Contract
Exhibit 10.74
MASTER LEASE AGREEMENT
THIS FOURTH AMENDMENT TO AMENDED AND RESTATED MASTER LEASE AGREEMENT (“Fourth Amendment”) is dated as of December 27, 2002 (the “Fourth Amendment Effective Date”) by and among HEALTH CARE REIT, INC., a corporation organized under the laws of the State of Delaware (“HCRI” and a “Landlord”), HCRI INDIANA PROPERTIES, LLC, a limited liability company organized under the laws of the State of Indiana (“HCRI-IN” and a “Landlord”), HCRI NORTH CAROLINA PROPERTIES, LLC, a limited liability company organized under the laws of the State of Delaware (“HCRI-NC” and a “Landlord”), HCRI TENNESSEE PROPERTIES, INC., a corporation organized under the laws of the State of Delaware (“HCRI-TN” and a “Landlord”), HCRI TEXAS PROPERTIES, LTD., a limited partnership organized under the laws of the State of Texas (“HCRI-TX” and a “Landlord”), and HCRI WISCONSIN PROPERTIES, LLC, a limited liability company organized under the laws of the State of Wisconsin (“HCRI-WI” and a “Landlord”), each Landlord having its principal office located at Xxx XxxXxxx, Xxxxx 0000, X.X. Xxx 0000, Xxxxxx, Xxxx 00000-0000, and ALTERRA HEALTHCARE CORPORATION, a corporation organized under the laws of the State of Delaware (“Tenant”), having its chief executive office located at 00000 Xxxxxxxxxx Xxxxx, Xxxxxxxxx, Xxxxxxxxx 00000.
R E C I T A L S
A. HCRI, HCRI-NC, HCRI-TN and HCRI-TX, as Landlord, and Tenant entered into an Amended and Restated Master Lease Agreement dated effective as of July 1, 2001 (“Master Lease”), as amended pursuant to a certain First Amendment to Amended and Restated Master Lease Agreement dated as of July 16, 2001 (“First Amendment”), as further amended pursuant to a certain Second Amendment to Amended and Restated Master Lease Agreement dated as of December 21, 2001 (“Second Amendment”), as further amended pursuant to a certain Third Amendment to Amended and Restated Master Lease Agreement dated as of March 19, 2002 (“Third Amendment”) (the Master Lease together with the First Amendment, Second Amendment, Third Amendment and Fourth Amendment hereinafter referred to as “Lease”).
B. Landlord and Tenant desire to further amend the Lease to extend the date with respect to the filing of bankruptcy and as otherwise set forth herein.
NOW, THEREFORE, in consideration of the foregoing recitals and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows.
1. Capitalized Terms. Any capitalized terms not defined in this Fourth Amendment shall have the meaning set forth in the Lease.
2. Events of Default. §§8.1 (e), (f) and (h) of the Lease are hereby amended to read in their entirety as follows:
(e) [i] The filing by Tenant or Subtenant of a petition under the Bankruptcy Code or the commencement of a bankruptcy or similar proceeding by Tenant; [ii] the failure by Tenant or Subtenant within 60 days to dismiss an involuntary bankruptcy petition or other commencement of a bankruptcy, reorganization or similar proceeding against Tenant or Subtenant, or to lift or stay any execution, garnishment or attachment of such consequence as will impair its ability to carry on its operation at the Leased Property; [iii] the entry of an order for relief under the Bankruptcy Code in respect of Tenant or Subtenant; [iv] any assignment by Tenant or Subtenant for the benefit of its creditors; [v] the entry by Tenant or Subtenant into an agreement of composition with its creditors; [vi] the approval by a court of competent jurisdiction of a petition applicable to Tenant or Subtenant in any proceeding for its reorganization instituted under the provisions of any state or federal bankruptcy, insolvency, or similar laws; [vii] appointment by final order, judgment, or decree of a court of competent jurisdiction of a receiver of a whole or any substantial part of the properties of Tenant or Subtenant (provided such receiver shall not have been removed or discharged within 60 days of the date of his qualification). Notwithstanding the foregoing, such an event shall not constitute an Event of Default hereunder if (a) with respect to clauses [i] and [ii], such event occurs on or prior to January 31, 2003 or (b) with respect to clauses [iii], [iv], [v], [vi] or [vii] such event occurs at any time in connection with a bankruptcy action filed on or prior to January 31, 2003.
(f) [i] Any receiver, administrator, custodian or other person takes possession or control of any of the Leased Property and continues in possession for 60 days; [ii] any writ against any of the Leased Property is not released within 60 days; [iii] any judgment is rendered or proceedings are instituted against the Leased Property or Tenant or Subtenant which affect the Leased Property or any part thereof, which is not dismissed for 60 days (except as otherwise provided in this section); [iv] all or a substantial part of the assets of Tenant or Subtenant are attached, seized, subjected to a writ or distress warrant, or are levied upon, or come into the possession of any receiver, trustee, custodian, or assignee for the benefit of creditors occurring on or after January 31, 2003 or such event occurs at any time in connection with a bankruptcy action filed on or after January 31, 2003; [v] Tenant or Subtenant is enjoined, restrained, or in any way prevented by court order (other than ex parte order) from conducting all or a substantial part of its business or affairs at the Leased Property; or [vi] except as otherwise permitted hereunder, a final notice of lien, levy or assessment is filed of record with respect to all or any part of the Leased Property or any property of Tenant or Subtenant located at the Leased Property and is not dismissed, discharged, or bonded-off within 30 days or is not otherwise addressed pursuant to §7.3.
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(h) Tenant, Subtenant or any Affiliate defaults on any indebtedness or obligation to Landlord or any Landlord Affiliate, including, without limitation, any lease with Landlord or any Landlord Affiliate, or Tenant or any Affiliate receives notice of acceleration of payment in connection with a default under any Material Obligation unless Tenant can demonstrate to Landlord that such acceleration will not cause Tenant to be in violation of §15.7, and any applicable grace or cure period with respect to default under such indebtedness or obligation expires without such default having been cured. This provision applies to all such indebtedness and obligations as they may be amended, modified, extended, or renewed from time to time. Notwithstanding the foregoing, such an event shall not constitute an Event of Default hereunder if the event occurs on or prior to January 31, 2003 or if such event occurs at any time in connection with a bankruptcy action filed on or prior to January 31, 2003.
3. Affirmation. Except as specifically modified by this Fourth Amendment, the terms and provisions of the Lease are hereby affirmed and shall remain in full force and effect.
4. Binding Effect. This Fourth Amendment will be binding upon and inure to the benefit of the successors and permitted assigns of Landlord and Tenant.
5. Further Modification. The Lease may be further modified only by writing signed by Landlord and Tenant.
6. Counterparts. This Fourth Amendment may be executed in multiple counterparts, each of which shall be deemed an original hereof, but all of which will constitute one and the same document.
7. Subtenant. Manlius Clare Bridge Operator, Inc. is signing this Fourth Amendment for the sole purpose of consenting to the terms and conditions set forth herein.
[THE REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK]
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IN WITNESS WHEREOF, Landlord and Tenant have executed this Fourth Amendment as of the date first set forth above.
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Signed and acknowledged in the presence of: Signature/s/ Xxxxx X. Xxxxx Print Name Xxxxx X. Xxxxx Signature/s/ Xxxx X. Xxxxx Print Name Xxxx X. Xxxxx |
HEALTH CARE REIT, INC. By:/s/ Xxxx X. Xxxxx Title:Vice Pres and Corporate Secretary |
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Signed and acknowledged in the presence of:
Signature/s/ Xxxxx X. Xxxxx Print Name Xxxxx X. Xxxxx Signature/s/ Xxxx X. Xxxxx Print Name Xxxx X. Xxxxx |
HCRI INDIANA PROPERTIES, LLC By:Health Care REIT, Inc. Member By:/s/ Xxxx X. Xxxxx Title:Vice Pres and Corporate Secretary |
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Signed and acknowledged in the presence of:
Signature/s/ Xxxxx X. Xxxxx Print Name Xxxxx X. Xxxxx Signature/s/ Xxxx X. Xxxxx Print Name Xxxx X. Xxxxx |
HCRI NORTH CAROLINA PROPERTIES, LLC By:Health Care REIT, Inc. Member By:/s/ Xxxx X. Xxxxx Title:Vice Pres and Corporate Secretary |
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Signed and acknowledged in the presence of: Signature/s/ Xxxxx X. Xxxxx Print Name Xxxxx X. Xxxxx Signature/s/ Xxxx X. Xxxxx Print Name Xxxx X. Xxxxx |
HCRI TENNESSEE PROPERTIES, INC. By:/s/ Xxxx X. Xxxxx Title:Vice Pres and Corporate Secretary |
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Signed and acknowledged in the presence of:
Signature/s/ Xxxxx X. Xxxxx Print Name Xxxxx X. Xxxxx Signature/s/ Xxxx X. Xxxxx Print Name Xxxx X. Xxxxx |
HCRI TEXAS PROPERTIES, LTD. By:Health Care REIT, Inc. General Partner By:/s/ Xxxx X. Xxxxx Title:Vice Pres and Corporate Secretary |
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Signed and acknowledged in the presence of:
Signature/s/ Xxxxx X. Xxxxx Print Name Xxxxx X. Xxxxx Signature/s/ Xxxx X. Xxxxx Print Name Xxxx X. Xxxxx |
HCRI WISCONSIN PROPERTIES, LLC By:Health Care REIT, Inc. Member By:/s/ Xxxx X. Xxxxx Title:Vice Pres and Corporate Secretary |
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Signed and acknowledged in the presence of: Signature: /w/ Xxxx Xxxxxxxx Print Name /s/ Xxxx Xxxxxxxx Signature/s/ Xxxx Xxxxxx Print Name Xxxx Xxxxxx |
ALTERRA HEALTHCARE CORPORATION By:/s/ Xxxx X. Xxxxxxxxx Title:Senior Vice President Tax I.D. No.:00-0000000 |
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Signed and acknowledged in the presence of:
Signature /s/ Xxxxxxxx Xxxxx Print Name Xxxxxxxx Xxxxx Signature /s/Xxx Xxxxxxx Print Name Xxx Xxxxxxx |
MANLIUS CLARE BRIDGE OPERATOR, INC. By:/s/ Xxxxxxx Xxxxxxx Title:President Tax I.D. No.:00-0000000 |
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STATE OF OHIO)
) SS:
COUNTY OF XXXXX)
The foregoing instrument was acknowledged before me this 31st day of December, 2002 by Xxxx X. Xxxxx, the Vice President and Corporate Secretary of Health Care REIT, Inc., a Delaware corporation, on behalf of the corporation.
/s/ Xxxx X. Xxxxx
Notary Public
My Commission Expires: 5/21/06[SEAL]
STATE OF OHIO)
) SS:
COUNTY OF XXXXX)
The foregoing instrument was acknowledged before me this 31st day of December, 2002 by Xxxx X. Xxxxx, the Vice President and Corporate Secretary of Health Care REIT, Inc., a Delaware corporation and the sole member of HCRI Indiana Properties, LLC, a limited liability company organized under the laws of the State of Indiana on behalf of the limited liability company.
/s/ Xxxx X. Xxxxx
Notary Public
My Commission Expires: 5/21/06[SEAL]
STATE OF OHIO)
) SS:
COUNTY OF XXXXX)
The foregoing instrument was acknowledged before me this 31st day of December, 2002 by Xxxx X. Xxxxx, the Vice President and Corporate Secretary of Health Care REIT, Inc., a Delaware corporation and the sole member of HCRI North Carolina Properties, LLC, a limited liability company organized under the laws of the State of Delaware on behalf of the limited liability company.
/s/ Xxxx X. Xxxxx
Notary Public
My Commission Expires: 5/21/06[SEAL]
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STATE OF OHIO)
) SS:
COUNTY OF XXXXX)
The foregoing instrument was acknowledged before me this 31st day of December, 2002 by Xxxx X. Xxxxx, the Vice President and Corporate Secretary of HCRI Tennessee Properties, Inc., a corporation organized under the laws of the State of Delaware on behalf of the corporation.
/s/ Xxxx X. Xxxxx
Notary Public
My Commission Expires:__________[SEAL]
STATE OF OHIO)
) SS:
COUNTY OF XXXXX)
The foregoing instrument was acknowledged before me this 31st day of December, 2002 by Xxxx X. Xxxxx, the Vice President and Corporate Secretary of Health Care REIT, Inc., a Delaware corporation and the general partner of HCRI Texas Properties, Ltd., a limited liability partnership organized under the laws of the State of Texas on behalf of the limited partnership.
/s/ Xxxx X. Xxxxx
Notary Public
My Commission Expires: __________[SEAL]
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STATE OF OHIO)
) SS:
COUNTY OF XXXXX)
The foregoing instrument was acknowledged before me this 31st day of December, 2002 by Xxxx X. Xxxxx, the Vice President and Corporate Secretary of Health Care REIT, Inc., a Delaware corporation and the sole member of HCRI Wisconsin Properties, LLC, a limited liability company organized under the laws of the State of Delaware on behalf of the limited liability company.
/s/ Xxxx X. Xxxxx
Notary Public
My Commission Expires: __________[SEAL]
STATE OF WISCONSIN)
) SS:
COUNTY OF MILWAUKEE)
The foregoing instrument was acknowledged before me this 27th day of December, 2002 by Xxxx X. Xxxxxxxxx, the Senior Vice President of Alterra Healthcare Corporation, a Delaware corporation, on behalf of the corporation.
/s/ X. X. Xxxxxx
Notary Public
My Commission Expires: 5-21-06[SEAL]
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STATE OF WISCONSIN)
) SS:
COUNTY OF MILWAUKEE)
The foregoing instrument was acknowledged before me this 2ND day of January, 2003 by Xxxxxxx Xxxxxxx, the President of Manlius Clare Bridge Operator, Inc., a New York corporation, on behalf of the corporation.
/s/ X. X. Xxxxxx
Notary Public
My Commission Expires:5-21-06[SEAL]
THIS INSTRUMENT PREPARED BY:
Xxxxxx X. Xxxx, Esq.Xxxxxxxx, Loop & Xxxxxxxx, LLP
1000 Xxxxxxx Xxxxxx, Xxxx 00000
