Document:

Exhibit

Exhibit 10.126

FIRST AMENDMENT TO SUBLEASE AGREEMENT

THIS FIRST AMENDMENT TO SUBLEASE AGREEMENT (the “Amendment”) is made and entered into as of the 14th day of August, 2015, by and between 2014 HUD MASTER TENANT, LLC, a Georgia limited liability company (“Sublessor”) and C.R. OF GLENVUE, LLC, a Georgia limited liability company (“Sublessee”).  

W I T N E S S E T H:

WHEREAS, Sublessor and Sublessee have entered into that certain Sublease Agreement dated July 1, 2015 for that certain skilled nursing facility located at 721 North Veterans Boulevard, Glennville, Georgia 30427 (the “Sublease”); and

WHEREAS, Sublessor and Sublessee desire to amend the Sublease as hereinafter set forth.
    
NOW, THEREFORE, for and in consideration of the sum of Ten and No/100 Dollars ($10.00) and other good and valuable consideration, paid by each party to the other, the receipt and sufficiency of which are hereby acknowledged, and the mutual covenants and benefits flowing between the parties, Sublessor and Sublessee, intending to be legally bound, do hereby covenant and agree as follows:

1.Capitalized Terms.  Unless otherwise defined herein, all capitalized words and phrases used herein shall have the same meanings ascribed to them in the Sublease.

2.Term.  Section 2 of the Sublease is hereby deleted in its entirety and the following substituted in lieu thereof: 

2.    Term.  A “Sublease Year” is the twelve (12) month period commencing on July 1, 2015 and each anniversary thereof during each year of the Term.  The “Initial Term” commenced on July 1, 2015 (the “Commencement Date”) and ends on June 30, 2025 and may be extended for one (1) separate renewal term of five (5) years (the “Renewal Term”) if:  (a) at least one hundred eighty (180) days prior to the end of the Initial Term, Sublessee delivers to Sublessor the “Renewal Notice” indicating that Sublessee desires to exercise its right to extend this Sublease for the  Renewal Term and (b) there is no then uncured Event of Default (i) as of the date Sublessor receives the Renewal Notice (the “Exercise Date”), or (ii) on the last day of the Initial Term and (c) Tenant and any Affiliate of Tenant that leases any additional facility from Landlord or Landlord’s Affiliates concurrently deliver appropriate Renewal Notice(s) exercising all renewal options for all such facilities.  For purposes hereof, “Termination Date” shall mean the last day of the Initial Term or the Renewal Term (if any) or the earlier date on which this Sublease may be terminated as provided herein and “Term” shall mean the Initial Term plus the Renewal Term (if any).   

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3.Rent.  Section 3 of the Sublease is hereby deleted in its entirety and the following substituted in lieu thereof: 

3.1    Initial Term Rent.  Commencing with the Rent due on August 1 of the Initial Term, “Rent” shall be equal to Ninety-five Thousand and 00/100 Dollars ($95,000.00) per month through the end of the first Sublease Year.  During each subsequent Sublease Year of the Initial Term, “Rent” shall be equal to one-hundred three percent (103%) of the Rent due for the immediately preceding Sublease Year.
3.2    Renewal Term Rent.  To establish a fair market Rent for the Premises during the Renewal Term, the Rent for the Renewal Term shall be reset and expressed as an annual amount equal to the greater of (a) the Fair Market Rental of the Premises as established pursuant to Exhibit C-1 or (b) one hundred three percent (103%) of the Rent due for the immediately preceding Sublease Year.  Commencing with the second (2nd) Sublease Year of the Renewal Term, the Rent due each Sublease Year shall equal the amount of the Rent payable for the immediately preceding Sublease Year as increased by three percent (3%).
 
4.Agreement in Effect.  Except as herein specifically provided, all other terms and provisions of the Sublease shall remain in full force and effect, and are hereby ratified and reaffirmed by the parties.

[Signatures on Following Page]

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IN WITNESS WHEREOF, the undersigned have executed this Amendment as of the date first above written.

SUBLESSOR:

2014 HUD MASTER TENANT, LLC,
a Georgia limited liability company 

 
By:    /s/ William McBride
Name:    William McBride
Title:    Manager

SUBLESSEE:

C.R. OF GLENVUE, LLC,
a Georgia limited liability company  

By:    /s/ Michael E. Winget, Sr.
Name:    Michael E. Winget, Sr.
Title:    Manager
 

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Exhibit 10.127

SECOND AMENDMENT TO LEASE AGREEMENT

THIS SECOND AMENDMENT TO LEASE AGREEMENT (the “Amendment”) is made and entered into as of the 24th day of September, 2015, by and between GEORGETOWN HC&R PROPERTY HOLDINGS, LLC, a Georgia limited liability company (“Lessor”) and BLUE RIDGE IN GEORGETOWN, LLC, a South Carolina limited liability company (“Tenant”).  

W I T N E S S E T H:

WHEREAS, Lessor and Tenant are parties to that certain lease dated February 27, 2015, as amended pursuant to that certain First Amendment to Lease Agreement dated March 20, 2015 (as amended, the “Lease”), whereby Tenant leased certain improved property located at 2175 South Island Road, Georgetown, South Carolina 29440; and 

WHEREAS, Lessor and Tenant desire to further amend the Lease as hereinafter set forth.
    
NOW, THEREFORE, for and in consideration of the sum of Ten and No/100 Dollars ($10.00) and other good and valuable consideration, paid by each party to the other, the receipt and sufficiency of which are hereby acknowledged, and the mutual covenants and benefits flowing between the parties, Lessor and Tenant, intending to be legally bound, do hereby covenant and agree as follows:

1.Capitalized Terms.  Unless otherwise defined herein, all capitalized words and phrases used herein shall have the same meanings ascribed to them in the Lease.

2.Base Rent.  Section 2.1(a) of the Lease is hereby deleted in its entirety and the following is inserted in lieu thereof:

2.1     Base Rent.  
(a)    Lease Year One.  Commencing on October 1, 2015, Base Rent shall be Twenty-Six Thousand and 00/100 Dollars ($26,000.00) per month.
3.Agreement in Effect.  Except as herein specifically provided, all other terms and provisions of the Lease shall remain in full force and effect, and are hereby ratified and reaffirmed by the parties.

[SIGNATURES COMMENCE ON THE FOLLOWING PAGE]

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IN WITNESS WHEREOF, the undersigned have executed this Amendment as of the date first above written.

LESSOR:

GEORGETOWN HC&R PROPERTY 
HOLDINGS, LLC,
a Georgia limited liability company 

 
By:    /s/ William McBride
Name:    William McBride
Title:    Manager

LESSEE:

BLUE RIDGE IN GEORGETOWN, LLC,
a South Carolina limited liability company  

By:    /s/ Levi Rudd
Name:    Levi Rudd
Title:    CEO

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Exhibit 10.128

 FIRST AMENDMENT TO SUBLEASE AGREEMENT

THIS FIRST AMENDMENT TO SUBLEASE AGREEMENT (the “Amendment”) is made and entered into as of the 10th day of September, 2015, (the “Execution Date”) but effective upon the Effective Date (as hereinafter defined), by and between ADK GEORGIA, LLC, a Georgia limited liability company (“Sublessor”) and LC SNF, LLC, a Florida limited liability company (“Sublessee”).  

W I T N E S S E T H:

WHEREAS, pursuant to that certain lease dated August 1, 2010, as amended (the “Master Lease”), Sublessor leased from William F. Foster (“Landlord”) the premises described in the master Lease; 

WHEREAS, Sublessor and Sublessee have entered into that certain Sublease Agreement dated October 31, 2014 for that certain skilled nursing facility located at 245 Highway 19, Lumber City, Georgia 31549 (the “Sublease”); and

WHEREAS, Sublessor and Sublessee desire to amend the Sublease as hereinafter set forth.
    
NOW, THEREFORE, for and in consideration of the sum of Ten and No/100 Dollars ($10.00) and other good and valuable consideration, paid by each party to the other, the receipt and sufficiency of which are hereby acknowledged, and the mutual covenants and benefits flowing between the parties, Sublessor and Sublessee, intending to be legally bound, do hereby covenant and agree as follows:

1.Capitalized Terms.  Unless otherwise defined herein, all capitalized words and phrases used herein shall have the same meanings ascribed to them in the Sublease.

2.Effective Date.  This Amendment shall become effective upon Landlord’s written approval (such date is referred to herein as the “Effective Date”). 

3.Term.  Section 2 of the Sublease is hereby deleted in its entirety and the following substituted in lieu thereof: 

2.    Term.  A “Lease Year” is the twelve (12) month period commencing on November 1 and each anniversary thereof during the Term.  The “Term” commenced on November 1, 2014 and ends on August 31, 2027, unless sooner terminated as provided herein.  This Sublease is subject to the Master Lease and all of the terms, covenants and conditions in the Master Lease are applicable to this Sublease with the same force and effect as if Sublessor were the lessor under the Master Lease and Sublessee were the lessee thereunder. 

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4.Rent.  Section 3 of the Sublease is hereby deleted in its entirety and the following is inserted in lieu thereof:

3.    Rent.  During the Term, Tenant shall pay in advance to Landlord on or before the first day of each month the following amounts as Rent: 
3.1    First Lease Year.  Commencing with the Rent due on November 1, 2014, Rent shall be equal to Seventy Thousand Hundred and 00/100 Dollars ($70,000.00) per month through October 31, 2015 (the first “Lease Year”). 

3.2    Subsequent Lease Years.  Commencing on November 1, 2015 and continuing during the Lease Years two (2) through five (5), Rent shall increase each Lease Year by two percent (2%) over Rent paid during the immediately preceding Lease Year.  Commencing with the sixth (6th) Lease Year and during each subsequent Lease Year through the end of the Term, Rent shall increase each Lease Year by two and one-half percent (2.5%) over Rent paid during the immediately preceding Lease Year. 

5.Security Deposit.  Section 7 of the Sublease is hereby deleted in its entirety and the following is inserted in lieu thereof:

7.    Security Deposit.  Sublessee has deposited with Sublessor and shall maintain during the Term the sum of Seventy Thousand and 00/100 Dollars ($70,000.00) as a security deposit (the “Security Deposit”) against the faithful performance by (i) Sublessee of its obligations under this Sublease and (ii) any affiliate of Sublessee under any lease or sublease with Sublessor or any affiliate of Sublessor.  
 
6.Default.  Section 14 of the Sublease is hereby deleted in its entirety and the following is subtracted in lieu thereof: 

(a)    The following shall be deemed to be events of default by Sublessee:  (i) Sublessee shall fail to pay when due any installment of Base Rent or any other charge or assessment against Sublessee pursuant to the terms of this Sublease and such failure shall continue for a period of five (10) days after Sublessor’s notice to Sublessee thereof; (ii) Sublessee shall fail to comply in every respect with any term, provision, covenant, or warranty made under this Sublease by Sublessee and shall not cure such failure within thirty (30) days after notice thereof to Sublessee; provided that if any such failure is not curable by its nature within such thirty-day period, then Sublessee shall have such additional time as necessary to cure the same; (iii) Sublessee shall fail to comply in any respect with any term, provision, covenant or warranty under the Master Lease; (iv) Sublessee shall do, or permit to be done anything which creates a lien upon the Premises which lien is not removed by payment or bond within twenty (20) days after Sublessee receives notice thereof or (v) a material default by Sublessee or any affiliate of Sublessee under any other lease, sublease, agreement or obligation between it and Sublessor or any of Sublessor’s affiliates which is not cured within any applicable cured period specified therein.

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(b)    Upon the occurrence of an aforesaid events of default, Sublessor shall have the option to pursue any one or more of the following remedies without any notice or demand whatsoever:  (i) terminate this Sublease, in which event Sublessee shall immediately surrender the Premises to Sublessor, and if Sublessee fails to do so, Sublessor may without prejudice to any other remedy which it may have for possession or arrearage in Base Rent, enter upon and take possession of the Premises and expel or remove Sublessee and any other person who may be occupying the Premises or any part thereof, by force, if necessary, as permitted by Georgia law without being liable for prosecution or any claim of damages therefor; Sublessee hereby agreeing to pay to Sublessor on demand the amount of all Base Rent and other charges accrued through the date of termination; (ii) enter upon and take possession of the Premises and expel or remove Sublessee and any other person who may be occupying the Premises or any part thereof, by force, if necessary, as permitted by Georgia law, without being liable for prosecution or any claim of damages thereof and, if Sublessor so elects, relet the Premises on such terms as Sublessor may deem advisable, in its sole discretion, without advertisement, and by private negotiations provided that if Sublessor succeeds in re-letting the Premises and receives the rent therefor, Sublessee hereby agrees to pay to Sublessor the deficiency, if any, between all Rent reserved hereunder and the total rental applicable to the Term hereof obtained by Sublessor through such re-letting, and Sublessee shall be liable for Sublessor's expenses in restoring the Premises and all costs incident to such re-letting; (iii) enter upon the Premises by force if necessary as permitted by Georgia law, without being liable for prosecution or any claim of damages therefor, and do whatever Sublessee is obligated to do under the terms of this Sublease; and Sublessee agrees to reimburse Sublessor on demand for any expenses including, without limitation, reasonable attorney's fees which Sublessor may incur in thus effecting compliance with Sublessee's obligations under this Sublease and Sublessee further agrees that Sublessor shall not be liable for any damages resulting to Sublessee from such action.

(c)    Notwithstanding any provision hereof, in the event (i) Sublessee defaults under this Sublease and/or the Master Lease or (ii) the entering into of this Sublease results in Lessor giving notice of default under the Master Lease, Sublessor shall have the right to terminate this Sublease immediately.  

(d)    The remedies provided for herein are cumulative and in addition to any other remedy provided by law or at equity.  No action taken by or on behalf of Sublessor shall be construed to be an acceptance of a surrender of this Sublease.  Forbearance by Sublessor to enforce one or more of the remedies herein provided upon an event of default shall not be deemed or construed to constitute a waiver of such default.

7.Agreement in Effect.  Except as herein specifically provided, all other terms and provisions of the Sublease shall remain in full force and effect, and are hereby ratified and reaffirmed by the parties.

[Signatures on Following Page]

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IN WITNESS WHEREOF, the undersigned have executed this Amendment as of the date first above written.

SUBLESSOR:

ADK GEORGIA, LLC,
a Georgia limited liability company 

 
By:    /s/ William McBride
Name:    William McBride
Title:    Manager

SUBLESSEE:

LC SNF, LLC,
a Florida limited liability company  

By:    /s/ Bruce Wertheim
Name:    Bruce Wertheim
Title:    Manager 

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