LOAN NO. 07-0004024 LOAN AGREEMENT AMONG GENERAL ELECTRIC CAPITAL CORPORATION, A DELAWARE CORPORATION, AS LENDER AND EMERITUS REALTY II, LLC EMERITUS REALTY III, LLC EMERITUS REALTY V, LLC EMERITUS REALTY VII, LLC EMERITUS REALTY XIV, LLC EMERITUS...Loan Agreement • March 28th, 2003 • Emeritus Corp\wa\ • Services-nursing & personal care facilities • Illinois
16,000,000 LOAN AGREEMENT Dated as of December 6, 2002 Between EMERITUS REALTY CORPORATION, a Nevada corporation, as Borrower; -- -------- and HEALTH CARE PROPERTY INVESTORS, INC., a Maryland corporation, as Lender. -- ------Loan Agreement • March 28th, 2003 • Emeritus Corp\wa\ • Services-nursing & personal care facilities
B. The parties desire to extend the Maturity Date, divide the Note into two separate promissory notes, to be referred to as Note A and Note B, as hereinafter defined, and to amend certain other covenants, terms and conditions of the Agreement. AgreementLoan Agreement • March 28th, 2003 • Emeritus Corp\wa\ • Services-nursing & personal care facilities
MASTER LEASE between EMERITUS REALTY VII, LLC; EMERITUS REALTY V, LLC; ESC-PORT ST. RICHIE, LLC; EMERITUS REALTY II, LLC; EMERITUS REALTY XIV, LLC; EMERITUS REALTY BOZEMAN, LLC; EMERITUS REALTY III, LLC; and EMERITUS REALTY PUYALLUP, LLC collectively,...Master Lease • March 28th, 2003 • Emeritus Corp\wa\ • Services-nursing & personal care facilities • California
PROMISSORY NOTE $16,000,000.00 December 6, 2002Promissory Note • March 28th, 2003 • Emeritus Corp\wa\ • Services-nursing & personal care facilities
Upon the occurrence of an Event of Default (as defined in the Loan Agreement) which is not cured within the applicable grace period set forth in the Loan Agreement, the holder of this Note may, at its option, without notice to or demand upon Borrower or any other party, declare immediately due and payable the entire principal balance hereof together with all accrued and unpaid interest thereon, plus any other amounts then owing pursuant to this Note, whereupon the same shall be immediately due and payable
RECITALSPromissory Note • March 28th, 2003 • Emeritus Corp\wa\ • Services-nursing & personal care facilities
