EMERITUS CORP\WA\
PURCHASE SALE AGREEMENT 06 14 07 HCPI 40 COMMUNITIES
<DOCUMENT>
<TYPE>EX-10.6701
<SEQUENCE>8
<FILENAME>psadatedjun142007hcpi.htm
<DESCRIPTION>PURCHASE SALE AGREEMENT 06 14 07 HCPI 40 COMMUNITIES
<TEXT>
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      AND SALE AGREEMENT</strong></font></div>
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      and
      Between</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">HEALTH
      CARE PROPERTY INVESTORS, INC.,</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">a
      Maryland corporation,</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">HCPI
      TRUST,</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">a
      Maryland real estate trust,</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">EMERITUS
      REALTY V, LLC,</font></div>
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      Delaware limited liability company,</font></div>
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      CASA GRANDE, LLC,</font></div>
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      Delaware limited liability company,</font></div>
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      HCP
      HOLDING, L.P.,</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">a
      Delaware limited partnership,</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">and</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">HCP
      AL OF
      FLORIDA, LLC,</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">a
      Delaware limited liability company,</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">each
      a
&#8220;Seller,&#8221; and collectively, as &#8220;Sellers&#8221;</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">and</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">EMERITUS
      CORPORATION,</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">a
      Washington corporation,</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">as
      &#8220;Buyer&#8221;</font></div>
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              <td valign="top" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
              <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
              <td valign="top" width="54%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>TABLE
                  OF CONTENTS</strong></font></div>
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              <td valign="top" width="5%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
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              <td valign="top" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
              <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
              <td valign="top" width="54%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
              <td valign="top" width="5%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Page</font></div>
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              <td align="right" valign="top" width="4%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">1</font></div>
              </td>
              <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
              <td align="left" valign="top" width="54%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">DEFINITIONS</font></div>
              </td>
              <td align="right" valign="top" width="5%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">1</font></div>
              </td>
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            <tr>
              <td align="right" valign="top" width="4%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">2</font></div>
              </td>
              <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
              <td align="left" valign="top" width="54%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">SALE
                  OF THE PROPERTIES</font></div>
              </td>
              <td align="right" valign="top" width="5%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">8</font></div>
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              <td align="right" valign="top" width="4%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">3</font></div>
              </td>
              <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
              <td align="left" valign="top" width="54%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">ESCROW</font></div>
              </td>
              <td align="right" valign="top" width="5%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">8</font></div>
              </td>
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              <td align="right" valign="top" width="4%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">4</font></div>
              </td>
              <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
              <td align="left" valign="top" width="54%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">PURCHASE
                  PRICE; ALLOCATION OF PURCHASE PRICE</font></div>
              </td>
              <td align="right" valign="top" width="5%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">9</font></div>
              </td>
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            <tr>
              <td align="right" valign="top" width="4%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">5</font></div>
              </td>
              <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
              <td align="left" valign="top" width="54%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">CONDITIONS
                  TO CLOSING; AS IS PURCHASE</font></div>
              </td>
              <td align="right" valign="top" width="5%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">10</font></div>
              </td>
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              <td align="right" valign="top" width="4%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">6</font></div>
              </td>
              <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
              <td align="left" valign="top" width="54%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">CLOSING
                  OF ESCROW</font></div>
              </td>
              <td align="right" valign="top" width="5%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">12</font></div>
              </td>
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              <td align="right" valign="top" width="4%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">7</font></div>
              </td>
              <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
              <td align="left" valign="top" width="54%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">TERMINATION</font></div>
              </td>
              <td align="right" valign="top" width="5%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">19</font></div>
              </td>
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            <tr>
              <td align="right" valign="top" width="4%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">8</font></div>
              </td>
              <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
              <td align="left" valign="top" width="54%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">REPRESENTATIONS
                  AND WARRANTIES</font></div>
              </td>
              <td align="right" valign="top" width="5%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">21</font></div>
              </td>
            </tr>
            <tr>
              <td align="right" valign="top" width="4%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">9</font></div>
              </td>
              <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
              <td align="left" valign="top" width="54%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">CERTAIN
                  EVENTS PRIOR TO CLOSING</font></div>
              </td>
              <td align="right" valign="top" width="5%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">23</font></div>
              </td>
            </tr>
            <tr>
              <td align="right" valign="top" width="4%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">10</font></div>
              </td>
              <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
              <td align="left" valign="top" width="54%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">POST-CLOSING
                  MATTERS</font></div>
              </td>
              <td align="right" valign="top" width="5%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">24</font></div>
              </td>
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            <tr>
              <td align="right" valign="top" width="4%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">11</font></div>
              </td>
              <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
              <td align="left" valign="top" width="54%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">BROKERS</font></div>
              </td>
              <td align="right" valign="top" width="5%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">25</font></div>
              </td>
            </tr>
            <tr>
              <td align="right" valign="top" width="4%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">12</font></div>
              </td>
              <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
              <td align="left" valign="top" width="54%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">MISCELLANEOUS
                  PROVISIONS</font></div>
              </td>
              <td align="right" valign="top" width="5%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">25</font></div>
              </td>
            </tr>
            <tr>
              <td valign="top" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
              <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
              <td valign="top" width="54%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
              <td valign="top" width="5%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            </tr>
            <tr>
              <td valign="top" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
              <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
              <td align="left" valign="top" width="54%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">EXHIBITS</font></div>
              </td>
              <td valign="top" width="5%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            </tr>
            <tr>
              <td align="right" valign="top" width="4%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">A-1</font></div>
              </td>
              <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
              <td align="left" valign="top" width="54%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Description
                  of Emeritus Master Lease</font></div>
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              <td valign="top" width="5%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            </tr>
            <tr>
              <td align="right" valign="top" width="4%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">A-2</font></div>
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              <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
              <td align="left" valign="top" width="54%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Description
                  of Summerville Master Lease</font></div>
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              <td valign="top" width="5%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            </tr>
            <tr>
              <td align="right" valign="top" width="4%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">A-3</font></div>
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              <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
              <td align="left" valign="top" width="54%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Description
                  of Painted Post Lease</font></div>
              </td>
              <td valign="top" width="5%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            </tr>
            <tr>
              <td align="right" valign="top" width="4%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">B</font></div>
              </td>
              <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
              <td align="left" valign="top" width="54%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Escrow
                  General Provisions</font></div>
              </td>
              <td valign="top" width="5%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            </tr>
            <tr>
              <td align="right" valign="top" width="4%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">C</font></div>
              </td>
              <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
              <td align="left" valign="top" width="54%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">[RESERVED]</font></div>
              </td>
              <td valign="top" width="5%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            </tr>
            <tr>
              <td align="right" valign="top" width="4%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">D</font></div>
              </td>
              <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
              <td align="left" valign="top" width="54%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Form
                  of Bill of Sale</font></div>
              </td>
              <td valign="top" width="5%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            </tr>
            <tr>
              <td align="right" valign="top" width="4%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">E</font></div>
              </td>
              <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
              <td align="left" valign="top" width="54%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">[RESERVED]</font></div>
              </td>
              <td valign="top" width="5%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            </tr>
            <tr>
              <td align="right" valign="top" width="4%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">F</font></div>
              </td>
              <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
              <td align="left" valign="top" width="54%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Form
                  of Release of Claims</font></div>
              </td>
              <td valign="top" width="5%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            </tr>
            <tr>
              <td align="right" valign="top" width="4%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">G</font></div>
              </td>
              <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
              <td align="left" valign="top" width="54%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">List
                  of Properties and Purchase Price Allocation</font></div>
              </td>
              <td valign="top" width="5%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            </tr>
            <tr>
              <td align="right" valign="top" width="4%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">H</font></div>
              </td>
              <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
              <td align="left" valign="top" width="54%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Form
                  of Emeritus Master Lease Termination</font></div>
              </td>
              <td valign="top" width="5%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            </tr>

        </table>
      </div><br>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">&#160;</div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>i</strong></font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">&#160;</div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><br>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td align="right" valign="top" width="4%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">I</font></div>
              </td>
              <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
              <td align="left" valign="top" width="54%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Form
                  of Painted Post Lease Termination</font></div>
              </td>
              <td valign="top" width="5%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            </tr>
            <tr>
              <td valign="top" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
              <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
              <td valign="top" width="54%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
              <td valign="top" width="5%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            </tr>
            <tr>
              <td valign="top" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
              <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
              <td align="left" valign="top" width="54%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">SCHEDULE</font></div>
              </td>
              <td valign="top" width="5%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            </tr>
            <tr>
              <td align="right" valign="top" width="4%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">1</font></div>
              </td>
              <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
              <td align="left" valign="top" width="54%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Related
                  Purchase Agreements</font></div>
              </td>
              <td valign="top" width="5%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            </tr>
            <tr>
              <td valign="top" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
              <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
              <td valign="top" width="54%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
              <td valign="top" width="5%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            </tr>

        </table>
      </div><br>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">&#160;</div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>ii</strong></font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">&#160;</div>
        </div>
      </div><br><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>PURCHASE
      AND SALE AGREEMENT</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>AND
      JOINT ESCROW INSTRUCTIONS</u></strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">THIS
      PURCHASE AND SALE AGREEMENT AND JOINT ESCROW INSTRUCTIONS (this &#8220;Agreement&#8221;) is
      made and entered into as of June 14, 2007 (the &#8220;Effective Date&#8221;), by and among
      HEALTH CARE PROPERTY INVESTORS, INC., a Maryland corporation (&#8220;HCP&#8221;), HCPI
      TRUST, a Maryland real estate trust (&#8220;HCP Trust&#8221;), EMERITUS REALTY V, LLC, a
      Delaware limited liability company (&#8220;ER-V&#8221;), ESC-LA CASA GRANDE, LLC, a Delaware
      limited liability company (&#8220;ESC-La Casa Grande&#8221;), TEXAS HCP HOLDING, L.P., a
      Delaware limited partnership (&#8220;Texas HCP&#8221;), HCP AL OF FLORIDA, LLC, a Delaware
      limited liability company (&#8220;HCP AL&#8221;) (each, a &#8220;Seller,&#8221; and collectively,
&#8220;Sellers&#8221;) and EMERITUS CORPORATION, a Washington corporation (&#8220;Buyer&#8221;), as
      follows:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>RECITALS</u></strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">A.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Each
      Seller is the owner (fee or leasehold, as applicable) of one or more the
      Properties (as defined below) as indicated opposite the name of such Property
      on
<strong><u>Exhibit G </u></strong>attached hereto.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">B.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The
      Properties comprising the Emeritus Properties (as defined below) are currently
      leased by the applicable Seller or Sellers to Buyer and/or certain Affiliates
      (as defined below) of Buyer pursuant to the Emeritus Master Lease (as defined
      below).</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">C.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The
      Property also described herein as the Painted Post Property (as defined below)
      is currently leased by the applicable Seller to an Affiliate of Buyer pursuant
      to the Painted Post Lease (as defined below).</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">D.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The
      Properties comprising the Summerville Properties (as defined below) are
      currently leased, together with certain other property, by the applicable Seller
      or Sellers to Summerville Lessee (as defined below) pursuant to the Summerville
      Master Lease (as defined below).</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">E.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Buyer
      desires to purchase the Properties from Sellers and Sellers desires to sell
      the
      Properties to Buyer on the terms and subject to the conditions set forth
      herein.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>AGREEMENT</u></strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">NOW,
      THEREFORE, for good and valuable consideration, the receipt and sufficiency
      of
      which are hereby acknowledged, Buyer and Sellers agree as follows:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>1.</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>DEFINITIONS</u></strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">For
      all
      purposes of this Agreement, except as otherwise expressly provided herein or
      unless the context otherwise requires, (i) the terms defined in this Article
      have the meanings assigned to them in this Article and include the plural as
      well as the singular; (ii) all references in this Agreement to designated
&#8220;Articles,&#8221; &#8220;Sections&#8221; and other subdivisions are to the designated Articles,
      Sections and other subdivisions of this Agreement; (iii) the word &#8220;including&#8221;
shall have the same meaning as the phrase &#8220;including, without limitation,&#8221; and
      other phrases of similar</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
        </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">import;
      and (iv) the words &#8220;herein,&#8221; &#8220;hereof&#8221; and &#8220;hereunder&#8221; and other words of similar
      import refer to this Agreement as a whole and not to any particular Article,
      Section or other subdivision.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>1.1</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>1031
      Exchange</u></strong><strong>:</strong>&#160;&#160;As defined in Section
      6.8.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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      Charges</u></strong><strong>:&#160;&#160;</strong>With respect to each
      applicable Property, &#8220;Additional Charges,&#8221; as defined in the applicable Master
      Lease.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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      Rent</u></strong><strong>:</strong>&#160;&#160;With respect to each applicable
      Emeritus Property and the Painted Post Property,&#160;&#160;&#8220;Additional Rent,&#8221;
as defined in the Emeritus Master Lease or the Painted Post Lease, respectively
      (including &#8220;Percentage Rent&#8221; and &#8220;CPI Rent,&#8221; as each are defined in the Emeritus
      Master Lease or the Painted Post Lease, respectively).</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>1.4</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font><strong><u>Affiliate</u></strong><strong>:</strong>&#160;&#160;&#8220;Affiliate,&#8221;
      as defined in the Emeritus Master Lease.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>1.5</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font><strong><u>Allocated
      Purchase
      Price</u></strong><strong>: </strong>As defined in Section 4.1</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>1.6</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font><strong><u>Base
      Gross
      Revenues</u></strong><strong>:&#160;&#160;</strong>With respect to each
      applicable Emeritus Property and the Painted Post Property,&#160;&#160;&#8220;Base
      Gross Revenues,&#8221; as defined in the Emeritus Master Lease or the Painted Post
      Lease, respectively, with respect to such Property.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>1.7</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font><strong><u>Bill
      of
      Sale</u></strong><strong>:&#160;&#160;</strong>As defined in Section
      6.2.2.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>1.8</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font><strong><u>Cash
      Security
      Deposit</u></strong><strong>:</strong>&#160;&#160;&#8220;Cash Security Deposit,&#8221; as
      defined in the Emeritus Master Lease and the Painted Post Master
      Lease.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>1.9</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font><strong><u>Cash
      Security Deposit
      Credit</u></strong>.&#160;&#160;As defined in Section 4.3.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>1.10</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Close
      of Escrow, Closing Date and/or Closing</u></strong>:&#160;&#160;As defined in
      Section 6.1.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>1.11</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Closing
      Breakpoint</u></strong><strong>:</strong>&#160;&#160;As defined in Section 6.5.2
      below.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>1.12</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Closing
      Funds</u></strong><strong>:&#160;&#160;</strong>As defined in Section
      4.4.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>1.13</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Condemnation</u></strong><strong>:</strong>&#160;&#160;&#8220;Condemnation,&#8221;
      as defined in the Emeritus Master Lease.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>1.14</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Condemnor</u></strong><strong>:</strong>&#160;&#160;&#8220;Condemnor,&#8221;
      as defined in the Emeritus Master Lease.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>1.15</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Cost
      of Living Index</u></strong>:&#160;&#160;With respect to each applicable
      Property, &#8220;Cost of Living Index,&#8221; as defined in the applicable Master
      Lease.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>1.16</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Deed</u></strong><strong>:</strong>&#160;&#160;As
      defined in Section 6.2.1.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>1.17</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Earnest
      Money Deposit</u></strong><strong>:</strong>&#160;&#160;As defined in Section
      4.2.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>1.18</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Effective
      Date</u></strong><strong>:&#160;&#160;</strong>As defined in the preface to this
      Agreement.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>2</strong></font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div><br>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>1.19</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Emerald
      Hills Facility</u></strong>.&#160;&#160;The &#8220;Leased Property&#8221; (as defined in the
      Emeritus Master Lease) of the &#8220;Facility&#8221; (as defined in the Emeritus Master
      Lease) commonly known as &#8220;Emerald Hills&#8221; and located in Auburn,
      California.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>1.20</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Emeritus
      Lessee</u></strong><strong>:</strong>&#160;&#160;&#8220;Lessee,&#8221; as defined in the
      Emeritus Master Lease</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>1.21</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Emeritus
      Lessor</u></strong><strong>:</strong>&#160;&#160;&#8220;Lessor,&#8221; as defined in the
      Emeritus Master Lease.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>1.22</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Emeritus
      Master Lease</u></strong><strong>:</strong>&#160;&#160;That Amended and Restated
      Master Lease identified on <strong><u>Exhibit &#8220;A-1&#8221;</u></strong> attached hereto
      among the Emeritus Lessor and the Emeritus Lessee covering the Emeritus
      Properties and the Emerald Hills Facility, as more particularly described
      therein, as the same may have been amended or modified from time to time in
      accordance with the terms thereof.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>1.23</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Emeritus
      Properties</u></strong><strong>:</strong>&#160;&#160;Collectively, the &#8220;Leased
      Property&#8221; (as defined in the Emeritus Master Lease) of each &#8220;Facility&#8221; (as
      defined in the Emeritus Master Lease) listed on <strong><u>Exhibit
      G</u></strong> attached hereto as &#8220;Emeritus Properties,&#8221; less any portion of any
      which has been taken by reason of any Condemnation or other exercise of the
      power of eminent domain (each, an &#8220;Emeritus Property&#8221;).&#160;&#160;The parties
      acknowledge that the Emeritus Properties for purposes of this Agreement include
      the &#8220;Leased Property&#8221; of all of the &#8220;Facilities&#8221; covered by the Emeritus Master
      Lease except the Emerald Hills Facility.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>1.24</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>ER-V</u></strong><strong>:&#160;&#160;</strong>As
      defined in the preface to this Agreement.&#160;&#160;ER-V is the owner of the
      Emeritus Properties located in Englewood, Florida and Altamonte Springs,
      Florida.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>1.25</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>ESC-
      La Casa Grande</u></strong><strong>:&#160;&#160;</strong>As defined in the
      preface to this Agreement.&#160;&#160;ESC-La Casa Grande is the owner of the
      Emeritus Property located in New Port Richey, Florida.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>1.26</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Escrow
      Holder</u></strong><strong>:</strong>&#160;&#160;As defined in Section
      3.1.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>1.27</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Event
      of Default</u></strong><strong>: </strong>&#8220;Event of Default,&#8221; as defined in the
      applicable Master Lease with respect to such Property.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>1.28</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Funds</u></strong><strong>:</strong>&#160;&#160;Immediately
      available funds in the form of cash, wire transfer of funds, or a certified
      or
      bank cashier&#8217;s check drawn on a reputable financial institution acceptable to
      Escrow Holder.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>1.29</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Gross
      Revenues</u></strong><strong>:</strong>&#160;&#160;With respect to each
      applicable Property, &#8220;Gross Revenues,&#8221; as defined in the applicable Master Lease
      with respect to such Property.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>1.30</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Hazardous
      Substance</u></strong><strong>:</strong>&#160;&#160;With respect to each
      applicable Property, &#8220;Hazardous Substance,&#8221; as defined in the applicable Master
      Lease with respect to such Property.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>1.31</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>HCP</u></strong><strong>:&#160;&#160;</strong>As
      defined in the preface to this Agreement.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>1.32</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>HCP
      AL</u></strong><strong>:&#160;&#160;</strong>As defined in the preface to this
      Agreement.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>1.33</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>HCP
      Trust</u></strong><strong>:&#160;&#160;</strong>As defined in the preface to
      this Agreement.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>3</strong></font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div><br>
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      respect to each applicable Property, &#8220;Impositions,&#8221; as defined in the applicable
      Master Lease with respect to such Property.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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      Lease Facilities</u></strong><strong>: </strong>&#8220;Land Lease Facilities,&#8221; as
      defined in the Emeritus Lease (i.e., the Allentown, PN Facility and the Latrobe,
      PN Facility).</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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      Lease Rent</u></strong><strong>:&#160;&#160;</strong>&#8220;Land Lease Rent,&#8221; as
      defined in the Emeritus Master Lease.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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      applicable governmental laws, codes, ordinances, regulations, judgments,
      permits, approvals or other requirements.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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      Year</u></strong><strong>:</strong>&#160;&#160;With respect to each applicable
      Property, &#8220;Lease Year,&#8221; as defined in the applicable Master Lease with respect
      to such Property.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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      respect to (i) the Emeritus Master Lease, the Emeritus Lessee, (ii) the Painted
      Post Lease, the Painted Post Lessee, and (iii) the Summerville Master Lease,
      the
      Summerville Lessee.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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      respect to (i) the Emeritus Master Lease, the Emeritus Lessor, (ii) the Painted
      Post Lease, the Painted Post Lessor, and (iii) the Summerville Master Lease,
      the
      Summerville Lessor.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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      Any claim, liability, loss, cost, action, damage, expense or fees, including
      but
      not limited to reasonable attorney&#8217;s and paralegals&#8217; fees and costs of defense
      (each, a &#8220;Liability&#8221;).</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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      Lease Termination</u></strong><strong>:</strong>&#160;&#160;With respect
      to&#160;&#160;(a) the Emeritus Master Lease, a Master Lease Termination
      Agreement among the applicable Lessor and Lessee, in the form attached hereto
      as
<strong><u>Exhibit &#8220;H&#8221;</u></strong>, to be executed and delivered by such Lessor
      and Lessee on the Closing Date, and (b) the Painted Post Lease, a Lease
      Termination Agreement between the applicable Lessor and Lessee, in the form
      attached hereto as <strong><u>Exhibit &#8220;I&#8221;</u></strong>, to be executed and
      delivered by such Lessor and Lessee on the Closing Date.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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      Leases</u></strong><strong>:</strong>&#160;&#160;Collectively, the Emeritus
      Master Lease, the Summerville Master Lease and the Painted Post Lease (each,
      a
&#8220;Master Lease&#8221;).</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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      of Termination</u></strong><strong>:</strong>&#160;&#160;With respect to each
      Master Lease and Property for which a written memorandum or other evidence
      of
      such Master Lease with respect to such Property has been recorded in the
      applicable land records office where such Property is located, a memorandum
      of
      termination of such Master Lease in form and substance reasonably satisfactory
      to Buyer and Sellers, to be executed, acknowledged and delivered by the
      applicable Lessor and Lessee.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>1.45</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Minimum
      Rent</u></strong><strong>:&#160;&#160;</strong>With respect to each applicable
      Property, &#8220;Minimum Rent,&#8221; as defined in the applicable Master Lease with respect
      to such Property.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>4</strong></font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div><br>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>1.46</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>New
      Emeritus Guaranty</u></strong>.&#160;&#160;With respect to any and all
      Summerville Obligations, a written guaranty in form and substance reasonably
      acceptable to Sellers to be executed and delivered by Emeritus.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>1.47</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Opening
      of Escrow</u></strong><strong>:</strong>&#160;&#160;As defined in Section
      3.3.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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      Documents</u></strong><strong>:</strong>&#160;&#160;Collectively, as applicable,
      the articles or certificate of incorporation, certificate of limited partnership
      or certificate of limited liability company, bylaws, partnership agreement,
      operating company agreement, trust agreement, statements of partnership,
      fictitious business name filings and all other organizational documents relating
      to the creation, formation and/or existence of a business entity, together
      with
      resolutions of the board of directors, partner or member consents, trustee
      certificates, incumbency certificates and all other documents or instruments
      approving or authorizing the transactions contemplated by this
      Agreement.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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      Closing Date</u></strong><strong>:</strong>&#160;&#160;Subject to extension as
      provided Section 6.8 below, August 15, 2007.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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      Post Lease</u></strong><strong>:&#160;&#160;</strong>That Lease identified on
<strong><u>Exhibit &#8220;A-3&#8221;</u></strong> attached hereto between
      the Painted Post
      Lessor and the Painted Post Lessee covering the Painted Post Property, as the
      same may have been amended or modified from time to time in accordance with
      the
      terms thereof.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>1.51</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Painted
      Post Lessee</u></strong><strong>:</strong>&#160;&#160;&#8220;Lessee,&#8221; as defined in
      the Painted Post Lease.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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      Post Lessor</u></strong><strong>:</strong>&#160;&#160;&#8220;Lessor,&#8221; as defined in
      the Painted Post Lease.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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      Post Property</u></strong><strong>:</strong>&#160;&#160;The &#8220;Leased Property&#8221;
(as defined in the Painted Post Lease) of the
&#8220;Facility&#8221; (as defined in the
      Painted Post Lease), less any portion of any which has been taken by reason
      of
      any Condemnation or other exercise of the power of eminent domain.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>1.54</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Pennsylvania
      Land Leases</u></strong><strong>:&#160;&#160;</strong>&#8220;Pennsylvania Land
      Leases,&#8221; as defined in the Emeritus Master Lease.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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      Exceptions</u></strong><strong>:&#160;&#160;</strong>With respect to each
      Property, as defined in Section 6.2.1.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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      individual, corporation, partnership, joint venture, limited liability
      partnership, limited liability company, association, joint stock company, trust,
      unincorporated organization, whether or not a legal entity, or other business
      or
      governmental entity or authority (or any department, agency, or political
      subdivision thereof).</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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      the Emeritus Properties, the Summerville Properties and the Painted Post
      Property (each, a &#8220;Property&#8221;).</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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      Price</u></strong><strong>:</strong>&#160;&#160;As defined in Section
      4.1.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>5</strong></font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div><br>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>1.59</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Related
      Purchase Agreements</u></strong>:&#160;&#160;The agreements identified on
<strong><u>Schedule 1</u></strong> attached hereto between and/or among
      Sellers
      or certain Affiliates of Sellers, and Buyer, or certain Affiliates of Buyer,
      relating to certain purchase and sale transactions to be consummated
      concurrently with the Closing hereunder, if at all (each, a &#8220;Related Purchase
      Agreement&#8221;).</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>1.60</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Related
      Purchase Agreement Closing</u></strong>.&#160;&#160;The &#8220;Closing,&#8221; as defined in
      each Related Purchase Agreement.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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      Purchase Agreement Buyer Default</u></strong>.&#160;&#160;The occurrence of a
      default (i.e., after any applicable notice or cure period) by Buyer or any
      Affiliate of Buyer under any Related Purchase Agreement.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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      of Claims:</u></strong>&#160;&#160;As defined in Section 6.3.2.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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      and Charges</u></strong><strong>:</strong>&#160;&#160;All accrued and unpaid
      Minimum Rent, Additional Rent, Land Lease Rent and any Additional Charges
      (whether or not billed) payable by the applicable Lessee under the applicable
      Master Lease with respect to the applicable Properties, through and including
      the day prior to Closing Date (prorated to the extent applicable for the month
      during which the Closing occurs).</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>1.64</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Summerville</u></strong><strong>:</strong>&#160;&#160;Summerville
      Senior Living, Inc., a Delaware corporation.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>1.65</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Summerville
      Lessee</u></strong><strong>:</strong>&#160;&#160;&#8220;Lessee,&#8221; as defined in the
      Summerville Master Lease.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>1.66</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Summerville
      Lessor</u></strong><strong>:</strong>&#160;&#160;&#8220;Lessor,&#8221; as defined in the
      Summerville Master Lease.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>1.67</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Summerville
      Master Lease</u></strong><strong>:</strong>&#160;&#160;That Amended and Restated
      Master Lease identified on <strong><u>Exhibit &#8220;A-2&#8221;</u></strong> attached hereto
      among the Summerville Lessor and the Summerville Lessee covering the Summerville
      Properties and certain other property as more particularly described therein,
      as
      the same may have been amended or modified from time to time in accordance
      with
      the terms thereof.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>1.68</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Summerville
      Master Lease Amendment</u></strong><strong>:</strong>&#160;&#160;An amendment to
      the Amended and Restated Master Lease to be executed and delivered at Closing
      among the Summerville Lessor, the Summerville Lessee, Emeritus, as an additional
      and joint and several &#8220;Lessee&#8221; thereof, and consented to by Summerville, as
      Guarantor, providing for the following: (a) the termination of the Summerville
      Master Lease with respect to the Summerville Properties upon the Closing hereof;
      (b) an amendment to certain provisions of the Summerville Master Lease to
      reflect the fact that Emeritus is or will become the ultimate parent company
      of
      certain of the Lessee&#8217;s and Summerville, including amending Article XXIV thereof
      so as to (i) remove any exceptions to the &#8220;Transfer&#8221; provisions therein that are
      no longer applicable (e.g. removal of matters relating to Apollo Real Estate
      Investment Fund), (ii) modifying all appropriate references therein to
      Summerville to instead refer to Emeritus, and (iii) to measure any financial
      or
      similar tests specified therein applicable to Summerville as of any relevant
      date to instead mean Emeritus as of the Closing; and (c) the addition of the
      Emerald Hills Facility to the &#8220;Leased Property&#8221; of the Facilities covered by
      Summerville Master Lease upon the same economic terms (i.e., rent, rent
      escalations, term, renewal options, purchase options (if any), &#8220;transfer
      consideration,&#8221; etc.) as are applicable to the Facility and Emeritus under the
      Emeritus Master Lease, but otherwise upon</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>6</strong></font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">substantially
      the same other non-economic terms as are applicable to the balance of the
      Facilities leased pursuant to the terms of the Summerville Master Lease;
      provided, however, that with respect to the payment of Minimum Rent and
      Additional Rent with respect to the Emerald Hills Facility, such Rent shall
      be
      modified under the Summerville Master Lease so that all annual Minimum Rent
      and
      Additional Rent payable with respect to the Emerald Hills Facility are instead
      combined and paid in equal monthly installments in advance. Promptly upon the
      execution and delivery of this Agreement, Buyer and Sellers shall negotiate
      reasonably and good faith for the terms of such Summerville Master Lease
      Amendment to be executed and delivered at Closing; provided, however Buyer
      and
      Sellers agree that the form and substance of such document with respect to
      (1)
      the matters described in clause (a) above, shall substantially similar to the
      recent Sixth Amendment to the Emeritus Master Lease, and (2) the matters
      described in clause (c) above, shall be substantially similar to the recent
      Seventh Amendment to the Summerville Lease, with such changes thereto as
      necessary to reflect the economic terms described above.&#160;&#160;Buyers and
      Sellers covenant and agree to use good faith efforts to agree upon such form
      of
      such Summerville Master Lease no later than June 30, 2007.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>1.69</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Summerville
      Properties</u></strong><strong>:</strong>&#160;&#160;Collectively, the &#8220;Leased
      Property&#8221; (as defined in the Summerville Master Lease) of those &#8220;Facilities&#8221; (as
      defined in the Summerville Master Lease) listed on <strong><u>Exhibit
      G</u></strong> attached hereto as &#8220;Summerville Properties,&#8221; less any portion of
      any which has been taken by reason of any Condemnation or other exercise of
      the
      power of eminent domain (each, a &#8220;Summerville Property&#8221;).&#160;&#160;The parties
      acknowledge and agree that the Summerville Properties for purposes of this
      Agreement do not include the &#8220;Leased Property&#8221; of all of the Facilities covered
      by the Summerville Master Lease and only include those Facilities identified
      on
<strong><u>Exhibit G</u></strong> attached hereto as &#8220;Summerville
      Properties.&#8221;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>1.70</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Summerville
      Obligations</u></strong><strong>:</strong>&#160;&#160;Any and all obligations
      and other Liabilities of Summerville or any Affiliate of Summerville under
      any
      existing or hereinafter executed lease (including the Summerville Master Lease
      and the lease contemplated to be executed by HCP or an Affiliate of HCP with
      Summerville or an Affiliate of Summerville relating to a facility located in
      Orangevale, California), agreement, guaranty, mortgage, deed of trust or other
      instrument between or in favor of any Seller(s) or any Affiliate of Seller(s),
      on the one hand, and with or made by Summerville or an Affiliate of Summerville,
      on the other hand.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>1.71</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Texas
      HCP</u></strong><strong>:&#160;&#160;</strong>As defined in the preface to this
      Agreement.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>1.72</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Title
      Company</u></strong><strong>:&#160;&#160;</strong>Chicago Title Insurance
      Company, Attn: Angie Koetters, Escrow Officer, Fax
      No.:(312)223-5888.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>1.73</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Title
      Policies</u></strong><strong>:&#160;&#160;</strong>As defined in Section
      6.4.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>1.74</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Title
      Endorsements</u></strong><strong>:&#160;&#160;</strong>As defined in Section
      6.4.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>1.75</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Transaction
      Documents</u></strong><strong>:</strong>&#160;&#160;Collectively, this
      Agreement, the Deeds, the Bills of Sale, the Summerville Master Lease Amendment,
      each Master Lease Termination, each Related Purchase Agreement, each New
      Emeritus Guaranty and all other agreements, documents and/or instruments to
      be
      executed and/or delivered pursuant to and in connection with this Agreement,
      the
      Related Purchase Agreements and/or the Exhibits hereto or thereto.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>7</strong></font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div><br>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>1.76</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Transaction
      Taxes</u></strong>.&#160;&#160;Any and all federal, state, municipal or other
      local Law documentary transfer, stamp, sales, use, excise, privilege or similar
      tax, fee or charge payable in connection with the delivery of any instrument
      or
      document provided in or contemplated by this Agreement , any Related Purchase
      Agreement or the Exhibits hereto and thereto together with interest and
      penalties, if any, thereon, including any sales or similar taxes payable in
      connection with the transfer of any personal property comprising a part of
      any
      Property.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>2.</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>SALE
      OF THE PROPERTIES</u></strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Subject
      to the terms of the Addendum attached hereto, Buyer agrees to purchase and
      accept from Sellers, and Sellers agree to sell, convey and assign to Buyer,
      all
      of the Properties on the terms and subject to the conditions set forth
      herein.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>3.</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>ESCROW</u></strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>3.1</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font><strong><u>General
      Instructions</u></strong>.&#160;&#160;Title Company is also hereby designated as
      escrow holder (sometimes herein referred to as &#8220;Escrow
      Holder&#8221;).&#160;&#160;Escrow Holder&#8217;s Escrow number, Escrow Officer for the
      transactions contemplated hereby and under the Related Purchase Agreements,
      address for notices and wiring information is set forth below Title Company&#8217;s
      acceptance of this Escrow.&#160;&#160;Escrow Holder&#8217;s general conditions or
      provisions, which are attached hereto as <strong><u>Exhibit &#8220;B&#8221;</u></strong> are
      incorporated by reference herein; provided, however, that in the event of any
      inconsistency between <strong><u>Exhibit &#8220;B&#8221;</u></strong> and any of the
      provisions of this Agreement or any Related Purchase Agreement, the provisions
      of this Agreement or the Related Purchase Agreement, as applicable, shall
      control, respectively.&#160;&#160;Buyer and each Seller shall each execute,
      deliver and be bound by such further escrow instructions or other instruments
      as
      may be reasonably requested by the other party or by Escrow Holder from time
      to
      time, so long as the same are consistent with this Agreement.&#160;&#160;Escrow
      Holder shall not comply with the unilateral instructions of only one party
      without the consent of the other party hereto unless otherwise expressly
      required to do so in this Agreement or any Related Purchase
      Agreement.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>3.2</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font><strong><u>Tax
      Reporting
      Person</u></strong>.&#160;&#160;For purposes of complying with Internal Revenue
      Code &#167; 6045(e), as amended effective January&#160;1, 1991, Escrow Holder is
      hereby designated as the &#8220;person responsible for closing the transaction,&#8221; and
      also as the &#8220;reporting person&#8221; for purposes of filing any information returns
      with the Internal Revenue Service concerning this transaction, as required
      by
      law.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>3.3</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font><strong><u>Opening
      of
      Escrow</u></strong>.&#160;&#160;Escrow shall be deemed open when not less than
      four (4) originals of this Agreement and each Related Agreement, fully signed
      by
      all parties hereto or thereto either together or in counterparts, are delivered
      to Escrow Holder (the &#8220;Opening of Escrow&#8221;), which shall occur within one (1)
      business day after execution of this Agreement by Buyer and Sellers and each
      Related Purchase Agreement by the Parties thereto.&#160;&#160;Escrow Holder
      shall immediately notify Buyer, Sellers and their respective attorneys in
      writing of the official date of the Opening of Escrow.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>8</strong></font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div><br>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>4.</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>PURCHASE
      PRICE; ALLOCATION OF PURCHASE PRICE</u></strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>4.1</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font><strong><u>Purchase
      Price</u></strong>.&#160;&#160;The purchase price for the Properties shall be
      Four Hundred Eighty-Two Million Five Hundred Thousand Dollars and 00/100ths
      ($482,500,000.00) (the &#8220;Purchase Price&#8221;).&#160;&#160;The Purchase Price shall be
      allocated among the Properties and the various components thereof as set forth
      on <strong><u>Exhibit &#8220;G&#8221;</u></strong> attached hereto and incorporated herein
      by this reference (with respect each Property, the &#8220;Allocated Purchase
      Price&#8221;)..</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>4.2</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font><strong><u>Earnest
      Money</u></strong><u>&#160;</u><strong><u>Deposit</u></strong>.&#160;&#160;Concurrently
      with the execution hereof by Buyer, Buyer shall deposit with the Escrow Holder
      the sum of Five Million Dollars and 00/100ths ($5,000,000.00) (the &#8220;Earnest
      Money Deposit&#8221;).&#160;&#160;Escrow Holder shall hold the Earnest Money Deposit
      in United States Treasury obligations or treasury-backed repurchase agreements,
      or such other investment as may be selected by Buyer and reasonably approved
      by
      Sellers on a funds investment form provided by Escrow Holder.&#160;&#160;All
      interest or other amounts earned upon the Earnest Money Deposit shall become
      part of the Earnest Money Deposit and shall be applied with the Earnest Money
      Deposit in accordance with the terms and provisions of this
      Agreement.&#160;&#160;If the Closing occurs pursuant to the provisions of this
      Agreement and each Related Purchase Agreement Closing occurs under each Related
      Purchase Agreement, the Earnest Money Deposit, plus all accrued interest or
      other amounts earned thereon, shall be applied against the Purchase Price
      hereunder and against the purchase price payable under each Related Purchase
      Agreement, as directed by Buyer.&#160;&#160;If the Closing fails to occur under
      the provisions of this Agreement or any Related Purchase Agreement Closing
      fails
      to occur under any Related Purchase Agreement, the Earnest Money Deposit, plus
      all accrued interest or other amounts earned thereon, shall be either delivered
      to Buyer, or delivered to Sellers as non-refundable liquidated damages (and
      not
      as a penalty), as determined by the provisions of Sections 7
      below.&#160;&#160;In the event that Sellers are entitled to retain the Earnest
      Money Deposit plus accrued interest or other amounts earned thereon pursuant
      to
      Section 7.2.1 below, the allocation of Earnest Money Deposit plus accrued or
      other amounts earned interest thereon among each Seller, shall be as determined
      by Sellers, and neither Buyer nor Escrow Holder shall be concerned
      therewith.&#160;&#160;Notwithstanding the foregoing or any other provision
      hereof to the contrary, the sum of One Hundred Dollars and 00/100ths ($100.00)
      out of the Earnest Money Deposit is independent of any other consideration
      provided hereunder, shall be fully earned by Sellers upon the Effective Date
      hereof, and is not refundable to Buyer under any
      circumstances.&#160;&#160;Accordingly, if this Agreement is terminated for any
      reason by either party, such independent consideration shall be paid by Escrow
      Holder to Sellers.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>4.3</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font><strong><u>Cash
      Security Deposit
      Credit</u></strong>.&#160;&#160;Buyer and Sellers acknowledge and agree that, as
      of the Effective Date, the Emeritus Lessee and the Painted Post Lessee have
      together deposited with the applicable Lessor pursuant to Article XXI of the
      Emeritus Master Lease and Article XXI of the Painted Post Lease, a Cash Security
      Deposit in the approximate aggregate amount of $3,055,328.66.&#160;&#160;In
      addition, as of the Effective Date, accrued and unpaid interest on such
      aggregate Cash Security Deposit is approximately $34,466.80.&#160;&#160;Pursuant
      to the each Master Lease Termination, the applicable Lessor thereunder has
      agreed that the applicable Lessee may cause such Lessor to apply all or a
      portion of the sum of the following to the Purchase Price payable hereunder
      and/or to the purchase price payable under any Related Purchase
      Agreement:&#160;&#160;(i) the entire aggregate Cash Security Deposit, plus (ii)
      all accrued and unpaid interest on such Cash Security Deposit as of the Closing
      Date. The amount of the forgoing that Buyer elects to cause the applicable
      Lessee to apply towards the Purchase Price hereunder and/or to the
      purchase</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>9</strong></font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">price
      payable under any Related Purchase Agreement shall be referred to herein as
      the
&#8220;Cash Security Deposit Credit.&#8221;&#160;&#160;No later than 2:00 p.m., Pacific
      Standard Time, on the day prior to the Closing Date, Buyer shall cause the
      applicable Lessee to deliver to the applicable Lessor written instructions
      as to
      the amount of Cash Security Deposit Credit, and at the Closing, the applicable
      Lessor shall deliver outside of Escrow the Cash Security Deposit Credit from
      the
      Cash Security Deposit under the Emeritus Master Lease and Painted Post
      Lease.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>4.4</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font><strong><u>Closing
      Funds</u></strong>.&#160;&#160;No later than 2:00 p.m., Pacific Standard Time,
      on the Closing Date, Escrow Holder shall calculate and Buyer shall wire Funds
      into Escrow (using wiring instructions reasonably satisfactory to Escrow Holder)
      in an amount which, when added to the Cash Security Deposit Credit, shall equal
      the Purchase Price plus any other sums payable by Buyer hereunder (the &#8220;Closing
      Funds&#8221;).</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>5.</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>CONDITIONS
      TO CLOSING; AS IS PURCHASE</u></strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>5.1</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font><strong><u>Buyer&#8217;s
      Conditions</u></strong>. Provided that Buyer is not in breach or default of any
      provisions of this Agreement, the obligation of Buyer to purchase the Properties
      shall be subject to satisfaction of each of the conditions set forth in this
      Section 5.1 on and as of the Closing Date.&#160;&#160;Sellers and Buyer
      expressly acknowledge and agree that each of the conditions set forth in this
      Section 5.1 is for the benefit of and may be waived only by Buyer as herein
      provided.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>5.1.1</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Sellers&#8217;
      Representations and Warranties</u></strong>.&#160;&#160;The representations and
      warranties of each Seller set forth in Section 8 below and of HCP in the
      Addendum attached hereto shall be true and correct in all material respects
      on
      the Closing Date as if made again on the Closing Date.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>5.1.2</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Sellers&#8217;
      Performance</u></strong>.&#160;&#160;Each Seller shall have performed all of its
      obligations under this Agreement and the Addendum hereto which by the terms
      of
      this Agreement are required to be performed by such Seller as of or prior to
      the
      Closing Date.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>5.1.3</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Purchase
      of All the Properties</u></strong>.&#160;&#160;The Closing hereunder shall occur
      simultaneous with respect to all of the Properties.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>5.1.4</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Occurrence
      of the Closing by the Outside Date</u></strong>.&#160;&#160;The Closing
      hereunder shall occur on or before the Outside Closing Date.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>5.1.5</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Related
      Purchase Agreements</u></strong>.&#160;&#160;The Related Purchase Agreement
      Closing under each Related Purchase Agreement shall occur simultaneous with
      the
      Closing hereunder.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>5.2</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font><strong><u>Buyer&#8217;s
      Approval,
      Disapproval or Waiver of
      Conditions</u></strong><strong>.&#160;&#160;</strong>Prior to Closing Buyer
      shall notify Sellers and Escrow Holder in writing in the event that as of the
      date of Closing, any of the conditions set forth in Section 5.1 have not been
      satisfied or waived by Buyer; provided, however, that if any of the conditions
      set forth in Sections 5.1.3, 5.1.4&#160;&#160;or 5.1.5 have not been satisfied
      as a result of any act or omission of Buyer or any Affiliate of Buyer, then
      Buyer shall not be entitled to disapprove such condition, but rather the same
      shall, following any applicable notice and cure period pursuant to Section
      7.2
      below, constitute a default by Buyer hereunder.&#160;&#160;In the event that
      Buyer is not entitled to disapprove a condition or Buyer fails to</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>10</strong></font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">approve,
      disapprove or waive such condition, if applicable, within the time and in the
      manner herein specified, then such condition shall be deemed conclusively
      satisfied or waived by Buyer and thereafter shall not be a condition precedent
      to the performance by Buyer of its respective obligations
      hereunder.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>5.3</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font><strong>&#8220;</strong><strong><u>AS
      IS&#8221;
SALE</u></strong>.&#160;&#160;IT IS EXPRESSLY UNDERSTOOD AND AGREED THAT BUYER
      IS ACQUIRING EACH OF THE PROPERTIES &#8220;AS IS,&#8221; IN ITS PRESENT STATE AND CONDITION,
      WITHOUT ANY REPRESENTATIONS OR WARRANTIES FROM SELLERS, OR ANY OF THEM, OF
      ANY
      KIND WHATSOEVER, EITHER EXPRESS OR IMPLIED, EXCEPT AS EXPRESSLY SET FORTH IN
      SECTION 8 BELOW AND THE ADDENDUM HERETO.&#160;&#160;IN PARTICULAR, EXCEPT AS
      EXPRESSLY SET FORTH IN SECTION 8 BELOW AND THE ADDENDUM HERETO, SELLERS MAKE
      NO
      REPRESENTATION OR WARRANTY RESPECTING THE USE, CONDITION, TITLE, OPERATION
      OR
      MANAGEMENT OF ANY OF THE PROPERTIES, OR COMPLIANCE WITH ANY APPLICABLE LAWS
      RELATING TO ZONING, SUBDIVISION, PLANNING, BUILDINGS, FIRE, SAFETY, EARTHQUAKE,
      HEALTH OR ENVIRONMENTAL MATTERS, THE PRESENCE OR ABSENCE OF HAZARDOUS
      SUBSTANCES, OR COMPLIANCE WITH ANY OTHER COVENANTS, CONDITIONS AND RESTRICTIONS
      (WHETHER OR NOT OF RECORD).&#160;&#160;Buyer represents that it is knowledgeable
      in real estate matters and is relying upon Buyer&#8217;s own investigation and
      analysis in purchasing each of the Properties, as well as the fact that Buyer,
      Summerville or their respective Affiliates originally sold to and/or developed
      on behalf of each applicable Seller each of the Properties and at all times
      thereafter have leased and exclusively controlled the same.&#160;&#160;Buyer
      further represents that it has had ample opportunity to inspect and has, in
      fact, made all of the investigations Buyer deems necessary in purchasing each
      of
      the Properties.&#160;&#160;As a result, Buyer hereby expressly waives any notice
      requirements which may be imposed upon any Seller pursuant to &#167; 25359.7 of the
      California Health &amp; Safety Code or any other similar and applicable
      Laws.&#160;&#160;If this Agreement is not terminated and Buyer acquires the
      Properties as provided herein, Buyer shall have thereby approved all aspects
      of
      each of the Properties and this transaction and thereby waives any claim or
      Liability against Sellers, and each of them.&#160;&#160;In furtherance of the
      foregoing, at the Closing, Buyer shall and shall cause each Lessee to execute
      and deliver to Sellers the Release of Claims. The provisions of this Section
      5.3
      shall survive the Closing.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>5.4</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font><strong><u>Seller&#8217;s
      Conditions</u></strong>.&#160;&#160;Provided that Sellers are not in breach or
      default of any provision of this Agreement, the obligation of each Seller to
      sell the Properties (and each of them) shall be subject to satisfaction of
      each
      of the conditions set forth in this Section 5.4.&#160;&#160;Sellers and Buyer
      expressly acknowledge and agree that each of the conditions set forth in this
      Section 5.4 is for the benefit of and may be waived only by Sellers in
      writing.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>5.4.1</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>No
      Default Under Master Leases</u></strong>.&#160;&#160;Prior to the Closing,
      (a)&#160;no Event of Default, or event which with notice and/or passage of time
      would constitute an Event of Default by the applicable Lessee under any Master
      Lease shall have occurred and be continuing and (b)&#160;all Rent and Charges
      shall be paid as and when due under each Master Lease, through but not including
      the Closing Date.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>5.4.2</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Purchase
      of All Properties</u></strong>.<strong>&#160;</strong>The Closing hereunder
      shall occur simultaneously with respect to all of the Properties.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>11</strong></font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div><br>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>5.4.3</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Occurrence
      of Closing by the Outside Closing Date</u></strong>.&#160;&#160;The Closing
      shall occur on or before the Outside Closing Date.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>5.4.4</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Related
      Purchase Agreements</u></strong>.&#160;&#160;The Related Purchase Agreement
      Closing under each Related Purchase Agreement shall occur simultaneous with
      the
      Closing.&#160;&#160;In addition, no Related Purchase Agreement Buyer Default
      under any Related Purchase Agreement shall have occurred and be
      continuing.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>5.4.5</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Buyer&#8217;s
      Representations and Warranties</u></strong>.&#160;&#160;Buyer&#8217;s representations
      and warranties set forth in Section 8 below and in the Addendum attached hereto
      shall be true and correct in all material respects on the Closing Date as if
      made again on the Closing Date.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>5.4.6</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Buyer&#8217;s
      Performance</u></strong>.&#160;&#160;Buyer shall have performed all of its
      obligations under this Agreement and the Addendum hereto which by the terms
      of
      the Agreement are required to be performed by Buyer as of or prior to the
      Closing Date.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>5.4.7</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Board
      Approval</u></strong>.&#160;&#160;The transactions contemplated hereby and under
      the Related Purchase Agreements shall have been approved by the Board of
      Directors of HCP.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>5.5</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font><strong><u>Sellers&#8217;
Approval,
      Disapproval or Waiver of Conditions</u></strong><strong>.</strong> Prior to the
      Closing, Sellers shall notify Buyer and Escrow Holder in writing in the event
      that as of the date of Closing, any of the conditions set forth in Section
      5.4
      have not been satisfied or waived by Sellers; provided, however, that if any
      of
      the conditions set forth in Sections 5.4.2 , 5.4.3 or 5.4.4 have not been
      satisfied as a result of any act or omission of Sellers or any Affiliate of
      Sellers, then Sellers shall not be entitled to disapprove such condition, but
      rather the same shall, following any applicable notice and cure period pursuant
      to Section 7.2 below, constitute a default by Sellers hereunder.&#160;&#160;In
      the event that Sellers are not entitled to disapprove a condition or Sellers
      fail to approve, disapprove or waive such condition, if applicable, prior to
      the
      Closing, then such condition shall be deemed conclusively satisfied or waived
      by
      Sellers and thereafter shall not be a condition precedent to the performance
      by
      Sellers of their respective obligations hereunder.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>6.</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>CLOSING
      OF ESCROW</u></strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>6.1</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font><strong><u>Closing
      Date</u></strong>.&#160;&#160;Subject to extension in order to implement the
      provisions of Section 6.8, and unless this Agreement has been earlier terminated
      in accordance with the applicable provisions of Section 7 below, Escrow shall
      close on the Outside Closing Date; provided, however, that subject to
      satisfaction or waiver of each of the conditions set forth in Sections 5.1
      and
      5.4, Buyer shall be entitled to close Escrow prior to the Outside Closing Date
      upon not less than five (5) days&#8217; notice to Sellers and Escrow Holder; provided
      further, however, that in no event shall the closing occur prior to July 31,
      2007.&#160;&#160;The terms &#8220;Close of Escrow&#8221; and/or &#8220;Closing&#8221; are used in this
      Agreement to mean the time and date the transactions contemplated hereby are
      closed and the Deed has been delivered to Buyer through Escrow, regardless
      whether the applicable Deed is actually recorded in the land records in which
      the applicable Property is situated.&#160;&#160;The term &#8220;Closing Date&#8221; as used
      in this Agreement means the date that the Closing occurs.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>12</strong></font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div><br>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>6.2</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font><strong><u>Deposits
      by
      Sellers</u></strong>.&#160;&#160;At or before 5:00 p.m., local time in Los
      Angeles, California, on that date which is not less than one (1) business day
      before the Close of Escrow, Sellers shall deliver or cause to be delivered
      to
      Escrow Holder the following items for handling as described below; provided,
      however, that Escrow need not be concerned with the form or content but only
      with manual delivery of all of the following other than item 6.2.1:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>6.2.1</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Deeds</u></strong>.&#160;&#160;With
      respect to each Property, a duly executed and acknowledged grant deed, special
      warranty deed or equivalent thereof in the applicable State (each a &#8220;Deed&#8221;)
      conveying the real property comprising such Property in such State to Buyer,
      in
      each case subject to (collectively the &#8220;Permitted Exceptions&#8221;): (i) all
      Impositions, whether past due or delinquent, and (ii) all covenants, conditions,
      restrictions, rights of way, easements and other matters of record or which
      would be disclosed by an accurate survey or physical inspection of such
      Property; provided, however, that with respect to each Land Lease Facility,
      the
      term &#8220;Deed&#8221; shall mean an assignment and assumption of the applicable
      Pennsylvania Land Lease pursuant to a written instrument in form and substance
      substantially similar to the instrument pursuant to which the applicable Seller
      took title to the leasehold estate therein, in each case subject to the
      Permitted Exceptions;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>6.2.2</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Bill
      of Sale</u></strong>.&#160;&#160;A duly executed and acknowledged quit claim
      bill of sale conveying any right, title and interest of each applicable Seller
      in and to any tangible personal property located on or within each Property
      to
      Buyer, without warranty except as expressly set forth therein, in the form
      of
      attached <strong><u>Exhibit &#8220;D&#8221;</u></strong> (the &#8220;Bill of Sale&#8221;);</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>6.2.3</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Summerville
      Master Lease Amendment and Master Lease
      Terminations</u></strong>.&#160;&#160;The Summerville Master Lease Amendment
      duly executed by the applicable Lessor thereunder and each Master Lease
      Termination duly executed by the applicable Lessor thereunder;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>6.2.4</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Memorandum
      of Termination</u></strong><strong>.&#160;&#160;</strong>As required, each
      Memorandum of Termination duly executed and acknowledged by the applicable
      Lessor;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>6.2.5</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Seller&#8217;s
      Certificate</u></strong><strong>.</strong>&#160;&#160;If any express
      representation or warranty of any Seller set forth in Section 8 hereof or by
      HCP
      in the Addendum hereto needs to be modified due to changes since the Effective
      Date, a certificate of such Seller, dated as of the Closing Date and executed
      on
      behalf of such Seller by a duly authorized representative thereof, identifying
      any such representation or warranty which is not, or no longer is, true and
      correct and explaining the state of facts giving rise to the
      change.&#160;&#160;In no event shall any Seller have any Liability to Buyer for,
      or be deemed to be in default hereunder by reason of any breach of a
      representation or warranty set forth in Section 8 hereof or by HCP as set forth
      in the Addendum attached hereto which results from any change that (i) occurs
      between the Effective Date and the Closing Date, and (ii) is either expressly
      permitted under the terms of this Agreement or beyond the reasonable control
      of
      such Seller to prevent.&#160;&#160;The occurrence of a change in a
      representation or warranty which is permitted hereunder or is beyond the
      reasonable control of any Seller to prevent shall, if materially adverse to
      Buyer, constitute the non-fulfillment of the conditions set forth in Section
      5.1.1 hereof.&#160;&#160;If, despite changes or other matters described in such
      certificate, the Closing occurs, any applicable Seller&#8217;s representations and
      warranties set forth in this Agreement or the</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>13</strong></font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Addendum
      hereto shall be deemed to have been modified by all statements made in any
      certificate of such Seller delivered pursuant to this Section
      6.2.4;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>6.2.6</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Evidence
      of Authority</u></strong>.&#160;&#160;Such certificates or documents as may be
      reasonably required by Escrow Holder in order to cause any Title Policy
      requested by Buyer as provided in Section 6.4 below to be issued and the Close
      of Escrow to occur; provided, however, that in no event shall any Seller be
      required to execute and deliver a so-called owner&#8217;s or ALTA affidavit or
      indemnity or a mechanics&#8217; lien indemnity with respect to any Property, except in
      form and substance acceptable to such Seller in its sole, but reasonable
      discretion, and in any event any such affidavit shall be limited to (a) the
      actual knowledge of such Seller (without investigation or the duty to
      investigate) and (b) the direct actions of Seller;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>6.2.7</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Closing
      Statement</u></strong>.&#160;&#160;A duly executed and acknowledged counterpart
      of a joint buyer/seller estimated closing statement to be prepared by Escrow
      Holder and delivered to Sellers and Buyer (the &#8220;Closing Statement&#8221;);
      and</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>6.2.8</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Additional
      Items</u></strong>.&#160;&#160;Any additional funds and/or instruments, signed
      and properly acknowledged by Sellers, if appropriate, as may be necessary to
      comply with Sellers&#8217; obligations under this Agreement.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>6.3</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font><strong><u>Deposits
      by
      Buyer</u></strong>.&#160;&#160;At or before 1:00 p.m., local time in Los
      Angeles, California, on the date of the Close of Escrow, Buyer shall deliver
      or
      cause to be delivered to Escrow Holder:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>6.3.1</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Funds</u></strong>.&#160;&#160;Immediately
      available Closing Funds by wire transfer into Escrow Holder&#8217;s depository bank
      account in an amount which, when added to the Earnest Money Deposit, and all
      interest and other amounts earned thereon which Buyer instructs Escrow Holder
      to
      apply to the Purchase Price hereunder, and the Cash Security Deposit Credit
      shall equal the Purchase Price plus all Closing costs, charges or prorations
      payable by Buyer hereunder, as the same shall be more particularly set forth
      on
      the Closing Statement;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>6.3.2</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Release
      of Claims</u></strong><strong>:</strong>&#160;&#160;A Release of Claims duly
      executed by Buyer and each Lessee in the form attached hereto as
<strong><u>Exhibit &#8220;F&#8221;</u></strong> (the &#8220;Release of Claims&#8221;);</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>6.3.3</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Summerville
      Master Lease Amendment and Master Lease
      Terminations</u></strong><strong>:</strong>&#160;&#160;The Summerville Master
      Lease Amendment, duly executed by the applicable Lessee thereunder, Emeritus,
      and Summerville, as Guarantor, and each Master Lease Termination, duly executed
      by the applicable Lessee thereunder.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>6.3.4</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Memorandum
      of Termination</u></strong><strong>.&#160;&#160;</strong>As required, each
      Memorandum of Termination duly executed and acknowledged by the applicable
      Lessee;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>6.3.5</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>New
      Emeritus Guaranty(ies)</u></strong><strong>.&#160;&#160;</strong>Each New
      Emeritus Guaranty, duly executed by Emeritus.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>6.3.6</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Buyer&#8217;s
      Certificate</u></strong><strong>.</strong>&#160;&#160;If any representation or
      warranty of Buyer set forth in Section 8 hereof or the Addendum hereto needs
      to
      be modified due to changes since the Effective Date, a certificate of Buyer
      addressed to Sellers, dated as of the Closing Date and</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>14</strong></font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">executed
      on behalf of Buyer by a duly authorized representative thereof, identifying
      any
      such representation or warranty which is not, or no longer is, true and correct
      and explaining the state of facts giving rise to the change.&#160;&#160;In no
      event shall Buyer have any Liability to Sellers for, or be deemed to be in
      default hereunder by reason of any breach of a representation or warranty set
      forth in Section 8 hereof or the Addendum hereto which results from any change
      that (i) occurs between the Effective Date and the Closing Date and (ii) is
      either expressly permitted under the terms of this Agreement or is beyond the
      reasonable control of Buyer to prevent.&#160;&#160;The occurrence of a change in
      a representation or warranty which is permitted hereunder or is beyond the
      reasonable control of Buyer to prevent shall, if materially adverse to Sellers,
      or any of them, constitute the non-fulfillment of the conditions set forth
      in
      Section 5.4.5 hereof.&#160;&#160;If, despite changes or other matters described
      in such certificate, the Closing occurs, Buyer&#8217;s representations and warranties
      set forth in this Agreement shall be deemed to have been modified by all
      statements made in such certificate;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>6.3.7</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Evidence
      of Authority</u></strong>.&#160;&#160;Such certificates or documents as may be
      reasonably required by Escrow Holder in order to cause each Title Policy to
      be
      issued and the Close of Escrow to occur;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>6.3.8</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Closing
      Statement</u></strong>.&#160;&#160;A duly executed and acknowledged counterpart
      of the Closing Statement; and</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>6.3.9</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Additional
      Items</u></strong>.&#160;&#160;Any additional Funds and/or instruments, signed
      and properly acknowledged by Buyer, if appropriate, as may be necessary to
      comply with Buyer&#8217;s obligations under this Agreement.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>6.4</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font><strong><u>Title
      Policies</u></strong>.&#160;&#160;At the Close of Escrow, but not as a condition
      thereto, Buyer shall be entitled to request and obtain from Title Company if
      so
      requested by Buyer, with a copy to be delivered to each applicable Seller,
      a
      policy of title insurance with respect to each Property, insuring good and
      indefeasible title to such Property vested in Buyer as of the Closing Date
      in
      the amount of the applicable Allocated Purchase Price, subject to such matters
      of record or apparent as Buyer and Title Company may agree (each, a &#8220;Title
      Policy&#8221;) and including such endorsements thereto as Buyer may request and Title
      Company agrees to issue (the &#8220;Title Endorsements&#8221;).&#160;&#160;The cost of each
      Title Policy and all Title Endorsements thereto shall be borne by the parties
      as
      provided in Section 6.6 below.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>6.5</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font><strong><u>Prorations</u></strong>.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>6.5.1</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Impositions
      and Other Expenses</u></strong>.&#160;&#160;Buyer and Sellers acknowledge and
      agree that the each Master Lease is absolutely net to the applicable Lessor,
      and
      that each applicable Lessee is solely responsible for any and all Impositions,
      Land Lease Rent, insurance premiums, utility charges and other expenses incurred
      in connection with the operation, maintenance and use of the respective
      Property.&#160;&#160;Accordingly, Buyer and/or the applicable Lessee shall be
      solely responsible for all such amounts whether accruing prior to or after
      the
      Closing and there shall be no prorations on account thereof between Buyer and
      Sellers hereunder.&#160;&#160;Any adjustments or prorations of such amounts
      between Buyer and any Lessee shall be solely between such parties and neither
      Sellers nor Escrow Holder shall be concerned therewith.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>15</strong></font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div><br>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>6.5.2</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Rents</u></strong>.&#160;&#160;Notwithstanding
      anything to the contrary herein, all Rents and Charges shall belong to and
      be
      paid over to the applicable Lessor by the applicable Lessee on the Closing
      Date.
      Minimum Rent shall be prorated based upon the actual number of days in the
      month
      in which the Closing occurs.&#160;&#160;For purposes of prorating any Additional
      Rent payable under any Master Lease with respect to any applicable Property,
      the
      following shall apply:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 144pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(a)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">To
      the
      extent Additional Rent payable for the then-current Lease Year for any Property
      is calculated and determined on the basis of a percentage of Gross Revenues
      in
      excess of the applicable Base Gross Revenues, such Additional Rent with respect
      to such Property shall be equal to the applicable percentage of Gross Revenues
      for such Property for such Lease Year in excess of the applicable Closing
      Breakpoint.&#160;&#160;For purposes of the foregoing, the &#8220;Closing Breakpoint&#8221;
shall mean the applicable Base Gross Revenues multiplied by a fraction the
      numerator of which is the number of days in the current Lease Year for such
      applicable Property through, but not including the Closing Date, and that the
      denominator of which is three hundred sixty-five (365).</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 144pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(b)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">To
      the
      extent Additional Rent payable for the then-current Lease Year for any Property
      is calculated and determined on the basis of an increase in the Cost of Living
      Index, such Additional Rent shall be determined and paid in accordance with
      the
      applicable provisions of the applicable Master Lease for the number of days
      in
      such Lease Year through, but not including, the Closing Date.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 144pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(c)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">In
      the
      event that the amount of Additional Rent payable under such Lease Year is
      subject to either a floor or a ceiling, the amount of such floor or ceiling,
      as
      the case may be, shall also be prorated based upon a three hundred sixty-five
      (365) day year.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 144pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(d)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Buyer
      and
      Sellers shall cooperate to estimate the proration amount for Additional Rent
      as
      of the Closing in good faith, and shall submit such amount to Escrow Holder
      at
      least one (1) business day prior to the Close of Escrow.&#160;&#160;In
      determining such proration amount, Buyer shall be credited with any payments
      on
      account of Additional Rent previously paid to the applicable Lessor for the
      applicable current Lease Year.&#160;&#160;Within thirty (30) days after the
      Closing Date, Buyer shall cause the applicable Lessee to make a final
      calculation of Additional Rent up to the Closing for each applicable Property,
      and deliver to Sellers an Officer&#8217;s Certificate (as defined in the applicable
      Master Lease) setting forth the calculation thereof.&#160;&#160;Buyer shall
      promptly pay or cause the applicable Lessee to pay to Sellers, or if directed
      by
      Sellers, to the applicable Lessor, any deficiency in the payment of Additional
      Rent for each applicable Property, and Sellers shall promptly pay to Buyer
      or,
      if directed by Buyer, to the applicable Lessee, the amount of any overpayment
      of
      Additional Rent for any applicable Property.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 144pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(e)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">The
      obligation to prorate and pay Additional Rent for each applicable Property
      shall
      survive the Closing.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>6.6</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font><strong><u>Closing
      and Transaction
      Costs</u></strong>.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>6.6.1</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Sellers
      and Buyer shall execute such returns, questionnaires and other documents as
      shall be required with regard to all applicable Transaction Taxes imposed
      by</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>16</strong></font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">applicable
      federal, state or local Law.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>6.6.2</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Upon
      the
      Closing, Buyer shall be responsible for:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 144pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(a)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">any
      Transaction Taxes in excess of the portion thereof that is the responsibility
      of
      Sellers as provided in Section 6.6.3 below;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 144pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(b)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">all
      expenses of or related to the issuance of any Title Polices (including the
      costs
      of any survey required by Buyer and/or the Title Company), any Title
      Endorsements and chain of title reports, and all fees and charges of Escrow
      Holder hereunder in excess of the applicable portion thereof that is the
      responsibility of Sellers as provided in Section 6.6.3 below;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 144pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(c)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">the
      charges for or in connection with the recording and/or filing of any instrument
      or document provided herein or contemplated by this Agreement, the Related
      Purchase Agreements or any agreement or document described or referred to herein
      or therein;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 144pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(d)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">all
      reports or studies obtained by or at the direction of Buyer, including all
      appraisal, environmental, engineering or other third party reports and the
      fees
      or costs incurred in connection therewith;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 144pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(e)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Buyer&#8217;s
      legal, accounting and other professional fees and expenses incurred in
      connection with the transactions contemplated hereby, the Related Purchase
      Agreements and the Exhibits hereto and thereto; and</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 144pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(f)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">all
      other
      costs and expenses incurred in connection with the transactions contemplated
      hereunder, under the Related Purchase Agreements and the Exhibits hereto and
      thereto that are not the responsibility of Sellers as provided in Section 6.6.3
      below.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>6.6.3</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Upon
      the
      Closing, Seller shall be responsible for:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 144pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(a)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Twenty-Seven
      Percent (27%) of the sum of (i) any Transaction Taxes, and (ii) the cost of
      the
      Title Policies and Title Endorsements, not to exceed an aggregate cost to
      Sellers of One Million Dollars and 00/100ths ($1,000,000.00); and</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 144pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(b)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Sellers&#8217;
      legal, accounting and other professional fees and expenses incurred in
      connection with the transactions contemplated hereby and the Exhibits
      hereto.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>6.6.4</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Any
      personal property conveyed to Buyer as part of any Property is included in
      this
      sale as part of the Allocated Purchase Price and without additional charge
      therefore.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>6.6.5</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">If
      the
      Closing does not occur for any reason other than Sellers&#8217; default hereunder,
      Buyer shall pay all title and Escrow cancellation charges and
      expenses.&#160;&#160;If the Closing does not occur by reason of Sellers&#8217; default
      hereunder, then in such event Sellers shall be</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>17</strong></font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">responsible
      for any title and Escrow cancellation charges and expenses.&#160;&#160;The
      provisions of this Section 6.6.5 shall survive any early termination of this
      Agreement prior to Closing.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>6.7</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font><strong><u>Completion
      and Distribution
      of Documents</u></strong>.&#160;&#160;Escrow Holder shall also undertake the
      following at or promptly after the Close of Escrow:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>6.7.1</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">If
      necessary, Escrow Holder is authorized and instructed to insert the Closing
      Date
      as the date of any documents conveying or terminating interests herein or to
      become operative as of the Closing Date.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>6.7.2</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Cause
      each Deed, any Memorandum of Termination, and any other recordable instrument
      which the parties so direct to be recorded in the appropriate land records
      office where the respective Property is located, and if necessary, the parties
      will re-execute post-Closing any Memorandum of Termination to allow it to be
      recorded, such obligation to survive the Closing hereunder.&#160;&#160;If
      permitted by applicable law, Escrow Holder is hereby instructed not to affix
      the
      amount of any Transaction Tax on the face of any Deed but to pay on the basis
      of
      a separate affidavit signed by either the applicable Seller or Buyer, as
      applicable, and not made a part of the public record; and</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>6.7.3</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Cause
      each non-recorded document to be delivered to the party acquiring rights
      thereunder, or for whose benefit such document was obtained.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>6.8</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font><strong><u>Seller&#8217;s
      Election of 1031
      Exchange</u></strong>.&#160;&#160;Sellers, or any of them, may elect to sell one
      or more of the Properties to Buyer in the form of a tax-deferred exchange
      pursuant to Section 1031 of the Internal Revenue Code of 1986, as amended (&#8220;1031
      Exchange&#8221;); provided, however, such 1031 Exchange shall not be a condition to
      any Seller&#8217;s obligation to close the transactions contemplated by this
      Agreement; provided further, however, that Sellers shall be entitled, in their
      sole discretion, to extend the Closing Date (including the Outside Closing
      Date)
      for up to ten (10) days by written notice delivered to Buyer and Escrow Holder
      no less than <font style="DISPLAY: inline; FONT-SIZE: 10pt;">three (3)</font>
      days prior to the scheduled Closing Date in order to accommodate such a 1031
      Exchange.&#160;&#160;In the event that Sellers, or any of them, shall so elect a
      1031 Exchange, Sellers shall give written notice to Buyer and Escrow Holder
      of
      such election.&#160;&#160;Buyer shall fully cooperate with any such 1031
      Exchange, including with respect to the following as may be requested or
      approved by Sellers, or any of them:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>6.8.1</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">executing
      and delivering amendments to this Agreement and/or amendments and restatements
      of this Agreement so that the transactions contemplated hereby are incorporated
      into one or more cross-contingent agreements;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>6.8.2</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">executing
      and delivering one or more assignments of this Agreement or any of any of
      agreements described in Section 6.8.2 above from Buyer to an Affiliate of Buyer
      or by any Seller to any Affiliate of Seller or to a qualified exchange
      accommodator of Seller or such Affiliate; and</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>6.8.3</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">such
      other additional documents;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">provided,
      however, that Buyer shall not be required to incur any additional Liabilities
      or
      financial obligations as a consequence of any of the foregoing exchange
      transactions.&#160;&#160;Sellers</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>18</strong></font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">hereby
      indemnify and hold Buyer harmless from any Liabilities to which Buyer may be
      exposed due to any participation by Buyer in such a 1031 Exchange
      transaction.&#160;&#160;The provisions of this Section 6.8 shall survive the
      Closing.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>7.</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>TERMINATION</u></strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>7.1</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font><strong><u>Early
      Termination for
      Failure of Conditions</u></strong><strong>.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>7.1.1</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Termination
      by Buyer</u></strong>. If Buyer is entitled to and in fact disapproves any of
      the conditions set forth in Sections 5.1.1 through 5.1.5, inclusive, then Escrow
      and this Agreement shall automatically terminate upon receipt by Sellers and
      Escrow Holder of Buyer&#8217;s written notice of disapproval of such condition within
      the time and in the manner provided in Section 5.2; provided, however, that
      if
      there is a failure of (a) any of the conditions set forth in Section 5.1.1
      or
      5.1.2 or (b) any of the conditions set forth in Section 5.1.3, 5.1.4 or 5.1.5
      that results from a breach or default by Sellers or any Affiliate of Seller
      of
      their respective obligations under this Agreement or under any Related Purchase
      Agreement, then in any such event in lieu of terminating this Agreement and
      Escrow pursuant to this Section 7.1, Buyer shall be entitled to exercise its
      rights pursuant to Section 7.2 below.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>7.1.2</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Termination
      by Sellers</u></strong>.&#160;&#160;If Sellers disapprove any of the conditions
      set forth in Section 5.4 above, then Escrow and this Agreement shall
      automatically terminate upon receipt by Buyer and Escrow Holder of Sellers&#8217;
written notice of disapproval thereof at any time prior to the Closing;
      provided, however, that if there is a failure of (a) any of the conditions
      set
      forth in Sections 5.4.5 or 5.4.6 or (b) any of the conditions set forth in
      Sections 5.4.2, 5.4.3, or 5.4.4 that results from a breach or a default by
      Buyer
      or any Affiliate of Buyer of its respective obligations under this Agreement
      or
      under any Related Purchase, then in any such event in lieu of terminating this
      Agreement and Escrow pursuant to this Section 7.1.2, Sellers shall be entitled
      to exercise their remedies pursuant to Section 7.2 below.&#160;&#160;In
      addition, notwithstanding the foregoing, the parties acknowledge and agree
      that
      the occurrence of any event of the type described in Section 5.4.1(a) or in
      the
      second sentence of Section 5.4.4 above that results in the failure of the
      conditions set forth therein shall also constitute and be deemed a default
      by
      Buyer under this Agreement entitling Sellers to exercise their remedies pursuant
      to Section 7.2 below.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>7.1.3</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Rights
      and Obligations Upon Termination for Failure of
      Conditions</u></strong>.&#160;&#160;If Escrow and this Agreement are terminated
      in the manner and within the applicable time period(s) provided pursuant to
      either Section 7.1.1 or Section 7.1.2 above, (a) all instruments in Escrow
      shall
      be returned to the party depositing the same, (b) Buyer shall return all items
      previously delivered by Sellers to Buyer, (c) the provisions of Section 6.6.5
      above shall apply, (d) subject to Section 7.2 below, the Earnest Money Deposit,
      and all interest and other amounts earned thereon, shall be promptly delivered
      to Buyer and (e) neither party shall have any further rights, obligations or
      Liabilities whatsoever to the other party concerning the purchase and sale
      of
      the Property pursuant to this Agreement, except for those Liabilities which
      are
      expressly stated in this Agreement to survive termination.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>7.2</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Termination
      by Reason of Default</u></strong>.&#160;&#160;If the Closing fails to occur when
      and as provided in Section 6 above by reason of a breach or default (or deemed
      default as provided in the last sentence of Section 7.1.2 above) of either
      party
      of any of its duties, obligations,</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>19</strong></font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">representations
      or warranties under this Agreement, then the non-defaulting party may elect,
      by
      written notice to the defaulting party and to Escrow Holder, to terminate Escrow
      and this Agreement, and the Earnest Money Deposit, and all interest thereon,
      shall be delivered to the non-defaulting party promptly after the Effective
      Termination Date.&#160;&#160;Such termination shall be effective five (5) days
      after delivery of such notice (the &#8220;Effective Termination Date&#8221;);
<u>provided</u>, that (i)&#160;the non-defaulting party has performed or is in a
      position to perform all obligations on its part to be performed as of the
      Effective Termination Date other than those obligations which the non-defaulting
      party is prevented from having performed by reason of the defaulting party&#8217;s
      breach or default; and (ii)&#160;the defaulting party has not cured the default
      and the non-defaulting party has not waived such default by the Effective
      Termination Date.&#160;&#160;Except as otherwise provided below in this Section
      7.2 and Section 6.6.5 above, Escrow Holder and the parties shall, upon such
      termination, return all of the other party&#8217;s funds and documents then held by
      them to the party depositing or delivering the same.&#160;&#160;Thereafter, each
      of the parties shall be discharged and released from all obligations and
      Liabilities except as otherwise provided in this Section 7.2 and Section 6.6.5
      above and except for those obligations and Liabilities which are expressly
      intended to survive the termination of this Agreement, including those
      Liabilities set forth in Section 12.2 below.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>7.2.1</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Seller&#8217;s
      Damages</u></strong>.&#160;&#160;If the Closing fails to occur by reason of a
      breach or default of this Agreement by Buyer, then Sellers may terminate this
      Agreement as of the Effective Termination Date as provided in Section 7.2 above,
      in which case Buyer shall be Liable for the cancellation and other charges
      and
      expenses as provided for in Section 6.6.5&#160;&#160;and the Earnest Money
      Deposit (plus all accrued interest and any other amounts earned thereon) shall
      be delivered to Sellers as liquidated damages and not as a
      penalty.&#160;&#160;BUYER RECOGNIZES THAT IF THE CLOSING FAILS TO OCCUR BY
      REASON OF A BREACH OR DEFAULT OF THIS AGREEMENT BY BUYER, SELLERS SHOULD BE
      ENTITLED TO COMPENSATION FOR THE DETRIMENT CAUSED THEREBY.&#160;&#160;HOWEVER,
      BOTH PARTIES AGREE THAT IT IS EXTREMELY DIFFICULT AND IMPRACTICAL TO ASCERTAIN
      THE EXTENT OF THE DETRIMENT AND TO AVOID SUCH DIFFICULTIES, THE PARTIES AGREE
      THAT, IF BUYER FAILS TO PURCHASE THE PROPERTIES AND SUCH FAILURE CONSTITUTES
      A
      BREACH OF BUYER&#8217;S OBLIGATIONS HEREUNDER, SELLERS SHALL BE ENTITLED TO THE
      EARNEST MONEY DEPOSIT AND ANY ACCRUED INTEREST AND ANY OTHER AMOUNTS EARNED
      THEREON AS LIQUIDATED DAMAGES.&#160;&#160;NOTWITHSTANDING ANYTHING HEREIN TO THE
      CONTRARY, AND EXCEPT AS PROVIDED IN SECTION 12.2 BELOW, THE PARTIES AGREE THAT
      SUCH AMOUNT STATED AS LIQUIDATED DAMAGES SHALL BE IN LIEU OF ANY OTHER RELIEF
      TO
      WHICH SELLERS MIGHT OTHERWISE BE ENTITLED BY VIRTUE OF BUYER&#8217;S FAILURE TO
      PURCHASE THE PROPERTIES IN THE EVENT SUCH FAILURE CONSTITUTES A BREACH OF
      BUYER&#8217;S OBLIGATIONS HEREUNDER.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font>BUYER&#8217;S
      INITIALS:_ /s/ EM
      _</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>20</strong></font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">SELLERS
      INITIALS:_ /s/
      EJH____&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;_/s/
      EJH&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;/s/EJH_</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 144pt;"></font>_/s/
      EJH&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;_/s/
      EJH
      _&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;/s/
      EJH _</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>7.2.2</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Buyer&#8217;s
      Remedies</u></strong><strong>.</strong> If the Closing fails to occur by reason
      of a breach or default of this Agreement by Sellers, then Buyer may either
      (a)
      terminate this Agreement as of the Effective Termination Date as provided in
      Section 7.2 above, in which case the Earnest Money Deposit, plus all accrued
      interest and any other amounts earned thereon, shall be promptly delivered
      to
      Buyer, and Sellers shall be liable for the cancellation and other charges and
      expenses provided for in Section 6.6.5, or (b) enforce specific performance
      of
      the obligations of Seller here&#173;under; provided, however, that any action by
      Buyer to seek such specific performance must be commenced within thirty (30)
      calendar days of the occurrence of the alleged default by Sellers; provided
      further, however, that, except as provided in Section 6.6.5, in no event
      whatsoever shall Sellers ever have any Liability (whether in law or equity)
      for
      damages as a result of a default by Sellers under this Agreement.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>7.3</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Relationship
      to Master Leases</u></strong><strong>.&#160;&#160;</strong>Notwithstanding
      anything to the contrary in this Agreement, no termination of this Agreement
      and
      Escrow by Sellers or Buyer regardless of the reason therefor shall affect the
      rights or obligations of any applicable Lessor or Lessee under any applicable
      Master Lease, each which Master Lease shall remain in full force and effect
      (and
      unmodified by the applicable Summerville Master Lease Amendment or any Master
      Lease Termination, as applicable), following any such termination of this
      Agreement prior to the Closing.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>8.</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>REPRESENTATIONS
      AND WARRANTIES</u></strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>8.1</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font><strong><u>In
      General</u></strong>.&#160;&#160;In addition to any express agreements of either
      party contained herein, the following constitute representations and warranties
      by each Seller to Buyer, and by Buyer to each Seller, which shall be true and
      correct as of the date hereof, and the truth and accuracy of such
      representations and warranties as of the Close of Escrow by each party shall
      also constitute a condition to the Close of Escrow for the benefit of the party
      to whom such representations and warranties were made.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>8.2</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font><strong><u>By
      Each
      Party</u></strong>.&#160;&#160;Each Seller represents and warrants to Buyer, and
      Buyer hereby represents and warrants to each Seller, as follows:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>8.2.1</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Authority</u></strong>.&#160;&#160;Such
      party has full power and authority to enter into and comply with the terms
      of
      this Agreement, and the individuals executing this Agreement on behalf of such
      party have actual right and authority to bind that party to the terms of this
      Agreement.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>8.2.2</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Binding
      Effect</u></strong>.&#160;&#160;No action or consent which has not been obtained
      is necessary to make this Agreement, and this Agreement and all documents to
      be
      executed hereunder are or will be when executed the valid and legally binding
      obligations of such party, enforceable in accordance with their respective
      terms, except as such enforceability may be limited by creditors&#8217; rights laws
      and general principles of equity.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>21</strong></font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div><br>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>8.2.3</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>No
      Conflict</u></strong>.&#160;&#160;The execution and delivery of this Agreement
      and all other documents to be executed by such party hereunder, compliance
      with
      the provisions thereof and hereof and the consummation of the transactions
      contemplated hereunder and thereunder will not result in (a) a breach or
      violation of (i) any Laws applicable to such party now in effect, (ii) the
      Organizational Documents of such party, (iii) any judgment, order or decree
      of
      any governmental authority with jurisdiction binding on such party or (iv)
      subject to the Permitted Exceptions, any other material agreement or instrument
      to which such party is a party or by which it is bound.&#160;&#160;&#160;Buyer
      shall be solely responsible for obtaining any consents, approvals or waivers
      required under any Permitted Exceptions with respect to any Property in
      connection with the transactions contemplated hereby or under the Related
      Purchase Agreements.&#160;&#160;Sellers hereby agree to reasonably cooperate
      with Buyer, without any out-of-pocket cost or expense to Sellers, in seeking
      any
      such required consents, approval or waivers.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>8.2.4</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Patriot
      Act</u></strong><strong>.&#160;&#160;</strong>To the actual knowledge of such
      party, such party and its respective Affiliates are<strong>&#160;</strong>in
      compliance with the requirements of Executive Order No. 13224, 66 Fed. Reg.
      49079 (Sept. 25, 2001) (the &#8220;Order&#8221;) and other similar requirements contained in
      the rules and regulations of the Office of Foreign Assets Control, Department
      of
      Treasury (&#8220;OFAC&#8221;) and in any enabling legislation or other Executive Orders or
      regulations in respect thereof (the Order and such other rules, regulations,
      legislation or orders collecting called the &#8220;Orders&#8221;).&#160;&#160;Neither such
      party nor any of their Affiliates (A) is listed on the Specially Designated
      Nationals and Blocked Person List maintained by OFAC pursuant to the Order
      and/or on any other list of terrorists or terrorist organizations maintained
      pursuant to any of the rules and regulations of OFAC or pursuant to any other
      applicable Orders (such lists are collectively referred to as the &#8220;Lists&#8221;), (B)
      is a Person (as defined in the Order) who has been determined by competent
      authority to be subject to the prohibitions contained in the Orders; or (C)
      to
      the actual knowledge of such party, is owned or controlled by (including without
      limitation by virtue of such person being a director or owning voting shares
      or
      interests), or acts for or on behalf of, any person on the Lists or any other
      person who has been determined by competent authority to be subject to the
      prohibitions contained in the Orders.&#160;&#160;As used herein, the term
&#8220;actual knowledge&#8221; as it relates to each Seller shall mean the actual knowledge
      (without investigation or the duty to conduct investigation) of Paul Gallagher
      and Brian J. Maas and as it relates to Buyer shall mean the actual knowledge
      (without investigation or the duty to conduct investigation) of Eric
      Mendelsohn.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>8.3</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font><strong><u>By
      each Seller
      Only</u></strong>.&#160;&#160;Each Seller represents and warrants to Buyer as
      follows:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>8.3.1</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Authority
      of each Lessor</u></strong>.&#160;&#160;Each applicable Lessor has full power
      and authority to execute and deliver (a) the Summerville Master Lease Amendment
      pursuant to the terms of this Agreement and that when so executed and delivered,
      such Summerville Master Lease Amendment shall constitute the valid and binding
      obligations of such Lessor, enforceable against such Lessor in accordance with
      its respective terms, except as such enforceability may be limited by creditors&#8217;
rights laws and general principles of equity and (b) each Master Lease
      Termination pursuant to the terms of this Agreement and that when so executed
      and delivered, such Master Lease Termination shall constitute the valid and
      binding obligations of the such Lessor, enforceable against such Emeritus Lessor
      in accordance with its respective terms, except as such enforceability may
      be
      limited by creditors&#8217; rights laws and general principles of equity.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>22</strong></font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div><br>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>8.3.2</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>No
      Tax Withholding</u></strong>.&#160;&#160;In accordance with Section&#160;1445 of
      the Internal Revenue Code and the applicable provisions of the California
      Revenue and Taxation Code or other similar laws, (a) such Seller is not now,
      and
      at Closing will not be, a &#8220;foreign person,&#8221; and (b) Buyer need not withhold tax
      at the Closing as a result of the transactions contemplated
      hereby.&#160;&#160;Such Seller shall deliver a separate nonforeign/residency
      affidavit, executed by such Seller, if reasonably required to do so by Escrow
      Holder.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>8.3.3</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Litigation,
      Etc.</u></strong>&#160;&#160;To the actual knowledge of such Seller (without
      investigation and without the duty to conduct any investigation), there are
      no
      actions, proceedings or investigations pending or threatened against or
      affecting such Seller seeking to enjoin, challenge or collect damages in
      connection with the transactions contemplated by this Agreement or which would
      reasonably be expected to materially and adversely affect the ability of such
      Seller to carry out the transactions contemplated by this Agreement or which
      in
      any way challenge or affect such Seller&#8217;s ownership (leasehold or fee, as
      applicable) of the applicable Properties owned by such Seller, or any of
      them.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>8.4</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font><strong><u>By
      Buyer
      Only</u></strong><strong>.</strong>&#160;&#160;Buyer represents and warrants to
      each Seller as follows:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>8.4.1</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Authority
      of Lessees and Emeritus</u></strong>.&#160;&#160;The (a) Summerville Lessee,
      Emeritus&#160;&#160;and Summerville have full power and authority to execute and
      deliver the documents and instruments required to be delivered by them pursuant
      to the terms of this Agreement (including the Summerville Master Lease Amendment
      and each New Emeritus Guaranty) and that when so executed and delivered, such
      instruments shall constitute the valid and binding obligations of the
      Summerville Lessee, Emeritus and Summerville, enforceable against them in
      accordance with their respective terms, except as such enforceability may be
      limited by creditors&#8217; rights laws and general principles of equity and (b)
      Emeritus Lessee has full power and authority to execute and deliver the
      documents and instruments required to be delivered by them pursuant to the
      terms
      of this Agreement (including each Master Lease Termination) and that when so
      executed and delivered, such instruments shall constitute the valid and binding
      obligations of the Emeritus Lessee, enforceable against it in accordance with
      their respective terms, except as such enforceability may be limited by
      creditors&#8217; rights laws and general principles of equity.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>8.4.2</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Litigation,
      Etc.</u></strong>&#160;&#160;To the actual knowledge of Buyer (without
      investigation and without the duty to conduct any investigation), there are
      no
      actions, proceedings or investigations pending or to the knowledge of Buyer
      threatened against or affecting Buyer, Summerville or any
      Lessee&#160;&#160;seeking to enjoin, challenge or collect damages in connection
      with the transactions contemplated by this Agreement or which would reasonably
      be expected to materially and adversely affect the ability of Buyer,
      Summerville, or any Lessee to carry out the transactions contemplated
      herein.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>9.</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>CERTAIN
      EVENTS PRIOR TO CLOSING</u></strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>9.1</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font><strong><u>Loss</u></strong>.&#160;&#160;In
      the
      event of loss (including a loss due to a Condemnation) or damage to a Property
      or any portion thereof and which occurs prior to the Closing, this Agreement
      shall remain in full force and effect, Buyer shall nonetheless proceed to
      purchase the Properties and</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>23</strong></font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">consummate
      this Agreement in accordance with the terms hereof and all insurance proceeds
      or
      Condemnation awards payable by reason thereof shall belong to
      Buyer.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>9.2</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font><strong><u>Prompt
      Notices</u></strong><strong>.</strong>&#160;&#160;Sellers shall give prompt
      notice to Buyer, and Buyer shall give prompt notice to Sellers, of (i)&#160;the
      occurrence, or failure to occur, of any event which occurrence or failure would
      be likely to cause (A)&#160;any representation or warranty of such party
      contained in this Agreement or the Addendum hereto to be untrue or inaccurate
      in
      any material respect or (B)&#160;any covenant, condition or agreement of such
      party contained in this Agreement or the Addendum hereto not to be complied
      with
      or satisfied in all material respects and (ii)&#160;any failure of Sellers, or
      any of them, or Buyer, as the case may be, to comply with or satisfy any
      covenant, condition or agreement to be complied with or satisfied under this
      Agreement.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>9.3</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>No
      Agreements; Release of
      Mortgages</u></strong><strong>.</strong>&#160;&#160;Except for this Agreement
      and matters expressly contemplated hereunder or under the Related Agreements,
      from and after the Effective Date, no Seller shall enter into any new contracts
      or other agreements, either written or oral, with respect to any of the
      Properties that shall survive the Closing, or become a Liability of
      Buyer.&#160;&#160;Sellers shall cause any mortgages, deeds of trust or other
      security interests of record, caused,&#160;&#160;created or assumed in writing
      by Sellers, to be satisfied in full on or before the Closing.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>9.4</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Satisfaction
      of Conditions</u></strong><strong>.</strong>&#160;&#160;From and after the
      Effective Date, each party covenants and agrees with the other to use good
      faith, commercially reasonable efforts to satisfy or cause to be satisfied
      all
      conditions precedent to such party&#8217;s obligations hereunder which are in such
      party&#8217;s control or over which such party exercises control.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>10.</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>POST-CLOSING
      MATTERS</u></strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>10.1</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Confidentiality
      and Public Disclosure</u></strong>.&#160;&#160;Each party shall hold in strict
      confidence all information received from the other party concerning this
      transaction and shall not release any such information to third parties (other
      than attorneys, accountants or other professional consultants, or lenders of
      the
      parties) without the prior written consent of the other party unless otherwise
      required by Law, which approval shall not be unreasonably withheld; provided
      that Buyer shall entitled to disclose information concerning this transaction
      in
      connection with a secondary stock offering and as required by any applicable
      securities Law.&#160;&#160;Except as provided above, any and all releases of
      information to the public relating to the sale of the Properties and the
      transactions contemplated hereby and under the Related Agreements by any party
      shall be subject to the review and approval by the other party, which approval
      shall not be unreasonably withheld.&#160;&#160;Each party will undertake to
      consult with the other prior to responding to any inquiries made by any third
      party respecting the transactions contemplated by this Agreement.&#160;&#160;The
      provisions of this Section 10.1 shall survive the execution and delivery of
      this
      Agreement and the occurrence of the Closing.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>10.2</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Indemnification
      by Buyer</u></strong>.&#160;&#160;In addition to the other indemnities of Buyer
      contained herein or in any of the other Transaction Documents, Buyer shall
      protect, indemnify, save harmless and defend Sellers and each of their
      respective partners, predecessors, successors and assigns, and their respective
      past, present and future officers, directors, employees, agents,
      representatives, attorneys and all Persons acting by, through, under or in
      concert with any of the foregoing, from and against all Liabilities, based
      upon,
      relating or arising out of the Properties,</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>24</strong></font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">or
      any of
      them, whether accruing before or after the Closing Date, including any
      Liabilities relating to the presence or existence of Hazardous Substances of
      any
      kind, on, under or about the Properties, or any of them, or on adjoining or
      neighboring property, or arising from any use of the Properties, or any of
      them;
      provided, however, the foregoing indemnity shall not extend to any Liabilities
      which are solely and proximately caused by the gross negligence or willful
      misconduct of Sellers, or any of them.&#160;&#160;Payment shall not be a
      condition precedent to enforcement of the foregoing
      indemnification.&#160;&#160;The provisions of this Section 10.2 shall
      specifically survive the execution and delivery of this Agreement and the
      occurrence of the Closing.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>10.3</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>New
      Emeritus Guaranty(ies)</u></strong>.&#160;&#160;To the extent the closing of any
      transactions that give rise to or otherwise create any new Summerville
      Obligations has not occurred as of the Closing hereunder, Emeritus hereby
      covenants and agrees to execute and deliver promptly any New Emeritus
      Guaranty(ies) as required by Sellers or any of its Affiliates upon the closing
      of any such transactions.&#160;&#160;The provisions of this Section 10.2 shall
      survive the execution and delivery of this Agreement and the occurrence of
      the
      Closing.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>11.</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>BROKERS</u></strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Each
      of
      Sellers, on the one hand, and Buyer, on the other hand, agrees to indemnify,
      defend, protect and hold the other party(ies) and the Properties harmless
      against any Liabilities for any broker&#8217;s commission or finder&#8217;s fee for which it
      is responsible or which is asserted as a result of its own act or omission
      in
      connection with this transaction.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>12.</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>MISCELLANEOUS
      PROVISIONS</u></strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>12.1</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Assignment;
      Binding on Successors</u></strong>.&#160;&#160;This Agreement shall be binding
      upon and shall inure to the benefit of Buyer and Sellers and their respective
      representatives, successors and assigns; provided, however, that Buyer shall
      not
      have the right to assign this Agreement or any interest or right under this
      Agreement or under the Escrow or to appoint a nominee to act as Buyer under
      this
      Agreement without obtaining the prior written consent of Sellers, which consent
      may be given or withheld in the sole and absolute discretion of Seller;
      provided, however, that without in any way relieving Buyer of any of its duties,
      covenants or obligations hereunder, upon written notice to Sellers given not
      less than ten (10) business days prior to the scheduled Closing Date, Buyer
      may,
      without the consent of Sellers, either (a) assign its rights and obligations
      hereunder with respect to any Property to one or more Affiliates of Buyer or
      Dan
      Baty, an individual, or (b) appoint one or more Affiliates of Buyer or Dan
      Baty
      as a nominee to take title to any Property or any portion thereof; provided,
      however, that any such (i) assignment shall be pursuant to a written assignment
      and assumption agreement reasonably satisfactory to Sellers and (ii) any such
      Affiliate-assignee or nominee shall join in the execution and delivery of the
      Release of Claims at Closing with Buyer.&#160;&#160;Any attempted assignment in
      violation of this provision shall be null and void.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>12.2</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Attorneys&#8217;
      Fees</u></strong>.&#160;&#160;In any dispute or action between the parties
      arising out of this Agreement or the Escrow, or in connection with the
      Properties, or any of them, the prevailing party shall be entitled to have
      and
      recover from the other party its costs and attorneys&#8217; and paralegals&#8217; fees
      related thereto, whether by final judgment or by out of court
      settlement.&#160;&#160;The</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>25</strong></font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">provisions
      of this Section 12.2 shall survive the Closing or any earlier termination of
      this Agreement.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>12.3</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Notices</u></strong>.
      Any notice, consent, approval, demand or other communication required or
      permitted to be given hereunder (a &#8220;notice&#8221;) must be in writing and may be
      served personally or by U.S. Mail.&#160;&#160;If served by U.S. Mail, it shall
      be addressed as follows:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 72pt">
              <div>&#160;</div>
            </td>
            <td style="WIDTH: 108pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">If
                to Sellers:</font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">c/o
                Health Care Property Investors,
                Inc.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 180pt">
              <div>&#160;</div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">3760
                Kilroy Airport Way, Suite 300</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 180pt">
              <div>&#160;</div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Long
                Beach, California 90806</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 72pt">
              <div>&#160;</div>
            </td>
            <td style="WIDTH: 108pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Attn:</font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Legal
                Department</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 72pt">
              <div>&#160;</div>
            </td>
            <td style="WIDTH: 108pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Fax:</font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(562)
                733-5200</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 72pt">
              <div>&#160;</div>
            </td>
            <td style="WIDTH: 108pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">with
                a copy to:</font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Latham
                &amp; Watkins LLP</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 180pt">
              <div>&#160;</div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">650
                Town Center Drive, Suite 2000</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 180pt">
              <div>&#160;</div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Costa
                Mesa, California 92626-1925</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 72pt">
              <div>&#160;</div>
            </td>
            <td style="WIDTH: 108pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Attn:</font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">David
                C. Meckler, Esq.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 72pt">
              <div>&#160;</div>
            </td>
            <td style="WIDTH: 108pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Fax:</font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(714)
                755-8290</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 72pt">
              <div>&#160;</div>
            </td>
            <td style="WIDTH: 108pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">If
                to Buyer:</font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Emeritus
                Corporation</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 180pt">
              <div>&#160;</div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">3131
                Elliott Avenue, Suite 500</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 180pt">
              <div>&#160;</div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Seattle,
                Washington&#160;&#160;98121</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 72pt">
              <div>&#160;</div>
            </td>
            <td style="WIDTH: 108pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Phone:</font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(206)
                301-4493</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 72pt">
              <div>&#160;</div>
            </td>
            <td style="WIDTH: 108pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Fax:</font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(206)
                301-4500</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 72pt">
              <div>&#160;</div>
            </td>
            <td style="WIDTH: 108pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Attn:</font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Eric
                Mendelsohn</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 72pt">
              <div>&#160;</div>
            </td>
            <td style="WIDTH: 108pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">with
                a copy to:</font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Pircher,
                Nichols &amp; Meeks</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 180pt">
              <div>&#160;</div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">900
                North Michigan Avenue, Suite 1050</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 180pt">
              <div>&#160;</div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Chicago,
                Illinois 60611</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 180pt">
              <div>&#160;</div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Attention:&#160;&#160;Real
                Estate Notices (JDL/MJK)</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 180pt">
              <div>&#160;</div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Phone:&#160;&#160;(312)
                915-3112</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 180pt">
              <div>&#160;</div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Fax:
                (312) 915-3348</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Any
      notice which is personally served shall be effective upon the date of service;
      any notice given by U.S. Mail shall be deemed effectively given, if deposited
      in
      the United States Mail, registered or certified with return receipt requested,
      postage prepaid and addressed as provided above, on the date of receipt, refusal
      or non-delivery indicated on the return receipt.&#160;&#160;In addition, either
      party may send notices by facsimile or by a nationally recognized overnight
      courier service which provides written proof of delivery (such as U.P.S. or
      Federal Express).&#160;&#160;Any notice sent by facsimile shall be effective
      upon confirmation of receipt in legible form, and any notice sent by a
      nationally recognized overnight courier shall be effective on the date of
      delivery to the party at its address specified above as set forth in the
      courier's delivery receipt.&#160;&#160;Any party may, by notice to the other
      from time to time in the manner herein provided, specify a different address
      for
      notice purposes.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>12.4</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Governing
      Law; Jurisdiction</u></strong>.&#160;&#160;THIS AGREEMENT WAS NEGOTIATED IN THE
      STATE OF CALIFORNIA, WHICH STATE THE PARTIES AGREE HAS A SUBSTANTIAL
      RELATIONSHIP TO THE PARTIES AND TO THE UNDERLYING</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>26</strong></font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">TRANSACTION
      EMBODIED HEREBY.&#160;&#160;ACCORDINGLY, EXCEPT WHERE FEDERAL LAW IS APPLICABLE
      AND UNLESS OTHERWISE EXPRESSLY PROVIDED HEREIN OR REQUIRED BY ANY APPLICABLE
      LAW, THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH,
      THE
      LAWS OF THE STATE OF CALIFORNIA (WITHOUT REGARD OF PRINCIPLES OR CONFLICTS
      OF
      LAW).&#160;&#160;EACH OF BUYER AND SELLER HEREBY IRREVOCABLY SUBMIT TO THE
      JURISDICTION OF THE STATE AND FEDERAL COURTS OF THE STATE OF CALIFORNIA AND
      CONSENT TO SERVICE OF PROCESS IN ANY LEGAL PROCEEDING ARISING OUT OF, OR IN
      CONNECTION WITH, THIS AGREEMENT, BY ANY MEANS AUTHORIZED BY CALIFORNIA
      LAW.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>12.5</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Interpretation</u></strong>.&#160;&#160;All
      provisions herein shall be construed in all cases as a whole according to its
      fair meaning, neither strictly for nor against either Buyer or Sellers and
      without regard for the identity of the party initially preparing this
      Agreement.&#160;&#160;Titles and captions are inserted for convenience only and
      shall not define, limit or construe in any way the scope or intent of this
      Agreement.&#160;&#160;References to Sections are to Sections as numbered in this
      Agreement unless expressly stated otherwise.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>12.6</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Gender;
      Joint Obligations</u></strong>.&#160;&#160;As used in this Agreement, the
      masculine, feminine or neuter gender and the singular or plural number shall
      each be deemed to include the others where and when the context so
      dictates.&#160;&#160;If more than one party, trust or other entity is the Buyer
      hereunder, the obligations of all such parties shall be joint and
      several.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>12.7</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>No
      Waiver</u></strong>.&#160;&#160;A waiver by any party of a breach of any of the
      covenants, conditions or agreements to be performed by the other parties shall
      be in writing to be effective and no such written waiver shall be construed
      as a
      waiver of any succeeding breach of the same or other covenants, conditions
      or
      Agreements.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>12.8</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Modifications</u></strong>.&#160;&#160;Any
      alteration, change or modification of or to this Agreement, in order to become
      effective, must be made in writing and in each instance signed on behalf of
      each
      party to be charged.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>12.9</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Severability</u></strong>.&#160;&#160;If
      any term, provision, condition or covenant of this Agreement or its application
      to any party or circumstances shall be held, to any extent, invalid or
      unenforceable, the remainder of this Agreement, or the application of the term,
      provision, condition or covenant to persons or circumstances other than those
      as
      to whom or which it is held invalid or unenforceable, shall not be affected,
      and
      shall be valid and enforceable to the fullest extent permitted by
      law.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>12.10</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Survival</u></strong>.&#160;&#160;The
      conveyance of the Properties to Buyer shall constitute full performance and
      discharge of every representation, warranty and covenant and agreement of
      Sellers to be performed hereunder by the Closing, notwithstanding anything
      herein to the contrary.&#160;&#160;Thereupon, all representations or warranties,
      covenants or agreements by either Buyer or Sellers contained in this Agreement
      will terminate and will not survive the Closing, except for the representations
      and agreements which contemplate performance after Closing such as post-closing
      matters set forth in Section 10, payment of brokerage fees set forth in Section
      11, all matters set forth in this Section 12.10 and the Release of Claims to
      be
      executed and delivered by</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>27</strong></font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Buyer
      and
      each Lessee in favor of Sellers at the Closing, and any other matter or
      provision hereof that is expressly stated in this Agreement to survive the
      Closing.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>12.11</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Merger
      of Prior Agreements</u></strong>.&#160;&#160;This Agreement and the other
      Transaction Documents contain the entire understanding between the parties
      relating to the transactions contemplated by this Agreement and under the
      Related Purchase Agreements.&#160;&#160;All prior or contemporaneous agreements,
      understandings, representations and statements, whether direct or indirect,
      oral
      or written, are merged into and superseded by this Agreement and the other
      Transaction Documents, and shall be of no further force or effect.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>12.12</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Time
      of Essence</u></strong>.&#160;&#160;Time is of the essence of this
      Agreement.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>12.13</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Counterparts</u></strong>.&#160;&#160;This
      Agreement may be signed in multiple counterparts which, when duly delivered
      and
      taken together, shall constitute a binding Agreement between all
      parties.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>12.14</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Exhibits
      and Addendum</u></strong>.&#160;&#160;All exhibits and the addendum attached to
      this Agreement are incorporated herein by reference.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>12.15</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Cooperation
      of Parties</u></strong>.&#160;&#160;Each party agrees to sign any other and
      further instruments and documents and take such other actions as may be
      reasonably necessary or proper in order to accomplish the intent of this
      Agreement.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>12.16</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>No
      Third Party Beneficiaries</u></strong>.&#160;&#160;Except as otherwise expressly
      provided herein, the provisions of this Agreement are intended to be solely
      for
      the benefit of the parties hereto, and the execution and delivery of this
      Agreement shall not be deemed to confer any rights upon, nor obligate any of
      the
      parties hereunder, to any person or entity other than the parties to this
      Agreement.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>12.17</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Dates</u></strong>.&#160;&#160;If,
      pursuant to this Agreement, any date indicated herein falls on an official
      United States holiday, or a Saturday or Sunday, the date so indicated shall
      mean
      the next business day following such date.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>12.18</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Waiver
      of Trial by Jury</u></strong><strong>.</strong> BUYER AND SELLERS EACH
      ACKNOWLEDGE THAT IT HAS HAD THE ADVICE OF COUNSEL OF ITS CHOICE WITH RESPECT
      TO
      ITS RIGHTS TO TRIAL BY JURY UNDER THE CONSTITUTION OF THE UNITED STATES AND
      THE
      STATE OF CALIFORNIA AND THE STATE IN WHICH ANY PROPERTY IS
      LOCATED.&#160;&#160;BUYER AND SELLERS EACH HEREBY EXPRESSLY WAIVES ANY RIGHT TO
      TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION OR CAUSE OF ACTION (i) ARISING UNDER
      THIS AGREEMENT (OR ANY AGREEMENT FORMED PURSUANT TO THE TERMS HEREOF) OR (ii)
      IN
      ANY MANNER CONNECTED WITH OR RELATED OR INCIDENTAL TO THE DEALINGS OF BUYER
      AND
      SELLERS WITH RESPECT TO THIS AGREEMENT (OR ANY AGREEMENT FORMED PURSUANT TO
      THE
      TERMS HEREOF) OR ANY OTHER INSTRUMENT, DOCUMENT OR AGREEMENT EXECUTED OR
      DELIVERED IN CONNECTION HEREWITH, OR THE TRANSACTIONS RELATED HERETO OR THERETO,
      IN EACH CASE WHETHER NOW EXISTING OR HEREINAFTER ARISING, AND
      WHETHER</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>28</strong></font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">SOUNDING
      IN CONTRACT OR TORT OR OTHERWISE; BUYER AND SELLERS EACH HEREBY AGREES AND
      CONSENTS THAT, SUBJECT TO SECTION 12.19, ANY SUCH CLAIM, DEMAND, ACTION OR
      CAUSE
      OF ACTION SHALL BE DECIDED BY A COURT TRIAL WITHOUT A JURY, AND THAT EITHER
      PARTY MAY FILE A COPY OF THIS SECTION WITH ANY COURT AS CONCLUSIVE EVIDENCE
      OF
      THE CONSENT OF EACH SUCH PARTY TO THE WAIVER OF ITS RIGHT TO TRIAL BY
      JURY.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">BUYER&#8217;S
      INITIALS:_ /s/ EM _</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">SELLERS
      INITIALS:_ /s/ EJH
      _&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;_/s/
      EJH
      _&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;_/s/EJH_</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 144pt;"></font>_/s/
      EJH&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;_/s/
      EJH&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;_/s/
      EJH _</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>12.19</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Arbitration
      of Disputes</u>.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;EXCEPT
      AS PROVIDED IN SECTION 12.19(b) BELOW, ANY CONTROVERSY, DISPUTE OR CLAIM OF
      WHATSOEVER NATURE ARISING OUT OF, IN CONNECTION WITH, OR IN RELATION TO THE
      INTERPRETATION, PERFORMANCE OR BREACH OF THIS AGREEMENT, INCLUDING ANY CLAIM
      BASED ON CONTRACT, TORT OR STATUTE, SHALL BE DETERMINED BY FINAL AND BINDING,
      CONFIDENTIAL ARBITRATION ADMINISTERED BY THE AMERICAN ARBITRATION ASSOCIATION
      (&#8220;AAA&#8221;) IN ACCORDANCE WITH ITS THEN-EXISTING REAL ESTATE INDUSTRY ARBITRATION
      RULES, EXCEPT AS MODIFIED BY EXPRESS PROVISIONS HEREIN.&#160;&#160;THE
      ARBITRATION SHALL BE CONDUCTED BY A SINGLE ARBITRATOR WHO SHALL BE A RETIRED
      JUDGE OF THE COURT SELECTED BY MUTUAL AGREEMENT OF THE PARTIES, AND IF THEY
      CANNOT SO AGREE WITHIN FIFTEEN (15) DAYS AFTER THE CLAIM DATE, THE ARBITRATOR
      SHALL BE A RETIRED JUDGE OF THE COURT SELECTED UNDER THE AAA
      RULES.&#160;&#160;ANY ARBITRATION HEREUNDER SHALL BE GOVERNED BY THE UNITED
      STATES ARBITRATION ACT, 9 U.S.C. 1-16 (OR ANY SUCCESSOR LEGISLATION THERETO),
      AND JUDGMENT UPON THE AWARD RENDERED BY THE ARBITRATOR MAY BE ENTERED BY ANY
      STATE OR FEDERAL COURT HAVING JURISDICTION THEREOF.&#160;&#160;NEITHER BUYER,
      SELLER NOR THE ARBITRATOR SHALL DISCLOSE THE EXISTENCE, CONTENT OR RESULTS
      OF
      ANY ARBITRATION HEREUNDER WITHOUT THE PRIOR WRITTEN CONSENT OF ALL PARTIES;
      PROVIDED, HOWEVER, THAT EITHER PARTY MAY DISCLOSE THE EXISTENCE, CONTENT OR
      RESULTS OF ANY SUCH ARBITRATION TO ITS PARTNERS, OFFICERS, DIRECTORS, EMPLOYEES,
      AGENTS, ATTORNEYS AND ACCOUNTANTS AND TO ANY OTHER PERSON TO WHOM DISCLOSURE
      IS
      REQUIRED BY APPLICABLE GOVERNMENTAL REQUIREMENTS, INCLUDING PURSUANT TO AN
      ORDER
      OF A COURT OF COMPETENT JURISDICTION.&#160;&#160;UNLESS OTHERWISE AGREED BY THE
      PARTIES, ANY ARBITRATION HEREUNDER SHALL BE HELD AT A NEUTRAL LOCATION SELECTED
      BY THE ARBITRATOR IN LOS ANGELES, CALIFORNIA.&#160;&#160;THE COST OF THE
      ARBITRATOR AND THE EXPENSES RELATING TO THE ARBITRATION (EXCLUSIVE OF LEGAL
      FEES) SHALL BE BORNE EQUALLY BY BUYER AND SELLER UNLESS OTHERWISE SPECIFIED
      IN
      THE AWARD OF THE ARBITRATOR.&#160;&#160;SUCH FEES AND COSTS PAID OR PAYABLE TO
      THE ARBITRATOR SHALL BE INCLUDED IN &#8220;COSTS AND ATTORNEYS&#8217; AND PARALEGALS&#8217; FEES&#8221;
FOR</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>29</strong></font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">PURPOSES
      OF SECTION&#160;12.2 AND THE ARBITRATOR SHALL SPECIFICALLY HAVE THE POWER TO
      AWARD TO THE PREVAILING PARTY PURSUANT TO SUCH SECTION&#160;12.2 SUCH PARTY&#8217;S
      COSTS AND EXPENSES INCURRED IN SUCH ARBITRATION, INCLUDING FEES AND COSTS PAID
      TO THE ARBITRATOR.&#160;&#160;DISCOVERY SHALL BE LIMITED TO REQUESTS FOR
      PRODUCTION OR INSPECTION OF DOCUMENTS AND THINGS, REQUESTS FOR ADMISSIONS AND
      DEPOSITIONS, UNDER THE CALIFORNIA DISCOVERY ACT, AS INCORPORATED INTO THE CODE
      OF CIVIL PROCEDURE.&#160;&#160;ALL SUCH DISCOVERY SHALL BE COMPLETED NO LATER
      THAN TEN (10) DAYS BEFORE THE FIRST HEARING DATE ESTABLISHED BY THE
      ARBITRATOR.&#160;&#160;THE ARBITRATOR MAY EXTEND SUCH PERIOD IN THE EVENT OF A
      PARTY&#8217;S FAILURE OR REFUSAL TO PROVIDE IN COMPLIANCE WITH THE CODE OF CIVIL
      PROCEDURE EXCEPT FOR THE TIME PROVISIONS, REQUESTED DISCOVERY AUTHORIZED BY
      THESE ARBITRATION PROVISIONS FOR ANY REASON WHATSOEVER, INCLUDING, WITHOUT
      LIMITATION, OBJECTIONS RAISED TO SUCH DISCOVERY OR UNAVAILABILITY OF A WITNESS
      DUE TO ABSENCE OR ILLNESS.&#160;&#160;NO PARTY SHALL BE ENTITLED TO &#8220;PRIORITY&#8221;
IN CONDUCTING DISCOVERY.&#160;&#160;THE ARBITRATOR SHALL DETERMINE THE MANNER IN
      WHICH THE ARBITRATION HEARING IS CONDUCTED INCLUDING THE TIMING AND PRESENTATION
      OF EVIDENCE AND ARGUMENT, AND ALL OTHER QUESTIONS THAT MAY ARISE WITH RESPECT
      TO
      THE ARBITRATION PROCEEDINGS.&#160;&#160;THE ARBITRATOR SHALL BE REQUIRED TO
      DETERMINE ALL ISSUES IN ACCORDANCE WITH EXISTING CASE AND STATUTORY LAWS OF
      CALIFORNIA.&#160;&#160;THE RULES OF EVIDENCE APPLICABLE TO CIVIL TRIALS IN
      CALIFORNIA SHALL BE APPLICABLE TO THE ARBITRATION PROCEEDING.&#160;&#160;THE
      ARBITRATOR SHALL BE EMPOWERED TO ENTER EQUITABLE AS WELL AS LEGAL RELIEF AS
      IS
      EXPRESSLY PROVIDED BY THIS AGREEMENT.&#160;&#160;THE ARBITRATOR SHALL ISSUE AN
      AWARD AT THE CLOSE OF THE ARBITRATION PROCEEDING THAT SHALL DISPOSE OF ALL
      OF
      THE CONTROVERSIES, DISPUTES AND CLAIMS OF THE PARTIES THAT ARE THE SUBJECT
      OF
      THE ARBITRATION.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;THE
      PROVISIONS OF THIS SECTION 12.19 SHALL NOT APPLY TO ANY REQUEST OR APPLICATION
      FOR AN ORDER OR DECREE GRANTING ANY PROVISIONAL OR ANCILLARY REMEDY (SUCH AS
      A
      TEMPORARY RESTRAINING ORDER OR INJUNCTION) WITH RESPECT TO ANY RIGHT OR
      OBLIGATION OF EITHER PARTY TO THIS AGREEMENT, AND ANY PRELIMINARY DETERMINATION
      OF THE UNDERLYING CONTROVERSY, DISPUTE, QUESTION OR ISSUE AS IS REQUIRED TO
      DETERMINE WHETHER OR NOT TO GRANT SUCH RELIEF.&#160;&#160;A FINAL AND BINDING
      DETERMINATION OF SUCH UNDERLYING CONTROVERSY, DISPUTE, QUESTION OR ISSUE SHALL
      BE MADE BY AN ARBITRATION CONDUCTED PURSUANT TO THIS SECTION 12.19 AFTER AN
      APPROPRIATE TRANSFER OR REFERENCE TO THE ARBITRATOR SELECTED PURSUANT TO THIS
      SECTION 12.19 UPON MOTION OR APPLICATION OF EITHER PARTY HERETO.&#160;&#160;ANY
      ANCILLARY OR PROVISIONAL RELIEF WHICH IS GRANTED PURSUANT TO THIS SECTION
      12.19(b) SHALL CONTINUE IN EFFECT PENDING AN ARBITRATION DETERMINATION AND
      ENTRY
      OF JUDGMENT THEREON PURSUANT TO THIS SECTION 12.19.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>30</strong></font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">NOTICE:&#160;&#160;BY
      INITIALING IN THE SPACE BELOW YOU ARE AGREEING TO HAVE ANY DISPUTE ARISING
      OUT
      OF THE MATTERS INCLUDED IN THE &#8220;ARBITRATION OF DISPUTES&#8221; PROVISION DECIDED BY
      NEUTRAL ARBITRATION AS PROVIDED BY CALIFORNIA LAW AND YOU ARE GIVING UP ANY
      RIGHTS YOU MIGHT POSSESS TO HAVE THE DISPUTE LITIGATED IN A COURT OR JURY
      TRIAL.&#160;&#160;BY INITIALING IN THE SPACE BELOW YOU ARE GIVING UP YOUR
      JUDICIAL RIGHTS TO DISCOVERY AND APPEAL, UNLESS THOSE RIGHTS ARE SPECIFICALLY
      INCLUDED IN THE &#8220;ARBITRATION OF DISPUTES&#8221; PROVISION.&#160;&#160;IF YOU REFUSE TO
      SUBMIT TO ARBITRATION AFTER AGREEING TO THIS PROVISION, YOU MAY BE COMPELLED
      TO
      ARBITRATE UNDER THE AUTHORITY OF THE CALIFORNIA CODE OF CIVIL
      PROCEDURE.&#160;&#160;YOUR AGREEMENT TO THIS ARBITRATION PROVISION IS
      VOLUNTARY.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">WE
      HAVE
      READ AND UNDERSTAND THE FOREGOING AND AGREE TO SUBMIT DISPUTES ARISING OUT
      OF
      THE MATTERS INCLUDED IN THE &#8220;ARBITRATION OF DISPUTES&#8221; PROVISION TO NEUTRAL
      ARBITRATION.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">BUYER&#8217;S
      INITIALS:_ /s/ EM______</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">SELLERS
      INITIALS:_ /s/
      EJH______&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;:_/s/
      EJH
      _&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;:_/s/EJH_</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 144pt;"></font>:_/s/
      EJH
      _&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;:_/s/
      EJH
      _&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;:_/s/
      EJH __</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>12.20</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Seller&#8217;s
      Designated Agent</u></strong><strong>.&#160;&#160;</strong>Each Seller hereby
      appoints HCP to act as its designated agent and representative for all purposes
      of this Agreement.&#160;&#160;Accordingly, all notices given to or by, and all
      actions taken by HCP, for itself or on behalf of any Seller hereunder, shall
      be
      binding upon each other Seller hereunder as if such Seller had individually
      given or received such notice or taken such action, and each Seller, by entering
      into this Agreement, authorizes HCP to receive or give such notices and take
      such actions on its behalf.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>12.21</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>No
      Consent or Waiver</u></strong>.&#160;&#160;Nothing contained herein or in any of
      the other Transaction Documents shall be deemed or construed to the consent
      or
      approval by or waiver of any rights by HCP or any Affiliate of HCP to the
      proposed transaction contemplated by that certain Agreement and Plan of Merger
      between Emeritus or any Affiliate of Emeritus and Summerville or any Affiliate
      of Summerville pursuant to which Emeritus has agreed to acquire all of the
      outstanding stock of Summerville.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>12.22</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Property
      Disclosures Generally</u></strong>.&#160;&#160;Buyer hereby waives the right to
      receive and any obligation of Sellers to deliver any disclosures applicable
      to
      any Property and required by Law; provided, however, if such waiver is not
      permitted by applicable Law, then Buyer shall promptly notify Sellers in writing
      thereof and Sellers shall provide, at Buyer&#8217;s expense, any such required
      disclosures as soon as practicable following Sellers&#8217; receipt of Buyer&#8217;s notice.
      The provisions of this Section 12.21 shall survive the Closing or any earlier
      termination of this Agreement.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>31</strong></font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div><br>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>12.23</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Matters
      related to Certain Specific States</u></strong>.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>12.23.1</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 6pt;"></font><strong><u>Florida</u></strong>.&#160;&#160;Pursuant
      to Section 404.056, Florida Statues, Sellers hereby notifies Buyer as
      follows:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 45pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#8220;RADON
      GAS: Radon is a naturally occurring radioactive gas that, when it has
      accumulated in a building in sufficient quantities, may present health risks
      to
      persons who are exposed to it over time.&#160; Levels of radon that exceed
      federal and state guidelines have been found in buildings in Florida.&#160;
Additional information regarding radon and radon testing may be obtained from
      your county health department.&#8221;&#160;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>12.23.2</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 6pt;"></font><strong><u>Louisiana</u></strong>.&#160;&#160;Pursuant
      to Section 404.056, Florida Statues, Sellers hereby notifies Buyer as
      follows:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 144pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(a)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Earnest
      Money Deposit</u></strong><strong>.</strong>&#160;&#160;Notwithstanding anything
      to the contrary in this Agreement, for purposes of Properties located in
      Louisiana (collectively, the &#8220;Louisiana Properties&#8221;), the Escrow Money Deposit
      is not &#8220;earnest money,&#8221; but is a &#8220;deposit&#8221; for purposes of La. Civ. Code art.
      2624.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 144pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(b)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Louisiana
      Warranty Waivers</u></strong><strong>. </strong>In accordance with Section 5.3
      above, Buyer will purchase the Louisiana Properties in their &#8220;as is&#8221; condition
&#8220;with all faults,&#8221; and specifically and expressly without any warranties,
      representations, or guaranties, either express or implied, of any kind, nature,
      or type whatsoever, from or on behalf of the Sellers or any of them, with the
      exception of the warranties set out in Section 8 of this Agreement and the
      warranty of title as to the Sellers&#8217; own acts (excluding the title matters
      accepted by Buyer in this Agreement).&#160;&#160;The Deed with respect to the
      Louisiana Properties will be an Act of Cash Sale in form customary for real
      property transfers in Louisiana and will contain the following waiver by Buyer
      of all warranties of condition and title and the Sellers&#8217; warranty of title as
      to Sellers&#8217; own acts:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Buyer
      has
      inspected the title to and condition of the Property and is aware of and
      satisfied with its current title and condition.&#160;&#160;This sale, transfer
      and conveyance is made &#8220;as is-where is,&#8221; without any warranty, guaranty, or
      representations by Seller as to the title to or condition of the Property and
      warranty of merchantability of title as to Seller&#8217;s own acts, excluding [the
      Permitted Exceptions].&#160;&#160;Seller hereby expressly disclaims and Buyer
      hereby expressly waives any and all warranties whatsoever, either oral or
      written, expressed or implied, made by Seller or any other person or entity
      or
      implied by law with respect to the Property and the warranty of merchantability
      of title as to Seller&#8217;s own acts, excluding [the Permitted Exceptions], with the
      warranties waived herein including, without limitation, any and all warranties
      of title or peaceful possession (other than warranty of merchantability of
      title
      as to Seller&#8217;s own acts, , excluding [the Permitted Exceptions]) or use,
      condition, title, operation or management of the Property or compliance with
      any
      applicable governmental laws, codes, ordinances, regulations, judgments,
      permits, approvals or other requirements relating to zoning, subdivision,
      planning, buildings, fire, safety, earthquake, health or compliance with any
      other covenants, conditions, or restrictions (whether or</font></div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>32</strong></font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">not
      of
      record), any and all other warranties as to the condition of the Property or
      any
      of its components or parts or contents or any improvements, fixtures, or
      equipment forming a part thereof, any and all warranties with respect to the
      fitness or suitability of the Property for Buyer's business or any other
      particular or general use or purpose, any and all warranties with respect to
      the
      presence or suspected presence of any rodent or insect infestations, including
      subterranean or other termites or wood boring organisms, or the presence or
      suspected presence of mold, mildew, or fungal or other biological or microbial
      growths, and any and all warranties with respect to the condition of the
      Property under La. Civ. Code art. 2475, and any and all warranties whatsoever
      under La. Civ. Code arts. 2477 through 2548 or any other provision of
      law.&#160;&#160;Buyer expressly acknowledges the foregoing and waives any and
      all right or cause of action that Buyer has or may have to rescind or resolve
      this transfer or to demand a reduction in purchase price based upon the
      existence of any redhibitory or other vices, defects, or other deficiencies
      in
      the Property or any improvements, fixtures, or equipment forming a part thereof,
      based upon the unsuitability of the Property or any of its components or parts
      for Buyer's intended use or any other use, based upon any eviction of Buyer,
      in
      whole or in part, or based upon any other claimed breach of warranty or other
      matter whatsoever, this transfer being otherwise entirely at Buyer's sole peril
      and risk, provided, however, that Seller will remain liable for its warranty
      of
      title as to Seller&#8217;s own acts (excluding [the Permitted
      Exceptions]).&#160;&#160;Buyer acknowledges and agrees that the foregoing
      disclaimers and waiver of warranties have been fully explained to Buyer and
      that
      Buyer understands the same.&#160;&#160;Buyer and Seller jointly acknowledge and
      agree that the foregoing waivers and disclaimers are of the essence of this
      transaction and the same would not otherwise have been entered into or
      consummated without them.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Without
      limiting the generality of the foregoing, Buyer hereby expressly waives, and
      releases Seller from, any claims, demands, causes or rights of action, in
      reimbursement, contribution or otherwise, that Buyer has or may have against
      Seller arising out of damages, losses or liabilities incurred by or imposed
      on
      Buyer or its successors or assigns based upon the existence of any asbestos
      and/or polychlorobiphenyl (PCB), and/or chlorinated solvents, and/or petroleum,
      including crude oil and any fraction thereof, and/or any other Hazardous
      Materials (as defined below) in, on or under the Property or the violation
      of
      any Environmental Law (as defined below) with respect to the
      Property.&#160;&#160;&#8220;Hazardous Materials&#8221; means any substance or material, (i)
      the presence of which requires investigation, remediation and/or monitoring
      under any federal, state, or local statute, regulation, policy, law, or
      ordinance, including, without limitation, asbestos, asbestos-containing
      materials, petroleum and petroleum products, the group of organic compounds
      known as polychlorinated biphenyls, and any substances or materials that are
      regulated, controlled or prohibited under any Environmental Law; or
      (ii)&#160;which is or becomes defined as a &#8220;hazardous waste,&#8221; hazardous
      substance,&#8221; &#8220;solid waste,&#8221; pollutant or contaminant under any Environmental Law;
      or (iii) which is toxic, explosive, corrosive, flammable, infectious,
      radioactive, carcinogenic, mutagenic, or otherwise hazardous or is
      or</font></div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>33</strong></font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">becomes
      regulated by any governmental authority, agency, department, commission, board,
      agency or instrumentality of the United States, the State of Louisiana or any
      political subdivision thereof; or (iv) the presence of which on adjacent
      properties would constitute a trespass by the owner or operator of the Property.
      &#8220;Environmental Law&#8221; means any one or more of the following: the Resource
      Conservation and Recovery Act of 1976 (Solid Waste Disposal Act) (&#8220;RCRA&#8221;), 42
      U.S.C. &#167; 6901 et seq.; the Comprehensive Environmental Response, Compensation
      and Liability Act of 1980 (&#8220;CERCLA&#8221;), 42 U.S.C. Sections 9601 et seq., as
      amended by the Superfund Amendments and Reauthorization Act of 1986 (&#8220;SARA&#8221;);
      the Federal Water Pollution Control Act, 33 U.S.C. &#167;1251 et seq.; the Clean Air
      Act, 42 U.S.C. &#167; 7401 et seq.; the Toxic Substances Control Act (&#8220;TCSA&#8221;), 15
      U.S.C.&#167; 2601 et seq.; the Louisiana Environmental Quality Act, La. R.S. Section
      30:2001 <u>et&#160;seq.</u>; and any other federal or state law, statute, rule,
      order, or regulation, or local ordinance or other enactment, that is similar
      to
      the foregoing or that establishes environmental protection or regulatory
      requirements.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">In
      addition, the Louisiana Properties will be transferred with no rights of
      substitution or subrogation as to prior owners of the Louisiana Properties
      that
      are affiliates of Sellers or any of them.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>12.23.3</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 6pt;"></font><strong><u>Massachusetts</u></strong>.
      For purposes of Properties located in Massachusetts, &#8220;Hazardous Substances&#8221;
shall include any substance regulated or listed in Massachusetts General Law
      Chapters 21C, 21E and the implementing regulations thereof pursuant to 310
      CMR
      40.00.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>12.23.4</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 6pt;"></font><strong><u>Montana</u></strong>.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 144pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(a)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Radon
      Disclosure</u></strong>:&#160;&#160;The following disclosure is given pursuant
      to the Montana Radon Control Act, MCA &#167; 75-3-606.&#160;&#160;RADON GAS: RADON IS
      A NATURALLY OCCURRING RADIOACTIVE GAS THAT, WHEN IT HAS ACCUMULATED IN A
      BUILDING IN SUFFICIENT QUANTITIES, MAY PRESENT HEALTH RISKS TO PERSONS WHO
      ARE
      EXPOSED TO IT OVER TIME. LEVELS OF RADON THAT EXCEED FEDERAL GUIDELINES HAVE
      BEEN FOUND IN BUILDINGS IN MONTANA.&#160;&#160;ADDITIONAL INFORMATION REGARDING
      RADON AND RADON TESTING MAY BE OBTAINED FROM YOUR COUNTY OR STATE PUBLIC HEALTH
      UNIT.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 144pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(b)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Noxious
      Weeds Disclosure</u></strong>:&#160;&#160;The following disclosure is given
      pursuant to MCA &#167; 7-22-2116(2).&#160;&#160;Some properties in Montana contain
      noxious weeds and property owners are legally required to control and eradicate
      noxious weeds.&#160;&#160;Information regarding a property owners&#8217; obligations
      can be obtained from the local County extension agent or the Weed Control
      Board.</font></div>
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      Law Disclosure</u></strong>:&#160;&#160;Pursuant to the Montana Sexual and
      Violent Offender Registration Act, certain individuals are required to register
      their address with law enforcement agencies.&#160;&#160;Law enforcement offices
      may make such information</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
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        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>34</strong></font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
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        </div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">concerning
      registered offenders available to the public.&#160;&#160;If you would like
      information regarding the registration of offenders, contact your local law
      enforcement agency, the Montana Department of Justice or a probation office
      in
      your community.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>12.23.5</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 6pt;"></font><strong><u>New
      Jersey</u></strong>.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 144pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(a)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Certificate
      of Occupancy</u></strong>.&#160;&#160;If any governmental authority requires
      that a Certificate of Occupancy or Certificate of Continued Occupancy
      (collectively referred to as &#8220;CCO&#8221;) be obtained prior to the transfer of any
      Property located in New Jersey or any State or jurisdiction, Buyer agrees to
      obtain such CCO prior to Closing, at its sole cost and expense.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 144pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(b)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Environmental
      Matters</u></strong>.&#160;&#160;Without limiting the representations and
      warranties of Buyer pursuant to Article 8 of this Agreement, Buyer further
      represents and warrants that no Property located in New Jersey constitutes
      an
&#8220;industrial establishment&#8221; or can be the subject of &#8220;negative declaration&#8221;
within the meaning of the Environmental Cleanup Responsibility Act and/or the
      Industrial Site Recovery Act, <u>N.J.S.A.</u> 13:1K-6
<u>et</u><u>seq</u>..</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 144pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(a)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Zoning</u></strong>.&#160;&#160;Without
      limiting the representations and warranties of Buyer pursuant to Article 8
      of
      this Agreement, Buyer hereby represents and warrants to Seller that Buyer as
      an
      Affiliate of Emeritus Lessee is fully aware of the zoning applicable to the
      Properties located in Allentown, PA and Latrobe, PA (the &#8220;Pennsylvania
      Properties&#8221;), and that the present use of such Properties by the applicable
      Emeritus Lessee thereof is in fully compliance with such
      zoning.&#160;&#160;Seller hereby confirms to Buyer that Seller has not received
      notice of any uncorrected violations of housing, building, safety or fire
      ordinances.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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      Facility</u></strong>.&#160;&#160;The Pennsylvania Sewage Facilities Act of
      January 24, 1966, No. 537 P.L. 1535, as amended, requires that there be a
      statement regarding the availability of a community sewage system.&#160;&#160;In
      compliance therewith, and without limiting the representations and warranties
      of
      Buyer pursuant to Article 8 of this Agreement, Buyer hereby represents and
      warrants to Seller, and Seller hereby acknowledges, that the each of the
      Pennsylvania Properties are serviced by a community sewage system.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 144pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(c)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Coal
      Notice</u></strong>.&#160;&#160;NOTICE -- THIS AGREEMENT MAY NOT SELL, CONVEY,
      TRANSFER, INCLUDE OR INSURE THE TITLE TO THE COAL AND RIGHT OF SUPPORT
      UNDERNEATH THE SURFACE LAND DESCRIBED OR REFERRED TO HEREIN, AND THE OWNER
      OR
      OWNERS OF SUCH COAL MAY HAVE THE COMPLETE LEGAL RIGHT TO REMOVE ALL OF SUCH
      COAL
      AND, IN THAT CONNECTION, DAMAGE MAY RESULT TO THE SURFACE OF THE LAND AND ANY
      HOUSE, BUILDING OR OTHER STRUCTURE ON OR IN SUCH LAND.&#160;&#160;THE INCLUSION
      OF THIS NOTICE DOES NOT ENLARGE, RESTRICT OR MODIFY ANY LEGAL RIGHTS OR ESTATES
      OTHERWISE CREATED, TRANSFERRED, EXCEPTED OR RESERVED BY THIS
      INSTRUMENT.&#160;&#160;(This notice is set forth in the manner provided in
      Section 1 of the Act of</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>35</strong></font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
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        </div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">July
      17,
      1957, P.L.&#160;984, as amended, and is not intended as notice of unrecorded
      instruments, if any.)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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      parties hereto waive any rights Uniform Vendor and Purchase Risk Act of the
      State of Texas.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">[Signature
      Page Follows]</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>36</strong></font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
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      WITNESS WHEREOF, the parties hereto have executed this Agreement as of the
      date
      first above written.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">SELLERS:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;HEALTH
      CARE PROPERTY INVESTORS, INC.,</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 144pt;"></font>a
      Maryland corporation</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 144pt;"></font>By:
      /s/ Edward J
      Henning&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 144pt;"></font>Its:
      Executive Vice
      President&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;</font>HCPI
      TRUST,</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;</font>a
      Maryland real estate
      trust</font></div>
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    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;</font>By:&#160;&#160;&#160;/s/
      Edward J
      Henning<font id="TAB1" style="MARGIN-LEFT: 9pt;"></font></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;</font>Its:&#160;&#160;&#160;Executive
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;</font>TEXAS
      HCP HOLDING,
      L.P.,</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;</font>a
      Delaware limited
      partnership</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;
      By:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Texas HCP
      G.P., Inc.,</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;</font>a
      Delaware
      corporation,</font></div>
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          </tr>

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    <div><br></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">By:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Its:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Date:&#160;&#160;June
      ___, 2007</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Escrow
      No.:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>D1
      027047813</u></font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Escrow
      Officer:&#160;&#160;&#160;&#160;&#160;<u>Angie Koetters_</u></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 72pt;"></font>Telephone
      No.: <u>(312)
      223-2718</u></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 72pt;"></font>Fax
      No.:&#160;&#160;<u>(312)
      223-5888</u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Address
      for Notices:&#160;&#160;&#160;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><u><font id="TAB2" style="LETTER-SPACING: 9pt;"><font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;&#160;&#160;&#160;</font>&#160;Chicago
      Title and Trust Company</u></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 72pt;"></font><u>171
      North
      Cask</u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 72pt;"></font><u>Chicago,
      IL&#160;&#160;60601</u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Wiring
      Information:</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Bank:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>LaSalle
      National Bank</u></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 72pt;"></font><u>135
      S. LaSalle
      Street</u></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 72pt;"></font><u>Chicago,
      IL&#160;&#160;60603</u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">ABA
      No.:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><br></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 144pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Credit
                to:</font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><u>Chicago
                Title and Trust Company, Loop</u></font></div>
            </td>
            <td>&#160;</td>
            <td>&#160;</td>
            <td>&#160;</td>
          </tr>

      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 108pt">
              <div>&#160;</div>
            </td>
            <td>&#160;</td>
          </tr>

      </table>
    </div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Account
      No.:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div>
    <div><br></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 180pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Reference:</font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><u>Escrow
                No. D1 027047813</u></font></div>
            </td>
            <td>&#160;</td>
          </tr>

      </table><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Escrow
      Officer:&#160;&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<u>Angie
      Koetters</u></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;&#160;&#160;
      &#160;<u>Closing Division:
      D1</u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB2" style="LETTER-SPACING: 9pt;"><font id="TAB2" style="LETTER-SPACING: 9pt;"><font id="TAB2" style="LETTER-SPACING: 9pt;"><font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;</font>&#160;&#160;&#160;&#160;</font>&#160;&#160;&#160;&#160;</font>&#160;&#160;&#160;&#160;</font>&#160;&#160;
      Re:&#160;&#160;HCP/Emeritus</font></div>
    <div><br></div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
        </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>EXHIBIT
      A-1</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>EMERITUS
      MASTER LEASE</u></strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">That
      certain Amended and Restated Master Lease dated as of September 18, 2002, as
      amended by that certain First Amendment to Amended and Restated Master Lease
      dated August 31, 2003, that certain Second Amendment to Amended and Restated
      Master Lease dated January 26, 2004, that certain Third Amendment to Amended
      and
      Restated Master Lease dated April 22, 2004, that certain Fourth Amendment to
      Amended and Restated Master Lease dated July 30, 2004, that certain Fifth
      Amendment to Amended and Restated Master Lease dated as of December 13, 2005,
      and that certain Sixth Amendment to Amended and Restated Master Lease dated
      March 26, 2007.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>A-1</strong></font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>EXHIBIT
      A-2</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>SUMMERVILLE
      MASTER LEASE</u></strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">That
      certain Amended and Restated Master Lease dated as of April 20, 2005, as amended
      by that certain First Amendment to Amended and Restated Master Lease dated
      as of
      September&#160;1, 2005, that certain Second Amendment to Amended and Restated
      Master Lease dated effective as of December 22, 2005, that certain Third
      Amendment to Amended and Restated Master Lease dated as of January 31, 2006,
      that certain Fourth Amendment to Amended and Restated Master Lease and
      Consolidation and Restatement of Beckett Lake Facility Master Lease dated as
      of
      May 31, 2006, that certain Fifth Amendment to Amended and Restated Master Lease
      dated as of June 1, 2006, that certain Sixth Amendment to Amended and Restated
      Master Lease dated as of August 1, 2006 and that certain Seventh Amendment
      to
      Amended and Restated Master Lease dated as of October 2, 2006.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>A-2</strong></font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>EXHIBIT
      A-3</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>PAINTED
      POST LEASE</u></strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">That
      certain Lease dated as of October 19, 1995, as amended by that certain First
      Amendment to Lease dated December 13, 1995, that certain Second Amendment to
      Lease dated June 24, 1996, that certain Third Amendment to Lease dated August
      31, 2003 and that certain Fourth Amendment to Lease dated July 30,
      2004.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>A-3</strong></font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>EXHIBIT
      B</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>GENERAL
      ESCROW PROVISIONS</u></strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 36pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">1.</font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">All
                funds received in this escrow shall be deposited in a separate escrow
                fund
                account or accounts of Chicago Title and Trust Company (for the benefit
                of
                the parties hereto) with a State or National Bank qualified to do
                business
                in the State of Illinois, such that each account shall be fully insured
                at
                all times by the Federal Deposit Insurance Corporation, to the maximum
                extent permitted by law.&#160;&#160;All disbursements shall be made by
                wire transfer of funds to the account of the applicable party to
                whom such
                disbursements are owed as directed by such
                party.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 36pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">2.</font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">You
                are authorized to prepare, obtain, record and deliver the necessary
                instruments to carry out the terms and conditions of this escrow
                and to
                order to be issued at close of escrow the policy of title insurance
                as
                called for in these instructions.&#160;&#160;Close of escrow shall mean
                the date instruments are recorded.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 36pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">3.</font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">All
                adjustments and prorations shall be made on the basis of a 30-day
                month.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 36pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">4.</font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">[Reserved]</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 36pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">5.</font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Subject
                to the provisions of Section&#160;&#160;15 below, you are not to be held
                accountable or liable for the sufficiency or correctness as to form,
                manner of execution, or validity of any instrument deposited in this
                escrow, nor as to the identity, authority or rights of any person
                executing the same.&#160;&#160;Your duties hereunder shall be limited to
                the proper handling of such money and the proper safekeeping of such
                instruments, or other documents received by you as escrow holder,
                and for
                the disposition of same in accordance with the written instructions
                accepted by you in this escrow.&#160;&#160;The foregoing shall not be
                deemed or construed to relieve you of any liability resulting from
                your
                gross negligence or willful
                misconduct.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 36pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">6.</font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">You
                shall have no responsibility of notifying me or any of the parties
                to this
                escrow of any sale, resale, loan, exchange or other transaction involving
                any property herein described or of any profit realized by any person,
                firm or corporation in connection therewith, regardless of the fact
                that
                such transaction(s) may be handled by you in this escrow or in another
                escrow.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 36pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">7.</font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">No
                notice, demand or change of instruction shall be of any effect in
                this
                escrow unless given in writing by all parties affected thereby and
                except
                as otherwise specifically provided in the Agreement to which these
                General
                Provisions are attached.&#160;&#160;In the event a demand for the funds on
                deposit in this escrow is made, not concurred in by all parties hereto,
                the escrow holder, regardless of who made demand therefor, may elect
                to do
                any of the following:</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 36pt">
              <div>&#160;</div>
            </td>
            <td style="WIDTH: 36pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">i.</font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Withhold
                and stop all further proceeding in, and performance of, this escrow
                pending a resolution of any conflict by and between the parties hereto;
                or</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 36pt">
              <div>&#160;</div>
            </td>
            <td style="WIDTH: 36pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">ii.</font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">File
                a suit in interpleader and obtain an order from the court allowing
                escrow
                holder to deposit all funds and documents in court and have no further
                liability</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>B-1</strong></font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div><br>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 108pt">
              <div>&#160;</div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">hereunder,
                except for its own negligent or willful misconduct or any breach
                by escrow
                holder of any obligations in this
                Agreement.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 36pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">8.</font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">If
                the conditions of this escrow have not been complied with at the
                time
                herein provided, you are nevertheless to complete the same as soon
                as the
                conditions (except as to time) have been complied with, unless Buyer
                has
                made written demand upon you for the return of money and instruments
                deposited by Buyer.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 36pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">9.</font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">All
                parties hereto agree, jointly and severally, to pay on demand, as
                well as
                to indemnify and hold you harmless from and against all costs, damages,
                judgments, attorney&#8217;s fees, expenses, obligations and liabilities of any
                kind or nature which, in good faith, you may incur or sustain in
                connection with this escrow, whether arising before or subsequent
                to the
                close of this escrow, except to the extent caused by the negligence
                or
                willful misconduct of the escrow
                holder.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 36pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">10.</font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Unless
                the Agreement otherwise provides or unless otherwise instructed by
                either
                Buyer or Seller, you are authorized to furnish copies of these
                instructions, any supplements or amendments thereto, notices of
                cancellation and closing statements to the attorneys, real estate
                broker(s) and lender(s) named in this
                escrow.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 36pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">11.</font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">[Reserved]</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 36pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">12.</font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">[Reserved]</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 36pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">13.</font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Any
                funds abandoned or remaining unclaimed, after good faith efforts
                have been
                made by the escrow holder to return same to the party(ies) entitled
                thereto, shall be assessed a holding fee of $50.00
                annually.&#160;&#160;Following any statutory period, any amounts
                thereafter remaining unclaimed may escheat to the State in which
                escrow
                holder is located.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 36pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">14.</font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">All
                documents, closing statements, and balances due the parties to this
                escrow
                are to be mailed by ordinary mail to said parties at the addresses
                shown
                opposite their signatures, unless otherwise
                instructed.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 36pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">15.</font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Notwithstanding
                the foregoing, if escrow holder is also acting as Title Company under
                this
                Agreement, nothing set forth in these General Escrow Provisions shall
                limit any liability set forth in the Title Policy provided in the
                Agreement.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 36pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">16.</font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">For
                purposes of complying with Internal Revenue Code &#167; 6045(e), as amended
                effective January 1, 1991, escrow holder is hereby designated as
                the
                &#8220;person responsible for closing the transaction&#8221; and also as the
                &#8220;reporting person,&#8221; for purposes of filing any information returns with
                the Internal Revenue Service concerning this transaction, as required
                by
                law.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br></div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>B-2</strong></font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>EXHIBIT
      C</strong></font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>[RESERVED]</strong></font></div>
    <div><br></div>
    <div><br></div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>C-1</strong></font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>EXHIBIT
      D</strong></font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>FORM
      OF QUITCLAIM BILL OF SALE</u></strong></font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">FOR
      VALUABLE CONSIDERATION, the receipt and sufficiency of which are hereby
      acknowledged, ______________, a ___________________ (&#8220;Seller&#8221;) does hereby
      convey to EMERITUS CORPORATION, a Washington corporation (&#8220;Buyer&#8221;), &#8220;AS IS&#8221; and
      without warranty of any kind, other than the warranty that Seller has not
      encumbered the same, all of Seller&#8217;s right, title and interest, if any, in and
      to any tangible personal property located upon the land described on <u>Schedule
      1</u> attached hereto and hereby made a part hereof (the &#8220;Land&#8221;) or within the
      improvements located thereon.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">TO
      HAVE
      AND TO HOLD all of said personal property unto Buyer, its successors and
      assigns, to its own use forever.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">This
      conveyance is without any warranties whatsoever, and any property conveyed
      in
      this Bill of Sale is conveyed &#8220;as is, where is,&#8221; without any warranty of any
      nature or kind whatsoever, and Buyer hereby expressly waives all warranties
      whatsoever with respect to the property (if any), including without limitation,
      all warranty whatsoever with respect to the title to, existence of, or condition
      of the property, all warranties with respect to the fitness of the Property
      for
      any particular use or purpose,<font style="DISPLAY: inline; FONT-SIZE: 10pt;">&#160;</font>and all warranties under
      any applicable governmental laws, codes, ordinances, regulations, judgments,
      permits, approvals or other requirements, including, without limitation, La.
      Civ. Code art. 2475 with respect to the condition of the Property, and La.
      Civ.
      Code arts. 2520 through 2548 or any other provision of law.&#160;&#160;Buyer
      expressly acknowledges the foregoing and waives any and all rights or causes
      of
      action that Buyer has or may have to rescind or resolve this transfer or to
      demand a reduction in purchase price based upon the existence of any redhibitory
      or other vices, defects, or other deficiencies in the physical condition of
      property, based upon the unsuitability of the property or any of its components
      or parts for Buyer's intended use or any other use, or based upon any eviction
      of Buyer, in whole or in part, this sale being at Buyer&#8217;s sole peril and risk
      with respect to all property that may be conveyed in this Bill of
      Sale.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">IN
      WITNESS WHEREOF, Seller has executed this Bill of Sale as of the ____ day of
      ________, 200_.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 216pt">
              <div>&#160;</div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Seller:</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 216pt">
              <div>&#160;</div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">______________________,
                a _________________</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 252pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">By:</font></div>
            </td>
            <td>&#160;</td>
          </tr>

      </table>
    </div>
    <div><br></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 252pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Its:</font></div>
            </td>
            <td>&#160;</td>
          </tr>

      </table>
    </div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div><br></div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>D-1</strong></font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Schedule
      1</strong></font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>LEGAL
      DESCRIPTION OF LAND</u></strong></font></div>
    <div><br></div>
    <div><br></div>
    <div><br></div>
    <div><br></div>
    <div><br></div>
    <div><br></div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Schedule
          1 to Bill of Sale</strong></font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>EXHIBIT
      E</strong></font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>[RESERVED]</u></strong></font></div>
    <div><br></div>
    <div><br></div>
    <div><br></div>
    <div><br></div>
    <div><br></div>
    <div><br></div>
    <div><br></div>
    <div><br></div>
    <div><br></div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>E-1</strong></font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>EXHIBIT
      F</strong></font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>FORM
      OF RELEASE OF CLAIMS</u></strong></font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">For
      valuable consideration, the receipt and adequacy of which are hereby
      acknowledged, the undersigned, EMERITUS CORPORATION, a Washington corporation
      (&#8220;Emeritus&#8221;) and <u>[name of each Lessee]</u> [<u>name of any Affiliate-assignee
      or nominee</u>] (collectively with Emeritus, the &#8220;Releasors&#8221;), and hereby
      release and forever discharge the &#8220;Releasees&#8221; hereunder, consisting of HEALTH
      CARE PROPERTY INVESTORS, INC., a Maryland corporation (&#8220;HCP&#8221;), HCPI TRUST, a
      Maryland real estate trust (&#8220;HCP Trust&#8221;), EMERITUS REALTY V, LLC, a Delaware
      limited liability company (&#8220;ER-V&#8221;), ESC-LA CASA GRANDE, LLC, a Delaware limited
      liability company (&#8220;La Casa Grande&#8221;) TEXAS HCP HOLDING, L.P., a Delaware limited
      partnership (&#8220;Texas HCP&#8221;), HCP AL OF FLORIDA, LLC, a Delaware limited liability
      company (&#8220;HCP AL&#8221;), and <u>[name of each Lessor]</u>, and each of their
      predecessors, successors, partners, members and assigns, and its and their
      past,
      present and future partners, members, officers, directors, trustees, employees,
      agents, lenders, representatives, attorneys, and all persons acting by, through,
      under or in concert with Releasees, or any of them, of and from any and all
      manner of action or actions, cause or causes of action, in law or in equity,
      suits, debts, liens, contracts, agreements, promises, liabilities, claims,
      demands, damages, losses, costs or expenses, of any nature whatsoever, known
      or
      unknown, fixed or contingent, which Releasors, or any of them, now has or may
      hereafter have against each or any of the Releasees by reason of any matter,
      cause or thing whatsoever from the beginning of time to the date hereof arising
      out of, based upon or relating to those certain &#8220;Properties&#8221; described in that
      certain [Purchase and Sale Agreement Joint Escrow Agreement dated as
      of&#160;&#160;June 14, 2007, between Emeritus, as &#8220;Buyer,&#8221; and HCP, HCP Trust,
      ER-V, La Casa Grande, Texas HCP and HCP AL, together as &#8220;Seller&#8221;] (the &#8220;Purchase
      Agreement&#8221;), including, without limitation, the condition of the Properties
      and/or the presence or existence of any Hazardous Substances (as defined in
      the
      Purchase Agreement) in, on, under or about the Properties.&#160;&#160;The
      execution and delivery of this Release of Claims by Releasors is a condition
      to
      the Closing of the transaction contemplated by the Purchase
      Agreement</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">EACH
      RELEASOR ACKNOWLEDGES THAT IT HAS BEEN ADVISED BY LEGAL COUNSEL AND IS FAMILIAR
      WITH THE PROVISIONS OF CALIFORNIA CIVIL CODE SECTION 1542, WHICH PROVIDES AS
      FOLLOWS:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#8220;A
      GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW
      OR
      SUSPECT TO EXIST IN HIS FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF
      KNOWN BY HIM, MUST HAVE MATERIALLY AFFECTED HIS SETTLEMENT WITH THE
      DEBTOR.&#8221;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">EACH
      RELEASOR, BEING AWARE OF THIS CODE SECTION, HEREBY EXPRESSLY WAIVES ANY RIGHTS
      IT MAY HAVE THEREUNDER, AS WELL AS UNDER ANY OTHER STATUTES OR COMMON LAW
      PRINCIPLES OF SIMILAR EFFECT.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Each
      Releasor represents and warrants that it has not assigned or transferred any
      interest in any claim released by this Release of Claims which it may have
      against the Releasees, or any of them, and each Releasor agrees to indemnify,
      defend and hold Releasees, and each of them,</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>F-1</strong></font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">harmless
      from and against any liabilities, claims, demands, damages, costs, expenses
      and
      attorneys&#8217; and paralegals&#8217; fees incurred by Releasees, or any of them, as a
      result of any person asserting any such assignment or transfer.&#160;&#160;It is
      the intention of the parties that this indemnity does not require payment as
      a
      condition precedent to recovery thereunder by the Releasees.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Each
      Releasor agrees that if it hereafter commences any suit arising out of, based
      upon, or relating to, or in any manner asserts against Releasees, or any of
      them, any of the claims or obligations released in this Release of Claims,
      such
      Releasor shall pay to Releasees, and each of them, in addition to any other
      damages caused to Releasees thereby, all attorneys&#8217; and paralegals&#8217; fees
      incurred by Releasees in defending or otherwise responding to such suit or
      claim.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Each
      Releasor further understands and agrees that the execution of this Release
      of
      Claims shall not constitute or be construed as an admission of any obligation
      of, or of the validity of any claim whatsoever by, the Releasees, or any of
      them, who have each consistently taken the position that they have no obligation
      whatsoever to such Releasor.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Notwithstanding
      the date of execution of this Release of Claims, this Release of Claims shall
      be
      and become effective only at the time of Closing (as defined in the Purchase
      Agreement).</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">IN
      WITNESS WHEREOF, the undersigned Releasors have executed this Release of Claims
      as of the ____ day of ___________, 2007.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td valign="top" width="40%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            <td align="left" valign="top" width="40%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#8220;Releasors&#8221;</font></div>
              <div>&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">EMERITUS
                CORPORATION,</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">a
                Washington corporation</font></div>
              <div>&#160;</div>
              <div>&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">By:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div>
              <div>&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Title:</font></div>
              <div>&#160;</div>
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="40%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            <td align="left" valign="top" width="40%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><font id="TAB1" style="MARGIN-LEFT: 216pt;"></font>,</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">a&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div>
              <div>&#160;</div>
              <div>&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">By:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div>
              <div>&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Title:</font></div>
              <div>&#160;</div>
              <div>&#160;</div>
            </td>
          </tr>

      </table>
    </div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>F-2</strong></font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div><br>
    <div><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td valign="top" width="40%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            <td align="left" valign="top" width="40%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><font id="TAB1" style="MARGIN-LEFT: 216pt;"></font>,</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">a&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div>
              <div>&#160;</div>
              <div>&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">By:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div>
              <div>&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Title:</font></div>
              <div>&#160;</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td valign="top" width="40%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            <td valign="top" width="40%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
          </tr>
          <tr>
            <td valign="top" width="40%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            <td align="left" valign="top" width="40%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><font id="TAB1" style="MARGIN-LEFT: 216pt;"></font>,</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">a&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div>
              <div>&#160;</div>
              <div>&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">By:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div>
              <div>&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Title:</font></div>
              <div>&#160;</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br></div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>F-3</strong></font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>EXHIBIT
      G</strong></font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>PURCHASE
      PRICE ALLOCATION</u></strong></font></div>
    <div><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" colspan="3" valign="top" width="80%" style="BORDER-TOP: black 0.5pt solid; BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>EMERITUS
                PROPERTIES</strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>Seller&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Property&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Allocation
                of Purchase Price<font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><sup>1</sup></font></strong></font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="27%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Texas
                HCP Holding, L.P.</font></div>
            </td>
            <td align="left" valign="top" width="27%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">San
                Antonio, Texas (Amber Oaks)</font></div>
            </td>
            <td valign="top" width="27%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
          </tr>
          <tr>
            <td align="left" valign="top" width="27%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Texas
                HCP Holding, L.P.</font></div>
            </td>
            <td align="left" valign="top" width="27%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">San
                Antonio, Texas (Hamilton House)</font></div>
            </td>
            <td valign="top" width="27%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
          </tr>
          <tr>
            <td align="left" valign="top" width="27%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Health
                Care Property Investors, Inc.</font></div>
            </td>
            <td align="left" valign="top" width="27%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Phoenix,
                Arizona</font></div>
            </td>
            <td valign="top" width="27%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
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          <tr>
            <td align="left" valign="top" width="27%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Texas
                HCP Holding, L.P.</font></div>
            </td>
            <td align="left" valign="top" width="27%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">El
                Paso, Texas (Palisades)</font></div>
            </td>
            <td valign="top" width="27%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
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            <td align="left" valign="top" width="27%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Texas
                HCP Holding, L.P.</font></div>
            </td>
            <td align="left" valign="top" width="27%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">El
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            </td>
            <td valign="top" width="27%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
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            <td align="left" valign="top" width="27%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Health
                Care Property Investors, Inc.</font></div>
            </td>
            <td align="left" valign="top" width="27%" style="BORDER-BOTTOM: black 2px solid">
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            </td>
            <td valign="top" width="27%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Health
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            </td>
            <td align="left" valign="top" width="27%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Stockton
                Facility located in Stockton, California</font></div>
            </td>
            <td valign="top" width="27%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Health
                Care Property Investors, Inc.</font></div>
            </td>
            <td align="left" valign="top" width="27%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Walla
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            </td>
            <td valign="top" width="27%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">HCPI
                Trust</font></div>
            </td>
            <td align="left" valign="top" width="27%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Allentown,
                Pennsylvania</font></div>
            </td>
            <td valign="top" width="27%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Health
                Care Property Investors, Inc.</font></div>
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            <td align="left" valign="top" width="27%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Dover,
                Delaware</font></div>
            </td>
            <td valign="top" width="27%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">HCPI
                Trust</font></div>
            </td>
            <td align="left" valign="top" width="27%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Latrobe,
                Pennsylvania</font></div>
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            <td valign="top" width="27%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Health
                Care Property Investors, Inc.</font></div>
            </td>
            <td align="left" valign="top" width="27%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Hendersonville,
                North Carolina (Heritage Lodge)</font></div>
            </td>
            <td valign="top" width="27%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Health
                Care Property Investors, Inc.</font></div>
            </td>
            <td align="left" valign="top" width="27%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Hendersonville,
                North Carolina (Pine Park)</font></div>
            </td>
            <td valign="top" width="27%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Health
                Care Property Investors, Inc.</font></div>
            </td>
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            </td>
            <td valign="top" width="27%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Health
                Care Property Investors, Inc.</font></div>
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            <td align="left" valign="top" width="27%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Alexandria,
                Louisiana</font></div>
            </td>
            <td valign="top" width="27%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
          </tr>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Health
                Care Property Investors, Inc.</font></div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Lafayette,
                Louisiana</font></div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Health
                Care Property Investors, Inc.</font></div>
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            <td align="left" valign="top" width="27%" style="BORDER-BOTTOM: black 2px solid">
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                Charles, Louisiana</font></div>
            </td>
            <td valign="top" width="27%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
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            <td align="left" valign="top" width="27%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">ESC-La
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            </td>
            <td align="left" valign="top" width="27%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">New
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            </td>
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          </tr>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Health
                Care Property Investors, Inc.</font></div>
            </td>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Voorhees,
                New Jersey</font></div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Health
                Care Property Investors, Inc.</font></div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Auburn
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            <td valign="top" width="27%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Health
                Care Property Investors, Inc.</font></div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Biloxi,
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                HCP Holding, L.P.</font></div>
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    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>G-1</strong></font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
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      <div id="HDR">
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      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
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            <td valign="top" width="27%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
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            <td align="left" valign="top" width="27%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Boise,
                Idaho</font></div>
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            </td>
            <td align="left" valign="top" width="27%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Escondido
                Facility located in Escondido, California</font></div>
            </td>
            <td valign="top" width="27%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
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            <td align="left" colspan="3" valign="top" width="80%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>SUMMERVILLE
                PROPERTIES</strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>Seller&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Property&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Allocation
                of Purchase Price<font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><sup>1</sup></font></strong></font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="27%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Health
                Care Property Investors, Inc.</font></div>
            </td>
            <td align="left" valign="top" width="27%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">(West)
                Ocala Facility located in Ocala Florida</font></div>
            </td>
            <td valign="top" width="27%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
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            <td align="left" valign="top" width="27%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">HCP
                AL of Florida, LLC</font></div>
            </td>
            <td align="left" valign="top" width="27%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">(East)
                Ocala Facility located in Ocala, Florida</font></div>
            </td>
            <td valign="top" width="27%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
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            <td align="left" valign="top" width="27%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Health
                Care Property Investors, Inc.</font></div>
            </td>
            <td align="left" valign="top" width="27%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Ontario
                Facility located in Ontario, California</font></div>
            </td>
            <td valign="top" width="27%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
          </tr>
          <tr>
            <td align="left" valign="top" width="27%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">HCP
                AL of Florida, LLC</font></div>
            </td>
            <td align="left" valign="top" width="27%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">New
                Port Richey Facility located in New Port Richey, Florida</font></div>
            </td>
            <td valign="top" width="27%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
          </tr>
          <tr>
            <td align="left" valign="top" width="27%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">HCP
                AL of Florida, LLC</font></div>
            </td>
            <td align="left" valign="top" width="27%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Lakeland
                Facility located in Lakeland, Florida</font></div>
            </td>
            <td valign="top" width="27%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
          </tr>
          <tr>
            <td align="left" valign="top" width="27%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">HCP
                AL of Florida, LLC</font></div>
            </td>
            <td align="left" valign="top" width="27%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Venice
                Facility located in Venice, Florida</font></div>
            </td>
            <td valign="top" width="27%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
          </tr>
          <tr>
            <td align="left" valign="top" width="27%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Health
                Care Property Investors, Inc.</font></div>
            </td>
            <td align="left" valign="top" width="27%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Morristown
                Facility located in Morristown, Tennessee</font></div>
            </td>
            <td valign="top" width="27%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
          </tr>
          <tr>
            <td align="left" valign="top" width="27%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Texas
                HCP Holding, L.P.</font></div>
            </td>
            <td align="left" valign="top" width="27%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Twelve
                Oaks East Facility located in Dallas, Texas</font></div>
            </td>
            <td valign="top" width="27%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
          </tr>
          <tr>
            <td align="left" colspan="3" valign="top" width="80%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>OTHER
                PROPERTY</strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>Seller&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Property&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Allocation
                of Purchase Price<font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><sup>1</sup></font></strong></font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="27%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Health
                Care Property Investors, Inc.</font></div>
            </td>
            <td align="left" valign="top" width="27%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Painted
                Post, New York</font></div>
            </td>
            <td valign="top" width="27%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
          </tr>
          <tr>
            <td align="left" colspan="3" valign="top" width="80%" style="BORDER-BOTTOM: black 4px double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>TOTAL:</strong>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;$482,500,000.00</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font style="DISPLAY: inline; FONT-SIZE: 10pt;"><sup>1</sup></font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The
      Allocated Purchase Price for each Property shall be reasonably agreed upon
      by
      the parties prior to the Closing; provided, however, that the failure of the
      parties to so agree upon the Allocated Purchase Price for the Properties shall
      not be a condition to Closing or otherwise relieve the parties of their
      obligations under this Agreement.</font></div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>G-2</strong></font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>EXHIBIT
      H</strong></font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>FORM
      OF EMERITUS MASTER LEASE TERMINATION</u></strong></font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">[See
      Attached]</font></div>
    <div><br></div>
    <div><br></div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>H-1</strong></font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>EXHIBIT
      I</strong></font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>FORM
      OF PAINTED POST LEASE TERMINATION</u></strong></font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">[See
      Attached]</font></div><br>
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        </div>
      </div>
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        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt;"><strong>I-1</strong></font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
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        </div>
      </div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>SCHEDULE
      1</strong></font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>RELATED
      PURCHASE AGREEMENTS</u></strong></font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">The
      parties acknowledge and agree that as of the Effective Date of the Agreement,
      neither the parties nor their respective Affiliates have entered into any
      Related Agreements.&#160;&#160;Nevertheless, pursuant to Section 6.8 of this
      Agreement, Sellers anticipate that one or more Related Agreements will be
      executed and delivered prior to the Closing.&#160;&#160;In such event, the
      parties agree to amend this Agreement to reflect the same and to add the
      appropriate references thereto in this <strong><u>Schedule
      1</u></strong>.</font></div><br>
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        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt;"><strong>Schedule
          1 -
          1</strong></font></div>
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        </div>
      </div>
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