Leases

 

C.    Warranties

 

1

 

SCHEDULE 1.14

 

Description of the
Improvements

 

Central
Medical Building at Florida Medical Center

 

[to be
inserted]

 

East
Medical Building at Florida Medical Center

 

[to be
inserted]

 

Oakland
Medical Mall at Florida Medical Center

 

[to be
inserted]

 

Hialeah
Medical Office Building

 

[to be
inserted]

 

Palmetto
Medical Building

 

[to be
inserted]

 

Medical
Arts Building at North Shore Medical Center

 

[to be
inserted]

 

St.
Mary’s Professional Building

 

[to be
inserted]

 

Farris
Building at Good Samaritan Medical Center

 

[to be
inserted]

 

1

 

SCHEDULE 1.31

 

List of Surveys

 

Central
Medical Building at Florida Medical Center

 

[to be
inserted]

 

East
Medical Building at Florida Medical Center

 

[to be
inserted]

 

Oakland
Medical Mall at Florida Medical Center

 

[to be
inserted]

 

Excess
Land at Florida Medical Center (the “Fee Project”)

 

[to be
inserted]

 

Hialeah
Medical Office Building

 

[to be
inserted]

 

Palmetto
Medical Building

 

[to be
inserted]

 

Medical
Arts Building at North Shore Medical Center

 

[to be
inserted]

 

St.
Mary’s Professional Building

 

[to be
inserted]

 

Farris
Building at Good Samaritan Medical Center

 

[to be
inserted]

 

1

 

SCHEDULE 1.33

 

List of Title Reports

 

[to be inserted]

 

1

 

SCHEDULE
2.3

 

Schedule of
Initial Base Rent

 

Central
Medical Building at Florida Medical Center

 

[to be
inserted]

 

East
Medical Building at Florida Medical Center

 

[to be
inserted]

 

Oakland
Medical Mall at Florida Medical Center

 

[to be
inserted]

 

Hialeah
Medical Office Building

 

[to be
inserted]

 

Palmetto
Medical Building

 

[to be
inserted]

 

Medical
Arts Building at North Shore Medical Center

 

[to be
inserted]

 

St.
Mary’s Professional Building

 

[to be
inserted]

 

Farris
Building at Good Samaritan Medical Center

 

[to be
inserted]

 

1

 

SCHEDULE
3.1

 

List of
Additional Diligence Materials

 

[TO BE ATTACHED]

 

1

 

SCHEDULE 5.1

 

Disclosure Schedule

 

[TO BE ATTACHED]

 

1

 

SCHEDULE 5.1.6

 

Rent Roll

 

[TO BE ATTACHED]

 

1

 

SCHEDULE 5.2.2

 

Leasing Matrix

 

[TO BE ATTACHED]

 

1

 

SCHEDULE 6.6.5

 

List of
Repairs/Maintenance

 

[TO BE ATTACHED]

 

1

 

SCHEDULE 6.6.7

 

List of Leases re: TI
Expenditures/Leasing Expenditures

 

[TO BE ATTACHED]

 

1Exhibit 10.43

 

FIFTH AMENDMENT TO

PURCHASE AND SALE AGREEMENT

AND AGREEMENT TO ENTER INTO GROUND LEASE

 

THIS FIFTH AMENDMENT TO PURCHASE AND SALE AGREEMENT AND AGREEMENT TO ENTER INTO GROUND LEASE (“Amendment”) is made and entered into as of the 12th day of August, 2010, by and among DOUGLAS E. RABE, AS SUCCESSOR TRUSTEE PURSUANT TO THE FMC LAND TRUST AGREEMENT NUMBER 1001, AND NOT INDIVIDUALLY (“FMC Seller”), TENET HIALEAH HEALTHSYSTEM, INC., a Florida corporation (“Hialeah Seller”), TENET HEALTHSYSTEM NORTH SHORE, INC., a Florida corporation (“North Shore Seller”), LIFEMARK HOSPITALS, INC., a Delaware corporation (“Palmetto Seller”), TENET GOOD SAMARITAN, INC., a Florida corporation (“Samaritan Seller”), and TENET ST. MARY’S INC., a Florida corporation (“St. Mary’s Seller”) (collectively called “Seller”), and APPLEFIELD WAXMAN CAPITAL, INC., a Florida corporation (“Buyer”).

 

R E C I T A L S:

 

A.                                    Seller and Buyer entered into that certain Purchase and Sale Agreement and Agreement to Enter into Ground Lease with an effective date of May 27, 2010 (the “Original Agreement”), pursuant to which Buyer agreed to acquire and Seller agreed to sell certain real property located in Fort Lauderdale, Hialeah, Miami and West Palm Beach, Florida, as amended by that certain Amendment to Purchase and Sale Agreement and Agreement to Enter into Ground Lease dated June 25, 2010 (the “First Amendment”), that certain Second Amendment to Purchase and Sale Agreement and Agreement to Enter into Ground Lease dated July 19, 2010 (the “Second Amendment”), that certain Third Amendment to Purchase and Sale Agreement and Agreement to Enter into Ground Lease dated July 28, 2010 (the “Third Amendment”), and that certain Fourth Amendment to Purchase and Sale Agreement and Agreement to Enter into Ground Lease dated August 4, 2010 (the “Fourth Amendment”) (the Original Agreement, as amended by the First Amendment, the Second Amendment, the Third Amendment and the Fourth Amendment, are collectively referred to as the “Agreement”).

 

B.                                    Seller and Buyer desire to amend the Agreement upon the terms and conditions contained herein.

 

NOW, THEREFORE, in consideration of the terms, conditions and covenants contained in the Agreement and in this Amendment, and of other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Seller and Buyer agree as follows:

 

1.                                      Recitals Incorporated; Certain Defined Terms. The foregoing recitals are true and correct. Unless otherwise defined herein, capitalized terms herein shall have the same meaning as ascribed to them in the Agreement.

 

2.                                      Purchase Price. Section 1.27 of the Agreement is deleted and replaced with the following:

 

 

1.27                        Purchase Price. The term “Purchase Price” shall mean the sum of Forty-Seven Million One Hundred Three Thousand Seven Hundred Nine Dollars ($47,103,709), and payable as set forth in Section 2.2.

 

3.                                      Inspection Period/Second Deposit. Subject to the terms of this Amendment, pursuant to Section 3.5 of the Agreement, Buyer elects to proceed to close under the Agreement, accepts the Property in its “as is” condition and, simultaneous with the execution of this Amendment, submits the Second Deposit to Escrow Holder, as required by Section 2.2.2 of the Agreement. Buyer hereby waives any and all right to terminate or otherwise cancel the Agreement pursuant to Section 3.5 of the Agreement. In addition, except as set forth in Section 7 below, Buyer hereby waives any and all title, survey, zoning or land use objections related to the Property, and agrees to accept title to the Property at Closing in its “as-is” condition, subject to (i) the terms of Section 3.3 of the Agreement concerning New Title Objections, and (ii) Seller’s obligation to deliver the closing documents at Closing in accordance with the terms of the Agreement, as amended by this Amendment.

 

4.                                      Contingency for Finalizing Forms of Certain Closing Documents, Parking. Buyer and Seller acknowledge that, as of the date of this Amendment, the parties have not finalized (a) the forms for the Ground Lease, REA, or the tenant space lease, (b) the allocation of the Purchase Price as to each Property, and (b) the use, after Closing, of parking spaces in the Pal-Med garage adjacent to the Palmetto Medical Building by tenants of the Palmetto Medical Building. Following the execution of this Amendment, the parties shall endeavor, in good faith, to finalize the forms of the aforementioned closing documents and agree upon the Purchase Price allocation and the use of parking spaces in the Pal-Med garage. If the parties are unable to agree upon the foregoing within fifteen (15) days after the date of this Amendment, then the Agreement shall automatically terminate, in which case the Deposit shall be forthwith returned to Buyer and Buyer and Seller shall be relieved, as to each other, of all obligations under the Agreement, except as otherwise provided in the Agreement, as amended by this Amendment.

 

5.                                      Closing Date/Extension. The Closing Date, as defined in Section 1.3 of the Agreement, is hereby modified to be September 8, 2010. Provided that Buyer is not in default under the terms of the Agreement, as amended by this Amendment, Buyer, at Buyer’s option, shall have the right to extend the Closing Date to be October 8, 2010, which may be exercised by Buyer, if at all, by delivery, not later than 2:00 pm Dallas, Texas time on September 1, 2010, of the following: (i) written notice to Seller of Buyer’s election to extend the Closing Date pursuant to the terms of this Section; and (ii) an additional Five Hundred Thousand Dollar ($500,000.00) deposit in immediately available funds by wire transfer (the “Extension Deposit”) to the Escrow Holder and as a condition to the effectiveness of such extension. Upon payment of the Extension Deposit, the Extension Deposit shall become part of the Deposit, as defined in Section 1.7 of the Agreement.

 

6.                                      3-14 Financial Audit Assistance. For a period up to seventy-five (75) days post-closing, and provided the request does not unduly burden the local hospital administrators, and at no cost or expense to Seller, Seller agrees to continue to provide 3-14 financial audit assistance and accounting data room access to Buyer and its accounting consultant. This provision shall survive Closing.

 

2

 

7.                                      Title.

 

(a)                                 Notwithstanding Section 3.4 of the Agreement to the contrary, Seller agrees that it shall perform the following at or prior to Closing:

 

(i)                                     Seller will obtain satisfaction and release of, cure, remove from the Title Reports, insure over, or bond off, those certain claims of lien attached hereto as Exhibit “A” and made a part hereof; and

 

(ii)                                  As to the Victor Farris Building, Seller will execute and deliver the termination of lease in the form attached hereto as Exhibit “B” and made a part hereof.

 

(b)                                 Notwithstanding Section 3.4 of the Agreement to the contrary, with respect to the outstanding Notices of Commencement referenced in the Title Report which may affect all or any portion of the Properties (“NOC’s”), Seller shall continue to work to meet prior to Closing those requirements of the Title Company which are acceptable to Seller, in Seller’s sole discretion, to allow the Title Company to be able to insure title to the Properties without any exceptions for such outstanding NOC’s. It shall be a condition precedent to Buyer’s obligation to close that the Title Company will insure, at Closing, title to the Properties without any exception for such outstanding NOC’s.

 

8.                                 Full Force and Effect. This Amendment is a part of the Agreement; provided, however, that in the event that there are any inconsistencies between the terms and provisions of this Amendment and the remaining portions of the Agreement, the terms and provisions of this Amendment shall govern, control and prevail. In all other respects, the Agreement shall be unchanged and shall remain in full force and effect. As an inducement to enter into this Amendment, Seller and Buyer each represent and warrant to the other, as applicable (i) that the execution and delivery of this Amendment has been fully authorized by all necessary action, (ii) that the person signing this Amendment has the requisite authority to do so and the authority and power to bind the party on whose behalf they have signed, and (iii) that to the best of their knowledge and belief, neither party is in default under the Agreement as of the date of this Amendment, and this Amendment is valid, binding and legally enforceable in accordance with its terms.

 

9.                                 Counterparts. This Amendment may be executed in any number of identical counterparts, any or all of which may contained the signatures of fewer than all of the parties but all of which shall be taken together as a single instrument. This Amendment may be executed by facsimile or “.pdf” signatures and a facsimile or “.pdf” of a signature shall have the same legal effect as an originally drawn signature.

 

10.                               Binding Effect; Entire Agreement; Governing Law. This Amendment is binding upon and inures to the benefit of the successor and permitted assigns of the parties. The Agreement as amended by this Amendment embodies the complete agreement between the parties with respect to the subject matter hereof. This Amendment shall be governed by and construed in accordance with the laws of the State of Florida.

 

3

 

11.                               Miscellaneous. The captions appearing in this Amendment are for convenience only and no way define, limit, construe or describe the scope or intent of any section or paragraph. This Amendment shall not be construed more or less favorably with respect to either party as a consequence of the Amendment or various provisions hereof have been drafted by one of the parties hereto.

 

[SIGNATURES APPEAR ON NEXT PAGES]

 

4

 

IN WITNESS WHEREOF, the parties have executed this Amendment as of the day, month and year first written above.

 

	
 
  	
SELLER:
  
	
 
  	
 
  
	
 
  	
/s/ Douglas E. Rabe
  
	
 
  	
DOUGLAS E. RABE, AS SUCCESSOR
  
	
 
  	
TRUSTEE PURSUANT TO THE FMC
  
	
 
  	
LAND TRUST AGREEMENT NO. 1001
  
	
 
  	
 
  
	
 
  	
TENET HIALEAH HEALTHSYSTEM,
 INC., a Florida corporation
  
	
 
  	
 
  
	
 
  	
By:
  	
/s/ Nicholas R. Bonrepos
  
	
 
  	
Name:
  	
Nicholas R. Bonrepos
  
	
 
  	
Title:
  	
Authorized Signatory
  
	
 
  	
 
  
	
 
  	
TENET HEALTHSYSTEM NORTH
 SHORE, INC., a Florida corporation
  
	
 
  	
 
  
	
 
  	
By:
  	
/s/ Nicholas R. Bonrepos
  
	
 
  	
Name:
  	
Nicholas R. Bonrepos
  
	
 
  	
Title:
  	
Authorized Signatory
  
	
 
  	
 
  	
 
  
	
 
  	
LIFEMARK HOSPITALS, INC., a
 Delaware corporation
  
	
 
  	
 
  	
 
  
	
 
  	
By:
  	
/s/ Nicholas R. Bonrepos
  
	
 
  	
Name:
  	
Nicholas R. Bonrepos
  
	
 
  	
Title:
  	
Authorized Signatory
  
	
 
  	
 
  	
 
  
	
 
  	
TENET GOOD SAMARITAN, INC., a
 Florida corporation
  
	
 
  	
 
  
	
 
  	
By:
  	
/s/ Nicholas R. Bonrepos
  
	
 
  	
Name:
  	
Nicholas R. Bonrepos
  
	
 
  	
Title:
  	
Authorized Signatory
  
	
 
  	
 
  	
 
  
	
 
  	
TENET ST. MARY’S INC., a Florida
 corporation
  
	
 
  	
 
  
	
 
  	
By:
  	
/s/ Nicholas R. Bonrepos
  
	
 
  	
Name:
  	
Nicholas R. Bonrepos
  
	
 
  	
Title:
  	
Authorized Signatory
  

 

5

 

	
 
  	
BUYER:
  
	
 
  	
 
  
	
 
  	
APPLEFIELD WAXMAN CAPITAL,
 INC., a Florida corporation
  
	
 
  	
 
  
	
 
  	
 
  
	
 
  	
By:
  	
/s/ Brian K. Waxman
  
	
 
  	
Name:
  	
Brian K. Waxman
  
	
 
  	
Title:
  	
President
  

 

6

 

EXHIBIT “A”

 

COPIES OF CLAIMS OF LIEN

 

[SEE ATTACHED]

 

7

 

 

CFN 20090329766

OR BK 23458 PG 1745

 

	
Recording requested by: One Call Property Services, Inc.
  	
 
  
	
When recorded, mail to:
  	
 
  
	
Name: Tenant Good Samaritan, Inc.
  	
Space above reserved for use by Recorders Office 
  
	
Address: PO Box 92129
  	
Document prepared by:
  
	
City: Southlake
  	
Name: One Call Property Services, Inc.
  
	
State/Zip: TX, 76092
  	
Address: 5955 SE Federal Hwy #405
  
	
 
  	
City/State/Zip: Stuart, FL 34997
  
	
 
  	
 
  
	
Claim of Lien

State of: Florida
 County of: Palm Beach
  	
RECORDED 09/23/2009 12:57:27
 Palm Beach County, Florida
 Sharon R. Bock, CLERK & COMPTROLLER
 Pg 1745; (1pg)
  

 

I, Tammy Ambrosius, being duly sworn, state the following: In accordance with an agreement to provide labor and/or material, I did furnish the following labor and/or materials:

Remediation and Reconstruction after water heater overflowed on the 9th Floor, (Flooding the floors below)

 

on the following described real property located in Palm Beach County, State of Florida, commonly known as: 1411 N Flagler Drive, West Palm Beach, FL 33401

 

and legally described as:

15-43-43, S 165 Ft of N 495 Ft of Gov Lt 6 (74-43-43-15-00-006-0100)

 

which property is owned by Tenant Good Samaritan, Inc., whose address is PO Box 92129, Southlake, TX, 76092-0102, of a total value of $112,086,85 of which there remains unpaid $112,086,85, and I further state that I furnished the first of the items on the date of June 21st 2009, and the last of the items on the date of July 14th 2009.

 

I hereby, under the laws of the State of Florida, claim a lien against the above-described property in the amount of money, stated above, which remains unpaid to me.

 

	
/s/ Tammy Ambrosius
  	
 
  	
Tammy Ambrosius - President
  
	
Signature of Person Claiming Lien 
  	
 
  	
Name of Person Claiming Lien
  
	
Address of Person Claiming lien:
  	
 
  	
 
  
	
5955 SE Federal Hwy #405
  	
 
  	
 
  
	
Stuart, FL 34997
  	
 
  	
 
  

 

On Sept 10th 2009, Tammy Ambrosius came before me personally and, under oath, stated that he/she is the person described in the above document and that he/she signed the above document in my presence.

 

	
/s/ Kathleen Wilson
  	
 
  	
 
  	
{Seal}
  
	
Notary Signature
  	
 
  	

  
	
 
  	
 
  
	
Notary Public,
 In and for the County of Martin, State of Florida
 My commission expires: 10/23/2011
  	
 
  

 

1

 

 

FILE NUM 20090357935 OR BOOK/PAGE 23493/0826 DATE: 10/14/2009 13:02:54 Pg 0826: (1pg)

Sharon R. Bock, CLERK & COMPTROLLER

 

	
Recording requested by: One Call Property Services Inc.
  	
 
  
	
When recorded, mail to:
  	
 
  
	
Name: Tenant Good Samaritan. Inc.
  	
Space above reserved for use by Recorders Office 
  
	
Address: PO Box 92129
  	
Document prepared by:
  
	
City: Southlake
  	
Name: One Call Property Services, Inc.
  
	
State/Zip: TX, 76092
  	
Address: 5955 SE Federal Hwy #405
  
	
 
  	
City/State/Zip: Stuart, FL 34997
  

 

Amended Claim of Lien

 

State of: Florida

County of: Palm Beach

 

I, Tammy Ambrosius, being duly sworn, state the following: In accordance with an agreement to provide labor and/pr material, I did furnish the following labor and/or materials:

Remediation after water heater overflowed on the 9th Floor, (Flooding the floors below)

 

on the following described real property located in Palm Beach County, State of Florida, commonly known as: 1411 N Flagler Drive, West Palm Beach, FL 33401

 

and legally described as:

15-43-43, S 165 Ft of N 495 Ft of Gov Lt 6 (74-43-43-15-00-006-0100)

 

which property is owned by Tenant Good Samaritan, Inc., whose address is PO Box 92129, Southlake, TX, 76092-0102, of a total value of $123,711,69 of which there remains unpaid $123,711.69, and I further state that I furnished the first of the items on the date of June 21st 2009, and the last of the items on the date of July 14th 2009.

 

I hereby, under the laws of the State of Florida, claim a lien against the above-described property in the amount of money, stated above, which remains unpaid to me.

 

	
/s/ Tammy Ambrosius
  	
 
  	
Tammy Ambrosius - President
  
	
Signature Person Claiming Lien 
  	
 
  	
Name of Person Claiming Lien
  
	
Address of Person Claiming lien:
  	
 
  	
 
  
	
5955 SE Federal Hwy #405
  	
 
  	
 
  
	
Stuart, FL 34997
  	
 
  	
 
  

 

On Sept 10th 2009, Tammy Ambrosius came before me personally and, under oath, stated that he/she is the person described in the above document and that he/she signed the above document in my presence.

 

	
/s/ Kathleen Wilson
  	
 
  	
 
  	
{Seal}
  
	
Notary Signature
  	
 
  	

  
	
 
  	
 
  
	
Notary Public,
 In and for the County of Martin, State of Florida
 My commission expires: 10/23/2011
  	
 
  

 

1

 

 

FILE NUM 20090382683 OR BOOK/PAGE 235250678 DATE: 11/02/2009 16:04:03 Pg 0678: (1pg) Sharon R. Bock, CLERK & COMPTROLLER

 

WARNING!

 

THIS LEGAL DOCUMENT REFLECTS THAT A CONSTRUCTION LIEN HAS BEEN PLACED ON THE REAL PROPERTY LISTED HEREIN. UNLESS THE OWNER OF SUCH PROPERTY TAKES ACTION TO SHORTEN THE TIME PERIOD, THIS LIEN MAY REMAIN VALID FOR ONE YEAR FROM THE DATE OF RECORDING, AND SHALL EXPIRE AND BECOME NULL AND VOID THEREAFTER UNLESS LEGAL PROCEEDINGS HAVE BEEN COMMENCED TO FORECLOSE OR TO DISCHARGE THIS LIEN.

 

SECOND AMENDED CLAIM OF LIEN

 

State of Florida

County of Palm Beach

 

Before me, the undersigned notary public, personally appeared Tammy Ambrosius, who was duly sworn and says that she is the President of the lienor herein, One Call Property Services, Inc., whose address is 7190 SE Federal Highway #4, Stuart, FL 34997; and that in accordance with a contract with Tenant Good Samaritan, Inc., lienor furnished labor, services, or materials consisting of remediation after water heater overflowed on the 9th floor including remediation work to floors below, on the following described real property in Palm Beach County, Florida; 1411 N. Flagler Dr., West Palm Beach, FL 33401.

 

15-43-43- S 165 Ft of N495 Ft of Gov Lt 6 (74-43-43-15-00-006-0100).

 

owned by Tenant Good Samaritan, Inc., whose address is P.O. Box 92129, Southlake, TX, 76092-0102, of a total value of $123,711,69, of which there remains unpaid $123,711,69, and furnished the first of the items on June 21, 2009, and the last of the items on July 24, 2009.

 

	
/s/ Tammy Amprosius
  	
 
  
	
Tammy Amprosius
  	
 
  

 

Sworn to and subscribed before me this 30th day October of 2009, by Tammy Ambrosius..

(Signature of Notary Public - State of Florida)

(Print Type, or Stamp Commissioned Name of Notary Public)

Personally Known x OR Produced Identification o

Type of Identification Produced [ILLEGIBLE]

 

	
/s/ Kathleen Wilson
  	
 
  	
(Seal)
  
	
Notary Signature
  	

  
	
 
  
	
Notary Public,
 In and for the County of Martin State of Florida
 My commission expires: 10/23/2011
  

 

1

 

	
CLAIM OF LIEN 

[ILLEGIBLE]
  	
RAMCO FORM 129%
  	

  
	
 
  
	
 
  
	
 
  
	
Claim of Lien
  
	
 
  
	
Name: 
  	
R.E.N.O. INC.
  
	
 
  	
 
  
	
Address: 
  	
7274 S.W. 48 Street
  
	
 
  	
Miami, FL 33155
  	
 
  
	
 
  	
 
  	
 
  
	
This Instrument Prepared by:
  	
 
  
	
Name:
  	
MBZ SERVICES / ZAHLENE ENGINEERING
  	
 
  
	
 
  	
8788 NW 181 STREET
  	
 
  
	
Address:
  	
MIAMI FLORIDA 33018
  	
 
  
	
 
  	
BEATRIZ ZAHLENE
  	
 
  
	
 
  	
 
  
	
Property  [ILLEGIBLE]
  	
 
  
	
 
  	
 
  
	
Folio Number(1):
  	
 
  
					

 

	
SPACE ABOVE THIS LINE FOR RECORDING DATA
  	
SPACE ABOVE THIS LINE FOR RECORDING DATA
  

 

THIS LEGAL DOCUMENT REFLECTS THAT A CONSTRUCTION LIEN HAS BEEN PLACED ON THE REAL PROPERTY LISTED HEREIN. UNLESS THE OWNER OF SUCH PROPERTY TAKES ACTION TO SHORTEN THE TIME PERIOD, THIS LIEN MAY REMAIN VALID FOR ONE YEAR FROM THE DATE OF RECORDING, AND SHALL EXPIRE AND BECOME NULL AND VOID THEREAFTER UNLESS LEGAL PROCEEDINGS HAVE BEEN COMMENCED TO FORECLOSE OR TO DISCHARGE THIS LIEN.

 

	
STATE OF FLORIDA
  	

  
	
COUNTY OF MIAMI DADE
  

 

Before me, the undersigned Notary Public, personally appeared BEATRIZ ZAHLENE Who was duly sworn and says that he is (the lienor herein) (the agent of the lienor herein)

(DELETE ONE)

 

MBZ SERVICES / ZAHLENE ENGINEERING                                                                                       

(Lienor’s Name)

 

whose address is 8788 NW 181 STREET, MIAMI FLORIDA 33018.

(Lienor’s Address)

 

and that in accordance with a contract with THOMASEVICH CONST INC.

11201 LAUREL WALK ROAD WELLINGTON FLORIDA 33449.

 

lienor furnished labor, services or materials consisting of: (Describe specially fabricated materials separately)

 

SAND AND FILL

 

on the following described real property in MIAMI DADE County, State of FLORIDA:

(Describe real property sufficiently for identification, including street and number, if known)

 

2001 WEST 68 STREET, HIALEAH FLORIDA

TRACTS 53,54,55,56 & TRACT 59 FLORIDA FUIT LANDS COMPANY’S SUBDIV NO 1 OF SEC 27/52140PLAT BOOK 2/17 AS RECORDED IN THE PUBLIC RECORDS OF MIAMI DADE COUNTY FLORIDA.

owned by LIFEMARK HOSPITALS OF FLORIDA INC.d/b/a PALMETTO GENERAL HOSPITAL of a total value of SIX THOUSAND FIVE HUNDRED TWENTY FIVE dollars ($6,525.00) of which there remains unpaid $6,525,000 and furnished the first of the items on 2-18-10,    and the first of  the items on JOB PENDING, and (if the lien is claimed by one not in privity with the owner) that the lienor served his notice to owner on 3-10-10,                    , by CERTIFIED MAIL (Method of Service) and, (if required) that the lienor served copies of the notice on the contractor on            ,               by                      , (Method of Service) and on the subcontractor,

on                  ,              , by                                   (Method of Service)

 

	
 
  	
 
  	
 
  
	
 
  	
 
  	
Lienor Signature
  
	
 
  	
 
  	
MBZ SERVICES / ZHLENE ENGINEERING
  
	
 
  	
 
  	
Printed Name
  
	
 
  	
By
  	
/s/ Beatriz Zahlene
  
	
 
  	
 
  	
Agent Signature
  
	
 
  	
 
  	
Beatriz Zahlene
  
	
 
  	
 
  	
Printed Name
  

 

STATE OF FLORIDA               )

COUNTY OF MIAMI DADE    )

 

Sworn to and subscribed before me this 17th day of May 2010. (Check one:) x Afflant is personally known to me. o Afflant provided the following type of identification:                                                .

 

	

  	
/s/ Marisol Padron
  
	
Notary Signature
  
	
Marisol Padron
  
	
Printed Name
  

 

1

 

	
Return to self-addressed & Stamped Envolop
  	
 
  	

  
	
Name
  	
BARREIRO CONCRETE MATERIALS INC.
  	
 
  
	
Address
  	
9409 NW 109th Street
  	
 
  
	
 
  	
Medley, Florida 33178
  	
 
  
	
 
  	
 
  	
 
  
	
 
  	
 
  
	
This Instrument Prepared by:
  	
 
  	
 
  
	
 
  	
Merians R. Molina
  	
Lien served via Certified Mail: 
  
	
Address:
  	
BARREIRO CONCRETE MATERIALS INC.
  	
 
  	
 
  
	
 
  	
9409 NW 109th Street
  	
Hialeah Hospital Inc.
  	
 
  
	
 
  	
Medley, Florida 33178
  	
Florida Engineering & Development Corp.
  	
 
  
	
Property Appraisers Parcel Identification (Folio) Number (s):
  	
The Terracon Group, Inc.
  	
 
  
							

 

 

	
SPACE ABOVE THIS LIEN FOR PROCESSING DATA
  	
SPACE ABOVE THIS LIEN FOR PROCESSING DATA
  

 

CLAIM OF LIEN

 

	
STATE OF
  	
FLORIDA
  
	
COUNTY OF
  	
DADE
  

 

Before me, the undersigned Notary Public, personally appeared AMERICO BARREIRO who was duly sworn and says that he is the (the lienor herein) (the agent of the lienor herein)

 

	
 
  	
BARREIRO CONCRETE MATERIALS INC.
  	
 
  
	
 
  	
LIENOR’S NAME
  	
 
  
	
whose address is
  	
9409 NW 109th Street Medley Florida 33178
  	
 
  
	
 
  	
(LIENOR’S ADDRESS)
  	
 
  

 

and that in accordance with a contract with  Florida Engineering & Development Corp. 14505 Commerce Way Suite 750, Miami Lakes, FL 33016  lienor furnished labor, services or materials consisting of:(Describe specially fabricated materials separately)

 

CONCRETE  LABOR AND MATERIALS

 

WARNING! THIS LEGAL DOCUMENT REFLECTS THAT A CONSTRUCTION LIEN HAS BEEN PLACED ON THE REAL PROPERTY LISTED HEREIN.  UNLESS THE OWNER OF SUCH PROPERTY TAKES ACTION TO SHORTEN THE TIME PERIOD, THIS LIEN MAY REMAIN VALID FOR 1 YEAR FROM THE DATE OF RECORDING, AND SHALL EXPIRE AND BECOME NULL AND VOID THEREAFTER UNLESS LEGAL PROCEDINGS HAVE BEEN COMMENCED THE FORECLOSE OR TO DISCHARGE THIS LIEN.

 

On the following described real property in DADE County, State a FLORIDA  (Described real property sufficiently for identification, Including [ILLEGIBLE]

 

2600 E 5 AVE / A/D/A/ 572 E 26 ST HIALEAH HIALEAH HOSPITAL PARKING LOT SEC 8-53/41 PS 34 PG 26 HIALEAH 13TH ADDN AMD PL REV 7 B/2 OF ALLEY LYG 5 [ILLEGIBLE] ADJ REF FOLIO #04-3108-001-1880 DADE COUNTY, FL NO NOC/BOND AVAILABLE

 

Owned by Hialeah Hospital, Inc. c/o Complex Property Advisors Corp., P.O.BOX 92129, Southlake, TX 76992 of a total value of  FOUR THOUSAND EIGHT HUNDRED SIXTY SEVEN Dollars [ILLEGIBLE] of which there remarks unpaid $2,780.55, and furnished the first of the items on  July 1, 2009 and the last of the items on July 6, 2009 and (if the lien is claimed by one not in privity with the owner)  that the listeor served his notice to owner on 8/11/2009 by Certified Mail No. 7007 2560 0002 7626 5243 (Method of Service) and, (if required) that the lienor served copies of the notice on the contractor on                                    by                                     (Method of Service) and on the Surety                                     on                                     by                                    (Method of Service)

 

	
 
  	
 
  	
/s/ Americo Barreiro
  
	
 
  	
 
  	
Lienor Signature
  
	
 
  	
 
  	
 
  
	
 
  	
 
  	
BARREIRO CONCRETE MATERIALS INC
  
	
 
  	
 
  	
 
  
	
 
  	
By:
  	
Americo Barreiro
  
	
 
  	
 
  	
AGENT SIGNATURE
  
	
 
  	
 
  	
Americo Barreiro
  
	
 
  	
 
  	
PRINTED NAME
  

 

Sworn to and subscribed before me this 5TH day of OCTOBER 2009 by Americo Barreiro

 

	

  	
/s/ Mariana Molina
  
	
Notary Signature
  
	
Mariana Molina
  
	
My commission expires April 19th 2010
  

 

1

 

	
Prepared By: ARTHUR YOUNG
  	
 
  	

  
	
Return to: United Rentals
  	
 
  
	
6125 Lakeview Road
  	
 
  
	
STE 300
  	
 
  
	
Charlotte N.C. 28269
  	
 
  
	
704-916-4827
  	
 
  
	
Date: July, 07 2010
  	
 
  

 

CLAIM OF LIEN

(Per Chapter 713 of the Florida Statues)

 

WARNING: THIS LEGAL DOCUMENT REFLECTS THAT A CONSTRUCTION LIEN HAS BEEN PLACED ON THE REAL PROPERTY LISTED HEREIN. UNLESS THE OWNER OF SUCH PROPERTY TAKES ACTION TO SHORTEN THE TIME PERIOD, THIS LIEN MAY REMAIN VALID FOR ONE YEAR FROM THE DATE OF RECORDING, AND SHALL EXPIRE AND BECOME NULL AND VOID THEREAFTER UNLESS LEGAL PROCEEDINGS HAVE BEEN COMMENCED TO FORECLOSE OR TO DISCHARGE THIS LIEN.

 

MIAMI-DADE COUNTY

STATE OF FLORIDA

 

Before me, the undersigned authority, personally appeared Leo Pernas, who being duly sworn, says that he/she is the authorized agent for the lienor herein, United Rentals whose address is 4301 NW 27TH AVENUE, MIAMI, FLORIDA 33142, and that in accordance with a contract with THOMASEVICH CONSTRUCTION INC, 1093953 for miscellaneous equipment rentals, sales, service, repairs, and related items, on the following described real property or leasehold in MIAMI-DADE COUNTY, FLORIDA:

 

for the improvement of real property indentified as:

 

FOLIO 0420270010660 TRACTS 53-56 & 59 FL FRUIT LANDS CO SUBD #1, SECTION 27

TOWNSHIP 52 RANGE 40, MIAMI DADE COUNTY FLORIDA MORE PARTICULARLY

DESCRIBED IN OR BOOK 27033 PAGE 3766;

2001 W 68TH ST, HIALEAH, PARKING LOT

 

under an order given by: THOMASEVICH CONST INC

 

	
OWNED BY:
  	
LIFEMARK HOSPITALS FL INC
  
	
 
  	
PALMETTO GENERAL HOSPITAL
  
	
 
  	
3820 STATE ST
  
	
 
  	
SANTA BARBARA CA 93105
  

 

For a total value of $14,772.84 of which $11303.34 remains unpaid for which United Rentals claims a lien on the above-described real property.

 

He further states that the lienor furnished the first of same on 03/05/2010 the last of the same on 06/17/10 the (if the lien is claimed by one not in privity with the owner that) the lienor served his Notice to the Owner on 04/09/10 by Certified mail 71073226748015459243, to the Owner by certified mail 71073226748015459250, to the General Contractor 71073226748015459274, to Financier by certified mail # N/A, and to Surety/Bond # N/A, and to other interested parties via Certified Mail 71073226748015459267. United Rentals is in Privity with the Owner.

 

Under penalties of perjury I declare that I have read the foregoing and the facts alleged are true, to the best of my knowledge and belief.

 

	
 
  	
/s/ Leo Pernas
  
	
 
  	
Authorized Agent/United Rentals, Inc
  

 

Sworn to and subscribed to before me 7/13/10 by Leo Pernas who is personally known to me.

 

	
 
  	
/s/ Lissette Pantoja
  
	
 
  	
Notary signature
  

 

	
My Commission Expires
  	

  
	
 
  

 

1

 

EXHIBIT “B”

 

COPY OF TERMINATION OF LEASE

 

THIS INSTRUMENT PREPARED BY:

Gregg H. Fierman, Esq.

McDermott Will & Emery LLP

201 South Biscayne Boulevard

Suite 2200

Miami, Florida 33131

 

TERMINATION OF LEASE

 

THIS TERMINATION OF LEASE (“Termination”) is made as of the       day of    , 2010, by TENET GOOD SAMARITAN. INC., a Florida corporation, whose post address is c/o Tenet Healthcare Corporation, 1445 Ross Avenue, Suite 1400, Dallas, Texas 75202 Attn: Nicholas Bonrepos (“Tenet”).

 

WITNESSETH:

 

WHEREAS, by that certain Ground Lease Agreement dated September 12, 1986 (the “Lease”), by and between Good Samaritan Hospital, Inc., a Florida not-for-profit corporation (“Hospital”), as landlord, and Good Samaritan Health Systems, Inc., a Florida not-for-profit corporation (“Systems”), as tenant, Hospital leased to Systems that certain real property located in Palm Beach County, Florida, as more particularly described in Exhibit A attached hereto and made a part hereof (the “Premises”), and which Lease was evidenced by that certain Memorandum of Lease dated September 12, 1986, and recorded in Official Records Book 5007, Page 1784, of the Public Records of Palm Beach County, Florida (the “Memorandum”); and

 

WHEREAS, Systems conveyed to Hospital, by that certain Special Warranty Deed Transferring Title to Improvements dated November 30, 1995, the improvements located on the Premises (the “Improvements”), subject to the terms of the Lease;

 

WHEREAS, Systems assigned its rights as tenant under the Lease to Hospital by that certain Assignment of Ground Lease dated November 30, 1995, and recorded in Official Records Book 9014, Page 908, of the Public Records of Palm Beach County, Florida; and

 

WHEREAS, Hospital subsequently assigned its rights under the Lease to Tenet by that certain Memorandum of Lease Assignment dated July 1, 2001, and recorded in Official Records Book 13867, Page 579, of the Public Records of Palm Beach County, Florida; and

 

WHEREAS, Hospital conveyed to Tenet fee simple title to the Premises, including the Improvements, by virtue of that certain Special Warranty Deed dated July 1, 2001, and recorded in Official Records Book 12694, Page 1877, and that certain Corrective Special Warranty Deed dated July 1, 2001, and recorded in Official Records Book 12909, Page 110, all of the Public Records of Palm Beach County, Florida; and

 

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WHEREAS, Tenet is the current holder of all of the rights, title and interest of the landlord and the tenant under the Lease; and

 

WHEREAS, Tenet desires to confirm the termination of the Lease and to confirm in the public records that the Lease (and the Memorandum) have been terminated and are null, void and of no further force or effect.

 

NOW, THEREFORE, for and in consideration of the sum of Ten and No/100 Dollars ($10.00) and other valuable considerations, the receipt and sufficiency of which are hereby acknowledged, Tenet hereby states as follows:

 

1.             The foregoing recital are true and correct and made a part hereof.

 

2.             Tenet hereby confirms that the Lease has been terminated and that the Lease and the Memorandum are null, void and of no further force or effect.

 

[SIGNATURE APPEARS ON NEXT PAGE]

 

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IN WITNESS WHEREOF, Tenet has caused this Termination to be duly executed and sealed as of the date first above written.

 

	
WITNESSES:
  	
 
  	
TENET:
  
	
 
  	
 
  	
 
  
	
 
  	
 
  	
TENET GOOD SAMARITAN. INC., a Florida corporation
  
	
 
  	
 
  	
 
  
	
 
  	
 
  	
 
  
	
Print Name:
  	
 
  	
 
  	
By:
  	
 
  
	
 
  	
 
  	
Print Name:
  	
 
  
	
 
  	
 
  	
Title:
  	
 
  
	
Print Name:
  	
 
  	
 
  	
 
  	
 
  
	
 
  	
 
  	
 
  	
 
  	
 
  
	
STATE OF
  	
)
  
	
 
  	
)SS:
  
	
COUNTY OF
  	
)
  
								

 

The foregoing instrument was acknowledged before me this      day of        , 2010, by        , as a/the         of TENET GOOD SAMARITAN. INC., a Florida corporation, on behalf of said entity. He is personally known to me or has produced                  as identification.

 

 

	
 
  	
 
  
	
 
  	
Print Name:
  	
 
  
	
 
  	
Notary Public
  	
 
  
	
 
  	
State of
  	
 
  
	
 
  	
My Commission Expires:
  

 

10

 

EXHIBIT A

LEGAL DESCRIPTION

 

The South 165 feet of the North 495 feet of Government Lot 6, Section 15, Township 43 South, Range 43 East, West Palm Beach, Palm Beach County, Florida.

 

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