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EXHIBIT 10.3
AMENDMENT NO. 1
TO AMENDED AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT
OF HCPI/UTAH, LLC,
A DELAWARE LIMITED LIABILITY COMPANY
THIS AMENDMENT NO.1 TO AMENDED AND RESTATED LIMITED LIABILITY
COMPANY AGREEMENT OF HCPI/UTAH, LLC ("Amendment") is made and entered into
effective as of the 30th day of June, 1999 by HEALTH CARE PROPERTY INVESTORS,
INC., a Maryland corporation (the "Managing Member"), Xxxxx Providence Medical
Associates, L.C., a Utah limited liability company ("Xxxxx Providence"),
Xxxxx-BPMA Holdings, L.C., a Utah limited liability company ("Xxxxx-BPMA"), and
Spring Creek Medical Building L.L.C., a Utah limited liability company ("Spring
Creek").
RECITALS
A. Managing Member and each of the persons whose names are set
forth on Exhibit A thereto entered into an Amended and Restated Limited
Liability Company Agreement of HCPI/Utah dated as of January 20, 1999 (the "LLC
Agreement").
B. Pursuant to that certain Contribution Agreement and Escrow
Instructions dated January 20, 1999, as amended (the "Contribution Agreement"),
between Managing Member, HCPI/Utah, Xxxxx, Xxxxx Providence, and the parties
identified as "Transferors" on the signature page thereto, Xxxxx Providence has,
concurrently herewith, contributed the Property known as "Creekside" to
HCPI/Utah in exchange for Non-Managing Member Units (the "Contribution").
X. Xxxxx Providence has directed that the Non-Managing Member
Units deliverable to it in accordance with the foregoing be assigned to its
members, Xxxxx-BPMA and Spring Creek.
D. Managing Member hereby consents to the foregoing assignment
and to the admission of Xxxxx-BPMA and Spring Creek as Members of HCPI/Utah.
E. Prior to the Contribution, Xxxxx Providence had master leased
the space within the medical office building constructed on the Creekside
Property to Spring Creek pursuant to that certain Creekside Master Lease dated
as of December, 1997, as amended by that certain First Amendment to Lease dated
February 20, 1998 (the "Master Lease") by and between Xxxxx Providence, as
landlord, and Spring Creek, as tenant. In connection with the Contribution,
HCPI/Utah is succeeding to Xxxxx Providence's interests as the landlord under
the Master Lease. To secure the performance of Spring Creek's obligations under
the Master Lease, HCPI/Utah has required Spring Creek to pledge certain of its
Non-Managing Member Units to HCPI/Utah, as more particularly described in that
certain Pledge Agreement of even date herewith between HCPI/Utah and Spring
Creek (the "Pledge Agreement"). Managing Member hereby consents to the foregoing
pledge.
F. Pursuant to the power granted to it by Sections 7.3.C(1) and
11.4.C of the LLC Agreement, the Managing Member is executing this Amendment to
reflect Xxxxx-
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BPMA's Membership Interest and Spring Creek's Membership Interest in accordance
with the foregoing.
AMENDMENT
NOW, THEREFORE in consideration of the foregoing Recitals, and
other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties do hereby agree as follows:
1. Consent. Managing Member hereby consents to the admission of
Xxxxx-BPMA and Spring Creek as Non-Managing Members of HCPI/Utah and to the
pledge by Spring Creek of certain of its Non-Managing Member Units to HCPI/Utah
in accordance with the terms of the Pledge Agreement.
2. Amendment. Exhibit A to the LLC Agreement is hereby deleted in
its entirety and is replaced with Exhibit A attached hereto.
3. Effect of Amendment. Except to the extent expressly modified
by this Amendment, the LLC Agreement remains in full force and effect.
4. Consent to be Bound by LLC Agreement. Xxxxx-BPMA and Spring
Creek hereby consent to and agree to be bound by all terms of the LLC Agreement,
as hereby amended. Xxxxx-BPMA and Spring Creek hereby acknowledge receipt of a
copy of the LLC Agreement.
5. Conflicting Terms. Wherever the terms of this Amendment and
the terms and conditions of the LLC Agreement are in conflict, the terms of this
Amendment shall be deemed to supersede the conflicting terms of the LLC
Agreement.
6. Defined Terms. All terms used in this Amendment with initial
capital letters and not defined herein shall have the meaning given to such
terms in the LLC Agreement.
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left blank - signature page follows]
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IN WITNESS WHEREOF, the undersigned have executed this Amendment
as of the date first written above.
HEALTH CARE PROPERTY INVESTORS, INC.,
a Maryland corporation
By: /s/ XXXXXX X. XXXXXXX
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Name: Xxxxxx X. Xxxxxxx
Title: Senior Vice President, General
Counsel and Corporate Secretary
XXXXX PROVIDENCE MEDICAL ASSOCIATES, L.C.,
a Utah limited liability company
By: The Xxxxx Company, L.C., a Utah
limited liability company, its Manager
By: /s/ H. XXXXX XXXXX
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Name: H. Xxxxx Xxxxx
Title: Chairman and Manager
XXXXX-BPMA HOLDINGS, L.C., a Utah
limited liability company
By: The Xxxxx Company L.C., a Utah limited
liability company, its Manager
By: /s/ H. XXXXX XXXXX
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Name: H. Xxxxx Xxxxx
Title: Chairman and Manager
SPRING CREEK MEDICAL BUILDING L.L.C.,
a Utah limited liability company
By: /s/ XXXXX X. XXXXX
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Name: Xxxxx X. Xxxxx
Title: Member
By: /s/ XXXXXX X. XXXX
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Name: Xxxxxx X. Xxxx
Title: Member
By: /s/ XXXX X. XXXXXXX
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Name: Xxxx X. Xxxxxxx
Title: Member
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EXHIBIT A
MEMBERS' CAPITAL CONTRIBUTIONS
Non-Managing Members
Address:
with a copy to: with a copy to:
c/o The Xxxxx Company, X.X. Xxxxxx, Xxxx & Xxxxxxxx LLP Parr, Waddoups, Xxxxx, Gee & Xxxxxxxx
000 Xxxxx 000 Xxxx, Xxxxx 000 000 Xxxxx Xxxxx Xxxxxx 000 Xxxxx Xxxxx Xxxxxx, Xxxxx 0000
Xxxx Xxxx Xxxx, Xxxx 00000 Xxx Xxxxxxx, Xxxxxxxxxx 00000 Xxxx Xxxx Xxxx, Xxxx 00000-0000
Attention: Xxxxxx X. Xxxxxx Attention: Xxxxxxx X. Xxxxx, Esq. Attention: Xxxxx X. Xxx, Esq.
Telephone No.: (000) 000-0000 Telephone No.: (000) 000-0000 Telephone No.: (000) 000-0000
Facsimile No.: (000) 000-0000 Facsimile No.: (000) 000-0000 Facsimile No.: (000) 000-0000
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GROSS ASSET
VALUE OF NET ASSET VALUE UNIT NUMBER OF
MEMBER CONTRIBUTION CONTRIBUTION OF CONTRIBUTION VALUE UNITS
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Xxxxx Castle Xxxx Xxxxxx Xxxx $1,800,000 $552,538 $32.00 17,267
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Xxxxx Centerville Centerville $1,520,000 $536,717 $32.00 16,772
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Xxxxx Elko Elko $2,620,000 $832,395 $32.00 26,012
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Xxxxx Desert Springs Xxxxxxx, Xxxxx $21,250,000 $3,652,897 $32.00 114,153
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Xxxxx Grantsville Grantsville $410,000 $170,806 $32.00 5,338
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Xxxxx Xxxxx Medical Ogden Medical $4,220,000 $25,145 $32.00 786
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Xxxxx Xxxxx Medical #2 Ogden Women's $2,300,000 $1,171,029 $32.00 36,595
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Xxxxx Salt Lake SLIC $885,000 $395,210 $32.00 12,350
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Xxxxx St. Mark's Medical St. Mark's I $10,700,000 $3,352,905 $32.00 104,778
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Xxxxx XxXxx-Xxx 60% Undivided $8,880,000 $2,281,455 $32.00 71,295
Interest in St.
Mark's II
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Xxxxx St. Mark's #2 40% Undivided $5,920,000 $1,520,970 $32.00 47,530
Interest in St.
Mark's II
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Xxxxx Iomega Timpanogos $8,100,000 $2,377,577 $32.00 74,299
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Xxxxx Springville Springville $1,500,000 $1,461,700 $32.00 45,678
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Xxxxx Primary Care Wasatch Family $1,800,000 $652,622 $32.00 20,394
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Total Non-Managing Member Units (Initial Closing) $18,983,966 593,247
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Xxxxx BPMA Holdings 50% Creekside $2,131,530.00 $573,952 $32.00 17,936
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Spring Creek Medical 50% Creekside $2,131,530.00 $573,952 $32.00 17,936
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Total Non-Managing Member Units (Creekside Closing) $1,147,904 35,872
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Total Non-Managing Member Units $20,131,870 629,119
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Managing Member
Address:
Health Care Property Investors, Inc. with a copy to:
0000 XxxXxxxxx Xxxxx, Xxxxx 000 Xxxxxx & Xxxxxxx
Xxxxxxx Xxxxx, Xxxxxxxxxx 00000 000 Xxxx Xxxxxx Xxxxx, 00xx Xxxxx
Attention: Xxxxxx X. Xxxxxxx, Esq. Xxxxx Xxxx, Xxxxxxxxxx 00000
Telephone No.: (000) 000-0000 Attention: Xxxxx X. Xxxxxxx, Esq.
Facsimile No.: (000) 000-0000 Telephone No.: (000) 000-0000
Facsimile No.: (000) 000-0000
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Health Care Property Initial Closing $18,897,758 $18,897,758 $32.00 590,555
Investors Cash
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Health Care Property Creekside Closing $2,733,952 $2,733,952 $32.00 85,436
Investors Cash
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Total Managing Member Units $21,631,710 $21,631,710 675,991
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