EXHIBIT 10.41.2
FIRST AMENDMENT TO AMENDED AND RESTATED
MASTER LEASE AGREEMENT
THIS FIRST AMENDMENT TO AMENDED AND RESTATED MASTER LEASE AGREEMENT
("Amendment") is dated as of July 16, 2001 (the "Effective Date") among HEALTH
CARE REIT, INC., a corporation organized under the laws of the State of Delaware
("HCRI" 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"), and HCRI
TEXAS PROPERTIES, LTD., a limited partnership organized under the laws of the
State of Texas ("HCRI-TX" 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. Landlord and Tenant entered into an Amended and Restated Master
Lease Agreement dated effective as of July 1, 2001 (the "Lease").
B. Landlord and Tenant desire to amend the Lease to include four
additional Facilities located in Valparaiso, Indiana and Vero Beach, Florida
(the "Additional Facilities") 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. Definitions. Any capitalized terms not defined in this Amendment
shall have the meaning set forth in the Lease.
2. Section 1.4 of the Lease is hereby amended to add the following:
"Earnout Amount" means $250,000.00.
3. Effective Date. The definition of Effective Date in Section 1.4
of the Lease is hereby amended to read in its entirety as follows:
"Effective Date" means the date of this Amendment as set forth in
the first paragraph hereof.
4. Lease Advance. The definition of Lease Advance in Section 1.4 of
the Lease is hereby amended to read in its entirety as follows:
"Lease Advance" means [i] the Initial Lease Advance; [ii] the
Lease Advance by Landlord to Tenant of even date of
$12,750,000.00; [iii] the advance (if any) of the Earnout
Amount made pursuant to Section 2.8; or [iv] any other advance
of funds by Landlord to Tenant pursuant to the term of this
Lease.
5. Lease Rate. The definition of Lease Rate in Section 1.4 of the
Lease is hereby amended to add the following:
Notwithstanding anything to the contrary set forth in this
definition of Lease Rate, commencing on the Effective Date of
this Amendment, the Lease Rate for the remainder of the
Initial Term is 10.72%.
6. Earnout Disbursement. Article 2 of the Lease is hereby amended to
add the following Section 2.8:
2.8 Earnout Disbursement. If Tenant achieves an Additional
Facility Coverage Ratio (hereinafter defined) of not less than
1.30 to 1.00 for eight consecutive quarters during the first
four years of the Initial Term (including, if applicable,
quarters prior to the commencement of the Initial Term), as
evidenced by financial statements satisfactory to Landlord and
provided that the Allocated Lease Amount for the Additional
Facilities after payment of the Earnout Payment is less than
ninety percent (90%) of the appraisal value of the Additional
Facilities, Landlord shall disburse the Earnout Amount to
Tenant upon Tenant's satisfaction of the following
disbursement requirements: [i] Tenant shall pay all of
Landlord's reasonable out-of-pocket expenses, including,
without limitation, attorneys' fees and expenses, incurred in
connection with the Earnout Amount disbursement; [ii] no
uncured Event of Default exists under this Lease and no event
has occurred which, with the giving of notice, the passage of
time or both, would constitute an Event of Default; and [iii]
no material adverse change in the condition of Landlord or the
Leased Property exists. For purposes of this Section 2.8 only,
the Additional Facility Coverage Ratio shall be determined in
the same manner as the Portfolio Coverage Ratio (defined in
Section 15.7.1(c)) except all references to Portfolio shall be
deleted and shall be replaced with Additional Facilities in
both Section 15.7.1(b) and (c). For purposes of this
Section 2.8, the calculation of the Additional Facility
Coverage Ratio shall be made as if the Earnout Amount was
included in the Lease Amount at the
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commencement of the period of 16 consecutive quarters for which
the calculation is being made. Landlord shall not be obligated to
disburse the Earnout Amount if Tenant does not satisfy the
foregoing disbursement requirements within six months after the
Additional Facility Coverage Ratio requirement has been
satisfied.
7. Repairs. Article 2 of the Lease is hereby amended to add the
following Section 2.9:
a. Roof Repair Escrow. Tenant acknowledges that there are certain
roof repairs and other miscellaneous repairs (collectively
"Repairs") required at Alterra Sterling House of Valparaiso
and Alterra Clare Bridge Cottage at Valparaiso (collectively
"Valparaiso Facilities"). Tenant agrees to cause the seller of
the Valparaiso Facilities to escrow $150,000.00 ("Escrow
Amount") of the proceeds from the sale of the Valparaiso
Facilities at the time of the Landlord's purchase of the
Valparaiso Facilities.
b. Budget. As soon as possible but in no event later than 30 days
after the Effective Date of this Amendment, Tenant shall
provide Landlord with a budget setting forth the total cost
for the Repairs of the Valparaiso Facilities, together with a
construction contract for the Repairs. Upon approval of the
budget and the construction contract, Landlord shall release
as much of the Escrow Amount as is necessary to retain 125% of
the cost of the Repairs in escrow ("Amended Escrow Amount").
c. Disbursement of Amended Escrow Amount. Landlord may make
disbursements of the Amended Escrow Amount from time to time
as repairs progress, but shall not be obligated to disburse
more frequently than once in each calendar month and shall not
be obligated to disburse until at least five Business Days
following receipt of all documentation required for such
disbursement.
d. Documents Required for Disbursement. Prior to the disbursement
of any Amended Escrow Amount, Tenant shall have provided
Landlord with the following: [i] budget; [ii] construction
contract; [iii] disbursement voucher; and [iv] sworn
statements, waivers of lien or such other documents as may be
required to ensure Landlord that there are no mechanics liens.
e. Disbursement of Remaining Funds. Landlord shall not be
obligated to make any disbursement except from the
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Amended Escrow Amount. In the event that all costs for the
Repairs have been paid and upon the earlier of [i] a
sufficient amount of time passing to ensure that there are no
mechanics liens; or [ii] Landlord receiving the appropriate
lien waivers under Indiana law to release any and all
mechanics liens, Landlord shall disburse any funds remaining
in the Amended Escrow Amount to Tenant.
8. Commitment Fee. Article 2 of the Lease is hereby amended to add
the following Section 2.9:
2.9 Commitment Fee. On the Effective Date of this Amendment,
Tenant shall pay a commitment fee to Landlord of $127,500.00.
9. Representations and Warranties. Article 22 of the Lease is hereby
amended to make all representations and warranties effective as of the Effective
Date.
10. Legal Description. Exhibit A of the Lease is hereby amended by
the addition of Exhibit A-37 through Exhibit A-39 hereto.
11. Permitted Exceptions. Exhibit B of the Lease is hereby amended
by the addition of Exhibit B-37 through Exhibit B-39 hereto.
12. Facility Information. Exhibit C of the Lease is hereby amended
to read in its entirety as set forth on Exhibit C hereto.
13. Government Authorizations; Zoning Permits. Exhibit G of the
Lease is hereby amended by the addition of those items set forth on Exhibit G
hereto.
14. Affirmation. Except as specifically modified by this amendment,
the terms and provisions of the Lease are hereby affirmed and shall remain in
full force and effect.
15. Binding Effect. This Amendment will be binding upon and inure to
the benefit of the successors and permitted assigns of Landlord and Tenant.
16. Further Modification. The Lease may be further modified only by
writing signed by Landlord and Tenant.
17. Counterparts. This 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.
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IN WITNESS WHEREOF, Landlord and Tenant have executed this Amendment
as of the date first set forth above.
Signed and acknowledged in the presence of: HEALTH CARE REIT, INC.
/s/ Xxxx X. Xxxxx /s/ Xxxx X. Xxxxx
Signature__________________________________ By:_______________________________
Xxxx X. Xxxxx
Print Name_________________________________ VP & Corp. Secretary
/s/ Xxxxxxxx X. Xxxxxx Title:_________________________
Signature__________________________________
Xxxxxxxx X. Xxxxxx
Print Name_________________________________
Signed and acknowledged in the presence of: HCRI NORTH CAROLINA PROPERTIES,
LLC
By: Health Care REIT, Inc.
Member
/s/ Xxxx X. Xxxxx /s/ Xxxx X. Xxxxx
Signature__________________________________ By:___________________________
Xxxx X. Xxxxx
Print Name_________________________________ VP & Corp. Secretary
/s/ Xxxxxxxx X. Xxxxxx Title:_____________________
Signature__________________________________
Xxxxxxxx X. Xxxxxx
Print Name_________________________________
Signed and acknowledged in the presence of: HCRI TENNESSEE PROPERTIES, INC.
/s/ Xxxx X. Xxxxx /s/ Xxxx X. Xxxxx
Signature__________________________________ By:___________________________
Xxxx X. Xxxxx
Print Name_________________________________ VP & Corp. Secretary
/s/ Xxxxxxxx X. Xxxxxx Title:_____________________
Signature__________________________________
Xxxxxxxx X. Xxxxxx
Print Name_________________________________
Signed and acknowledged in the presence of: HCRI TEXAS PROPERTIES, LTD.
By: Health Care REIT, Inc.
General Partner
/s/ Xxxx X. Xxxxx /s/ Xxxx X. Xxxxx
Signature__________________________________ By:___________________________
Xxxx X. Xxxxx
Print Name_________________________________ VP & Corp. Secretary
/s/ Xxxxxxxx X. Xxxxxx Title:_____________________
Signature__________________________________
Xxxxxxxx X. Xxxxxx
Print Name_________________________________
Signed and acknowledged in the presence of: ALTERRA HEALTHCARE CORPORATION
/s/ Xxxxx Xxxxx /s/ Xxxxxxx X. Xxxxx
Signature__________________________________ By:_______________________________
Xxxxx Xxxxx
Print Name_________________________________ VP
/s/ Xxxx Xxxxxx Title:_________________________
Signature__________________________________
Xxxx Xxxxxx 00-0000000
Print Name_________________________________ Tax I.D. No.:_____________________
S-1
STATE OF OHIO )
) SS:
COUNTY OF XXXXX )
The foregoing instrument was acknowledged before me this 16 day of
July, 2001 by Xxxx X. Xxxxx, the VP & Corp. Secretary of Health Care REIT, Inc.,
a Delaware corporation, on behalf of the corporation.
/s/ Xxxx X. Xxxxx
__________________________________
Notary Public
8/26/05
My Commission Expires:_____________________ [SEAL]
STATE OF OHIO )
) SS:
COUNTY OF XXXXX )
The foregoing instrument was acknowledged before me this 16 day of
July, 2001 by Xxxx X. Xxxxx, the VP & Corp. 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
8/26/05
My Commission Expires:_____________________ [SEAL]
STATE OF OHIO )
) SS:
COUNTY OF XXXXX )
The foregoing instrument was acknowledged before me this 16 day of
July, 2001 by Xxxx X. Xxxxx, the VP & Corp. 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
8/26/05
My Commission Expires:_____________________ [SEAL]
S-2
STATE OF OHIO )
) SS:
COUNTY OF XXXXX )
The foregoing instrument was acknowledged before me this 16 day of
July, 2001 by Xxxx X. Xxxxx, the VP & Corp. 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
8/26/05
My Commission Expires:_____________________ [SEAL]
STATE OF WISCONSIN )
) SS:
COUNTY OF MILWAUKEE )
The foregoing instrument was acknowledged before me this 14 day of
July, 2001 by Xxxxxxx X. Xxxxx, the VP of Alterra Healthcare Corporation, a
Delaware corporation, on behalf of the corporation.
/s/ XX Xxxxxx
__________________________________
Notary Public
5/26/02
My Commission Expires:_____________________ [SEAL]
THIS INSTRUMENT PREPARED BY:
XXXXXX X. XXXX, ESQ.
XXXXXXXX, LOOP & XXXXXXXX, LLP
0000 XXXXXXX
XXXXXX, XXXX 00000
S-3
EXHIBIT A-37: LEGAL DESCRIPTION
Alterra Sterling House of Valparaiso
A parcel of land in the East 1/2 of the Northwest 1/4 of Section 13, Township
35 North, Range 6 West of the Second Principal Meridian in the City of
Valparaiso, Xxxxxx County, Indiana and being a part of a tract of land conveyed
to August Dravininkas as Trustee by a Quit-Claim Deed dated January 11, 1991 and
recorded January 11, 1991 as Document Number 91-00582 in Deed Record 413, page
360, in the Office of the Recorder of Xxxxxx County, Indiana; said parcel
described as follows (the basis of bearings is the line between the
monumentation found at the Northeast and Southeast corners of said Northwest
1/4 having a direction of South 00 degrees 00 minutes 00 seconds East):
Beginning at a railroad rail located at the Northeast corner of said Northwest
1/4; thence North 89 degrees 47 minutes 16 seconds West along the North line of
said Northwest 1/4 405.19 feet to a 5/8 inch diameter rerod with PTGR/Xxxxx
Group Identification Cap at the Northeast corner of the Fourth Addition to
Dravininkas Glendale Acres as per plat thereof recorded in Plat File 15-D-8A in
the Office of the Recorder of Xxxxxx County, Indiana; thence South 00 degrees 00
minutes 00 seconds East along the East line of said Fourth Addition 323.00 feet
to a 5/8 inch diameter rerod with PTGR/Xxxxx Group Identification Cap; thence
South 89 degrees 47 minutes 16 seconds East parallel with said North line 405.19
feet to a 5/8 inch diameter rerod with PTGR/Xxxxx Group Identification Cap on
the East line of said Northwest 1/4; thence North 00 degrees 00 minutes 00
seconds West along said East line 323.00 feet to the Point of Beginning.
EXHIBIT A-38: LEGAL DESCRIPTION
Alterra Clare Bridge Cottage of Valparaiso
A parcel of land in the East 1/2 of the Northwest 1/4 of Section 13, Township
35 North, Range 6 West of the Second Principal Meridian in the City of
Valparaiso, Xxxxxx County, Indiana and being a part of a tract of land conveyed
to August Dravininkas as Trustee by a Quit-Claim Deed dated January 11, 1991 and
recorded January 11, 1991 as Document Number 91-00582 in Deed Record 413, page
360, in the Office of the Recorder of Xxxxxx County, Indiana; said parcel
described as follows (the basis of bearings is the line between the
monumentation found at the Northeast and Southeast corners of said Northwest
1/4 having a direction of South 00 degrees 00 minutes 00 seconds East):
Commencing at a railroad rail located at the Northeast corner of said Northwest
1/4; thence South 00 degrees 00 minutes 00 seconds East along the East line of
said Northeast 1/4 323.0 feet to a 5/8 inch diameter rerod with PTGR/Xxxxx
Group Identification Cap, said point being the Southeast corner of a tract of
land conveyed to Sterling House Corporation per Warranty Deed dated November 12,
1997 and recorded December 4, 1997 as Document Number 97-29435 in Deed Record
484, page 453, in the Office of the Recorder of Xxxxxx County, Indiana, said
point also being the Point of Beginning; thence North 89 degrees 47 minutes 16
seconds West along the South line of said Sterling tract 405.19 feet to a 5/8
inch diameter rerod with PTGR/Xxxxx Group Identification Cap at the Southwest
corner of said Sterling tract, said point also being on the East line of the
Fourth Addition to Dravininkas Glendale Acres as per plat thereof recorded in
Plat File 15-D-8A in the Office of the Recorder of Xxxxxx County, Indiana;
thence South 00 degrees 00 minutes 00 seconds East along said East line 308.28
feet to a 5/8 inch diameter rerod with PTGR/Xxxxx Group Identification Cap at
the Southeast corner of said Fourth Addition, said point being the Northwest
corner of a tract of land conveyed to the City of Valparaiso per a Deed of
Dedication (for Appletree Lane) dated January 8, 1993 and recorded January 11,
1993 as Document Number 93-00667 in Deed Record 433, page 341, in the Office of
the Recorder of Xxxxxx County, Indiana; thence North 89 degrees 52 minutes 00
seconds East along the North line of said City of Valparaiso tract, said line
being the North right-of-way line of Appletree Lane, 405.19 feet to a 5/8 inch
diameter rerod with PTGR/Xxxxx Group Identification Cap on the East line of said
Northwest 1/4; thence North 00 degrees 00 minutes 00 seconds West along said
East line 305.84 feet to the Point of Beginning.
EXHIBIT A-39: LEGAL DESCRIPTION
Alterra Sterling House of Vero Beach
Alterra Clare Bridge Cottage of Vero Beach
PARCEL NO. 1:
The South 1/2 of the Southwest 1/4 of Government Xxx 0, Xxxxxxx 00, Xxxxxxxx
00 Xxxxx, Xxxxx 40 East, less that portion of access road for Indian River
Boulevard as described in Official Records Book 722, page 2269, Indian River
County, Florida.
Said less and except parcel being described as follows:
A parcel of land being 70.00 feet in width lying in the Northeast Quarter (1/4)
of Section 13, Township 33 South, Range 39 East, and Northwest Quarter (1/4),
Section 18, Township 33 South, Range 40 East, Indian River County, Florida being
more particularly described as follows:
Begin at the East Quarter Section corner of said Section 13, thence Westerly,
along the East-West Quarter Section line of said Section 13, a distance of 40.73
feet (for the purpose of this description said East-West Quarter Section line
bears North 89 degrees 16' 45" West); thence North 27 degrees 58' 54" West a
distance of 239.20 feet, more or less to a point on the Easterly right-of-way
line of Indian River Boulevard said point being also a point on a curve, concave
to the Northwest, having a radius of 647.96 feet and whose radius point bears
North 48 degrees 48' 12" West; thence Northerly, along the arc of said curve and
said Easterly right-of-way line through a central angle of 6 degrees 47' 28" a
distance of 76.80 feet; thence South 27 degrees 58' 54" East, a distance of
309.01 feet, more or less, to a point on the East-West Quarter Section line of
aforementioned Section 18, thence Westerly, along said East-West Quarter Section
line, a distance of 39.08 feet more or less, to the Point of Beginning.
PARCELS 2, 3, AND 4:
A parcel of land situated in part of the South 1/4 of the Northeast 1/4 of
Section 13, Township 33 South, Range 39 East, lying East of the East
right-of-way of Indian River Boulevard (150 foot right-of-way) consisting of
parcels described in Official Records Book 708, page 1861 and Official Records
Book 814, page 751, being more particularly described as follows:
Commencing at the Southeast corner of the Southeast 1/4 quarter of the
Northeast 1/4 of Section 13, Township 33 South, Range 39 East, run North
00 degrees 40' 20" East along the East line of said Southeast 1/4 of the
Northeast 1/4 of Section 13, a distance of 71.64 feet to a point of
interSection with the Easterly line of that certain 70 foot access easement as
shown on Indian River Boulevard right-of-way plans by Xxxxxx Xxxx and
Associates, dated September 1984, file and drawing No. 4395-01-04, Sheet 2 of 5,
recorded in Official Records Book 722, page 2269; and also being the Point of
Beginning.
From said Point of Beginning, run North 27 degrees 56' 01" West along said
Easterly line of the 70 foot access easement, a distance of 227.52 feet to a
point of cusp; said point of cusp lying on the
Easterly right-of-way of Indian River Boulevard (150 foot right-of-way); from
said point of cusp, run Northeasterly along a curve, also being the Easterly
right-of-way of Indian River Boulevard, concave to the Northwest, having a
radius of 647.96 feet, a central angle of 33 degrees 44' 09", and an arc length
of 381.52 feet to the point of tangency; said point of tangency also being the
interSection of the aforementioned East right-of-way of Indian River Boulevard
and the East line of the Southeast 1/4 of the Northeast 1/4 of Section 13;
from said Point of Tangency, run South 00 degrees 40' 20" West along the said
East line of the Southeast 1/4 of the Northeast 1/4 of Section 13, a distance
of 559.49 feet to the Point of Beginning.
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EXHIBIT B-37: PERMITTED EXCEPTIONS
[*TO FOLLOW*]
EXHIBIT B-38: PERMITTED EXCEPTIONS
[*TO FOLLOW*]
EXHIBIT B-39: PERMITTED EXCEPTIONS
[*TO FOLLOW*]
EXHIBIT C: FACILITY INFORMATION
FACILITY TYPE (PER LICENSE)
FACILITY NAME/ADDRESS ALLOCATED LEASE AMOUNT BEDS/UNITS
-------------------------------------- ---------------------- ---------------------------
1. Clare Bridge of Bradenton $3,550,000 Assisted Living
0000 Xxxxxx X Xxxx. 00 xxxx
Xxxxxxxxx, XX 00000 34 units
Manatee County
2. Clare Bridge of Sarasota $3,650,000 Assisted Living
0000 XxXxxxxx Xxxx 00 xxxx
Xxxxxxxx, XX 00000 34 units
Sarasota County
3. Sterling House of Ponca City $1,650,000 Assisted Living
0000 X. Xxxxxxx Xxxxxx 39 beds
Xxxxx Xxxx, XX 00000 39 units
Xxx County
4. Sterling House of Norman $1,539,000 Assisted Living
0000 Xxxxxxx Xxxxxx 00 xxxx
Xxxxxx, XX 00000 39 units
Cleveland County
5. Sterling House of Lawton $1,600,000 Assisted Living
0000 X. Xxx Xxxx 42 beds
Xxxxxx, XX 00000 42 units
Comanchie County
6. Sterling House of Bartlesville $1,480,000 Assisted Living
0000 X.X. Xxxxx Xxxx. 39 beds
Xxxxxxxxxxxx, XX 00000 39 units
Washington County
7. Sterling House of Enid $1,480,000 Assisted Living
0000 X. Xxxxxx Xxxx 00 xxxx
Xxxx, XX 00000 39 units
Garfield County
8. Sterling House of Stillwater $1,480,000 Assisted Living
0000 XxXxxxx Xxxx 39 beds
Xxxxxxxxxx, XX 00000 39 units
Xxxxx County
9. Sterling House of Shawnee $1,480,000 Assisted Living
3947 Kickapoo 39 beds
Xxxxxxx, XX 00000 39 units
Pottowatomie County
10. Sterling House of Midwest City $1,480,000 Assisted Living
000 X. Xxxx Xxxxx Xxxxx 39 beds
Xxxxxxx Xxxx, XX 00000 39 units
Oklahoma County
11. Sterling House of Claremore $1,582,500 Assisted Living
0000 X. Xxxxxxx 00 43 beds
Xxxxxxxxx, XX 00000 43 units
Xxxxxx County
12. Sterling House of Waxahachie $1,582,500 Assisted Living
0000 Xxxxx Xxxxxx 60 beds
Xxxxxxxxxx, XX 00000 50 units
Xxxxx County
FACILITY TYPE (PER LICENSE)
FACILITY NAME/ADDRESS ALLOCATED LEASE AMOUNT BEDS/UNITS
------------------------------------------- ---------------------- ---------------------------
13. Sterling House of Palestine $1,582,500 Assisted Living
000 Xxxxxxx Xxxxx 00 xxxx
Xxxxxxxxx, XX 00000 43 units
Xxxxxxxx County
14. Sterling House of Muskogee $1,582,500 Assisted Living
0000 X. Xxxxxxxx Xxxx 43 beds
Xxxxxxxx, XX 00000 43 units
Muskogee County
15. Sterling House of Owasso $1,595,000 Assisted Living
00000 X. 00xx Xxxxx N. 43 beds
Xxxxxx, XX 00000 43 units
Tulsa County
16. Sterling House of Texarkana $1,595,000 Assisted Living
0000 Xxxxxx Xxxx 00 xxxx
Xxxxxxxxx, XX 00000 50 units
Bowie County
17. Sterling House of N. Oklahoma City $1,595,000 Assisted Living
0000 X.X. 000xx Xxxxxx 43 beds
N. Xxxxxxxx Xxxx, XX 00000 43 units
Oklahoma County
18. Sterling House of Chickasha $1,480,000 Assisted Living
000 Xxxxxxx Xxxx Xxxx 39 beds
Xxxxxxxxx, XX 00000 39 units
Xxxxx County
19. Sterling House of Desoto $1,595,000 Assisted Living
000 X. Xxxxxxxx Xxx 60 beds
Xxxxxx, XX 00000 50 units
Dallas County
20. Sterling House of Oklahoma City $1,480,000 Assisted Living
0000 X.X. 00xx Xxxxxx 39 beds
Xxxxxxxx Xxxx, XX 00000 39 units
Oklahoma County
21. Sterling House of Xxxxxx $1,450,000 Assisted Living
000 Xxxxx Xxxx 00 beds
Xxxxxx, XX 00000 39 units
Xxxxxxxx County
22. Sterling House of Cedar Hill $1,661,000 Assisted Living
000 X. Xxxxxxxx Xxxx 60 beds
Xxxxx Xxxx, XX 00000 50 units
Dallas County
23. Sterling House of Findlay $2,000,000 Assisted Living
000 Xxx Xxx Xxxx 37 beds
Xxxxxxx, XX 00000 37 units
Xxxxxxx County
24. Sterling House of Troy $2,200,000 Assisted Living
00 X. Xxxxxxxxx Xxxx 00 beds
Xxxx, XX 00000 37 units
Miami County
25. Sterling House of Georgetown $2,300,000 Assisted Living
0000 Xxxxxxxxxx Xxxxx X 54 beds
Xxxxxxxxxx, XX 00000 54 units
Xxxxxxxxxx County
- 2 -
FACILITY TYPE (PER LICENSE)
FACILITY NAME/ADDRESS ALLOCATED LEASE AMOUNT BEDS/UNITS
-------------------------------------- ---------------------- ---------------------------
26. Sterling House of Piqua $2,120,000 Assisted Living
0000 X. Xxxx Xxxxxx 00 xxxx
Xxxxx, XX 00000 37 units
Miami County
27. Sterling House of Clarksville $2,622,279 Assisted Living
0000 Xxxxxxxx Xxxxx 00 xxxx
Xxxxxxxxxxx, XX 00000 49 units
Xxxxxxxxxx County
28. Sterling House of Canton $2,398,100 Assisted Living
0000 Xxxxx Xxxxx X.X. 00 xxxx
Xxxxxx, XX 00000 42 units
Xxxxx County
29. Clare Bridge of Oklahoma City $3,200,000 Assisted Living
00000 Xxxxxx Xxxxx 38 beds
Xxxxxxxx Xxxx, XX 00000 34 units
Oklahoma County
(Still in retainage)
30. Sterling House of N. Augusta $2,890,000 Assisted Living
000 X. Xxxxx Xxxxx 00 xxxx
X. Xxxxxxx, XX 00000 52 units
Aiken County
31. Clare Bridge of Salem $5,620,298 Assisted Living
0000 Xxxxx Xxxx S.E. 60 beds
Xxxxx, XX 00000 60 units
Xxxxxx County
32. Clare Bridge of Asheville $3,692,675 Assisted Living
0 Xxxxxx Xxxxx Xxxxx 00 beds
Xxxxxxxxx, XX 00000 34 units
Buncombe County
33. Sterling House of Columbia $2,635,620 Assisted Living
0000 Xxxxxxxx Xxxxxx 00 xxxx
Xxxxxxxx, XX 00000 49 units
Maury County
34. Clare Bridge of Wilmington $3,200,939 Assisted Living
0000 Xxxxxxxx Xxxxx 38 beds
Xxxxxxxxxx, XX 00000 34 units
New Hanover County
35. Clare Bridge of Everett $6,876,202 Assisted Living
0000 Xxxx Xxxxxxx Xxxxx 52 beds
Xxxxxxx, XX 00000 46 units
Snohomish County
36. Sterling House of Edmond $1,739,000 Assisted Living
000 X. Xxxxxxxx Xxxx 43 beds
Xxxxxx, XX 00000 43 units
Oklahoma County
37. Alterra Sterling House of Valparaiso $2,670,000 Residential Care
0000 Xxxxxxxxxx Xx. 42 beds
Xxxxxxxxxx, XX 00000 42 units
Xxxxxx County
38. Alterra Clare Bridge Cottage of Valparaiso $3,070,000 Residential Care
0000 Xxxxxxxxxx Xx. 36 beds
Xxxxxxxxxx, XX 00000 32 units
Xxxxxx County
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FACILITY TYPE (PER LICENSE)
FACILITY NAME/ADDRESS ALLOCATED LEASE AMOUNT BEDS/UNITS
-------------------------------------------------- ---------------------- ---------------------------
39. Alterra Sterling House of Vero Beach $3,560,000 Residential Care
000 0xx Xxxxx 42 beds
Xxxx Xxxxx, XX 00000 42 units
Indian River County
40. Alterra Clare Bridge Cottage of Vero Beach $3,450,000 Residential Care
000 0xx Xxxxx 36 beds
Xxxx Xxxxx, XX 00000 32 units
Indian River County
----------------------
TOTAL $94,415,113
======================
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EXHIBIT G: GOVERNMENT AUTHORIZATIONS
TO BE OBTAINED; ZONING PERMITS
Government Authorizations - None
Zoning : Clare Bridge Cottage of Valparaiso (2501 Valparaiso Street)
1. Special Exception granted by Valparaiso Board of Zoning Appeals on
August 18, 1998
2. Driveway and Right-of-Way Cut Permit issued on September 22, 1998
Sterling House of Valparaiso (2601 Valparaiso Street)
1. Special Exception granted by Valparaiso Board of Zoning Appeals on
August 19, 1997
2. Driveway and Right-of-Way Cut Permit issued on October 28, 0000
Xxxxx Xxxxxx Xxxxxxx of Vero Beach (410 4th Court) and Sterling
House of Vero Beach (450 4th Court)
1. Special Exception Use granted by Indian River Board of County
Commissioners on September 26, 1995
