Third Amendment to Master Credit Facility Agreement | 1 | |
HTI/Capital One (Addition of 7) |
Third Amendment to Master Credit Facility Agreement | 2 | |
HTI/Capital One (Addition of 7) |
Third Amendment to Master Credit Facility Agreement | 3 | |
HTI/Capital One (Addition of 7) |
I. GENERAL PARTY AND MULTIFAMILY PROJECT INFORMATION | |
Borrower | (a) ARHC ALSTUFL01, LLC (b) ARHC ALJUPFL01, LLC (c) ARHC SBBURIA01, LLC (f/k/a ARHC CO Borrower 1, LLC) (d) ARHC PHDESIA01, LLC (f/k/a ARHC CO Borrower 2, LLC) (e) ARHC RPATLGA01, LLC (f/k/a ARHC CO Borrower 3, LLC) (f) ARHC TVTITFL01, LLC (f/k/a ARHC CO Borrower 4, LLC) (g) ARHC BMBUCMI01, LLC (f/k/a ARHC CO Borrower 5, LLC) (h) ARHC CWEVAGA01, LLC (f/k/a ARHC CO Borrower 6, LLC) (i) ARHC LVHLDMI01, LLC (f/k/a ARHC CO Borrower 7, LLC) (j) ARHC PHCTNIA01, LLC (f/k/a ARHC CO Borrower 8, LLC) (k) ARHC SCCRLIA01, LLC (f/k/a ARHC CO Borrower 9, LLC) (l) ARHC SMMTEIA01, LLC (f/k/a ARHC CO Borrower 10, LLC) (m) ARHC CO Borrower 11, LLC (n) ARHC CO Borrower 12, LLC (o) ARHC CO Borrower 13, LLC (p) ARHC CO Borrower 14, LLC (q) ARHC CO Borrower 15, LLC |
Lender | Capital One Multifamily Finance, LLC |
Key Principal | Healthcare Trust Operating Partnership, L.P. (f/k/a American Realty Capital Healthcare Trust II Operating Partnership, L.P.) and Healthcare Trust, Inc. (f/k/a American Realty Capital Healthcare Trust II, Inc.) |
Guarantor | Healthcare Trust Operating Partnership, L.P. |
Multifamily Project | (a) Allegro at Stuart (b) Allegro at Jupiter (c) Sunnybrook of Burlington (d) Prairie Hills at Des Moines (e) Renaissance on Peachtree (f) Addington Place of Titusville (g) Buchanan Meadows (h) Camellia Walk (i) Lakeside Vista (j) Prairie Hills at Clinton (k) Sunnybrook of Carroll (l) Sunnybrook of Muscatine |
Type of Property | As shown on the SASA for each Mortgaged Property |
Seniors Housing Facility Licensing Designation | As shown on the SASA for each Mortgaged Property |
HIPAA Covered Entity | Allegro at Stuart Borrower Yes No Operator Yes No Manager Yes No Allegro at Jupiter Borrower Yes No Operator Yes No Manager Yes No Sunnybrook of Burlington Borrower Yes No Operator Yes No Manager Yes No Prairie Hills at Des Moines Borrower Yes No Operator Yes No Manager Yes No Renaissance on Peachtree Borrower Yes No Operator Yes No Manager Yes No Addington Place of Titusville Borrower Yes No Operator Yes No Manager Yes No Buchanan Meadows Borrower Yes No Operator Yes No Manager Yes No Camellia Walk Borrower Yes No Operator Yes No Manager Yes No Lakeside Vista Borrower Yes No Operator Yes No Manager Yes No Prairie Hills at Clinton Borrower Yes No Operator Yes No Manager Yes No Sunnybrook of Carroll Borrower Yes No Operator Yes No Manager Yes No Sunnybrook of Muscatine Borrower Yes No Operator Yes No Manager Yes No |
Medicaid Participant | Allegro at Stuart Borrower Yes No Operator Yes No Manager Yes No Allegro at Jupiter Borrower Yes No Operator Yes No Manager Yes No Sunnybrook of Burlington Borrower Yes No Operator Yes No Manager Yes No Prairie Hills at Des Moines Borrower Yes No Operator Yes No Manager Yes No Renaissance on Peachtree Borrower Yes No Operator Yes No Manager Yes No Addington Place of Titusville Borrower Yes No Operator Yes No Manager Yes No Buchanan Meadows Borrower Yes No Operator Yes No Manager Yes No Camellia Walk Borrower Yes No Operator Yes No Manager Yes No Lakeside Vista Borrower Yes No Operator Yes No Manager Yes No Prairie Hills at Clinton Borrower Yes No Operator Yes No Manager Yes No Sunnybrook of Carroll Borrower Yes No Operator Yes No Manager Yes No Sunnybrook of Muscatine Borrower Yes No Operator Yes No Manager Yes No |
Property Operator(s) | Allegro at Stuart Operator ARHC ALSTUFL01 TRS, LLC Manager Love Management Company, LLC (d/b/a Allegro Management Company) Allegro at Jupiter Operator ARHC ALJUPFL01 TRS, LLC Manager Love Management Company, LLC (d/b/a Allegro Management Company) Sunnybrook of Burlington Operator ARHC SUBBURIA01 TRS, LLC Manager Burlington Care Properties, LLC Prairie Hills at Des Moines Operator ARHC PHDESIA01 TRS, LLC Manager Dial Senior Management, Inc. Renaissance on Peachtree Operator ARHC RPATLGA01 TRS, LLC Manager Blue Ridge Senior Housing, LLC Addington Place of Titusville Operator ARHC TVTITFL01 TRS, LLC Manager Concordis Management Titusville LLC Buchanan Meadows Operator Leisure Living Management of Buchanan, L.L.C. Manager Homestead Management Group, LLC Camellia Walk Operator ARHC CWEVAGA01 TRS, LLC Manager Charter Senior Living Evans, LLC Lakeside Vista Operator Leisure Living Management of Holland, Inc. Manager Homestead Management Group, LLC Prairie Hills at Clinton Operator ARHC PHCTNIA01 TRS, LLC Manager Senior Housing Management, Inc. Sunnybrook of Carroll Operator ARHC SCCRLIA01 TRS, LLC Manager Senior Housing Management, Inc. Sunnybrook of Muscatine Operator ARHC SMMTEIA01 TRS, LLC Manager Muscatine Care Properties LLC |
Affiliated Property Operator(s) | Yes – All Operators listed above are Affiliated Property Operator(s) No |
Maximum Permitted Equipment Financing | Two percent (2%) of the Outstanding Advance Amount. |
ADDRESSES | |
Borrower’s General Business Address | c/o Healthcare Trust, Inc. 405 Park Avenue New York, NY 10022 Attention: W. Todd Jensen Email: tjensen@ar-global.com |
Borrower’s Notice Address | c/o Healthcare Trust, Inc. 405 Park Avenue New York, NY 10022 Attention: W. Todd Jensen Email: tjensen@ar-global.com With a copy to: c/o Healthcare Trust, Inc. 405 Park Avenue New York, NY 10022 Attention: Jeremy Eichel Email: JEichel@ar-global.com and to Katten Muchin Rosenman LLP 2900 K Street NW, North Tower - Suite 200 |
Multifamily Project Address | (a) Allegro at Stuart 3400 SE Aster Lane, Stuart, Martin County, FL 34994 (b) Allegro at Jupiter 1031 Community Drive, Jupiter, Palm Beach County, FL 33458 (c) Sunnybrook of Burlington 5175 West Avenue, Burlington, Des Moines County, IA 52601 (d) Prairie Hills at Des Moines 5815 SE 27th Street, Des Moines, Polk County, IA 50320 (e) Renaissance on Peachtree 3755 Peachtree Road NE, Atlanta, Fulton County, GA 30319 (f) Addington Place of Titusville 497 N. Washington Avenue, Titusville, Brevard County, FL 32796 (g) Buchanan Meadows 809 Carroll Street, Buchanan, Berrien County, MI 49107 (h) Camellia Walk 3949 Evans to Locks Road, Evans, Columbia County, GA 30809 (i) Lakeside Vista 340 West 40th Street, Holland, Allegan County, MI 49423 (j) Prairie Hills at Clinton 1701 13th Avenue North, Clinton, Clinton County, IA 52732 (k) Sunnybrook of Carroll 1214 East 18th Street, Carroll, Carroll County, IA 51401 (l) Sunnybrook of Muscatine 3515 Diana Queen Drive, Muscatine, Muscatine County, IA 52761 |
Key Principal’s General Business Address | c/o Healthcare Trust, Inc. 405 Park Avenue New York, NY 10022 Attention: W. Todd Jensen Email: tjensen@ar-global.com |
Key Principal’s Notice Address | c/o Healthcare Trust, Inc. 405 Park Avenue New York, NY 10022 Attention: W. Todd Jensen Email: tjensen@ar-global.com With a copy to: c/o Healthcare Trust, Inc. 405 Park Avenue New York, NY 10022 Attention: Jeremy Eichel Email: JEichel@ar-global.com and to Katten Muchin Rosenman LLP 2900 K Street NW, North Tower - Suite 200 |
Guarantor’s General Business Address | c/o Healthcare Trust, Inc. 405 Park Avenue New York, NY 10022 Attention: W. Todd Jensen Email: tjensen@ar-global.com |
Guarantor’s Notice Address | c/o Healthcare Trust, Inc. 405 Park Avenue New York, NY 10022 Attention: W. Todd Jensen Email: tjensen@ar-global.com With a copy to: c/o Healthcare Trust, Inc. 405 Park Avenue New York, NY 10022 Attention: Jeremy Eichel Email: JEichel@ar-global.com and to Katten Muchin Rosenman LLP 2900 K Street NW, North Tower - Suite 200 |
Payment Guarantor’s General Business Address | c/o Healthcare Trust, Inc. 405 Park Avenue New York, NY 10022 Attention: W. Todd Jensen Email: tjensen@ar-global.com |
Payment Guarantor’s Notice Address | c/o Healthcare Trust, Inc. 405 Park Avenue New York, NY 10022 Attention: W. Todd Jensen Email: tjensen@ar-global.com With a copy to: c/o Healthcare Trust, Inc. 405 Park Avenue New York, NY 10022 Attention: Jeremy Eichel Email: JEichel@ar-global.com and to Katten Muchin Rosenman LLP 2900 K Street NW, North Tower - Suite 200 |
Lender’s General Business Address | Capital One Multifamily Finance, LLC 2 Bethesda Metro Center, 10th Floor Bethesda, MD 20814 Attn: Asset Management |
Lender’s Notice Address | Capital One Multifamily Finance, LLC 2 Bethesda Metro Center, 10th Floor Bethesda, MD 20814 Attn: Asset Management |
Lender’s Payment Address | Capital One Multifamily Finance, LLC 2 Bethesda Metro Center, 10th Floor Bethesda, MD 20814 Attn: Asset Management |
Manager’s General Business Address | Allegro at Jupiter and Allegro at Stuart Allegro Management Company 212 South Central Avenue, Suite 301 St. Louis, MO 63105 Attention: CFO Prairie Hills at Des Moines Dial Senior Management Inc. 11506 Nicholas Street, Suite 200 Omaha, Nebraska 68164 Attn: Ted Lowndes With a copy to: Michael C. Carter, Esq. 11506 Nicholas Street, Suite 103 Omaha, Nebraska 68164 Sunnybrook of Burlington Burlington Care Properties, LLC 7420 SW Bridgeport Road, Suite 105 Portland, OR 97224 Attention: Gregory Roderick Renaissance on Peachtree Blue Ridge Senior Housing, LLC 3715 Northside Parkway Building 300, Suite 110 Atlanta, Georgia 30327 Attention: Ellison W. Thomas Addington Place of Titusville Concordis Management Titusville LLC 1740 SE 18th Street, Suite 902 Ocala, FL 34471 Attention: Trent Watkins Buchanan Meadows and Lakeside Vista Homestead Management Group, LLC 21800 Haggerty Road, #205 Northville, MI 48167 Attention: Carl Simcox Camellia Walk Charter Senior Living Evans, LLC c/o Charter Senior Living, LLC 1584 Charlotte Circle, Suite K Naperville, IL 60564 Attention: Keven J. Bennema Prairie Hills at Clinton and Sunnybrook of Carroll Senior Housing Management, Inc. 208 35th Street Drive SE, Suite 500 Cedar Rapids, IA 52403-1361 Attention: Allen Phillips Sunnybrook of Muscatine Muscatine Care Properties LLC 7420 SW Bridgeport Road, Suite 105 Portland, OR 97224 Attention: Gregory Roderick |
Manager’s Notice Address | Allegro at Jupiter and Allegro at Stuart Allegro Management Company 212 South Central Avenue, Suite 301 St. Louis, MO 63105 Attention: CFO Email: rkarn@allegroliving.com With copy to: Theresa Marie Kenney, Esq., B.C.S. Duss, Kenney, Safer, Hampton & Joos, P.A. 4348 Southpoint Boulevard, Suite 101 Jacksonville, Florida 32216 Email: Tkenney@jaxfirm.com Prairie Hills at Des Moines Dial Senior Management Inc. 11506 Nicholas Street, Suite 200 Omaha, Nebraska 68164 Attn: Ted Lowndes With a copy to: Michael C. Carter, Esq. 11506 Nicholas Street, Suite 103 Omaha, Nebraska 68164 Sunnybrook of Burlington Burlington Care Properties, LLC 7420 SW Bridgeport Road, Suite 105 Portland, OR 97224 Attention: Gregory Roderick Renaissance on Peachtree Blue Ridge Senior Housing, LLC 3715 Northside Parkway Building 300, Suite 110 Atlanta, Georgia 30327 Attention: Ellison W. Thomas Email: ethomas@arborcompany.com With copy to: Schreeder, Wheeler & Flint, LLP 1100 Peachtree Street NE, Suite 800 Addington Place of Titusville Concordis Management Titusville LLC 1740 SE 18th Street, Suite 902 Ocala, FL 34471 Attention: Trent Watkins Email: trent.watkins@concordisseniorliving.com Buchanan Meadows and Lakeside Vista Homestead Management Group, LLC 21800 Haggerty Road, #205 Northville, MI 48167 Attention: Carl Simcox Email: carlsimcox@gmail.com Camellia Walk Charter Senior Living Evans, LLC c/o Charter Senior Living, LLC 1584 Charlotte Circle, Suite K Naperville, IL 60564 Attention: Keven J. Bennema Prairie Hills at Clinton and Sunnybrook of Carroll Senior Housing Management, Inc. 208 35th Street Drive SE, Suite 500 Cedar Rapids, IA 52403-1361 Attention: Allen Phillips Sunnybrook of Muscatine Muscatine Care Properties LLC 7420 SW Bridgeport Road, Suite 105 Portland, OR 97224 Attention: Gregory Roderick Email: gregr@frontiermgmt.com |
Operator’s General Business Address | c/o Healthcare Trust, Inc. 405 Park Avenue New York, NY 10022 Attention: W. Todd Jensen Email: tjensen@ar-global.com |
Operator’s Notice Address | c/o Healthcare Trust, Inc. 405 Park Avenue New York, NY 10022 Attention: W. Todd Jensen Email: tjensen@ar-global.com With a copy to: c/o Healthcare Trust, Inc. 405 Park Avenue New York, NY 10022 Attention: Jeremy Eichel Email: JEichel@ar-global.com and to Katten Muchin Rosenman LLP 2900 K Street NW, North Tower - Suite 200 |
Sublessee’s General Business Address | N/A |
Sublessee’s Notice Address | N/A |
III. INFORMATION FOR $64,153,000 VARIABLE ADVANCE MADE MARCH 2, 2018 | |
Adjustable Rate | Until the first Rate Change Date, the Initial Adjustable Rate, and from and after each Rate Change Date following the first Rate Change Date until the next Rate Change Date, a per annum interest rate that is the sum of (i) the Current Index, and (ii) the Margin, which sum is then rounded to the nearest three (3) decimal places; provided, however, that the Adjustable Rate shall never be less than the Margin. |
Advance Amount | $64,153,000 |
Advance Term | 103 months. |
Advance Year | The period beginning on the Effective Date and ending on the last day of March, 2019, and each successive twelve (12) month period thereafter. |
Amortization Type | Amortizing Full Term Interest Only Partial Interest Only |
Current Index | The published Index that is effective on the Business Day immediately preceding the applicable Rate Change Date. |
Effective Date | March 2, 2018 |
First Payment Date | The first day of May, 2018. |
First Principal and Interest Payment Date | The first day of May, 2022. |
Fixed Monthly Principal Component | $83,131.48 |
Fixed Rate Amortization Factor | 4.927% per annum |
Index | One Month LIBOR |
Initial Adjustable Rate | 3.941% per annum. |
Initial Monthly Debt Service Payment | $210,689.14 |
Interest Accrual Method | Actual/360 (computed on the basis of a three hundred sixty (360) day year and the actual number of calendar days during the applicable month, calculated by multiplying the unpaid principal balance of the Advance by the Interest Rate, dividing the product by three hundred sixty (360), and multiplying the quotient obtained by the actual number of days elapsed in the applicable month). |
Interest Only Term | 48 months. |
Interest Rate Type | Structured ARM |
Last Interest Only Payment Date | The first day of April, 2022. |
Margin | 2.32% |
Maturity Date | The first day of November, 2026, or any later date to which the Maturity Date may be extended (if at all) pursuant to this Master Agreement in connection with an election by Borrower to convert the Interest Rate on the Advance to a fixed rate pursuant to the terms of this Master Agreement, or any earlier date on which the unpaid principal balance of the Advance becomes due and payable by acceleration or otherwise. |
Monthly Debt Service Payment | (i) for the First Payment Date, the Initial Monthly Debt Service Payment; (ii) for each Payment Date thereafter through and including the Last Interest Only Payment Date, the amount obtained by multiplying the unpaid principal balance of the Advance by the Adjustable Rate, dividing the product by three hundred sixty (360), and multiplying the quotient by the actual number of days elapsed in the applicable month; (iii) for the First Principal and Interest Payment Date and each Payment Date thereafter until the Advance is fully paid, an amount equal to the sum of: (1) the Fixed Monthly Principal Component; plus (2) an interest payment equal to the amount obtained by multiplying the unpaid principal balance of the Advance by the Adjustable Rate, dividing the product by three hundred sixty (360), and multiplying the quotient by the actual number of days elapsed in the applicable month. |
Payment Change Date | The first (1st) day of the month following each Rate Change Date until the Advance is fully paid. |
Prepayment Lockout Period | The first (1st) Advance Year of the term of the Advance. |
Rate Change Date | The First Payment Date and the first (1st) day of each month thereafter until the Advance is fully paid. |
Remaining Amortization Period | As of the First Principal and Interest Payment Date and each Payment Date thereafter, the Amortization Period minus the number of scheduled principal and interest Monthly Debt Service Payments that have elapsed since the Effective Date. |
IV. YIELD MAINTENANCE/PREPAYMENT PREMIUM INFORMATION | |
Prepayment Premium Term | The period beginning on the Effective Date and ending on the last calendar day of the fourth (4th) month prior to the month in which the Maturity Date occurs. |
Prepayment Lockout Period | 5.00% |
Second Loan Year, and each Loan Year thereafter | 1.00% |
• | Asphalt Seal Coat |
• | Painting, Exterior |
• | Fan Coil Unit / Furnace |
• | Packaged Terminal Air Conditioner (PTAC) |
• | Split System Condenser |
• | Central Domestic Hot Water Heater |
• | Carpet |
• | Vinyl Flooring |
• | Kitchen: Refrigerator |
• | Common Area Floor, Carpet |
• | Common Area Washer |
• | Common Area Dryer |
• | Common Area Seating, FF&E, Tables, Etc. |
• | Commercial Kitchen Equipment |
• | Asphalt Seal Coat |
• | Asphalt Shingle (3-tab) |
• | Fan Coil Unit/Furnace |
• | Split-System Condenser |
• | Water Storage Tank |
• | Carpet |
• | Vinyl Flooring |
• | Common Area Floors, Carpet |
• | Common Area Washer |
• | Common Area Dryer |
• | Common Area Seating, FF&E Tables, Etc. |
• | Unit Interior FF&E |
• | Commercial Kitchen Equipment |
• | Asphalt Seal Coat and Parking Stall Striping |
• | Exterior Painting |
• | Domestic Hot Water Heater Replacement |
• | PTAC Replacement |
• | VTAC Replacement |
• | Unit Carpet Replacement |
• | Unit Vinyl Flooring Replacement |
• | Kitchen Microwave Replacement |
• | Common Area Floors Replacement |
• | Common Area Washer Replacement |
• | Common Area Dryer Replacement |
• | Common Area Seating, FF&E Tables, Etc. Replacement |
• | Unit Interior FF&E Replacement |
• | Commercial Kitchen Equipment Replacement |
• | Commercial Laundry Dryer Replacement |
• | Asphalt Seal Coat and Parking Stall Striping |
• | Exterior Painting |
• | Split-System Furnace/Fan Coil |
• | Split-System Condenser |
• | A/C Window Unit or through wall Replacement |
• | Individual Unit Hot Water Heater Replacement |
• | Central Hot Water Heater Replacement |
• | Carpet Replacement |
• | Vinyl Flooring Replacement |
• | Dishwasher Replacement |
• | Range Replacement |
• | Refrigerator Replacement |
• | Microwave Replacement |
• | Unit Laundry Dryer Replacement |
• | Unit Laundry Washing Machine Replacement |
• | Common Area Floors Replacement |
• | Common Area Washer Replacement |
• | Common Area Dryer Replacement |
• | Common Area Seating, FF&E Tables, Etc. Replacement |
• | Unit Interior FF&E Replacement |
• | Commercial Kitchen Equipment Replacement |
• | Parking, Stall Striping |
• | Painting, Exterior |
• | Fan Coil Unit / Furnace |
• | Packaged Terminal Air Conditioner (PTAC) |
• | Split System Condenser |
• | Central Domestic Hot Water Heater |
• | Carpet |
• | Vinyl Flooring |
• | Kitchen: Refrigerator |
• | Common Area Floors, Carpet |
• | Common Area Washer |
• | Common Area Dryer |
• | Common Area Seating, FF&E, Tables, Etc. |
• | Unit Interior FF&E |
• | Commercial Kitchen Equipment |
• | Parking, Stall Striping |
• | Façade Maintenance |
• | Fan Coil Unit / Furnace |
• | Packaged Terminal Air Conditioner (PTAC) |
• | Split System Condenser |
• | Central Domestic Hot Water Heater |
• | Carpet |
• | Vinyl Flooring |
• | Kitchen: Refrigerator |
• | Common Area Floors, Carpet |
• | Common Area Washer |
• | Common Area Dryer |
• | Common Area Seating, FF&E, Tables, Etc. |
• | Unit Interior FF&E |
• | Commercial Kitchen Equipment |
• | Parking, Stall Striping |
• | Painting, Exterior |
• | Fan Coil Unit / Furnace |
• | Packaged Terminal Air Conditioner (PTAC) |
• | Split-System Condenser |
• | Central Water Heater Replacement |
• | Carpet |
• | Vinyl Flooring |
• | Kitchen: Refrigerator |
• | Common Area Floors, Carpet |
• | Common Area Washer |
• | Common Area Dryer |
• | Common Area Seating, FF&E, Tables, Etc. |
• | Commercial Kitchen Equipment |
ITEM | COST | % | TOTAL | REQUIRED COMPLETION TIMEFRAME |
ADA Parking – Install van accessible ADA parking space | $250 | 150% | $375 | 12 Months |
TOTAL ESCROW | $250 | $375 (Waived) |
ITEM | COST | % | TOTAL | REQUIRED COMPLETION TIMEFRAME |
Unit Carbon Monoxide Detectors – Installation of Unit Carbon Monoxide Detectors | $1,400 | 150% | $2,100 | 90 Days |
Asphalt Shingle (3-tab) – Replacement of original asphalt-composition shingles throughout building to repair leaks | $26,513 | 150% | $39,770 | 6 Months |
Building Roof – Repair roof leaks above kitchen | $5,000 | 150% | $7,500 | 6 Months |
Van Accessible Parking Space – Provide appropriate striping for ADA-designated, van accessible space | $250 | 150% | $375 | 12 Months |
TOTAL ESCROW | $33,163 | $49,745 |
ITEM | COST | % | TOTAL | REQUIRED COMPLETION TIMEFRAME |
Unit Carbon Monoxide Detectors – Installation of residential unit carbon monoxide detectors | $2,905 | 150% | $4,358 | 90 Days |
TOTAL ESCROW | $2,905 | $4,358 (Waived) |
ITEM | COST | % | TOTAL | REQUIRED COMPLETION TIMEFRAME |
Concrete Pavement – Repair concrete as necessary | $6,000 | 150% | $9,000 | 12 Months |
Magnetic Lock System Replacement – Replace magnetic locking system throughout the building | $37,400 | 150% | $56,100 | 12 Months |
ADA Compliant Parking – ADA spaces are not correctly identified or configured. Install appropriate signage. | $250 | 150% | $375 | 12 Months |
Evidence of Medical Waste Disposal Contract – Biohazardous medical waste should be disposed of by a hazardous waste disposal company to remove sharps and medical waste storage containers from the facility | $0 | 150% | $0 | 6 Months |
TOTAL ESCROW | $43,650 | $65,475 |
ITEM | COST | % | TOTAL | REQUIRED COMPLETION TIMEFRAME |
Unit Carbon Monoxide Detectors – Installation of CO Detectors due to gas-fired HVAC and water heaters. | $1,610 | 150% | $2,415 | 90 Days |
TOTAL ESCROW | $1,610 | $2,415 (Waived) |
1. | Section 4.01(f) (Effect of Master Agreement on Financial Condition) and Section 4.01(i) (No Bankruptcies or Judgments). Until such time as a Multifamily Residential Property meeting all of the Underwriting and Servicing Requirements is acquired by such Shell Borrower and concurrently added to the Collateral Pool in connection with a Future Advance made subject to and in accordance with the terms of the Master Agreement, such Shell Borrower will be rendered Insolvent by the transactions contemplated by the provisions of the Master Agreement and other Loan Documents and such Shell Borrower will not have sufficient working capital to pay all of such Shell Borrower’s outstanding debts as they come due, including all Debt Service Amounts. |
2. | Section 4.01(h)(10) (Single Purpose Status). ARHC TVTITFL01, LLC, successor by name change to ARHC CO Borrower 4, LLC, as the surviving entity to the merger with ARHC TVTITFL01, LLC, has acquired the obligations of ARHC TVTITFL01, LLC. ARHC BMBUCMI01, LLC, successor by name change to ARHC CO Borrower 5, LLC, as the surviving entity to the merger with ARHC BMBUCMI01, LLC, has acquired the obligations of ARHC BMBUCMI01, LLC. ARHC CWEVAGA01, LLC, successor by name change to ARHC CO Borrower 6, LLC, as the surviving entity to the merger with ARHC CWEVAGA01, LLC, has acquired the obligations of ARHC CWEVAGA01, LLC. ARHC LVHLDMI01, LLC, successor by name change to ARHC CO Borrower 7, LLC, as the surviving entity to the merger with ARHC LVHLDMI01, LLC, has acquired the obligations of ARHC LVHLDMI01, LLC. ARHC PHCTNIA01, LLC, successor by name change to ARHC CO Borrower 8, LLC, as the surviving entity to the merger with ARHC PHCTNIA01, LLC, has acquired the obligations of ARHC PHCTNIA01, LLC. ARHC SCCRLIA01, LLC, successor by name change to ARHC CO Borrower 9, LLC, as the surviving entity to the merger with ARHC SCCRLIA01, LLC, has acquired the obligations of ARHC SCCRLIA01, LLC. ARHC SMMTEIA01, LLC, successor by name change to ARHC CO Borrower 10, LLC, as the surviving entity to the merger with ARHC SMMTEIA01, LLC, has acquired the obligations of ARHC SMMTEIA01, LLC. |
3. | Sections 6.01(a)(1), (4) and (6) and 6.01(g)(2)(B) and (E). ARHC SMMTEIA01 TRS, LLC, a Delaware limited liability company, and Affiliated Property Operator of the Sunnybrook of Muscatine Mortgaged Property, is no longer enrolled with Iowa Medicaid Enterprise, the Governmental Authority with power to approve providers participating in the Iowa Medicaid program and establish Medicaid healthcare service cost reimbursement rates. |
PROPERTY | LOCATION | OWNER | INITIAL VALUATION | INITIAL ALLOCABLE FACILITY AMOUNT |
Allegro at Stuart | 3400 SE Aster Lane Stuart, Martin County, FL 34994 | ARHC ALSTUFL01, LLC, a Delaware limited liability company | $71,000,000 | $15,000,000 |
Allegro at Jupiter | 1031 Community Drive, Jupiter, Palm Beach County, FL 33458 | ARHC ALJUPFL01, LLC, a Delaware limited liability company | $61,100,000 | $15,000,000 |
Sunnybrook of Burlington | 5175 West Avenue, Burlington, Des Moines County, IA 52601 | ARHC SBBURIA01, LLC, a Delaware limited liability company (f/k/a ARHC CO Borrower 1, LLC) | $22,550,000 | $12,783,000 |
Prairie Hills at Des Moines | 5815 SE 27th Street, Des Moines, Polk County, IA 50320 | ARHC PHDESIA01, LLC, a Delaware limited liability company (f/k/a ARHC CO Borrower 2, LLC) | $9,830,000 | $5,418,000 |
Renaissance on Peachtree | 3755 Peachtree Road NE, Atlanta, Fulton County, GA 30319 | ARHC RPATLGA01, LLC, a Delaware limited liability company (f/k/a ARHC CO Borrower 3, LLC) | $84,690,000 | $50,821,000 |
Addington Place of Titusville | 497 N. Washington Avenue, Titusville, Brevard County, FL 32796 | ARHC TVTITFL01, LLC, a Delaware limited liability company (f/k/a ARHC CO Borrower 4, LLC) | $18,700,000 | $12,423,000 |
Buchanan Meadows | 809 Carroll Street, Buchanan, Berrien County, MI 49107 | ARHC BMBUCMI01, LLC, a Delaware limited liability company (f/k/a ARHC CO Borrower 5, LLC) | $7,100,000 | $4,234,000 |
Camellia Walk | 3949 Evans to Locks Road, Evans, Columbia County, GA 30809 | ARHC CWEVAGA01, LLC, a Delaware limited liability company (f/k/a ARHC CO Borrower 6, LLC) | $20,700,000 | $12,476,000 |
Lakeside Vista | 340 West 40th Street, Holland, Allegan County, MI 49423 | ARHC LVHLDMI01, LLC, a Delaware limited liability company (f/k/a ARHC CO Borrower 7, LLC) | $10,800,000 | $6,128,000 |
Prairie Hills at Clinton | 1701 13th Avenue North, Clinton, Clinton County, IA 52732 | ARHC PHCTNIA01, LLC, a Delaware limited liability company (f/k/a ARHC CO Borrower 8, LLC) | $21,300,000 | $10,759,000 |
Sunnybrook of Carroll | 1214 East 18th Street, Carroll, Carroll County, IA 51401 | ARHC SCCRLIA01, LLC, a Delaware limited liability company (f/k/a ARHC CO Borrower 9, LLC) | $11,500,000 | $6,144,000 |
Sunnybrook of Muscatine | 3515 Diana Queen Drive, Muscatine, Muscatine County, IA 52761 | ARHC SMMTEIA01, LLC, a Delaware limited liability company (f/k/a ARHC CO Borrower 10, LLC) | $17,900,000 | $11,989,000 |
Third Amendment to Master Credit Facility Agreement | 4 | |
HTI/Capital One (Addition of 7) |