EXHIBIT 10.22
AMENDMENT NO. 1
TO AMENDED AND RESTATED
LIMITED LIABILITY COMPANY AGREEMENT
OF HCPI/UTAH II, LLC
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 October 30, 2001, by HEALTH CARE PROPERTY INVESTORS, INC., a
Maryland corporation (the "Managing Member"), and the Xxxxx Company, L.C., a
Utah limited liability company ("Xxxxx"), as managing member or general partner
of each other member of HCPI/Utah II, LLC.
RECITALS
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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 II, LLC dated as of August 17, 2001 (the "LLC
Agreement").
B. The parties hereto desire to amend the LLC Agreement in the manner
and on the terms and conditions set forth herein.
AMENDMENT
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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. Exhibit A. Exhibit A to the LLC Agreement is hereby deleted in
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its entirety and is replaced with Exhibit A attached hereto.
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2. HCPI/Xxxxxx. The following definition of "HCPI/Xxxxxx" shall be
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added to Article I:
"HCPI/Xxxxxx" shall mean HCPI/Xxxxxx, LLC, a Delaware limited
liability company and Subsidiary of the Company.
3. First Exchange Date. The definition of "First Exchange Date"
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contained in Article I is hereby deleted and replaced with the following:
"First Exchange Date" means August 17, 2002.
4. Initial Non-Managing Members. The definition of "Initial
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Non-Managing Members" contained in Article I is hereby deleted and replaced
with the following:
"Initial Non-Managing Members" means the Non-Managing Members
who acquired their Non-Managing Member Units in exchange for the
Transferred Properties.
5. Preferred Return Per Unit. The definition of "Preferred Return Per
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Unit" contained in Article I is hereby deleted and replaced with the following:
"Preferred Return Per Unit" means with respect to each
Non-Managing Member Unit outstanding on an LLC Record Date an
amount initially equal to zero, and increased cumulatively on each
LLC Record Date by the Preferred Return Per Unit Increase;
provided, however, that (i) the increase in the Preferred Return
Per Unit on the first LLC Record Date after the Initial Closing
shall be the Preferred Return Per Unit Increase multiplied by a
fraction, the numerator of which is 48 days (i.e., the number of
days between the Initial Closing Date and the last day of the
calendar quarter in which the Initial Closing occurs) and the
denominator of which shall be 92 days; (ii) the increase in the
Preferred Return Per Unit with respect to the Non-Managing Member
Units issued on a Subsequent Closing Date that occurs prior to the
LLC Record Date that is established during the same calendar quarter
in which such Subsequent Closing Date occurs shall be zero, and the
increase in the Preferred Return Per Unit on the next following LLC
Record Date with respect to such Non-Managing Member Units shall be
the Preferred Return Per Unit Increase multiplied by a fraction,
the numerator of which is the number of days between the such
Subsequent Closing Date and the last day of the calendar quarter in
which such Subsequent Closing occurs and the denominator of which
shall be 91 days; (iii) the increase in the Preferred Return Per
Unit that occurs on the first LLC Record Date following a
Subsequent Closing that occurs after the LLC Record Date established
during the same calendar quarter in which such Subsequent Closing
occurs ("Post Record Date Subsequent Closing"), with respect to
those Non-Managing Member Units issued in connection with such Post
Record Date Subsequent Closing, shall be the Preferred Return Per
Unit Increase multiplied by a fraction, the numerator of which shall
be the number of days in the period commencing on such Post Record
Date Subsequent Closing and ending on the last day of the calendar
quarter in which such Post Record Date Subsequent Closing occurs,
and the denominator of which shall be 91 days.
6. Preferred Return Per Unit Increase. The following definition of
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"Preferred Return Per Unit Increase" shall be added to Article I:
"Preferred Return Per Unit Increase" means with respect to an
LLC Record Date (except as provided in the definition of Preferred
Return Per Unit), an amount equal to the product of (i) the cash
dividend per
2
REIT Share declared by the Managing Member for holders of REIT
Shares on that LLC Record Date, multiplied by (ii) the Adjustment
Factor in effect on that LLC Record Date.
7. Transferred Properties. The definition of "Transferred Properties"
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contained in Article I is hereby deleted and replaced with the following:
"Transferred Properties" means the "Properties" as that term
is defined in the Contribution Agreement, except for the Properties
known as "Xxxxxxxxx" and "Xxxxxx" which are to be contributed to
HCPI/Xxxxxxxxx and HCPI/Xxxxxx, respectively, and shall also mean a
one-hundred percent (100%) membership interest in HCPI/Xxxxxxxxx
and a one-hundred percent (100%) membership interest in HCPI/Xxxxxx.
8. Effect of Amendment. Except to the extent expressly modified by
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this Amendment, the LLC Agreement remains in full force and effect.
9. Conflicting Terms Wherever the terms of this Amendment and the
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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.
10. Defined Terms. All terms used in this Amendment with initial
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capital letters and not defined herein shall have the meaning given to such
terms in the LLC Agreement.
[Signatures on Next Page]
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IN WITNESS WHEREOF, the undersigned have executed this Amendment as
of the date first written above.
MANAGING MEMBER: HEALTH CARE PROPERTY INVESTORS,
INC., a Maryland corporation
By: _____________________________________
Name: Xxxxxx X. Xxxxxxx
Title: Senior Vice President, General Counsel
and Corporate Secretary
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NON-MANAGING MEMBERS: THE XXXXX COMPANY, L.C.,
a Utah limited liability company,
in its capacity as Managing Member of each
limited liability company named below as a
"Non-Managing Member" and in its capacity as
General Partner of each limited partnership
named below as a "Non-Managing Member"
By: _______________________________________
Name: _______________________________________
Its: _______________________________________
Non-Managing Member
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XXXXX OLD MILL II, L.C., a Utah limited liability company
XXXXX-RESEARCH PARK ASSOCIATES, LTD., a Utah limited partnership
XXXXX RESEARCH PARK ASSOCIATES VII, L.C., a Utah limited liability company
CHIMNEY RIDGE, L.C., a Utah limited liability company
XXXXX-FOOTHILL ASSOCIATES, LTD., a Utah limited partnership
XXXXX RESEARCH PARK ASSOCIATES VI, L.C., a Utah limited liability company
XXXXX STANSBURY II, X.X., a Utah limited liability company
XXXXX RANCHO VISTOSO, L.C., a Utah limited liability company
XXXXX-ALTA VIEW ASSOCIATES, LTD., a Utah limited partnership
XXXXX KAYSVILLE ASSOCIATES, L.C., a Utah limited liability company
XXXXX XXXXX HIGHLANDS DENTAL CLINIC, L.C., a Utah limited liability company
AMARILLO XXXX ASSOCIATES, a Utah general partnership
XXXXX EVANSTON, L.C., a Utah limited liability company
XXXXX DENVER MEDICAL, L.C., a Utah limited liability company
XXXXX NORTHWEST MEDICAL CENTER TWO, L.C., a Utah limited liability company
XXXXX XXXXXXXX MEDICAL, L.C., a Utah limited liability company
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EXHIBIT A
MEMBERS' CAPITAL CONTRIBUTIONS
Non-Managing Members
Address:
with a copy to:
c/o The Xxxxx Company, X.X. Xxxx, Waddoups, Brown, Gee & Xxxxxxxx
000 Xxxxx 000 Xxxx, Xxxxx 000 000 Xxxxx Xxxxx Xxxxxx, Xxxxx 0000
Xxxx Xxxx Xxxx, Xxxx 00000 Xxxx Xxxx Xxxx, Xxxx 00000-0000
Attention: Xxxxxx X. Xxxxxx Attention: Xxxxx X. Xxx, Esq.
Telephone No.: (000) 000-0000 Telephone No.: (000) 000-0000
Facsimile No.: (000) 000-0000 Facsimile No.: (000) 000-0000
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Member Contribution Gross Asset Value of Net Asset Value of Unit Value Number of
Contribution Contribution Units
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Xxxxx-Research Park Associates, Ltd. ARUP I / XXXX XX $25,313,000.00 $9,815,414.25 $34.80 282,052
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Xxxxx Research Park Associates VII, L.C. ARUP III $10,000,000.00 $5,171,620.63 $34.80 148,609
and Chimney Ridge, L.C.
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Xxxxx-Foothill Associates, Ltd. Myriad I $7,498,000.00 $3,153,549.02 $34.80 90,619
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Xxxxx-Research Park Associates VI, L.C. Myriad II $6,450,000.00 $2,087,736.74 $34.80 59,991
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Xxxxx-Foothill Associates, Ltd. Myriad III $10.00 $0.00 $34.80 0
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Xxxxx Old Mill II, L.C. Old Mill $10,451,000.00 $2,484,180.37 $34.80 71,383
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Xxxxx Rancho Vistoso, L.C. Rancho Vistoso $7,121,294.00 $1,809,162.84 $34.80 51,987
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Xxxxx Kaysville Associates, L.C. HCA Supply $4,985,409.00 $995,190.82 $34.80 28,597
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Xxxxx Xxxxx Highlands Dental Clinic, X.X. Xxxxx Dental $1,144,000.00 $197,823.32 $34.80 5,685
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Xxxxx Xxxxxxxxx II, X.X. Xxxxxxxxx $3,588,800.00 $1,182,155.39 $34.80 33,969
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Xxxxx-Alta View Associates, Ltd. Xxxxxx $3,836,000.00 $1,001,889.25 $34.80 28,789
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Total Non-Managing Member Units $80,387,513.00 $27,898,722.63 801,681
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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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Member Contribution Gross Asset Net Asset Value of Unit Value Number of
Value of Contribution Units
Contribution
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Health Care Property Cash (Initial Closing) $32,813,385.11 $32,813,385.11 $34.80 942,913
Investors, Inc.
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Health Care Property Cash (Subsequent $489,374.08 $489,374.08 $34.80 14,062
Investors, Inc. Closing: 10/30/01)
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Total Managing Member Units $33,302,759.19 $33,302,759.19 956,975
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