GUARANTY OF LEASE AND LETTER OF CREDIT AGREEMENTLease and Letter of Credit Agreement • May 15th, 2002 • Alterra Healthcare Corp • Services-social services • California
THIS GUARANTY OF LEASE AND LETTER OF CREDIT AGREEMENT (this "Guaranty" ) is executed as of April 9, 2002 by Alterra Healthcare Corporation, a Delaware corporation (" Guarantor" ), in favor of the Entities Listed on Schedule 1 (collectively, " Landlord" ). R E C I T A L S A. Landlord and ALS Leasing, Inc., a Delaware corporation (" ALS Leasing" ), and Assisted Living Properties, Inc., a Kansas corporation (" ALP" and, collectively with ALS Leasing, " Tenant" ), have entered into that certain Master Lease of even date herewith (the " Lease" ) whereby Landlord has agreed to lease to Tenant the Premises, as more specifically set forth in the Lease. All initially capitalized terms used herein and not otherwise defined herein shall have the meaning ascribed to such terms in the Lease. B. Landlord and Tenant have entered into that certain Letter of Credit Agreement (the " Letter of Credit Agreement" ) of even date herewith, whereby Tenant has agreed to post and maintain a letter of credit
