SEC Contract Filing

Filing Date: 2017-05-12

Document Content:
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>4
<FILENAME>gahr48-kx051217exh103.htm
<DESCRIPTION>EXHIBIT 10.3
<TEXT>
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<div><a name="s5369DEF47DE9587C2834D4E7062CD2D5"></a></div><div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">EXHIBIT 10.3</font></div></div><div><br></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">FIRST AMENDMENT TO</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">CLOSING AGREEMENT</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">THIS FIRST AMENDMENT TO CLOSING AGREEMENT (this &#8220;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Amendment</font><font style="font-family:inherit;font-size:10pt;">&#8221;) is made and entered into effective as of the 10</font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">TH</sup></font><font style="font-family:inherit;font-size:10pt;">&#32;day of May, 2017 by and between GAHC4 SW Illinois Senior Housing Portfolio, LLC, a Delaware limited liability company (&#8220;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Griffin</font><font style="font-family:inherit;font-size:10pt;">&#8221;) and CSL-Illinois I, LLC, an Oregon limited liability company (&#8220;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">CSL</font><font style="font-family:inherit;font-size:10pt;">&#8221;).</font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">RECITALS</font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">A.&#160;&#160;&#160;&#160;Griffin, A&amp;M Property Holdings, LLC, an Illinois limited liability company (&#8220;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Seller</font><font style="font-family:inherit;font-size:10pt;">&#8221;) and Garden Place, LLC, an Illinois limited liability company (the &#8220;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Operator</font><font style="font-family:inherit;font-size:10pt;">&#8221;) are parties to that certain Purchase and Sale Agreement dated as of March 13, 2017 (as amended, the &#8220;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">PSA</font><font style="font-family:inherit;font-size:10pt;">&#8221;) pursuant to which Seller and Operator have agreed to sell to Griffin, and Griffin has agreed to purchase from Seller and Operator, the Real Property Assets (as such term is defined in the PSA), including the five (5) facilities as more particularly described in the PSA. </font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">B.&#160;&#160;&#160;&#160;in conjunction with the PSA, Griffin and CSL entered into that certain Closing Agreement dated as of March 13, 2017 (the &#8220;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Closing Agreement</font><font style="font-family:inherit;font-size:10pt;">&#8221;) pursuant to which the parties stated their desire to reach an agreement regarding the form and substance of certain other documents to be executed and delivered at Closing; and</font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">C.&#160;&#160;&#160;&#160;Griffin and CSL have now reached an agreement on the form and substance of certain documents to be executed at Closing and desire to amend the Closing Agreement to incorporate such documents into the Closing Agreement through this Amendment. Capitalized terms not defined herein shall have the meaning given to them in the Closing Agreement. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">NOW, THEREFORE</font><font style="font-family:inherit;font-size:10pt;">, for Ten and No/100 Dollars ($10.00) in hand paid and in consideration of the covenants and agreements herein contained, the adequacy and sufficiency of which are hereby acknowledged by the parties, the parties hereto mutually agree as follows:</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></f