SUBLEASE AGREEMENTSublease Agreement • August 5th, 2015 • Adcare Health Systems, Inc • Services-skilled nursing care facilities
THIS SUBLEASE AGREEMENT (this “Sublease”) is entered into as of the 1st day of August, 2015 (the “Execution Date”) by and between ADCARE HEALTH SYSTEMS, INC., a Georgia corporation (“Sublessor”) and CC SNF, LLC, a Florida limited liability company (“Sublessee”), for the improved real property described on Exhibit “A-1” (the “Premises”), on which Premises is located that certain 100 bed skilled nursing facility located at 75 Mote Drive, Covington, Ohio 45318, including the “Sublessor Personal Property” associated therewith described on Exhibit “A-2” (the Sublessor Personal Property together with the Premises, being collectively the “Facility”). Certain capitalized terms used in this Sublease are defined on Exhibit “B”.
ADCARE HEALTH SYSTEMS, INC. AND SUBSIDIARIES UNAUDITED PRO FORMA CONDENSED CONSOLIDATED FINANCIAL STATEMENTSAdcare Health Systems, Inc • August 5th, 2015 • Services-skilled nursing care facilities
As previously disclosed, certain wholly owned subsidiaries of the Company (each, a “Beacon Sublessor”) entered into five sublease agreements, in or around October 2014, pursuant to which those subsidiaries shall lease four skilled nursing facilities and one assisted living facility located in Ohio (collectively, the “Beacon Facilities”) to certain affiliates of Beacon Health Management, LLC (each, a “Beacon Sublessee”) who will take over operations of the Beacon Facilities. On August 1, 2015, the Beacon Sublessors and the Beacon Sublessees entered into new sublease agreements that replaced the existing sublease agreements entered into in or around October 2014. Each of these new sublease agreements became effective on August 1, 2015 and the operations of the Beacon Facilities were transferred to the Beacon Sublessees. The Beacon Facilities constitute the following five properties:
LEASE INDUCEMENT FEE AGREEMENTLease Inducement Fee Agreement • August 5th, 2015 • Adcare Health Systems, Inc • Services-skilled nursing care facilities • Georgia
THIS LEASE INDUCEMENT FEE AGREEMENT (this “Agreement”) is made and entered into as of August 1, 2015 (the “Effective Date”), by and between ADCARE HEALTH SYSTEMS, INC., a Georgia corporation (“AdCare”) and PWW HEALTHCARE, LLC, PV SNF LLC, HC SNF, LLC, CC SNF, LLC, EW SNF LLC AND EW ALF, LLC (collectively, the “Beacon Entities”).
SUBLEASE AGREEMENTSublease Agreement • August 5th, 2015 • Adcare Health Systems, Inc • Services-skilled nursing care facilities
THIS SUBLEASE AGREEMENT (this “Lease”) is entered into as of the 1st day of August, 2015 (the “Execution Date”) by and between RMC HUD MASTER TENANT, LLC a Georgia limited liability company (“Lessor”) and PV SNF, LLC, a Florida limited liability company (“Lessee”), for the improved real property described on Exhibit “A-1” (the “Premises”), on which Premises is located that certain 50 bed skilled nursing facility located at 705 Fulton Street, Sidney, Ohio 45365, including the “Lessor Personal Property” associated therewith described on Exhibit “A-2” (the Lessor Personal Property together with the Premises, being collectively the “Facility”). Certain capitalized terms used in this Lease are defined on Exhibit “B”.
